VANCOUVER, BRITISH COLUMBIA, Feb 22, 2008 (MARKET WIRE via COMTEX) -- (all figures in United States dollars)
Paul N. Wright, President and Chief Executive Officer of Eldorado Gold Corporation (CA:ELD) (EGO: eldorado gold corp new com) ("Eldorado" the "Company" or "we"), is pleased to announce the Company's Mineral Resources and Mineral Reserves as of December 31, 2007 (Tables 1 and 2). Gold resource ounces in all categories increased by 33% and proven and probable reserve ounces increased by 13%. These increases are a direct result of our successful drill campaigns at our Turkish projects of Kisladag and Efemcukuru. In addition, iron ore reserves at the Vila Nova Iron Ore Project increased by 73%.
"We are extremely pleased with the results from our 2007 Drill Programme. The increase in both Reserves and Resources at the Kisladag Mine combined with clear indications of the potential to increase further are very significant. These changes will result in a critical review of the potential to further increase production rates at the Kisladag Mine consistent with the growing resource and higher metal prices," commented Paul N. Wright, President and Chief Executive Officer.
Beiträge von GSP-Komet
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VANCOUVER, BRITISH COLUMBIA, Feb 21, 2008 (MARKET WIRE via COMTEX) -- Eldorado Gold Corporation (CA:ELD) (EGO: eldorado gold corp new com) will release its 2007 Financial Results before markets open on Thursday, March 27, 2008. Following the release, Paul N. Wright, President and Chief Executive Officer, of the Company will host a conference call at 8:30 AM PT (11:30 AM ET) on March 27, 2008.
The call is being webcast by Thomson Financial and can be accessed at Eldorado Gold's web site at http://www.eldoradogold.com or from http://www.marketwire.com.
Teleconference call details are as follows:
Calls in numbers are:
Toronto: 416-641-6127
Toll Free: 1-866-226-1799
Chairperson: Paul Wright, President & CEO
The replay numbers are:
Toronto: 416-695-5800
Toll Free: 1-800-408-3053
Pass code: 3253164#
Replay will be available until April 3, 2008.
Eldorado Gold Corporation is a gold producing and exploration company actively growing businesses in Brazil, Turkey and China. With our international expertise in mining, finance and project development, together with highly skilled and dedicated staff, we believe that Eldorado is well positioned to grow in value as we create and pursue new opportunities.
Request for information packages: info@eldoradogold.comContacts:
Eldorado Gold Corporation
Nancy E. Woo
Manager Investor Relations
(604) 601-6650 or 1-888-353-8166
(604) 687-4026 (FAX)
Email: nancyw@eldoradogold.com
Website: http://www.eldoradogold.comSOURCE: Eldorado Gold Corporation
mailto:nancyw@eldoradogold.com
http://www.eldoradogold.com -
LOS ANGELES, CA, Feb 22, 2008 (MARKET WIRE via COMTEX) -- MoneyTV is the nationally syndicated television program all about money and what makes it happen, ( http://www.moneytv.net), featuring informative interviews by hosts Donald Baillargeon and Skip Lindeman with company CEOs, providing insights into their operations and outlooks for their futures.
Free information packages from the featured companies can be requested by sending an email to info@moneytv.net.
The television program can also be viewed online immediately at http://www.moneytv.net.
Featured companies on this week's program include:...
Apollo Gold Corporation (AGT: apollo gold corp com) CEO R. David Russell announced the commencement of drilling in Mexico. -
MONTREAL, QUEBEC, Feb 19, 2008 (MARKET WIRE via COMTEX) -- Cadiscor Resources Inc. (CA:CAO) (FRANKFURT: DQN) ("Cadiscor") is pleased to announce the first results from underground exploration drilling at the Sleeping Giant Mine, ("Mine") on which it has an option to acquire a 100% interest from IAMGOLD Corporation ("IAMGOLD"). In December 2007, Cadiscor started a 9,000-meter underground exploration program to test the continuity of the gold zones at depth, below the deepest mining level (-975 meters).
