Soltera Mining (OTC:SLTA.PK; FRANKFURT:SN7) Moves to Produce Gold from Surface Deposits at El Torno, Argentina
Jujuy, Argentina - April 6, 2010 (Investorideas.com Mining Stocks Newswire) - - Dr. Fabio Montanari, President and CEO of Soltera Mining Corp. ( OTC: SLTA.PK; Frankfurt: SN7) ( www.solteramining.com) is pleased to announce that Soltera has signed two agreements with the El Torno mineral title owner which combined give Soltera the right to mine surficial gold at El Torno together with certain exploration rights over a prospective copper area known as Sur Eureka. The two contracts should be considered together. The net result is that Soltera has paid a total of US$150,000 to the title owner and has acquired:
the rights to mine and process gold-bearing surface deposits at El Torno in a 90%-10% joint venture with the title owner for a period of four years renewable for a further four years, and at Sur Eureka, the first right of refusal for three years (until 30 July 2013) on a 2,926 hectare property that has copper-gold potential, is located strategically within the prospective copper belt area, and is only 5 km away from the El Torno gold property.
El Torno – Joint Venture to Exploit Surficial Gold
El Torno is located in northern Argentina near the international border with Bolivia. The 78 km 2 area has potential for world-class gold deposits of two types; vein gold in a very large quartz vein system that extends intermittently north-south for 14 km and has been worked underground in the past; and dispersed gold in suites of small veins and stockworks that are separate from the main system and could be major open-pit targets. One interesting point is that the gold seems to be commonly free and some is in micro-plate form, thereby offering the possibility of recovery by simple mechanical rather than chemical processes (Ethical Gold Exploitation).
Soltera intends to fully investigate both the underground and open-pit targets, but has been limited to date by lack of funding. It should be noted that exploration of the large-scale gold targets will continue as revenue from the surficial exploitation or additional funding becomes available.
The El Torno area contains a third type of gold deposit known as elluvial which is formed of weathered material derived from gold-bearing bedrock. Broad patches of this material, usually 2 m to 3 m deep, are distributed throughout the area, commonly centred on the large open-pit targets. It is easily worked and, in fact, material from one area was extracted by the mineral title owner until three years ago when he ceased operations due to ill health. The weathered gold-bearing material was dug by back hoe and transported some 3 km to a gravity processing plant located just outside the El Torno title area.
Soltera has now formed a joint venture with the mineral title owner to extract and process the elluvial material. Full details of the agreement are available in an 8-K filed with the SEC (see SEC 8-K filing here). In essence the joint venture gives Soltera the rights to mine the surface deposits and process the material at the existing plant, with the mineral title owner receiving 10% of gold produced. The agreement is for four years renewable for another four years provided that half the elluvial material has been worked. In the event that production ceases for any reason, Soltera is entitled to take possession of the processing plant.
There is no firm data confirming the tonnage and grade potential, but there certainly appear to be substantial tonnages of surface material suitable for processing. We know that gold was produced from a part of this material using existing equipment for a period of at least two years and that the equipment is still in good condition and serviceable. Furthermore, we think it highly likely that considerable fine pure gold was lost in the recovery process and it may be possible, by using additional simple processing methods (such as spirals) to recover this gold.
Soltera will now immediately bring the existing processing equipment on-stream and carry out test-work on the source material. The objective is to achieve full production within the next two months.
Sur Eureka – Exploration Contract with an Option to Purchase
Sur Eureka is a mineral title area of 2926 hectares with some old mine workings and potential for copper and gold mineralisation, located about 5 km from El Torno. It is in a broad area of copper showings, with the main old Eureka Mine about 2 km to the north.
Exploration work carried out during 2007 and 2008 by the Soltera/TNR Gold Corp joint venture suggested that Sur Eureka is the most promising part of the copper-rich belt. Certainly, possession of the Sur Eureka property controls exploration throughout the area.
Soltera has a contract with the mineral title owner ( see SEC filing here), the main terms being that Soltera pays the mineral title owner US$150,000 (already paid) for the exclusive right to explore the property for six months (until end July 2010) and thereafter the right of first refusal to purchase the property for a period of three years.
Additional information on El Torno
The central parts of the El Torno gold-bearing quartz vein system have been worked since the Incas, resulting in approximately 1000 metres of underground galleries. The gold is concentrated in a 2 m thick zone along the western side of the system. More recent drilling and other exploration work by Pe ñoles and Puma Minerals estimated that a 1.3 km length of the vein could have the potential for over 500,000 ounces of gold to a depth of 100 m or 2 million ounces to a depth of 400 m at an assumed grade of 10 g/t gold ( non-NI 43-101 compliant). Stream sediment geochemical exploration by Soltera suggests that the vein system is mineralized throughout its full 14 km length. The potential will be tested by geophysical surveys and diamond drilling.
The Soltera stream sediment surveys also showed broad and strong gold anomalies over wide areas of the country rocks as far away as 3 km from the main vein. These are centered on suites of small veins and stockworks within the country rocks and they appear to be major open-pit targets. These targets will be tested by a programme of trenching, sampling and drilling.
Contact:
Fabio Montanari
President/CEO
Soltera Mining Corp.
