Aluminium
Metals join other commodities in declines
by Elaine Frei
Most metals prices were lower on Monday as investors worried less about inflation as commodities prices generally declined.
May copper traded just half a cent lower in New York to $3.83 per pound in New York and also traded about even in London, where three-month copper was at $8,395 per tonne, or $3.81 per pound.
The declines […]
Kent Exploration closes private placement
by Tara Malhotra
Kent Exploration Inc reports that the TSX Venture Exchange has accepted for filing the Company’s previously announced non-brokered private placement, under which the Company has raised gross proceeds of $400,500.
Units were priced at 15 cents and consist of one common share and one common share purchase warrant exercisable at $0.225 cents for a term of […]
Iron Creek announces receipt of conditional approval
by Tara Malhotra
Iron Creek Capital Corp. announces that the TSX Venture Exchange has conditionally approved the acquisition by the Corporation of all of the issued and outstanding securities and debt of Compania Minera Mena Resources (Chile) Limitada (Mena Chile). Mena Chile is an indirect subsidiary of Rusoro Mining Ltd., a public mining and exploration company whose shares […]
Kirkland Lake Gold wins safety awards
by Tara Malhotra
Kirkland Lake Gold Inc. has won both the Angus D. Campbell Award and the Robert E. Dye trophy for 2007.
The Angus D. Campbell award, first presented in 1950, is presented annually to the company operating in northeast Ontario with the lowest frequency of accidents. The award was presented jointly to both Kirkland Lake Gold and […]
Prospectors head for California in modern-day gold rush
by Gill Montia
The headline-grabbing rise in the price of gold has led to a modern-day version of the Californian gold rush.
Having exceeded the psychological barrier of $1,000 oz earlier this month and remained above $900 oz since, gold is once again drawing prospectors to California in search of the precious metal.
According to a report in The Financial […]
Vale and Xstrata seek other opportunities as merger plans fail
by Gill Montia
While merger negotiations between Vale and Xstrata have broke down, analysts are predicting that both companies will be looking for other acquisition opportunities.
According to mining company experts at Citigroup, “The demise of the Vale/Xstrata deal may not be the end, but just the beginning of a new wave of mining/metals M&A.”
In a recent report the […]
Copper drops on demand concerns
by Elaine Frei
Metals prices were lower on Friday.
Among base metals, May copper was down 4 cents to $3.83 per pound in New York after early gains.
Demand concerns drove the declines, with analysts predicting that copper prices will continue to trend downward as the year progresses.
The declines came even though London Metal Exchange inventories dropped by 5.4 percent […]
BHP falls out with Standard Bank
by Gill Montia
BHP Billiton, the world’s largest miner, is changing banks as an indirect result of the South African power crisis.
The group has been carrying out annual business with Standard Bank (worth more than $300 million) for a number of years.
However, it transpires that a senior executive at Standard Bank attended a meeting between the South African […]
Colorado Goldfields hires Geological Engineer
by Tara Malhotra
Colorado Goldfields Inc announced that Simon B. Russell has joined the company in the capacity of mining engineer. Upon the anticipated close of the previously announced transaction to acquire a 75% interest in Besmer, S.A. de C.V., Mr. Russell will serve as project manager for the company’s Mexican operations.
Mr. Russell graduated with a Bachelor […]
Golden Arrow provides drilling results
by Tara Malhotra
Golden Arrow Resources Corporation announce assay results from the 5-hole 1,553m reverse circulation (RC) drill program carried out in November-December 2007 on the Poncha Gold-Copper Project in San Juan, Argentina. The 5 holes tested geochemical-geophysical targets within the 2km by 2km South Target epithermal precious/base metal zone, completing the Phase II drill program started in […]
GBS Gold provides feasibility results
by Tara Malhotra
GBS Gold International Inc has released the feasibility results and initial mineral reserve estimate for the Cosmo Deeps underground gold mining project within its Union Reefs Operations Centre in the Northern Territory of Australia.
- Production is expected to commence in the first half of 2010 and to build to an average rate of 75,000-100,000 […]
Gold even in New York as silver, platinum see gains
by Elaine Frei
Some prices for precious metals were higher after early declines on Thursday on gains by the US dollar versus the euro.
June gold was trading even at $954.20 per troy ounce near the close of floor trade in New York after being lower most of the session, while May silver added 17 cents to $18.55 per […]
US Gold updates Mexico exploration
by Tara Malhotra
US Gold Corporation announces results from its Magistral Mine and surrounding regional projects in Sinaloa State, Mexico. Exploration from the Magistral Mine intersected 0.093 opt (ounces per ton) gold over 101 ft. (3.17 gpt (grams per tonne) gold over 30.8 meters). Projects outside the mine area continue to deliver interesting results. Highlights from the Shakira […]
Terra drills six more holes at Midwest NE
by Tara Malhotra
Terra Ventures Inc. provides an exploration update on the Midwest NorthEast Uranium property in which Terra owns a 10% production carried interest. Hathor Exploration owns the remaining 90% in the property.
Hathor Exploration Limited announces gamma ray scintillometer results from an additional seven drill holes completed on its Midwest NorthEast Property, Saskatchewan, in the immediate vicinity […]
Southern Silver updates exploration
by Tara Malhotra
Southern Silver Exploration Corp. reported an exploration update on the company’s projects in Mexico, Arizona and New Mexico.
Southern Silver has completed the second phase of drilling on the San Luis prospect. As of January 2008, a total of 4,832 metres of drilling had been completed in 20 drill holes which targeted an 800 metre strike […]
Precious metals prices rise again
by Elaine Frei
Precious metals prices were up again on Wednesday as the US dollar declined versus the euro after a business confidence index in Germany showed unexpected gains and the president of the European Central Bank predicted that high interest rates would hold inflation in check.
April gold added $13.60 to $948.60 per troy ounce in near the […]
Rio pursues growth as BHP offer dismissed at too low
by Gill Montia
Rio Tinto has made it clear that its rejection of BHP Billiton’s $147 billion hostile takeover bid was based on price alone.
Tom Albanese, Rio’s chief executive, has always argued that the offer of 3.4 BHP shares for one Rio share undervalued the group.
This week he restated his position while being questioned by reporters in Australia, […]
Fronteer aims to double gold resource base
by Tara Malhotra
Fronteer Development Group Inc. announces a global exploration program that aims to double the Company’s gold resource base over the next two years.
Among its extensive pipeline of gold projects in Nevada and northwestern Turkey, Fronteer currently has a full or partial interest in five growing gold deposits with NI 43-101 resource estimates. Fronteer’s current attributable […]
Golden Eagle begins rehabilitation of C Zone gold mill
by Tara Malhotra
Golden Eagle International, Inc. has begun the rehabilitation of the site approved for construction of its C Zone gold mill in eastern Bolivia after that area sustained over 100 days of torrential rains since the Company’s successful public hearing to finalize its environmental permit on November 30 2007. Eastern Bolivia has been pummeled by 100-year […]
Escape Gold drilling defines geological structure at Red Rock
by Tara Malhotra
Escape Gold Inc. successfully intercepted the mineralized structure as outlined by the Titan geophysical survey and validated its extensive re interpretation of the geological structural model hosting the bonanza gold/silver epithermal veins. The Red Rock low sulphidation epithermal system has seen in excess of 140 drill holes over a twenty year period without defining the […]