These results are highly significant as they confirm the presence of the gold zones down to 445 meters below the current mine workings, with grades that are similar to the grades in the mine. Drilling will continue until the end of Q2 2008. The results will then be evaluated to consider the feasibility of extending the mine shaft.
The Sleeping Giant Mine entered production in 1988. The mine has since been deepened twice to follow the gold zones. The main mine production zones are, in order of importance, Zones #30, 8, 20, 3 and 18. Three underground drill rigs are testing the next 400 meters of Zones #8, 30 and 18 below the deepest mining level.
The mine's gold zones are narrow quartz veins that are mainly mined by shrinkage stoping. Typically, mine planning uses a minimum width of 1.6 orthogonal meters. Results from the immediate extension of the mined zones or areas where geological control is sufficient to determine the gold zone attitude with confidence, are reported using this minimum 1.6 orthogonal meters width. Results from areas where the gold zone attitude can not be determined with confidence are reported using the core length. -
VANCOUVER, BRITISH COLUMBIA, Feb 21, 2008 (MARKET WIRE via COMTEX) -- Almaden Minerals Ltd. (CA:AMM) (AAU:
almaden minerals ltd com) ("Almaden", "the Company") is pleased to announce that Apex Silver Mines Ltd. ("Apex Silver") has commenced a diamond drilling program on Almaden's wholly owned Viky silver lead zinc project located in western Coahuila State, Mexico. Under the terms of a February, 2007 option agreement between the companies, Apex Silver can earn a 60% interest in the property by making expenditures totaling US$5.6 Million and cash payments of $US1.35 Million over 5 years from the date of signing. J. Duane Poliquin, chairman and CEO of Almaden commented, "We are very pleased to have Apex Silver drilling our Viky project, one of the most exciting in our portfolio and we look forward to the results of this program."
Almaden has received a 43-101 compliant technical report from Apex Silver outlining the first year of work and its plans for the current drill program. The drilling program will consist of a minimum of 2,000 meters designed to target IP chargeability and resistivity responses at depth and significant silver, lead and zinc values in rock chip and soil samples taken at surface. Further holes have been laid out contingent on results of the first phase of drilling.
During 2007 Apex Silver took 363 samples, mostly of rock from outcrop and float, and alluvium. Of these 71 were rock channel samples taken over an average width of 2.21 meters (ranging from 0.4 to 7 meters), the analyses of which returned an average of 9.4 g/t silver (ranging from less than 0.2 to 153 g/t silver), 0.42% lead (ranging from less than 0.0002 to 11.4 % lead) and 0.38% zinc (ranging from less than 0.0002 to 5.79 % zinc). In addition 195 rock-chip samples were taken over an average width of 2.90 meters (ranging from 0.4 to 11.6 meters), the analyses of which returned an average of 16.5 g/t silver (ranging from less than 0.2 to 776 g/t silver), 1.22% lead (ranging from less than 0.0002 to 30.00% lead) and 0.53% zinc (ranging from less than 0.0002 to 14.35% zinc). These significant results, along with the geophysical survey results from the past work carried by Almaden, are interpreted by Almaden to be indicative of a high potential mineralized environment which is presently being drill tested.
The 2007 Apex Silver work program was reviewed by Mr. Bob Blakestad, Vice President of Exploration for Apex Silver and a qualified person under the meaning of National Instrument 43-101. Apex Silver employed a quality control program which included the analysis of duplicates samples of coarse reject material at a separate laboratory. The samples were analysed at ALS Chemex labs of Vancouver, BC using industry standard fire assay, atomic absorption, aqua regia and ICP methodologies.
About Almaden
Almaden is a mineral exploration and development company with a track record of making new discoveries in Canada and Mexico. Almaden currently has an interest in 22 properties that are under active exploration. Almaden will continue with its successful business model of identifying new projects through grass roots exploration and managing risk by forming joint ventures with partner companies which then carry the cost of exploring and developing our projects. Almaden's grass roots exploration programs are designed to identify new mineral exploration projects in mineral terrains geologically permissive for world-class ore deposits. Almaden is seeking partners with the suitable business and geological resources to explore and assess the potential of these projects through drilling.
