Leaders in Washington failed to reach an agreement on the fiscal cliff. What does that mean for the 2013 outlook? Stock market participants were encouraged by progress in fiscal cliff negotiations last week. For months Democrats and Republicans have been digging in, refusing to budge. However, in the early part of last week, the two …
Colt Resources has discovered a significant new gold zone beneath its Chaminé Deposit as well as intersecting several rich areas closer to surface in the Chaminé and Casas Novas deposits, in the Boa Fé Gold Project, Southern Portugal. The Chaminé “Deeps” drilling programme intersected 21.75m at 2.07 from 434.35m (inclined between -60o to 145o) including …
Herencia Resources has increased the silver resource at its Paguanta Project (70% Herencia) in Chile to 15.6Moz, an increase of ~2.2Moz due to the identification of near-surface silver mineralisation up-dip from existing resources following recent sampling programmes. As the new Silver Resource is located close to the surface the Companybelieves it could be mined in an open pit. Metallurgical …
African Copper has released a further cautionary statement in line with those of the 28 February 2012, 16 April 2012, 30 May 2012, 10 July 2012, 22 August 2012 and 03 October 2012. ZCI, which is trying to realise value from its 84.9% holding in African Copper may dispose of its entire interest in African Copper. …
African Copper has released a further cautionary statement in line with those of the 28 February 2012, 16 April 2012, 30 May 2012, 10 July 2012, 22 August 2012 and 03 October 2012. ZCI, which is trying to realise value from its 84.9% holding in African Copper may dispose of its entire interest in African Copper. …
Canadian Orebodies Inc. has interests in 11 mining exploration properties located in Canada. The Company’s exploration focus is on iron ore, and its main property is the Haig Inlet iron ore project, located on the Belcher Islands in Hudson Bay in southern Nunavut. Being relatively unknown, the Haig Inlet project is a hidden gem in …
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As expected, Federal Open Market Committee announced that purchases of Treasuries will be added to QE3 in 2013 (the Fed will continue to buy $40 billion per month in mortgage-backed securities and $45 billion per month in long-term Treasuries). Fed policymakers also announced threshold guidance on the overnight lending rate, which will make the Fed’s …
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Hambledon has announced another set of drilling results from the Sekisovskoye underground project. These results cover the drilling conducted between the last update in June 2012 and the 9th December 2012. These results cover an additional 6,343m of drilling, taking the total drilling to date to 21,249m in 172 holes. In the results for the …
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Centamin has advised that it has received an illegal retrospective claim from the Egyptian General Petroleum Corporation (“EGPC”) for LE403M (c. US$65 M) for diesel fuel supplied from December 2009 until January 2012. Furthermore, EGPC has refused to authorise future supply of diesel to the Sukari Gold Mine until this amount is paid. The Company, …
Colt has released the assay results from 6 drill holes from its Monfurdo drilling campaign within the Company’s 100% owned (47km2) Boa Fe Experimental Mining License. These were the last results of a twelve hole drill programme. Five of the six holes were drilled vertically and the sixth inclined with the maximum depth being 140m. …
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Colt Resources has released the final analytical results for 27 diamond drillholes from its ongoing drilling campaign on the Banhos gold deposit, within the Company’s 100% owned 47Km2 Boa Fe Experimental Mining License in southern Portugal. To date a total of 65 holes have been analysed and highlights from these results include intersects of 8.39g/t …
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Vatic Ventures Inc. has issued an independent NI 43-101 Technical Report on the Company’s mineral claims in Sinaloa, Mexico (“The La Silla Gold, Silver Project, Mexico NI 43-101 Exploration Report”). The Technical Report reviews the geology and previous exploration activities, based on historical documentation, a site visit, and discussions with project management. The Report says …
1. Further Assays from 2012 Drill Program Canadian Orebodies Inc. has reported further assay results from the summer drill program at the Company’s Haig Inlet iron ore project on the Belcher Islands in Hudson Bay, southern Nunavut. The results included 85.5 metres of 28.0% Fe (including 26.2 metres of 35.7% Fe) at the Kihl Bay …
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Polo Resources Ltd announced an offer to acquire up to 9,378,571 ordinary shares in Signet. The offer is conditional on Polo achieving a total shareholding of over 50.0% of the issued share capital of Signet. Polo offers 40 new shares in the Company as consideration for each Signet share. If all target shares acquired, Polo will …
