Mines Management, Inc. Stock
November 17, 2009 By Leave a Comment
MINES MANAGEMENT, INC. announced today that it has withdrawn its previously announced public offering of 6,000,000 shares of common stock. The terms presented by the underwriters did not meet the minimum expectation of net proceeds.
The Company’s President and Chief Executive Officer, Mr. Glenn M. Dobbs, stated, “While we were gratified with the strong support for the offering, potential pricing would have required unacceptable levels of dilution to current stockholders. We are fortunate that our balance sheet remains strong as we work to advance the Montanore Silver-Copper Project, with approximately US$14 million in cash and cash equivalents, and no material debt. We will continue to focus our efforts on preparations for the underground drilling program and re-permitting efforts as we advance the Montanore toward development.” [Read more...]
Newmont Peru Gold Mine
November 13, 2009 By Leave a Comment
Newmont expects steady output from Peru gold mine
LIMA (Reuters) -
Newmont Mining Corp (NEM.N: Quote) said on Thursday it expects output at Yanacocha -- one of Latin America's largest gold mines -- to hold steady in the next few years, contradicting an earlier forecast made by its partner.
Yanacocha, run jointly by U.S.-based Newmont and Peruvian precious metals miner Buenaventura (BUEv.LM: Quote) (BVN.N: Quote), reported sales of 1.8 million ounces of gold last year.
"This year, we're going to have something similar to 2008 production ... and for the next few years, we're going to maintain levels of around 1.8, 1.9 million ounces," Carlos Santa Cruz, Newmont's vice president of South American operations, told reporters. [Read more...]
Robex Resources Inc. on the Nampala
November 12, 2009 By Leave a Comment
Robex Resources Inc. announce that it has completed the preparatory phase of the drilling campaign planned for the Nampala gold deposit located on the Mininko permit, in the Republic of Mali. Robex is now preparing to commence its drilling campaign with the intent of increasing the quality of the resources contained within a portion of the Nampala deposit.
Randgold Resources: Fast Track Mali Project
November 10, 2009 By Leave a Comment
Reports rising costs but a swing to profit in Q3
LONDON (Reuters) -
Gold miner Randgold Resources (RRS.L) swung into a profit in the third quarter as higher gold sales outweighed rising costs.
It also said on Tuesday it will fast-track its Gounkoto project in Mali and plans to complete a pre-feasibility study on the project, situated 25 kilometres south of the company's flagship Loulo complex, by the end of the first quarter of 2010.
The only pure gold producer in the FTSE 100 index said it moved into a profit of $13.6 million from a loss of $684,000 a year ago. [Read more...]
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