Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Pelangio Exploration Inc. - Pelangio’s Manfo project is situated roughly in the middle of the Sefwi-Bibiani Belt between
Newmont’s Ahafo mine; the Subika deposit being only 14 kilometres to the NNE,
Manfo Highlights
https://pelangio.com/projects/ghana/manfo/
Pelangio has discovered seven near surface areas of gold mineralization along a 9-kilometre trend of multiple structures
three areas comprise the initial resource stage: Pokukrom East and West, Nfante West
Maiden resource estimate of 195,000 oz (at 1.5 g/t Au) Indicated, plus 298,000 oz (at 1.0 g/t Au) Inferred developed
by SRK Consulting, in 2013
Ownership
100% ownership
100 square kilometres on Ghana’s prodigious Sefwi Greenstone Belt
Pelangio’s Manfo project is situated roughly in the middle of the Sefwi-Bibiani Belt between Newmont’s Ahafo mine;
the Subika deposit being only 14 kilometres to the NNE, and
Resolute’s Bibiani mine 25 kilometres to the south of the Manfo project area and
50 kilometres from Kinross’ Chirano Mine.
Similar to the Subika and Chirano deposits, the mineralization at Manfo is likewise hosted in granitoid intrusive rocks.
https://operations.newmont.com/africa/ahafo-ghana
Ahafo South: Ghana’s Largest Gold Mine
Over 8 Moz produced to date.
Development of Ahafo North mine will raise combined production to approximately 850 Koz of gold per year.
Long-term district strategy to extend mine life beyond 2050.
Ahafo North: Best Unmined Deposit in West Africa
Pelangio Exploration Inc. Enters Agreement to Develop the Manfo Project
V.PX | 14 hours ago
Strategic Partnership Aims to Advance the Project into Production in Ghana's Sefwi Gold Belt
TORONTO, ON / ACCESSWIRE / August 27, 2024 /
Pelangio Exploration Inc. (TSXV:PX) ("Pelangio") is pleased to announce that on August 26th, 2024 it has entered a binding Letter of Intent (LOI) with
MFD Investment Holdings SA ("MFD"), granting MFD the option to earn an undivided 10% interest in the Manfo Project, located on the Sefwi Gold Belt
in the Ashanti Region of Ghana. This strategic partnership will accelerate the development of the project, aiming for a first gold pour in 2027.
The agreement outlines MFD's commitment to complete a Preliminary Economic Assessment (PEA) and invest up to $1 million in developmental
expenditures by December 31, 2025. Upon fulfilling these obligations, or achieving a first gold pour by December 2027,
MFD will acquire a 10% interest in the Manfo Project.
"We are excited to collaborate with MFD on this significant project," said Ingrid Hibbard, CEO of Pelangio Exploration Inc. "
This partnership aligns with Pelangio's strategy to leverage partnerships to expedite project development while retaining
a strong interest in high-potential assets.
This agreement provides Pelangio shareholders with a non-dilutive financing partner that will focus on Manfo, allowing us
to accelerate development efforts and unlock the project's full potential."
Under the terms of the agreement, MFD will engage a qualified consultant to conduct the PEA, which will evaluate the economic
viability of the Manfo Project in accordance with National Instrument 43-101 standards.
The joint venture structure that follows the successful completion of the option will see Pelangio retain a 90% interest in the project,
with MFD holding 10%.
Pelangio will remain the operator of the joint venture, overseeing the exploration, development and eventual operating activities
with the aim of going into production.
"It is rare to find these types of opportunities in the mining sector," stated Antonios Maragakis, CEO and Director of MFD Investment Holdings.
"The Manfo Project has extensive drilling, is located in a Tier 1 mining jurisdiction with the potential for significant upside
through technical work plus continuing resource and expansion drilling.
We look forward to leveraging Pelangio's extensive experience and excellent reputation in West Africa to sustainably develop
this with the local and federal authorities."
Additional Information
The Manfo Project, located in the Sefwi Gold Belt, is situated in one of the most historically productive
gold regions in West Africa.
The Sefwi Belt is home to several significant gold deposits and mining operations, including
Newmont's nearby Ahafo mine which produces more than 500,000 ounces of gold annually.
The Manfo Project consists of three key concessions: Subriso, Twabidi, and Sempekrom.
Subriso is the primary focus due to its advanced exploration status and potential for resource
expansion, while Twabidi and Sempekrom serve as buffer zones with future exploration potential.
There was a historic resource on the property done by SRK in 2013 which estimated
the project hosts a gold mineral resource of 195,000 ounces (at 1.5 g/t Au) Indicated
and 298,000 (at .96 g/t Au) Inferred.1
As part of the agreement, MFD's role includes procuring a Preliminary Economic Assessment on the
Manfo Project, a critical step towards determining the project's economic feasibility.
Resolute Bibiani gold mine in Ghana to Asante... 25KM SOUTH OF THE MANFO GOLD MINE PROJECT.
Kinross divests 90% stake in Ghana’s Chirano mine for $225m
Chirano is an operating open-pit and underground gold mine situated south of Asante Gold’s Bibiani asset.
50KM FROM M ANFO GOLD MINE PEOJECT.. August 11, 2022
...In order for MFD to fully acquire the 10% into the Manfo project, the Company will need to
show either $1,000,000 in expenditures by December 2025 or a first pour of gold by December 2027.
Subject to approval of the TSXV, Pelangio shall issue MFD a bonus of common shares based on
results from the next MRE completed on the Project and funded by MFD as follows:
If the base case estimate is at least 1,000,000 ounces and less than 1,500,000 ounces,
1,000,000 common shares;
If the base case estimate is at least 1,500,000 ounces and less that 2,000,000 ounces,
1,500,000 common shares; or
If the base case estimate is at least 2,000,000 ounces, 2,000,000 common shares.
Qualified Person
Mr. Kevin Thomson, P.Geo. (Ontario, #0191), is a qualified person within the meaning of National
Instrument 43-101 Standards of Disclosure for Mineral Projects. Mr. Thomson approved the technical data disclosed in this release.
About MFD Investment Holdings
MFD is a private investment company that focuses on developing quick-to-cashflow mining assets with significant exploration upside.
With a global team of experts in geology, metallurgy, project management, and finance, MFD
specializes in early-stage investments and
operational efficiencies that maximize value for its stakeholders.
MFD leverages advanced technology and systems to improve mine development and
operational management, addressing inefficiencies within the mining industry.
The company aims to generate substantial returns by identifying and advancing high-potential mining
projects across diverse geographies and commodities.
About Pelangio Exploration Inc.
Pelangio Exploration Inc. is a Canadian-based mineral exploration company focused on advancing its portfolio of gold projects in West Africa and Canada.
The company's strategy is centered on acquiring and developing highly prospective projects with the potential for significant returns.
Pelangio holds a 100% interest in several properties located on the prolific Sefwi and Ashanti Gold Belts in Ghana and continues
to advance its exploration efforts in one of the world's most productive gold regions.
1The Manfo mineral resource estimation was conducted by SRK Consulting and published in June 2013. (Refer to the Mineral Resource Evaluation Technical
Report, Manfo Gold Project, by SRK Consulting (Canada) Inc., released on June 21, 2013 and available on Pelangio's website).
The resource estimation was made in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects
at the time of the mineral resource estimation in 2013.
NI 43-101 standards for disclosure have been amended multiple times since 2013 and as a result, Pelangio's 2013 resource estimate is no longer NI 43-101
compliant under the current standards.
Pelangio Exploration Inc.: https://pelangio.com
82 Richmond Street East, TORONTO ON M5C 1P1, CA
Phone(s):
Primary: +1 905 875-3828
Fax: +1 905 336-3899
Contact(s):
ir@pelangio.com
Key Officers:
J. Ingrid Hibbard - CEO
President, Chief Executive Officer, Director
For further information, please contact:
Ingrid Hibbard, CEO
Pelangio Exploration Inc.
