Beiträge von GSP-Komet

JOHANNESBURG, Jan 29, 2008 (Dow Jones Commodities News via Comtex) -- Edited Press Release
Gold Fields Ltd. (GFI) said it has been informed by South African power company Eskom that 80% of total average power consumption will be restored to its mines by Tuesday night and to 90% by Wednesday.
The Johannesburg-based company said the restoration of power will be phased in, in a carefully controlled manner with consideration for health and safety matters, and in close consultation with Eskom to ensure the safe and sustainable resumption and build-up of production.
Eskom has undertaken to give the industry at least four hours warning prior to any future interruption in supply.

Power shortages in South Africa have cut gold production at top miners AngloGold Ashanti Ltd. (AU) Harmony Gold Mining Co. (HMY), Gold Fields Ltd. (GFI)

JOHANNESBURG, Jan 28, 2008 (Dow Jones Commodities News via Comtex) -- Edited Press Release
Gold Fields Ltd. (GFI) Monday said power supply has been restored to 71% of total average consumption at its South African operations.
The 50% level of normal electrical consumption is required simply to pump, ventilate and refrigerate its operations.
"The amount currently available is sufficient for essential maintenance, pumping, ventilation, refrigeration, opening up faces and making safe, but not for production or beneficiation purposes," Gold Fields said.
It said the situation will be maintained until at least Wednesday, at which time a further meeting will be held with state utility Eskom and other stakeholders with a view to increasing sustainable power supply from the current 71%, and a commensurate resumption of production.
Shareholders will be informed of any new developments as they occur, the Johannesburg-based company said.

Gold Fields (GFI) says all mining activities have been suspended at its South African operations due to Eskom (electric utility) requesting their Key Industrial Consumers, of which GFI is one, to reduce its consumption to minimum load possible.

Fellow gold producer Gold Fields Ltd. (GFI: gold fields ltd new sponsored adr) also reported Tuesday that Eskom has said 80% of total average power consumption will be restored to its mines by Tuesday night. South Africa's largest gold miners, which operate the deepest mines in the world, were forced to suspend operations last week due to a power shortage.

LONDON (MarketWatch) -- South African miners are expecting output to resume as early as this week, after voluntary power outages left the gold-producing industry there at a standstill.

Leading South African mining companies suspended operations on Friday after they agreed to curtail the use of electricity at the request of the state-run utility Eskom, which is struggling to generate enough power to meet the country's rising needs.
South Africa is the world's second-largest gold producer.

Similar comments were made by Gold Fields (GFI:
gold fields ltd new sponsored adr) and Harmony Gold (HMY:
harmony gold mng ltd sponsored adr) .

