Beiträge von GSP-Komet

NEW YORK, May 23, 2007 (BUSINESS WIRE) -- The New York Society of Security Analysts (NYSSA) will present the 7th Annual Metals & Mining Conference on June 6, 2007.
For the sixth year in a row, metal prices have outperformed the major stock indices. Concerns about an economic slowdown and an accelerating fall of the U.S. dollar are contributing to the positive forecast for precious metals in 2007 and beyond. Additionally, further consolidation within the mining industry and short-term stock volatility are expected to buoy metals stock prices in the sector. Join corporate executives and industry insiders as they discuss if now is the time to invest in metals and mining stocks.
The following companies are presenting:
Aurelian Resources, Inc. (CA:ARU) ; Coeur d'Alene Mines Corp. (CDE: Coeur d'Alene Mines Corporation) ; Hecla Mining Company (HL: Hecla Mining Company) ; Lihir Gold Ltd. (LIHR: lihir gold ltd sponsored adr) ; Minefinders Corporation Ltd. (MFN: minefinders ltd com) ; North American Palladium Ltd. (PAL: north amern palladium ltd com) ; NovaGold Resources, Inc. (CA:NG) ; Silver Standard Resources, Inc. (SSRI: silver std res inc com) (CA:SSO) ; Silvercorp Metals, Inc. (CA:SVM) ; and Southwestern Resources Corp. (CA:SWG) .
The conference will be held on June 6, 2007, 8:30 a.m. to 5:10 p.m., at NYSSA, 1177 Avenue of the Americas, 2nd Floor, NYC. The registration deadline is May 30, $265 NYSSA members, $365 nonmembers. No charge for press with credentials.
A complete agenda is available at http://www.nyssa.org/Template.…n=conferences___seminars& template=/ContentManagement/ContentDisplay.cfm&ContentID=10229 (Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.)
About NYSSA
The New York Society of Security Analysts (NYSSA) is celebrating 70 years as a leading forum for the investment community. NYSSA's mission is to promote best practices and the highest professional and ethical standards in the industry. NYSSA is the largest of the more than 134 societies worldwide that make up CFA Institute, which has more than 90,000 members.
SOURCE: The New York Society of Security Analysts (NYSSA)

COEUR D'ALENE, Idaho, May 22, 2007 (BUSINESS WIRE) -- Coeur d'Alene Mines Corporation (CDE:CDE) (CA:CDM) said today that a three-judge panel of the United States Court of Appeals for the Ninth Circuit, consistent with its March 16, 2007 order, today issued a ruling that overturns a lower court decision that had upheld the validity of the 404 permit for the Kensington gold mine in Alaska. The United States Army Corps of Engineers, in consultation with the United States Environmental Protection Agency, had issued the tailings disposal permit to Coeur in 2005 pursuant to authority granted to the Corps of Engineers under Section 404 of the Clean Water Act.
As previously disclosed in the Company's March 17 press release, the company is continuing to review its options, including possible appeals to a 15-judge panel of the Ninth Circuit and the Supreme Court of the United States.
Coeur d'Alene Mines Corporation is one of the world's leading primary silver producers and a growing gold producer. The company has mining interests in Alaska, Argentina, Australia, Bolivia, Chile, Nevada, and Tanzania.

