Portage Resources: Peru explorer that’s not for the faint-hearted investor

When a 4.5% jump in stock price with 15 million shares changing hands on news of the acquisition of three new concessions is considered a dull trading day then you know you're dealing with a volatile stock. Portage Resources has gone from 2c to 65c a share in the matter of three months but the Peruvian explorer has certainly not been a one-way bet – the stock's 52-week high is $1.24. The company based in Miraflores, Lima (pictured) has been snapping up silver properties in Peru, but after announcing silver reserves worth $2.3 billion at one of them the stock has been unstoppable.

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Frik Els | July 19, 2011 | 5:42 pm

10th anniversary of first major gold and copper discovery at Oyu Tolgoi coincides with peak construction at Mongolia’s largest mining complex

Ivanhoe Mines’ Chief Executive Officer and founder, Robert Friedland, and Senior Vice President of Exploration, Douglas Kirwin, observed July 17th’s 10th anniversary of the company’s first major mineral discovery at Oyu Tolgoi with a tribute to the 14,000 workers who now are building the Oyu Tolgoi mining complex in southern Mongolia. “Oyu Tolgoi already is one of the mining world’s great stories, thanks to the legions of people who have figured in its discoveries and development,” Friedland said.

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International Mining | July 19, 2011 | 12:14 am

WireCo WorldGroup completes Drumet acquisition

WireCo WorldGroup Inc. (WireCo), the world’s leading producer and marketer of wire rope, electromechanical cable and a major producer of wire products announced today that it has completed the acquisition of Drumet Liny i Druty Sp.z o.o. (Drumet), based in Wloclawek, Poland. No terms were disclosed.

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MINING.com Editor | July 18, 2011 | 11:03 pm

Why a large upward price movement in platinum is ahead

For the past week or two, the price of platinum at the NYMEX futures exchange has gone into repeated transient episodes of backwardation. As this author has explained in past articles, backwardation in a precious metal usually means that a shortage exists in the marketplace, and hidden momentum is building for a very strong upward movement.

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Seeking Alpha | July 18, 2011 | 5:23 pm

Carpathian Gold announces $20 million strategic placement by Barrick Gold Corporation

Carpathian Gold announced that it has concluded an agreement with Barrick Gold Corporation for a CDN$20 Million private placement to purchase 38,461,538 common shares (the "Private Placement" and the "Common Shares") of the Corporation at a price of $0.52 per share. The Common Shares will be subject to a four-month hold period. The proceeds from the Private Placement will be exclusively applied to the Corporation's ongoing exploration and development work on its wholly owned Rovina Valley Project ("RVP") situated in west-central Romania.

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Marketwire | July 18, 2011 | 11:01 am