On Behalf of the Board of Directors
Morgan J. Poliquin, M.Sc., P.Eng.
Statements contained in this news release that are not historical facts are forward looking statements as that term is defined in the private securities litigation reform act of 1995. Such forward -looking statements are subject to risks and uncertainties which could cause actual results to differ materially from estimated results. Such risks and uncertainties are detailed in the Company's filing with the Securities and Exchange Commission.
The Toronto Stock Exchange and American Stock Exchanges have not reviewed nor accepted responsibility for the adequacy or accuracy of the contents of this news release which has been prepared by management.Contacts:
Almaden Minerals Ltd.
Morgan J. Poliquin, M.Sc., P.Eng.
President
(604) 689-7644
(604) 689-7645 (FAX)
Website: http://www.almadenminerals.comSOURCE: Almaden Minerals Ltd.
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Emerges as an Unhedged Multi-Mine Gold Producer TSX NGX AMEX NXG
VANCOUVER, Feb 18, 2008 /PRNewswire-FirstCall via COMTEX/ -- Northgate Minerals Corporation (CA:NGX) (NXG: Northgate Exploration Limited) is pleased to announce the successful completion of its acquisition for Perseverance Corporation Ltd. ("Perseverance"), which was originally announced on October 29, 2007 and subsequently approved by Perseverance securityholders in three separate Schemes of Arrangement.
Ken Stowe, President and CEO, commented, "After a lengthy process, we are extremely pleased to announce the completion of this transaction, which marks an important milestone for Northgate. Our targeted objective has been significant production growth in stable jurisdictions and the Perseverance transaction is exactly that. We are now an unhedged, multi-mine gold producer with three fully permitted operations in Canada and Australia, with combined production of over 400,000 ounces of gold expected in 2008. We are in an excellent position to further our growth through the development and exploration at our existing operations and projects while continuing to evaluate additional acquisition opportunities."
Northgate will include the results of its newly acquired Australian operations in its consolidated financial results for the period ending March 31, 2008. The company also plans to update its previously released 2008 production guidance to include the Fosterville and Stawell mines acquired in the transaction.
NORTHGATE MINERALS CORPORATION is a mid-tier gold and copper producer with mining operations, development projects and exploration properties in Canada and Australia. The company is forecasting over 400,000 ounces of unhedged gold production in 2008 and is targeting steady production growth through further acquisition opportunities in stable mining jurisdictions around the world. Northgate is listed on the Toronto Stock Exchange under the symbol NGX and on the American Stock Exchange under the symbol NXG. -
DENVER, Feb 22, 2008 /PRNewswire-FirstCall via COMTEX/ -- ROYAL GOLD, INC. (RGLD: Royal Gold Inc) (CA:RGL) , the leading precious metals royalty company, today announced that it has completed the acquisition of three royalties from AngloGold Ashanti (USA) Exploration Inc., a wholly-owned subsidiary of AngloGold Ashanti North America, for $13.75 million, previously disclosed in January 2008. The acquisition includes three royalties: 1) a 2.0% net smelter return ("NSR") royalty on the Marigold mine, located on the Battle Mountain- Eureka trend in Nevada, and operated by Goldcorp, Inc., 2) a 2.0-4.0% sliding- scale NSR royalty on the El Chanate mine, located in Sonora, Mexico and operated by Capital Gold, Inc., and 3) a 10.0% net profits interest ("NPI") royalty, also on the El Chanate mine.
"This acquisition continues to build our gold royalty portfolio, which at the end of our second fiscal quarter comprised 82% of our royalty revenues, and further diversifies our asset base," said Tony Jensen, President and Chief Executive Officer. "We now own 19 active royalties of which 13 are currently in production, and six are in development."
