Fox-Davies Capital Tuesday Energy and Mining News Wrap

Aminex (AEX) intends to place 116.3m new shares at 6p a share, raising about £7m before expenses. The company is also offering up to 30m share 1 for 8 rights issue to existing qualifying shareholders, to raise another £1.8m. Astaire Securities has been appointed as the company’s London broker.

Pantheon Resources (PANR) has brought into production the Jumonville-2 well in Louisiana after successful testing. Initial rates are 750b/d of oil and 250,000 cf/d of gas; additional objectives will be targeted in further appraisal wells across the prospect and should add to production levels at some point in the future. Permanent production facilities and infrastructure are in place to support the increase.

Bezant Resources (BZT) announces metallurgical testwork results on samples from its Mankayan copper/gold Project, located 260km north of Manila in the Philippines. Independent laboratory testwork indicates 94% copper recovery and 74% gold recovery with all impurities below penalty levels.

Sylvania Resources Ltd (SLV) and Ruukki Group plc, a company incorporated in Finland today announce that they have entered into a merger implementation agreement pursuant to which Ruukki will acquire, subject to satisfaction of certain conditions, all of the issued and to be issued share capital of Sylvania under an Australian law governed scheme of arrangement between Sylvania and its shareholders. Under the Scheme each Sylvania Shareholder will receive 1 Ruukki share for every 1.81 Sylvania shares held on the Sylvania Scheme record date.

Norseman Gold (NGL) Norseman Gold, releases its updated Resource Statement as at 31 March 2009 for its Norseman Gold Project, located in the Eastern Goldfields of Western Australia. Proven and Probable Reserves increased to 0.4 million ounces of gold (1.4 million tonnes at a grade of 8.9 g/t), an increase of 29% to the reserve ounces compared to the reserve as at 31 March 2008. Measured, Indicated and Inferred Resources increased to 3.7 million ounces of gold (20.0 million tonnes at a grade of 5.5 g/t), an increase of 95% compared to the resource as at 31 March 2008.

Aurum Mining (AUR) announces that it has granted options to facilitate the disposal of both its 80% interest in the Andash gold-copper mining project and its ancillary assets, consisting mainly of a mining and construction fleet. The options have been granted to ASX listed gold mining company, Kentor Gold Limited. If the options are exercised, Aurum will realise US$10m from its 80% stake in the Andash project and a further US$5m for its share of the ancillary assets.

Conroy Diamonds & Gold (CDG) announces that rock chip sampling has confirmed the presence of gold values in bedrock at its new Clay Lake target in Co.Armagh, Ireland where the Company has previously identified a gold-in-soil anomaly. The samples were collected along a 100 metre section of a stream bed in the north-west part of the target, and all four samples contain gold. The highest value, 1.31g/t gold, was reported from sample CLR 3, and the other three returned gold values of 0.28g/t (CLR 2), 0.12g/t (CLR 4) and 0.05g/t (CLR 1).

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