Beiträge von Eldorado

  • Minefinders Corporation Ltd./ MFL

    Press Release Source: Minefinders Corporation Ltd.



    Minefinders Reports on 2004 Financial Results and Operations
    Wednesday March 30, 9:01 am ET



    VANCOUVER, British Columbia--(BUSINESS WIRE)--March 30, 2005--Minefinders Corporation Ltd. (the "Company") (TSX:MFL - News; AMEX:MFN - News) reports on its financial results and operations for the year ended December 31, 2004. All dollar amounts in this news release are stated in U.S. currency.
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    2004 Financial Highlights


    The Company's financial position at December 31, 2004 remained very good, with $42.35 million in cash (2003 - $45.68 million) and net working capital of $41.76 million (2003 - $45 million). At present, the Company has 36,476,841 shares outstanding (39,916,841 shares, fully diluted).


    The principal sources of funds in 2004 were the exercise of stock options for $1.25 million, interest of $1.0 million (2003 - $0.4 million) on the high cash balances brought forward from 2003, and the recovery of value added taxes of $0.9 million. In addition, the Company had a gain of $3.03 million (2003 - $2.56 million) arising from the increase in value of the Canadian dollar, in which the Company holds almost all of its funds, against the U.S. dollar.


    The Company recorded a net loss for 2004 of $2.8 million ($0.08 per share), compared with $3.9 million ($0.12 per share) for 2003. The net loss reflects higher administration and stock option compensation costs in 2004; however, these increases were more than offset by a reduced write-off of mineral properties and exploration costs (2004 - $0.339 million; 2003 - $1.055 million) and by higher interest income earned on cash balances (2004 - $1.003 million; 2003 - $0.398 million).


    After deducting non-cash stock option compensation costs of $1.376 million in 2004 and $1.148 million in 2003, administrative costs increased from $1.826 million in 2003 to $2.025 million in 2004, as the Company expanded operations and positioned itself to move from exploration into development and production at the Dolores gold / silver project.


    Net expenditures on mineral properties increased during 2004 to $6.221 million, from $5.713 million in 2003 and $2.968 million in 2002. These amounts exclude stock option compensation expense that was charged to "Deferred Exploration Costs", and an adjustment for differences in currency exchange rates.


    This summary of financial highlights should be read in conjunction with the Company's 2004 audited financial statements and management's discussion and analysis thereof, which will be available for review on-line at http://www.sedar.com.


    Reporting Currency


    Effective January 1, 2004, the Company changed its reporting currency from the Canadian dollar to the United States dollar. Numbers contained in this News Release are presented as if this policy has been in place for all relevant periods, using U.S. dollars. The Company's financial statements are prepared in accordance with Canadian generally accepted accounting principles.


    Change in Accounting Policy


    Effective January 1, 2004, the Company adopted new Canadian accounting standards for stock option expense, and adjusted previously published numbers to include the effects of this change in the comparative numbers for previous years.


    Summary of 2004 Activities and Development


    The Company continued to focus its activities in 2004 on its Dolores gold / silver project, located in Chihuahua, Mexico. Of total expenditures in 2004, 74% was incurred on the Dolores project, 14% on properties in Northern Sonora, and 12% on properties in U.S.A. During the year, the Company conducted an extensive in-fill drilling program at Dolores to elevate "Inferred" resources to the "Measured and Indicated" category and directed a comprehensive feasibility study to bring the project to a production decision in 2005. A total of 137,070 meters of drilling have been completed at Dolores as at December 31, 2004.


    An audited mineral resource estimate for Dolores was completed in November 2004 (see News Release dated December 6, 2004) by the independent consulting firm of Roscoe Postle Associates Inc. ("RPA"). Using a cutoff grade of 0.3 grams of gold per tonne gold-equivalent, the total measured and indicated resource was 101 million tonnes, containing 2.647 million ounces of gold and 128.179 million ounces of silver. Resource estimates were prepared in compliance with the requirements of Canadian National Instrument 43-101 (the RPA report is available at http://www.sedar.com). The Dolores feasibility study will determine what portion of this resource can be economically mined and support the Company's financing of the development to production of the project. Other significant milestones in 2004 included receipt of the final metallurgical reports from SGS Lakefield Research Limited and McClelland Laboratories and the pit slope design study by Golder Associates.


