Aluminium
Gryphon Gold, American Bonanza merger
by Jo Black
Gryphon Gold Corporation and American Bonanza Gold Corp. have signed a Letter of Intent to merge American Bonanza into a wholly owned subsidiary of Gryphon Gold through a Plan of Arrangement. Shareholders of American Bonanza will receive 0.50 shares of Gryphon Gold for every share of American Bonanza and options and warrants will be exchanged [...]
Precious metals prices lower on session
by Elaine Frei
Precious metals prices fell on Tuesday, with gold lower as demand for bullion from key buyer India fell.
April gold dropped $16.20 to $910.50 per troy ounce near the close of floor trade in New York, while March silver fell 22 cents to $17.25 per troy ounce and April platinum fell from record highs as it [...]
Fox Resources starts production
by Jo Black
Pilbara nickel explorer and producer, Fox Resources Limited has commenced production of its second stream of nickel concentrate from the Company’s Radio Hill operations in Western Australia.
This particular nickel concentrate, called “Z con”, is being sold to Jinchuan Group Limited (Jinchuan) in a strategic offtake agreement, announced on 6 February 2008. The Z con is [...]
Global Copper udates drilling
by Jo Black
Global Copper Corp. announces results from a further eight holes in the sulphide drilling program at its Relincho copper-molybdenum project in Chile. Results are highlighted by step-out holes RG06-215 that returned 356 meters grading 0.75% copper and 0.056% molybdenum (1.08% copper equivalent(ii)) and RG06-214 which intersected 456 meters grading 0.69% copper and 0.051% molybdenum (0.99% [...]
IronClad agreement on Hercules
by Jo Black
IronClad Mining Limited has secured the extension to the recently identified Hercules prospect through the signing of a Heads of Agreement with Lincoln Minerals Limited under which IFE can earn up to 80% of the rights to explore and mine Iron Ore within LML’s tenement, Exploration License (EL) 3690.
EL3690 lies immediately to the south and [...]
Platinum prices rise more than $55 per ounce
by Elaine Frei
Platinum prices hit yet another new high on Monday as Anglo Platinum (JSE: AMS) said its output will drop again this year, at least partly due to the current energy shortage in South Africa.
April platinum traded $55.40 higher to $1,939.40 per troy ounce in New York and some analysts said they expect the price for [...]
Copper stocks low despite Chinese holiday
by Gill Montia
A recent fall in copper stocks has presented something of a conundrum to observers as demand from China has lessened because of the Lunar New Year holiday.
Demand from Japan has also bee suppressed by a public holiday.
The decline in stocks has seen the price of copper on the London Metal Exchange increase to its [...]
Canadian Zinc provides drilling results
by Jo Black
Canadian Zinc Corporation reports drill assay results from the first section of the Phase 2 underground diamond drill program completed late in 2007 from the recently established decline tunnel at the Company’s 100% owned Prairie Creek lead/zinc/silver mine in the Northwest Territories.
Assay results have now been received for the ring of six drill holes completed [...]
Mirabela says positives result from study
by Jo Black
Mirabela Nickel Limited announces that a scoping study for a nickel sulphide smelter at its Santa Rita project has returned positive results with preliminary cost estimates as follows:
Capital expenditure – US$254m
Operating cost – US$111/t of concentrate
As a result of these encouraging results, the Company is proceeding with a full feasibility study to build a smelter [...]
Gulf, Waygara Mines joins hands
by Jo Black
Gulf Mines Limited has entered into an Option Agreement with Waygara Mines Pty Ltd, a company resident in Queensland, who is the owner of a potentially significant Iron Ore Project, 25 km north of Lakes Entrance in Eastern Victoria.
• The Nowa Nowa project covers approximately 100 sq kms.
• There are at least 10 very large [...]
Platinum prices set another record
by Elaine Frei
Precious metals prices saw gains on Friday, with platinum setting yet another record.
April platinum was trading $32.60 higher at $1,884 per troy ounce in New York shortly before the end of floor trade.
The new record came on concerns that production will decline in South Africa and Russia, and on predictions that the price of platinum [...]
Copper gains on supply worries
by Elaine Frei
Base metals prices were up on Friday as trade volumes were higher than expected this week despite the fact that many markets in Asia were closed for Lunar New Year celebrations.
March copper added 9 cents to $3.54 per pound in afternoon trade in New York and 3-month copper in London was up $150 to $7,700 [...]
Ernst & Young takes metals analysts to task
by Gill Montia
Ernst & Young, the business services group, has published a report in which it questions “the accuracy of outcomes for the recent metal price forecasts”.
The paper, entitled EYeSight on Consolidation: Backpedalling on the cycle, examines three key themes:
1. Looking further back than the usual five to 10 year timeframe, how cyclical is the sector, and, [...]
Atlas acquires iron ore rights
by Jo Black
Atlas Iron Limited has entered into an agreement to acquire the iron ore rights to 10 Pilbara tenements from Talison Minerals Pty Ltd (Talison).
Summary of the Agreement
1. AGO acquires 100% of the Fe rights in exchange for payment of $4,000,000 to Talison in AGO shares upon execution of a formal agreement, which needs to be [...]
West Timmins extends drilling zones
by Jo Black
West Timmins Mining Inc. announces that ongoing drill testing on the Company’s 100% owned Thorne Property, part of the West Timmins Gold Project, has extended the Pond and West Gold Zones. Key intercepts include 1.15 metres grading 10.17 g/t gold from the Pond Zone and 5.20 metres grading 1.29 g/t from the West Zone.
Drill Hole [...]
Energold drilled record number of metres
by Jo Black
Energold Drilling Corp. had drilled a record number of meters for the year ended December 31, 2007. The fourth quarter, typically the slowest quarter of the year due to seasonality, saw the Company drill 52,800 net meters, the most meters in a single quarter. As a result of the October 2, 2007 rationalization of its [...]
Precious metals gain on session
by Elaine Frei
Precious metals prices were higher Thursday.
Gold and silver both rose in New York on the possibility that more central banks around the world will cut interest rates after the Bank of England cut the UK interest rate and the European Central Bank left the door open for rate cuts later in the year.
April gold added [...]
Taseko’s Gibraltar concentrator expansion
by Jo Black
Taseko Mines Limited provides an update on the concentrator expansion at its 100% owned Gibraltar Mine in south central British Columbia.
The Semi-Autogeneous Grinding Mill (”SAG mill”) and its Ancillary operating components were released from the construction group to Gibraltar’s mill operations team December 27, 2007. Over the past 4 weeks, conversion work on the secondary [...]
Garrison final drill hole results for Tovshiir
by Jo Black
Garrison International Ltd. announces full drill results from the drilling program recently completed at its Tovshiir project site in Suhkbaatar District, Mongolia. A Chinese-Mongolian joint venture previously operated a mine at this site for 2 1/2 years until Asia Intercept Mongolia LLC, a joint venture partner of Garrison, purchased the license in September 2006. In [...]
Significant assay results from Carina drilling
by Jo Black
The Directors of Polaris Metals NL announces the receipt of the first drill hole assays from the Carina prospect, part of the Yilgarn Iron Ore Project (YIOP), 60km north of Koolyanobbing in Western Australia.
Drill-hole CA0011 intersected 112m of hematite and goethite mineralisation including:
Reverse circulation drill hole inclined -60° - true width approximately 80% of intersection [...]