Platinum

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 16, 2011) - Solitaire Minerals Corp. (TSX VENTURE:SLT) (Solitaire) is pleased to announce that the company has signed an option to acquire a 100% interest in a Platinum-Group Element (PGE) property north of Thunder Bay, Ontario. Previous exploration has located 14 mineral occurrences on the property with analytical results up to 2.2 grams per tonne of total precious metals ("TPM") or platinum + palladium + gold. A diamond drilling program is planned to test five conductors defined by a 2010 airborne VTEM® survey.

Caledonia Mining, an African focused mining and exploration company with a mine in Zimbabwe, shot up 20% to 11 cents a share after announcing a six-fold increase in profits in Q3. The company said that gross profit was $9.36 million compared to $1.607 million in the comparative quarter. "This is almost a six-fold increase on the comparative quarter and is the seventh consecutive quarterly increase in gross profit," said the company in a statement.

Dale Alan Madson, 42, a Leadman Operator at Stillwater Mining died in a mining accident on Monday at the company's Stillwater Mine. Madson was working on the 3800 level of the mine The accident is being investigated by the Federal Mine Safety and Health Administration. No other details of the accident were released. Mining operations were suspended following the incident and will resume with the evening shift today.

A new minimally-invasive procedure that can safely and effectively treat brain aneurysms without open surgery by implanting an FDA-approved device consisting of a flexible braided mesh tube made of platinum and nickel-cobalt chromium alloy directly into the artery has been chosen by research facility Cleveland Clinic as one of the top 10 medical innovations for 2012. The 90-year old multispecialty academic medical center which has pioneered among others coronary artery bypass surgery and performed the US's first face transplant also included a new Concussion Management System for Athletes, Genetically Modified Mosquitoes to Reduce Disease Threat and Wearable Robotic Devices in the top 10.

Gossan Resources Limited (TSX VENTURE:GSS)(FRANKFURT/FREIVERKEHR & XETRA:WKN 904435) has signed a Letter of Intent (LOI) with East Mining Company SA ("EMC") of Athens, Greece, to investigate and examine the possibilities of acquiring mineral projects within Europe, on a non-exclusive basis, and initially to assess three potential projects in Greece. Additional projects may be pursued.

It is vital for the South African government to step up and take a bigger stake in the mining industry, a top economic advisor told those attending a Mining for Change conference in Johannesburg on Friday. The comments come one week ahead of so-called Economic Freedom Youth Mass Action marches on the Chamber of Mines and stock exchange organized by Julius Malema (pictured), populist leader of the influential youth wing of the ruling African National Congress with the support of the 260,000 member Metalworkers Union. Malema recently told crowds that the nationalization debate within the ANC is a question of how not if, and an August industry-led investigation said the ruling party is closest to seizing mines since the end of white rule in 1994.

Gold for December delivery had shed $40 or more than 2% by lunchtime coming close to breaching the $1,600/oz level in New York before before regaining some ground to trade at $1,618 an ounce by early afternoon. Traders said the metal is likely to remain a “dead trade” until it can resume its role as a fear barometer and is able to rally in face of equities weakness and that a "solid downtrend" has now been established. Some analysts are saying gold's precipitous $300 drop in September represented a fundamental market shift and that gold's fall despite market volatility and economic uncertainty means the metal has lost its safe haven status and is being treated like any other commodity.

HAMILTON, Bermuda, Oct. 18, 2011 /PRNewswire via COMTEX/ -- Platinum Underwriters Holdings, Ltd. PTP +2.18% today reported a net loss of $53.5 million and a loss per common share of $1.43 for the quarter ended September 30, 2011. The results for the quarter include net premiums earned of $166.8 million, net favorable development of $27.8 million, net investment income of $29.8 million and net realized gains on investments of $7.5 million. The results also reflect the net negative impact of $112.4 million from major catastrophe losses, net of retrocessional coverage, reinstatement premiums and taxes.

Commodity Online reports platinum group metals miners may be hit by the rapid growth in the number of electric cars on the road that do not need catalytic converters. In addition, manufacturers like Nissan have slashed the use of platinum in gasoline-powered vehicles in efforts to keep costs down. The drop in industrial demand has not nearly been offset by the surge in jewellery sales and platinum has lost almost a fifth of its value since the start of September while palladium is down 23%. FT quotes Barclays Capital research that notes at current levels of about $1,530 an ounce, platinum is trading close to or below the price at which some miners break even and that high-cost producers are already losing money.