Reuters writes that Executive Chairman Randall Oliphant said New Gold Inc (NGD.TO) is benefiting from near record high copper and silver prices, which […]
Equinox Minerals would consider selling some of Lundin Mining's assets in order to clear off debt, the company's CEO said in a conference call to analysts on Thursday. Equinox has bid CAD$4.8 billion in a challenge to Inmet Mining's friendly merger with Lundin, but needs a $3.2 billion bridge loan, according to the story by Bloomberg.
“We would consider asset sales in the context of non-core, non-copper assets,” Craig Williams, chief executive of the Perth-based company, said today. Equinox may sell Lundin’s Zinkgruvan zinc mine in Sweden, he said.
HudBay Minerals posted some big gains in its fourth-quarter and year-end financials, the Toronto-based miner reported on Wednesday.
Net earnings in Q4 2010 more than tripled to $24.5 million, compared to $7.2 million in the fourth quarter of 2009.
Year-end numbers were also impressive, with net earnings of $73 million — a 475% increase over 2009 after adjusting for gains on the sale of investments, the company stated.
Laconia Resources, a Perth-based exploration company, purchased Jabiru Metals Limited (ASX: JML) equity in the Lennons Find Base Metal project in the Pilbara region of Western Australia. Laconia made the announcement on Wednesday in a statement.
Laconia also agreed to purchase Shaw River Resources (ASX: SRR) 100% interest in the nearby Yandicoogina project, located less than 10km along strike from the Lennons Find project.
Franconia shareholders have approved an agreement whereby Duluth will acquire all of the outstanding common shares of Franconia, and Franconia will become a wholly-owned subsidiary of Duluth.
Franconia's assets are expected to be rolled into Twin Metals Minnesota LLC, a Duluth (60%) and Antofagasta plc (40%) joint venture.
Antofagasta will pay a special dividend of 100 cents a share, the Chilean miner said on Tuesday as it posted a jump in full-year earnings on higher copper prices and production.
Earnings per share rose to 106.7 cents, from 67.7 cents, as revenue grew 54.5 percent to $4.58 billion.
Great Panther Silver Limited has updated its mineral resources at the company's 100%-owned Topia silver-gold-lead-Zinc mine in Durango, Mexico.
The 2011 mineral resource estimate, by Vancouver-based Roscoe Postle Associates (RPA), comprises measured & indicated ("M & I") mineral resources of 171,000 tonnes at 864g/t silver, 1.56g/t gold, 7.53% lead and 4.37% zinc (7.44 million silver equivalent ounces), a 36.3% increase over the 2009 resource estimate.
Papuan Precious Metals (TSX VENTURE:PAU)(OTCQX:PAUFF) announced that it has received geochemical results from 25 rock samples collected at its 100% owned Ioleu […]
