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The ozzy stocks are doing well.
Sudan deal nears on two regions
Both sides have agreed on sharing wealth and power
Delegates at talks aimed at ending two decades of civil war in Sudan are said to have resolved the status of two disputed regions.
Chief mediator Lazarus Sumbeiywo says both parties have agreed on the fate of Blue Nile and Nuba Mountain provinces.
However, they have not yet agreed on the status of Abyei province.
The government and SPLA rebels have already signed an agreement on a 50-50 split of the country's wealth, including oil revenues.
Negotiators say they are hopeful that a final peace deal can be reached during the current round of negotiations, despite reports that negotiations could be postponed on Saturday.
Artillery
The BBC's Alice Muthengi said that both parties will announce details of the agreement after they conclude talks on the remaining Abyei region.
Control of the three regions is a key issue at the talks led by the leader of Sudan's People Liberation Army (SPLA) and Vice President Ali Osman Taha.
The two areas would enjoy "self-rule, autonomy and popular consultation", a rebel SPLA spokesman told Reuters news agency.
Darfur
Despite the peace talks, fighting in Darfur in western Sudan has intensified.
Violence in Darfur has prompted 110,000 to flee to Chad
The United Nations says that a further 15,000 people have fled Darfur in the past week taking the total number of refugees to have poured into neighbouring Chad since fighting resumed in recent months to 110,000.
"This is one of the biggest influxes of refugees. It is due to attacks by the Sudanese army," said Albert Katumba a protection officer with the UN refugee agency (UNHCR).
SLA rebels say they want to end alleged government discrimination in Darfur region.
Sudan Gold
"Several international and local companies are presently applying or negotiating agreements with the Sudanese Government to explore and exploit gold prospects in different parts of the country. As a result of talking place at Deweisshat, Wadi Gabgaba and Wadi Naba in the Nubian Desert by the French BRGM for gold and base metal sulphidies, at Abu Sari for gold by chinese companies and Hofrat En Nahas in south west Darfur by the British Billiton company."
http://www.sudani.co.za/Trade%20and%20Investment/Areas%20of%20Investment/Gold%20Sector.htm
"General Prospecting License
This License permits prospecting for mineral deposits in any piece of land bound by latitudes and longitudes within the territory of Sudan The license is valid for one year, and is renewable for a second year.
Fee 25,000 Sudanese Dinars Renewable 25,000 Sudanese Dinars."
25,000 Sudanese Dinars = $125.00 CAD
Put SGC on that list as well apparently.
http://www.investorshub.com/boards/read_msg.asp?message_id=2193776
NSU a Calandra pick suffering the "Calandra effect"
http://www.investorshub.com/boards/read_msg.asp?message_id=2193084
MarketWatch.com commentator Calandra resigns
Internal probe sparked by SEC request for records
By CBS MarketWatch
Jan. 22, 2004
SAN FRANCISCO (CBS.MW) -- Thom Calandra, chief commentator for CBS MarketWatch and one of the founders of its parent company, resigned Thursday amid an internal probe into his trading activities that was sparked by a query from the Securities and Exchange Commission.
Calandra, 47, who for the last nine months was the author of a subscription newsletter, The Calandra Report, said in a letter to the company that he was resigning immediately.
According to the company, Calandra told MarketWatch.com executives in late December that he received a letter from the San Francisco office of the SEC. The agency asked for records of his personal stock trades, copies of his newsletter and copies of the e-mail alerts he occasionally sent to his subscribers. MarketWatch.com (MKTW: news, chart, profile) launched an internal investigation the following day.
MarketWatch.com CEO Larry Kramer said Calandra missed a Thursday morning deadline to turn in his trading records to the company as part of the investigation.
Helane Morrison, district administrator for the San Francisco office of the SEC, said the agency had no comment. The SEC has in the past probed records of newsletter editors to determine whether they improperly profited from trading stock in companies they wrote about.
"I've worked hard for the past eight years helping to build MarketWatch and for the last year I've worked hard creating The Calandra Report," Calandra said. "While it's been tremendously rewarding professionally, it has also been stressful. And the SEC's informal inquiry adds to this stress. So I've decided to take this time off to focus on my family, whom I adore. I look forward to the conclusion of the SEC's inquiry."
