Lonmin's (LON:LMI) shares rose after it commented on attempts at settling the dispute which has hit mines in South Africa.

Together with Anglo American Platinum and Impala Platinum Holdings it has advised that facilitated mediation between the companies and the Association of Mineworkers and Construction Union (AMCU) are continuing under the auspices of the Labour Court.

The producers and AMCU have welcomed the initiative of the Labour Court to mediate a resolution of the protracted wage strike in the sector.

It is said that all parties have fully embraced this process with talks led by Judge Hilary Rabkin Naicker and are encouraged that they share a common commitment to endeavour to resolve this dispute.

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Metals Exploration's (LON:MTL) FY pre-tax loss widened to ã5.2m, from a loss of ã4.4m. Revenue was nil and most of the losses were administrative expenses.

"The year just ended was another year of rapid change, exciting challenges and a growing construction workforce with each being carefully managed in an evolving corporate culture," the company said in a statement.

"Real measurable advance has been achieved in the Group achieving its immediate objective of becoming a producer of gold and realising value for its shareholders."

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Herencia Resources (LON:HER) posted a loss of ã3,443,061 for the year to the end of December - up from ã2,479,909 last time.

The loss attributable to the equity holders of the company was ã2,826,407 (2012: ã2,047,566).

Chairman John Moore said 2013 had been a very busy year and several significant milestones where achieved including:

÷ the company acquired an option to earn a 100% stake in the advanced high-grade Picachos copper project in Chile, the Picachos project;

÷ geological sampling and mapping confirmed the presence of pervasive copper mineralisation at Picachos, in addition to the high grade ore currently being mined at Picachos;

÷ the Patricia Feasibility Study (part of the Paguanta Project) was completed which identified the opportunity for an eight year mine life at Patricia involving both open pit and underground mining techniques. Work also continued on both the permitting and logistical components of the project with the aim of advancing Patricia toward production in as short a timeframe as possible;

÷ at the Guamanga project, an agreement was entered into with OZ Minerals, one of Australia's leading copper producers, the terms of which will see OZ Minerals potentially spend up to $8 million to earn 80% of this exciting project;

÷ the signing of an agreement for a share placement to raise over ã2.48 million from the issue of 400,000,000 new ordinary shares with Shining Capital Management ("Shining") of Hong Kong. This placement was subsequently completed in January 2014 with Shining becoming Herencia's largest shareholder.

Moore said this last point was of particular relevance to Herencia. He said: "Funding of junior resources companies remains one of the bigger challenges to be faced and it was very significant that in November 2013 the company secured this substantial funding package from a leading Hong Kong private equity firm.

"The investment, completed in two tranches and at a premium to the prevailing share price, saw Shining Capital Management become Herencia's largest shareholder in early 2014. "The funds raised are to be directed primarily to advance the very exciting Picachos Copper Project through an initial drilling phase commencing in the first half of 2014 and then on to what we hope will become a fast-track toward production of open pit copper ore at Picachos.

"In that same vein it is worth highlighting just how good a jurisdiction Chile is, on a number of levels. In addition to geological prospectivity, this stable and developed country is arguably one of the best mining jurisdiction in the world with excellent infrastructure and a highly skilled workforce available to those companies, including Herencia, intent on building successful mining operations."

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Thor Mining (LON:THR) has raised A$100,000 through a placing of 25,000,000 new ordinary shares to sophisticated investors at 0.4 cents per share. The proceeds will be used to fund the company's working capital requirements, including continued assessment of its advanced Molyhil tungsten project in Australia's Northern Territory primarily, and where prudent, its gold projects in the Northern Territory and Western Australia.

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The sector's biggest riser was Anglesey Mining (LON:AYM) - up by more than 18% in late trading - while the biggest faller was ScotGold Resources (LON:SGZ) - down by more than 10.5%.





At 3:43pm:

(LON:AMI) African Minerals Ltd share price was +0.13p at 108.63p

(LON:AQP) Aquarius Platinum Ltd share price was +1.13p at 25.13p

(LON:AYM) Anglesey Mining PLC share price was +0.5p at 3.25p

(LON:BEM) Beowulf Mining PLC share price was +0.1p at 4.65p

(LON:BKY) Berkeley Resources Ltd share price was -0.13p at 15.25p

(LON:CEY) Centamin PLC share price was -0.05p at 60.8p

(LON:CHL) Churchill Mining PLC share price was 0p at 17.75p

(LON:CZA) Coal of Africa Ltd share price was +0.06p at 3.96p

(LON:FDI) Firestone Diamonds PLC share price was +0.01p at 3.63p

(LON:FRES) Fresnillo PLC share price was +2.5p at 847.5p

(LON:GEMD) Gem Diamonds Ltd share price was +0.88p at 160.88p

(LON:HER) Herencia Resources PLC share price was 0p at 0.44p

(LON:HOC) Hochschild Mining PLC share price was +4.5p at 155p

(LON:KMR) Kenmare Resources PLC share price was +0.13p at 10.88p

(LON:LMI) Lonmin PLC share price was +13.3p at 261.3p

(LON:MTL) Metals Exploration PLC share price was +0.13p at 7p

(LON:THR) Thor Mining PLC share price was -0.01p at 0.19p

(LON:VED) Vedanta Resources PLC share price was +32.5p at 1082.5p