Email: ihibbard@pelangio.com
Forward Looking Statements
Certain statements herein may contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Forward-looking statements or information appear in a number of places and can be identified by the use of words 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 statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements and information include statements regarding the Company's strategy of acquiring large land packages in areas of sizeable gold mineralization, and the Company's ability to complete the planned exploration programs. Regarding forward-looking statements and information contained herein, we have made many assumptions, including about the state of the equity markets. Such forward-looking statements and information are subject to risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or information. Such risks include the changes in equity markets, share price volatility, volatility of global and local economic climate, gold price volatility, political developments in Ghana, and Canada, increases in costs, exchange rate fluctuations, speculative nature of gold exploration, including the risk that favourable exploration results may not be obtained, the option may not be exercised, near-term production may not be viable, delays due to COVID-19 or other safety protocols, and other risks involved in the gold exploration industry. See the Company's annual and quarterly financial statements and management's discussion and analysis for additional information on risks and uncertainties relating to the forward-looking statement and information. There can be no assurance that a forward-looking statement or information referenced herein will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Also, many of the factors are beyond the control of the Company. Accordingly, readers should not place undue reliance on forward- looking statements or information. We undertake no obligation to reissue or update any forward-looking statements or information except as required by law. All forward-looking statements and information herein are qualified by this cautionary statement. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Pelangio Exploration Inc.
View the original press release on accesswire.com
Tags:
GOLD
Asanko to acquire PMI for $183M
Asanko Gold (TSX: AKG; NYSE MKT: AKG) plans to merge with PMI Gold (TSX: PMV; ASX: PVM) to create an emerging mid-tier gold producer in an all-share deal valued at $183 million. - See more at: http://www.northernminer.com/issuesV2/VerifyLogin.aspx#sthash.lRY06Zuw.dpuf
Asanko to acquire PMI for $183M
Asanko Gold (TSX: AKG; NYSE MKT: AKG) plans to merge with PMI Gold (TSX: PMV; ASX: PVM) to create an emerging mid-tier gold producer in an all-share deal valued at $183 million. - See more at: http://www.northernminer.com/issuesV2/VerifyLogin.aspx#sthash.lRY06Zuw.dpuf
NEW:Nordgold (NORD, London) pours gold in Burkina Faso
Nordgold (NORD in London)
See http://www.nordgold.com/ "media" for news of first "pour" of mined gold.
Azumah Resources (ASX:AZM,TSX:AZR) study for Wa, Ghana
Feasibility study reveals Wa potential - Azumah
By: Esmarie Swanepoel -- Mining Weekly
27th August 2012
PERTH (miningweekly.com) - ASX-listed Azumah Resources on Monday reported that the feasibility study into its Wa gold project, in Ghana, had confirmed that the project was technically and commercially viable.
The project has a current mineral reserve of 430 000 oz, supporting an initial one-million-ton-a-year gravity/carbon-in-leach operation, with a life-of-mine expectancy of six years.
The project would require a capital input of some A$144-million, and was estimated to have a net present value of A$82-million and an internal rate of return of 31%, with a net cash flow of A$148-million.
“The Wa gold project feasibility study confirms the project’s technical and financial viability and enables Azumah to commence applications for key mining, environmental and other approvals required to initiate development,” said MD Stephen Stone on Monday.
“The study also allows us to advance discussions with our shortlist of possible providers for various forms of project finance,” he added.
Subject to the timing of the key permits and the finance of the project, construction at the Wa project was expected to take some 17 months, and could see production start by late 2014.
“We envisage making a development decision in early 2013, by which time the expected delivery of additional mineral reserves will have placed the project on an even stronger footing,” said Stone.
A mineral reserve upgrade, which was scheduled for early 2013, was planned to extend the mine life with a commensurate positive impact on financial returns. Azumah noted that the update would benefit from infill drilling designed to convert mineral resources to mineral reserves in the immediate vicinity of designed pits, and from recent drilling results from the Julie deposit and the Aduane prospect.
“With some A$20-million in cash and listed investments, Azumah remains well positioned to continue delivering excellent exploration results in parallel to advancing its plans to establish the first commercial-scale gold mining operation in Ghana’s emerging and very prospective gold province,” said Stone.
Semafo (SMF.TO) Q2 gold output flat, posts $98m revenue
JOHANNESBURG (miningweekly.com)–Megan Wait, 5 Jul 2012
West Africa-focused gold miner Semafo on Thursday reported second-quarter gold production of 60,500 oz, which is in line with first-quarter output, but a 5% decrease on production a year ago.
The Canada-based company, which owns mines in Burkina Faso, Niger and Guinea, sold its gold at an average price of $1,615/oz in the three months to the end of June, generating revenues of $98.4-million.
This compares to an average gold price of $1,519/oz for total revenues of $100.4-million in the corresponding period of 2011.
COO Benoit Desormeaux said that the company's Samira Hill mine, in Niger, had a good quarter, exceeding its expectations with production of 13,800 oz of gold.
Production at its Mana operation, in Burkina Faso, fell to 42,500 oz in the quarter, owing to pit transition, he added.
“Overall production for the second quarter is in line with our objectives and we remain confident that we will achieve our full-year production guidance of between 235,000 oz and 260,000 oz of gold," Desormeaux said.
The TSX-listed miner also disclosed that its second-quarter financial results, which would be published on August 8, would include a nonrecurring loss resulting from the sale of a short-term investment.
“In our first quarter 2012 financial statements, we noted an unrealised loss related to short-term investments in quoted equities that were subject to large downward changes in the fair market value. In the second quarter, we sold an investment and accordingly will record a nonrecurring loss of $24.3-million, for which a $9.5-million loss in value was previously recorded in comprehensive income and already reflected in our equity. Notwithstanding this loss, our cash and working capital position remains strong,” commented CEO Benoit La Salle.
Edited by: Mariaan Webb
NEW: Concordia Resources (CCR.V), bought Swala (Burkina Faso property with Searchgold (RSG.V))
Concordia Completes Acquisition of Swala Resources and Provides Exploration Update on Activities in Burkina Faso
MarketwirePress Release: Concordia Resource Corp. – Mon, Jan 16, 2012 8:30 AM EST
VANCOUVER, BRITISH COLUMBIA--(Marketwire -01/16/12)- Concordia Resource Corp. (TSX-V: CCN.V - News) ("Concordia" or the "Company") is pleased to announce that effective January 13, 2012, following the approval of the shareholders (the "Swala Shareholders") of Swala Resources Inc. ("Swala") at a shareholders' meeting held on December 23, 2011, it has completed its acquisition of all of the issued and outstanding securities of Swala pursuant to a court approved plan of arrangement involving Concordia, Swala and the Swala Shareholders, optionholders and warrantholders of Swala (the "Arrangement"). Swala brings to Concordia an extensive exploration portfolio in the highly prospective regions of Burkina Faso, Gabon, the Democratic Republic of Congo, Zimbabwe and Mozambique with a land package totaling over 12,400 km2, as well as an experienced management team and directors with extensive expertise in Africa.
The Acquisition
Pursuant to the terms of the Arrangement, each Swala Shareholder will receive 1.9 common shares of Concordia for each share of Swala held. Prior to closing, Swala had 13,555,641 shares issued and outstanding, which will result in approximately 25,755,718 shares of Concordia being issued to Swala Shareholders (subject to adjustment for fractional shares).
Holders of warrants of Swala ("Warrantholders") who have not exercised warrants of Swala ("Warrants") prior to the closing of the Arrangement (the "Closing") will have their Warrants converted into common share purchase warrants of Concordia ("Concordia Exchange Warrants") in accordance with a warrant exchange ratio of 0.5 Concordia Exchange Warrants for each Warrant held. Warrantholders who currently hold Warrants having an exercise price of $2.50 will receive Concordia Exchange Warrants with an exercise price of $0.88. Warrantholders who currently hold Warrants having an exercise price of $1.75 will receive Concordia Exchange Warrants with an exercise price of $0.61. Concordia will issue: (i) 502,222 Concordia Exchange Warrants with an exercise price of $0.88, expiring on December 9, 2012; (ii) 1,200 Concordia Exchange Warrants with an exercise price of $0.61, expiring on December 9, 2012; (iii) 45,936 Concordia Exchange Warrants with an exercise price of $0.88, expiring on December 20, 2012; (iv) 285,714 Concordia Exchange Warrants with an exercise price of $0.88, expiring on December 22, 2012; (v) 605,830 Concordia Exchange Warrants with an exercise price of $0.88, expiring on December 31, 2012; (vi) 51,500 Concordia Exchange Warrants with an exercise price of $0.61, expiring on December 31, 2012; and (vii) 11,429 Concordia Exchange Warrants with an exercise price of $0.88, expiring on August 31, 2013.