JOHANNESBURG, SOUTH AFRICA, Jan 29, 2008 (MARKET WIRE via COMTEX) -- AngloGold Ashanti (AU: anglogold ashanti ltd sponsored adr) begins process to restart production.
Following a meeting this morning between Eskom and industrial electricity consumers, AngloGold Ashanti has commenced the process of bringing back into production all of its underground mines and their associated gold treatment plants. It is anticipated that all mines will be back in full production by the end of next week.
These plans are based on an expectation that AngloGold Ashanti will be able to draw on 90% of its demand prior to last week's shut-down. Indications are that it will not immediately be in a position to process surface sources in the Vaal River area due to the reduced power supply. However, the company will continue to consider means of increasing energy efficiency measures in discussions with Eskom in order to bring surface sources to account so as to return to normal production.
It is not possible at this time to estimate the operating and financial consequences of the current events. Further details will be provided when the company presents its results for the fourth quarter on 7 February 2008.
Certain statements made during this communication, including, without limitation, those concerning the economic outlook for the gold mining industry, expectations regarding gold prices, production, cash costs and other operating results, growth prospects and the outlook of AngloGold Ashanti's operations including the completion and commencement of commercial operations of certain of AngloGold Ashanti's exploration and production projects, and its liquidity and capital resources and expenditure, contain certain forward-looking statements regarding AngloGold Ashanti's operations, economic performance and financial condition. Although AngloGold Ashanti believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. Accordingly, results could differ materially from those set out in the forward-looking statements as a result of, among other factors, changes in economic and market conditions, success of business and operating initiatives, changes in the regulatory environment and other government actions, fluctuations in gold prices and exchange rates, and business and operational risk management. For a discussion of such factors, refer to AngloGold Ashanti's annual report for the year ended 31 December 2006, which was distributed to shareholders on 29 March 2007. AngloGold Ashanti undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after today's date or to reflect the occurrence of unanticipated events.
In connection with the proposed merger transaction involving AngloGold Ashanti and Golden Cycle Gold Corporation, AngloGold Ashanti will file with the SEC a registration statement on Form F-4 and GCGC will mail a proxy statement/prospectus to its stockholders, and each will be filing other documents regarding the proposed transaction with the U.S. Securities and Exchange Commission ("SEC") as well. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, INVESTORS ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS REGARDING THE PROPOSED TRANSACTION AND ANY OTHER RELEVANT DOCUMENTS CAREFULLY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. The final proxy statement/prospectus will be mailed to GCGC's stockholders. Stockholders will be able to obtain a free copy of the proxy statement/prospectus, as well as other filings containing information about AngloGold Ashanti and GCGC, without charge, at the SEC's Internet site ( http://www.sec.gov). Copies of the proxy statement/prospectus and the filings with the SEC that will be incorporated by reference in the proxy statement/prospectus can also be obtained, without charge, by directing a request to AngloGold Ashanti, 76 Jeppe Street, Newtown, Johannesburg, 2001 (PO Box 62117, Marshalltown, 2107) South Africa, Attention: Investor Relations, +27 11 637 6385, or to Golden Cycle Gold Corporation, 1515 S. Tejon, Suite 201, Colorado Springs, CO 80906, Attention: Chief Executive Officer, (719) 471-9013.

Queries

South Africa
Steven Lenahan
Tel: +27 (0) 11 637 6248
Mobile: +27 (0) 83 308 2200
E-mail: Email Contact

Alan Fine
Tel: +27 (0) 11 637 6383
Mobile: +27 (0) 83 250 0757
E-mail: Email Contact

SOURCE: AngloGold Ashanti

JOHANNESBURG, SOUTH AFRICA, Jan 28, 2008 (MARKET WIRE via COMTEX) -- AngloGold Ashanti (AU: anglogold ashanti ltd sponsored adr) will release its fourth quarter and 2007 year end results on 7 February 2008.
A live presentation will take place at AngloGold Ashanti's corporate office in Johannesburg, South Africa at 10h00 (SA Time).
An international conference call will also take place on the same day at 16h00 (SA Time).
Kindly RSVP to tcotterell@anglogoldashanti.com by 5 February 2008 if you are attending the live presentation together with your car registration details for parking confirmation.
Presentation details

Time: 10.00 (South Africa)
Venue: AngloGold Ashanti Corporate Office
Address: 76 Jeppe Street, Newtown

The live presentation will also be webcast and made available on the AngloGold Ashanti website http://www.anglogoldashanti.com.
International Conference call details
An international earnings conference call will take place on the same day at 16h00, South Africa time (US EST: 09h00; UK: 14h00; Sydney: 1h00 (8 February)). Participants can access the call by dialing one of the following numbers and referencing 'AngloGold Ashanti':

From North America:
Toll 1 412 858 4600
Toll-free 1 800 860 2442
From the UK:
Toll 020 7107 0611
Toll-free 0 800 917 7042
From Australia:
Toll-free 1 800 350 100
From South Africa:
Toll 011 535 3600
Toll-free 0 800 200 648

Conference call replay details
A replay will be available two hours after the call on 7 February 2008 through to 17 February 2008. To access the replay, dial one of the following numbers and reference the playback code 2645#

From North America:
Toll 1 412 317 0088
Toll-free 1 877 344 7529
From the UK:
Toll-free 0 808 234 6771
From Australia:
Toll-free 1 800 091 250
From South Africa:
Toll 011 305 2030

As usual, a live webcast of the conference call, as well as the company's full quarterly results, will be available on http://www.anglogoldashanti.com.