1-888-768-5552
info@solteramining.com
www.solteramining.com
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Tuesday, April 06, 2010
Monday, April 05, 2010
Mining Stocks News; Goldcorp (TSX:G )(NYSE:GG) Declares Fourth Monthly Dividend Payment for 2010
Mining Stocks News; Goldcorp (TSX:G )(NYSE:GG) Declares Fourth Monthly Dividend Payment for 2010
(All dollar amounts in United States dollars (US$))
VANCOUVER, BRITISH COLUMBIA--04/05/10- ( Investorideas.com Mining Stocks newswire ) GOLDCORP INC. (TSX:G )(NYSE:GG) is pleased to declare its fourth monthly dividend payment for 2010 of $0.015 per share. Shareholders of record at the close of business on Thursday, April 15, 2010 will be entitled to receive payment of this dividend on Friday, April 23, 2010. Goldcorp has paid a monthly dividend to its shareholders since 2003. Canadian resident individuals who receive dividends from Goldcorp after 2005 are entitled to an enhanced gross-up and dividend tax credit on such dividends.
Goldcorp is North America's fastest growing senior gold producer. Its low-cost gold production is located in safe jurisdictions in the Americas and remains 100% unhedged.
Cautionary Note Regarding Forward Looking Statements
This press release contains "forward-looking statements", within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation, concerning the business, operations and financial performance and condition of Goldcorp. Forward-looking statements include, but are not limited to, statements with respect to the future price of gold, silver, copper, lead and zinc, the estimation of mineral reserves and resources, the realization of mineral reserve estimates, the timing and amount of estimated future production, costs of production, capital expenditures, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, hedging practices, currency exchange rate fluctuations, requirements for additional capital, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, timing and possible outcome of pending litigation, title disputes or claims and limitations on insurance coverage. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved".
Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Goldcorp to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the integration of acquisitions; risks related to international operations; risks related to joint venture operations; actual results of current exploration activities; actual results of current reclamation activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of gold, silver, copper, lead and zinc; possible variations in ore reserves, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of development or construction activities, as well as those factors discussed in the section entitled "Description of the Business - Risk Factors" in Goldcorp's Annual Information Form for the year ended December 31, 2009, available on http://www.sedar.com/, and Form 40-F for the year ended December 31, 2009 on file with the United States Securities and Exchange Commission in Washington, D.C. Although Goldcorp has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Goldcorp does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.
____________________________________
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(All dollar amounts in United States dollars (US$))
VANCOUVER, BRITISH COLUMBIA--04/05/10- ( Investorideas.com Mining Stocks newswire ) GOLDCORP INC. (TSX:G )(NYSE:GG) is pleased to declare its fourth monthly dividend payment for 2010 of $0.015 per share. Shareholders of record at the close of business on Thursday, April 15, 2010 will be entitled to receive payment of this dividend on Friday, April 23, 2010. Goldcorp has paid a monthly dividend to its shareholders since 2003. Canadian resident individuals who receive dividends from Goldcorp after 2005 are entitled to an enhanced gross-up and dividend tax credit on such dividends.
Goldcorp is North America's fastest growing senior gold producer. Its low-cost gold production is located in safe jurisdictions in the Americas and remains 100% unhedged.
Cautionary Note Regarding Forward Looking Statements
This press release contains "forward-looking statements", within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation, concerning the business, operations and financial performance and condition of Goldcorp. Forward-looking statements include, but are not limited to, statements with respect to the future price of gold, silver, copper, lead and zinc, the estimation of mineral reserves and resources, the realization of mineral reserve estimates, the timing and amount of estimated future production, costs of production, capital expenditures, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, hedging practices, currency exchange rate fluctuations, requirements for additional capital, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, timing and possible outcome of pending litigation, title disputes or claims and limitations on insurance coverage. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved".
Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Goldcorp to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the integration of acquisitions; risks related to international operations; risks related to joint venture operations; actual results of current exploration activities; actual results of current reclamation activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of gold, silver, copper, lead and zinc; possible variations in ore reserves, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of development or construction activities, as well as those factors discussed in the section entitled "Description of the Business - Risk Factors" in Goldcorp's Annual Information Form for the year ended December 31, 2009, available on http://www.sedar.com/, and Form 40-F for the year ended December 31, 2009 on file with the United States Securities and Exchange Commission in Washington, D.C. Although Goldcorp has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Goldcorp does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.
____________________________________
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Thursday, April 01, 2010
27.3 METRES OF 4.88 G/T GOLD DRILLED ON ALTO VENTURES (ATV: TSX-V) COLDSTREAM PROPERTY
Mining Stocks News ;27.3 METRES OF 4.88 G/T GOLD DRILLED ON ALTO VENTURES (ATV: TSX-V) COLDSTREAM PROPERTY
27.28 m wide zone averaging 4.88 g/t gold; includes 13.55 g/t gold over 3.0 m
47.25 m wide zone averaging 1.3 g/t gold of multiple higher-grade sections including 11.80 g/t gold over 1.20 m
Results still pending for seven drill holes
Vancouver B.C. - April 1, 2010 (Investorideas.com Mining stocks newswire) - Alto Ventures Ltd. (ATV: TSX-V) is pleased to announce the results for the first two holes of the recently completed diamond drilling program on the East Coldstream Deposit ("Deposit") at the Coldstream Property in Ontario. Foundation Resources Inc (FDN: TSX-V) is the operator and is funding this exploration program to earn an interest in the project.
The first two holes (C-10-14 and C-10-15) are located 50 m apart from each other and were drilled at the Main Zone of the Deposit. Both drill holes intersected wide zones of gold mineralization which include multiple higher grade sections. Gold in both drill holes is associated with 1 to 8 percent disseminated pyrite and occurs within strongly sheared and hydrothermally altered (silica, albite, sericite, magnetite and hematite) mafic to intermediate metavolcanics and quartz-feldspar porphyry intrusive rocks. Significant results are as follows:
Table of Significant Gold Assays from the First Two Holes of the 2010 Winter Drilling Program
Full news : http://www.investorideas.com/news/mining/4018.asp
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27.28 m wide zone averaging 4.88 g/t gold; includes 13.55 g/t gold over 3.0 m
47.25 m wide zone averaging 1.3 g/t gold of multiple higher-grade sections including 11.80 g/t gold over 1.20 m
Results still pending for seven drill holes
Vancouver B.C. - April 1, 2010 (Investorideas.com Mining stocks newswire) - Alto Ventures Ltd. (ATV: TSX-V) is pleased to announce the results for the first two holes of the recently completed diamond drilling program on the East Coldstream Deposit ("Deposit") at the Coldstream Property in Ontario. Foundation Resources Inc (FDN: TSX-V) is the operator and is funding this exploration program to earn an interest in the project.
