Beiträge von GSP-Komet

  • Stillwater Mining Co. / SWC (NYSE)

    15 Montana Students to Get Close Up Civics Lesson
    Stillwater Mining, Norilsk Nickel partner on student trip to nation's capitol


    BILLINGS, Mont., March 22, 2007 /PRNewswire-USNewswire via COMTEX/ -- Fifteen high school students, all children of Stillwater Mining Company employees, will travel to Washington, D.C., on a Close Up Foundation program from March 25-31 to experience U.S. government and policymaking first-hand, Frank McAllister, Stillwater Mining's chief executive officer, announced today. All expenses for the trip were provided by Norilsk Nickel, which made a majority investment in Stillwater almost four years ago.
    "This is a unique opportunity for students in Montana to learn close up the importance of civic participation in our political process," McAllister said.
    "We are always looking for ways to demonstrate our commitment to the mine and the people of Montana, and we see this as just one more way of doing that," Sergey Chernitsyn, Norilsk Nickel's director of public relations, said.
    Russia-based Norilsk Nickel holds a 55.4 percent stake in Stillwater, the sole producer of platinum group metals in the United States. Norilsk's contribution to the U.S. market began with the Stillwater investment, which was the first Russian majority investment in a Western publicly traded company. The Close Up Foundation, the nation's largest nonprofit, nonpartisan citizenship education organization, was founded in 1970 to promote informed civic participation through educational programs and organized tours to Washington, D.C.
    The goal of the excursion is to expose students to basic concepts of government and citizenship. In addition to engaging in workshops and discussions with peers and policy analysts, the students will visit memorials and explore D.C.'s neighborhoods and landmarks. The students will spend Thursday, March 29, on Capitol Hill meeting with their senators and representative.
    More than 20,000 students, teachers, and others take part in Close Up's programs in Washington, D.C., each year. Since 1971, nearly 650,000 students, educators, and others have participated in Close Up programs.
    The students making the trip are: Aubrey Carter, Absarokee High; Daniel Wiemals, Billings Senior High; Kylie Potter, Billings West High; Cameron Ruttenbur, Laurel High; Jessica Cady, Park City High; Kenny Pratten, Reed Point High; Macey McClennen, Big Timber High; Tim Baker and Luke Epperson, Columbus High; Stacy Rieb and Travis Songstad, Joliet High; Hanna Gertiser and Kynsi Berg, Park Senior High; and Chelsea Lynde and Jacob Gavrielides, Red Lodge High.
    Stillwater Mining Company (SWC: Stillwater Mining Company) ( http://www.stillwatermining.com) is one of the world's leading producers of platinum group metals (PGMs) and the only significant primary producer of palladium in the Western Hemisphere. The company extracts, processes, and refines platinum, palladium, and associated minerals at mines and a smelter in Montana.
    Norilsk Nickel ( http://www.nornik.ru/en) is Russia's largest mining and metallurgical company and the world's largest producer of nickel and palladium, as well as a major producer of platinum and copper. Norilsk Nickel is listed on the MICEX and RTS Russian stock exchanges (GMKN_RU), and the company's ADRs are traded over the counter in New York (NILSY_US), London (MNOD_LI) and Berlin (NNIA_GR). Norilsk Nickel has international offices and production assets in the United States, Europe, Asia and Russia, including Stillwater Mining Company in the United States.
    SOURCE Norilsk Nickel

  • Harmony Gold Mining / HMY (NYSE), HAR (SA) und Gold Fields / GFI

    GoldQuest Signs Formal Agreement With Gold Fields and Outlines Joint Venture Exploration Plans


    VANCOUVER, BRITISH COLUMBIA, Mar 23, 2007 (MARKET WIRE via COMTEX) -- GoldQuest Mining Corp. ("GoldQuest" or the "Company") (CA:GQC) (FRANKFURT: M1W) is pleased to announce the formal signing of the Mining Venture Agreement with Gold Fields Limited with respect to selected projects in the Dominican Republic. The terms of the agreement were initially given in the press release of February 2, 2006. Work by the GoldQuest-Gold Fields Joint Venture has discovered a series of new gold, and copper / gold occurrences in the western Dominican Republic including Las Tres Palmas, Los Comios, Loma Viejo Pedro and Jengibre.
    Gold Fields can earn a 60% interest in the selected projects held by GoldQuest in the Dominican Republic by expending US$5 million over three years with a first year commitment of US$1.0 million which ended January 31, 2007. This initial commitment was exceeded by Gold Fields.
    Subsequent to vesting its 60%, Gold Fields may choose up to four projects whereby it can earn an additional 15% by expending a further US$5 million on each of the projects. GoldQuest has the right to maintain a 40% interest in one of the designated projects of its choice by fully funding its share of expenditures up to bankable feasibility study. At GoldQuest's election upon completion of the additional 15% earn-in, Gold Fields will arrange funding of GoldQuest's proportionate share of subsequent development and construction expenditures. In return, Gold Fields will be granted an additional 5% interest in the specific project (to 80%) and the funding will be deemed a loan, payable out of 90% of GoldQuest's profits from production. In the case of GoldQuest contributing on one project to bankable feasibility study, Gold Fields can earn an extra 5% (i.e. to 65%) by arranging funding of GoldQuest's proportionate share of the subsequent bankable feasibility study. Development and construction expenditures and the funding will be deemed a loan, payable out of 90% of GoldQuest's profits from production.
    Gold Fields have budgeted US$2 million for exploration on the GoldQuest projects in year two of the joint venture starting February 1, 2007. Over the next quarter exploration relating to the joint venture will focus on the following projects:

