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Centamin Egypt, Gemfields, Nyota Minerals, Continental Coal, Chaarat Gold Hlgs news briefs

Contributed by Fox-Davies Capital

Centamin Egypt Ltd announced its preliminary production results from its Sukari Gold Mine in Egypt for the quarter ended 30 September 2012. Total gold production for the quarter was 60,922 oz, a 20% increase on the corresponding quarter in 2011 but a 10% decrease on Q2 2012. Quarterly throughput at the Sukari process plant was 1,004kt, a 5% increase on the corresponding quarter in 2011 but a 21% decrease on Q2 2012. Plant availability and productivity was impacted by a scheduled SAG mill reline in September and the illegal strike in July.

Gemfields Plc announced it's consolidated financial statements for the financial year ending 30 June 2012. Revenue from emerald and beryl sales more than doubled to US$83.7M (2011: US$40.2M) and Profit before tax and exceptional items increased by 140% to US$47.8M (2011: US$19.9M. The estimated cost of emerald and beryl inventory on hand at the end of the period of US$26.6M (2010: US$18.7M).

Nyota Minerals Ltd announced a new Mineral Resource estimate for its Tulu Kapi Project, in Ethiopia. The new in-situ Mineral Resource estimate for Tulu Kapi is 24.90Mt @ 2.34g/t gold containing 1,872,000 oz of gold using a cut-off grade of 0.3g/t gold. It comprises an upgrade and increase in the Indicated category of 33 per cent to 1,108,000 oz of gold @ 2.36g/t gold; and an Inferred Resource of 764,000ounces of gold @ 2.30g/t gold.

Continental Coal Ltd announced on the 10th September that a number of short-listed parties were interested in making "a significant direct investment and/or acquisition of one or more of its African thermal coal mining assets". It has received requests from a number of these parties to extend the timetable by which final binding offers are due. Given the nature of these bids, the Company has now agreed to extend the Final Bid Deadline from 28 September to 15 October 2012.

Chaarat Gold Hlgs Ltd has released its latest drilling results from the Chaarat Gold Project in the Kyrgyz Republic. All 37 drill holes were in the Tulkubash Zone and all intersected mineralisation. Highlights included 17.49m@8.36g/t, 8.75m@11.08g/t and 6.25m @6.16g/t. These are a very good set of results from Chaarat as not only are they good grades over decent widths the Tulkubash Zone will be the initial mining area of the project as its open pittable and largely oxidised reducing operating costs and initial capex costs. These results should enable the company to increase the current resource which is currently 501Koz @2.93g/t within the projects total resource of 5.59Moz @ 4.08g/t.