The first two holes (C-10-14 and C-10-15) are located 50 m apart from each other and were drilled at the Main Zone of the Deposit. Both drill holes intersected wide zones of gold mineralization which include multiple higher grade sections. Gold in both drill holes is associated with 1 to 8 percent disseminated pyrite and occurs within strongly sheared and hydrothermally altered (silica, albite, sericite, magnetite and hematite) mafic to intermediate metavolcanics and quartz-feldspar porphyry intrusive rocks. Significant results are as follows:
Table of Significant Gold Assays from the First Two Holes of the 2010 Winter Drilling Program
Full news : http://www.investorideas.com/news/mining/4018.asp
__________________________
More mining stocks info :
Resource investors can research gold and mining stocks with the mining stocks directory, featuring Gold Stocks, Silver Stocks, Uranium Stocks, Copper Stocks, Zinc Stocks and Precious Metals TSX, TSX Venture, OTC, NASDAQ, AMEX, NYSE, ASX, AIM and other leading Stock Exchanges.
http://www.investorideas.com/Gold_Stocks/Stocks_List.asp
Investors following mining stocks can purchase the mining stocks directory in a PDF format with hyperlinks to stocks symbol(s), company’s url and company’s description. The mining stocks directory page features a Paypal link and buy now button for easy online purchase.
Investors also have the option to access the directory as part of the Investor Ideas Membership premium content. The full directory is now available to Investor Ideas members as part of the annual membership that currently features an additional 9 stock directories and investor newsletter.
Mining Stocks News; MDN (TSX:MDN) Posts 2009 Financial Results
Mining Stocks News; MDN (TSX:MDN) Posts 2009 Financial Results
MONTREAL, QUEBEC--(Investorideas.com Mining Stocks Newswire) - MDN Inc. (TSX:MDN) («MDN») today released its audited financial statements for the year ended December 31, 2009. Management's discussion and analysis and the audited financial statements are available on the Company's website (www.mdn-mines.com) and on SEDAR (www.sedar.com).
Revenue for the year ended December 31, 2009 totaled $7.1 million compared with $27.3 million for the same period in 2008. MDN received a royalty equivalent to 30% of the available liquidity of the Tulawaka gold mine, or $6.9 million plus interest revenue of $155,436 from investments.
The Tulawaka gold mine produced a total of 748,000 ounces of gold since the beginning of operations as an open pit in 2005. The year 2009 was the first year as an underground operation and ramps and galleries were completed down to the 7th level. Gold extraction from stopes took place in majority from the top three levels and underground exploration allowed the 2009 extracted reserves to be replaced.
Tulawaka's life of mine as of December 31, 2009 was estimated at approximately two years based on its proven and probable reserves. However, based on current successful underground drilling results, a plan to extend underground exploration drilling is being developed to define the potential for life of mine extensions. The Tulawaka mine carries no debt.
Working capital as of December 31st, 2009 amounted to 19.8 million dollars.
SUMMARY OF OPERATING RESULTS
For the year ended December 31 2009 2008
(In thousands of dollars, except for per share amounts)
Revenue 7,110 27,257
Administrative expenses 4,091 4,356
Royalties on gold price - 4,929
Foreign exchange loss (gain) 363 (972 )
Net income (loss) 824 22,957
Net earnings (net loss) per share, basic and fully diluted 0.009 0.239
Weighted-average number of shares outstanding (in thousands) 94,839 91,678
Summary results of the Tulawaka gold mine (100%)
MDN's participating interest is 30%
For the year ended December 31 2009 2008
Gold production (oz) 94,180 211,373
Gold sales (oz) 93,355 212,913
Average sales price / oz (in $ US) 966 880
Total revenues (in millions of $ US) 90.2 187.5
Serge Bureau, President and CEO of MDN commented "The year 2009 was a transition year for the Tulawaka gold mine as operations moved from open pit to underground mining. Nonetheless, MDN's strategy remains the same: to be a growing junior gold company with the uniqueness of having its exploration programs fully funded by a stable source of revenues. We are committed to remain a gold explorer, with a potential source of cash from two good mining assets, one in operation and the other moving forward with the development of the Crevier project, a secure North American source of strategic metals."
Exploration in Tanzania
Drilling programs of 2009 were mainly focused on Isambara, a 40 km2 property owned 100% by MDN and located 28 km north of the Tulawaka mine. MDN discovered a gold mineralization zone in the southern part of a soil anomaly of great dimension, which extends 3 km by 4 km. A follow-up drilling program will be initiated in 2010. Overall, MDN plans to drill 12,000 meters in 2010 on Isambara, Viyonza and Msasa properties, more than twice the drilling program of 2009.
At Ikungu, a 17.9 km2 property MMI data and drilling results confirm that gold mineralization extends over at least 2.5 km. This gold structure bears an excellent potential for a discovery by MDN and about 2,500 m of drilling is in progress on the property during 2010.