  • IAMGOLD / IMG, IAG (TSX, NYSE)

    TORONTO, ONTARIO, Mar 21, 2007 (MARKET WIRE via COMTEX) -- IAMGOLD Corporation ("IAMGOLD" or "the Company") (CA:IMG) (IAG: iamgold corp com) (ASX: IGD)(BSE: IAMGOLD) is pleased to announce the closing of the sale of IAMGOLD's interest in Omai Bauxite Mining Inc. ("OBMI") and Omai Services Inc. ("OSI") to Bosai Minerals Group Co., Ltd. ("Bosai Minerals"), pursuant to a Share Purchase agreement originally announced on December 19, 2006. Cash proceeds of $28.5 million have been paid to IAMGOLD. In addition, the transaction results in a reduction of the Company's third-party debt by $17.7 million.
    "We are pleased that the sale of the Bauxite assets has been completed. This transaction supports IAMGOLD's focus and commitment to maximize shareholder value," stated Joseph Conway, President & CEO of IAMGOLD. "We will continue to optimize our portfolio to unlock the potential of our asset base."

  • Newmont Mining Corp. / NEM (NYSE)

    Research and Markets: Newmont Mining Corporation, BHP Billiton Limited and Rio Tinto Group Are Among the Company Inco Limited's Competitors


    Limited - Company Analysis to their offering
    Company Analysis assists individual investors, managers and companies in evaluating opportunities, trends, market innovations as well as in selecting appropriate information solutions in order to make effective investment decisions.
    The study covers information on the business structure, areas of operation, products and services offered by the company. It comprises SWOT analysis, Key Ratios, and financials that aid investors in gaining an insight into the company's performance.
    The report is based on extensive research using data available from credible publications, trade journals, industry associations and the company sources.
    Report Highlights


    Table 5-1: Newmont Mining Corporation - Key Financials (in Million US$), 2003-2005
    Table 5-2: Newmont Mining Corporation - SWOT Analysis

  • Newmont Mining Corp. / NEM (NYSE)

    Newmont Mining (NEM) rallied after a BusinessWeek article reported that Barrick Gold (ABX), the world's No. 1 gold producer, may go after Newmont for its proven, probable reserves of 95 million ounces. In a deal, BusinessWeek says Newmont would be priced in the mid-$50s.

  • Newmont Mining Corp. / NEM (NYSE)

    ...


    In the precious metals patch, Indonesian prosecutors say they are confident that a court will find Newmont Mining (NEM) guilty of polluting a bay with the toxic heavy metals arsenic and mercury, the AP reported this weekend. A verdict is expected in early April and could lead to a prison term for the head of the local operation.


    ...

  • Goldcorp Inc./ G, GG (TSX, NYSE)

    Everton Extends Surface Soil Anomalies to over 1.5 km on the Cuance Concession in the Dominican Republic


    ...


    Everton is well funded and actively exploring in the Opinaca region of James Bay, Quebec where Everton has amassed one of the largest land claims adjacent to the Eleonore gold discovery, and where Goldcorp Inc. (GG:
    goldcorp inc new com) (CA:G) is proposing to spend several hundreds of millions of dollars developing its recent property acquisition. Everton is also actively exploring in the Dominican Republic adjacent to where the world's largest gold mining company, Barrick Gold (NYSE/TSX:ABX), is partnering with Goldcorp to develop the 18 million ounce Pueblo Viejo gold deposit, one of the world's largest undeveloped gold deposits, at an estimated cost of $2.3 billion.


    ...

