TORONTO, ONTARIO, Feb 12, 2007 (CCNMatthews via COMTEX) -- IAMGOLD Corporation ("IAMGOLD" or "the Company") (CA:IMG:) (IAG: iamgold corp com) (ASX:IGD)(BSE:IAMGOLD) has announced today that effort continues to resolve the current work stoppage at Rosebel Gold Mine in Suriname. An offer was made to employees last week, that includes a substantial wage increase, increased vacation and benefits, and a lump sum payment to employees to reward the good work thus far on the project. The offer resulted from consultations and meetings between the Union, the Mediation Board, and Rosebel Management.
"We want to continue to build a strong and highly trained workforce at Rosebel. We are hopeful that this generous offer is accepted by the union and employees so we can shift our focus back to the optimization of this operation," commented Joseph Conway, President & CEO of IAMGOLD. "It is important to have a stable and committed workforce at Rosebel."
Prior to the work stoppage, the management at Rosebel believed they had reached an agreement with the Union and are still puzzled by the highly organized and intentional walkout. The work stoppage included the immediate setting up of barricades to prevent access to and from the site and sabotage of equipment including 25 trucks and 30 ATV's, and a flood in the basement of the mill. These illegal activities took place in the first days of the action. By January 28th, activity had become increasingly difficult which prompted the Government of Suriname to send in assistance to ensure the protection of explosives and other lethal reagents warehoused on site. Rosebel Management has worked closely with the Government and the Minister of Labour to resolve this situation.
Although the agreement has not yet been accepted, workers at Rosebel have requested to return to work. Management has not yet been able to accommodate this request as the damage that occurred during the stoppage is undergoing repairs. It is anticipated that these repairs will be completed by mid week and a progressive return to work will begin. Production can be resumed within about 48 hours of the opening of the plant.
Please note:
This entire press release may be accessed via fax, e-mail, IAMGOLD's website at http://www.iamgold.com and through CCNMatthew's website at http://www.ccnmatthews.com. All material information on IAMGOLD can be found at http://www.sedar.com or at http://www.sec.gov.
SOURCE: IAMGOLD Corporation
Beiträge von GSP-Komet
-
-
TORONTO, ONTARIO, Feb 13, 2007 (CCNMatthews via COMTEX) -- IAMGOLD Corporation ("IAMGOLD" or "the Company") (CA:IMG:) (IAG: iamgold corp com) (ASX:IGD)(BSE:IAMGOLD) is pleased to announce that the Government of Guyana has given its approval 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. The Government of Guyana, a 30% shareholder of OBMI, through the state owned National Industrial and Commercial Investments Limited (NICIL) has also waived the right of first refusal under the OBMI Shareholder Agreement. The transaction includes total consideration to IAMGOLD of approximately $46 million, comprised of $28 million paid cash, subject to working capital and other adjustments, and the assumption by Bosai Minerals of $18 million in third-party debt. The transaction will give Bosai Minerals 70% ownership interest in OBMI and 100% ownership of OSI.
"We are pleased that the Government of Guyana has accepted Bosai Minerals as a strong partner who is committed to the long-term development of the Bauxite operations in the Linden area," stated Joseph Conway, President & CEO of IAMGOLD. "We look forward to continuing our good relationship with the Government and people of Guyana."
Now that formal approval from the Government of Guyana has been received, the remaining documents and third party approvals are expected within days. The transaction will continue to have an effective date of December 31, 2006. Bosai Minerals Management is scheduled to arrive on site on or before February 28th.
Please note:
This entire press release may be accessed via fax, e-mail, IAMGOLD's website at http://www.iamgold.com and through CCNMatthew's website at http://www.ccnmatthews.com. All material information on IAMGOLD can be found at http://www.sedar.com or at http://www.sec.gov.
SOURCE: IAMGOLD Corporation -
Newmont Announces Seymour Schulich to Continue as Chairman of Newmont Capital but Will Not Stand for Re-Election to Newmont Board
DENVER, Feb 12, 2007 /PRNewswire-FirstCall via COMTEX/ -- Newmont Mining Corporation (NEM: Newmont Mining Corporation) today announced that Mr. Seymour Schulich will remain as Chairman of Newmont Capital Limited (a Newmont subsidiary) and will continue to serve as a consultant to the Company, but will not stand for re-election to the Newmont Board of Directors at the Company's Annual Meeting of Stockholders in April 2007. Mr. Schulich was the Chairman and Co-Chief Executive Officer of Franco-Nevada Mining Corporation Limited, which was acquired by Newmont in 2002 in connection with the three-way merger of Newmont, Franco-Nevada and Normandy Mining Corporation.