The Tulawaka project is a contractual joint-venture between MDN (30% participating interest) and Pangea Goldfields Inc. (70% participating interest), a wholly owned indirect subsidiary of African Barrick Gold plc and project operator and owner through its subsidiary Pangea Minerals Ltd. The information disclosed on the Tulawaka Gold Mine is based on information provided by the Operator.
About MDN
MDN Inc.(TSX:MDN) is a mining exploration and development company with adequate financial resources to develop its promising projects in Québec and in Tanzania. MDN also remains active in the search for new business opportunities that can raise shareholder value. In addition to its 30% participation in the Tulawaka Gold Mine, MDN is the operator and owner of a majority interest in mineral licenses totalling 715 km2 around the Tulawaka gold mine in Tanzania. The company also owns a 67.5% interest in Minéraux Crevier Inc., which owns a property with a NI 43-101 niobium and tantalum resource located in the Lac St-Jean area of Québec. MDN has an option to increase its equity participation in Minéraux Crevier Inc. up to 87.5%. Additional information is available on MDN's website at www.mdn-mines.com.
Forward looking statements All statements in this release, other than statements of historical fact, that address events or developments that the Company expects to occur, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements are discussed in greater detail in the Company's most recent Annual Information Form filed on SEDAR, which also provides additional general assumptions in connection with these statements. Investors and others who base themselves on the Company's forward-looking statements should carefully consider the factors mentioned in the Annual Information Form as well as the uncertainties they represent and the risk they entail. The Company believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon. These statements speak only as of the date of this press release.
__________________________________________________
More Mining Stocks Info:
Resource investors can research gold and mining stocks with the mining stocks directory, featuring Gold Stocks, Silver Stocks, Uranium Stocks, Copper Stocks, Zinc Stocks and Precious Metals TSX, TSX Venture, OTC, NASDAQ, AMEX, NYSE, ASX, AIM and other leading Stock Exchanges.
Investors following mining stocks can purchase the mining stocks directory in a PDF format with hyperlinks to stocks symbol(s), company’s url and company’s description. The mining stocks directory page features a Paypal link and buy now button for easy online purchase.
Investors also have the option to access the directory as part of the Investor Ideas Membership premium content. The full directory is now available to Investor Ideas members as part of the annual membership that currently features an additional 9 stock directories and investor newsletter.
MONTREAL, QUEBEC--(Investorideas.com Mining Stocks Newswire) - MDN Inc. (TSX:MDN) («MDN») today released its audited financial statements for the year ended December 31, 2009. Management's discussion and analysis and the audited financial statements are available on the Company's website (www.mdn-mines.com) and on SEDAR (www.sedar.com).
Revenue for the year ended December 31, 2009 totaled $7.1 million compared with $27.3 million for the same period in 2008. MDN received a royalty equivalent to 30% of the available liquidity of the Tulawaka gold mine, or $6.9 million plus interest revenue of $155,436 from investments.
The Tulawaka gold mine produced a total of 748,000 ounces of gold since the beginning of operations as an open pit in 2005. The year 2009 was the first year as an underground operation and ramps and galleries were completed down to the 7th level. Gold extraction from stopes took place in majority from the top three levels and underground exploration allowed the 2009 extracted reserves to be replaced.
Tulawaka's life of mine as of December 31, 2009 was estimated at approximately two years based on its proven and probable reserves. However, based on current successful underground drilling results, a plan to extend underground exploration drilling is being developed to define the potential for life of mine extensions. The Tulawaka mine carries no debt.
Working capital as of December 31st, 2009 amounted to 19.8 million dollars.
SUMMARY OF OPERATING RESULTS
For the year ended December 31 2009 2008
(In thousands of dollars, except for per share amounts)
Revenue 7,110 27,257
Administrative expenses 4,091 4,356
Royalties on gold price - 4,929
Foreign exchange loss (gain) 363 (972 )
Net income (loss) 824 22,957
Net earnings (net loss) per share, basic and fully diluted 0.009 0.239
Weighted-average number of shares outstanding (in thousands) 94,839 91,678
Summary results of the Tulawaka gold mine (100%)
MDN's participating interest is 30%
For the year ended December 31 2009 2008
Gold production (oz) 94,180 211,373
Gold sales (oz) 93,355 212,913
Average sales price / oz (in $ US) 966 880
Total revenues (in millions of $ US) 90.2 187.5
Serge Bureau, President and CEO of MDN commented "The year 2009 was a transition year for the Tulawaka gold mine as operations moved from open pit to underground mining. Nonetheless, MDN's strategy remains the same: to be a growing junior gold company with the uniqueness of having its exploration programs fully funded by a stable source of revenues. We are committed to remain a gold explorer, with a potential source of cash from two good mining assets, one in operation and the other moving forward with the development of the Crevier project, a secure North American source of strategic metals."
Exploration in Tanzania
Drilling programs of 2009 were mainly focused on Isambara, a 40 km2 property owned 100% by MDN and located 28 km north of the Tulawaka mine. MDN discovered a gold mineralization zone in the southern part of a soil anomaly of great dimension, which extends 3 km by 4 km. A follow-up drilling program will be initiated in 2010. Overall, MDN plans to drill 12,000 meters in 2010 on Isambara, Viyonza and Msasa properties, more than twice the drilling program of 2009.
At Ikungu, a 17.9 km2 property MMI data and drilling results confirm that gold mineralization extends over at least 2.5 km. This gold structure bears an excellent potential for a discovery by MDN and about 2,500 m of drilling is in progress on the property during 2010.
The Tulawaka project is a contractual joint-venture between MDN (30% participating interest) and Pangea Goldfields Inc. (70% participating interest), a wholly owned indirect subsidiary of African Barrick Gold plc and project operator and owner through its subsidiary Pangea Minerals Ltd. The information disclosed on the Tulawaka Gold Mine is based on information provided by the Operator.
