Beiträge von GSP-Komet

DENVER, Apr 03, 2007 (BUSINESS WIRE) -- Apex Silver Mines Limited (SIL:
apex silver mines ltd ord ) today reported a net loss of $326.4 million or $5.58 per share for the fourth quarter 2006 and a restated net loss of $72.3 million or $1.44 per share for the same 2005 period. The loss in the fourth quarter 2006 was mainly due to the company's share of a $340.5 million unrealized mark-to-market charge related to the commodity hedge position required by the company's lenders in connection with the $225-million project financing for its 65%-owned San Cristobal open-pit silver-zinc-lead project located in southwestern Bolivia. The charge stems from the application of Statement of Financial Accounting Standards No. 133, "Accounting for Derivative Instruments and Hedging Activities" (FAS No. 133), whereby the company records all derivative instruments on the balance sheet at fair value with changes in fair value recorded each period in current earnings. As of December 31, 2006, the company had closed out all of its discretionary hedges unrelated to the project financing. The company's remaining hedge positions are solely related to the San Cristobal project finance facility. The settlement dates for the hedge positions begin in the third quarter 2007, coinciding with the anticipated first sale of production at the company's San Cristobal mine, and are substantially settled by the fourth quarter of 2011. The company's fourth quarter 2006 loss was partly offset by $7.0 million in primarily interest income earned on higher cash and investment balances. In addition, the company recorded $1.6 million of royalty income received from a joint venture property in Mexico during the quarter.
For the year ended December 31, 2006, the company recorded a net loss of $513.5 million or $9.09 per share, primarily due to a realized loss of $42.6 million on its discretionary derivative program and the company's share of the unrealized mark-to-market derivative charge of $672.5 million related to the San Cristobal project financing offset by the third quarter $199.6 million gain on the sale of the 35% interest in San Cristobal to Sumitomo Corporation.
The company's loss for the year ended December 31, 2006 was partly offset by $19.7 million in interest and other income consisting primarily of interest earned on higher cash and investment balances and a $2.9 million gain related to the extinguishment of convertible notes during the year. In addition, the company recorded $1.6 million of royalty income received from a joint venture property in Mexico during the year.
At December 31, 2006, the company's aggregate cash and short and long-term investments, both restricted and unrestricted, amounted to $514.9 million. This amount included $97.2 million of cash and investments restricted to fund development of San Cristobal and outstanding corporate financial commitments. At December 31, 2006, the company had spent approximately $494 million of the projected $650 million total project cost including approximately $300 million spent in 2006.

TORONTO, ONTARIO, Apr 03, 2007 (MARKET WIRE via COMTEX) -- IAMGOLD Corporation ("IAMGOLD" or "the Company") (CA:IMG: news, chart, profile) (IAG : iamgold corp com) (ASX: IGD)(BSE: IAMGOLD) announced today that all of the Company's required annual financial statements have been filed with the appropriate regulatory bodies. These filings include the 40-F filed with the U.S. Securities and Exchange Commission, available through http://www.sec.gov/edgar.shtml, the Audited Annual Financial Statements, Management Discussion and Analysis and the Annual Information Form, filed on SEDAR as required under Canadian Securities regulations, available at http://www.sedar.com.
All of these filings are also available on the Company's website at http://www.iamgold.com. Hard copies of the audited financial statements and accompanying notes are also available, free of charge, to shareholders upon written request.

DENVER, April 5, 2007 /PRNewswire-FirstCall via COMTEX/ -- Newmont Mining Corporation (NEM: Newmont Mining Corporation) announced that it will report First Quarter 2007 results on Thursday, April 26, 2007. A conference call will be held that day at 4:00 p.m. Eastern Time (2:00 p.m. Mountain Time) to discuss the quarter's results. The conference call will be carried on the Company's web site.