Contact:

Himesh Persotam
Telephone: +27 (0) 11 637 6647
Mobile: +27 (0) 82 339 3890
Email: Email Contact

SOURCE: AngloGold Ashanti

Gold Bump

Bloomberg reports AngloGold Ashanti (AU) and other gold miners in South Africa are uncertain of when production will resume. Mining activities were shut down last Friday after state-run utility Eskom requested gold, diamond, and platinum miners operate at a minimum due to power shortages. But industry leaders are currently meeting with Eskom and discussing ways in which they may reduce sector demand by 10%. Furthermore, AU CEO Mark Cutifani said he is confident the reduction target can be achieved without jeopardizing workplace safety or production. For context on gold, read Professor Lance Lewis’ article Central Banks Pushing Gold.

From the Bull Pen: Gold stocks were hit hard last Friday when the news was announced. But Professor Lewis said the panic was a gift because the country needs the money and the companies will work something out with Eskom. Bulls may play AU and GoldFields (GFI); sell-stops below $40 and $14 respectively.

AngloGold Ashanti to restart production

NEW YORK (MarketWatch) -- AngloGold Ashanti (AU: anglogold ashanti ltd) said Tuesday that it has started the process to restart production after a meeting with South Africa's state-owned power supplier Eskom. The gold miner said it expects all mines to return to full production by the end of next week, but it is currently unable to estimate the operating and financial consequences. Fellow gold producer Gold Fields Ltd. (GFI: gold fields ltd new sponsored adr) also reported Tuesday that Eskom has said 80% of total average power consumption will be restored to its mines by Tuesday night. South Africa's largest gold miners, which operate the deepest mines in the world, were forced to suspend operations last week due to a power shortage.

LONDON (MarketWatch) -- South African miners are expecting output to resume as early as this week, after voluntary power outages left the gold-producing industry there at a standstill.

Leading South African mining companies suspended operations on Friday after they agreed to curtail the use of electricity at the request of the state-run utility Eskom, which is struggling to generate enough power to meet the country's rising needs.
South Africa is the world's second-largest gold producer.
AngloGold Ashanti (AU: anglogold ashanti ltd sponsored adr) said over the weekend that it expects a phased return to normal operations with a ramp-up of additional power later in the week.

TORONTO, ONTARIO, Jan 31, 2008 (MARKET WIRE via COMTEX) -- IAMGOLD Corporation (CA:IMG) (IAG: iamgold corp com) (BOTSWANA: IAMGOLD) ("IAMGOLD" or "the Company") reports that the French Government through a declaration issued on behalf of the President's Office has advised that the President will not approve the final permits necessary to commence construction of the Camp Caiman project located in French Guiana. No technical, environmental or legal reasoning for the decision was provided in the declaration. The Company will be seeking further information from the relevant authorities in order to determine next steps.
Camp Caiman is a development project hosting approximately 1.1 million ounces of gold. Throughout the permitting process, the Company has fulfilled all legal, technical and environmental obligations required; including full and open public hearings and consultations. The project received a positive response from the relevant authorities, as well as a positive recommendation from the CODERST, a government appointed committee designed to review such projects.
"The Camp Caiman project exemplified the highest standards of environmental protection and innovation, based on an extensive application and public hearing process dating back to 2005" stated Joseph Conway, President & CEO, "We firmly believe that the Camp Caiman project could be a catalyst for the economic development of the French Guiana region as well as a model for socially and environmentally responsible mining in France. IAMGOLD has committed significant resources to the Camp Caiman project and we will be considering all of our options for protecting and advancing those interests going forward."

