Teras to initiate 20,000 meter drill program

Teras Resources Inc. ("Teras" or the "Company") (TSX VENTURE:TRA) Teras is pleased to announce that the Company has engaged Harris Exploration to drill approximately 100 holes totalling over 20,000 meters on its Cahuilla project in Imperial County, California. CALGARY, ALBERTA--(Marketwire - Sept. 23, 2011) - Teras Resources Inc. ("Teras" or the "Company") (TSX VENTURE:TRA) Teras is pleased to announce that the Company has engaged Harris Exploration to drill approximately 100 holes totalling ove...

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Marketwire - Mining and Metals | September 23, 2011 | 1:01 pm

Dorato receives final drill results from phase I Cobrecon drilling

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 23, 2011) - Dorato Resources Inc. ("Dorato" or the "Company") (TSX VENTURE:DRI)(OTCQX:DRIFF)(FRANKFURT:DO5) announces receipt, from Minera Afrodita, of final drill results from the first phase of drilling at the northern-most anomaly at Cobrecon. Results indicate the presence of a large and pervasive mineralized porphyry system, drill-tested over an area of 2km x 1km (Figure 1). Grades can be considered sub-economic at 0.1% to 0.2% copper, but the presence of such a large and pervasive mineralized system is encouraging for the two remaining drill targets (Cobrecon Sur and Cobrecon Este), which are defined by larger, more intense surface geochemical anomalies. Drilling on the remainder of the targets is subject to Minera Afrodita's permitting process.

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Marketwire - Mining and Metals | September 23, 2011 | 1:00 pm

Big 3 profits threatened as iron ore to begin first price drop since 1982

Iron ore's 20-year price run is likely to come to an end in the next three years, according to new data from Bloomberg, with a surge in supply set to knock $50 off the price of the crucial steelmaking ingredient by 2015: Global prices may fall 29 percent to an average $123 a metric ton in 2015 from a record $173 this year, according to the median estimates of 10 analysts surveyed by Bloomberg News. The decline contrasts with estimates for little change in copper and a 10 percent increase for aluminum in the same period, London Metal Exchange futures prices show.

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Andrew Topf | September 22, 2011 | 8:43 pm

Franco-Nevada to acquire Lumina Royalty Corp. for $66 million

TORONTO, ONTARIO--(Marketwire - Sept. 22, 2011) - Franco-Nevada Corporation (TSX:FNV)(NYSE:FNV) ("Franco-Nevada") and Lumina Royalty Corp. ("Lumina Royalty") have entered into an arrangement agreement whereby Franco-Nevada will acquire all of the common shares of Lumina Royalty by way of a court approved plan of arrangement for US$60 million in Franco-Nevada common shares and US$6 million in listed Franco-Nevada warrants ((TSX:FNV.WT.A) with a C$75.00 exercise price, expiring June 16, 2017). Under the arrangement, Lumina Royalty shareholders will receive 0.03487 Franco-Nevada common shares and 0.01917 Franco-Nevada warrants for each Lumina Royalty common share held.

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Marketwire - Mining and Metals | September 22, 2011 | 2:30 pm

Colorado significantly expands Hit property in BC

COLORADO RESOURCES LTD. (TSX VENTURE:CXO) ("Colorado" or the "Company") is pleased to announce it has signed a letter agreement with two private individuals to acquire a 100% interest in the 8,546 hectare Aspen Grove South Property, located in southern B.C. To earn its 100% interest, Colorado must issue 100,000 shares, subject to TSX Venture Exchange approval and grant the vendors a 2.5% N.S.R. of which the first 1.5% may be purchased for $1 million and the remaining 1% for $3 million.

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Marketwire - Mining and Metals | September 21, 2011 | 10:57 pm

Sunridge Gold completes 5000 m core drilling program and reaches 50% ownership of Majescor’s Besakoa copper-zinc-gold Project, Madagascar

MONTREAL, QUEBEC--(Marketwire - Sept. 21, 2011) - Majescor Resources Inc. ("Majescor" or the "Company") (TSX VENTURE:MJX) is pleased to report that on September 15, 2011, the Company has received formal notice by Sunridge Gold Corp. ("Sunridge") that Sunridge had fulfilled its obligations pursuant to the Option Agreement dated September 15, 2008 and Amendment Agreement dated June 19, 2009 (the "Agreement"), by incurring $2,000,000 in work expenditures on the Besakoa volcanogenic-massive-sulphide (VMS) project, southern Madagascar, and by issuing 300,000 Sunridge common shares to the Company. Consequently, Sunridge is deemed to have acquired a 50% interest in Daraina Exploration S.a.r.l. ("Daraina"), a registered Malagasy corporation and a 100%-held subsidiary of Majescor, the owner of the Besakoa project.

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Marketwire - Mining and Metals | September 21, 2011 | 12:57 pm

BHP’s China sales jump, but weaker growth a risk

China's position as the world's economic engine is being reinforced as expectations for growth in developed markets wane, but so is the risk a decline in its appetite for metals and minerals may mean the Asian giant won't offset any Western slowdown.

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MarketWatch | September 21, 2011 | 3:23 am

Rio on track to mine 240m tonnes of iron ore; analyst downplays oversupply concerns

An $85 billion expansion of the iron ore industry in Australia will not depress the price of the crucial steelmaking ingredient because the major producers will simply curtail their outputs. Martin Place Securities head of research Greg Burns told AAP the current wave of Australia-wide expansions that could effectively double current capacity of 465Mt to one billion tonnes by December 2016 will not have an upward effect on prices because the major producers will simply pull back on production to tighten up supply. Nor will some of the planned projects get off the ground, he predicts. Sky News reports:

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Andrew Topf | September 20, 2011 | 7:26 pm