Mr. Schulich commented, "Since the merger of Newmont, Franco and Normandy, I have enjoyed participating in the building of a world-class gold company, and look forward to continuing my close association with the Company." Wayne W. Murdy, Chairman and Chief Executive Officer of Newmont said, "Seymour's contributions to the Company are immeasurable. The Board will miss his vast business experience and sharp wit; but we feel confident that he will continue to contribute to the exchange of ideas in his continuing role with the Company."
SOURCE Newmont Mining Corporation -
Feb 12, 2007 (Dow Jones Commodities News via Comtex) -- DOW JONES NEWSWIRES
Compania de Minas Buenaventura S.A. (BVN) may earn a 60% stake in Newmont Mining Corp.'s (NEM) Breapampa project after investing $5 million to infill drill the property during the first 12 months.
Buenaventura is Peru's largest metals mining company. -
Why Gold Is Headed Higher
02/14/2007 03:24 PM EST -
Demand for Gold Continues to Be Red-Hot
02/15/2007 10:25 AM EST
-
GOLDEN, Colo., Feb 06, 2007 /PRNewswire via COMTEX/ -- Canyon Resources Corporation (CAU: canyon resources corp com new) , a Colorado-based mining company is pleased to announce the results of its open pit and underground feasibility studies to re-start mining operations at its Briggs Mine located in Inyo County, California. The Briggs Mine is a permitted mining facility with ongoing residual gold production from its existing leach pad and has produced over 555,000 ounces of gold since 1996. The feasibility studies were designed to develop an accelerated approach to putting the mine back into operation. This plan utilizes the current robust gold markets by initially starting as a small scale low-grade open pit operation with concurrent development of a small scale underground mining operation. This re-start plan is contingent on the closing of appropriate financing.
The combined underground and open pit operation, based on the feasibility studies, would produce gold at a rate of 30,000 ounces in year one of operation, 45,000 ounces in year two, 33,000 ounces in year three and 4,500 ounces in year four. Project cash operating cost, including offsite refining, through the projected mine life is estimated to be $430 per ounce of gold produced. Total capital cost is $8.25 million to initiate open pit gold production spent over a five month period. In addition, $4.6 million will be required in the next year to develop and initiate underground mining. The total project develops an IRR of 15% and a net return of $4.7 million at a gold price of $600 per ounce. A ten dollar change in gold price will impact net return by $1.1 million. -
COEUR D'ALENE, Idaho, Feb 08, 2007 (BUSINESS WIRE) -- James A. Sabala, Executive Vice President and Chief Financial Officer of Coeur d'Alene Mines Corporation (CDE: Coeur d'Alene Mines Corporation) , will speak at the Wall Street Analyst Forum's 18th Annual Conference in New York City on February 14 at 10:30 a.m. Eastern time. Mr. Sabala will present an overview of the company's strategy and provide a detailed description of Coeur's San Bartolome silver project in Bolivia.
The slides used by Mr. Sabala will be available in the Investor Relations section of Coeur's web site, http://www.coeur.com.
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, and Nevada. -
TORONTO, ONTARIO, Feb 05, 2007 (MARKET WIRE via COMTEX) -- North American Palladium Ltd. ("NAP") (CA:PDL: news, chart, profile) (PAL: north amern palladium ltd com) is pleased to announce that it has entered into a platinum and palladium purchase agreement (the "Agreement") with Auramet Trading, LLC ("Auramet") a precious metals merchant, providing for the sale of an average of 10,000 ounces of palladium and 500 ounces of platinum per month over a two-year term. At its election, NAP may receive advance payments not exceeding, at any time, an aggregate maximum amount of US$25 million.
To secure the obligations of the Company under the Agreement, NAP has granted to Auramet a security interest in the concentrates (including the precious and base metals contained therein) mined at the Lac des Iles mine together with the proceeds arising from the sale of the concentrate, and by way of security, an assignment of its smelting and refining agreement.
"This facility puts the value of our in-process precious metals to work in a cost effective and efficient manner", commented Jim Excell, President & CEO of NAP. "It enhances our liquidity and assures NAP's position as North America's premier palladium producer."
Advance payments will be subject to a discount equal to LIBOR plus 1.9% p.a. to delivery date and will be used to finance NAP's ongoing working capital requirements.
North American Palladium's Lac des Iles Mine is Canada's only primary producer of palladium and is among the largest open pit, bulk mineable palladium operations in the world. The Mine also generates substantial revenue from platinum and by-product metals including nickel, gold and copper. NAP is focused on expanding its production profile through joint ventures in Canada and Finland. Palladium's catalytic qualities are expected to play an increasing role in the automotive industry in response to growing concern for global environmental solutions, in fuel cell technology for alternative energy sources and an emerging jewelry market, while continuing to have widespread application in the dental, electronics and chemical sectors. -
...