TORONTO, ONTARIO, Jan 30, 2008 (MARKET WIRE via COMTEX) -- IAMGOLD Corporation ("IAMGOLD" or "the Company") (CA:IMG) (IAG: iamgold corp com) (BOTSWANA: IAMGOLD) is pleased to provide an update of its operational performance for 2007 and provide guidance for 2008 production, costs, exploration and development.
HIGHLIGHTS
- 2007 production increased to 965,000 ounces gold - in-line with guidance
- 2008 production forecast - 920,000 ounces - slight (5%) decline from 2007
- 2008 cost guidance- $455 to $470 per ounce
- $87.3 million approved for exploration and development project spending in 2008
- Prefeasibility study at Quimsacocha expected in April
- Exploration begins at Camp Caiman
- Buckreef scoping study to be completed by mid year

DENVER, Jan 31, 2008 /PRNewswire-FirstCall via COMTEX/ -- ROYAL GOLD, INC. (RGLD: Royal Gold Inc) (CA:RGL) , the leading precious metals royalty company, today announced second quarter fiscal 2008 net income of $5.1 million, or $0.13 per basic share, on record royalty revenue of $15.4 million. This compares to net income for the second quarter of fiscal 2007 of $5.6 million, or $0.24 per basic share, on royalty revenue of approximately $12.9 million.
Extraordinary, non-recurring expenses related to the Company's evaluation of a business development opportunity and non-recurring Battle Mountain-related charges totaled $2.2 million, or $0.05 per share on an after tax basis. In addition, accounting for accumulated dividends on the 7.25% mandatory convertible preferred shares resulted in an adjustment to earnings available to common stockholders of $1.2 million, or $0.04 per share. This preferred dividend payment will terminate on March 10, 2008, when all preferred shares are converted into shares of common stock. Per share results were also lower than the prior period due to additional shares outstanding relating to the acquisitions of Penasquito, Pasqua-Lama, and Battle Mountain assets, which are expected to be major contributors to the Company's future growth.
Net income for the six-month period ended December 31, 2007, was $10.8 million, or $0.33 per basic share, on royalty revenue of $28.2 million. This compares to net income of $10.6 million, or $0.45 per basic share, for the six-month period ended December 31, 2006, on royalty revenue of $22.8 million. For the six-month period, non-recurring Battle Mountain and extraordinary business development charges totaled $2.2 million, or $0.05 per share on an after tax basis. The Company also recorded an adjustment to earnings per share of $0.04 for the six-month period associated with accumulated dividends on the 7.25% mandatory convertible preferred shares.
Free cash flow for the quarter was approximately $11.2 million, totaling 73% of revenue. This compares to free cash flow for the second quarter of fiscal 2007 of approximately $10.0 million or 78% of revenues.
As of December 31, 2007, the Company had a working capital surplus of approximately $201.0 million. Current assets were $ 209.4 million (including $195.7 million in cash), compared to current liabilities of $8.4 million resulting in a current ratio of 25 to 1.
"Solid revenues from our core producing royalty properties, new contributions from the Taparko mine and continued strength in the price of gold resulted in near-record cash flow, even after several non-recurring expenses," said Tony Jensen, President and CEO. "During the quarter, we received our first revenue from royalties acquired in the Battle Mountain transaction. The closing of the AngloGold acquisition later this quarter will further enhance our pipeline of new revenue for the second half of fiscal 2008."

Royal Gold Inc. 2Q Rev $15.4M Vs $12.9M, +20% >RGLD

Royal Gold Inc. 2Q Net $5.07M Vs Net $5.64M, -10% >RGLD

Royal Gold Inc. 2Q EPS 13c Vs EPS 24c >RGLD

Royal Gold Inc. 2Q Rev $15.4M Vs $12.9M, +20% >RGLD

Jan 31, 2008 (Dow Jones Commodities News via Comtex) -- DOW JONES NEWSWIRES
Royal Gold Inc.'s (RGLD) second-quarter net income dipped despite higher royalty revenue due to the inclusion of charges in the latest quarter.
The Denver precious metals royalty company said net income in the latest period was $5.1 million or 13 cents a share, down from $5.6 million or 24 cents a year earlier.
In the latest period, non-recurring expenses related to its evaluation of a business-development opportunity and Battle Mountain-related charges totaled $2.2 million or 5 cents a share.
Also, preferred-share dividends were about $1.2 million in the latest period versus nil a year earlier. Average shares were higher in the latest quarter.
Royal Gold said its second-quarter royalty revenue rose to $15.4 million from $12.9 million.

