Britain's Serious Fraud Office on Wednesday said it had made five arrests as part of an investigation into allegations of fraud related to the sale of four mines in South Wales.
In an appearance on Canada's Business News Network this afternoon, the CEO of Gammon Gold Inc. stated: "We will announce tomorrow when the Capital Gold special meeting will be, but it will be this month." It seems that the CEO of Gammon intends to postpone the special meeting of the shareholders of Capital Gold Corporation.
Timmins has repeatedly raised concerns regarding the process by which the Capital Gold Board of Directors selected Gammon's proposal, a process that Timmins believes favored Gammon over all other bidders.
Canada's Aurizon Mines reported a 37 percent drop in quarterly profit, hurt mainly by higher exploration expenses.
The mid-tier gold miner reported net income of C$6.2 million($6.3 million), or 4 Canadian cents a share, compared with net income of C$9.9 million, or 6 Canadian cents a share, last year.
Shares in Great Panther Silver rose after it said it expects to produce 1.94 million ounces of silver in 2011, up from the 1.5 million ounces it produced in 2010.
Selwyn Resources has mobilized the mining equipment and supplies integral to the Selwyn Project Joint Venture's proposed underground advanced exploration program.
Great Panther Silver increased its profits by one third over last year, the TSX and NYSE-listed company reported on Wednesday. Revenues were $42.2 million in 2010, a 33% increase over the previous year. Fourth-quarter profits were $13.8 million, up 40% from the same period in 2009.
CB Online says Quantum Rare Earth Developments has reported discovering a large niobium deposit in southeast Nebraska. The underground carbonatite formation has potential to become one of the world's largest sources of niobium, used in high-production steel and superalloys. Watch the interview with CEO Peter Dickie on BNN.