  • Crystallex International Corp. WKN 890 729 CA22942F1018 KRY

    TORONTO, ONTARIO, Mar 20, 2007 (MARKET WIRE via COMTEX) -- Crystallex International Corporation (CA:KRY) (KRY:
    Crystallex International Corporation) - announced today that it has appointed Mr. Robert Crombie to the position of Senior Vice President, Corporate Development, of the Corporation with effect April 1st, 2007.
    Mr. Crombie joined Crystallex in 2002 and has recently held the position Vice President, Corporate Development. Commenting on the promotion, Gordon Thompson, Crystallex President and CEO stated, "In addition to his current responsibilities, Bob will work closely with me on a number of corporate initiatives including: developing and executing financing plans; coordinating Las Cristinas development activities; building relationships with key decision makers in the financial marketplace and representing me in presentations, meetings and other investor related activities."
    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 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.

  • Canyon Resources Corporation (amex:cau)

    Canyon Discovers Additional Gold Mineralization at Its Briggs Mine


    GOLDEN, Colo., March 16, 2007 /PRNewswire-FirstCall via COMTEX/ -- Canyon Resources Corporation (CAU: canyon resources corp com new) , a Colorado-based mining company, is pleased to announce the partial results of its step-out drilling along the Goldtooth fault structure at its Briggs Mine in Inyo County, California. This exciting new discovery has increased the potential for additional underground mineralization along strike on the Goldtooth fault structure. This structure is believed to be the major control for gold mineralization at Briggs.
    Holes R-105 and R-106, both previously reported as step-out holes drilled to the north of existing mine design areas on the Goldtooth fault structure, indicated the possibility for additional gold mineralization with step-out drilling. The decision was made to test this potential with a series of exploration holes drilled at roughly 200 foot increments north along strike on the Goldtooth structure. Six holes have recently been drilled outlining an additional 1,600 feet of mineralized strike length on the Goldtooth structure. Assays have been received on four of these new holes. The last two drill holes, R-111 and R-112, drilled 200 feet and 340 feet, respectively, north from hole R-110 on the Goldtooth fault structure, have intercepted the expected structure and mineralization and assays are pending.


    Highlights from the latest drilling include:


    * Hole R-110, a step-out hole drilled 1,300 feet along the strike from
    the reserve panel previously reported on the Goldtooth fault,
    encountered 20 feet (6.1 meters) of 0.198 ounce per ton (opt) Au
    (6.8 gram per tonne (gpt) Au), including 5 feet (1.5 meters) of 0.497
    opt Au (17.1 gpt Au).


    * Hole R-109, a 1,100 foot step-out hole encountered two mineralized
    zones, one of 20 feet (6.1 meters) averaging 0.096 opt Au (3.3 gpt Au)
    and one of 10 feet (3.0 meters) averaging 0.119 opt Au (4.1 gpt Au).


    * Hole R-108, a 750 foot exploration step-out hole encountered five feet
    (1.5 meters) of 0.119 opt Au (4.1 gpt Au).


    * Hole R-107, drilled 50 feet north along strike from Hole R-105
    encountered 10 feet (3 meters) of 0.125 opt Au (4.25 gpt Au).


    * Hole R-105, a 450-foot exploration step-out to the north encountered
    15 feet (4.6 meters) of 0.11 opt Au (3.77 gpt Au), including 5 feet
    (1.5 meters) of 0.266 opt (9.13 gpt Au).




    James Hesketh, President and CEO stated, "These drilling results are notable in that they clearly define the potential for a significant extension of mineralization along the Goldtooth structure. We have now drilled over 4,800 feet of strike length along the Goldtooth fault and have demonstrated the existence of nearly continuous gold mineralization over the entire length. We have also demonstrated continuity within the system with infill drilling in select areas that resulted in our recent reserve declaration. We have now mapped almost 10,000 feet of Goldtooth fault on our Briggs property and are impressed by the potential that remains open along strike and to depth on this very large mineralized system. We are currently limited in our ability to conduct additional surface drilling along strike to the north by steep terrain. This area will be more accessible from underground workings to determine its full potential. In light of our increased understanding of the Briggs gold deposits, specifically the high-grade Goldtooth structure, and due to the cost and difficulty of conducting additional surface drilling, we are reviewing our options for Briggs' development. These options include the potential for developing existing reserves by underground mining to develop cash flow, while pursuing the additional mineralized potential of this system by underground drilling and drifting."

  • Harmony Gold Mining / HMY (NYSE), HAR (SA) und Gold Fields / GFI

    Harmony cut to neutral vs. overweight at J.P. Morgan - MarketWatch


    Dan Norcini’s Commentary


    Below are a set of charts for the week.