Antioquia has published all final drill hole results from the 2012 drilling program at the Company’s Cisneros project in Colombia. 46 holes were completed (13,111 metres of drilling) in the 2012 program. The Company is compiling, interpreting, and modelling the results, which will be used in the preparation of an NI 43-101 compliant resource report and …
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The recent economic data are consistent with a moderate pace of growth in the near term. The manufacturing sector is mixed, but generally weak, reflecting a global slowdown and an inventory correction. The consumer appears to be hanging in there. The Bureau of Labor Statistics said that Hurricane Sandy did not have a significant impact …
Highland Gold has announced the acquisition of a license for exploration and mining rights for the Western Flank, a 3.9 km2 property immediately adjacent to the Company’s existing Mnogovershinnoye (MNV) mine operations. The acquisition resulted from an open auction held on 6 December in the regional capital of Khabarovsk for a bid price of 8.690 …
Last week the Company received notices from the ICMM (The Independent Commission for Mines and Minerals) purporting to annul four of the five mining licences issued to various subsidiaries of Fox Marble and requiring that operations be suspended in those quarries. These quarries consist of two sites in Rahovec, one in Peja and one in …
Balamara Resources has announced that it is on track to upgrade its resource base at its Montenegro Base Metals Project (Monty) in central Europe after reporting thick intersections of high-grade lead, zinc and silver from a further three recently completed holes. The three holes were drilled at the main Brskovo deposit and a further …
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Altona Energy has executed a side letter to the Share Purchase Agreement signed on 2 July to acquire an indirect 95% beneficial interest in an advanced coal exploration licence (“EL1″), with an option to acquire a further advanced coal exploration licence (“EL2″), both located in the Xinjiang Autonomous Region of the People’s Republic of China. The …
- After rising slightly in the wake of the December jobs report, US equity indices are giving up gains. The DJIA is flat on the day, the S&P500 is down 0.1% and the Nasdaq is down 0.5%. Benchmark 10-year notes were down, yielding 1.61%, up from 1.59% late on Thursday. Front-month crude is nearly the …
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North Sea Energy: Portfolio Restructuring - It’s always a good exercise for O&G companies to review its exploration portfolio for the effective utilization of funds. North Sea plans to relinquish 22/5c, 15/21d and 13/28b blocks following award of three new blocks in the 27th UKCS licensing round. The Company had recently raised $3.8mm through private placement …
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Orosur Mining Inc. announced that its production for the second quarter ended 30 November, 2012 was 13,970 ounces and the Company remains on track to achieve its forecast production target of 63,000 to 68,000 ounces for the full year. The Company notes that the development of the Arenal Deeps ramp is on track for completion during …
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Aurum Mining has raised gross proceeds of £693,960 through the issue of 23,131,988 shares at 3p ps. Directors Chris Eadie and Haresh Kanabar subscribed for 166,667 and 333,334 shares respectively and related party DW Pension Fund subscribed for 4,600,000 giving it a 21.23% interest in the enlarged share capital. These funds will be used for the …
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Revisions to the 3Q12 GDP data have altered the near-term consumer spending outlook, adding to the anxiety surrounding the fiscal cliff. However, even if much of the fiscal tightening is postponed, more will be needed in the years ahead. The estimate of 3Q12 GDP growth was revised to a 2.7% annual rate, vs. 2.0% in …
If you are renting a van in the UK or Europe you are often liable for an excess of between GBP 500 and GBP 1500 if the van is damaged or stolen, even if it is not your fault. Van hire excess insurance is available to reduce this, but the leading rental companies charge between …
Egdon Resources: Production Update - Resumption of production from the Ceres Gas Field is positive. Operational issues had led to production shut-down at Ceres and consequently net proven producing reserves were reduced to 1.3bcf from 3.7bcf. Production at Kirkleatham gas fields still remains shut due to high water production. However, Exploration and Appraisal portfolio appears key …