The sliding-scale royalty at El Chanate pays at a rate of 2.0% when the average gold price is below $300 per ounce, 3.0% when the gold price is between $300 and $350, and 4.0% when the gold price is above $350 per ounce. The sliding-scale royalty is capped once payments of approximately $17 million have been received and the 10.0% NPI royalty is capped at $1.0 million. The El Chanate mine commenced production in mid-2007, and Royal Gold expects to begin receiving royalty revenue immediately.
The 2.0% NSR royalty interest on Marigold burdens the majority of five sections of the mine, containing a number of open pits, but does not cover the current mining in the Basalt/Antler area. Approximately 38% of the current Marigold mine reserves are covered by this royalty. Based upon its own internal estimates, Royal Gold expects to begin receiving royalty revenue in calendar 2010, when mine operations are expected to move into areas covered by the 2.0% NSR royalty.
Royal Gold is a precious metals royalty company engaged 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. -
VANCOUVER, BRITISH COLUMBIA, Feb 22, 2008 (MARKET WIRE via COMTEX) -- Silver Standard Resources Inc. ("Silver Standard") (CA:SSO) (SSRI: silver std res inc com) announced today the pricing of its previously announced offering of US$120 million (US$138 million if the overallotment option granted to the initial purchasers is exercised in full) aggregate principal amount of senior unsecured convertible notes due March 1, 2028 (the "Convertible Notes") made pursuant to private placement exemptions. The Convertible Notes are being offered and sold at a price of 100% of their face value and will bear interest at a rate of 4.5% per year. Silver Standard expects to receive net proceeds of approximately US$115.6 million (or approximately US$133.1 million if the overallotment option is exercised in full) from the offering of Convertible Notes, after payment of the commissions to the initial purchasers and expenses of the offering.
Silver Standard intends to use part of the net proceeds of the offering to finance a portion of the development costs of its Pirquitas Project and to use the balance of the net proceeds for the exploration of its other properties, for working capital and for general corporate purposes.
The Convertible Notes will be convertible into Silver Standard common shares at a fixed conversion rate, subject to certain anti-dilution adjustments, upon specified events. On conversion, holders of the Convertible Notes will receive cash and, if applicable, common shares (or, at Silver Standard's election, in lieu of such common shares, cash or any combination of cash and common shares). In addition, if certain fundamental changes to Silver Standard occur, holders of the Convertible Notes may be entitled to an increased conversion rate. The Convertible Notes will be convertible into Silver Standard common shares at an initial conversion rate of 23.0792 common shares per US$1,000 principal amount of Convertible Notes converted, representing an initial conversion price of approximately US$43.33 per common share, which is approximately 130% of the closing price of Silver Standard's common shares on the Nasdaq Global Market on February 21, 2008. The offering of Convertible Notes is expected to close on February 27, 2008, subject to receipt of any required regulatory approvals and the satisfaction of customary closing conditions.
Holders of the Convertible Notes will have the right to require Silver Standard to repurchase all or part of their Convertible Notes on March 1 of each of 2013, 2018 and 2023, and upon certain fundamental corporate changes. The repurchase price will be equal to 100% of the principal amount of the Convertible Notes being converted, plus accrued and unpaid interest to, but excluding, the repurchase date. Silver Standard shall pay the purchase price in cash. On and after March 5, 2013, Silver Standard may redeem all or part of the Convertible Notes for cash at a redemption price equal to 100% of the principal amount of the Convertible Notes being redeemed, plus accrued and unpaid interest to, but excluding, the redemption date.
The offering is being made pursuant to Rule 144A and Regulation S under the Securities Act of 1933 (the "Act"). The offering has not been and will not be registered under the Act, and none of the Convertible Notes or any Silver Standard common shares issuable upon any conversion of the Convertible Notes may be offered or sold in the United States absent registration under the Act or the availability of an applicable exemption from registration requirements. Offers and sales in Canada will be made only pursuant to exemptions from the prospectus requirements of applicable Canadian provincial or territorial securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security.
