Rio Tinto, Mongolia sign power deal for Oyu Tolgoi copper mine

First Quantum Minerals posted a US$455 million profit in the third quarter, the Vancouver-based company reported on Tuesday. That compares with $227 million in earnings in the three months ended December 31, 2009. Sales of copper in Q3 were down from the same period last year, from 98,171 tonnes in Q3 2009 to 76,290 in the third quarter of 2010. However, the company ended the year with $1.385 billion in its treasury compared to $959 million in the previous year's Q3.

Capstone Mining made a dramatic move into the black last year, earning a US$72.6 million profit compared to a loss of $18.3 million in 2009. Revenues grew from $250 million in 2009 to $310 million last year. The Vancouver-based company had US$192.4 million in the bank at the end of the year, up from $118.4 million the year previously.

Northern Tiger Resources Inc. (TSX-V:NTR) has closed a brokered private placement of 8.622 million flow-through common share at a price of $0.55 per share for proceeds of $4.742 million. The private placement was initially announced on February 14, 2011 and contemplated raising gross proceeds up to $3 million.

Eurasian Minerals Inc. (TSX-V: EMX) announced the completion of the second tranche of its CAD $17.875 million private placement by the sale of 921,000 units for proceeds of CAD $2,993,250. Each unit, priced at CAD $3.25, consisted of one common share and one-half of one common share purchase warrant. Each full warrant entitles the warrant holder to purchase one additional common share of EMX until March 14, 2013 at a purchase price of CAD $4.00.

Formation Metals Inc. (TSX:FCO) (the “Company”) is pleased to announce it has completed the equity financing (the “Financing”) announced on January 27, […]

Lions Gate Metals Inc. (TSX VENTURE:LGM) (“LGM” or the “Company”) is pleased to announce that, further to its press release of March […]

The Brisbane-based explorer has reported positive infill drilling results on its Zeta underground project on its 100% owned Boseto project in Botswana.

Inmet Mining is holding firm on the proposed friendly merger with Lundin Mining, saying there are significant risks associated with the hostile Equinox offer for Lundin announced last week. Inmet continues to believe the proposed merger of equals between Inmet and Lundin to create Symterra provides superior benefits to shareholders of both Inmet and Lundin without the risks associated with the Equinox offer, Inmet stated on Thursday.

The spectacular Carapateena discovery that Canadian Teck Resources had seen as its big foreign play until the global financial crisis, is now passing into the hands of OZ Minerals Ltd (ASX: OZL). OZ Minerals said this week it had paid $US240 million for the project, making an immediate deposit of $US10 M.