Victoria Oil & Gas (VOG:LSE) Now Generating Cash & Producing

Victoria Oil & Gas
20 February 2012
Oil & Gas Exploration and Production
VOG (FTSE AIM ALL SHARE)
Explorer to Producer: Cash Burner to Cash Generator
Latent value in producing assets onshore Cameroon
Investment Case
Production commenced from Logbaba in December 2011 but we are yet to see a re-rating of the stock

Former Senior CAMECO Director Joins URU Metals (LSE:URU)

Major Coup For URU Metals the London Listed Uranium and Nickel Exploration & Development Company as they Announce the Appointment of Roger Lemaitre Cameco's former Director of Worldwide Exploration as their new CEO 

Appointment of Chief Executive Officer

The Board of Directors of URU Metals Limited is pleased to announce that Mr. Roger Lemaitre is joining the Company as Chief Executive Officer with effect from today.

Roger Lemaitre P.Eng., P. Geo., MBA, M.Sc. (Applied), B.Sc. (Applied) is a Professional Engineer and Geologist with more than 20 years of professional experience, predominantly with major mining companies. For the past 11 years, he has held a variety of senior management positions with Cameco Corporation, one of the world's largest uranium producers, and was most recently Cameco's Director of Worldwide Exploration.

In this position, Roger had responsibility for overseeing Cameco's international exploration programs and budgets on 95 different projects coordinated from three offices located on three continents, the negotiation of earn-in and farm-out joint ventures and strategic alliances, and generating and implementing exploration strategies worldwide.

Prior to joining Cameco, Roger was a project and field geologist for senior mining companies and junior explorers searching for copper, zinc and gold.

Roger has a Master of Business Administration from Athabasca University, a Master of Applied Science in Geology from McGill University and a Bachelor of Applied Science in Geological Engineering from Queen's University.

The current Chief Executive Officer, Anton Esterhuizen, will continue to act as joint-Chief Executive for an interim period while there is an orderly transfer of executive responsibilities by him to Roger Lemaitre. Mr Esterhuizen will remain an advisor to the board of URU Metals while concentrating on his other mining and exploration ventures.

Commenting on the appointment, Paul Loudon, Non-Executive Chairman of URU Metals, said:

"It is extremely pleasing that URU Metals has been able to attract Roger Lemaitre as Chief Executive Officer, a highly qualified and extremely experienced engineer and geologist with global exploration experience that fits well with the Company's goal of identifying and developing world class mineral deposits. Roger is committed to the Company's strategy and vision of advancing our existing uranium and nickel projects, as well as entering into joint ventures and making strategic investments in order to create long-term shareholder value.

I would like to thank the outgoing CEO Anton Esterhuizen for his efforts over the past 18 months. In particular, his identification of our extremely promising South African sulfide nickel projects."

Atlantic Coal, More Coal, More Options

Atlantic Coal: US$35mn option on second PA project

AIM-listed open cast coal producer and processor Atlantic Coal Plc. (LON:ATC) (“Atlantic”) announced Wednesday

 that it will option a second anthracite coal property in Pennsylvania for a grand sum of US$35 million.

The company publically states that given the size of the deal tabled, it effectively amounts to a reverse takeover and as such requires shareholder approval. The company stresses that the deal is by no means absolute—Atlantic is yet to conduct due 

diligence on the property, which will run for a number of months—and the company says that the option announced will 

expire on 31 October.

Estimated to contain reserves of 12 million tons Run of Mine (ROM) at a 3.9 strip ratio with 4.1 million tons of clean coal,

 the 410 acre Pott & Bannon property is situated in New Castle Township, Schuylkill County. It is approximately 25 miles 

away from Atlantic’s flagship Stockton Colliery—an opencast anthracite mining and processing operation in the

 Pennsylvania Coal Field.

The news sent shares in Atlantic up 5.1 per cent in mid-morning London trading, valuing the company at £15.28 million.

Magnolia Petroleum MAGP(AIM) The Next Chesapeake

Acreage Acquisition Drives Growth

Mississippi Lime acreage acquisition enhances development potential

Investment Case  Magnolia has acquired 1,484 net acres in the Mississippi Lime, almost doubling its lease holding in onshore US plays 100% ownership of 800 acres and 83.33% of 480 gross acres moves the company towards a step-change in attributable production It has also acquired minority interests in 284 net acres

UraMin AREVA Deal Cleared of any Wrongdoing

AREVA reports today,(15th Feb 2012) that following an intensive internal review and scrutiny of its purchase of UrAmin in 2007, the Supervisory Board of AREVA find that no wrongdoing took place. Whilst some lessons have been learnt.
The report says, 


"Still, in a long-term perspective, the deposits acquired have a legitimate place in the Group's mining portfolio"


This brings to a conclusion a long running saga that has been the subject of pejorative reporting by a number of journalists who clearly had little or if no knowledge of the mining sector and the international safeguards that exist to ensure major deals of this nature are undertaken in what are environments of strong corporate governance and professional good practice. 

Atlantic Coal (LSE:ATC) Set To Smash Production Target in 2012

Atlantic Coal (LSE:ATC) Set To Smash Production Target in 2012. Keep an eye out for these guys, anthracite the place to be in the US, new machinery has been added and the boys are on a roll.

URU Metals LSE(URU) Breaking News

URU Metals (LSE:URU) SAN JV Nickel Project Team are targeting a 1.4 billion tonne nickel asset at the potential world-class Zebediela SAN Nickel project in South Africa