MarketWatch.com said it received a letter last week from the SEC asking for a copy of its policy regulating trading by journalists and for any e-mails involving Calandra that discussed that policy. The policy, which is posted online, prohibits journalists from trading shares of any company if they are aware that a story about that company is going to be published. They are also prohibited from trading shares of that company for 48 hours after a story appears. Beat reporters are also barred from owning shares of companies within the industries they cover.
As a newsletter writer, Calandra was allowed to purchase the stocks that he covered as long as he disclosed his intentions to his readers, the company said. MarketWatch.com said it ordered Calandra to stop trading entirely two days after he received the SEC letter.
"We have told the SEC we will cooperate fully," said Kramer. "We are confident we have appropriate policies. What we don't know is whether they were followed, and that's what we're trying to find out."
Calandra's resignation comes amid growing scrutiny in the business press of trading activity by journalists. Two weeks ago, CNBC tightened its trading policy for journalists, effectively barring any of its reporters from owning shares of stock. Other news organizations said they are also considering tougher policies, and MarketWatch.com Editor-In-Chief David Callaway said his journalists will soon be covered by a new, tougher policy drafted after a request last fall from the company's board of directors.
Callaway said that, because he is participating in the company's internal probe, he will recuse himself from involvement in covering the story. Any future developments will be reported by MarketWatch journalists who will be kept out of internal discussions and will be assigned to cover the story as completely, and as objectively, as is possible, he said.
MarketWatch.com stock ended the session down 9.4 percent at $9.90 on heavier than usual volume of 254,000 shares.
Calandra, a former columnist for The San Francisco Examiner and an editor for Bloomberg News in Europe, was one of three founders of MarketWatch.com, joining in 1996 when the company was known as DBC News and was a unit of Data Broadcasting Corp.
Data Broadcasting is now a part of British publishing and education giant Pearson Plc. Pearson is a significant shareholder in MarketWatch.com.
Calandra was the original editor-in-chief of the Internet financial-news company and guided it through the development of the CBS MarketWatch Web site and the initial public offering of MarketWatch.com in January 1999.
Calandra gave up day-to-day management of the news organization in April 2000 when he moved to London for MarketWatch.com to start a joint venture with The Financial Times, a unit of Pearson. The online venture, FTMarketWatch, was folded into the Financial Times after a year. Calandra returned to San Francisco in May 2001 to become chief commentator for CBS MarketWatch.
While he no longer directed news coverage, Calandra retained his editor's title until March 2003, when he launched The Calandra Report, a newsletter that departed from CBS MarketWatch's straight news format and featured Calandra's own stock recommendations.
The Calandra Report focused on dozens of companies, most of them small-cap stocks and many involved in the minerals and mining business.
MarketWatch.com said in a press release that it would discontinue the newsletter and provide prorated refunds to subscribers
Some options for my Eritrean property visit:
http://www.eritreadivers.com/start_e/index.html
re NSU
"Also, the region is rich in different kinds of marbles and has very high mineral prospects including gold. In Augaro there are some old mineshafts and machinery from the days when the Italians mined gold here."
From: http://home.planet.nl/~hans.mebrat/eritrea-gash-barka.htm
DRA ZARA GOLD PROJECT
The Zara Gold Project consists of 196 square kilometres of exploration permits in the North East African nation of Eritrea. The project tenements are located in the northern highlands of Eritrea on the Zara River and encompass several areas of artisanal gold workings. Chip and channel samples from surface materials and from within the workings have returned high-grade assay results. Of 171 samples taken, a total of 63 returned assays in excess of 1 g/t gold and of these, 20 returned assays in excess of 30 g/t gold, with a peak value of 1,185 g/t gold.
During the year Dragon reached agreement with Australian Stock Exchange listed Sub Sahara Resources, whereby Sub Sahara could earn up to 70% of Dragon’s 66.6% interest.
Minieres du Nord
Based on the chart I'd guess somebody is accumulating this one. Nice volume the last few weeks.
