Minority Report Summary

LSE news summary: Shell, Chemring Group, Metminco, Tanfield, Max Petroleum ...

Metminco ( LON:MNC , ASX:MNC) has confirmed that the Los Calatos is a ‘classic major porphyry system’, based on the results from ongoing drilling. The group acquired the project last year and it has quickly become its flagship asset. A 50,000 metre drill programme began in December 2010. So far 13,000 metres have been drilled, in a total of 10 holes. New World Oil & Gas ( LON:NEW ) has signed a non-binding letter of intent with Danica Jutland ApS, granting the company a 65-day exclusivity period in which to undertake due diligence on two onshore oil concessions in Denmark. The concessions - Licence No. 1/09 and Licence No. 2/09 - total 4,107 square kilometres and are located in the productive Jutland onshore area in Soutern Denmark. Max Petroleum ( LON:MXP ) said this morning that it will sell all of its oil production to Kazakhstan’s domestic market until it receives the full field development (FFD) approval for its Zhana Makat field. The FFD approval will grant Max the right to sell 80 percent of its crude oil production on the export market, which should generate greater revenues. Herencia Resources ( LON:HER ) said it was encouraged by the recent exploration results from the New vein at Patricia, the main target at its flagship zinc-silver-lead-gold Paguanta project in Chile. Exploration at another target at Paguanta, the La Rosa prospect, has also been positive with more work planned for the rest of the year with an aim to unlock its potential, said Herencia.

The company said today that it is currently reviewing the area around hole PTDD073 at the New vein and the eastern end of Patricia, where previous drilling intersected high-grade silver mineralisation. No investment advice

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