TORONTO, CANADA, May 24, 2007 (MARKET WIRE via COMTEX) -- Glass Earth Limited (CA:GEL) (NZAX: GEL) ("Glass Earth") provides a progress report and preliminary results of exploration on its permits in the Hauraki Region, North Island, New Zealand, under joint venture with Waihi Gold Company Limited (a subsidiary of Newmont Mining Corporation).
In February 2007, a Joint Venture was entered into with Newmont over Glass Earth's entire Hauraki Region permit area, for Newmont to fund and undertake exploration programmes in each of the 3 sectors of the Hauraki Region (Northern, Central and Southern). All sectors are within trucking distance of the world-class 10 million ounce Martha Gold Mine operated by Newmont at Waihi. This new joint venture complements the earlier Waihi West Joint Venture with Newmont over Glass Earth's Waihi West permit, immediately adjacent to the Martha Gold Mine.
Hauraki Joint Venture
The potential exists for the location of Martha-size gold systems and/ or additional high grade mill feed for the existing Waihi milling operations.
Newmont already possessed significant databases of the Hauraki Region (including extensive magnetic surveys, regional mapping, and stream sediment sampling). By collating and interpreting this information Newmont obtained preliminary results that defined prospect areas for detailed follow-up work and drilling. Most of these targets correspond well with those generated by Glass Earth's own 2004/05 data intervention and targeting process. Lack of correlation tends to be in areas of poor quality magnetic data sets.
Newmont's 2007 exploration programme on Glass Earth's Hauraki permits includes Hoist Electro-Magnetic surveying (already under way), surface geochemistry and resistivity surveys to define drill targets. First pass drilling is planned for mid 2007.
Hoist EM surveying (Newmont's proprietary EM/magnetic system suspended under a helicopter) has already highlighted interesting resistivity anomalies over the Wentworth/Glamorgan, Wharekiriponga (WKP) and Owharoa areas, providing incentive to advance on-ground exploration of these areas as a priority.
Waihi West Joint Venture
This joint venture area is contiguous to the southern end of the Martha pit and contains potential strike extensions of all the major Martha veins, south and eastward. It also covers potential southerly strike extensions of the nearby Union Hill veins (Amaranth, Union and Trio).
Soon after inception of the joint venture in April 2006, Newmont completed collecting gravity, magnetic and CSAMT resistivity data to assist in the targeting of drill locations and orientation. Since then, Newmont has drilled three holes, reporting the following intercepts:
UW254: 1m @ 0.69 ppm Au (180m) 1m @ 0.44 ppm Au (445m) 6.4m @ 0.28 ppm Au (approx 565m) UW272 : 5m @ 0.13 ppm Au (347 -352m) 1.6m @ 0.26 ppm Au (437 -438.6m) UW 278: 3m @ 0.11 ppm Au (253m) 6m @ 0.18 ppm Au (286 -292m)
Newmont completed its initial work obligations (NZ$400,000 within 12 months) early and has elected to move to the next stage whereby it may earn a 60% equity in the permit by expending an aggregate NZ$1.5m (approximately C$1.25m). Newmont has advised that it intends to drill a further hole near the UW 272/278 location and follow-up on several anomalous geophysical features identified through on-ground surveying.
Qualified Persons
Glass Earth's exploration programmes are carried out under the supervision of Glass Earth's VP Exploration and Chief Operating Officer, Mr. Simon Henderson, M.Sc, M.AUSIMM. Mr. Henderson meets the qualified person requirements (as defined by National Instrument 43-101) with more than 30 years of experience in the gold mining and exploration industry.
About Glass Earth Limited
Glass Earth is one of the largest New Zealand-based gold exploration companies exploring a land position of over 31,000 square kilometres in the North and South Islands. See the exploration regions overview map at Figure 1
To view a copy of the "Figure 1 - GEL exploration regions - overview map", please visit the link below: http://www.ccnmatthews.com/docs/Gel-exploration.pdf
In the North Island, exploration efforts are focused on the Hauraki / Central Volcanic Region. The Hauraki / Central Volcanic Region is host to the 10 million ounce gold Waihi / Martha Mine, owned by Newmont Mining, which is considered the "type" epithermal gold deposit and the kind of large epithermal gold deposit targeted by Glass Earth.
- Hauraki Region - With 11 advanced gold prospects, this region occupies a significant ground position around the Waihi / Martha Mine; Newmont has commenced earning into the Glass Earth permits via two Joint Ventures: Waihi West permit, immediately adjacent to the Waihi / Martha Mine; and the environing Hauraki Region permits.
- Mamaku Region - With 17 recently-defined gold targets, this region includes the Muirs Reef prospect, which historically has produced more than 43,000 ounces of gold;
- Central Volcanic Region - Glass Earth has defined 74 epithermal gold targets in this region, including 6 advanced prospects in the process of being drilled.
In the South Island, exploration efforts are focused on the Otago Region for mesothermal "Macraes-style" gold targets and alluvial gold.
- Otago Region - A major data collection/geophysical survey over this region commenced in January 2007, to be followed by a targeting process to identify priority areas of gold potential for detailed evaluation.
Glass Earth Limited, headquartered in Toronto with New Zealand operations offices, is listed on the TSX Venture Exchange (TSX VENTURE: GEL) and the New Zealand Alternative Stock Exchange (NZAX: GEL).
Neither the TSX Venture Exchange nor New Zealand Exchange Limited has reviewed this release and neither accepts responsibility for the adequacy or accuracy of this release.