Conference Call Details
Dial-In Number 210.234.0003
Leader Randy Engel
Password Newmont
Replay Number 203.369.1866

Web Cast Details
URL http://www.newmont.com

The First Quarter 2007 results, related financial and statistical information will be available prior to the conference call in the Investor Information section of the Company's web site, http://www.newmont.com. Additionally, the conference call will be archived for a limited time on the Company's web site.
SOURCE Newmont Mining Corporation

VANCOUVER, BRITISH COLUMBIA, Apr 04, 2007 (MARKET WIRE via COMTEX) -- GOLDCORP INC. (CA:G: news, chart, profile) (GG: goldcorp inc new com) announced today that it has completed the previously announced sale of its Amapari mine in Brazil to Peak Gold Ltd. for 155,000,000 Peak Gold common shares, representing approximately 22% of the outstanding shares of Peak Gold. Goldcorp does not have any present intention to acquire ownership of, or control over, additional securities of Peak Gold. It is the intention of Goldcorp to evaluate its investment in Peak Gold on a continuing basis and such holdings may be increased or decreased in the future.
The previously announced sale of Goldcorp's Peak mine in Australia for $200,000,000 in cash is anticipated to take place following receipt of approval from the Foreign Investment Review Board in Australia. The purchase price for the Peak mine is being held in escrow pending completion of the sale. It is expected that such approval will be obtained within 30 days.
Goldcorp is also pleased to report construction at its Los Filos mine in Guerrero, Mexico has resumed after a road block was lifted that was obstructing the mine's main access road.
The roadblock had been carried out by certain communities and landowner groups requesting renegotiation of existing land purchase and rental agreements. A new agreement is in place, and the Company is re-mobilizing construction contractors and the work force in charge of commissioning the mine. The Company expects the first production of gold from Los Filos during the second quarter of 2007.
Goldcorp is one of the world's lowest-cost and fastest growing multi-million ounce gold producers with operations throughout the Americas.

Big gold producers are finding it tough to replace their reserves. That's why we saw huge mergers last year. Yamana merged with RNC Gold ... Glamis Gold bought Western Silver ... Goldcorp merged with Glamis ... Barrick bought Placer Dome.

DENVER, April 3, 2007 /PRNewswire-FirstCall via COMTEX/ -- ROYAL GOLD, INC. (RGLD: Royal Gold Inc) (CA:RGL) announced today the pricing of an underwritten public offering of 4,000,000 shares of its common stock pursuant to the Company's existing effective shelf registration statement filed on Form S-3. The offering was priced at $29.25 per share, and proceeds to the Company from the offering, net of commission and expenses, are expected to be approximately $110.9 million.
HSBC Securities (USA) Inc. was the sole global coordinator for the offering and acted as joint book runner with Merrill Lynch, Pierce, Fenner & Smith Incorporated. JP Morgan, National Bank Financial, and UBS Investment Bank acted as co-managers. The Company has granted the underwriters an option to purchase up to 600,000 additional shares to cover over-allotments in the offering.
The net proceeds of this offering are intended to repay the outstanding balance under the Company's revolving credit facility with HSBC Bank USA, National Association, to fund the acquisition and financing of additional royalty interests and for general corporate purposes.
A registration statement relating to these securities has been filed with and declared effective by the Securities and Exchange Commission. A final prospectus supplement and related prospectus relating to the offering may be obtained from HSBC Securities (USA) Inc., 452 Fifth Avenue, New York, NY 10018, Attn: Equity Syndicate Desk, and from Merrill Lynch, Pierce, Fenner & Smith Incorporated, 4 World Financial Center, New York, New York 10080, Attn: Prospectus Department.
This communication 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 state in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that state.
Royal Gold is a precious metals royalty company engaging in the acquisition and management of precious metal royalty interests. Royal Gold is publicly traded on the NASDAQ Global Select Market under the symbol "RGLD," and on the Toronto Stock Exchange under the symbol "RGL." The Company's web page is located at http://www.royalgold.com.

