Europe

Ireland’s Conroy Gold and Natural Resources has announced positive results on its drilling programme at Clay Lake in County Armagh.

Clay Lake covers an area of around 141 hectares and has returned the highest gold-in-soil values recorded by Conroy on its Irish exploration licences. The current drilling programme builds on the company’s previous positive gold results, which revealed the presence of a broad zone of gold mineralisation.

The Competition Commission today confirmed its ruling that BAA should sell Stansted Airport and either one of Edinburgh or Glasgow Airports.

The Commission made its initial ruling two years ago in March 2009, but BAA has been fighting through the courts to retain its portfolio of airports.

After the sale of Gatwick in December 2009 to a consortium led by Global Infrastructure Partners, BAA currently operates six airports: Heathrow, Stansted, Southampton, Aberdeen, Glasgow and Edinburgh.

UK-based clinical contract research organisation Chiltern International has announced further expansion in Europe, with the opening of a new office in Leiden, the Netherlands.

The company, which has its headquarters in Slough, Berkshire, manages phase I-IV clinical trials across a range of therapeutic areas as well as offering functional service provision and contract staffing solutions. It has conducted trials in more than 40 countries since its founding in 1982.

Chiltern has confirmed the appointment of Angela Pasma as Netherlands country manager.

British entertainment legend HMV is considering the sale of its Canadian retail operation to avoid breaking the terms of its debt arrangement.

With debts in the region of $200 million, the sale of assets seems the most likely short term option. HMV is already said to be looking for a buyer for its UK book retailer Waterstones, with Russian billionaire Alexander Mamut an interested party, possibly in partnership with the bookseller’s original founder Tim Waterstone.

Oil and gas major Royal Dutch Shell may spend up to R1.4 billion (approx. €145 million) on exploration in the Karoo region of South Africa, according to a report in Johannesburg’s I-Net Bridge.

Shell has asked the Petroleum Agency of South Africa for permission to explore around 90,000 square kilometres predominantly in the western area of the Karoo Basin.

Virgin Rail Group is one of the companies shortlisted to tender for the new West Coast franchise, it has been announced.

Having revealed its shortlist for the new franchise yesterday, the Department for Transport is expected to publish the invitation to tender in May, with a bid deadline of August. The new franchisee will be announced in December, with the franchise expected to start in April 2012.

The West Coast service runs between London Euston and Glasgow, connecting Scotland, north-west England and the West Midlands to London.

UK-based oilfield services company Expro has secured a £1.5 million well testing contract in the southern North Sea.

Under the terms of the 12-month contract, Expro will carry out well testing with cased hole logging work. The contract comes as an extension to Expro’s existing project work with the client, an international oil and gas operator.

German based photovoltaic systems and components supplier MAGE SOLAR has formally completed the transfer from limited liability company (GmbH) to stock corporation (AG). Shares will be owned 100 percent by its parent company MAGE Industries Holding AG.

"Restructuring as a stock corporation is the logical step to continue the growth strategy of MAGE SOLAR and its eight national and international subsidiaries," confirms Dr. Markus Feil, CEO of MAGE SOLAR AG.

Dutch construction company Remco Afrique has announced plans to continue its expansion into new markets in Africa.

The Best, Netherlands-based company, which specialises in building industrial premises, is taking advantage of the growing demand throughout Africa for new industrial buildings.

The company is currently constructing three industrial buildings in Gabon, with a total surface of 23,650 square metres.

Zambia-based oil and gas exploration company Mafula Energy has attracted $60,000 of investment from London-based investment company Hot Rocks Investments.

Mafula is currently focused on establishing a portfolio of oil and gas exploration assets in Zambia. Nearby countries including Angola, Uganda, DRC and Tanzania have all made significant oil discoveries—thought to be due to their position within the oil-rich East Africa Rift System, from which Zambia could also benefit.