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Forte Energy, Noventa, Sierra Rutile, Thor Mining news briefs

Contributed by Fox-Davies Capital

Forte Energy N.L. announced that the negotiations on prospective corporate transactions that have been in process throughout the past few weeks have not resulted in the agreement of suitable terms for the Company at present. The trading of its stock in Australia has been suspended since 1 February 2013 pending the release of the quarterly reports and while these discussions have been taking place.

The Company is continuing to assess alternative opportunities, and will update the market if and when any developments occur. As a result of the cessation of discussions on the above mentioned transaction, and having lodged its quarterly reports, the Company has requested that trading of its stock resume on the ASX following the release of this announcement.

In the meantime the Company is pleased to announce that it has raised gross proceeds of £587,177, before expenses, under its £10M Equity Financing Facility with Darwin Strategic, a majority owned subsidiary of Henderson Volantis Capital.

Noventa Ltd. announced the following update on the Group's operations. Production of tantalum pentoxide concentrate remains at low levels. The Board expects total production of tantalum concentrate to be between 1,700 and 1,900lbs for February.

The new production plant at Marropino continues to experience a number of technical issues that result in minimal levels of production from this plant. The follow-on analysis of ore grades in the pit at Marropino are materially in line with those outlined in the announcement of 11 February 2013. There have been no material developments at the Group's other interests in Mozambique or the Democratic Republic of Congo. The Board of Noventa remains in discussion with the Lender as regards to the future financing of the Group and a further announcement will be made once those discussions reach a conclusion. The Group has sufficient working capital for its needs at this time. The Company has today entered into an Equity Finance Facility with Darwin Strategic Limited. Darwin is a majority owned subsidiary of Henderson Global Investors' Volantis Capital who manage c.$1.5bn of assets. Darwin is an institutional provider of equity based finance for a variety of sectors in the AIM market. Working in partnership with Henderson Volantis, Darwin specialises in providing AIM companies with flexible, low cost access to capital.

Sierra Rutile Ltd announced the approval by the Sierra Leone Ministry of Mineral Resources of two Exploration Licences adjacent to its current mining licence, Area 1. Sierra Rutile has been granted Exploration Licences over the Jagbwema deposit, located immediately south-east of Area 1, and the Gbangbaia deposit immediately west of Area 1. These licences are in addition to the Semabu Exploration Licence granted in August 2012, which is located approximately 7km to the south-east of the Area 1 mining licence.

The Jagbwema, Gbangbaia and Semabu Exploration Licences cover areas of 109.2km2, 104.9km2 and 189.2km2, respectively. The Jagbwema and Gbangbaia deposits were previously investigated by Sierra Rutile during 2011 and 2012 under reconnaissance licences, with sufficient levels of heavy mineral mineralisation found to warrant a full exploration programme on each.

Thor Mining PLC announced its interim results for the six months ended 31 December 2012. The comprehensive income statement records a comprehensive loss of £926,000 (2011: £554,000) after taking into account a directors review and write down due to an impairment of exploration costs for the half year amounting to £259,000 (2011: £117,000) and unfavourable unrealised exchange differences of £182,000 (2011: £85,000).

The Company remains well positioned for discussions with third parties on potential off-take agreements for the Molyhil Tungsten project and reported a resource upgrade at the Spring Hill gold project and elevated levels of nickel and copper being found at Dundas. Importantly, the Company has been able to attract additional funds to progress these projects and the Directors were delighted to recently announce further funding after the period end.