About MDN
MDN Inc.(TSX:MDN) is a mining exploration and development company with adequate financial resources to develop its promising projects in Québec and in Tanzania. MDN also remains active in the search for new business opportunities that can raise shareholder value. In addition to its 30% participation in the Tulawaka Gold Mine, MDN is the operator and owner of a majority interest in mineral licenses totalling 715 km2 around the Tulawaka gold mine in Tanzania. The company also owns a 67.5% interest in Minéraux Crevier Inc., which owns a property with a NI 43-101 niobium and tantalum resource located in the Lac St-Jean area of Québec. MDN has an option to increase its equity participation in Minéraux Crevier Inc. up to 87.5%. Additional information is available on MDN's website at www.mdn-mines.com.
Forward looking statements All statements in this release, other than statements of historical fact, that address events or developments that the Company expects to occur, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements are discussed in greater detail in the Company's most recent Annual Information Form filed on SEDAR, which also provides additional general assumptions in connection with these statements. Investors and others who base themselves on the Company's forward-looking statements should carefully consider the factors mentioned in the Annual Information Form as well as the uncertainties they represent and the risk they entail. The Company believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon. These statements speak only as of the date of this press release.
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TASEKO MINES (TSX: TKO; NYSE Amex: TGB) COMPLETES GIBRALTAR MINE JOINT VENTURE WITH JAPANESE CONSORTIUM
MINING STOCKS NEWS; TASEKO MINES (TSX: TKO; NYSE Amex: TGB) COMPLETES GIBRALTAR MINE JOINT VENTURE WITH JAPANESE CONSORTIUM
April 1, 2010, Vancouver, BC – ( Investorideas.com Mining Stocks Newswire ) Taseko Mines Limited (TSX: TKO; NYSE Amex: TGB) ("Taseko" or the "Company") wishes to announce that the previously disclosed transaction to sell 25% of the Gibraltar Copper Mine to a Japanese Consortium (Sojitz Corporation – 50%, Dowa Metals & Mining Co., Ltd. – 25%, Furukawa Co., Ltd. – 25%) for approximately C$187 million closed on March 31, 2010. Taseko will continue to be the operator of Gibraltar. A portion of these proceeds has been used to prepay Taseko’s US$50 million long-term Credit Facility provided by Credit Suisse and Investec.
Russell Hallbauer, President and CEO of Taseko commented, “I am very pleased to be entering into
this long-term relationship with world-class partners – Sojitz, Dowa and Furukawa. Additionally, our
favourable debt free balance sheet today will maximize our cash flow from Gibraltar, particularly in
the current copper pricing environment. After the repayment of our credit facility, cash on hand today
is approximately C$190 million. This cash secures a significant portion of the required capital to fund
the construction of our wholly-owned Prosperity Gold-Copper Project.”
For further information on Taseko, please see the Company's website www.tasekomines.com or contact: Brian Bergot, Investor Relations – 778-373-4545, Toll Free 1-800-667-2114.
No regulatory authority has approved or disapproved of the information contained in this news release.
Forward Looking Statements
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release,other than statements of historical facts, that address intended future agreements, future production, reserve potential,exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially
from those in forward-looking statements include capital market conditions, commodities market prices, exploitation and exploration successes, lack of continuity of mineralization, completion of the mill upgrade on time estimated and at scheduled cost, continued availability of capital and financing, and general economic, market or business conditions.Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward looking statements. For more information on the Company, Investors should review the Company's annual Form 40-F filing with the United States Securities and Exchange
Commission or the Company’s home jurisdiction filings at http://www.sedar.com/.
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Resource investors can research gold and mining stocks with the mining stocks directory, featuring Gold Stocks, Silver Stocks, Uranium Stocks, Copper Stocks, Zinc Stocks and Precious Metals TSX, TSX Venture, OTC, NASDAQ, AMEX, NYSE, ASX, AIM and other leading Stock Exchanges.
Investors following mining stocks can purchase the mining stocks directory in a PDF format with hyperlinks to stocks symbol(s), company’s url and company’s description. The mining stocks directory page features a Paypal link and buy now button for easy online purchase.
Investors also have the option to access the directory as part of the Investor Ideas Membership premium content. The full directory is now available to Investor Ideas members as part of the annual membership that currently features an additional 9 stock directories and investor newsletter.
April 1, 2010, Vancouver, BC – ( Investorideas.com Mining Stocks Newswire ) Taseko Mines Limited (TSX: TKO; NYSE Amex: TGB) ("Taseko" or the "Company") wishes to announce that the previously disclosed transaction to sell 25% of the Gibraltar Copper Mine to a Japanese Consortium (Sojitz Corporation – 50%, Dowa Metals & Mining Co., Ltd. – 25%, Furukawa Co., Ltd. – 25%) for approximately C$187 million closed on March 31, 2010. Taseko will continue to be the operator of Gibraltar. A portion of these proceeds has been used to prepay Taseko’s US$50 million long-term Credit Facility provided by Credit Suisse and Investec.
Russell Hallbauer, President and CEO of Taseko commented, “I am very pleased to be entering into
this long-term relationship with world-class partners – Sojitz, Dowa and Furukawa. Additionally, our
favourable debt free balance sheet today will maximize our cash flow from Gibraltar, particularly in
the current copper pricing environment. After the repayment of our credit facility, cash on hand today
is approximately C$190 million. This cash secures a significant portion of the required capital to fund
the construction of our wholly-owned Prosperity Gold-Copper Project.”