RENO, Nev., Apr 05, 2007 (BUSINESS WIRE) -- Meridian Gold Inc. ("Meridian Gold" or the "Company") (CA:MNG: news, chart, profile) (MDG: Meridian Gold Inc) is pleased to announce highlights from the first quarter 2007.
Highlights include:

- Consolidated gold production of 70,900 ounces of gold, which
exceeded the Company's internal budgets, and 1.6 million
ounces of silver.
- Commencement of mining at the Company's Rossi project with
Barrick Exploration.
- Discovery of approximately 90,000 tonnes of additional
mineralized material in the Millenium Zone, or approximately
three months of production at current rates. This discovery
continues to demonstrate the exploration upside shown at
Minera Florida.
- Acquisition of 22 high quality land tenements along the
prospective mineralized trend near the existing Minera
Florida operations.
- Initiation of the expansion program at Minera Florida,
including:
- The approval of the new flotation circuit, which will
increase metal recoveries.
- The approval of the purchase of a second ball mill for
the grinding circuit.
- Further developments at the Company's flagship El Penon mine
in Chile, including:
- At Providencia, the tunnel from Dorada was completed
and the vein was cross-cut.
- At Fortuna, the permits were obtained for mining up to
5,000 tonnes per month of ore.
- Key management changes, including the appointment of
Stabro Kasaneva as the new General Manager.
- The initiation of an operational excellence program
focused on the Six Sigma principles.

Consolidated gold production for the first quarter totaled 70,900 ounces of gold and 1.6 million ounces of silver, which represents a 10% increase in gold production over the Company's internal budgets. The increase was achieved at the Company's El Penon mine, where the team produced 55,600 ounces of gold, a 15% increase over the Company's internal budget and a 10% increase over the fourth quarter 2006 results.
Production commenced during March at the Company's 40% owned Rossi mine, a Joint Venture with Barrick Exploration. To date the mine has produced 1,295 tonnes at an average grade of 13 grams of gold per tonne. The official Mine dedication will be held April 18, 2007, with production ramp-up during the second half of the year. Meridian's share of planned production is estimated at 35,000 ounces of gold per annum.
At Minera Florida, the Company commenced the initial phase of the expansion program to increase the mill capacity from 35,000 tonnes per month to approximately 65,000 tonnes per month, which is expected to increase gold production to more than 100,000 ounces annually. The Company has also approved the purchase and installation of a new flotation circuit designed to increase metal recoveries. When fully operational the new flotation circuit is expected to increase gold recoveries by 2%, and both silver and zinc recoveries by 3% by the end of 2007. During the first quarter the Company also approved the purchase of an additional ball mill for the grinding circuit, consistent with the goal of reaching approximately 65,000 tonnes per month through the processing plant by the end of 2008. At Minera Florida, the Company completed 22 land agreements, further adding to the Company's land position in highly prospective and previously un-explored areas.
Edgar Smith, Meridian's Vice President of Operations, commented, "I am pleased to announce that we have re-hired Stabro Kasaneva as the General Manager of the El Penon Mine. Stabro will be responsible for leading his team in ramping up the mine to 2,800 tonnes per day and implementing the new operational excellence initiatives, which are based on the Six Sigma principles to help achieve these goals. At Minera Florida the discovery of an additional 90,000 tonnes of mineralized material demonstrates the significant potential this operation holds for Meridian's future production. This discovery will provide the operation with greater flexibility and demonstrates the potential exploration upside for the project."
During the first quarter at El Penon, the development towards the Providencia vein achieved a major milestone as the tunnel from the southern end of Quebrada Colorado was completed and the vein was cross-cut. Grades from the cross cut indicate 16 grams per tonne gold and 1,233 grams per tonne silver at 1.35 meters width. The Company is also pleased to report that the mining permits for up to 5,000 tonnes per month were obtained for the Fortuna vein and production has begun. At Fortuna 1,260 tonnes have been mined and stockpiled containing 27 grams per tonne gold and 1,300 grams per tonne silver.
"I am extremely pleased with results achieved during the first quarter, particularly since we anticipate that as El Penon ramps up production to 2,800 tonnes per day, the results for the second half of 2007 should be better than the first half," commented Ed Dowling, Meridian's President and CEO. "These first quarter highlights underpin Meridian's commitment to our four point growth initiative: operational excellence at our operating assets, continued organic growth through exploration, value creating growth from accretive acquisition of quality projects, and the constant improvement of our human and intellectual capital. In closing, I look forward to sharing with our investment community through future releases all of the events happening at Meridian Gold as we work towards creating the Premier Value Gold Mining Company."
Meridian Gold Inc. is a different kind of gold company. The focus is on profitability, and the quality of the ounces produced, not the quantity of ounces produced. The quality of these ounces is measured by the value delivered to all stakeholders during the process; including all shareholders, employees and the communities and environment in which Meridian lives and operates.

