Oracle Coalfields has raised almost GBP1 million to cover expected working capital requirements throughout 2013 at the Thar Coalfield Block VI licence area in Sindh Province, southeast Pakistan. Additional funds will be required to develop the Block VI coal mine.
Officials at PNG Gold have announced final gold and silver assay results from 54 diamond drill holes at the Imwauna Main Structure and completion of an exploration program of surface geological mapping, trenching and diamond drilling on the Sehulea Project.
Marengo Mining was last week expected to start a planned diamond drilling campaign of about 2000 metres, targeting the Dimbi zone of the Yandera Central Porphyry System. Completion of the 10-hole program is planned by the end of the 2013 field season, in early December.
Medusa Mining, through its Philippine operating company Philsaga Mining Corporation, advises that production for the September quarter at its Co-O project will be marginally affected by a delay in commissioning of the new mill. Production guidance for the December quarter remains unchanged.