Majescor hits high-grade silver in Haiti
Vancouver – Haiti-focused Majescor Resources (MJX-V) has announced several encouraging copper and silver hits over two days from its 71%-owned Somine project, sending its share price upwards.
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Molycorp meets Molymet, secures US$390M in funds
U.S. rare earths producer Molycorp (MCP-N) is giving Chile-based Molibdenos y Metales (Molymet) 12.5 million shares in exchange for US$390 million. That works out to US$31.20 apiece – a 10% premium to Molycorp’s 20-day volume weighted average…
But I came here for a grand opening!
Instead of the pomp of a new mine opening, Latin American Minerals (LAT-V) dashed investors hopes of any ceremony by announcing that it was suspending operations at what was set to become Paraguay’s first modern gold mine.
Updated resource fails to lift Cerro Resources
A new resource estimate for the Mt. Philp haematite iron prospect in Australia shifts more inferred resources into the indicated category but has failed to lift the shares of Cerro Resources (CJO-V, CJO-A).
Kuriskova project very low cost, Tournigan says
Slovakia–a country roughly the size of South Carolina–has four nuclear reactors generating half the nation’s electricity needs with two more reactors planned or under construction, making Tournigan Energy’s (TVC-V) flagship Kuriskova…
Another fatality at Vale’s Sudbury mines
Vale (vale-n) has temporarily halted all of its underground mining activity at its five nickel-copper mines in Sudbury, Ont., following the death of a miner at the Coleman mine on Jan. 29.
Positive prefeasibility for Silvercorp’s Gaocheng property
AMC Mining Consultants has given the thumbs up to Silvercorp Metals’ (SVM-T, SVM-N) silver-lead-zinc project in southern China in a prefeasibility study that outlines a net present value of $73.7 million at an 8% discount rate, an…
[Update]Burkina’s gold hunt on the rise
Burkina Faso has recently seen more gold mining due to its relatively stable government, favourable geology, modern mining code and attractive fiscal regime.
Perseus turns 1M oz. gold project into 7M oz. gold mine in Ghana
Perth-based Perseus Mining (PRU-T, PRU-A) has brought its first West African gold mine to commercial production, pouring 35,801 oz. gold in the fourth calendar quarter of 2011 from the Edikan gold mine in Ghana.
2012 guidance sends Semafo shares down
Montreal-based Semafo’s (SMF-T, OMX-Q) three operating mines in West Africa are expected to produce a total of between 235,000 ounces of gold and 260,000 ounces of gold in 2012, according to company forecasts.
Giustra shell graduate flops on Guinea iron ore assays
They say for every mine successfully put into production, 1,000 other geological prospects are tested and found lacking. Notwithstanding the small probability of achieving just one success over a life-long career in mining, a small group of…
Western Australia to expand Esperance port
The Western Australian government’s decision to expand capacity at the Esperance port will benefit companies like Macarthur Minerals (MMS-T, MMSDF-O) and others active in the emerging iron ore sector in the Yilgarn area.