MDN Daily
Carlos Bertoni, MDN's CEO stated: "This strategic expansion in East Africa was based on our evaluation of Eritrea's excellent geological potential and its immature stage of exploration development. Eritrea has remained barely explored and one can still identify historic and very significant gold mineralisation with limited exploration. We see Eritrea today as Tanzania in 1997, when MDN decided to invest in East Africa. At the moment we are poised to make a production decision at Tulawaka, but we believe the company has to keep looking forward and identify new opportunities in East Africa. EMC brings a wealth of experience, insight and expertise in Eritrea, allowing an efficient entry in the country. Its properties, including a former gold producer, appear to have excellent potential and constitute a key addition to MDN's portfolio, creating new opportunities for the company".
Northern Mining Explorations Ltd. ("MDN") is in the process of acquiring, subject to due diligence, a 75% common share interest in Eritrean Minerals Corporation ("EMC"), an Eritrean corporation holding mineral rights in the State of Eritrea.
EMC holds 100% of four exploration targets in Eritrea, comprising:
The Harab Suit exploration licenses, covering an area of approximately 420 km² (160 square miles) located in the north west of Eritrea, within mixed sedimentary, volcanic and mafic-ultramafic intrusive terrain. The property encompasses an abundance of shear zones, and includes the abandoned Harab Suit gold mine developed in the late 1930's during the Italian colonial period. This mine was developed on a large ridge underlain by outcropping sheared and altered quartz porphyry diorite, containing pervasive quartz veining and pyrite-chalcopyrite disseminations.
The main shear zone of interest outcrops for a strike distance of 900 m and has an apparent width of 35 to 110 m. Geologic mapping indicates that this shear extends further south for at least nine kilometres and that it contains gold mineralisation along its length. Limited diamond drilling in 2000 investigated the continuity of the shear zone in the subsurface. One drill hole encountered a 62 m thick mineralized intersection containing four zones of significant gold mineralisation (including 6.0 m at 3.50 g/t and 5.35 m at 3.89 g/t) within an envelope of low gold mineralisation.
At the Harab Suit Centre area some 5 km to the south the structure is exposed for over 500 m and has an apparent width of 75 m. Grab sampling of the old Italian trenches indicated the presence of gold mineralisation up to 3.7 g/t. Prospecting at the Harab Suit South area, approximately 3 km further south, indicated the presence of individual metre-scale quartz veins which returned values up to 19 g/t within the southern extension of the Harab Suit shear structure.
To date, a total of eleven new sites have been identified in the area that returned significant gold values. It is intended that the Harab Suit property receive additional geologic mapping and prospecting to follow-up the new discoveries made during the 2000 program in order to define additional drill targets meriting testing in a subsequent program.
The Seroa and Seroa Hill contiguous exploration licenses are located to the north west of the Eritrean capital Asmara and cover together some 192 km² (74 square miles). They are situated along the major NNW striking Anseba River fault structure. Within the licenses there are a number of areas of intense hydrothermal alteration, breccia formation and quartz veining. These properties contain at least five areas of previous mining carried out during the Italian colonial period. Two main areas of interest include the four known Seroa mine gold workings as well as the Enjahai gold-polymetallic occurrence.
The Seroa mine sites were developed to exploit a series of flat or shallow-dipping quartz veins within sheared and fractured diorite intrusive.
The Enjahai target in the Seroa Hill license area has been developed to explore a steeply dipping zone of gold-base metal mineralisation in an outcropping, very large quartz "blow" within a very complex geologic setting. Grab sampling by EMC geologists from a small adit has returned gold values of 37 g/t gold, 10% copper and 12% zinc. The likelihood of additional similar zones is considered to be high. It is intended to drill test this zone for continuity in the sub-surface as well as to explore for additional zones within the main mass of the quartz blow.
One of the former Italian exploration sites has been relocated and found to consist of two intersecting shear structures hosting quartz mineralisation within a diorite host. Detailed grab sampling indicates that both structures contain gold and that the best mineralisation (20 g/t) was returned from the SE striking structure, which was not trenched by the Italians. This indicates that there is potential for additional mineralisation and that the area merits additional more detailed geologic mapping, prospecting and sampling.