Crystallex International (KRY) slipped after the Toronto-based gold miner offered 12.5 million shares in Canada at $3.69 apiece ($4.25 Canadian), with an underwriter's option for about another 1.9 million shares to cover any overallotments. Proceeds will pay for expenses relating to one of its Venezuelan projects, Las Cristinas, as well as for debt repayment and general corporate purposes. Shares were dipping 7 cents, or 1.7%, to $4.03 in recent late trading

Crystallex Files Preliminary Prospectus in Canada for Offering of Common Shares

TORONTO, ONTARIO, Apr 05, 2007 (MARKET WIRE via COMTEX) -- Crystallex International Corporation (CA:KRY: news, chart, profile) (KRY: Crystallex International Corporation) ("Crystallex" or the "Company") announced today that it has filed a preliminary short form prospectus with regulatory authorities in Canada relating to its proposed public offering of 12,500,000 common shares at C$4.25 per share.
The common shares are being offered on a bought deal basis in the provinces of Ontario, Alberta, British Columbia, Manitoba, Nova Scotia and Newfoundland and Labrador and in the United States via a private placement to accredited investors. Crystallex has granted the underwriters an over-allotment option to purchase up to an additional 1,875,000 common shares, exercisable at any time, in whole or in part, for a period of up to 30 days after the closing of the offering, equal to 15% of the total number of common shares sold pursuant to the offering, at the same offering price as set forth above.
Crystallex intends to use the net proceeds from the offering and any exercise of the over-allotment option for the development of, and pre-construction costs and post-permit expenses relating to, the Las Cristinas project, to repay portions of existing indebtedness, and for general working capital purposes.
The offering is subject to normal regulatory approvals. A copy of the preliminary short form prospectus has been filed via SEDAR ( http://www.sedar.com).
These securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or the securities laws of any state of the United States and these securities may not be offered or sold, directly or indirectly, within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) without registration under the U.S. Securities Act and any applicable state securities laws unless an exemption from registration is available. This news release is not an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction.
About Crystallex
Crystallex International Corporation is a Canadian based gold producer with significant operations and exploration properties in Venezuela. The Company's principal asset is the Las Cristinas property in Bolivar State that is currently under development and which is expected to commence commercial gold production in 2009 at an initial annualized rate of some 300,000 ounces at the initial planned production rate of 20,000 tonnes of ore per day. Other key assets include the Tomi Mine, certain Lo Increible properties and the Revemin Mill. Crystallex shares trade on the TSX (symbol: KRY) and AMEX (symbol: KRY) Exchanges.