Any outstanding Swala options were exercised for Swala shares immediately before the Closing on a cashless, in-the-money value basis, using the 1:1.9 share exchange ratio and unexercised options will be cancelled. Following Closing, Concordia will issue options to acquire an aggregate of 2,221,754 shares of Concordia, with an exercise price of $0.70 per share, to members of the Swala team.
The combined company will retain the Concordia name and remain headquartered in Vancouver, Canada. Swala will become a wholly owned subsidiary of Concordia and the Swala Shareholders will be shareholders of Concordia, holding approximately 30% of the issued and outstanding shares of Concordia post-Closing.
"The acquisition of Swala provides Concordia with the ability to commence an aggressive drill programme in Burkina Faso, where Swala owns 100% of the Kerboule property (containing the Arae and Gassel Manere licenses) and is earning up to an 80% joint venture interest on SearchGold Resources Inc.'s (TSX-V: RSG.V - News) Gueguere property," stated Edward Flood, CEO of Concordia. "The focus of the proposed drilling programme for 2012 is to generate a NI 43-101 qualified resource in the Kerboule area of the Arae-Gassel licenses while continuing to explore for new targets on the Arae-Gassel and Gueguere licenses. We believe that Swala's African properties, and its Burkina Faso properties in particular, have all the components necessary to establish a very promising future in one of the great gold plays of West Africa. Members of Swala's technical team are former Anglo American plc. and De Beers executives with extensive operational experience throughout the African continent. This made Swala an attractive acquisition opportunity and we are pleased to have closed this transaction."
Commenting on behalf of Swala, Gerard de la Vallee Poussin, Executive Chairman of Swala stated, "In challenging markets we are fortunate to have found a suitor in Concordia who shares our enthusiasm for Africa and a belief in our projects and team. Together we have all of the elements of a successful exploration company and this transaction allows the potential of our various projects in Africa to be realized and in particular the Kerboule gold project in Burkina Faso."
Exploration Update
Concordia is pleased to provide the following exploration update in respect of Swala's activities in Burkina Faso:
A 2011 work program for the Kerboule property was recommended by SRK Consulting (Canada) Inc. in its Independent Technical Report dated 28 July 2011. The objective of the program was to complete the acquisition of reconnaissance exploration work over the entire property to identify new gold mineralization targets in largely unexplored parts of the licences, to undertake 'step-out' RAB drilling to investigate possible extensions to some of the known mineralized areas and prepare exploration targets for RC and core drilling planned for 2012.
Since that report was published, the following work has been completed on the Kerboule property:
-- Airborne geophysical survey and interpretation
-- Trenching and structural interpretation
-- Regional 'pit' geochemical sampling
-- RAB scout drilling on four anomalous targets
A map detailing the trenching, sampling and RAB scout drilling at the project in Burkina Faso is available on Concordia's website.
1. Geophysical Survey
A high resolution airborne magnetic survey was completed by Xcalibur Airborne Geophysics of South Africa in February 2011. The geophysical data was interpreted by Dr. IJ Basson of Tect Geological Consulting ("Tect"), South Africa and, having confirmed targets generated in previous exploration, is being used to assist exploration and drilling targeting planned for 2012. Tect's conclusions on the geophysical data were as follows:
-- It is likely that the shear zone encountered at Inata, approximately 20
km to the south of the survey area continues into the Arae-Gassel block.
-- The geophysical interpretation suggests that there are at least two
late-kinematic to post-kinematic intrusions in the southern portion of
the survey area. These intrusions preserve the prevailing NE-SW and NW-
SE trending.
-- Late- to post-kinematic intrusion may have remobilized and disseminated
pre-existing mineralization or it may have remobilized and focused
mineralization into the major structures.
-- Comments by Dr. S. Buttner ("Buttner"), a specialist structural
geologist from Rhodes University, South Africa who was engaged by Swala,
on vein stockworks, alteration and narrow intrusions in the area,
suggest that the southern part of the survey area occurs within and is
affected by Pluton 2, which is probably close to the surface.
-- A possible mineralization model is an intrusive overprint - along with
redistribution/dissemination of mineralization from an N- to NNE-
trending shear zone or - alternatively - remobilization and focusing of
mineralization into pre-existing structures.
2. Trenching and Structural Study at Kerboule, Gold Occurrence.
A total of 14 trenches (3.8 linear km) were excavated across the gold mineralization area for structural interpretation and detailed sampling. A total of 3,743 trench samples have been collected, of which, to date, assay results have only been received for 1491. The samples are being treated and analyzed by Biggs Global laboratory in Ouagadougou, Burkina Faso, using the bottle roll, DIBK extract, flame-AAS technique. Complete results from that work will be disclosed once all assay results have been received, validated and interpreted.
The following table provides a summary of the significant results received to date. The Company has not completed a QA/QC analysis on these results and the reader should be cautioned that these results are very preliminary and are not necessarily conclusive.
----------------------------------------------------------------------------
ANOMALY TRENCH NO FROM TO METRES AV G/T
----------------------------------------------------------------------------
Kerboule- AT11-001 114 148 34 1.920
Yalema AT11-002 85 107 22 1.568
----------------------------------------------------------------------------
Buttner was contracted by Swala to carry out a structural analysis of the Kerboule area and his findings were also integrated into the geophysical interpretation undertaken by Tect (discussed above). The figure below shows the two main structural trends in the Kerboule area (to view, click on: http://media3.marketwire.com/docs/ccn1.pdf).
3. Regional geochemical 'pit' sampling
A geochemical 'pit' sampling programme was undertaken to complete the coverage of soil samples initially collected by Orezone Gold Corporation ("Orezone") (TSX: ORE.TO - News), the previous project operator. The sampling programme was undertaken during the dry season, ending in September 2011. A total of 4,054 samples were collected during this programme. Sample results are now available, and a number of new anomalies have been identified. Sixteen samples returned values greater than 100 parts per billion ("ppb") Au with the highest value at 679 ppb. The most interesting "continuous" gold anomaly is in eastern Gassel Manere, where five samples had values greater than 100 ppb Au with a maximum of 580 ppb Au. The soil geochemical surveys and the anomalies identified are shown on the map, below.
Below is a compilation map showing the distribution of Orezone's historical geochemical samples (squares) and recent pit geochemical samples collected by Swala (coloured dots) (to view, click on: http://media3.marketwire.com/docs/ccn2.pdf).
4. RAB scout drilling program
"Step out" RAB scout drilling was completed to re-evaluate four anomalous areas identified from previous soil sampling. The program consisted of the following:
-- Angled RAB 30m holes, 20m part along lines 150m apart, extending 200m.
These were designed to intersect the mineralization trends.
-- An extended grid of vertical RAB holes to intersect the saprolite layer,
extending the above lines by a further 200m on either side.
A total of 21,700 meters were drilled in this program and 19,198 samples were collected for assaying. Partial assay results for 13,884 samples have been received and are being validated. Complete results for the RAB drilling program will be released once all assay results have been received, validated and interpreted. Complete results for the RAB drilling program are anticipated to be received, validated and interpreted by mid-2012.
The following table provides a summary of the significant results received to date. The Company has not completed a QA/QC analysis on these results and the reader should be cautioned that these results are very preliminary and are not necessarily conclusive. The widths quoted in the table below are not true widths.
---------------------------------------------------------------------------
ANOMALY HOLE NO FROM TO METRES AV G/T COMMENTS
---------------------------------------------------------------------------
Ariel AX110179 7 8 1 2.435
AX110242 8 16 7 0.714
AX110185 6 13 7 0.405
---------------------------------------------------------------------------
Gassel-Haissa AX110389 25 30 5 4.656 Incomplete results
AX110423 0 10 10 0.483
AX110535 15 18 3 0.740
---------------------------------------------------------------------------
Kerboule-Yalema AX110821 14 27 13 0.697
AX110871 21 27 7 0.450
AX110838 22 25 3 1.050
AX110828 25 30 5 0.926
---------------------------------------------------------------------------
Yalema AX110723 17 19 3 1.683
AX110839 1 2 2 1.215
---------------------------------------------------------------------------
In addition to the work program outlined above, Swala has initiated an aggressive follow-up exploration program for 2012 on new targets identified by the regional geochemical pit sampling program and the Kerboule mineralized zone identified by previous Orezone and Swala work and documented in the NI 43-101 report. This includes the following:
-- ground geophysical surveys
-- over 6,000m of detailed auger sampling
-- 20,000m of R/C drilling
-- 6,000m of core drilling.
The primary objective of this program is to define the extent of the gold mineralization identified from previous work, and document its geological controls to support the preparation of an initial mineral resource statement for the Kerboule area.