The Matite licenses cover 482 km² (186 square miles) in the north of Eritrea and are underlain by a sequence of felsic volcanic tuffs within Proterozoic Nacfa Terrain. The area is characterized by a major NNW sriking fault zone related to Red Sea rifting and exhibits large areas of hydrothermal alteration. The area has no history of previous significant exploration or mining. The main gold occurrence of interest is the Wina Breccia discovered by EMC, which consists of a small 6x9 m outcrop of very high grade quartz-carbonate-base metal mineralisation within a mafic to intermediate composition dyke at the contact with host silicified felsic volcanic tuffs. Sampling carried out in 1998 confirmed the very high-grade nature of the mineralisation with values up to 78 g/t over 2 m and even higher grab samples. It is intended to further investigate this occurrence, initially with blasting and core drilling.
Sunridge Gold Asmara Project:
Sunridge Gold begins drilling at Debarwa project
2004-01-12 12:59 ET - News Release
Mr. Michael Hopley reports
SUNRIDGE GOLD STARTS DRILLING AT ASMARA PROJECT, ERITREA
Sunridge Gold has disclosed that diamond drilling has now commenced on the high-grade copper and gold Debarwa project part of the Asmara project in Eritrea.
It is planned to complete over 5,000 metres of both diamond and reverse-circulation (RC) drilling at Debarwa, which is a near-surface volcanogenic massive sulphide (VMS) deposit amenable to open-pit mining. Drilling by Sunridge's joint venture partner, Sub-Sahara Resources N.L., in July, 2003, intercepted high-grade copper at Debarwa as reported by Sub-Sahara on July 2, Aug. 6 and Aug. 14, 2003. These are listed below:
True Grade
From To Width width copper
(m) (m) (m) (m) (%)
DEBD-005
40.00 61.00 21.00 19.03 13.50
DEBD-006
36.00 45.00 10.00 9.06 14.40
DEBD-007
43.00 54.75 10.75 9.74 11.74
There are also significant gold and silver values associated with these intersections. These high copper grades are consistently higher than that of previous operators, which may have underestimated the average the copper grades of the deposit at Debarwa. The object of this latest drilling is therefore to better define the high-grade supergene copper zone and upgrade the resource into the "measured" category as well as to expand the known resources at Debarwa.
A second multipurpose drill (diamond and reverse circulation) has arrived in the port of Massawa in Eritrea and is scheduled to be operating on the project within the next two weeks.
This latest drilling is part of a $1.3-million (U.S.) exploration program, financed by Sunridge, covering other VMS targets as well as structurally controlled gold and silver mineralization on the 1,400-square-kilometre Asmara project. This program includes a propertywide multisensor airborne geophysical survey, ground magnetic survey as well as geological mapping, rock-chip sampling and trenching work.
Nevsun provides Bisha assay results from 33 drill holes
2004-01-12 12:37 ET - News Release
Dr. John Clarke reports
NEVSUN RESOURCES LTD.: FURTHER ASSAY RESULTS FROM BISHA PROJECT, ERITREA
Nevsun Resources has provided assay results from an additional 33 diamond drill holes from its Bisha project located in western Eritrea. These results are weighted toward the surficial gold-bearing oxide zone, which this part of the drill program targeted. The current drill program also intersected significant high-grade zinc zones within the primary massive sulphides in the south part of the deposit. The company has separately tabulated in this release additional high-grade zinc/silver intersections of previously released drill holes.
The results from Bisha Main are listed below by mineral zones: oxide-Au, oxide-Cu, supergene sulphides and primary sulphides. The primary sulphides are further divided into copper and zinc zones.
