Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
VANCOUVER, BRITISH COLUMBIA–(Marketwire – Sept. 29, 2011) – Pitchstone Exploration Ltd. (TSX VENTURE:PXP) (“Pitchstone”) announces that it has agreed to option its share of the Dome Property in the Erongo region of Namibia to Rio Tinto Mining and Exploration Limited (Rio Tinto). Dome is part of a uranium exploration joint venture between Pitchstone (71%) and private company Manica Minerals Ltd. (29%) through Manica’s wholly-owned subsidiary Cheetah Minerals Exploration Ltd. The agreement with Cheetah allows Pitchstone to earn up to 90% of Dome.