    It is my opinion that Goldman and Morgan were quite active selling gold and capping this past week near the $655-660 level. I think the COT report makes it clear.


    Why I felt it was important to include this is because I heard pundit after pundit pronouncing gold was dead this week as a safe haven play, all of them pointing to the price performance which was basically following the equity market up and down. As you know, price action ALWAYS makes market commentary. The usual mode for gold moving higher during times of financial distress, uncertainty and fear was negated and instead gold was tracking the indices up and down. I think this is part of a concerted effort by the monetary powers to discredit gold and bolster the dollar so as to avoid alarming the investment world which as we all know does not like to apply the grey matter between its two ears any longer than to think how to operate the remote for the TV.


    By having Goldman and Morgan come in and beat back the rally attempts by gold, the feds can point to a falling gold price and say gold is no longer a safe haven hoping to steer money into the bond market which as we know is nothing but paper promises backed by more paper.


    Personally, these guys are fighting 5,000 years of history and are destined to fail miserably, although with the idiots that appear regularly on “BUY all the time TV”, they are hoping to stave off problems by basically buying time so that they can kick the can down the road further.


    http://www.jsmineset.com/

  • Harmony Gold Mining / HMY (NYSE), HAR (SA) und Gold Fields / GFI

    J.P. Morgan downgrades three miners, upgrades one


    LONDON (MarketWatch) -- J.P. Morgan downgraded three miners and upgraded one as part of a review of South Africa's mining sector. It remains a palladium bull, overweight platinum equities and neutral gold equities. It downgraded AngloGold (AU: anglogold ashanti ltd sponsored adr) to underweight from neutral, Lonmin (UK:LMI: lonmin ord usd) to underweight from neutral and Harmony Gold (HMY: harmony gold mng ltd sponsored adr) to neutral from overweight, while it upgraded Anglo Platinum (AGPPY :
    anglo platinum ltd adr to overweight from neutral.

  • Golden Minerals / AUM (TSX)

    DENVER, Mar 16, 2007 (BUSINESS WIRE) -- Apex Silver Mines Limited (SIL: apex silver mines ltd ord) today reported a further delay in the release of its 2006 year-end results. The company had previously reported in its press release dated March 2, 2007 that it had filed for a fifteen-day extension to file its annual report on Form 10-K with the Securities and Exchange Commission to allow additional time for the company to determine the fair value of its metals derivative positions using certain additional market information that it had not previously considered. The determination of the fair value of the company's metals derivative positions has taken more time than initially expected and, therefore, the company will be unable to file its Form 10-K on or before the extended annual report deadline. However, the company believes that its final determination of the 2006 mark-to-market loss related to its metals derivative positions will not significantly differ from the $670 million estimate reported in its March 2, 2007 press release. As of December 31, 2006, the total liability related to the company's metals derivative position is currently estimated at $818 million. As previously reported, restatement of the company's financial statements for the quarter ended September 30, 2005, the year ended December 31, 2005, and the first three quarters of 2006 will be necessary in order to correct the previously reported valuation of the company's metal derivative positions as the company expects that the related adjustments will be material. As a result of the late filing of its Annual Report on Form 10-K the company will not be able sell securities under its existing shelf registration statements for a period of at least one year. The company has concluded that the restatement indicates its related internal control over financial reporting was ineffective as of December 31, 2006 and is taking steps to remediate this material weakness.
    The company had also previously reported in its press release dated March 2, 2007 that additional time was necessary to assess whether it would be required to reflect amounts outstanding under the company's $225 million San Cristobal project financing facility and the estimated settlement cost of its metals derivative positions as a current liability on its December 31, 2006 consolidated balance sheet, due to potential noncompliance with certain covenants of the project financing facility. The company has since received waivers and confirmations from its lenders for the potential covenant violations and any related events of default. As a result, the company will only reflect the portion of such liabilities which are payable during 2007 as current liabilities in its December 31, 2006 consolidated balance sheet. The company has evaluated the procedures and processes it had in effect to identify or prevent noncompliance with loan covenants and the results of this evaluation indicate internal control over financial reporting was ineffective resulting in a material weakness in internal control over financial reporting as of December 31, 2006. The company is taking steps to remediate this material weakness.
    Apex Silver is a mining exploration and development company. The Ordinary shares of Apex Silver trade on the American Stock Exchange under the symbol "SIL."

