Mining Roundup

Ariana Resources (LON:AAU) was the sector's biggest faller - down by more than 9.2% in late trading - after it announced it had raised £900,000, gross, through an oversubscribed placing of 56,250,000 new ordinary shares at 1.6 pence apiece.

The net proceeds will be used to advance the company's projects outside of Kiziltepe, and to support ongoing working capital requirements.

Managing director Dr. Kerim Sener said: "We are pleased to be raising £900,000 at this important time in the evolution of the Company. Following the recent acquisition of 100% of the 1 million ounce Salinbas Project and the completion of a highly encouraging scoping study at Tavsan, the funds raised will be utilised to advance these projects in particular.

"Both projects require additional value additive work that it is important that we conduct during the winter months and immediately ahead of the exploration field season. Completing this work while Kiziltepe is in the process of entering production, will contribute significantly towards our strategy to enhance our production profile towards 50,000 oz gold per annum."

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Alba Mineral Resources (LON:ALBA) has introduced a new enterprise management incentive plan to strengthen its ability to attract and retain executives and staff through ensuring participants receive competitive incentives which align their interests with those of the company's shareholders.

Following adoption of the EMI scheme, the remuneration committee has today made the following awards:

Executive chairman George Frangeskides: 15 million share options vesting the day following 13 January 2017 (the date of grant). A further 15 million share options vesting on each of the dates falling 6, 12 and 18 months following the date of grant. These options are issued pursuant to the EMI scheme, have an exercise price of 0.4p and expire on the tenth anniversary of grant if not exercised.

Chief executive Michael Nott: 15 million share warrants vesting immediately at an exercise price of 0.4p and an expiration date of 27 March 2021. These share warrants are not issued under the EMI scheme.

Those share options granted under the EMI scheme are subject to accelerated vesting in certain circumstances, including pursuant to a change of control of the company following a completed takeover offer.

In aggregate, a total of 75 million share options and share warrants are being awarded, albeit that there is no certainty that all these awards will vest and therefore be capable of exercise.

Together with the 60 million share warrants previously issued to the directors, the total number of share options and share warrants granted to the Directors (both vested and unvested) represent approximately 7.4% of the current issued share capital of the company.

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DiamondCorp (LON:DCP) has announced a proposed conditional placing to raise gross proceeds of around £1 million through the issue of new ordinary shares with attached warrants on the basis of one warrant for every placing share subscribed.

It is expected that the placing shares will be priced at, or around, 4 pence each, with each warrant expected to be exercisable at 1 pence between 1 November 2017 and 30 June 2019.4

The placing is being conducted through a bookbuilding process which is expected to close no later than 9 a.m. on 19 January.

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The sector's biggest risers were Stratex International (LON:STI) and Arian Silver (LON:AGQ) - up by more than 4.1% and over 3.5% respectively in late trading.

At 3:59pm:

(LON:AAU) Ariana Resources PLC share price was -0.18p at 1.73p

(LON:AGQ) Arian Silver Corporation share price was +0.03p at 0.73p

(LON:ALBA) Alba Mineral Resources PLC share price was -0.01p at 0.35p

(LON:BEM) Beowulf Mining PLC share price was -0.12p at 7.88p

(LON:BKY) Berkeley Energia Ltd share price was +0.5p at 67p

(LON:CEY) Centamin PLC share price was -0.25p at 150.95p

(LON:CZA) Coal of Africa Ltd share price was +0.01p at 3.51p

(LON:FDI) Firestone Diamonds PLC share price was 0p at 50.5p

(LON:FRES) Fresnillo PLC share price was -19p at 1403p

(LON:GEMD) Gem Diamonds Ltd share price was -0.5p at 114.75p

(LON:HOC) Hochschild Mining PLC share price was +4.9p at 236p

(LON:KMR) Kenmare Resources PLC share price was -6.12p at 263.88p

(LON:STI) Stratex International PLC share price was +0.08p at 1.88p

(LON:VED) Vedanta Resources PLC share price was +4p at 1006p