For further information on Taseko, please see the Company's website www.tasekomines.com or contact: Brian Bergot, Investor Relations – 778-373-4545, Toll Free 1-800-667-2114.
No regulatory authority has approved or disapproved of the information contained in this news release.
Forward Looking Statements
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release,other than statements of historical facts, that address intended future agreements, future production, reserve potential,exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially
from those in forward-looking statements include capital market conditions, commodities market prices, exploitation and exploration successes, lack of continuity of mineralization, completion of the mill upgrade on time estimated and at scheduled cost, continued availability of capital and financing, and general economic, market or business conditions.Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward looking statements. For more information on the Company, Investors should review the Company's annual Form 40-F filing with the United States Securities and Exchange
Commission or the Company’s home jurisdiction filings at http://www.sedar.com/.
__________________________
More mining stocks info:
Resource investors can research gold and mining stocks with the mining stocks directory, featuring Gold Stocks, Silver Stocks, Uranium Stocks, Copper Stocks, Zinc Stocks and Precious Metals TSX, TSX Venture, OTC, NASDAQ, AMEX, NYSE, ASX, AIM and other leading Stock Exchanges.
Investors following mining stocks can purchase the mining stocks directory in a PDF format with hyperlinks to stocks symbol(s), company’s url and company’s description. The mining stocks directory page features a Paypal link and buy now button for easy online purchase.
Investors also have the option to access the directory as part of the Investor Ideas Membership premium content. The full directory is now available to Investor Ideas members as part of the annual membership that currently features an additional 9 stock directories and investor newsletter.
Wednesday, March 31, 2010
Mining Stocks; New Gold (TSX and NYSE AMEX: NGD) Announces Update Related to Sale of Amapari Mine
Mining Stocks; New Gold (TSX and NYSE AMEX: NGD) Announces Update Related to Sale of Amapari Mine
*All figures are in US dollars unless otherwise stated
VANCOUVER, March 31 ( Investorideas.com mining stocks newswire ) - New Gold Inc. ("New Gold") (TSX and NYSE AMEX: NGD) today announces that Beadell Resources Ltd. ("Beadell") has received bids from investors to subscribe for at least A$57 million of ordinary shares of Beadell in relation to the previously-disclosed sale of New Gold's Brazilian subsidiary Mineração Pedra Branca do Amapari Ltda. ("MPBA"), which holds the Amapari mine and other related assets. Due to increased volatility in the gold market since the initial transaction announcement in January 2010, certain terms of the transaction have been revised and New Gold expects to receive $37 million in cash and $16 million in Beadell shares as consideration for the sale of MPBA, versus $46 million in cash and $17 million in Beadell shares as previously disclosed. Under the revised terms, New Gold will hold approximately 19.9% of Beadell. New Gold's objective of receiving meaningful cash proceeds for the non-core Amapari asset is expected to be realized, subject to closing, and under the revised terms New Gold should have a greater share of Beadell equity and related participation in the future success of Amapari. Beadell is an Australian listed gold-focused company with exploration and development assets in Western Australia and Brazil.
"We are pleased that Beadell has completed the book build and, upon closing, the cash proceeds will only help to further enhance our financial flexibility," stated Randall Oliphant, Executive Chairman. "We have been successful in monetizing a non-core asset for meaningful cash proceeds and also remain keen to participate as shareholders of Beadell and look forward to the group's future success at Amapari as well as their other assets."
Beadell shareholders formally approved the equity offering and related transaction at a Shareholder Meeting held on March 12, 2010 and the transaction is expected to close by mid-April.
About New Gold (TSX and NYSE AMEX: NGD)
New Gold is an intermediate gold mining company with the Mesquite Mine in the United States, Cerro San Pedro Mine in Mexico and Peak Gold Mines in Australia. The company is expected to produce between 330,000 and 360,000 ounces of gold in 2010, growing to over 400,000 ounces in 2012. In addition, New Gold has a strong portfolio of development and exploration assets in North and South America. For further information on the company, please visit http://www.newgold.com/.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain information contained in this news release, including any information relating to New Gold's future financial or operating performance may be deemed "forward looking". All statements in this news release, other than statements of historical fact, that address events or developments that New Gold expects to occur, are "forward-looking statements". Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "does not expect", "plans", "anticipates", "does not anticipate", "believes", "intends", "estimates", "projects", "potential", "scheduled", "forecast", "budget" and similar expressions, or that events or conditions "will", "would", "may", "could", "should" or "might" occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are subject to important risk factors and uncertainties, many of which are beyond New Gold's ability to control or predict. Forward-looking statements are necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause New Gold's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Such factors include, without limitation: significant capital requirements; fluctuations in the international currency markets and in the rates of exchange of the currencies of Canada, the United States, Australia, Brazil, Mexico and Chile; price volatility in the spot and forward markets for commodities; impact of any hedging activities, including margin limits and margin calls; discrepancies between actual and estimated production, between actual and estimated reserves and resources and between actual and estimated metallurgical recoveries; changes in national and local government legislation in Canada, the United States, Australia, Brazil, Mexico and Chile or any other country in which New Gold currently or may in the future carry on business; taxation; controls, regulations and political or economic developments in the countries in which New Gold does or may carry on business; the speculative nature of mineral exploration and development, including the risks of obtaining and maintaining the validity and enforceability of the necessary licenses and permits and complying with the permitting requirements of each jurisdiction that New Gold operates, including, but not limited to, Mexico, where New Gold is involved with ongoing challenges relating to its environmental impact statement for the Cerro San Pedro Mine; the lack of certainty with respect to the Mexican and other foreign legal systems, which may not be immune from the influence of political pressure, corruption or other factors that are inconsistent with the rule of law; the uncertainties inherent to current and future legal challenges the company is or may become a party to, including the third party claim related to the El Morro transaction with respect to New Gold's exercise of its right of first refusal on the El Morro copper-gold project in Chile and its partnership with Goldcorp Inc., which transaction and third party claim were announced by New Gold in January 2010; diminishing quantities or grades of reserves; competition; loss of key employees; additional funding requirements; actual results of current exploration or reclamation activities; changes in project parameters as plans continue to be refined; accidents; labour disputes; defective title to mineral claims or property or contests over claims to mineral properties. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion losses (and the risk of inadequate insurance or inability to obtain insurance to cover these risks) as well as "Risks Factors" included in New Gold's Annual Information Form filed on March 26, 2010 and Management Information Circular filed on April 15, 2009, both available at http://www.sedar.com/. Forward-looking statements are not guarantees of future performance, and actual results and future events could materially differ from those anticipated in such statements. All of the forward-looking statements contained in this news release are qualified by these cautionary statements. New Gold expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise, except in accordance with applicable securities laws.
