Short supply, high demand for platinum group metals
Labor problems and low prices have platinum mines closing up shop in South Africa, and the potential for acquisitions is ripening.
Labor problems and low prices have platinum mines closing up shop in South Africa, and the potential for acquisitions is ripening.
RockBridge will acquire all of the issued and outstanding shares of Crimson assuming for a total purchase price of $4,362,018 with a deemed price of $0.80 per share.
Candente Copper will be allowed to resume its exploration and feasibility drilling at its Canariaco project in Peru, after the local community of San Juan De Kañaris voted in favour of granting surface access to the company on Sunday.
The company's copper-gold project is being explored in part with Antofagasta Minerals.
The new inferred resource at La Mina contains approximately 1,600,000 oz of gold and 419 million pounds of copper.
Hong Kong's Honbridge Holdings plans to build a 420 kilometre pipeline to move iron-ore from Brazil's Minas Gerais state to the coast in stead of building a railway line for its new $3.6 billion – $4.2 billion mine.
Vancouver-based Eastern Platinum was forced to issue a clarification over contained platinum resources at its South African PGM properties following a review by the British Columbia Securities Commission.
Tested intersections at the company's Congo-based site include 3.55% Cu at 149.2m and 5.68% Cu at 94.3m.
The two companies have signed a binding letter of intent to create a new Peru-focused gold exploration company. Under the terms Andean American shareholders will receive 0.245 shares of Lupaka for each share of Andean American owned.
I recently opined on the long-term bullish fundamentals of the copper market (Mercenary Musing, May 28, 2011).