Aluminium
Platinum gains on smelter closure
by Elaine Frei
Precious metals prices were mixed Monday, with gold and silver down after the US dollar made gains against the euro after being down against the shared currency earlier in the session.
October platinum, however, added $9.60 to $2,072 per troy ounce on the news of a smelter closure in South Africa.
The Lonmin (LSE: LMI; JSE: LOLMI) [...]
SearchGold acquires two new gold permits
by Jo Black
SearchGold Resources Inc., a Canadian-based mining exploration company, involved to explore and develop gold deposits in Africa, has acquired two news exploration permits for gold in Burkina Faso in West Africa.
The new permits, Dou and Taouremba, covering a total of 452 km2 surface area, are located in the Sanmatenga and Seno provinces, approximately 300 km [...]
Gold Hawk announces re-election of Directors
by Jo Black
Gold Hawk Resources Inc., a Canadian based precious and base metals producer with reserves and resources containing gold, silver, lead, zinc and copper, announces that its shareholders have re-elected William Barrett, John Bracale, Gordon Bub, Jean Depatie, Kevin Drover, Richard Godfrey and Michel Tardif as directors of the Corporation for the ensuing year.
The shareholders [...]
Pan African closes acquisition by Asia Thai Mining
by Jo Black
Pan African Mining Corp. announces that at a recently held meeting, its shareholders, warrant holders and option holders have approved the plan of arrangement and related transactions contemplated by the Arrangement Agreement among Asia Thai Mining Co., Ltd. (ATM), 0819615 B.C. Ltd., and African Queen Mines Ltd.
The meeting was attended by 25,203,271 shares, options [...]
Gold, copper up on higher oil prices
by Elaine Frei
Most metals prices were higher Friday and gold hit its highest level in at least a month as investors looked for safe places to put their money to protect it from inflation after crude oil prices rose as high as $142.99 per barrel in New York during the session, a new record and the US [...]
Tombstone Exploration provides drilling results
by Jo Black
Tombstone Exploration Corporation, the largest land holder in the Tombstone Mining District in Arizona, has started drilling at the Tombstone Silver Project.
The company has selected Layne Christensen, with its experienced staff and drilling equipment including 4×4 core rig, to drill the mine.
Encouraged with the initial findings from drill program, the company said that the [...]
Amera options Cercana porphyry copper property
by Jo Black
Amera Resources Corporation, a leading American gold-copper exploration company, has signed an option agreement to acquire a 100% interest in the 1,075 hectare Cercana porphyry copper project in southern Peru.
Cercana porphyry copper project is situated some 21 kilometres southeast of Arequipa city, which is within the Paleocene Southern Peru Porphyry Copper Belt. The area has [...]
Osisko provides drilling results
by Jo Black
Osisko Mining Corp., a Canadian junior gold exploration company, provides initial results from five new holes from its current drilling program on the South Barnat Zone.
All the five holes on the grid which include, BA08-3001, BA08-3002, BA08-3007, BA08-3009, BA08-3014, are inclined 40 to 75 degrees to the northeast or southwest. Assay results from other [...]
Gold adds $33 per ounce on interest rate, oil price speculation
by Elaine Frei
Metals prices rose Thursday as the dollar weakened after Wednesday’s decision by the US Federal Reserve to hold interest rates at 2 percent.
Gold had its biggest one-day percentage gain since late February 2007 as it added $33.20, or around 3.5 percent, to $915.50 per troy ounce on sentiment that the Federal Reserve will not be [...]
Paramount reports resource increase at San Miguel project
by Jo Black
Paramount Gold and Silver Corp., a precious metals mining exploration company presently in the early stages of an extensive exploration program at their San Miguel project in Mexico, has completed an updated National Instrument 43-101 compliant mineral resource estimate for its San Miguel Project.
ACA Howe International Ltd. has prepared the technical report and resource estimate. [...]
Halo Resources provides drilling results
by Jo Black
Halo Resources Ltd., a Canadian-based resource company focused on the acquisition and development of near- production stage gold and base metal deposits, announces that major massive and semi-massive sulphide intersections at the Sherridon-Bob Lake deposit further expand the size of the ore lens.
The thickest sulphide intersection on the Sherridon VMS Property to date, 33 [...]
General Metals provides drilling updates
by Jo Black
General Metals Corporation, a junior minerals exploration and development company, based in Reno, Nevada, announced a 20 foot intercept of .092 ounces per ton gold equivalent (opt Au Equiv.), which was included in a 140 foot intercept in Hole GM-46 which averaged 0.029 opt Au Equiv.
The company said that drill holes GM-40 through GM-46, [...]
Metals prices follow oil lower
by Elaine Frei
Precious metals prices were lower Wednesday, with gold declining as falling oil prices reduced demand for the metal as a safe haven against inflation.
August gold was down $9.20 to $882..40 per troy ounce, while September silver was 15 cents lower to $16.59 and October platinum dropped $22.50 to $2,009.
In base metals, copper also followed oil [...]
Ajax joint venture area drilling continues
by Jo Black
Abacus Mining & Exploration Corp., a Vancouver based mining company publicly traded on the TSX Venture Exchange, announces the release of assay results from 29 more drill holes on the Ajax joint venture area with New Gold Inc.; in which Abacus may earn a 60% interest.
The company said that all 29 holes were [...]
Aura increases the Serrote Da Laje Resource
by Jo Black
Aura Minerals Inc., a Canadian resource company focused on the acquisition, exploration, development and operation of mining properties in the Americas, announces the completion of an updated resource estimate at its wholly owned Serrote da Laje deposit in Alagoas State, Brazil.
This updated resource estimate clearly demonstrates the significant expansion from the National Instrument 43-101 (NI [...]
Wildcat closes $1.4 million private placement
by Jo Black
Wildcat Exploration Ltd., a Winnipeg-based company exploring for gold and base metals in Canada, has completed its private placement of non-flow through units and flow through shares.
A total of 4,927,000 non-flow through Units have been issued in the third and final closing for gross proceeds of $492,700. To accommodate investor interest in the issue, [...]
Gold adds value on weak dollar
by Elaine Frei
Gold prices were up Tuesday but other precious metals saw declines.
August gold added $4.30 to $891.50 per troy ounce on a weaker dollar and less chance that the Federal Reserve will hike US interest rates anytime soon after new reports showed US consumer confidence down and home prices 15 percent lower in April, having extended [...]
Metso strengthens its mining equipment supply chain
by Jo Black
Metso Corporation, a global engineering and technology corporation, has signed an agreement with GE Energy to acquire GE’s Lachine Main Plant, a heavy fabrication and machining facility located near Montreal, province of Quebec, Canada.
The transaction is expected to close in mid-August. The financial terms has not been disclosed, however, it is learnt that the [...]
HudBay, Skye reports proposed business combination
by Jo Black
HudBay Minerals Inc., a leading Canadian base metals mining company with a focus on the discovery and production of zinc and copper metal, has entered into a definitive agreement with Skye Resources Inc. to combine their respective businesses. Skye’s principal asset is the Fenix Nickel Project in Guatemala, which includes 41.4 million tonnes of reserves. [...]
Northland’s restates preliminary economic assessment
by Jo Black
Northland Resources Inc., a well-structured, debt free junior exploration company with a portfolio of high quality iron, gold, and base metal exploration projects in Sweden and Finland, announces the revised results of the NI43-101 compliant Preliminary Economic Assessment (PEA) of its three main magnetite projects: Tapuli and Stora Sahavaara in northern Sweden, and Hannukainen in [...]