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Alacer Gold CFO to Depart

Alacer Gold announced that as part of its finance department relocation, its Chief Financial Officer, Douglas Tobler, will depart by December 31, 2011. Mr. Tobler will continue in his present capacity for the balance of 2011 or until transition is completed to a new CFO. Alacer has commenced a search for a replacement.
Marketwire | August 12, 2011 | 11:46 am

Minera Andes announces second quarter 2011 financial results

Minera Andes announced net income of $10.7 million ($0.04 per share basic and diluted) for the quarter ended June 30, 2011, an increase of $6.4 million compared to net income of $4.3 million ($0.02 per share basic and diluted), for the same period in 2010.
Marketwire | August 11, 2011 | 6:22 pm

Timmins Gold reports first quarter production results

Timmins Gold Corp. (TSX:TMM) is pleased to report preliminary production results for the first quarter ended June 30, 2011. The Company sold 17,965 gold ounces during the quarter. This represents a 59% increase in gold sales over the first quarter of fiscal 2011. The Company produced 16,676 gold ounces and 9,089 silver ounces during the quarter.
Marketwire | August 11, 2011 | 6:19 pm

Selwyn mobilizes drills to ScoZinc Mine

Selwyn Resources Ltd. (TSX VENTURE:SWN) ("Selwyn") is pleased to inform investors that it has commenced exploration activities at the ScoZinc mine (formerly the Scotia mine) to provide infill definition drilling and to conduct near-mine exploration in support of the mine restart activities. Restart activities were initiated shortly after closing of the acquisition of ScoZinc Limited (see June 1, 2011 news release). ScoZinc Limited has entered into a drilling contract with Logan Drilling Group of Stewiacke, Nova Scotia. Two drill rigs are being mobilized to the ScoZinc mine for the commencement of diamond drilling.
Marketwire | August 11, 2011 | 6:17 pm

B2Gold reports on second quarter 2011 results

B2Gold reported results from its operations for the second quarter ended June 30, 2011. Highlights were adjusted net earnings of $22.0 million ($0.07 per share); record cash flow from operations of $28.8 million ($0.09 per share); and an increase of cash and cash equivalents to $78.9 million at quarter end.
Marketwire | August 11, 2011 | 6:08 pm

Nautilus granted exploration tenements in Fijian waters

Nautilus Minerals announced on Thursday that they were granted offshore exploration licences in Fiji. The Fijian Government has granted the company 14 special prospecting licences, covering a total of approximately 60,000 km2. The territory is considered highly prospective, having been the subject of marine research by Japanese, French and other scientific cruises in the late 1980s and early 1990s. The licences each have an initial term of two years.
Marketwire | August 11, 2011 | 6:02 pm

New Earth Potash closes $5.4 million private placement

New Earth Potash announced the closing of a non-brokered private placement successfully completed largely due to the efforts of PowerOne Capital Markets Limited. The private placement consisted of 21,575,000 units at a price of 25 cents per unit for aggregate gross proceeds of $5,393,750. Each unit consists of one common share of the company and one-half of one common share purchase warrant.
Marketwire | August 11, 2011 | 5:43 pm
Miner with pick mining

North American Palladium Announces Second Quarter 2011 Results

North American Palladium announced financial results and operational updates for the second quarter ended June 30, 2011. Highlights were production of 46,971 ounces of payable palladium at a cash cost1 of US$335 per ounce; realized palladium price of US$751 per ounce, giving an operating margin of US$416 per ounce, and total operating margin of US$20 million for the palladium produced; revenue of $51.4 million; and adjusted EBITDA of $15.4 million.
Marketwire | August 11, 2011 | 2:05 pm

Oceanic Iron Ore Corp.: assay results return 32.6 pct Fe total over 92.9m; results trend with historical data

Oceanic Iron Ore Corp. announced the latest set of results is based on twinned drill holes in the Castle Mountain, Zone 4, and Bay Zone "F" grids of the Hopes Advance Area. Further results from these grids as well as Zone 2, Iron Valley and additional Bay Zone grids are expected to be reported in the coming weeks, as will results from targeted "step-out" drill holes which have been completed.
Marketwire | August 11, 2011 | 12:42 pm

IAMGOLD reports 223% increase in second quarter net earnings from continuing operations

IAMGOLD's net earnings attributable to equity shareholders were $478.9 million ($1.28 per share) in the quarter, including the gain of $402.6 million from the sale of the Tarkwa and Damang mines. "In January, we said our plan was to divest our minority interest in the Tarkwa and Damang mines for proceeds in excess of $600 million and by the end of June we had closed the sale for gross proceeds of $667 million. During that period, we also confirmed a near 700% increase in mineral resources at our niobium mine and increased our dividend by 150," said Steve Letwin, IAMGOLD's President and CEO.
Marketwire | August 10, 2011 | 10:17 pm

Victory Nickel adds two years to Manitoba mine life

Victory Nickel Inc. announced Wednesday improved economics for its 100%-owned Minago nickel project in Manitoba. The improvement arises from a 24% increase in pit constrained measured and indicated resource announced earlier this year. The increased resource has extended the mine life from the Nose Deposit open pit from approximately seven years to approximately nine years.
Marketwire | August 10, 2011 | 9:54 pm
law court mining

Lucara litigation update: Judge dismisses claims against African Diamonds

As has previously been reported by Lucara Diamond, in April 2010, legal proceedings were initiated against African Diamonds Plc, Lucara's wholly-owned subsidiary, by two former directors of African Diamonds claiming entitlement to a 3% royalty on production from the AK6 diamond project. The claim was heard in the Botswana High Court in early June, 2011. The High Court delivered its ruling today, dismissing the claims against African Diamonds, with costs awarded against the plaintiffs. The plaintiffs have 30 days to seek to appeal the ruling.
Marketwire | August 10, 2011 | 9:18 pm