Hole From To Int Au Ag
No. (m) (m) (m) (g/t) (g/t)
Oxide-Au
B-115 37.0 55.0 18.0 4.61 14.48
B-125 0.0 43.0 43.0 13.74 32.47
B-126 0.0 40.0 40.0 6.74 30.46
and 46.0 58.0 12.0 13.24 12.0
B-127 4.0 10.0 6.0 2.68 5.0
B-128 11.5 16.0 4.5 1.73 0.50
and 46.0 49.65 3.65 19.18 88.71
B-129 43.0 46.0 3.0 8.18 19.0
B-130 31.0 45.2 14.2 7.39 44.76
B-131 8.7 16.0 7.3 0.90 1.10
B-132 22.0 34.6 12.6 11.66 20.29
B-133 0.0 24.9 24.9 9.51 27.07
B-134 0.0 38.0 38.0 6.45 37.22
B-137 10.0 32.3 22.3 4.40 23.85
B-138 12.3 25.7 13.4 1.07 8.30
B-139 7.0 17.4 10.4 0.60 23.93
B-140 1.30 8.50 7.20 2.81 17.53
Oxide-Cu
B-119 13.0 17.5 4.5 0.05 0.50
B-121 6.0 11.5 5.5 0.00 1.32
Supergene
B-110 52.0 66.3 14.3 0.21 12.2
B-111 64.0 98.5 34.5 0.00 0.50
B-118 73.0 76.0 3.0 0.01 0.50
B-119 44.4 56.1 11.7 0.02 0.57
and 70.0 73.0 3.0 0.12 2.25
B-130 59.7 68.0 8.3 0.37 0.53
B-132 34.6 86.0 51.4 0.66 16.75
B-134 38.0 55.0 17.0 1.29 32.97
B-141 49.0 61.0 12.0 0.73 102.75
Primary-
Cu rich
B-117 184.6 266.5 81.9 0.87 53.56
Incl 187.0 199.0 12.0 0.52 72.04
Incl 199.0 223.0 24.0 1.37 70.50
Incl 223.0 233.5 9.0 1.01 68.5
B-126 92.2 113.8 21.6 0.30 5.68
Primary-
Zn rich
B-110 98.5 130.8 32.30 0.70 39.0
Incl 104.5 112.0 7.5 0.57 69.8
B-121 247.9 314.5 66.6 0.74 45.06
B-124 79.4 122.5 43.1 0.62 49.72
Incl 101.0 114.2 13.2 0.51 76.99
And 130.5 133.45 2.95 0.68 52.41
B-126 113.8 125.0 11.2 1.14 56.97
B-131 107.5 136.0 28.5 0.87 26.96
Hole Int Cu Pb Zn
No. (m) (%) (%) (%)
Oxide-Au
B-115 18.0 0.06 0.39 0.06
B-125 43.0 0.19 1.62 0.06
B-126 40.0 0.13 1.38 0.04
and 12.0 0.09 0.07 0.06
B-127 6.0 0.06 0.06 0.09
B-128 4.5 0.03 0.03 0.03
and 3.65 0.01 1.93 0.01
B-129 3.0 0.07 0.05 0.05
B-130 14.2 0.10 0.18 0.06
B-131 7.3 0.12 0.05 0.09
B-132 12.6 0.11 0.45 0.09
B-133 24.9 0.13 1.02 0.05
B-134 38.0 0.12 1.15 0.06
B-137 22.3 0.10 0.46 0.14
B-138 13.4 0.11 0.80 0.16
B-139 10.4 0.08 0.78 0.09
B-140 7.20 0.10 1.21 0.10
Oxide-Cu
B-119 4.5 1.81 0.00 1.50
B-121 5.5 0.58 0.02 0.20
Supergene
B-110 14.3 1.40 0.05 0.01
B-111 34.5 1.10 0.00 0.03
B-118 3.0 0.87 0.00 0.01
B-119 11.7 1.11 0.00 0.01
and 3.0 1.06 0.00 0.03
B-130 8.3 0.68 0.02 0.01
B-132 51.4 2.57 0.02 0.07
B-134 17.0 8.24 0.09 0.05
B-141 12.0 17.41 0.45 0.06
Primary-
Cu rich
B-117 81.9 1.62 0.12 3.05
Incl 12.0 0.78 0.51 10.85
Incl 24.0 2.91 0.04 1.44
Incl 9.0 1.78 0.14 5.98
B-126 21.6 0.76 0.01 0.01
Primary-
Zn rich
B-110 32.30 0.86 0.16 4.17
Incl 7.5 1.07 0.53 13.15
B-121 66.6 0.94 0.49 9.15
B-124 43.1 2.30 0.26 5.36
Incl 13.2 0.89 0.67 16.64
And 2.95 0.52 0.28 7.56
B-126 11.2 0.48 0.21 7.17
B-131 28.5 0.44 0.11 6.16
Oxide-copper mineralization encountered in holes B-119 and B-121 is new to the project. It is expected that similar mineralization will be encountered on the property and ultimately will be included in future resource statements.
