Aluminium
Dutch Gold retains David Brown & Associates
by Jo Black
Dutch Gold Resources, Inc., a developer and operator of proven gold mines and a regional mill in North America, has retained David Brown & Associates to provide an update of its independent third party assessments of the Benton and Gold Bug mines. David Brown & Associates originally conducted an assessment of the Benton Mine in [...]
International Wayside Gold Mines’s new drill program
by Jo Black
The Board of Directors of International Wayside Gold Mines Ltd. report that the Company has engaged EBA Engineering Consultants Ltd. (EBA) of Vancouver, B.C., to complete the permitting process for the proposed Bonanza Ledge open pit mine. EBA will be assisted by Lorax Environmental Services Ltd., which has been working on the Bonanza Ledge Project [...]
Base, precious metals see mixed results
by Elaine Frei
Base metals prices were mixed on Tuesday, with copper seeing gains before dropping to end the session.
May copper was up by nearly 7 cents per pound early in the session on supply worries that were amplified by a strike that stopped work at a mine in Papua New Guinea which produces about 1 percent of [...]
Teck Cominco chief predicts zinc mine closures
by Gill Montia
The head of Teck Cominco, the Canadian mining group, is predicting that zinc prices will begin to rise as the current surplus of the metal forces some marginal mines to close.
The group’s chief executive, Don Lindsay, believes prices will lift in the next year to 22 months, stating: “Zinc will go back up, it’s a [...]
Great Basin receives mining regulatory approvals
by Jo Black
Great Basin Gold Ltd. announces that the South African Department of Minerals and Energy (DME) has approved an amended environmental management plan (EMP) for the sinking of the vertical shaft at its Burnstone development project.
The amended EMP addresses the environmental management in respect to:
1. The original bulk sampling activities;
2. The sinking of a second outlet [...]
Mountain Lake completes private placement
by Jo Black
Mountain Lake Resources Inc. has completed the brokered private placement announced February 20, 2008.
Scarsdale Equities, LLC, the exclusive agent in connection with the Offering, placed 2,260,000 common share units of the Company at a price of $0.60 per Unit to raise gross proceeds of $1,356,000.
The Units consist of one common share and one-half [...]
BioteQ commences metal recovery
by Jo Black
BioteQ Environmental Technologies Inc. announces that metal recovery has commenced at two new water treatment plants, located at mine sites in Australia and China, and that both plants are gradually ramping up production to full capacity. BioteQ expects both projects to provide a three-year pay-back on capital, with the plants contributing to revenues by the [...]
Metals prices lower on session
by Elaine Frei
Precious metals prices were lower on Monday even though both gold and platinum came back from bigger declines earlier in the session.
April gold was down $2.20 to $972 per troy ounce Monday afternoon after going as low as $961.90 earlier, with most of the losses erased after crude oil soared to a new record at [...]
Zambia introduces 15% copper concentrates levy
by Gill Montia
The Government of Zambia is introducing new measures that will apply a 15% export levy on copper concentrates, from the beginning of April.
The Customs and Excise amendment Bill currently before the Zambian parliament, will provide a new regulatory framework that will increase revenue collection from the country’s mining sector.
In the case of the copper concentrates [...]
Minemakers raises AUS$11.55 million
by Jo Black
Minemakers Limited announce that BBY Limited has placed 7.7 million ordinary shares in Minemakers to institutional and sophisticated investors. The placement, at a price of $1.50 per share, was heavily oversubscribed and will raise $11.55 million.
The investors include offshore and domestic institutional funds and high-net-worth clients of BBY Limited. The placement has been completed using [...]
Verena Minerals to sell Bonfim Tungsten project
by Jo Black
Verena Minerals Corporation has signed a binding Letter of Intent with Mineracao Santo Expedito Ltda. of Brazil, pursuant to which Verena has agreed to sell its interest in the Bonfim Project, a past producing tungsten mine in Brazil. Under the terms of the LOI, Verena will receive a payment of US$800,000 for the sale [...]
Conway completes $50,000 private placement
by Jo Black
Conway Resources Inc. has completed a private placement in the amount of $50,000 by issuing 10 Units (non flow-through units) to accredited investors in Quebec.
Each Unit consists of 41,666 common shares of the Company at $0.12 per share and 41,666 warrants of the Company. Each warrant entitles its holder to subscribe for one additional common [...]
Platinum prices plummet on S.A. energy announcement
by Elaine Frei
April platinum prices dropped $159.10 to $2,041.70 per troy ounce after an announcement in South Africa that the state-owned utility will increase electricity supplies to producers from 90 percent to 95 percent of normal.
Platinum prices have soared recently after a five-day work stoppage due to energy shortages and subsequent statements from the state-owned utility that [...]
General Metals starts expanded 2008 drilling program
by Jo Black
General Metals Corporation announces the start of its expanded 2008 drilling program at the Independence Mine. The results of Stage 1 of Phase 1 drilling completed in 2007 supported previous historical target estimates for the Independence shallow target of 235,000 ounces gold and 2,500,000 ounces silver by equaling or exceeding management’s expectations. Mineralized intercepts in [...]
Tirex announces arrival of 2nd drill in Albania
by Jo Black
Tirex Resources Ltd. announces that a second core drill has arrived in Albania to work on the Mirdita Copper-Zinc-Gold Project. The introduction of the second drill is intended to accelerate the aggressive district-wide exploration program. While the first drill will continue to work on verifying historic drill results on known deposits, this second drill will [...]
Nilam hires David Garcia as expert geologist
by Jo Black
Nilam Resources Inc. has hired David Garcia as a Professional Geologist for the company.
Mr. Garcia has many years of experience in the mining industry in Peru. Mr Garcias’ dossier includes employment with Paramount Gold, Teck Cominco and other major mining companies. Alain Vachon, President of ‘Nilam’ met Garcia while they worked along side one another [...]
Gold prices decline on profit-taking
by Elaine Frei
Precious metals prices were lower on Thursday.
April gold was down $11.60 to $976.90 per troy ounce in New York on profit-taking after hitting a new record high on Wednesday.
Some analysts expressed the opinion that prices have gone too high for some buyers at this point, citing an 81 percent decline in gold imports to India [...]
Copper declines after record high in London
by Elaine Frei
Prices for base metals fell Thursday after early gains.
May copper dropped 8 cents to $3.90 per pound in New York after going as high as $4.02 per pound earlier in the session, while three-month copper dropped $130 to $8,560 per tonne in London after it soared to a new high at $8,820 per tonne earlier.
The [...]
Miranda Gold terminates Romarco agreement
by Jo Black
Miranda Gold Corp. announces the termination of the Red Canyon exploration funding agreement with Romarco Minerals Inc. (Romarco). Since July 2006 Romarco has delivered Miranda 250,000 common shares of Romarco and expended in excess of $500,000 to fund exploration on the project. These expenditures included an eight hole drill program totaling 6,070 ft (1,850 m) [...]
West High Yield releases latest 2007 drill results
by Jo Black
West High Yield Resources Ltd has now received the analysis from its 2007 Diamond Drill Program for drill holes IV07 12 and 13 on the Company’s Ivanhoe Ridge property and drill holes HV07 1 through 6 on its Hidden Valley property, which is contiguous to the Ivanhoe Ridge property.
The Company has now received analysis [...]