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More mining stocks info:
Resource investors can research gold and mining stocks with the mining stocks directory, featuring Gold Stocks, Silver Stocks, Uranium Stocks, Copper Stocks, Zinc Stocks and Precious Metals TSX, TSX Venture, OTC, NASDAQ, AMEX, NYSE, ASX, AIM and other leading Stock Exchanges.
http://www.investorideas.com/Gold_Stocks/Stocks_List.asp
Investors following mining stocks can purchase the mining stocks directory in a PDF format with hyperlinks to stocks symbol(s), company’s url and company’s description. The mining stocks directory page features a Paypal link and buy now button for easy online purchase.
Investors also have the option to access the directory as part of the Investor Ideas Membership premium content. The full directory is now available to Investor Ideas members as part of the annual membership that currently features an additional 9 stock directories and investor newsletter.
*All figures are in US dollars unless otherwise stated
VANCOUVER, March 31 ( Investorideas.com mining stocks newswire ) - New Gold Inc. ("New Gold") (TSX and NYSE AMEX: NGD) today announces that Beadell Resources Ltd. ("Beadell") has received bids from investors to subscribe for at least A$57 million of ordinary shares of Beadell in relation to the previously-disclosed sale of New Gold's Brazilian subsidiary Mineração Pedra Branca do Amapari Ltda. ("MPBA"), which holds the Amapari mine and other related assets. Due to increased volatility in the gold market since the initial transaction announcement in January 2010, certain terms of the transaction have been revised and New Gold expects to receive $37 million in cash and $16 million in Beadell shares as consideration for the sale of MPBA, versus $46 million in cash and $17 million in Beadell shares as previously disclosed. Under the revised terms, New Gold will hold approximately 19.9% of Beadell. New Gold's objective of receiving meaningful cash proceeds for the non-core Amapari asset is expected to be realized, subject to closing, and under the revised terms New Gold should have a greater share of Beadell equity and related participation in the future success of Amapari. Beadell is an Australian listed gold-focused company with exploration and development assets in Western Australia and Brazil.
"We are pleased that Beadell has completed the book build and, upon closing, the cash proceeds will only help to further enhance our financial flexibility," stated Randall Oliphant, Executive Chairman. "We have been successful in monetizing a non-core asset for meaningful cash proceeds and also remain keen to participate as shareholders of Beadell and look forward to the group's future success at Amapari as well as their other assets."
Beadell shareholders formally approved the equity offering and related transaction at a Shareholder Meeting held on March 12, 2010 and the transaction is expected to close by mid-April.
About New Gold (TSX and NYSE AMEX: NGD)
New Gold is an intermediate gold mining company with the Mesquite Mine in the United States, Cerro San Pedro Mine in Mexico and Peak Gold Mines in Australia. The company is expected to produce between 330,000 and 360,000 ounces of gold in 2010, growing to over 400,000 ounces in 2012. In addition, New Gold has a strong portfolio of development and exploration assets in North and South America. For further information on the company, please visit http://www.newgold.com/.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain information contained in this news release, including any information relating to New Gold's future financial or operating performance may be deemed "forward looking". All statements in this news release, other than statements of historical fact, that address events or developments that New Gold expects to occur, are "forward-looking statements". Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "does not expect", "plans", "anticipates", "does not anticipate", "believes", "intends", "estimates", "projects", "potential", "scheduled", "forecast", "budget" and similar expressions, or that events or conditions "will", "would", "may", "could", "should" or "might" occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are subject to important risk factors and uncertainties, many of which are beyond New Gold's ability to control or predict. Forward-looking statements are necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause New Gold's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Such factors include, without limitation: significant capital requirements; fluctuations in the international currency markets and in the rates of exchange of the currencies of Canada, the United States, Australia, Brazil, Mexico and Chile; price volatility in the spot and forward markets for commodities; impact of any hedging activities, including margin limits and margin calls; discrepancies between actual and estimated production, between actual and estimated reserves and resources and between actual and estimated metallurgical recoveries; changes in national and local government legislation in Canada, the United States, Australia, Brazil, Mexico and Chile or any other country in which New Gold currently or may in the future carry on business; taxation; controls, regulations and political or economic developments in the countries in which New Gold does or may carry on business; the speculative nature of mineral exploration and development, including the risks of obtaining and maintaining the validity and enforceability of the necessary licenses and permits and complying with the permitting requirements of each jurisdiction that New Gold operates, including, but not limited to, Mexico, where New Gold is involved with ongoing challenges relating to its environmental impact statement for the Cerro San Pedro Mine; the lack of certainty with respect to the Mexican and other foreign legal systems, which may not be immune from the influence of political pressure, corruption or other factors that are inconsistent with the rule of law; the uncertainties inherent to current and future legal challenges the company is or may become a party to, including the third party claim related to the El Morro transaction with respect to New Gold's exercise of its right of first refusal on the El Morro copper-gold project in Chile and its partnership with Goldcorp Inc., which transaction and third party claim were announced by New Gold in January 2010; diminishing quantities or grades of reserves; competition; loss of key employees; additional funding requirements; actual results of current exploration or reclamation activities; changes in project parameters as plans continue to be refined; accidents; labour disputes; defective title to mineral claims or property or contests over claims to mineral properties. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion losses (and the risk of inadequate insurance or inability to obtain insurance to cover these risks) as well as "Risks Factors" included in New Gold's Annual Information Form filed on March 26, 2010 and Management Information Circular filed on April 15, 2009, both available at http://www.sedar.com/. Forward-looking statements are not guarantees of future performance, and actual results and future events could materially differ from those anticipated in such statements. All of the forward-looking statements contained in this news release are qualified by these cautionary statements. New Gold expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise, except in accordance with applicable securities laws.