Mr. Barry Bayly, is a member of the South African Council for National Scientific Professionals (SACNSP), South Africa and is a qualified person in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). He is responsible for the exploration program in the Area and Gassel-Manere licences. He has verified the regional geochemical 'pit' sampling results and other data disclosed in this news release. The airborne geophysical survey and structural analysis were contracted to registered professional scientists and the geochemical sampling and trenching program were supervised on site by experienced Swala geologists. In-house quality controls included written procedures and routine checking and verification by senior Swala technical staff. The geochemical "pit" samples were submitted to the Abilab Afrique del'Ouest SARL ("Abilab") in Ouagadougou, Burkina Faso for preparation and assaying using the bottle-roll 'leachwell' flame-AAS technique. Abilab is part of the ALS Laboratory Group and operates under a global quality management system that is accredited ISO9001:2000. Mr. Bayly is the chief operating officer of Swala and is therefore not independent within the meaning of NI 43-101.
ABOUT CONCORDIA
Concordia Resource Corp. is a well-financed junior exploration company. The successful acquisition of Swala will add to Concordia's precious metals portfolio, which includes the past-producing La Providencia silver mine in Argentina, and will position the company as an African explorer with an emphasis on developing gold deposits holding the potential of one million ounces upwards. Concordia has its head office and executive management team in Vancouver, Canada; its technical team is based in Reno, Nevada.
On behalf of the Board of Concordia Resource Corp.
R. Edward Flood, Chairman
Forward-Looking Statements
Certain of the statements made and information contained herein is "forward-looking information" within the meaning of the Securities Act (Ontario), including the receipt of necessary permits to conduct exploration and construction, timing of anticipated exploration programmes, the number of holes and meters to be drilled and future plans of the Company. Forward-looking information is subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, risks and uncertainties relating to risks inherent in mining, including, without limitation, environmental hazards, industrial accidents, unusual or unexpected geological formations, ground control problems and flooding; risks associated with the estimation of mineral resources and reserves and the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; the potential for and effects of labour disputes or other unanticipated difficulties with or shortages of labour or interruptions in production; actual ore mined varying from estimates of grade, tonnage, dilution and metallurgical and other characteristics; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations; uncertain political and economic environments; changes in laws or policies, delays or the inability to obtain necessary governmental permits; and other risks and uncertainties, including those described in the Company's management discussion and analysis. In addition, forward-looking information is based on various assumptions including, without limitation, the expectations and beliefs of management, the assumed long term price of metals; appropriate equipment and sufficient labour and that the political environment where the Company operates will continue to support the development and operation of mining projects. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking information. Accordingly, readers are advised not to place undue reliance on forward-looking information. The forward-looking statements contained in this press release are made as of the date of this press release and the Company undertakes no obligation to update publicly or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable law.
The TSX-V has neither approved nor disapproved the contents of this press release. Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this press release.
Contact:
Karl Cahill
Concordia Resource Corp.
VP, Investor Relations
+1-604-331-981 or 1-858-531-6100
info@concordiaresourcecorp.com
www.concordiaresourcecorp.com
Mali's interim govt raises gold sales tax 2%
The tax hike came as a senior mines ministry official said Mali will miss its 2012 output target of just over 49 tonnes, adding it was too early to give a new figure.
BAMAKO (Reuters) - Posted: Friday , 18 May 2012
Mali's interim government has raised the combined sales tax on gold by 2 percentage points to 8 percent, a move aimed at bringing it in line with peers in the West Africa region, according to a government statement.
The tax hike came as a senior mines ministry official said Mali will miss its 2012 output target of just over 49 tonnes. The official said it was too early to give a new figure.
Africa's No. 3 gold miner remains in political limbo after a March 22 coup, which led to the nation's neighbours temporarily imposing sanctions and a slowdown of many businesses amid sporadic violence and uncertainty over future leadership.
A mix of Islamist and separatist rebels have also seized the north of the country, though this is far from operations of the miners, which include Randgold Resources, AngloGold Ashanti and Avion Gold Corp.
A government statement, seen by Reuters on Thursday after a Wednesday cabinet meeting, said the 2 percentage point increase in the ISCP tax on gold ingots to 5 percent was the only increase in taxes announced by the government.
A 3 percent ad valorem tax is maintained, bringing to 8 percent the total sales tax for gold from Mali, according to a senior mining official.
The government is currently headed by Prime Minister Cheick Modibo Diarra, who was appointed after a deal saw Mali's coup leaders step aside to allow a civilian-led government last month.
But it is not clear how long the government will remain in place as the interim president's term runs out later this week and regional mediators and the military are still at loggerheads over who should oversee the country's future.
Although the rebels have not threatened mining operations in the south and west, and borders have re-opened since sanctions were lifted, firms have been disrupted.
"There has not yet been an evaluation of the overall impact of the crisis but everything points to the 49-tonne forecast being lowered," said the mine ministry official, who asked not to be named.
Earlier this month, Avion lowered its production forecast for the year to 90,000 - 100,000 ounces of gold, down from 140,000 to 150,000 ounces after it halted mill expansion plans at its Tabakoto mine due to the coup.
Mali's gold revenues surged by more than 20 percent in 2011 to 240 billion CFA francs ($487 million), tracking a surge in world prices, though gold output slipped to 43.5 tonnes from 46 tonnes in 2010.
The largely desert country relies on gold for about 70 percent of export revenues and 15 percent of gross domestic product.
(Reporting by Tiemoko Diallo; Writing by David Lewis; Editing by David Gregorio)
RELATED STORIES:
Mali sanctions lifted and gold mines should be operating normally
Randgold Resources' Mali mines operate normally
Robex Resources gets 30yr production permit for Mali gold project
Gold explorers in Mali stop their drills as sanctions threaten fuel supply
Bristow re-assures on Malian gold mining investment
© Thomson Reuters 2012 All rights reserved
Ghana to Make Mines Pay Royalties Every Month, Lawmaker Says
By Ekow Dontoh - Bloomberg, May 18, 2012 3:06 AM MT
Ghana, Africa’s second-largest gold producer, plans to pass a law requiring mines to pay royalties monthly instead of quarterly, said Ernest Kofi Yakah, chairman of the parliamentary select committee on mines and energy.
“This will facilitate prompt access to funds by government and distribution for development projects in mining communities across the country,” Yakah said in an interview yesterday in the capital, Accra. The bill is before the committee and will become law by the end of the year, he said.
Parliament has passed legislation to implement the tax increases on mining companies announced by Finance Minister Kwabena Duffuor in November during his budget statement for 2012. The measures raise the corporate tax rate to 35 percent from 25 percent, impose a windfall tax of 10 percent and reduce the amount of capital spending that companies can write down.
Axmin (AXM.TO) Reverse Stock Split 1-share-for-10
NEW: Vital Metals (ASX:VML) in Burkina Faso
Vital Metals ( http://vitalmetals.com.au )- Further High Grade Gold Assay Results from Drilling at the Kollo Gold Prospect, Burkina Faso
Monday , 20 Feb 2012 Vital Metals
Highlights
Drilling continues to intersect high grade gold mineralisation at the Kollo Gold Prospect.
Gold mineralisation is shallow, less than 100m and open at depth and along strike.
Significant results received for infill drilling on the Kollo Gold Prospect include:
o 4m @ 6.29 g/t gold from 78m (KRC249);
o 3m @ 6.41 g/t gold from 88m (KRC262);
o 8m @ 3.62 g/t gold from 15m (KRC266).
Vital Metals Ltd (Vital) (ASX: VML) is pleased to announce that it has received gold assay results for an additional 16 holes 1,745m from the recently completed 51 Hole 5,530m RC drilling program in Burkina Faso (Refer to ASX release 30/01/2012).
Papillon (ASX:PIR) 75m@4.12g/ton,32m@6.7.35g/ton; Gryphon (ASX:GRY) buys 6.72% stake
Papillon Resources: West African gold exploration success attracts substantial shareholder
Tuesday, February 21, 2012 by Christine Feary
==================================
Papillon Resources (ASX: PIR) is a West African focused gold explorer. At the Fekola gold project the company is moving towards delivering a maiden JORC Resource around mid-2012. Fekola is strategically located on the highly prospective Senegalo/Malian Shear Zone, where in excess of 42 million gold ounces have been discovered.