IMC's interest in Pacapausa is held under the terms of an option agreement with Southwestern Resources Corp. ("Southwestern"), whereby IMC can earn up to a 70% interest in Pacapausa by meeting certain work commitment requirements, by completing a feasibility study, and by financing the project into production. Southwestern would then retain a 30% participating interest. IMC's 70% interest in Pacapausa will be shared equally with IAMGOLD Corporation under the terms of a regional, jointly funded (50/50) joint venture in Peru between IMC and IAMGOLD, which encompasses the Pacapausa property. IMC is the operator of exploration at Pacapausa.
....
-
...
The informational report "Investing in Gold Stocks for the SmallCap Investor" has been made available free of charge at http://www.SmallCapSentinel.com and will address the rise of interest in gold related equities such as U.S. Gold (UXG: U S Gold Corporation) , Newmont Mining Corporation (NEM: Newmont Mining Corporation) , Vista Gold Corp. (VGZ: vista gold corp com new) and others.
...
-
DENVER, Feb 07, 2007 /PRNewswire-FirstCall via COMTEX/ -- The Board of Directors of Newmont Mining Corporation (NEM: Newmont Mining Corporation) today declared a regular quarterly dividend of $0.10 per share, payable March 29, 2007 to holders of record at the close of business on March 7, 2007.
In addition, Newmont Mining Corporation of Canada Limited (CA:NMC: news, chart, profile) today declared a regular quarterly dividend of Cdn $0.1185 per share on its exchangeable shares, payable on March 29, 2007 to holders of record at the close of business on March 7, 2007.
SOURCE Newmont Mining Corporation -
Aurelio Expands Copper Zone with Property Acquisition from Newmont Mining
Nineteen New Claims Staked
LITTLETON, Colo., Feb 07, 2007 (BUSINESS WIRE) -- Aurelio Resource Corporation (AULO: aurelio resource corp com) is pleased to announce that it has reached an agreement in principle with Newmont Mining Corporation to purchase two of its patented mineral claims. These claims, known as the Banner claim and the Australia claim, are adjacent to Aurelio's 13 MAN claims in Arizona and allow Aurelio to further expand the Hill Copper Project, and its copper and zinc zone. Newmont has agreed to a purchase price of $100,000 U.S. and Aurelio agreed to give a 1% Net Smelter Returns Royalty on the patented claims as well as any properties Aurelio currently owns or acquires within a designated Area of Interest. In addition, Aurelio has given Newmont a Right of First Offer with respect to any option, joint venture, sale or any other disposition of property by Aurelio to a third party.
-
Commentary: As markets become more volatile, who will blink first?
"The moment you accepted money, you became professionals. It's just beginning."
-- KGB agent, "The Falcon and the Snowman"...
For my part and with my money, I approach the market through two distinct lenses. I've got the trading bucket of my book, where I attempt to capture trends, phases and nuances, and I've got a longer-term component, where I want to position to capture secular trends. I've effectively pared my short-term exposure but want to use downside disconnects, if and when they arrive, to add to core holdings such as Golden Star Resources Ltd. (GSS:Golden Star Resources, Ltd.) ,...
-
Everton Resources Inc. ("Everton") (CA:EVR:) is pleased to announce that it has increased the previously announced private placement financing to $12,500,000. The syndicate of agents led by Orion Securities Inc. and including Canaccord Adams Inc. (collectively the "Agents"), will offer up to 10,000,000 Units on a "best efforts" basis at a price of $1.25 per Unit.
Each Unit will consist of one common share of Everton (a "Unit Share") and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder to purchase one common share of Everton at a price of $1.65 for a period of 18 months following the Closing Date. In the event that the weighted-average price of the common shares of the Company on the TSX Venture Exchange is equal to or greater than $2.50 for 20 consecutive trading days, the holders will have 30 days to exercise their warrants failing which the warrants will expire, provided that such expiry date shall be no earlier than the date that is four months plus one day from the Closing Date.
Everton will use the net proceeds from the Offering to fund its further exploration and development in the Opinaca region of James Bay, Quebec, to further advance the Company's exploration activities in the Dominican Republic, and for general corporate purposes.
The Offering is expected to close on or about February 20, 2007, and is subject to certain conditions including the receipt of all necessary approvals, including the approval of the TSX Venture Exchange. The Unit Shares, the Warrants and the common shares issuable on the exercise of the Warrants will be subject to resale restrictions for a period of four months following the Closing Date.