One of the ways miners have been getting bigger as of late is through mergers and acquisitions -- and the next takeover play Winmill sees on the horizon involves Miramar Mining (MNG). The company recently announced it had found some new high-grade ore in northern Canada. Winmill says Newmont Mining (NEM) already holds a 15% stake in the company and "might want to gobble up the whole thing before it gets too big in size."

VANCOUVER, BRITISH COLUMBIA, May 22, 2007 (MARKET WIRE via COMTEX) -- Paragon Minerals Corporation (CA:PGR) is pleased to announce that it has completed a Phase II drill program (7 holes, 1,805 metres) on it's partner-funded Huxter Lane Project, located 60 kilometres south of Grand Falls-Windsor in central Newfoundland. The Huxter Lane Project is a bulk mineable gold target that is being explored under the terms of an option agreement between Paragon and Meridian Gold Inc. (CA:MNG) (MDG: Meridian Gold Inc) , whereby Meridian can earn a 55% interest by spending $1.0 million over three years.
The Phase II drill program followed up on the success of the October 2006, Phase I drill program which outlined a significant mineralized gold-bearing porphyritic intrusion, the Mosquito Hill Zone, over a strike length of 450 metres. Drill intercepts from the previous drilling include 2.21 g/t gold over 35 metres and 1.07 g/t gold over 28.6 metres (see Paragon website for details).

