Aluminium
Shoreham gold production at Marudi Mountain
by Jo Black
Shoreham Resources Ltd., a Canadian based exploration company dedicated to the exploration and advancement of precious metal and polymetallic deposits in South America and Canada, announces developments regarding its Marudi Mountain Gold Project in Guyana. Shoreham has the right to earn a 75% working interest in the Property by exercising an option to acquire 75% [...]
African Gold Group updates Trenching returns
by Jo Black
African Gold Group, Inc., reports the assay results for five trenches, located within the immediate proximity of the excavated artisanal mining pit at AGG’s Manso Atwere (Ghana) concession.
The five trenches total 1,628 meters in aggregate length and average 3 meters in depth. All trenches were sampled on two meter spacing. Diamond drilling is currently underway [...]
Adex Mining contract to SGS Lakefield Research Europe
by Jo Black
Adex Mining Inc. announces the award to SGS Lakefield Research Europe Ltd. of Cornwall, United Kingdom of a contract for the development of a gravity - flotation separation process for the processing of tungsten, molybdenum, tin and indium at its Mount Pleasant Mine Property located in southwestern New Brunswick.
The contract is for the initial bench [...]
Copper near records; precious metals also higher
by Elaine Frei
Copper prices approached a record high on Wednesday on demand hopes after the Chinese government reported that the gross domestic product there grew by 10.6 percent in the first quarter of the year.
July copper added 9 cents to $3.95 per pound in New York after going as high as $4.011 per pound, just below the [...]
Rio’s Alcan agrees joint aluminium venture with Saudi Arabia
by Gill Montia
Rio Tinto is reported to be close to agreeing the terms of a joint venture with Saudi Arabian Mining Co (SAM), for the development of world-class aluminium smelting facility in Saudi Arabia.
The group’s Alcan subsidiary expects to sign an agreement for the $7.5 billion project in August.
The 670,000-tonne-per-year smelter will be financed partly by state-owned [...]
Aurora Metals lawsuit settlement agreement with Trend Mining Company
by Jo Black
Aurora Metals (BVI) Limited has entered a settlement agreement (the “Settlement Agreement”) with Trend Mining Company (Trend) regarding the lawsuit filed in the Montana 22nd Division District Court and the Joint Venture Agreement between the Company and Trend on the Company’s Montana properties. The Company filed the lawsuit to obtain a judicial confirmation that the [...]
Troy Resources drilling at Indomitable prospect
by Jo Black
Troy Resources NL advises that forty-eight Reverse Circulation drill holes (5,394m) and one Diamond Core hole from an RC precollar have been completed at the Indomitable Prospect located 12km ENE of the Sandstone Mill. The program was focussed on the Indomitable North and South.
At Indomitable South assays have identified broad zones of low grade gold [...]
Lake Shore revises agreement with Hochschild Mining
by Jo Black
Lake Shore Gold Corp. has reached a revised agreement with Hochschild Mining Holdings Ltd. (Hochschild), a wholly owned subsidiary of Hochschild Mining plc, to raise $79.0 million through a private placement transaction. The transaction will allow Hochschild to increase its interest in the Company to 35.0% of issued and outstanding common shares from its current [...]
Precious metals follow crude oil higher
by Elaine Frei
Precious metals prices were higher Tuesday after crude oil prices jumped to a new record high in New York at nearly $114 per barrel and after US producer prices were reported up by more than expected in March, led by gains in food and energy prices.
June gold added $4 to $932.70 per troy ounce in [...]
Rambler’s gold exploration continues to develop
by Jo Black
Rambler Metals and Mining plc announces drill intersections from its underground diamond drilling exploration program.
- RMUG08-44 returns 20.70 metres of 1.29 g/T Au with 2.22% Cu Including 5.50 metres of 2.00 g/T Au with 7.96% Cu Including 3.60 metres of 4.30 g/T Au with 0.55% Cu
- RMUG08-27 returns 2.10 metres of 2.73 g/T Au with [...]
