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Mega Uranium Ltd. releases unaudited results for the three and nine months ended June 30, 2011

Mega Uranium today announces its unaudited results for the three and nine months ended June 30, 2011. As at June 30, 2011, Mega had cash, cash equivalents and marketable securities totaling $31.1 million, as compared to $49.9 million at the end of September 30, 2010, a decrease of 38%. The decrease is primarily attributable to the Lake Maitland feasibility costs and other exploration expenditures incurred during the current period. As at June 30, 2011, the Company had mineral properties and related expenditures of $265.9 million, as compared to $251.7 million as at September 30, 2010. The increase reflects expenditures on our mineral properties of $18.9 million, offset by write offs of mineral properties of $4.6 million.

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Marketwire | August 15, 2011 | 9:47 am

Brigadier Gold’s 2011 exploration program identifies the presence of a large-scale gold-silver-tin-tellurium mineralized epithermal system on the Incamayo project

The Company is pleased to announce that significant silver-gold mineralized intersections were evident in eight of nine drill holes on its recently completed exploration program on the Incamayo project in northwest Argentina. Silver-gold zones in the drill holes are often associated with base metals (zinc, copper, lead) and pathfinder elements (antimony, arsenic, bismuth, tellurium, thallium and mercury).

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Marketwire | August 12, 2011 | 7:10 pm

Molycorp announces major rare earth supply agreement with Hitachi Metals

Molycorp, Inc. (NYSE: MCP), the Western hemisphere's only producer of rare earth oxides (REO) and the largest REO producer outside of China, announced that it has reached an agreement with Hitachi Metals to supply the company with rare earth magnetic materials, including Didymium (a mix of neodymium and praseodymium) metal and alloy, as well as Lanthanum Oxide.

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Business Wire Natural Resources News | August 12, 2011 | 7:04 pm
Caterpillar profit drops for second successive quarter due to weak mining demand

Finning delivers record earnings in Q2 2011

Finning International Inc. (TSX:FTT) reported record quarterly basic earnings per share (EPS) of $0.48, up 129% over Q2 2010. Finning achieved Q2 2011 revenues of $1.5 billion, a 39% increase from Q2 2010. Earnings before interest and income taxes (EBIT) of $120 million were up by 91% from Q2 2010 and EBIT margin of 8.1% was significantly higher than 5.9% in Q2 2010. Improved EBIT margin performance reflected higher profitability in Canada and the UK & Ireland, as well as a solid performance in South America.

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Marketwire | August 12, 2011 | 5:30 pm

Louis James: add gold stocks during dip

Even with the turmoil in today's markets, Louis James, chief metals and mining investment strategist at Casey Research and the senior editor of International Speculator, Casey Investment Alert and Conversations with Casey, says business really does go on. He stresses that even in the face of what he calls "truly economically suicidal behavior on the parts of world governments," he remains very bullish on precious metals.

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The Gold Report | August 12, 2011 | 3:30 pm

Forbes Coal reports first quarter 2012 run of mine production of 311,000 tonnes, a 45 pct increase over three months ended February 28, 2011

Forbes & Manhattan Coal Corp.announced its first quarter financial results for the three months ended May 31, 2011. First quarter financial highlights were the following: revenue of $19.6 million; gross profit of $4.2 million; and consolidated EBITDA of $5.6 million and Slater Stand Alone EBITDA of $6.2 million (see non- GAAP measures); and cash and cash equivalents of $19.8 million. The average monthly revenue for the first quarter 2012 was $6.5 million. In fiscal 2011, from the date of acquisition to February 28, 2011 (a seven month period), average monthly revenue was $3.9 million. This represents a 65% increase in average monthly revenue.

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Marketwire | August 12, 2011 | 12:23 pm

Bre-X defence lawyer faces disciplinary hearing

The lawyer who acquitted the geologist at the centre of the Bre-X scandal is facing a disciplinary hearing in Toronto for his conduct during the trial, which happened a decade ago. The Law Society of Upper Canada accuses Joe Groia of professional conduct for "incivility" during the trial, The Globe and Mail reported on Thursday: Mr. Groia, 56, criticized in previous court judgments for using “petulant invective” and “guerillia theatre” in the Bre-X trial, faces anything from a reprimand to the revocation of his licence if a three-member Law Society panel finds he violated the profession's rules.

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Andrew Topf | August 11, 2011 | 6:32 pm

Selwyn mobilizes drills to ScoZinc Mine

Selwyn Resources Ltd. (TSX VENTURE:SWN) ("Selwyn") is pleased to inform investors that it has commenced exploration activities at the ScoZinc mine (formerly the Scotia mine) to provide infill definition drilling and to conduct near-mine exploration in support of the mine restart activities. Restart activities were initiated shortly after closing of the acquisition of ScoZinc Limited (see June 1, 2011 news release). ScoZinc Limited has entered into a drilling contract with Logan Drilling Group of Stewiacke, Nova Scotia. Two drill rigs are being mobilized to the ScoZinc mine for the commencement of diamond drilling.

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Marketwire | August 11, 2011 | 6:17 pm