TORONTO, ONTARIO, Apr 03, 2007 (MARKET WIRE via COMTEX) -- Crystallex International Corporation (CA:KRY: news, chart, profile) (KRY: Crystallex International Corporation) announced today the appointment of William A. Faust as Chief Operating Officer and Senior Vice President, effective April 16, 2007. Mr. Faust will direct the Company's mining operations in Venezuela, including the development, construction and operation of the Las Cristinas gold project located in Bolivar State, Venezuela.
Mr. Faust has over 28 years of engineering and management experience, particularly in open pit mining in Mexico and the Western U.S.
Mr. Faust most recently served as Vice President Operations for Nevada Pacific Gold Ltd., which was acquired by US Gold Corporation in March 2007. Prior to his tenure at Nevada Pacific Gold, he was President of Pan American Silver's Mexican operations, in charge of expanding the La Colorada underground silver mine in Zacatecas. He was also Vice President, Operations from 2001 to 2003 of Corner Bay Silver Inc. prior that company's sale to Pan American Silver Inc. where Mr. Faust was in charge of developing a new open pit silver mine in Sonora, Mexico.
As Vice President Operations of Eldorado Gold Corporation from 1997 to 2001, Mr. Faust was in charge of two operating mines in Mexico and Brazil, with over 700 employees and 14 contractors with 250 employees producing 180,000 ounces of gold annually. He was also involved in project evaluations and feasibility studies at Eldorado Gold. Previously Mr. Faust worked as Manager of Engineering for Santa Fe Pacific Gold Corporation in project evaluation and development roles, after serving as Mine Manager at the Twin Creeks Mine in Nevada. Prior to that, he worked for Gold Fields Mining Company as Mine Operations Manager at the Chimney Creek Mine in Nevada, where he joined the project at the feasibility study stage as Chief Engineer, and saw the mine through construction and commissioning.
Mr. Faust is a Registered Professional Engineer in New Mexico, and holds an MBA Finance, Management from Western New Mexico University, a BS, Mining Engineering from New Mexico Tech, and a BS, Civil Engineering from the University of New Mexico, and is fluent in Spanish.
Commenting on Mr. Faust's appointment Mr. Gordon Thompson, Crystallex President and CEO said, "Bill's experience in building and operating mining projects in Latin America is a strategic match for Crystallex's operations, both existing and planned, in Venezuela. We are very pleased to welcome him to the team."
Crystallex is in the final stages of environmental permitting for the Las Cristinas project.
About Crystallex
Crystallex International Corporation is a Canadian based gold producer with significant operations and exploration properties in Venezuela. The Company's principal asset is the Las Cristinas property in Bolivar State that is currently under development and which is expected to commence commercial gold production in 2009 at an initial annualized rate of some 300,000 ounces at the initial planned production rate of 20,000 tonnes of ore per day. Other key assets include the Tomi Mine, certain Lo Increible properties and the Revemin Mill. Crystallex shares trade on the TSX (symbol:KRY) and AMEX (symbol:KRY) Exchanges.

Apr 03, 2007 (Dow Jones Commodities News via Comtex) -- DOW JONES NEWSWIRES
Crystallex International Corp. (KRY) has named William A. Faust as chief operating officer and senior vice-president, effective April 16.
The Toronto mining company said Faust will direct its mining operations in Venezuela, including the development, construction and operation of the Las Cristinas gold project.
Gordon Thompson, the company's chief executive, said Faust's position is a new one.
Faust most recently served as vice-president Operations for Nevada Pacific Gold Ltd., which was acquired by U.S. Gold Corp. (UXG) in March.

Wide Zones of Silver, Zinc Mineralization

TORONTO, ONTARIO, Mar 28, 2007 (MARKET WIRE via COMTEX) -- Apogee Minerals Ltd. (CA:APE: news, chart, profile) has intercepted wide zones of significant silver-lead-zinc mineralization in recent drillholes to evaluate the near-surface, Upper Tajo Vein System (UTVS) at the historic Pulacayo Silver project. The drillholes are located approximately 4 km from the company's Paca Open Pit Resource (see Press Release dated February 19, 2007).
Apogee Vice President Exploration, Doug Currie stated: "These results confirm the potential to define zones of significant silver, zinc, and lead mineralization substantially wider than the high-grade lode structures historically mined underground at Pulacayo. With mineralization beginning at surface in some areas, this bodes well for the definition of an open pittable mineral resource. The proximity of this mineralization to the Paca Open Pit Resource also adds the possibility of impacting potential efficiencies and being complementary to any potential development scenarios at Paca. Further drilling will be completed during Q2-2007 to enable a 43-101 Resource Estimate in 2007."
A mineralized zone extending at least 800m in strike length has been defined by surface diamond drilling within the brecciated and stockworked upper oxidized portion of the high grade, lode-style Tajo Vein System. The Pulacayo Mine was historically mined between 1883 and 1959 to a depth of over 1000m. It produced over 600 million ounces of silver with head grade averaging 30 oz/tonne, in addition to 180,000 tonnes each of lead and zinc.