Everton will pay the Agents a cash commission equal to 6.5% of the gross proceeds of the Offering. The Agents will also receive non-transferable compensation options (the "Compensation Options") equal to 6.5% of the total number of Units sold pursuant to the Offering. Each Compensation Option will entitle the Agents to purchase one Unit at the Issue Price for a period of 18 months following the Closing Date.
This press release is not an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from U.S. registration requirements.
Everton is 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. (CA:G:) (GG:goldcorp inc new com) 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 (CA:ABX:) (ABX:Barrick Gold Corporation) , is partnering with Goldcorp to develop the 15 million ounce Pueblo Viejo gold deposit, one of the world's largest undeveloped gold deposits, at an estimated cost of $1.4 billion.
The Company's Shares are listed on the TSX Venture Exchange and trade under the symbol "EVR".
SOURCE: Everton Resources Inc. -
JOHANNESBURG, Feb 02, 2007 (Dow Jones Commodities News via Comtex) -- Harmony Gold Mining Co. Ltd. (HMY), the world's fifth largest producer of gold, is likely to see marginally lower volumes in the third quarter but improved ore grades compared with the previous three months, Chief Executive Bernard Swanepoel said Friday.
"The drop off (in production) this quarter will be smaller," Swanepoel said following the release of the South African miner's results for the quarter to the end of December.
Second-quarter production was down 3.8% on the previous quarter at 18,724 kilograms. Recovery grades from Harmony's underground South African operations declined by 4.4% on quarter to 4.8 grams a metric ton, while yields from its Australian operations decreased 5.1% to 2.43 grams a ton. -
JOHANNESBURG (Dow Jones)--Harmony Gold Mining Co. (HMY), the world's fifth largest producer of gold, Friday posted a sharp jump in second-quarter profit thanks to the disposal of its investment in junior gold miner Western Areas Ltd. (WAR.JO).
-
Harmony Gold Mining Co. Ltd. (HMY), the world's fifth largest producer of gold, is likely to see marginally lower volumes in the third quarter but improved ore grades compared with the previous three months, Chief Executive Bernard Swanepoel said Friday.
-
Mining MarketWatch Review Provides Overview Behind Abcout Mines Ltd. 750 Million lb Zinc and 20 Million Oz Silver and 220K Oz Gold Mine Projects
SEATTLE, Jan 30, 2007 (BUSINESS WIRE) -- Mining MarketWatch Journal has published a review that breaks down the metrics behind the Abcourt Mines Inc. (CA:ABI: news, chart, profile) , offering insight and opportunity on the reopening of their 100% owned Abcourt-Barvue Zinc-Silver mine and expansion of the resource base on their Elder gold mine. A copy of the informative piece may be viewed free of charge at http://www.miningmarketwatch.net/abi.htm.
Editor's notes from the review: "750 Million lbs Zinc, 21 Million Oz Silver, 220k Oz Gold. 43-101 measured and indicated resources on most numbers. Only 43 Million shares out and trading a mere 0.68 cents; extrapolate those numbers and ABI.V is deserved of attention, we get a share value over $40.00 per share of in ground value. This company will become a major cash cow! Currently producing or developing miners in this mineral rich area include the likes of Agnico Eagle Mines Ltd. (AEM:Agnico-Eagle Mines Limited) , IAMGold Corp (IAG:iamgold corp com) , Richmont Mines Inc. (CA:RIC) (RIC:richmont mines inc com) , Breakwater Resources Ltd. (CA:BWR: news, chart, profile) and Xstrata Plc (LONDON:XTA). It wouldn't surprise us to see a buy-out offer from any of the aforementioned miners. A feasibility study is imminent and is likely to improve on what we already know. Abcourt Mines Inc. is currently at disproportionate multiples as inherit resource and infrastructure value per share is well in excess of the current trading price." -
HIGH GRADE INTERSECTION OF 33M @ 312.91G SILVER/T
TORONTO, ONTARIO, Feb 01, 2007 (MARKET WIRE via COMTEX) -- Apogee Minerals Ltd. (CA:APE) has received additional results from the Phase II resource definition diamond drilling program at the Company's Paca Silver-Zinc Open Pit Target that have confirmed the intersection of broad zones of silver, zinc and lead mineralization on the western side of target area. Drilling is complete and Micon International have commenced resource calculation and NI43-101 Technical Report.
...
The Phase II drill program was designed to follow-up and expand on broad zones of high grade mineralization previously reported in historical drilling by joint venture partner, Apex Silver Mines Limited (SIL:apex silver mines ltd ord) , and Apogee Phase I confirmatory drilling which also intersected high grade silver mineralization within broad zones of zinc and lead mineralization (see Apex Silver Press Release October 23, 2002 and Apogee Press Release July 31, 2006).