To receive Silver Standard's news releases by e-mail, contact Paul LaFontaine, director, investor relations at invest@silverstandard.com or call (888) 338-0046. -
VANCOUVER, BRITISH COLUMBIA, Feb 20, 2008 (MARKET WIRE via COMTEX) -- Silver Standard Resources Inc. ("Silver Standard") (CA:SSO) (SSRI: silver std res inc com) announced today a proposed offering of approximately US$120 million aggregate principal amount of senior unsecured convertible notes due February 2028 (the "Convertible Notes") pursuant to private placement exemptions. Silver Standard expects to grant the initial purchasers in the offering a 30-day option to purchase up to an additional US$18 million principal amount of Convertible Notes.
The final terms of the offering have not been determined. Silver Standard currently expects that the Convertible Notes will be redeemable by Silver Standard in five years and convertible into Silver Standard common shares at a fixed conversion rate reflecting an effective conversion price higher than the closing share price on the day the offering is priced, and that any conversion right will be contingent on Silver Standard's common shares trading at a premium to that effective conversion price or upon the occurrence of certain other specified conversion events.
Silver Standard expects that the terms of the Convertible Notes will provide that, upon conversion, the holders of the Convertible Notes will receive cash and, if applicable, common shares (or, at Silver Standard's election, in lieu of such common shares, cash or any combination of cash and common shares). The offering of Convertible Notes is expected to close, subject to market conditions and satisfaction of closing requirements and the receipt of any required regulatory approvals, on or about February 26, 2008.
Silver Standard intends to use part of the expected net proceeds of the offering to finance a portion of the development costs of its Pirquitas Project, and expects to use the balance of the net proceeds for the exploration of its other properties, for working capital and for general corporate purposes.
The offering is to be made pursuant to Rule 144A and Regulation S under the Securities Act of 1933 (the "Act"). The offering has not been and will not be registered under the Act, and none of the Convertible Notes or any Silver Standard common shares issuable upon any conversion of the Convertible Notes may be offered or sold in the United States absent registration under the Act or the availability of an applicable exemption from registration requirements. Offers and sales in Canada will be made only pursuant to exemptions from the prospectus requirements of applicable Canadian provincial or territorial securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security.
To receive Silver Standard's news releases by e-mail, contact Paul LaFontaine, director, investor relations at invest@silverstandard.com or call (888) 338-0046. -
Feb 20, 2008 (Dow Jones Commodities News via Comtex) -- DOW JONES NEWSWIRES
Silver Standard Resources Inc. (SSRI) plans to offer about $120 million principal amount of senior unsecured convertible notes due February 2028 pursuant to private placement exemptions.
The Vancouver silver company said it will grant the initial purchasers a 30-day option to purchase up to an additional $18 million of convertible notes.
The company expects the offering to close by Feb. 26.
Final terms haven't been determined, but Silver Standard said it expects that the notes will be redeemable in five years.
The company plans to use the net proceeds of the offering to finance a portion of its development costs of its Pirquitas project in Argentina. -
TORONTO, ONTARIO, Feb 11, 2008 (MARKET WIRE via COMTEX) -- Crystallex International Corporation (CA:KRY) (KRY: KRY) ("Crystallex" or the "Company") announced today that it has completed its previously announced offering of 32,890,000 units at C$2.10 per unit for gross proceeds of C$69,069,000, including 4,290,000 units issuable upon the exercise of the over-allotment option by the syndicate of underwriters.
Crystallex plans to use the net proceeds from the financing to develop the Las Cristinas Project, for debt service and for general corporate purposes.
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.Contacts:
Crystallex International Corporation
Richard Marshall
VP
1-800-738-1577
Email: info@crystallex.comSOURCE: Crystallex International Corporation
mailto:info@crystallex.com
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AngloGold Ashanti Ltd. (NYSE:AU) A gold stock on the 52-week lows? Power issues prevail over high commodity prices... ouch!