COEUR D'ALENE, Idaho, Mar 26, 2007 (BUSINESS WIRE) -- Coeur d'Alene Mines Corporation (CDE: Coeur d'Alene Mines Corporation) (CA:CDM) announced today that it plans to nominate Sebastian Edwards, 53, to stand for election to the company's board of directors at the annual meeting of its stockholders on May 8, 2007.
Mr. Edwards is Henry Ford II Professor of International Business Economics at the Anderson Graduate School of Management at the University of California, Los Angeles (UCLA). He has more than 30 years of varied experience in international finance and economics. In addition to his professorship at UCLA, he is Chairman of the Inter American Seminar on Economics; is a member of the Scientific Advisory Council of the Kiel Institute of World Economics in Germany; and is a research associate at the National Bureau of Economic Research. He is the author of numerous books and articles and regularly speaks before groups interested in world economic affairs.
Mr. Edwards previously served as Chief Economist for the World Bank for the Latin America and Caribbean Region and as President of the Latin American and Caribbean Economic Association. He also previously taught at IAE Universidad Austral in Argentina and at the Kiel Institute.
A native of Santiago, Chile, Mr. Edwards holds Ph.D and M.A. degrees in Economics from the University of Chicago and completed his undergraduate work at the Universidad Catolica in Chile.
Dennis E. Wheeler, Coeur's Chairman, President, and Chief Executive Officer, said, "With the depth and breadth of his international experience and his particular focus on South America -- where Coeur has three major investments -- we believe Sebastian will provide an added dimension to our board. We look forward to working with him and appreciate his decision to join the board."
Coeur d'Alene Mines Corporation is one of the world's leading primary silver producers and has a strong presence in gold. The company has mining interests in Alaska, Argentina, Australia, Bolivia, Chile, Nevada and Tanzania.

On March 20, James Hesketh, President and CEO of Canyon Resources Corp. (CAU: canyon resources corp com new) updated the investment community in an all-new interview with http://www.wallst.net . Interview highlights include detailed discussions on the following topics:

-- recently announced extensions to the mineralization at the Briggs Mine
in California
-- current development of the Reward Project in Nevada
-- the company's other Nevada properties
-- reasons the company has a competitive advantage
-- reviving the Seven-Up Pete Gold Project in Montana
-- the company's uranium joint venture in Wyoming
-- upcoming milestones for investors to watch for

To hear the interview in its entirety, visit
http://wallst.net/audio/audio.asp?symbol=CAU&id=3169

Editors are advised that a high-resolution photo is available to accompany the news release, DCTH026, 15 Montana Students to Get Close Up Civics Lesson, issued Mar 30, 2007 /PRNewswire via COMTEX/ -- Editors are advised that a high-resolution photo is available to accompany the news release, DCTH026, 15 Montana Students to Get Close Up Civics Lesson, issued March 22 by Norilsk Nickel.
Caption: U.S. Sen. Max Baucus (D-Montana) talks with children of Stillwater Mining Company employees in Washington, D.C. They were among 15 high school students participating in a Close Up Foundation program this week. The program was sponsored by Norilsk Nickel, which made a majority investment in Stillwater almost four years ago. From left to right, Hannah Gertiser from Park Senior High; Aubrey Carter from Absarokee High; and Cameron Ruttenbur from Laurel High.
Members of the media may download the photo at no charge from the following online archives:
-- NewsCom: http://www.newscom.com/cgi-bin/prnh/20070330/DCTH026A
-- AP Archive Topic Gallery: http://photoarchive.ap.org
For more information on the photo, or on gaining access to the archives, media may contact the PR Newswire Photo Desk at +1-888-776-6555 or +1-212-782-2840.
SOURCE Norilsk Nickel