LONDON, UNITED KINGDOM, May 25, 2007 (MARKET WIRE via COMTEX) -- Lero Gold Corp. ("Lero", or the "Company") (CA:LER) is pleased to announce that Gold Fields Exploration B.V. ("Gold Fields"), an indirect wholly-owned subsidiary of Gold Fields Limited, has agreed to acquire, by way of private placement, 466,840 shares in the Company at CAD$0.50 each ("Shares"), for gross proceeds of CAD$233,420.00. Completion of the private placement is subject to certain conditions, including regulatory approval.
This will be the second such placement by Gold Fields into Lero; the first being of five million shares at CAD$0.50 each, raising CAD$2,500,000 in November 2006. Upon completion of this second placement, Gold Fields' holding within the Company will total 5,466,840 common shares (8.99%)
Lero has undertaken to expend at least CAD$2,000,000 of the gross proceeds from the initial private placement, together with all of the CAD$233,420 of the gross proceeds from this second private placement as exploration expenses on the tenements identified in the previous placement, being the Kentash, Taldybulak and Korgontash tenements in the Talas Region and the tenement identified in the second private placement, being the Barkol exploration licence, north western Kyrgyzstan.
In November 2006, Lero granted Gold Fields an option to enter into a joint venture agreement with the Company under which Gold Fields has the right to;
- earn up to a 60% interest in exploration licences on the Kentash, Taldybulak and Korgontash tenements in the Talas Region by funding exploration expenditures of up to CAD$10 million, and
- increase its interest in the project by a further 10% (to a total of 70%) by funding the expenditure of up to a further CAD$10 million on a feasibility study. Thereafter, Gold Fields and Lero will contribute to the project requirements on a pro-rata basis through to development, if appropriate.
In terms of this second private placement, Lero has agreed to extend this option to include the Barkol exploration licence as well.
President and CEO of Lero, Nick Clarke said:
"Recent and on-going exploration within our Kyrgyzstan-based Taldybulak licence confirms extensive copper-gold porphyry mineralisation. Having the world's fourth largest gold producer, Gold Fields, agreeing to make this indirect investment in our Company and showing such an interest in our exploration programmes is very welcome. The Company's exploration efforts within the Barkol licence will be enhanced by the subscription funds received from Gold Fields, on terms that reflect their confidence in our licence areas and in our management. This further collaboration with Gold Fields represents another key step forward in developing our Company's resources."
Notes to Editors:
1. Lero Gold Corporation (CA:LER: news, chart, profile) is a new base and precious metal exploration company led by a senior management team with extensive expertise in mineral exploration and advanced project management. In July, 2006 Oriel Resources Plc completed its previously announced transfer and sale of its gold related assets into Lero Gold Corporation ('Lero') (formerly ELE Capital Corporation - 'ELE'). Lero resumed trading on TSX Venture Exchange (TSX-V) on Thursday July 27, 2006 under the trading symbol "LER". Lero Gold is currently seeking and evaluating advanced exploration stage gold and base metal projects in Kazakhstan, Kyrgyzstan and Russia.
2. Gold Fields Exploration B.V. is an indirect wholly owned subsidiary of Gold Fields Limited
3. For avoidance of confusion;
a. The Taldybulak-Talas copper-gold porphyry is a separate deposit from the Taldybulak Levoberezhny gold deposit previously owned by Central Asia Gold Limited, and
b. The Talas Copper Gold Limited Liability Company the holder of the Lero owned Taldybulak licence is a separate company from Talas Gold Mining Company which is the owner of the Jerooy Gold project
4. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Contacts: Lero Gold Corporation Nick Clarke President & CEO +44 (0) 20 7514 0590 Lero Gold Corporation Darryl Yea Non-Executive Chairman (604) 699-2458 Lero Gold Corporation Gavin Dallas Marketing and PR +44 (0) 20 7514 0590 Lero Gold Corporation Patrick Elliot Manager IR (604) 643-1744 Email: info@lerogold.com Website: http://www.lerogold.com Bankside Consultants Michael Padley / Michael Spriggs +44 (0) 20 7367 8888
SOURCE: Lero Gold Corporation

JOHANNESBURG, May 24, 2007 (Dow Jones Commodities News via Comtex) -- Edited Press Release
Gold Fields Ltd. (GFI) said Barrick Gold Corp. (ABX) has sold a portion of the shares it received as part payment for its 50% stake in South Africa's South Deep gold mine.
The South African mining company said that on reconciliation of its share register, it came to its attention that Barrick had reduced its holding in Gold Fields to about 4.63 million shares from 18.7 million shares.