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More mining stocks info:
Resource investors can research gold and mining stocks with the mining stocks directory, featuring Gold Stocks, Silver Stocks, Uranium Stocks, Copper Stocks, Zinc Stocks and Precious Metals TSX, TSX Venture, OTC, NASDAQ, AMEX, NYSE, ASX, AIM and other leading Stock Exchanges.
http://www.investorideas.com/Gold_Stocks/Stocks_List.asp
Investors following mining stocks can purchase the mining stocks directory in a PDF format with hyperlinks to stocks symbol(s), company’s url and company’s description. The mining stocks directory page features a Paypal link and buy now button for easy online purchase.
Investors also have the option to access the directory as part of the Investor Ideas Membership premium content. The full directory is now available to Investor Ideas members as part of the annual membership that currently features an additional 9 stock directories and investor newsletter.
Tuesday, March 30, 2010
_Mining Stocks News (TSX.V:AMU) - INITIAL DRILL PROGRAM CONFIRMS AND EXTENDS MINERALIZATION AT SIRBA GOLD PROJECT, NIGER
Mining Stocks News (TSX.V:AMU) - INITIAL DRILL PROGRAM CONFIRMS AND EXTENDS MINERALIZATION AT SIRBA GOLD PROJECT, NIGER
Vancouver, B.C. - March 30, 2010 (Investorideas.com Mining newswire) - The Company wishes to announce that it has completed its initial drill program towards earning its 51% interest in the Sirba Gold Project in Niger from Golden Star Resources.
The 25 hole drill program was designed to confirm and extend gold mineralization identified in five of the multiple targets located on both the Tialkam and Deba concessions. (see attached map). Results from holes drilled in each targeted area are listed below:
The Congo Toure Zone: The drilling target was EW trending quartz veins hosted in a series of mafic tuffs and volcanic rocks, which contain 2-3%, disseminated sulphides. Historic drilling had intersected gold mineralization in quartz vein systems and in host rock, both in the oxide and fresh zones.
Full news : http://www.investorideas.com/CO/AMU/news/3301.asp
Disclosure: AMU is a paid advertising client on Investorideas.com and our mining portals.
______________________________________________
Resource investors can research gold and mining stocks with the mining stocks directory, featuring Gold Stocks, Silver Stocks, Uranium Stocks, Copper Stocks, Zinc Stocks and Precious Metals TSX, TSX Venture, OTC, NASDAQ, AMEX, NYSE, ASX, AIM and other leading Stock Exchanges.
Investors following mining stocks can purchase the mining stocks directory in a PDF format with hyperlinks to stocks symbol(s), company’s url and company’s description. The mining stocks directory page features a Paypal link and buy now button for easy online purchase.
Investors also have the option to access the directory as part of the Investor Ideas Membership premium content. The full directory is now available to Investor Ideas members as part of the annual membership that currently features an additional 9 stock directories and investor newsletter.
Vancouver, B.C. - March 30, 2010 (Investorideas.com Mining newswire) - The Company wishes to announce that it has completed its initial drill program towards earning its 51% interest in the Sirba Gold Project in Niger from Golden Star Resources.
The 25 hole drill program was designed to confirm and extend gold mineralization identified in five of the multiple targets located on both the Tialkam and Deba concessions. (see attached map). Results from holes drilled in each targeted area are listed below:
The Congo Toure Zone: The drilling target was EW trending quartz veins hosted in a series of mafic tuffs and volcanic rocks, which contain 2-3%, disseminated sulphides. Historic drilling had intersected gold mineralization in quartz vein systems and in host rock, both in the oxide and fresh zones.
Full news : http://www.investorideas.com/CO/AMU/news/3301.asp
Disclosure: AMU is a paid advertising client on Investorideas.com and our mining portals.
______________________________________________
Resource investors can research gold and mining stocks with the mining stocks directory, featuring Gold Stocks, Silver Stocks, Uranium Stocks, Copper Stocks, Zinc Stocks and Precious Metals TSX, TSX Venture, OTC, NASDAQ, AMEX, NYSE, ASX, AIM and other leading Stock Exchanges.
Investors following mining stocks can purchase the mining stocks directory in a PDF format with hyperlinks to stocks symbol(s), company’s url and company’s description. The mining stocks directory page features a Paypal link and buy now button for easy online purchase.
Investors also have the option to access the directory as part of the Investor Ideas Membership premium content. The full directory is now available to Investor Ideas members as part of the annual membership that currently features an additional 9 stock directories and investor newsletter.
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