LSE Market News

The long wait is over. Shanta Gold Limited (LSE:SHG) is finally on its way to produce between 13,000 and 17,500 ounces of gold from its New Luika Gold mine in Tanzania by the fourth quarter of 2012, the company said today. Shares of the Shanta Gold, trading on the Alternative Investment Market, gained 11.4% to […]

The share price of Royal Dutch Shell (LSE:RDSA) moved modestly downward today, perhaps in response the company’s announcement that of its “swap” of natural gas assets with Chevron in Western Australia.  Shell opened the day at 2,259 and declined steadily to 2.238 by 1:00 pm. Summary of the Swap In the simplest of terms, according […]

AIM-quoted Jubilant Energy N.V. (LSE:JUB) has concluded its’ Phase III drilling programme in India, after successfully testing the last of the seven wells at its only producing Kharsang field, the company said today. KHG-64, the seventh well, is now flowing at a rate of 226 barrels of oil per day (bopd) after reaching a depth […]

The conflict at the Lonmin (LSE:LMI) Marikana platinum mine is nearing epic proportions.  Lonmin share price fell by 8% as the market opened, but staged a modest comeback to 636.00, down a more marginal 1.85% (12.00 pence) by early afternoon as investors try to cope with the increasing violence. How Bad Is The Violence? So […]

AIM-quoted companies, Irish oil and gas firm Petroceltic International plc (LSE:PCI) and Scotland-based Melrose Resources plc (LSE:MRS) agreed to a merger to create a “regionally focussed independent oil and gas company”, the two companies disclosed today. Merger talks, which caught some investors by surprise, had been in place since February 2012, following a confidentiality agreement […]

The move by Premier Oil plc (LSE:PMO) to determine the northern extent of its’ Chim Sao oil field in Vietnam proved to be unsuccessful when the Chim Sao North West appraisal well did not find oil at one of the target reservoirs. Drilling 4,235 metres, Premier plugged and abandoned the CS-3X well after only the […]

“What a tangled web we weave, when first we practice to deceive.” Was there a banking scandal in Sir Walter Scott’s day, or did he foresee one coming?  Whatever, the answer, he sure got it right.  The banking world is a mess.  It seems like Barclays has been in the headlines more often in the […]

Base metals miner Talvivaara Mining Company plc (LSE:TALV) has released a revise guidance for its nickel production for the year to only about 17,000 tonnes of nickel, as the company continues to drain its mine of water brought about by excessive rainfall in spring. More than a month ago, the Finland-based firm already stated it […]

Tanzania’s largest gold producer, African Barrick Gold plc (LSE:ABG), confirmed today, press speculations regarding a possible takeover by state-controlled China National Gold Corporation (China Gold). In a statement, Barrick Gold Corporation, ABG’s parent company, said it is in preliminary discussions with China Gold regarding Barrick’s holdings in ABG. The story citing people privy to the...

AIM Listed IFA group Lighthouse (LSE:LGT) is to be forced to hold a General Meeting to vote on proposals to boot out Chairman David Hickey and bring back ex CEO Allan Rosengren. This follows Hickey’s failed attempt to get Lighthouse delisted – a move I opposed bitterly. Hickey has been a disaster for shareholders. With […]