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VANCOUVER, Feb 14, 2008 /PRNewswire-FirstCall via COMTEX/ -- Northgate Minerals Corporation (CA:NGXe) (NXG: NXG) announced today that it has reached a tentative agreement on a new three-year collective agreement with the International Union of Operating Engineers Local 115 (the "Union"), representing the 300 production and maintenance employees at its Kemess South mine. The Union's bargaining committee will be unanimously recommending ratification of the tentative agreement to its membership. Voting on the agreement will take place over the next two weeks.
Ken Stowe, President and CEO, commented, "We are pleased that a tentative agreement has been reached following extensive discussions over the past several months and I would like to commend the two negotiating teams for their tireless efforts throughout this lengthy process."
NORTHGATE MINERALS CORPORATION is a gold and copper mining company focused on operations and opportunities in the Americas and Australia. The Corporation's principal assets are the Kemess South mine in north-central British Columbia and the Young-Davidson property in northern Ontario. With the proposed acquisition of Perseverance Corporation Limited, the addition of two operating mines will create a leading multi-mine, mid-tier gold producer, with over 400,000 ounces of gold production in 2008. Northgate is listed on the Toronto Stock Exchange under the symbol NGX and on the American Stock Exchange under the symbol NXG. -
TEL AVIV (MarketWatch) -- North American Palladium Ltd., (PAL:
PAL) (CA:PDL: CA:PDL) Toronto, said that through an underwriting agreement, it will sell 14 million units at US$4, about C$4.04, each. Each unit consists of one common share and half a warrant. Each whole warrant entitles the holder to buy one common share of North American Palladium at US$5.05 for two years after the offering closes, which PAL expects on Dec. 13. The company said Kaiser-Francis Oil Co. of Tulsa, Okla., and IP Synergy Finance Inc. each has the right to buy as much as 12.5% of the offering. Merrill Lynch led the underwriting syndicate. End of Story -
VANCOUVER, BRITISH COLUMBIA, Feb 15, 2008 (MARKET WIRE via COMTEX) -- Fronteer Development Group Inc. ("Fronteer" or the "Company") (CA:FRG) (FRG: FRG) is pleased to announce drilling has extended oxide gold mineralization at Long Canyon, further defining Nevada's newest gold trend.
Additional diamond holes from Long Canyon's 2007 Phase 2 drill program have intersected significant gold grades and extended high-grade mineralization to the northeast.
"Long Canyon represents an outstanding platform for growth through discovery and is a key exploration focus among our portfolio of Nevada gold projects for 2008," says Fronteer President and CEO Dr. Mark O'Dea.
Highlights from two holes include:
- 0.09 ounces per ton gold (3.14 grams per tonne) over 107 feet (32.6m) in hole LC066C
- 0.12 ounces per ton gold (4.11 grams per tonne) over 90 feet (27.4 m) in hole LC067C
These two holes were drilled approximately 80 metres to the northeast of hole LC063C, which intersected 0.88 ounces per ton gold (30.10 grams per tonne) over a true thickness of 23 feet (7.0 metres), within a broader zone that returned 0.39 ounces per ton gold (13.40 grams per tonne) over a true thickness of 75 feet (22.9 metres) - see press release 08-01, Jan 7, 2008.
A third hole, LC065C, returned 0.02 ounces per ton gold (0.72 grams per tonne) over 5 feet (1.5 metres).
Fronteer's 2008 exploration program will both extend and further define Long Canyon's high-grade mineralization, with the goal of producing the project's first resource estimate by year-end. Long Canyon's aggressive US$3M exploration program will include 16,000 metres of drilling, as well as additional geophysical surveys and district-scale exploration. Drilling will test the northeast, southwest and depth extensions of the Main Zone, the West Zone, and additional targets within the project's 6,500-hectare area.