TORONTO, ONTARIO, Jan 17, 2008 (MARKET WIRE via COMTEX) -- North American Palladium Ltd. (CA:PDL) (CA:PDL.WT) (PAL: PAL) today announced production results for the year ended December 31, 2007.
Highlights for the quarter and year ended December 31, 2007
-Total palladium production for the year ended December 31, 2007 was 286,334 ounces representing an increase of 21% compared to the prior year.
-Palladium head grade for the year ended December 31, 2007 increased 10% to 2.39 g/t versus the prior year's head grade of 2.18 g/t.
-Palladium spot price of US $364 per ounce as at December 31st, 2007 increased 6% compared to US $344 per ounce as at September 30th, 2007.
Results of Operations
For the year ended December 31, 2007, the Company's Lac des Iles operation achieved a 9.5% increase in mill throughput, consistent quarterly production levels and improved recoveries. Palladium production for the year 2007 increased 20.6% to 286,334 ounces from 237,338 ounces in 2006 at an average head grade for the year of 2.39 g/t palladium compared with 2.18 g/t palladium in 2006. In the fourth quarter of 2007, the mine produced 71,595 ounces of palladium down 2.2% from the fourth quarter 2006 production of 73,242 ounces.
The underground mine continues to deliver strong results, achieving consistency in grade and throughput. During the quarter the underground averaged 2,198 tonnes of ore per day at a palladium head grade of 5.98 g/t. As a result, the average blended palladium mill feed grade improved to 2.58 g/t in the fourth quarter, compared to 2.52 g/t palladium in the fourth quarter of last year.
Mill availability improved to 91.1% this year versus 86.5% in 2006 due to improvements in maintenance scheduling and preventative maintenance measures implemented consistently by mine personnel. Mill availability in the fourth quarter of 2007 at 86.9% was lower than the same quarter last year due to planned mill shutdowns.
A total of 1,165,769 tonnes of ore were processed during the fourth quarter for an average of 12,671 tonnes per day at a palladium recovery rate of 75.2%, compared to 1,179,644 tonnes or 12,822 tonnes per day at a recovery of 76.9% in the same period last year.

Another quick update to the portfolio. Thursday morning I decided to buy back the calls I sold against my (VGZ) position at a premium of 20 cents. I had sold the calls at 45 cents, and they have provided a bit of cover as gold has pulled back. In my opinion VGZ has probably overcorrected, so I want to cover here and perhaps sell calls later if the stock moves up.

...

and I have my other junior partially hedged through covered calls on (VGZ).

...

January 21

SPOKANE, Wash., Jan 18, 2008 (BUSINESS WIRE) -- Mines Management, Inc. (MGN: mines mgmt co com) (TSX:MGT) (the Company) is pleased to announce it will present at the Vancouver Resource Investment Conference, scheduled for January 20 and 21, 2008, at the Vancouver Convention & Exhibition Centre, 200 - 999 Canada Place, Vancouver, British Columbia.
The Company's booth number is: 1111
The Company will also provide an update on activities at the Montanore Silver Project on Monday, January 21st, at 4:10 p.m. in Workshop #4. The presentation will focus on exciting progress being made at the Montanore Project.
Register at the booth to win a beautiful 1 Kilo Kookaburra Silver Coin. Drawing to be held during the Company's presentation.
Pre-registration to the conference is free. Information about the conference can be obtained at the conference's website at the following location: http://www.cambridgehouse.ca, or by clicking on the following link to the Cambridge House Vancouver Conference ( http://cambridgehouse.ca/ch_jan2008.html#Agenda/).
Statements made which are not historical facts, such as participation in industry events, permitting, drill results, engineering and feasibility, and the timing of such activities, are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, and involve a number of risks and uncertainties that could cause actual results to differ materially from those projected, anticipated, expected or implied. These risks and uncertainties include, but are not limited to, metals price volatility, volatility of metals production and costs, exploration risks and results, political risks, project development risks, labor issues and ability to raise financing. Refer to the company's Form 10-Q and 10-K reports for a more detailed discussion of factors that may impact expected future results. These disclosures are accessible on the company's website at http://www.minesmanagement.com and at http://www.sec.gov.
SOURCE: Mines Management, Inc.