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Berkeley Mineral Resources PLC announced its results for the year ended 30 June 2012. For the year ended 30 June 2012, the loss was £1.5M before tax compared with a loss of £2.4M for the prior year. The majority of the loss for the year comprises management and administrative expenses and includes pre acquisition costs of …
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Tertiary Minerals PLC announced the results of its due diligence review which defines a major fluorspar deposit that, the Company believes, could have world class potential. Newly acquired data reveals widespread thick and flat-lying zones of open-pit mineable fluorspar mineralisation not bottomed by the majority of vertical drill holes. Significant drilling results extend over an area …
SIR Royalty Income Fund (the “Fund”) reported results for the third quarter ended September 30, 2012, with net earnings of $0.27 per unit compared with $0.26 a year earlier. Same-store sales growth (SSSG) for the Royalty Pooled Restaurants was 2.1% in the quarter and 3.8% year-to-date. COMMENT: A continuing strong performance by the Jack Astor …
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Ironveld PLC announced the results of its metallurgical testwork. Based on the results of LIMS testwork on a minus 1.18mm MML feed to produce a pre-reduction concentrate product grading 53% Fe and 3.1% SiO2 with an excellent recovery of Fe of 92% can be achieved. Similarly the Main Magnetic Layer combined with 5m of footwall disseminated …
Baobab Resources PLC announced that it has signed a Joint Venture Agreement with Australian exploration company Metals of Africa Limited in relation to the Company’s Changara Project in Tete Province, Mozambique. MTA has entered into the JVA through its 100% subsidiary Afriminas Minerais Limitada. The JVA is conditional upon MTA receiving approval from its shareholders at …
Colt has released the assay results from a further 36 drill holes from its on-going drilling campaign within the Company’s 100% owned (47km2) Boa Fe Experimental Mining License. Thirty of these results relate to the Banhos deposit, where previously only 2 results had been released. The results focused primarily on the Banhos deposit which is …
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EMED Mining has announced that the competent District Mining Bureau of Banska Bystrica, Central Slovakia, has approved the Mining Lease Area (“MLA”) over the mineral rights to the Biely Vrch Gold Deposit. This interim approval is now passed to the Slovak Central Mining Bureau for ratification before it becomes final and binding, usually within a …
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Mariana has discovered a new rhyolite domefield at Los Cisnes (100% Owned) within the eastern Deseado Massif in Santa Cruz, Argentina which hosts the Company’s Las Calandrias project (100%). Six target areas have been identified within the domefield with the Company initially focussing on the El Solar and El Brio Targets. The Company’s exploration team …
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Minera IRL has announced an upgrade ore resource estimate for the Don Nicolas Project in Argentina. The Measured and Indicated Resources have increased by 23% to 468k oz of gold an increase of 87k oz on the resource published in 2011. The increase in the Inferred Resource is 14%, taking it to 165k oz, …
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Hochschild has announced an update to its Advanced Projects schedule. Changes made by the Peruvian Government to the submission requirements for construction permit applications which, together with the number of industry applications being processed have led to a longer than expected permitting process. The result of this is that Hochschild now expects to receive the …
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Adira has filed a draft prospectus with the Israeli Securities Authorities in connection with the Company’s previously announced application to list its securities on the Tel Aviv Stock Exchange. (2) Adira has also filed a preliminary short-form prospectus with the securities regulatory authorities in Ontario, British Columbia and Alberta in connection with a fully marketed best-efforts …
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Gemfields PLC announced its proposed acquisition of a 100% interest in Fabergé Limited with a view to creating a globally recognised coloured gemstone champion. Fabergé will provide Gemfields with direct control over a high-end luxury goods platform and a global brand with an exceptional heritage. The Proposed Acquisition consideration will be satisfied by the issue of …
The fiscal cliff refers to a substantial tightening of fiscal policy in 2013. Monetary policy cannot offset the cliff’s negative effect on the economy. However, it would be surprising if a deal were not reached, if not by the end of this year, then in early 2013. Due to concerns about the long-term budget picture, …
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