==================================
Papillon Resources (ASX: PIR) has welcomed Gryphon Minerals (ASX: GRY) as a substantial shareholder one day after reporting broad near-surface gold intersections at the company’s Fekola Project in West Africa.
Gryphon spent $13.75 million to purchase 15.98 million Papillon shares, which equates to a total interest of 6.72% in Papillon.
The move follows yesterday’s announcement of results from diamond drilling at the Fekola Project, which highlighted the project’s potential as a major gold resource.
Best intercepts from twin holes at the project include:
- 75 metres at 4.12 grams per tonne (g/t) gold from 104 metres; and
- 32 metres at 7.35g/t gold from 59 metres.
Importantly, Papillon is well funded to begin Scoping Studies at Fekola, with a $16 million placement conducted earlier this month boosting the company’s cash position to about $27 million.
Papillon is advancing towards a maiden gold JORC Resource at Fekola around the middle of this year.
The Fekola project is located in the Mali West regional gold province, which hosts more than 22 million ounces of gold in 60 kilometres.
Other projects in the region include Randgold Resources' (LON: RRS) 11.5 million ounce Loulo project and AngloGold Ashanti's (NYSE: AU) 13.1 million ounce Sadiola project.
50% POP in Volta Resources (VTR.V), Avnel (AVK.TO) picking up too.
The Volta move was on volume. Avnel almost never has much volume, no matter what the price does.
VTEM-plus survey with magnetic gradiometer.
It is almost 10 years that Geotech Airborne is conducting our award-winning and world renowned VTEM (Versatile Time-Domain ElectroMagnetics) surveys throughout West Africa.
In the next couple of weeks, we will be flying the World’s First VTEM-plus survey with magnetic gradiometer in Ghana with plans to mobilise to Burkina Faso immediately after.
Now, we’ll have a total of 30 VTEM systems and 2 VTEM-plus with magnetic gradiometer systems available throughout Africa.
Volta Mining (ASX:VTM) (not Volta Resources VTR.V) in Mali and Burkina Faso, by buying Mauritian Firm Sahel.
See:
http://www.proactiveinvestors.com.au/companies/news/24578/volta-mining-on-the-hunt-for-west-african-gold-after-new-acquisition-boosts-footprint-24578.html
NEW: Birimian Gold (ASX:BGS) in Mali, Liberia, was Eagle Eye Metals (ASX: EYE)
See: http://www.eagleeyemetals.com/
NEW: Drake Resources (DRK in Sydney); Mauritania, Guinea
See http://www.drakeresources.com.au/
NEW: African Queen Mines (AQ.V) gold in Ghana
See: http://africanqueenmines.com
This is a Vancouver operation with described mining properties in southern Africa and Kenya, but with a gold exploration license in Ghana. They recently announced dropping diamond efforts in Botswana.
Oromin (OLE.V) price pop; almost doubled, low volume.
NEW: Legend Gold (LGN.V) find in Mali: 7m@9.53g/ton gold
LEGEND GOLD COMMENCES DIAMOND DRILLING AT
THE LAKANFLA GOLD PROJECT, WESTERN MALI
- PLANS TO DRILL MINIMUM OF 500 METRES TO TEST
HIGH GRADE INTERSECTIONS AT ZONE 1
Toronto, Ontario – November 28, 2011 – Legend Gold Corp. (the “Company” or “Legend Gold”) (TSX.V:LGN) is pleased to announce that diamond drilling at Zone 1 at our Lakanfla gold project (“Lakan-fla”) in western Mali has commenced. Drilling from the program is designed to test the geological and structural setting on section 8,400 north at Zone 1. Legend’s Lakanfla project is located adjacent to the Sadiola Gold Mine (“Sadiola” owned by AngloGold Ashanti, IAMGOLD, and SEMOS).
Selected assays from previous reverse circulation drilling (“RC”) (see press release dated June 14, 2011) are set out in the table below:
? Intersection of 7 metres of 9.53 gpt Au from Hole 11LKRC-005 in Zone 1 (section 8,400 north), including 2 metres of 32.58 gpt Au
? Intersection of 3 metres of 2.98 gpt in Hole 11LKRC-006 in Zone 1 (section 8,400 north)
All holes will be oriented to 270° azimuth to a maximum depth of 100 metres. The current drill program will add to the Company’s understanding of the style and orientation of gold mineralization at Zone 1. Planning and scheduling of a new RC program of infill drilling at zone is dependent, in part, on results of the current diamond drill program. Oxidation typically occurs to a depth of approximately 90 metres within the mineralized zone, so all reported gold intercepts are within the zone of oxidation.
Doug Perkins, Legend Gold’s President and CEO, said, “This will be the first diamond drilling undertaken at Zone 1 where high-grade gold mineralization occurs within a broad shear zone of lower-grade gold, which is approximately 50 metres wide. Legend’s RC drilling during May and June 2011 has extended Zone 1 from 350 to over 500 metres in length. We are very encouraged by this widespread gold minera-lization at Zone 1 and look forward to expanding our drill program this winter after completion of this phase of diamond drilling.”
Lakanfla is located adjacent to the Sadiola Gold Mine.
Mineralization at Zone 1 is oxidized and described from rock chips as silicified zones within metapelite. This is consistent with mineralization described at the Sadiola’s FE3/FE4 satellite pit, which is located four kilometres north of Lakanfla (see press release June 14, 2011).
Mr Perkins went on to say, “This drill program is just the early stage of our goal to explore and develop Lakanfla. This property is located adjacent to the operating FE3/FE4 pit at the Sadiola Gold Mine, which has produced in excess of one million ounces. Grades reported by AngloGold Ashanti, operator of Sadi-ola, indicate approximate head grades of 2.25 gpt at FE3/FE4. Based on successful results from drilling, Legend Gold will begin infill drilling of Zone 1 in Q1 2012 with high expectations to repeat the success seen at Sadiola’s FE3/FE4 ore body. We are very excited to believe that, with continued success at La-kanfla, the opportunity exists for Legend to develop its first gold mining operation in Mali.”
Qualified Person
This news release has been reviewed and verified by H. Andrew Daniels, P. Geo, a Qualified Person as defined by National Instrument 43-101. Mr. Daniels has over 25 years of mineral exploration and mining experience, is a Licensed Professional Geologist in the Province of Ontario and a member in good standing.
About The Company
Legend Gold is a mineral exploration and development company focused on exploring for gold in the Republic Of Mali, West Africa. Our four main projects are the Lakanfla, Tiekoumala, Mougnina, and Mo-goyafara projects. In recent years, Legend has made significant gold discoveries on the Tiekoumala project located in Southern Mali, and the Lakanfla project located in Western Mali. Legend Gold has 65,431,324 common shares issued and outstanding (79,691,324 shares on a fully diluted basis). Please visit our website www.legendgold.com to for more information about our projects.
FOR FURTHER INFORMATION PLEASE CONTACT:
Douglas Perkins, President & CEO
Email: dperkins@legendgold.com
Tel: 416.703.6348
This news release may contain forward-looking statements that are based Legend Gold Corp.’s expectations, estimates and projec-tions regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Burey Gold (Sydney:BYR) Announces Guinea holes
Burey Gold - Mansounia Drill Results Reveal Extensions to Zones of Primary Gold Mineralisation
Friday , 18 Nov 2011 Burey Gold
Burey Gold Limited (ASX: BYR) is pleased to report assay results from the most recently completed infill and extension reverse circulation (RC) and diamond core drilling (DD) program at its Mansounia Licence in Guinea.
The infill and extension RC program of 60 holes for 5,884 metres has variously tested the extensions of and infill along 10 (100m to 400m spaced) drill sections to the south of the previously defined, Mansounia Gold Deposit (MGD).
A further 14 RC holes for 1,446m and two HQ DD holes for 325m were drilled to explore the area of "The Magnificent" gold prospect.