SPOKANE, Wash., May 23, 2007 (BUSINESS WIRE) -- Gold Reserve Inc. (CA:GRZ) (GRZ: gold resv inc cl a) announced today that the underwriters of its May 18, 2007 public offering of Class A common shares ("Common Shares") and senior subordinated convertible notes ("Convertible Notes") have exercised over-allotment options and will purchase an additional US$13,500,000 principal amount of Convertible Notes and 962,300 Common Shares at US$5.80 per share. The Convertible Notes were offered and sold to the public at their stated principal amount of US$1,000 per Convertible Note and have a semi-annual cash interest coupon of 5.50% per year. Each US$1,000 principal amount of Convertible Notes is convertible at the option of the holder into 132.6260 Common Shares, subject to adjustment, representing an initial conversion price of US$7.54.
The Company will receive aggregate net proceeds from the exercise of the over-allotment options of approximately US$18 million after deducting underwriting fees and estimated expenses.
The Company intends to use the net proceeds from the offerings and the exercise of the over-allotment options to fund construction activities, equipment purchases and ongoing development of its Brisas project.
J.P. Morgan Securities Inc. and RBC Capital Markets acted as joint book running managers for the offerings with Cormark Securities Inc. acting as co-manager.
Copies of the prospectuses relating to the Convertible Notes and the Common Shares may be obtained from the underwriters or their respective U.S. or Canadian affiliates as follows: J.P. Morgan Securities Inc. at National Statement Processing, Prospectus Library, 4 Chase Metrotech Center, CS Level, Brooklyn, NY 11245, telephone: 718-242-8002; RBC Capital Markets - in Canada, call 416-842-5345, in the U.S., RBC Capital Markets Corporation, Attention: Prospectus Department, One Liberty Plaza, 165 Broadway, New York, NY, 10006, (fax requests - 212-428-6260); or Cormark Securities Inc. - in Canada, call 416-943-6405, in the U.S., call 1-800-461-2275.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
The Company has been engaged in the business of exploration and development of mining projects since 1956, and is presently focusing its management and financial resources on its most significant asset, the Brisas gold and copper project, located in Bolivar State, Venezuela.
Certain statements included herein, including those that express management's expectations or estimates of our future performance, constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management are inherently subject to significant business, economic and competitive uncertainties and contingencies. We caution that such forward-looking statements involve known and unknown risks, uncertainties and other risk factors that may cause the actual financial results, performance, or achievements of Gold Reserve to be materially different from our estimated future results, performance, or achievements expressed or implied by those forward-looking statements. These are discussed in greater detail in Gold Reserve's filings with the U.S. Securities and Exchange Commission at http://www.sec.gov and the Annual Information Form and other reports filed with Canadian provincial securities commissions at http://www.sedar.com. Gold Reserve expressly disclaims any intention or obligation to update or revise any forward-looking statement whether as a result of new information, events or otherwise.
On behalf of the Board of Directors
A. Douglas Belanger, President
926 W. Sprague Ave., Suite 200
Spokane, WA 99201 USA
Tel. (509) 623-1500
Fax (509) 623-1634
SOURCE: Gold Reserve Inc.

MOSCOW, May 23 (AP) — The Russian mining company Norilsk Nickel raised its bid to acquire LionOre Mining International of Canada to $6.27 billion on Wednesday, showing its determination to win a bidding war with a rival, Xstrata.

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Norilsk Nickel, the world’s biggest nickel and palladium producer, has made major forays overseas in recent years, acquiring the Stillwater Mining Company and the nickel business of the OM Group. In 2004, Norilsk, which held a 20 percent stake in Gold Fields, backed a hostile takeover bid by the Harmony Gold Mining Company of South Africa that was ultimately unsuccessful.

If it wins its quest for LionOre, Norilsk’s global footprint will expand beyond its current operations in Australia, Botswana and South Africa.

In the precious metals patch, HSBC was busy changing ratings on a slew of miners, due mainly to recent stock price movements. Agnico-Eagle Mines (AEM), AngloGold Ashanti (AU) and Royal Gold (RGLD) were all upgraded to overweight from neutral.

In the precious metals patch, HSBC was busy changing ratings on a slew of miners, due mainly to recent stock price movements. Agnico-Eagle Mines (AEM), AngloGold Ashanti (AU) and Royal Gold (RGLD) were all upgraded to overweight from neutral.

DJ Barrick Reduces Its Stake In South Africa's Gold Fields >GFI

Last Update: 6:45 AM ET May 24, 2007

JOHANNESBURG, May 24, 2007 (Dow Jones Commodities News via Comtex) -- Edited Press Release
Gold Fields Ltd. (GFI) said Barrick Gold Corp. (ABX) has sold a portion of the shares it received as part payment for its 50% stake in South Africa's South Deep gold mine.
The South African mining company said that on reconciliation of its share register, it came to its attention that Barrick had reduced its holding in Gold Fields to about 4.63 million shares from 18.7 million shares.