Long Canyon shows near-surface mineralization similar to famous Carlin-style gold deposits. Gold mineralization is strongly oxidized, and occurs in stratabound zones and fault and collapse breccias, hosted in a sequence of lower Paleozoic shelf carbonates. -
TORONTO, ONTARIO, Feb 12, 2008 (MARKET WIRE via COMTEX) -- IAMGOLD Corporation ("IAMGOLD" or "the Company") (CA:IMG) (IAG: IAG) (BOTSWANA: IAMGOLD) will release year end financial results before the market opens on Friday, March 28, 2008.
A conference call will be held on Friday, March 28, 2008 at 11:00 a.m. (EST) to discuss these results. A webcast of the conference call will be available through the Company's website - http://www.iamgold.com.
Conference Call Information:
North America Toll-Free: 1-800-733-7571 or 416-644-3414
A replay of this conference call will be available from 1:00 p.m. March 28 to April 4, 2008. Access this replay by dialing:
North America toll-free: 1-877-289-8525 or 416-640-1917, passcode: 21260861#
A replay will also be available on IAMGOLD's website.
Please note:
This entire press release may be accessed via fax, e-mail, IAMGOLD's website at http://www.iamgold.com and through Marketwire's website at http://www.marketwire.com. All material information on IAMGOLD can be found at http://www.sedar.com or at http://www.sec.gov.
Si vous desirez obtenir la version francaise de ce communique, veuillez consulter le http://www.iamgold.com/fr/accueil.html.Contacts:
IAMGOLD Corporation
Lisa Doddridge
Director, Investor Relations
(416) 360-4710 or Toll Free: 1-888-IMG-9999
Website: http://www.iamgold.com -
JOHANNESBURG, Feb 15, 2008 (Dow Jones Commodities News via Comtex) -- Harmony Gold Mining Co.'s (HMY) production in the third quarter of its financial year will be reduced by power shortages in South Africa, although its Elandsrand mine will at the same time return to full output, Chief Executive Graham Briggs said Friday.
Briggs said a four-day halt to operations across South Africa in late January after the country's state-owned power company couldn't ensure electricity supplies probably resulted in the loss of about 800 kilograms of gold output.
Johannesburg-based Harmony produced 12,403 kilograms in the three months to Dec. 31, down from13,523 kilograms in the first quarter. Its Elandsrand mine suspended operations for 44 days after an accident in early October in which the main shaft was damaged and about 3,200 workers were temporally trapped deep underground.
Power company Eskom Holdings Ltd. has since the start of February restricted mines and other large power consumers to 90% of the usual electricity requirements, and Harmony said that while the effect of the interruption and the decreased power supply hasn't been quantified it "will impact on the gold production."
Company Web Site: http://www.harmony.co.za -
VANCOUVER, BRITISH COLUMBIA, Feb 14, 2008 (MARKET WIRE via COMTEX) -- Minefinders Corporation Ltd. (the "Company") (CA:MFL) (MFN:
MFN ) today reported an updated economic forecast and independently prepared reserve estimate for its Dolores gold and silver mine in Chihuahua, Mexico.
"Perhaps the most important finding of the new study, given the global environment of cost escalation, is that the economics for the Dolores Mine remain robust," said Mark Bailey, Minefinders' President and CEO. "Looking ahead, there is significant upside potential from optimization efforts currently underway, with results expected later this year."
Update Highlights (all dollar amounts are in US$)
- Proven and probable reserves have increased 37% from the February 2006 Dolores feasibility study (the "2006 feasibility study") to 99.3 million tonnes containing 2.44 million ounces of gold and 126.64 million ounces of silver, increases of 24.8% and 22.1% respectively;
- Life of mine production has increased to 1,765,606 ounces of gold and 64,354,508 ounces of silver or 3,005,027 ounces of gold and gold-equivalent silver ("gold equivalent ounces") at base case prices;
- Life of mine average cash operating costs are estimated at $297 per gold equivalent ounce and $32 per gold ounce, net of silver by-product credits;
- Pre-tax internal rate of return ("IRR") is estimated at 26%, with a pre-tax net present value ("NPV") of $831 million discounted at 0% and a pre-tax NPV of $563 million discounted at 3%, inclusive of capital expenditures to date; and
- Initial capital costs, including a $10 million contingency, of $192 million, of which $141 million has been spent as at December 31, 2007. Sustaining capital costs are estimated at $50 million with net cash flow from operations of $1.1 billion over the life of the mine.