HIGHLIGHTS
MRC 283 returned from surface 30m @ 0.68g/t Au;
MRC 286 returned from 37m down hole, 17m @ 0.94g/t Au;
MRC 287 returned from 33m down hole, 13m @ 1.82g/t Au;
MRC 288 returned from 85m down hole, 6m @ 2.32g/t Au;
MRC 315 returned from 84m down hole, 2m @ 7.38g/t Au and
MRC 340 returned from 5m down hole, 2m @ 9.11g/t Au
[Click here to view the full announcement] <--------
www.bureygold.com
New: Green Technology Solutions (GTSO), ridiculously named, now in gold exploration business in West Africa
["Green Technology Solutions" seems like an absurd name for a company in two of the most-polluting businesses known: gold mining and rare-earths mining. The latter releases not only chemical poisons but also radioactive waste; see Molycorp's experience. The following announcement is about companies other than the announcer. ]
African Gold Miners’ Soaring Revenues Embolden GTSO’s Exploration Efforts
Business Wire 11/17/11 - 06:00 AM EST
Green Technology Solutions, Inc. (OTCBB:GTSO), an emerging precious metals exploration company, revised its own expectations for its exploration efforts in Africa after two gold mining companies operating in the region reported increases in production and revenues this month. Canadian Gold miner Iamgold Corp. reported a third-quarter profit of $50.8 million as increased production and gold prices pushed revenue up more than 80 percent. Much of that success is attributed to the company’s Essakane mine in Burkina Faso, where production has increased significantly since last year. Like many gold producers, Iamgold is boosting output to benefit from record gold prices this year as investors seek a haven from Europe’s sovereign debt crisis.
Another gold miner in Africa, Rangold Resources Ltd., announced earlier this month that it expects its gold production to increase as much as 22 percent next year as output from its mines in Mali and the Ivory Coast rises. High gold prices and a worldwide surge in demand has sent the company’s earnings growth spiraling upward. Rangold’s net income more than quadrupled to $106.8 million in the third quarter from the previous year as gold sales more than doubled to $309.6 million.
GTSO, which is currently finalizing a strategic partnership with Chery Minerals to develop new gold resources in the African nations of Mali, Burkina Faso and Ghana, has been greatly encouraged by the success of other gold developers in West Africa, said CEO Paul Watson.
“The impressive increases in production and revenues posted by Iamgold, Rangold and others only proves that we’re on the right track in Africa,” Watson said. “With gold prices likely to remain high, gold mining and exploration in the region is set for tremendous growth. GTSO has a plan in place to capitalize on that growth, and we’re right on schedule to achieve our goals.”
GTSO plans to service a fast-growing global appetite for rare earth and precious metals to compete in an exciting sector that includes Randgold Resources Ltd. (NASDAQ: GOLD), AngloGold Ashanti Ltd. (NYSE: AU), SPDR Gold Shares (NYSEArca: GLD) and IAMGOLD Corp. (NYSE: IAG).
To track gold’s meteoric rise and learn more about GTSO’s resource development initiative, please visit www.gtsogold.com/investors.
About Green Technology Solutions, Inc.
Green Technology Solutions, Inc. [ www.GTSOgold.com] is a growth-oriented company exploring precious metals production around the world. In addition to gold, GTSO pursues the acquisition of rare earths and emerging clean technology innovations. To learn more, please visit our website at www.GTSOgold.com/investors.
Follow us on Twitter at http://twitter.com/gtsogold.
Notice Regarding Forward-Looking Statements
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words “believes,” “expects,” “anticipate” or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone’s past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.
High River Gold (HRG.TO) net income almost doubles
(RTTNews) - High River Gold Mines Ltd. (HRG.TO: News ) reported that its third-quarter net income attributable to equity shareholders of C$41.3 million or C$0.05 per share, up from C$24.0 million or C$0.03 per share in the year ago quarter.
Revenue for the quarter increased to C$113.84 million from C$101.84 million in the year ago quarter.
SEMAFO (SMF.TO) Admired
SEMAFO Recognized as One of Canada’s Most Admired Corporate Cultures
Montreal, Quebec, November 1, 2011, 09:30 ET – SEMAFO (TSX, OMX: SMF), today is proud to announce that the Corporation has been named as one of Canada’s 10 Most Admired Corporate Cultures™ for 2011 in the Quebec & Atlantic Canada region. The selection process is based on criteria such as: vision, leadership, reward and recognition, corporate performance and corporate social responsibility.
“We are tremendously honoured to be recognized for having one of the best corporate cultures in the country,” said Benoit La Salle, SEMAFO President and CEO. “This award is a true testament to the dedication and outstanding contributions of each and every person at SEMAFO to the overall success of the Corporation.”
“Our employees have committed to our corporate culture by embracing, as their own, SEMAFO’s values of respect, integrity, excellence, know-how and team work. Our culture is further enhanced through SEMAFO’s humanitarian mission of continuous improvement with a relentless determination to effect sustainable change and is a reason we are often regarded as one of the most respected corporate citizens in our host countries.”
This annual program was created in 2005 by Waterstone Human Capital and recognizes the country’s top organizations with cultures that both enhance performance as well as sustain competitive advantages. A total of 440 eligible organizations were nominated for the Canada’s 10 Most Admired Corporate Cultures™ program. National winners will be voted upon by the program’s Board of Governors in mid-November from among the regional winners.
About SEMAFO
SEMAFO is a Canadian-based mining company with gold production and exploration activities in West Africa. The Corporation currently operates three gold mines: the Mana Mine in Burkina Faso, the Samira Hill Mine in Niger and the Kiniero Mine in Guinea. SEMAFO is committed to evolve in a conscientious manner to become a major player in its geographical area of interest. SEMAFO’s strategic focus is to maximize shareholder value by effectively managing its existing assets as well as pursuing organic and strategic growth opportunities.
About Canada’s 10 Most Admired Corporate Cultures™:
Canada’s 10 Most Admired Corporate Cultures is founded and presented by Waterstone Human Capital, a leading retained executive search firm specializing in recruiting for fit and in cultural assessment. This national program, now in its seventh year, annually recognizes best-in-class Canadian organizations for having a culture that has helped them enhance performance and sustain a competitive advantage. Canada’s 10 is Waterstone’s R&D Lab: through the annual Canadian Corporate Culture Study™, the hundreds of program submissions, the nominee interviews, as well as through the Corporate Culture Summit, regional events, and the national gala, Waterstone is at the forefront of best practices in culture and fit – practices Waterstone shares with it clients, to help them recruit for fit, conduct cultural assessments and build great organizations.
www.canadasmostadmired.com
For more information contact:
SEMAFO
Sofia St Laurent
Communications
Tel: +1 (514) 744 4408
North America Toll-Free: 1 (888) 744 4408
Email: sstlaurent@semafo.com
Website: www.semafo.com
Maria Bang
Brunswick Group Stockholm
Tel: +46 (8) 410 32 189
Email: mbang@brunswickgroup.com
==============================================
Axmin Gold (AXM.TO) drilling in Cameroon
See:
http://www.kitco.com/pr/frame/index_prec.html?http://www.kitco.com/pr/1789/article_11012011102632.pdf
Axmin still has its good property in Central African Republic, but it has diversified back into Western Africa, I think because Axmin feels that investors are scared of depending solely on anything in the Central African Republic.
NEW: Volta Mining (VTM in Sydney) in Burkina (not to be confused with Volta Resources -- VTR.TO -- trading in Toronto, exploring in Ghana and Burkina)
Volta Mining eyes gold exploration in Burkina Faso, admitted to ASX
Tuesday, October 18, 2011 by Angela Kean
Volta Mining eyes gold exploration in Burkina Faso, admitted to ASX
Volta Mining (ASX: VTM), a gold exploration company, has been admitted to the ASX after a successful IPO which offered 15 million shares at A$0.20 each, to raise up to $3 million.
The company will begin trading at 12.30pm AEDT on Wednesday 19 October 2011, with just over 16 million shares on issue.
Volta Mining’s focus is the buoyant and evolving gold sector in West Africa, specifically the development of the Dangue Tenement in Burkino Faso.
The company has entered into an agreement to acquire a 100% interest in the tenement, which is considered to be prospective for one or more significant gold deposits.
Volta Mining will also be eyeing interests in additional ground positions complementary to those already held, as well as pursuing new projects, possibly other minerals besides gold, through investment or joint ventures in the resources sector, both in Australia and overseas.
Burey Gold Limited : 6 October - Results Demonstrate Gold Persists to Depth at Balatindi
Mt Edon House
30 Ledgar Rd Balcatta. WA. Australia.
P. +61 8 9240 7660
F. +61 8 9240 2406
A.B.N. 14 113 517 203
Sud 2eme Droit, Immeuble Ali Youssef Kochour,
Quartier Boulbinet, [entre 5eme Av. et 5eme Boul.]
Conakry.
Républic De Guinée.
B.P. 3938. Conakry. Républic De Guinée.