Anooraq reports results of Lebowa technical review
by Jo Black
Anooraq Resources Corporation announces the completion and results of the technical review of Lebowa Platinum Mines (Lebowa) which was undertaken as part of the due diligence associated with a transaction with Anglo Platinum Limited (Anglo Platinum).
Pursuant to the preliminary transaction agreements announced in September 2007, Anglo Platinum will sell to Anooraq an effective 51% of [...]
NovaGold financial results and projects update
by Jo Black
NovaGold Resources Inc. announced its financial and operating results for the three months ended February 29, 2008, along with an update on the Company’s project development activities.
Highlights
- Net earnings of $28 million ($0.27 per share)
- Completed public offering of senior convertible notes for net proceeds of US$90.7 million
- Rock Creek mill commissioning underway, with [...]
Precious metals prices mixed on session
by Elaine Frei
Precious metals prices were mixed Monday as gold and silver saw gains but platinum and palladium declined.
June gold added $1.60 to $928.60 per troy ounce in New York while May silver was up 10 cents to $17.79 per troy ounce.
Both were higher after the US dollar again declined in relation to the euro.
On the other [...]
Soltera’s structural survey results from El Torno
by Jo Black
Soltera Mining Corp. announces the results of geochemical and structural surveys on the El Torno gold property in Argentina. The property, consisting of mining rights covering 7,863 hectares, contains a 14 km long north-south quartz vein system that cuts metamorphosed sedimentary rocks. A central part of the vein shows old workings, and drilling by Puma [...]
Mineral Deposits signs US$35 million bank debt facility
by Jo Black
Mineral Deposits Limited has executed documentation and commenced drawdown of the first component of a debt financing package for the further construction and development of the Sabodala Gold Project (Sabodala) located in the Republic of Senegal, west Africa. The US$35 million Revolving Working Capital Facility has been provided by RMB Australia Holdings Limited and Macquarie [...]
Patricia’s $500,000 convertible debenture
by Jo Black
Patricia Mining Corp. announces the issuance of a $500,000 convertible debenture. The convertible debenture bears interest at a rate of 9% per annum and is due March 31, 2009. At the option of the holder, and after six months the debenture becomes convertible into common shares at a rate of $0.52 per share which is [...]
Precious metals prices decline
by Elaine Frei
Precious metals prices were lower while base metals were mostly higher on Friday.
June gold was down $4.80 to $927 per troy ounce in New York, while May silver fell 35 cents to $17.69 and July platinum dropped 16.90 to $2,028.10.
Platinum fell on fears that continuing high prices could spur manufacturers who use the metal to [...]
Clancy positive on Cowal East gold prospect
by Gill Montia
Clancy Exploration, the Australian mineral exploration company, has published an update on recent air core drilling explorations at Cowal East and Goobang, two of its Lachlan Fold Belt projects.
The latest programmes at these projects were designed to follow-up previously identified anomalies.
According to Clancy’s managing director, Mark Stewart, earlier drilling at both sites had shown [...]
Western Metals acquires Parys project from Anglesey Mining
by Gill Montia
Western Metals, the Australian listed miner, is acquiring the Parys Mountain copper-zinc project from Anglesey Mining, for an initial consideration of A$7.6 million in cash and shares.
A balance of A$21.5 million will be paid on completion of a successful bankable feasibility study or after three years, whichever is the earlier.
During the initial 15 month period [...]
West Timmins updates La Dura discovery
by Jo Black
West Timmins Mining Inc. announced that drill testing in the La Dura West area of its 100% owned Montana de Oro Project in Sonora, Mexico has intersected additional zones of copper-gold-silver mineralization. These feature an intercept of 12.30 metres grading 0.94% copper, 2.07 g/t gold and 65.12 g/t silver, which includes 1.55 metres grading 0.13% [...]