Copper mineralization encountered in hole B-111 is approximately 300 metres west of the Main zone. Additional drilling is required to assess this new disseminated style of mineralization that appears to be supergene in character.
Holes B-135 and B-136 intersected mineralization, but with less combined metal content than the holes tabulated above. Holes B-109, B112, B-113, B-114, B-116, B-120, B-122 and B-123 were exploration holes and did not intersect significant oxide or sulphide mineralization.
It should be noted that a number of holes located between 1716100N and 1716200N were drilled at -90 degrees in order to improve core recoveries and gain a better understanding of the configuration of the oxide zone. Initial interpretations are being substantiated.
Additional information on previously reported dill holes
The following table highlights the accumulation of high-grade zinc/silver intersections within the data gathered to date from the recent drill program. The table includes sections in holes B-84, B-96 and B-108 not previously reported, in addition to those sections from the remaining holes in the table reported in the company's news releases in Stockwatch dated Dec. 1 and Dec. 17, 2003.
Hole From To Int Au Ag
No. (m) (m) (m) (g/t) (g/t)
Primary-
Zn rich
B-40 112.8 144.9 32.1 0.64 59.66
B-72 82.9 110.4 27.5 0.90 86.33
B-76 80.5 122.8 42.3 0.52 17.79
And 188.5 202.0 13.5 0.85 47.00
B-78 133.8 169.0 35.2 0.88 34.26
B-84 192.0 214.5 22.5 0.88 43.12
B-96 97.0 118.0 21.0 1.04 62.34
B-99 134.5 147.7 13.2 0.63 49.03
And 211.0 252.0 41.1 0.57 55.97
B-102 150.4 178.0 27.6 0.93 81.05
B-107 226.0 233.5 7.5 0.71 36.8
And 254.5 298.5 44.0 0.69 51.96
B-108 170.45 214.0 43.55 0.66 34.15
Incl 175.0 181.0 6.0 0.45 50.85
Hole Int Cu Zn Pb
No. (m) (%) (%) (%)
Primary-
Zn rich
B-40 32.1 1.02 0.34 9.20
B-72 27.5 2.51 0.29 9.38
B-76 42.3 0.33 0.11 1.87
And 13.5 1.48 0.13 6.44
B-78 35.2 0.68 0.12 8.70
B-84 22.5 0.79 0.34 8.00
B-96 21.0 0.72 0.037 10.06
B-99 13.2 1.32 0.14 4.95
And 41.1 1.0 0.26 7.78
B-102 27.6 1.35 0.48 13.03
B-107 7.5 0.73 0.24 8.14
And 44.0 0.98 0.16 5.48
B-108 43.55 1.01 0.11 2.81
Incl 6.0 0.68 0.53 13.28
Additional sampling in hole B-75, located in the Northwest zone, expanded the previously reported nine-metre intersection to 15.0 metres averaging 14.05 grams per tonne Au from 49.0 to 64.0 metres. Further work is required to understand the structural interpretation of these gold-bearing sulphide zones that to date are unique to the Northwest zone.
Initial interpretations of down-hole electromagnetic work on hole B-104, the most southerly drilled in the deposit area, indicate a conductive body located beyond the end of the drill hole. This combined with recently received gravity data indicates a strike extension of the sulphide body to the south. Additional drilling in this area is planned.
The next drilling program is scheduled to commence during the latter part of January, 2004, and will involve three drilling rigs; two diamond drills and one multipurpose reverse circulation drill.
Bill Nielsen, vice-president of exploration for Nevsun, a qualified person under National Instrument 43-101, supervised and directed all work associated with the drilling program.
Nevsun implemented a QA/QC (quality assurance/quality control) program, consisting of certified standards, for the drill program. The analytical methods used for gold and silver are fire assay with atomic absorption or gravimetric finish. Induced coupled plasma (ICP) is used for silver trace level values. The analytical methods used for the base metals are aqua-regia digestion and atomic absorption finish or ICP for trace level values. Sample preparation and analysis were conducted at ALS Chemex of Vancouver, Canada.
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