Shares in Medavinci jumped after it said it has begun its exploration project on the Deli Jovan Gold Project in Serbia.

The mineral explorer, which used to invest in medical technology, said the start of the planned re-opening of the mine is planned for 2011.

Elsewhere in mining, Nyota Minerals shares advanced after it announced a 'significant' discovery at the Tulu Kapi gold deposit in Ethiopia.

Prosperity Minerals, a supplier of iron ore to China, has announced that it has established a joint venture to explore for and produce the commodity in Brazil.

It has agreed to acquire a 70% interest in 'Lead Hero' for $20m (£12.7m). Lead Hero will acquire a 50% in joint venture vehicle UGL, which will own about 602.3km² of exploration rights and 3.01km² of mining concession in the state of Ceara.

Related share prices
Nyota Minerals Ltd. (NYO) share price
MeDaVinci (MVC) share price
Prosperity Minerals Holdings Ltd. (PMHL) share price