P. +224 64 35 48 02
+224 68 02 19 68
Hse 2/ 47 Giffard Road,
East Cantonments, Accra. Ghana. P. +233 244 317 632
www.bureygold.com
6 October 2011
Results Demonstrate Gold Persists to Depth at Balatindi
Burey Gold Limited (ASX: BYR, “Burey”) announces gold assay results from the last four holes of its ten- hole 3,470m program of diamond drilling completed at the Balatindi Central Polymetallic Prospect (“CPP”) in Guinea, West Africa.
The multi-element analyses from a further five of these holes have also been returned and are presented herein. The remaining multi-element analyses, from holes BLDD009 and BLDD010, are awaited.
Highlights
Gold assay results include:
- 24m at 0.64g/t Au from surface; 23.6m at 0.72g/t Au from 30m; 32m at 0.82g/t Au from 79m; 33m at
0.61g/t Au from 159m and 48.8m at 0.68g/t Au from 266.2m from BLDD007
- 9m @ 0.73g/t Au from surface, 38.3m at 0.61g/t Au from 16m, 27.3m at 0.71g/t Au from 56.7m and
22m @ 0.51g/t from 148m from BLDD008
- 26.9m at 0.60g/t Au from BLDD009
- 73.5m at 0.75g/t Au from 28m; 49m at 0.6g/t Au from 195m and 50.0m at 0.64g/t Au from 409m from BLDD010
The latest multi-element results include:
- 47.2m @ 1.78g/t Ag from 3.8m and 59.8m @ 1.42g/t Ag from 58m from BLDD004
- 59.2m @ 0.19% Cu from 3.8m and 19.5m @ 0.14% Cu from 65m from BLDD004
- 73.9m @ 2.99g/t Ag from surface and 26.75m @1.54g/t Ag from 76.9m from BLDD005
- 73.9m @ 0.2% Cu from surface from BLDD005
- 12m @2g/t Ag from surface and 49m @ 0.8g/t Ag from 204m from BLDD006
The Balatindi CPP mineralisation has not been closed off at depth and in all directions.
1
Comments on the Balatindi CPP
The BLEG gold assay results for holes BLDD001 – BLDD006 inclusive and multi-element (ICP/MS) results for BLDD001– BLDD003 inclusive have been reported previously. Drill hole collar locations are presented in Table I. Composited summaries of the gold assay results for the four holes (BLDD007 to BLDD010 inclusive) are presented in Tables III, IV, V and VI. Multi Element analyses are presented in Tables VII to XI inclusive below.
Considerable detailed study remains to be undertaken before the full potential of the Balatindi CPP
polymetallic mineralisation can be properly understood.
The proximal expressions of anticipated leakage of remobilised gold mineralisation have not yet been located. The gold tenor at the Balatindi CPP is generally low, but nonetheless very persistent. The mineralised system in which gold is expressed, appears to have been sufficiently pervasive to impose a remarkably uniform gold grade through and across substantive thicknesses (>100m) of host rock and as such can be expected to extend well beyond the confines in which the Company has drilled to date, significantly aligned with the gold-in-soil geochemical foot-print. The mineralised area is pervasively well silicified which is reflected in its unusually thin, 3-5m thick poorly developed and weathered surface soil horizon.
Burey has generated 5 cross sections for Balatindi showing the historical unverified Mining Italiana drill holes and the more recent 10 Burey diamond drill holes. For ease of viewing and due to limitations of an A4 format these sections are available on the Company’s web site at www.bureygold.com.
At this early stage of exploration, neither the shape nor the axis of the Balatindi polymetallic mineralisation has been determined, thus the true widths of drill intercepts are conjectural. Channelled proximal expressions of anticipated leakage of remobilised gold mineralisation have not been located.
In the upper part of some of Burey’s drill holes, magnetite and gold mineralisation appears to follow a relatively flat “flow foliation” fabric where intercept widths may be close to true. Elsewhere, to depth, mineralised intersections may prove to be quite oblique to the drill-hole trajectory. Conjectured late mineralising plumes appear to often reflect the movement of emplacement from a hydrous state.
Other gold grade pockets at Balatindi, which appear to have narrower associated widths, may reflect changes in the host rocks and/or a response to, or lacking in the overprint of mineral mobilising phases. Detailed assessment of drill log data is required to allow better interpretation and understanding.
Carrying the potential credit of additional metals variously anomalous in silver, barium, bismuth, copper, molybdenum, antimony, and lesser thorium, uranium, tungsten, rare earth elements over quite broad widths, the polymetallic significance of the Balatindi CPP mineralisation needs yet to be determined. The early appraisal of the CPPs metallurgical character is also required to establish its development potential.
Burey has located five primary uranium and associated rare earth element prospects elsewhere on the
Balatindi licence and will follow up on these in due course.
Sampling and Assay Procedure
Burey has completed a 10 hole, 3,470m HQ diamond drill campaign at the Balatindi CPP. Half core samples from the entire 10 hole program submitted to Intertek Laboratories were used to generate two sample analysis streams from each sample interval, with all samples undergoing total sample preparation before being coned and quartered for:
Resolute (Sydney:RSG) discovery to boost Mali gold output
Fri Oct 7, 2011 2:40pm GMT
BAMAKO Oct 7 (Reuters) - Australian gold miner Resolute Mining said a 700,000 ounce gold discovery at its Tabacoroni joint venture with Etruscan Resources would boost output from its Syama mine in Mali by about 100,000 ounces a year.
Guy Riopel, director general of Resolute's Mali operations, said on Friday that the company planned to expand its processing plant at Syama by 2012 in order to exploit the Tabacoroni reserves.
"We will transport the ore by road to the Syama plant. Proven reserves so far totalled 700,000 ounces, which could mean an additional 100,000 ounces in annual production," Riopel told Reuters in an interview on Friday.
Resolute previously said it targeted average production of 250,000 ounces a year from Syama over the anticipated 21-year life of the mine.
It was not immediately clear whether Resolute will officially boost that target to 350,000 ounces a year.
The mine produced 80,000 ounces in 2010, the year it was launched, in what the company said was its early development phase. Riopel said the mine has entered a commercial production phase with a target output of 200,000 ounces this year.
Mali is Africa's third-largest gold producer after South Africa and Ghana. Resolute, the Australian Securities Exchange's second-largest listed gold miner, has invested about $400 million on the mine, which it bought from Randgold Resources in 2003. (Reporting by Tiemoko Diallo; Writing by Bate Felix, editing by Jane Baird)
© Thomson Reuters 2011 All rights reserved
AEX Appleton is a major TURD play SCAM ALERT
Merrex (MXI.V) on OTC echange; Mali property;
News Release---MERREX GOLD INC.
Merrex Joins OTCQX
HALIFAX, NOVA SCOTIA -- (Marketwire September 28, 2011) - Gregory Isenor, P.Geo., President and CEO of Merrex Gold Inc. ("Merrex") (TSX Venture: MXI) is pleased to announce that Merrex has joined the OTCQX market tier under the trading symbol MXGIF.
The OTCQX
Effective September 28, 2011 Merrex will commence trading on the OTCQX, the highest tier of the U.S. OTC marketplace, under the symbol MXGIF.
United States based investors can find current financial disclosure and Real-Time Level 2 quotes for Merrex at www.otcqx.com and www.otcmarkets.com.
INTL Trading, Inc. will serve as Merrex Gold’s Principal American Liaison (“PAL”) on OTCQX, and is responsible for providing guidance on OTCQX requirements and U.S. securities laws.
Merrex has been approved by the Editorial Board of Mergent, Inc. (formerly Moody’s™ Financial Information Services) and was published in the Mergent Manuals and News Reports™ on September 13, 2011. Merrex’s corporate profile, which includes descriptive text data as well as news and financial statements, is accessible via Mergent’s online and print products. As part of Mergent’s listing services, the new description is highlighted separately on www.mergent.com with an active hyperlink back to Merrex’s website.
The Mergent Industrial Manual and News Reports™ is a recognized securities manual in 39 states for purposes of Blue Sky Manual Exemption. Nevertheless, it is recommended that brokers confirm with their compliance/legal department concerning “Blue Sky” laws in specific states and other regulatory laws that might affect them.
Commentary
“The superior information and visibility of the OTCQX marketplace allows companies to efficiently build investor confidence and expand their shareholder base,” said R. Cromwell Coulson, President and CEO of OTC Markets Group. “We are pleased to welcome Merrex Gold Inc. to OTCQX.”