    The Dolores feasibility study has taken longer than anticipated as a result of work loads experienced by the independent engineering consultants working on it and the expansion of its scope to include a mill and flotation circuit as a possible addition to a heap-leach configuration. This expansion necessitated extensive additional engineering and metallurgical test work.


    After evaluating various alternatives, the feasibility study is now being finalized on the basis of a large-scale (approximately 25,000 tonnes per day) conventional open pit, heap leach operation and is expected to be completed within the next 60 days. Upon receipt of a positive recommendation from the feasibility study, and securing such debt, or debt and equity, financing as is necessary, the Company expects to begin equipment and material procurement, project management and construction later this year.


    During 2004, the Company also conducted drilling and field work on its northern Sonora, Mexico project, at a cost of $1.25 million, and on its Clear and Dottie projects in Nevada, at a cost of $0.826 million. Initial results from the northern Sonora exploration show encouraging potential for significant silver and base-metal deposits on the Planchas de Plata and Real Viejo prospects. Program results continue to be evaluated, with follow-up work and significant exploration expenditures planned for 2005.

  • Das neue Südafrika

    Also ich spuere da nichts von geringer inflation, gerade das gegenteil.
    Es zeigt wieder wie gelogen wird, ebenso bei euch in Deutschland.


    Inflation at record low 30/03/2005 12:23 - (SA) :D


    Johannesburg - South Africa's CPIX inflation (headline inflation excluding mortgage costs) was up 3.1% year-on-year (y/y)for metro and other areas in February - the lowest CPIX ever - compared with 3.6% y/y in January, Statistics South Africa (Stats SA) said on Wednesday.
    CPIX was up 0.1% month-on-month (m/m) in February compared with a 0.5% m/m increase in January.


    Headline consumer prices - the 12-month rate of change in the consumer price index (CPI) for metropolitan areas - was up 2.6% y/y in February from a 3.0% y/y increase in January.


    The core inflation rate, which excludes volatile foods, municipal rates and monetary policy changes, was up 3.1% y/y in February compared with a 3.7%y/y rise in January.


    Inflation beats economists' expectations


    South Africa's CPIX, which is used by the South African Reserve Bank (SARB) for its inflation target, was expected to rise to 3.3% y/y, according to a survey of economists conducted by I-Net Bridge. Economists' forecasts for CPIX ranged from 3.0% y/y to 3.5% y/y.


    The February headline CPI for all items was also expected to ease with the median forecast at 2.7% y/y and the range from 2.5% y/y to 2.9% y/y.


    South African economists have racted to South Africa's consumer price index excluding mortgage rate changes (CPIX)for February.


    "The February CPIX figure was slightly better than what I had expected, most probably due to the decline in the petrol price during February. However, inflation is likely to tick up in March and April due to the petrol price in March and April," commented John Loos, Economist at Absa Bank.


    Investec economist, Annabel Bishop expects February's CPIX inflation rate to be the low point.


    "We expect petrol price hikes, indirect tax increases and rand weakness will cause CPIX to rise back above 4.0% this year. We still expect that the inflation target will be consistently achieved in 2006 and, consequently, that interest rates will remain on hold this year.


    Interest rates


    With inflation expected to be higher for the rest of the year, economists are predicting interest rates to be kept on hold after the Monetary Policy Committee meeting in April.


    "The figure is pretty much as expected, but the main concern is on the outlook for the next few months. The trend seems to be higher at the moment and I don't think this figure justifies an interest rate cut at all," said Colen Garrow, economist at Brait.


    Absa's John Loos believes there could be room for a rate cut in the second half of the year.


    "I don't see any change to the repo rate at the South African Reserve Bank's (SARB's) April meeting. I see think there is room to cut interest rates, but only in the second half of the year.


