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Proactive news summary including Golden Saint Resources, Active Energy, DiamonCorp and Stratex International

Published: 02:51 29 Aug 2014 AEST

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Shares in Golden Saint Resources’ (LON:GSR) soared almost 23% to 2.675p this afternoon on news of itssponsorship of artisanal miners in the Pujehun district of Sierra Leone.

The company revealed that four yellow stones with approximate sizes of 2.3 carats, 4.20 carats, 10 carats and 10.34 carats have been unearthed.

Golden Saint believes that such early recoveries are a promising sign for future finds and as a result its subsidiary, Golden Saint Diamonds (GSD), is considering sponsoring additional artisanal miners in the area.

In other news, DiamondCorp (LON:DCP) confirmed it is on course to bring the underground mine at the Lace project in South Africa on line six months ahead of schedule.

The group outlined plans to accelerate the ramp-up last month (July), which means it will begin processing high grade upper portion of the kimberlite in first half of next year.

September is set to be a busy month for Minds + Machines (LON:MMX), as several of its top level Internet domains become more widely available.

The following new generic top level domains (gTLDs) in which Minds + Machines has an interest will go on general availability (GA) to the public on the following launch dates in September: 9th - .london ; 15th - .cooking, .country, .fishing, .horse, .rodeo, .vodka ; 25th - .beer, .surf ; 30th - .bayern .

Up till those launch dates, the domains – the bits after the final dot in a web address – have only been available to priority candidates, such as trademark owners.

Back to drilling and Stratex International (LON:STI) has hailed results from the drilling programme at the Nyakagwe Village target on the Tembo gold project in Tanzania.

The company alerted shareholders to an announcement from the Toronto-listed Tembo Gold Corporation, in which it has a 12.9% stake.

Tembo said the best results included 35.14 grams per tonne (g/t) gold (Au) over 2.45 metres (m) from 53.35m at hole TDD0111, and 2.74 g/t Au over 8.50m from 53.00m at TDD0115.

Aminex’ (LON:AEX) priority is repaying debt and expanding its business in Tanzania, says chief executive Jay Bhattacherjee.

In Thursday’s interim results statement Aminex told investors that it is fully-funded for its current work programme, following a US$15mln fund-raise during the period.

Finances were also boosted by the sale of non-core American assets, which delivered cash upfront as well as a future revenue stream, and an extension of an US$8mln working capital facility. 

Losses for the period totalled US$4.74mln compared with a US$4.12mln loss for the same period of last year.

Active Energy (LON:AEG) shares advanced 9% it told investors that a landmark forestry deal with three indigenous groups in Alberta, Canada, is a lot larger than first envisaged.

The exclusive joint-venture (JV) was initially set up to commercialise 100,000 hectares of remote western Canada, yielding more than 20mln cubic metres of standing timber, but in an update, the group said the figure is likely closer to 200,000 hectares.

It is currently carrying out extensive sampling to assess the volume of standing timber involved.

Australian Strategic Materials signs US$600 million LoI

Rowena Smith, CEO and managing director of Australian Strategic Materials Ltd (ASX:ASM, OTC:ASMMF), joins Jonathan Jackson in the Proactive studio to discuss the company’ s Dubbo Project, in Central West New South Wales. This project aims to extract and process critical minerals and rare earth...

10 hours, 21 minutes ago