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The perils of mining, even in nations regarded as politically stable, was high-lighted by Shanta Gold, which fell 2¾p to 2½p after giving warning that militant “artisanal miners” were preventing it from starting drilling at its main gold prospect, Mgusu, in the Victoria Lake Gold Field in northern Tanzania. Shanta has to surrender half the area of one of its licences by September, but without drilling cannot determine which areas to give back. It may have to write off the licence’s value if the authorities cannot evict the miners in time. Filtronic, the maker of transmitters for mobile phone base stations, rose 8p to 79¾p ahead of annual results on Monday expected to show a swing from loss to profit. There may also be news on a disposal of its defence unit. Nautical Petroleum, the explorer for heavy oil in the North Sea,... [read full story]