  • Richmont Mines Inc./ RIC (TOR, NYSE)

    MONTREAL, QUEBEC, Mar 16, 2007 (MARKET WIRE via COMTEX) -- Richmont Mines Inc. (CA:RIC: news, chart, profile) (RIC: richmont mines inc com) announced today the restatement of its United States generally accepted accounting principles ("US GAAP") reconciliation note with respect to the presentation of exploration and development costs incurred on its East Amphi and Island Gold projects for the years ended December 31, 2005 and 2004.
    This restatement only pertains to the Company's US GAAP reconciliation note and has no impact on Richmont's previously reported financial results in accordance with Canadian generally accepted accounting principles ("Canadian GAAP"). This US GAAP restatement does not impact the Company's operations, cash flow or available cash and cash equivalents.
    The Company reports in accordance with Canadian GAAP and provides note disclosure in its annual financial statements with respect to a reconciliation of net loss, and shareholders' equity of Canadian GAAP to US GAAP. Under Canadian GAAP, development costs incurred on properties for which mineral resources have the potential of being economically recovered are capitalized. Under US GAAP, as interpreted by United States Securities and Exchange Commission guidelines, all costs incurred before a commercially mineable deposit has been established, which generally requires the preparation of a bankable feasibility study, should be expensed as incurred and such property should be classified as exploration property.
    In concert with its auditors and after having obtained approval from its board of directors, the results for the 2005 and 2004 financial years under US GAAP have been restated to properly account for costs relating to the East Amphi and Island Gold properties. The East Amphi and Island Gold projects that were improperly considered as being at the development stage prior to 2006, for US GAAP purposes, have been reclassified as exploration stage properties and the related capitalized costs have been charged to earnings. Accordingly, for the 2005 financial year, the Company increased its net loss under US GAAP from previously disclosed results by $3,585,656 from a loss of $27,456,697 to $31,042,353 representing a difference of $0.20 per share, and for the 2004 financial year, the Company realized a net loss of $5,571,748 rather than the previously disclosed net earnings of $613,439 representing a difference of $6,185,187 or $0.39 per share. The shareholders' equity decreased as at December 31, 2005 by $9,823,840 and December 31, 2004 by $6,238,184.
    The Company will present a restatement of its US GAAP reconciliation note with respect to the years ended December 31, 2005 and 2004 as part of its 2006 annual financial statements reported in accordance with Canadian GAAP.
    Because of this restatement, the US GAAP reconciliation note in the Company's previously filed annual financial statements with respect to the years ended December 31, 2004 and 2005 should not be relied upon.
    As part of its Sarbanes-Oxley certification requirement for 2006, the Company's management identified that the process related to the preparation of financial information under US GAAP for years prior to 2006 required improvement. Accordingly, the Company has improved its process to ensure that significant elements of US GAAP are taken into consideration in the preparation of the related information. The Company's process now includes the preparation, review and update of a US GAAP checklist and consultation with industry experts.
    Martin Rivard
    President and Chief Executive Officer

  • Richmont Mines Inc./ RIC (TOR, NYSE)

    THOM CALANDRA'S STOCKWATCH
    Rich mining stocks to get richer
    Signs point to 'crisis' shift to precious metals


    SAN FRANCISCO (CBS.MW) -- Here's the question of the year: When the investing public, already headed for the exits, runs screaming from the U.S. stock market, how will gold mining stocks, and gold, benefit?


    ...


    Tiny Richmont Mines (RIC: richmont mines inc com) has the easiest road to travel, by these computations. With three-year median sales growth down 6 percent and a three-year median profit margin of 28 percent, Richmont need only boost sales by 14.8 percent to satisfy this pricing model.

  • AngloGold Ashanti -- AU, ANG (NYS, JSE)

    It is my opinion that Goldman and Morgan were quite active selling gold and capping this past week near the $655-660 level. I think the COT report makes it clear.


    Why I felt it was important to include this is because I heard pundit after pundit pronouncing gold was dead this week as a safe haven play, all of them pointing to the price performance which was basically following the equity market up and down. As you know, price action ALWAYS makes market commentary. The usual mode for gold moving higher during times of financial distress, uncertainty and fear was negated and instead gold was tracking the indices up and down. I think this is part of a concerted effort by the monetary powers to discredit gold and bolster the dollar so as to avoid alarming the investment world which as we all know does not like to apply the grey matter between its two ears any longer than to think how to operate the remote for the TV.


    By having Goldman and Morgan come in and beat back the rally attempts by gold, the feds can point to a falling gold price and say gold is no longer a safe haven hoping to steer money into the bond market which as we know is nothing but paper promises backed by more paper.


    Personally, these guys are fighting 5,000 years of history and are destined to fail miserably, although with the idiots that appear regularly on “BUY all the time TV”, they are hoping to stave off problems by basically buying time so that they can kick the can down the road further.


    http://www.jsmineset.com/