An independently prepared report, compliant with Canada's National Instrument 43-101 ("NI 43-101") standard for mineral disclosure, will be filed on SEDAR shortly, providing details of the updated reserve and economic model. -
DENVER, Feb 15, 2008 (BUSINESS WIRE) -- Apollo Gold Corporation ("Apollo" or the "Company") (CA:APG) (AGT: AGT) is pleased to announce that the Company has commenced a 30 to 40 hole core drilling program at its Huizopa project on a target known as Puma de Oro.
The Huizopa project is located in the Sierra Madres in the State of Chihuahua, between Alamos Gold's Mulatos Mine and Minefinder's Dolores project. Apollo's property package consists of 170 sq. km and to date the Company has conducted aerial surveys, mapping, geochemical sampling and geophysical surveys which identified three primary geological drill targets, one of which is Puma de Oro.
Senior Vice President Exploration and Development, Richard (Dick) Nanna, stated that, "Our initial plan is to complete 30 to 40 core holes totaling approximately 4,000 meters of drilling with helicopter assistance and we expect to be completed in March 2008. Our contractor Falcon Drilling, specializes in helicopter supported drilling programs at remote exploration sites and has seasoned drilling personnel with experience in Canada and Mexico, as well as Central and South America. In March 2008 we hope to commence the construction of a road to enable us to road transport both a core rig and a reverse circular rig so as to expand our drilling program.
This press release has been reviewed and approved by Richard Nanna, Professional Geologist, Mr. Nanna is designated a "Qualified Person" under Canadian National Instrument 43-101.
Apollo Gold Corporation
Apollo is a gold mining and exploration company that operates the Montana Tunnels mine, which is a 50% joint venture with Elkhorn Tunnels, LLC, the Black Fox advanced stage development project in Ontario, Canada, and the Huizopa project, an early stage exploration project in the Sierra Madres in Chihuahua, Mexico. -
DENVER, Feb 14, 2008 (BUSINESS WIRE) -- Apollo Gold Corporation ("Apollo") (CA:APG) (AGT: AGT) is pleased to provide an update on the status of the infill diamond drilling program at its Black Fox Project ("Black Fox") located near Timmins, Ontario, Canada.
On August 13, 2007, Apollo announced an indicated probable reserve of 1,002,000 ounces of gold at its Black Fox Project as per a Canadian National Instrument 43-101 ("NI 43-101"). Within the NI 43-101 there was a recommendation that Apollo conduct an infill drilling program with the aim of potentially converting resources previously reported as "inferred" to "indicated" resources and hence potential conversion into additional mineral reserves. This infill drilling program was completed in the fourth quarter of 2007 and Apollo has now received all assays from the program for inclusion within the new resource/reserve statement scheduled for release during the first week of March 2008. The full feasibility study continues to be worked on by our third party consultant, SRK Consultants of Denver, and is expected to be issued at the end of March 2008.
In December 2007 and January 2008 Apollo announced assays for some core holes and below is a table of additional holes recently received. All assays, except from two holes, have now been received, and a full list of holes and assays may be viewed on our website http://www.apollogold.com. Apollo will update this list upon receipt of the assays from the two outstanding holes.
Dick Nanna, Apollo's Senior VP Exploration & Development, stated, "I believe that the drill program has achieved its objective and we expect to convert some of the resource into additional reserves and are now completing the new resource statement. The infill drilling program consisted of 66 holes, 41 drilled from the surface and 25 from our underground drift on the 235 meter level, with 60% of the holes encountering mineralization in excess of 2 grams per tonne.