Tertiary Minerals' (LON:TYM) shares were up in late trading after it confirmed the submission of the Storuman Exploitation (Mine) permit application and provided an update on further progress for the Storuman project.

"We are delighted to announce the submission of the Exploitation (Mine) Permit application for the Storuman Project which represents an important milestone in the development cycle of our most advanced fluorspar project," said MD Richard Clemmey.

"Drill planning is currently under way for the MB Project in Nevada USA and further details will be announced in the coming weeks," he said in a statement.

Storuman Highlights:

- Exploitation (Mine) Permit application has been submitted to the Swedish Mining Inspectorate (Bergsstaten)

- - Further results for the Preliminary Feasibility metallurgical testwork have been received and additional optimisation work is ongoing

- Scoping of processing and mine development plans are underway in order to focus on further elements of the Preliminary Feasibility Study

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Last month Sun Avenue Partners ("SAPC") and Sunkar Resources (LON:SKR) announced that they had reached agreement on the terms of a recommended cash offer to be made by SAPC for the entire issued and to be issued share capital of Sunkar it did not already own.

Sunkar shareholders have been reminded that the first closing date of the offer is next Tuesday.

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Sirius Minerals (LON:SXX) confirms it has entered into a Memorandum of Understanding with the Ministry of Agriculture Food Security and Cooperatives of the United Republic of Tanzania.

The MOU is to collaborate around research on polyhalite to support its introduction into Tanzania in accordance with the approval processes provided for under the relevant fertilizer regulations frameworks in Tanzania.

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Herencia (LON:HER) has announced further high-grade copper assay results from drilling at its advanced Picachos copper project in northern Chile, plus significant silver assays from the same programme.

The results are the final assays from our inaugural 3,540 metre drill programme at Picachos.

The company will now analyse all data with the view to establishing a preliminary geological model from which the next stage of the Picachos development will be planned.

Given the high number of shallow and high grade intersections seen throughout this program it is possible that the Picachos project could support multiple open pits to provide operational flexibility - an important consideration in the mine planning process.

The shallow nature of the mineralisation also lends itself to quick and cost effective access to ore.

The most recent assay results include:

- Hole PP14020 18m at 1.33% copper and 6.1g/t silver from 60m including 10m at 2.04% copper and 8.5g/t silver from 66m

- Hole PP14021 5m at 1.36% copper and 15g/t silver from 25m; and

18m at 1.0% copper and 7.8g/t silver from 76m including; 10m at 1.68% copper and 10.3g/t silver from 79m; 4m at 2.30% copper and 14.8g/t silver from 81m

- Hole PP14025 6m at 1.34% copper and 15.8g/t silver from 47m including 2m at 2.67% copper and 38g/t silver from 50m; and 5m at 1.06% copper and 9.8g/t silver from 77m;

- Hole PP14027 11m at 1.18% copper and 5.9g/t silver from 72m including 7m at 1.53% copper and 7.3g/t silver from 76m

- Hole PP14028 20m at 0.89% copper and 8.3g/t silver from 62m including 3m at 1.41% copper and 15.7g/t silver from 63m;

- Hole PP14017 4m at 1.10% copper and 11g/t silver from 9m; 3m at 1.60% copper and 10.3g/t silver from 41m; 5m at 1.29% copper and 8.4g/t silver from 73m

- Hole PP14018 15m at 0.89% copper and 7.66g/t silver from 64m including: 4m at 1.67% copper and 13.5g/t silver from 75m

- Hole PP14024 9m at 0.97% copper and 5.4g/t silver from 41m

- Hole PP14029 17m at 0.80% copper and 3.5g/t silver from 13m including: 5m at 1.16% copper and 6.2g/t silver from 24m

Managing director, Graeme Sloan, said: These high-grade copper results are a continuation of the great results announced over the last four weeks and clearly demonstrate that Picachos is not a 'one-hole' wonder, but rather a high grade copper project with excellent tonnage potential.

"Picachos has already delivered multiple wide, high grade intersections including 91m at 1.42% copper, 45m at 1.70% copper and now 18m at 1.33% copper backed up by numerous additional zones of broad plus 1% copper intercepts, all of which add to the overall picture of what could be a very special project.

"These latest results are close to the surface and it is important to note that just about every zone targeted by our drill program achieved shallow high grade copper hits.

"In addition to the copper grades we are now seeing silver results coming through from the assay laboratory, which range up to 38g/t. These are significant values as they potentially add to the low-cost theme at Picachos, whereby silver credits may cover a significant percentage of future mining costs.

"I believe Picachos can potentially be developed quickly, with a very low capital cost. Any credit from a silver by-product will just lower what we already believe will be a low operating cost environment, given the shallow open pit-able nature of the mineralisation."

