Aluminium
Australian gold production falls 7%
by Gill Montia
Gold production in Australia has fallen 7% over the past 12 months.
Output for the financial year to the end of June is estimated at 231 tonnes, down 12 tonnes on an earlier government forecast and 18 tonnes below 2006/07 output, which equated to around 10% of world production of the metal.
The forecast for 2008/09 has [...]
Tin bucks falling metals prices trend
by Elaine Frei
Most metals prices were lower on Monday as the US dollar strengthened, although some were up in early trade.
September copper was 2 cents lower to $3.81 per pound in New York while three-month copper was down $35 to $8,400 per tonne in London despite rising to as much as $8,490 earlier in the day.
Aluminium jumped [...]
Manson Creek provides exploration update
by Jo Black
Manson Creek Resources Ltd., a mineral exploration company with a focus on acquiring and advancing early stage Gold, Silver, Base Metals and Uranium projects located in western Canada, provides an update for the exploration programs underway on two of its properties located in British Columbia and the Yukon.
Diamond drilling is ongoing on the Meridian project [...]
2008 Committee Bay exploration program initiated
by Jo Black
Committee Bay Resources Ltd., a Canadian based exploration company with a 100% interest in the highly mineralized Committee Bay Greenstone Belt Project in Nunavut, announced that drills and crews have been mobilised for the 2008 summer program at the Committee Bay Greenstone Belt.
This year’s program will concentrate on exploration and economic evaluation of the [...]
Western Uranium receives final order approving plan of arrangement
by Jo Black
Western Uranium Corporation, a Canadian based resource company focused on exploration, acquisition and advancement of uranium properties primarily in North America, has received the final order from the Supreme Court of British Columbia approving the previously announced statutory plan of arrangement.
Under the Arrangement, the Company will spin out a portion of its interest [...]
Copper up on dollar, drop in LME stockpiles
by Elaine Frei
The price of copper was up Friday as the dollar weakened and investors looked for safe places to put their money as higher oil prices one again raised the possibility of more inflation.
September copper added 5 cents to $3.83 per pound in New York, while three-month copper on the London Metal Exchange ended $105 higher [...]
Drilling on Globex’s Nordeau gold property
by Jo Black
Globex Mining Enterprises Inc., a Toronto Stock Exchange listed exploration company with a very large North American portfolio of advanced properties with gold, copper, zinc, silver, uranium, platinum, palladium, magnesium and talc potential, informs shareholders that Plato Gold Corp. will begin a 5,000 meter drill program on Globex’s Nordeau gold property, from June 25, 2008.
According [...]
Yamana Gold provides exploration updates
by Jo Black
Yamana Gold Inc., a Canadian-based gold producer with significant gold production including other precious metals and copper, gold development stage properties, exploration properties, and land positions in Brazil, Argentina, Chile, Mexico, Central America and the United States, provides an exploration update for Gualcamayo, El Penon, Pilar de Goias and Mercedes.
The company said that drilling at [...]
Plato Gold announces private placement
by Jo Black
Plato Gold Corp., a Canadian junior gold exploration company listed on the TSX Venture Exchange, announce a proposed private placement to offer up to 6,000,000 flow-through units at a price of $0.10 per Flow-Through Unit for gross proceeds of up to $600,000 and 3,500,000 common share units at a price of $0.09 per Unit for [...]
Gold prices gain as platinum declines
by Elaine Frei
Most precious metals prices rose Thursday while most base metals prices fell on the session.
August gold was up $10.50 to $904 per troy ounce in New York, while July silver added 13 cents to $17.47 per troy ounce but July platinum dropped $36.10 to $2,055.80 per troy ounce.
September copper was up 3 cents to $3.78 [...]
Gryphon enters lease agreement with Pruett-Ballarat
by Jo Black
Gryphon Gold Corporation, a Nevada focused gold exploration company, says that its totally owned subsidiary, Nevada Eagle Resources, LLC (NER), has entered into a Lease Agreement with Pruett-Ballarat Inc., whereby Pruett-Ballarat will lease the Argus property located in Inyo County, California.
The proposed agreement will provide a sliding scale net smelter return royalty to [...]
Rambler provides positive results at the Ming Mine
by Jo Black
Canada’s Rambler Metals and Mining plc continues success with its underground exploration program drilling at the Lower Footwall Zone at the Ming Mine.
The company, which had commenced drilling program at the Lower Footwall Zone in November 2007, has announced further positive drill results.
Realising good progress on the underground drilling program, the company has required [...]
Nevada Copper expands East and North deposits
by Jo Black
Nevada Copper Corp., an emerging copper company responsibly developing its advanced stage Pumpkin Hollow copper-iron property into Nevada’s next copper mine, declares additional high grade copper results at the property located in Nevada.
The company said that the drilling is showing continuity of mineralization and further expand the significant copper resources and grades of both [...]
Gold gains on rate speculation
by Elaine Frei
Most metals prices were higher Wednesday.
Gold and silver both saw gains on speculation that interest rates will not rise soon in the US due to signs, including continuing job losses and rising foreclosures, that the US economy is still slowing.
At the same time, rising inflation left investors looking for safe places to put their money.
August [...]
Niblack underground program update
by Jo Black
Niblack Mining Corp., a mineral exploration company engaged in advanced stage exploration of the gold, silver, copper, and zinc, located on Prince of Wales Island in southeast Alaska,
provides an update for the ongoing underground exploration program at the Niblack project in southeast Alaska.
Underground drilling to date has encountered copper bearing massive sulphides within a broad [...]
Sherwood reports results for Kutcho Copper project
by Jo Black
Sherwood Copper Corporation, a public company whose primary focus is the profitable production and development of high grade, open pit base and precious metals mines in Canada, announced results of an independent preliminary economic assessment (PEA) for its high grade Kutcho copper project in NW British Columbia.
This study significantly simplifies the development approach to [...]
Canstar plans red lake drilling program
by Jo Black
The Directors of Canstar Resources Inc. have been advised that the adjudication hearing for the Mary March property has been set for September 15th, 2008 and is expected to take ten days to complete.
The hearing will be held by the Mineral Rights Adjudication Board, a three-person panel set up under the auspices of the Ministry [...]
Mining companies may have seen best of profit
by Gill Montia
PricewaterhouseCoopers (PWC) has published its annual review of the mining industry in which it suggests there are signs that net profit in the sector may have peaked.
The authors of the report, which is entitled “As good as it gets?”, highlight the impact of escalating costs on revenue and point out that while the world’s top [...]
Metals prices mixed on weaker dollar, lower oil prices
by Elaine Frei
Metals prices were mixed Tuesday.
Gold was up slightly on a weaker dollar after declining earlier as oil prices declined.
August gold had added 30 cents to $886.60 per troy ounce just before the close of floor trade in New York, while at the same time July platinum was up $13.60 to $2,064.30 per troy ounce but [...]
Allied Gold reports strong strike at Papua New Guinea project
by Gill Montia
Allied Gold, the Australian and London listed miner, has reported a strong gold strike at Pigiput East, which forms part of its 100% owned Simberi gold project in eastern Papua New Guinea.
Recent drilling at the site has intersected a 16m zone grading 15.12 g/t gold from 15m in a zone located approximately 250m north east [...]