GOLDEN, Colo., May 15, 2007 /PRNewswire-FirstCall via COMTEX/ -- Canyon Resources Corporation (CAU: canyon resources corp com new) , a Colorado-based mining company, is pleased to announce the employment of Mr. Stephen Zahony as Vice President, Exploration. Mr. James Matlock has resigned as Vice President of Exploration, a position that he has held since January 2006, to spend more time with his wife and daughter in Zurich, Switzerland. "I have enjoyed my time with Canyon and I hope that my work has added long-term value to the Company. I am pleased that we were able to attract someone of Steve's caliber to the Canyon team," states Jim Matlock. Jim will continue to work with Canyon as a consultant.
Steve is a mining and mineral exploration geologist with particular proficiency and passion for the understanding of ore deposits and mining properties. He has managed numerous large to small projects in a variety of geological and political environments and has held lead positions in several significant mineral discoveries. His experience includes three years as resident mine geologist at the Henderson and Climax molybdenum mines in Colorado and five years as a district exploration manager for Noranda Mines. For the next 20 years, he worked as a consulting geologist on projects in the Americas, Europe, and Asia. Most recently, he was vice president of exploration for Brazauro Resources Corp. and was previously chief exploration geologist of Ma'aden/Saudi Arabian Mining Co. Steve is a member of the Society of Economic Geologists with an M.A. degree in geology from Dartmouth College and a B.S. degree from Ohio State University.
Steve's duties shall include oversight of the geologic, drilling and resource development programs for the Company. In addition, he shall be responsible for conducting and overseeing property evaluations as part of our ongoing property acquisition and development program.
"Steve brings a vast amount of experience and knowledge to us and we are fortunate to attract a person with his skills. He has a key role to play in our forward-looking growth strategy and in the development of our Company. We are pleased to have Steve continue the fine job that Jim began and we welcome him to our team," states James Hesketh, President and CEO.
About Canyon Resources

Richmont Mines Inc. and Patricia Mining Corp. Announce the Reserve Calculation for the Island Gold Project
- Proven and Probable Reserves of 278,711 ounces

MONTREAL, QUEBEC, May 18, 2007 (MARKET WIRE via COMTEX) -- Richmont Mines Inc. (CA:RIC) (RIC: richmont mines inc com) and Patricia Mining Corp. (CA:PAT) are pleased to announce results of the reserve calculation for the Island Gold Project from the independent consultant GENIVAR. The Proven and Probable Reserves are estimated at 1,013,854 tonnes of ore at an average diluted grade of 8.55 g/t for a total of 278,711 ounces of gold, representing more than four years of production. In addition to the reserves, a total of 454,705 tonnes at an average grade of 10.26 g/t for 149,972 ounces of gold were classified as Measured and Indicated Resources while Inferred Resources are estimated at 610,728 tonnes grading 9.96 g/t for 195,549 ounces. Furthermore, GENIVAR concluded that the main zones remain open at depth and along strike in certain areas. The complete 43-101 technical report will be filed on SEDAR next week.

About Richmont Mines Inc.
Richmont Mines is a gold exploration, development and mining company. Since it started production in 1991, the Company has produced over 900 thousand ounces of gold from its holdings in Quebec and Newfoundland. Richmont Mines' strategy is to cost effectively develop its mining assets, exploit mineralized reserves on properties owned and acquired, or develop partnerships to expand its reserve base.

Mexivada Intersects 22.3 g/t Gold, 1,640 g/t Silver and High Grade Zinc-Lead Mineralization at Yecora, Sonora, Mexico
TSX-V: MNV OTC: MXVDF Frankfurt: M2Q

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Coeur d'Alene Mines (CDE: Coeur d'Alene Mines Corporation) recently made an offer to purchase all of the outstanding shares of Bolnisi Gold.

