Magma Metals Limited (TSX:MMW)(ASX:MMW) ("Magma" or the "Company") is pleased to advise that it intends to spin-out its West Australian gold projects in a new gold focused exploration company, to be named Greenstone Metals Limited ("Greenstone"), subject to completion of commercial and legal agreements and relevant approvals.
TSX Venture-listed GobiMin's financial and operating results for the third quarter of 2011 showed the diversified explorer made a handsome profit on the sale of a stake in a Chinese coal project. GobiMin disposed of a 24.49% indirect equity interest in Balikun Coal Project for a total consideration of $30.35 million, recording a gain of $8.21 million. The unaudited interim financial statements also showed the company ended the quarter with $63 million in cash. GobiMin also announced its Sawayaerdun Gold Project has completed drilling works of about 30,100 meters with 84 drill holes and continues for further drilling aiming to maximize the project potential and that it has extended the deadline for obtaining the mining license of Yanxi Copper Deposit to January 31, 2012.
Gareth Hatch, co-founder of Technology Metals Research LLC, gives us the lay of the land in the rare earth sector. Many variables […]
Mindoro Resources Ltd (TSX VENTURE:MIO) (ASX:MDO.AX - News) (FRANKFURT:WKN 906167) today announced it is undertaking a capital raising through the sale of up to 33,400,000 Common Shares and CDIs on a private placement basis to qualified investors at a price of C$0.12 per share in Canada and A$0.115 per CDI in Australia for gross proceeds of up to the equivalent of C$4 million ("Private Placement").
The latest issue of International Mining Project News, out today, has reports on 23 Prefeasibility Studies, 17 Feasibility studies, 38 projects in development, four new mines that have gone into production, five existing mines that are expanding, eight merger and acquisition announcements and many new appointments to new positions.
Prophecy Platinum Corp. ("Prophecy Platinum" or the "Company") (TSX VENTURE:NKL)(OTCQX:PNIKF)(FRANKFURT:P94P) is pleased to announce the closing of the non-brokered private placement previously announced on November 1, 2011 and increased on November 3, 2011. The Company has issued 3,709,489 common shares for total gross proceeds of $10,015,620.30.
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.
SASKATOON, SASKATCHEWAN--(Marketwire - Nov. 16, 2011) - Great Western Minerals Group Ltd. ("GWMG" or the "Company") (TSX VENTURE:GWG) (OTCQX:GWMGF) is pleased to announce the appointment of Kwaw Kabaah as Mine Manager at the Company's Steenkampskraal mine operation in South Africa. Mr. Kabaah, who reports to David Kennedy, Chief Executive Officer of Rareco, GWMG's wholly-owned subsidiary, is responsible for the management, control and day-to-day operations at the Steenkampskraal mine.
Triple Point Technology, the leading global provider of software to manage commodities and enterprise risk, announced today that it has acquired QMASTOR Limited, the premier provider of mining software solutions to manage the tonnage, quality, and value of coal and mineral supply chains from "pit" to the point of export, import, or consumption.
Nautilus, the first company to explore the ocean floor for polymetallic seafloor massive sulphide deposits, announced on Friday it has completed the quarter with a cash balance of $155.1 million, after successfully raising $70.5 million in the first tranche of a $98.1 million capital raising. The final tranche of C$27.6 million was received in October. The capital raising involved the issue of approximately 39 million shares at C$2.52 per share. Nautilus is developing its first project at Solwara 1, in the territorial waters of Papua New Guinea, where it is aiming to produce gold, copper and silver. The company has been granted all necessary environmental and mining permits. Nautilus also holds approximately 600,000 square kilometers of highly prospective exploration acreage in the western Pacific, in PNG, the Solomon Islands, Fiji, Vanuatu and Tonga, as well as in international waters in the eastern Pacific.