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Anglesey Mining (LON:AYM)which is concentrating its activities in the base and bulk minerals sectors is pleased to provide the following updates on its major areas of minerals interest in three different countries.

Parys Mountain:

Micon International Limited is now close to completing a detailed review of the mineral potential of the entire Parys Mountain property in North Wales.

This review will cover both those resources on which Micon has previously provided JORC compliant indicated and inferred resource estimates as well as studying a number of other deposits and locations within the property that were not included in those estimates.

The report, which is due within a month, will enable Anglesey to better plan its development strategy for Parys Mountain to ensure that the sizing of future operations is commensurate with the entire mineral potential and will not require expensive additions and compromises once operations begin.

The board continues to review the status of base metals markets and in importantly the zinc market to ensure that the commencement of production at Parys Mountain coincides as closely as possible with the expected resurgence in demand for base metals concentrates particularly in the European environment. There are now positive signs that the long expected future shortfall in zinc concentrate supply related to major mine planned closures is coming closer to fruition.


Anglesey completed its contractual arrangements over the Grangesberg iron ore mine in Sweden in late May and since then the board of Grangesberg Iron AB (GIAB) on which Anglesey holds three out of five board seats has been actively pursuing the restart of development activities at Grangesberg. These activities had been largely suspended for a number of months during the period in which GIAB was undergoing corporate reconstruction and refinancing.

Two major activities are now being progressed that together will enable GIAB and Anglesey to progress the development plan for the reopening of the Grangesberg mine. The first is a review of the resources at the property and it is expected that this will enable a resource estimate to be able to be made under the NI 43-101 standard.

Such a compliant resource will ensure that future financing of project can proceed smoothly. The consultant to carry out this work has been selected and it is expected that a report on this estimate will be delivered to GIAB in August.

The second activity will look closely at geo-mechanical and hydro-geological aspects of the site which will be critical components of the permitting regime required for the dewatering and reopening of the mine. The principal consultant who will oversee this work, which will include drilling boreholes into the general mine area and the capture and interpretation of key data on the physical aspects of the ground and hydrological conditions, has been nominated and is preparing specifications for the selection of contractors.

It is expected that all the drilling and analysis will be completed during the autumn and will allow the first stage of permit applications to be prepared and submitted.

A number of other commercial and marketing studies will commence as soon as the Swedish summer holiday season is over.

On 12 June the Swedish government rejected an appeal against the grant of the mining concession to GIAB. As a result this 25 year mining concession is now in full force and effect.


Labrador Iron Mines Holdings Ltd in which Anglesey holds a 15% interest today released its FinancialStatements and Management Discussion and Analysis.

Key points are:

LIM completed its third operating season in December 2013 and achieved sales of approximately 1.7 million wet tonnes of iron ore and recognized net revenue of $85.9 million for fiscal 2014.

LIM's sales were achieved at the expense of product quality, which impacted revenues and resulted in a net loss reported for of C$105.2m including a depletion and depreciation charge of C$33.6m.

LIM entered into a joint venture with Tata Steel Minerals Canada for the exploration and development of LIM's Howse deposit by selling a 51% interest in Howse for C$30m.

LIM completed its 2013 exploration programme of over 12,000 m of diamond and reverse circulation drilling.

The focus of LIM's 2014 activities will be the development of the Houston Mine and, subject to completion of financing, plans to be in a position to begin production from Houston in 2015.

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New World Resources plc (LON:NWR) and New World Resources N.V. announce the company has agreed revised terms to the previously announced consensual restructuring transaction with the joint committee of holders of its senior secured notes and senior unsecured notes, and certain individual noteholders.

The terms of the senior unsecured note cash tender have been changed. The other terms of the transaction remain similar to those announced on 2 June 2014. The change ensures that the transaction is fully funded. The revised agreement is supported by 62% of the senior secured notes; 37% of the senior unsecured notes; and the majority shareholder BXR Mining B.V. who all have executed the new lock-up agreements.

The existing lock up agreement dated 2 June 2014 has terminated. Noteholders wishing to support the revised transaction terms should execute new lock up agreements. A new early bird consent fee is offered and will be payable in respect of all notes locked up by 5pm UK time on 11 July 2014.

In parallel with the implementation of this revised consensual transaction, the Company has agreed alternative restructuring terms with certain holders of senior secured noteholders should the requisite votes to support the consensual restructuring from senior unsecured noteholders and from shareholders not be obtained.

As part of this contingency planning, the Company is commencing today a sale process for its operating subsidiaries: OKD a.s. in the Czech Republic and NWR Karbonia S.A. in Poland (together the 'Assets') today.

This process is an important part of the Company's contingency planning to ensure the continuation of the operations of these Assets should the requisite senior unsecured noteholders and shareholders not support the revised consensual transaction. If the noteholders and shareholders have approved the transaction the contingency planning will no longer be necessary and the sale process ends.

At 4:14pm:

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