Mines Management, Inc.
Vice President Corporate Development & Investor Relations
Douglas Dobbs, 509-838-6050
info@minesmanagement.com

VANCOUVER, BRITISH COLUMBIA, Jan 16, 2008 (MARKET WIRE via COMTEX) -- NovaGold Resources Inc. (CA:NG) (NG: novagold res inc com new) and Teck Cominco Limited (CA:TCK.A) (CA:TCK.B) (TCK: teck cominco ltd cl b) today announced the appointment of a highly experienced senior management team to lead the Galore Creek project through the next phase of evaluation and optimization. NovaGold and Teck Cominco have appointed Mr. Pol Guzman as President & General Manager and Mr. Gary Ward as Project Director of the Galore Creek Mining Corporation.
Mr. Guzman and Mr. Ward have joined the Galore Creek team to lead an aggressive review of Galore Creek's development with the objective of producing a modified construction approach and execution plan that will deliver enhanced financial returns. This work will begin immediately.
Mr. Guzman is an internationally recognized senior project executive with in-depth experience in several complex and large-scale mine development projects. A mechanical engineer by training, Mr. Guzman brings with him decades of experience in the optimization, design and execution of mining projects, including the Escondida and Antamina mines in Latin America, where he served as Project Director during construction.
Mr. Ward brings over 40 years of project execution experience to the Galore Creek project. Mr. Ward has managed feasibility study updates, value improvement exercises and construction coordination, often in multicultural environments, and most recently as Project Director for the expansion of the Paracatu project in Brazil.
"I am very optimistic that this outstanding leadership team will be able to view the project with a fresh perspective and draw on their extensive experience to identify a path forward that will deliver clear value for both partners," said Rick Van Nieuwenhuyse, President & CEO of NovaGold.
"The appointment of two professionals with the breadth of experience that Pol and Gary bring to Galore Creek demonstrates clearly that both NovaGold and Teck Cominco remain fully committed to unlocking the potential of the Galore Creek resource as rapidly as possible," said Don Lindsay, President & CEO of Teck Cominco.
NovaGold and Teck Cominco would like to thank Doug Brown for his exceptional efforts in leading the Galore Creek project since the formation of the partnership in mid-2007. The project was operated to the highest environmental and safety standards and achieved significant progress under Mr. Brown's leadership. As the Galore Creek project moves into this phase of optimization and re-engineering, Mr. Brown will return to his role as Vice President Business Development for NovaGold but will remain actively involved in Galore Creek through its management committees.
Substantial value was added to the project during the 2007 construction season, including clearing 80% of the 135-kilometer road right-of-way, completing 66 kilometers of pioneer road, installing a number of key bridges and initiating work on the road access tunnel into the Galore Creek Valley. During the construction suspension and optimization period, the partners will maintain the existing infrastructure to ensure the project can be restarted quickly and efficiently as soon as a modified construction approach is defined and approved.
As a result of the decision to reassess the feasibility study and project economics, all of Galore Creek's proven and probable reserves have been reclassified as measured and indicated resources (see NovaGold's resource table at http://www.novagold.net). As a result, NovaGold expects to be filing a National Instrument 43-101 report prior to January 31, 2008. In the interim, the information contained in the Galore Creek Feasibility Study completed by Hatch Ltd. in October 2006 should not be relied upon.
About NovaGold
NovaGold is a gold and copper company engaged in the exploration and development of mineral properties in Alaska and Western Canada. Production is scheduled for 2008 at the 100%-owned Nome Operations in Alaska, which includes the Rock Creek, Big Hurrah and Nome Gold deposits. NovaGold owns 50% of the Donlin Creek gold project in Alaska, one of the world's largest gold deposits, with Barrick Gold (50%). The Company also owns 50% of the Galore Creek copper-gold-silver project in British Columbia with Teck Cominco (50%). Also in Alaska, NovaGold is earning a 51% interest as manager of the high-grade Ambler copper-zinc-silver-gold project in partnership with Rio Tinto. NovaGold has one of the largest resource bases of any exploration or development-stage precious metals company. NovaGold trades on the TSX and AMEX under the symbol NG.