Palmarejo Silver and Gold Corporation Announces Formation of Joint Management Committee to Oversee Palmarejo Project

LONGUEUIL, QUEBEC, May 15, 2007 (MARKET WIRE via COMTEX) -- Palmarejo Silver and Gold Corporation (CA:PJO) ("Palmarejo"), Coeur d'Alene Mines Corporation (CDE: CDE) (CA:CDM) ("Coeur") and Bolnisi Gold NL (ASX: BSG) ("Bolnisi") today jointly announced that, in connection with their previously announced agreements to merge, they have formed a Joint Management Committee (the "Committee") to oversee the management of the Palmarejo Project through the close of the transaction. The Palmarejo Project, located in the state of Chihuahua, Mexico and 100% owned by Palmarejo, is one of the highest-quality primary silver projects in the world today.
The Committee, which is authorized to ensure the continued progress at the Palmarejo Project until the completion of the transaction, is comprised of three senior management and operating personnel from each of Coeur, Bolnisi and Palmarejo (including the chairman of the special committee of the Palmarejo Board of directors). Coeur's Richard Weston, Senior Vice president - Operations, will serve as Chairman of the Committee.
The Committee has identified the following initial priorities:
- Establishing Coeur's on-site presence at the Palmarejo Project and facilitating the integration of Coeur personnel with the Bolnisi and Palmarejo teams already in place;
- Completing an assessment of the present status of construction activity at the Palmarejo Project;
- Investigating the development of a combined open pit and underground mine plan and completing an initial estimate of proven and probable reserves at the Palmarejo Project; and
- Continuing exploration initiatives at Palmarejo, which totals over 12,100 hectares of prospective terrain, and formulating a strategy for future exploration activities.
"The formation of the joint management committee is an important step towards realizing the potential of this important transaction," said Dennis E. Wheeler, Coeur's Chairman, President and Chief Executive Officer. Mr. Wheeler added: "We are confident that we can deliver significant additional value by bringing Coeur's extensive exploration, development, and underground and open pit mining expertise to the Palmarejo Project. We look forward to continuing our progress in reinforcing Coeur as the clear leader in the silver mining industry."
As previously announced on May 3, 2007, Coeur, Bolnisi and Palmarejo entered into agreements to merge to create the world's leading primary silver producer. Pursuant to the agreements, which are subject to Coeur, Bolnisi and Palmarejo shareholder approvals and certain other customary conditions, Coeur will acquire all of the shares of Bolnisi, and all of the shares of Palmarejo not owned by Bolnisi.

COEUR D'ALENE, Idaho, May 15, 2007 (BUSINESS WIRE) -- Coeur d'Alene Mines Corporation (CDE: Coeur d'Alene Mines Corporation) (CA:CDM) ("Coeur") Bolnisi Gold NL (ASX:BSG) ("Bolnisi") and Palmarejo Silver and Gold Corporation (CA:PJO: news, chart, profile) ("Palmarejo") today jointly announced that, in connection with their previously announced agreements to merge, they have formed a Joint Management Committee (the "Committee") to oversee the management of the Palmarejo Project through the close of the transaction. The Palmarejo Project, located in the state of Chihuahua, Mexico and 100% owned by Bolnisi and Palmarejo, is one of the highest-quality primary silver projects in the world today.
The Committee, which is authorized to ensure the continued progress at the Palmarejo Project until the completion of the transaction, is comprised of three senior management and operating personnel from each of Coeur, Bolnisi and Palmarejo. Coeur's Richard Weston, Senior Vice president - Operations, will serve as Chairman of the Committee.
The Committee has identified the following initial priorities:
-- Establishing Coeur's on-site presence at the Palmarejo Project and facilitating the integration of Coeur personnel with the Bolnisi and Palmarejo teams already in place;
-- Completing an assessment of the present status of construction activity at the Palmarejo Project;
-- Investigating the development of a combined open pit and underground mine plan and completing an initial estimate of proven and probable reserves at the Palmarejo Project; and
-- Continuing exploration initiatives at Palmarejo, which totals over 12,100 hectares of prospective terrain, and formulating a strategy for future exploration activities.
"The formation of the joint management committee is an important step towards realizing the potential of this important transaction," said Dennis E. Wheeler, Coeur's Chairman, President and Chief Executive Officer. "We are confident that we can deliver significant additional value by bringing Coeur's extensive exploration, development, and underground and open pit mining expertise to the Palmarejo Project. We look forward to continuing our progress in reinforcing Coeur as the clear leader in the silver mining industry."
As previously announced on May 3, 2007, Coeur, Bolnisi and Palmarejo entered into agreements to merge to create the world's leading primary silver producer. Pursuant to the agreements, which are subject to Coeur, Bolnisi and Palmarejo shareholder approvals and certain other customary conditions, Coeur will acquire all of the shares of Bolnisi, and all of the shares of Palmarejo not owned by Bolnisi.
About Coeur d'Alene Mines
Coeur d'Alene Mines Corporation is one of the world's leading primary silver producers and a growing gold producer. The company has mining interests in Alaska, Argentina, Australia, Bolivia, Chile, Nevada, and Tanzania.
About Bolnisi
Bolnisi Gold NL is an Australia-based company engaged in mining and exploration for gold and minerals. The Company's activities are all Mexican precious metals operations with an existing portfolio of projects, which include the Palmarejo Silver-Gold project (including Trogan), Chihuahua; the Yecora Gold-Silver project, Sonora, and the El Realito Gold-Silver project, Chihuahua.
About Palmarejo
Palmarejo Silver And Gold Corporation is a silver/gold exploration company listed on the TSX Venture Exchange under the symbol "PJO". Palmarejo's principal activity is to explore and develop gold and silver properties located in the Temoris District of Chihuahua, Mexico within the Sierra Madre Occidental mountain range.