    "The SARB is waiting for a decline in local consumer spending, which I think will start coming through in the months ahead, a decline in the international oil price and a fall in the local petrol price," said Loos. ;(

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

    Auch dort geht es nun los !


    Gold Fields Limited - National Union of Mineworkers to strike at Gold Fields


    MEDIA RELEASENational Union of Mineworkers to strike at Gold Fields despite existingagreement and dialogue processJohannesburg, 30 March 2005: Gold Fields Limited (GFI: JSE and NYSE) regrets toannounce that it has been informed by the National Union of Mineworkers (NUM)that its members intend proceeding with industrial action at all Gold Fieldsoperations in South Africa, commencing at 18:00 this evening.The industrial action purports to relate to a dispute over living outallowances. In terms of an existing agreement with the NUM the current livingout allowance is set at R706 per month, and is increased annually in accordancewith the percentage increase granted in respect of wages. The NUM is demanding a70% increase in the living out allowance to R1,200 per month.Gold Fields has received legal advice that the proposed industrial action willbe unprotected as there is an existing agreement in place regulating the quantumof the living out allowance as well as the mechanism for increases associatedwith this allowance.As a consequence Gold Fields will apply for an urgent interdict against theproposed industrial action on the grounds that it believes the action to beunprotected in terms of the Labour Relations Act, due to the existence of thecurrent agreement.The proposed industrial action will affect 28,974 NUM members of whom 6,871receive living out allowances.ends

  • Gold und Silberminen im fernen Osten

    In diesen thread koennen wir ueber minengesellschaften die in China,
    Mongolia, Papua, und sogar bis zu Philippinen, diskutieren.
    Ebenso die pro und contras in dieser noch unbekannten Region.
    Ich finde diese Laender fuer sehr interessant und bin ueberzeugt das China diesen Bereich weiter ausbauen wird.


    Ich beobachte schon laengere zeit folgende Minengesellschaften:


    Minco Mining, Entree Gold, Ivanhoe, Sino Silver, Caledon Resources,Southwestern Resources,
    Goldrea Resources, Afcan Mining, Jinshan Mining, TVI Pacific.


    Bei diesen habe ich mich auch beteiligt da ich glaube sie haben Potential.


    Es gibt vielleicht schon threads von den oben genannten minen die bereits einen fuss in dieser region haben. Dort kann man die einzelnen weiter diskutieren.


    MFG


    Eldorado

  • Verbesserungsvorschlaege sowie Kritik zu Gold und Silber sowie Minenaktien (Forum)

    Ich sah vor kurzen einen bumper sticker auf einen auto :


    GOOD LUCK TO ALL WHO HATE ME


    @ bognair


    Anstatt hier weiter zu schreiben haettest du das machen sollen was du am anfang vorhattest und mir geschrieben hast.
    Einen drink und chicka in Dubai !


    Du sagtest sie ist schon aufs zimmer bestellt und hast schon leicht einen in der krone. Was war los ?... Ist sie nicht gekommen ?
    Haettest dann besser alleine schlafen gehen sollen anstatt weitere kommentare zu schreiben.Die Leute werden alle von emotionen geleitet und ich wollte den thread schliessen weil ich es wusste es wird eine weitere Dreckschmeisserei und Schlammschlacht bei der nichts rauskommt. Sometimes silence is the best answer !!
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    Jetzt hat jeder Luft abgelassen und sollte wieder nuechtern sein.
    Ich habe am anfang des threads gebeten das dieser thread kein Kotzeimer wird. ...Der Magen sollte nun leer sein, oder ?
    Ich hoffe es werden jetzt keine Rechtsanwaelte eingeschaltet da bekannt
    ist das Deutsche sehr streitsuechtig sein koennen. Jeder braucht dort eine Rechtsschutzversicherung, die ja ausgenutzt werden muss.
    Ich empfehle nun das wir den thread wirklich schliessen, es ist genug !


    Es gibt bessere dinge als weiter hier ueber Silberinfo vs Goldseiten
    zu schreiben, erst recht nicht was schnee von gestern ist.


    IT TAKES LOVE TO FORGIVE AND STRENGTH TO FORGET !


    regards


    Eldorado