DALLAS, Mar 26, 2007 (PrimeNewswire via COMTEX) -- John Pentony, Publisher of StockGuru.com, announced today that the web site has initiated Profile Coverage of General Metals Corporation (GNLM: general metals corp com) . General Metals is a junior mineral resource exploration company engaged in the acquisition, mining and exploration of gold, silver and other precious metal properties. It controls 100% of the Wilson-Independence mine, which sits as an island in Newmont Mining Corporation's Phoenix mine in the Battle Mountain- Cortez gold belt of Northern, Nevada. The Phoenix mine property has 8.5 million ounces of gold and 660 million pounds of copper in reserves. Newmont is currently spending in excess of $3.0 billion to develop this mine into the largest operating gold mine in the United States.
To view the StockGuru.com Profile for General Metals Corporation, please visit:
http://www.stockguru.com/profiles/gnlm
About StockGuru.com
StockGuru.com features daily alerts going out three times daily to members. To join our email alert list, please visit:
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Turning to the miners, HSBC Securities dinged shares of Newmont Mining (NEM) to a neutral rating from overweight and slashed the stock price target to $47 a share from $62.

ACCRA, Ghana, Mar 28, 2007 (Dow Jones Commodities News via Comtex) -- Newmont Mining Corp.'s (NEM) Ahafo Mine in Ghana is expected to generate total revenues of over $250 million from the sales of its gold, based on an assumed average realized price of at least $600 a troy ounce, a company official said Wednesday.
However, startup costs and a power crisis in Ghana are affecting the mine's financial situation, the official added.
Newmont's External Relations Director, Chris Anderson, told Dow Jones Newswires that about two-thirds of Ahafo's 2007 operating costs would be spent directly in Ghana in the form of payments to employees and contractors, locally sourced goods and services.
Others expenditures are consumables, such as fuel and energy and royalties paid to the government. "This means we are making no money for now," he said, but quickly added that "it's not abnormal" for a start-up project such as Ahafo.
Anderson said a power crisis that has been running since last August has worsened the financial situation because the company currently uses diesel generators to power its operations. "The cost of running the generators is four times higher," he added.
Newmont said by the end of 2007, it would have invested over $665 million on the Ahafo project.
"These expenditures mean that over 50 percent of total revenues from mine operations will stay in Ghana. The remainder of Ahafo's 2007 revenues are expected to be allocated to capital investment, interest expenses and exploration," Anderson said.
He said over two-thirds of Newmont's cumulative investment in Ghana has been spent on the construction of the Ahafo project, with the remaining spent on startup and production-related expenditures.
Additionally, in 2007, the company anticipated spending over $8 million on social and environmental projects, including funds allocated to the programs to help the local economy, as well as environmental management, monitoring and restoration programs.

For U.S. companies, I used MSN Money's StockScouter tool to get a read on a stock's prospects during that time period. Turns out there are six U.S. stocks with StockScouter ratings of 10 -- the top of the Scouter scale -- among the 94 in the Booz Allen list. They are Apple (AAPL), Caterpillar (CAT), MEMC Electronic Materials (WFR), Newmont Mining (NEM), Smith International (SII) and Weatherford International (WFT). I added all these to new R&D winners portfolio.

Newmont Sees Ghana Ahafo Mine Total Revs $250M -Co Official
ACCRA, Ghana (Dow Jones)--Newmont Mining Corp.'s (NEM) Ahafo Mine in Ghana is expected to generate total revenues of over $250 million from the sales of its gold, based on an assumed average realized price of at least $600 a troy ounce, a company official said Wednesday.

Jakarta's Newmont Suit Risks Investment Fallout
International business groups here say Indonesia's efforts to attract investment could suffer another blow if a district court next week finds a local unit of Newmont Mining Corp. and its American chief guilty of pollution charges.