Newmont Mining (NEM) just broke solid support. If you are a gold bug, take heart. You'll probably be able to buy this crowd favorite at 2005 prices very soon. I'd look for the stock to fall to $35 before firming up.

Gold miner Newmont (NEM) has been downgraded to a hold from a buy. The company's net income fell 67.5% in the first quarter of fiscal 2007 compared to the same quarter a year ago.

Newmont's 34.2% gross profit margin has also been declining, which TheStreet.com Ratings feels is lower than what is desirable. Given these weaknesses, it is not surprising that the stock price has taken a hit, tumbling almost 26% over the past 12 months. Newmont had been rated a buy since May 2005.

VANCOUVER, BRITISH COLUMBIA, May 17, 2007 (MARKET WIRE via COMTEX) -- Great Basin Gold Ltd. ("Great Basin Gold" or the "Company") (CA:GBG) (GBN: great basin gold ltd com) (JSE: GBGOLD) announces that in respect of the Framework Agreement to effect the introduction of Tranter Gold (Proprietary) Limited ("Tranter") as a broad-based black economic empowerment shareholder in Great Basin Gold ("the proposed transaction"), the relevant transaction processes are continuing as envisaged.
As previously announced, Gold Fields Limited, GFL Mining Services Limited ("GFL"), Great Basin Gold and Tranter entered into a heads of agreement relating to the net smelter royalty payable by Southgold Exploration (Proprietary) Limited ("Southgold") to GFL ("the net smelter royalty"), in terms of which Southgold will pay to GFL an amount of R80 million in full and final settlement of the net smelter royalty and GFL will simultaneously contribute an amount of R80 million to Tranter ("the net smelter royalty transaction"). R70 million of this contribution is to be utilised by Tranter for the purposes of partly funding the total purchase consideration for the proposed transaction of R260 million. The date for the conclusion of a definitive agreement between the parties in respect of the net smelter royalty transaction has been extended to 31 May 2007.
The balance of the funding required for the proposed transaction of R190 million is to be secured by Tranter on commercially acceptable terms. Tranter is currently in advanced stages of finalising these funding arrangements.
Following the finalisation of the above processes, various other conditions precedent will be required to be fulfilled, including the required regulatory approvals being obtained for the proposed transaction in Canada and South Africa, which comprise, inter alia, approval from the South African Reserve Bank and approval from the Toronto Stock Exchange, the American Stock Exchange and the JSE Limited.
For additional details on Great Basin and its gold properties, please visit the Company's website at http://www.greatbasingold.com or contact Investor Services at (604) 684-6365 or within North America at 1-800-667-2114.
Ferdi Dippenaar, President and CEO