“As Merrex’s Siribaya Gold Project continues to mature, so too should our corporate visibility,” commented Merrex President and CEO Greg Isenor. “In our last financing, Merrex received significant investment from U.S. based institutions and we received large numbers of inquiries from interested potential U.S. investors. Trading on OTCQX will make it much easier for U.S. investors to purchase and sell shares of Merrex while not overly burdening Merrex management or staff with additional compliance issues. It is the best of both worlds for us. We thank Mr. Coulson, President and CEO of OTC Markets Group, for his welcome and look forward to trading on the OTCQX.”
About the Siribaya Gold Project
The 848 square kilometre Siribaya Gold Project in West Mali is Merrex’s flagship property. The Siribaya Gold Project is being explored in conjunction with Merrex’s 50% earn-in partner and project operator IAMGOLD Corporation. The 2011 exploration program within the Siribaya mega-structure includes 30,000 metres of RC drilling to further extend the explored strike length of the Siribaya trends from three to seven kilometres of which 21,506 metres were completed prior to the commencement of the seasonal rains, and 10,000 metres of diamond drilling to increase the present NI 43-101 resource of which 6,571 metres
were completed prior to the commencement of the seasonal rains. Substantial numbers of assays from both the RC and diamond drilling programs remain outstanding.
Outside of the Siribaya structures new mineralized trends have been discovered; Siribaya West which lies to the west of the Bambadinka Trend, and the Babara-Kofia trends which lie to the east of Siribaya on the Babara and Kofia permits. These trends will be further tested during the 2011 and 2012 field seasons.
For further details about the Siribaya Gold Project visit Merrex’s website at www.merrexgold.com.
Merrex is a Mali focused gold exploration company with experienced management, a solid exploration team, a prominent gold-producer as a partner and an expanding gold resource … a winning combination offering investors an extraordinary opportunity.
Please visit our website at www.merrexgold.com for the most recent corporate presentation.
On Behalf of the Board
Gregory Isenor, P.Geo.
President & CEO
Merrex Gold Inc.
1550 Bedford Highway
Suite 802, Sun Tower
Bedford, NS B4A 1E6
Tel.: (902) 832-5555
Fax: (902) 832-2223
info@merrexgold.com
This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration 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 forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Yes, and it's much resented in places like Ghana, where thousands of poor Chinese immigrants have displaced local "Galamsey" artisanal gold miners, and in Zambia where the fear of Chinese mining domination just caused in change of government.
Appleton SCAM ALERT big sell off has been hidden from public
China has MUCH interest in AFRICA GOLD MINING
Semafo's (SMF:TO) Guinea equipment attacked
Semafo says Guinea mine equipment destroyed in attack
Wed Sep 21, 2011 2:57pm GMT
CONAKRY, Sept 21 (Reuters) - Canada-based miner Semafo said attackers damaged equipment on Wednesday at its Kiniero gold mine in Guinea, the latest incident in violent protests by locals over jobs that have already prompted it to halt operations there.
Haphy Fofana, the official in charge of Semafo's community relations, said by telephone that pumps and cables used in the cyanide process for gold extraction had been targeted in the attack.
Quebec-based Semafo produces some 20,000 ounces of gold from the Kiniero mine each year. Semafo also operates gold mines in Burkina Faso and Niger. Guinea accounts for only a small portion of Semafo's annual gold output, which topped 260,000 ounces in 2010.
NEW: Mt. Isa Metals (Sydney: MET) in Burkina Faso
See: http://www.mtisametals.com.au
Note: These Australians pronounce "Isa" as "EYE-zah" or "OY-zah".
"Mann-Toyzah" means Mt. Isa.
NEW: Papillon Resources (Sydney:PIR) exploring in Mali
See: http://www.papillonresources.com/
Australian gold stocks poised to shine
By Virginia Harrison, MarketWatch
SYDNEY (MarketWatch) — While gold prices have been on a record-breaking run, the performance of gold stocks in Australia has failed to dazzle, but some analysts are bullish on the outlook for the sector and point to a string of companies to watch.
Gold prices GC1Z +0.90% have surged nearly 30% this year. At the same time Australia’s S&P/ASX 200 gold index has lost nearly 4%, while the broader benchmark S&P/ASX 200 AU:XJO +0.31% is trading down around 14%, according to data from Factset.
“We’ve seen the gold price rally significantly and we haven’t seen gold stocks perform nearly as well,” said Andrew McLeod, research analyst with Limestreet Capital, an Australian resources fund that excludes index heavyweights BHP Billiton Ltd. AU:BHP +0.66% BHP +1.20% and Rio Tinto Ltd. AU:RIO +1.32% RIO +2.22% .
“We have a solid weighting to the gold sector. If we were to hold cash, or gold, we’d favor gold at the moment. Because of the disconnect between gold commodities and equities right now, we think there’s a massive opportunity within that sector,” McLeod said.
Gold price rally
The combination of concerns about Europe’s sovereign debt crisis, sluggish global economic growth and dwindling market confidence has helped underpin gold prices in recent months, with uncertainty boosting the metal’s safe-haven appeal.
A rush of gold-buying by central banks – including China, India, Mexico and South Korea – may have also contributed to the rally in physical gold prices.
“You’ve got central banks with almost endless piles of cash, and everyone worried about their actual wealth is trying to reduce exposure to feared currencies,” McLeod said. “The broader market is just nervous of investing full stop.”
UBS recently upgraded its gold forecasts arguing current conditions are ripe for further gold-price growth.
Market-damaging events such as the spread of euro zone debt woes “will lead to gold being increasingly used as the line of defence against additional negative market outcomes,” they said.
“With the pool of competing asset alternatives sparse, new money will flow into the gold market over the months ahead and into 2012, and this will have significant price implications,” the strategists said.
UBS upgraded its 2011 average gold price from $1,500 an ounce, to $1,665 an ounce. Forecasts for 2012 have been raised sharply, from $1,380 an ounce, to $2,075 an ounce.
Gold stock picks
UBS have also issued significant upgrades to its outlook for gold stocks, forecasting an average earnings upgrade in fiscal-year 2012 of 67%.
West African-based explorer Perseus Mining Ltd AU:PRU is the broker’s top pick. It also favors Adamus Resources Ltd. AU:ADU -2.61% and sector heavyweight Newcrest Mining Ltd. AU:NCM NCMGY in the Australian market.
“We continue to prefer Perseus [and] expect a near-term re-rating as it reaches producer status, Adamus Resources due to the positive deal with TSX-listed Endeavour…and Newcrest Mining for its world-class asset base,” UBS said.
McLeod from Limestreet Capital shares the upbeat view on Perseus Mining. He also favors Noble Minerals Ltd. AU:NMG, another West African explorer expected move to production later this year, and Integra Mining Ltd. AU:IGR, “a low-cost producer with exploration upside as well.”
Shares in Integra Mining and Noble Minerals have rallied more than 30% in the past three months, while Perseus Mining is up by more than 60%.
“If you’re looking to outperform you’d get involved with the smaller cap companies, which are more leveraged to the actual gold price and are smaller ships to turn. We see a lot of value in the sector,” McLeod said.
Virginia Harrison is a MarketWatch reporter based in Sydney.
NEW: Canyon Resources (Sydney ASX:CAY) big Burkina hit
www.canyonresources.com.au
[Canyon Resources (ASX: CAY) is focused on the active exploration of the company's projects in Burkina Faso, West Africa, with a goal of identifying economic resources. The company's Taparko North Project is situated in the Yalogo Belt which hosts the 2 million ounce Taparko gold mine and the 1.7 million ounce Inata gold mine.]
10:09 am by John Phillips
Canyon Resources hits broad zones of near surface gold in Burkina Faso
Burkina Faso is really starting to heat up as an exploration hot spot of choice for Australian companies, with Canyon Resources (ASX: CAY) the most recent to make some significant gold hits.
Using reverse circulation drilling, the latest highlight was 20 metres at 4.46 grams per tonne (g/t) gold from 44 metres, which includes the very high grade 4 metres at 19.01g/t gold.
Other results included 8 metres at 4.00g/t gold from 44 metres, 8 metres at 2.42g/t gold from 108 metres, and 8 metres at 2.24g/t gold from 32 metres.
The outcome from the gold hits is the continuity of mineralisation over a 2.5 kilometre strike length, which importantly remains open to both the north and south, and at depth.
Canyon will now initiate substantial follow up drilling programs, aimed at delineating delineate the geometry of the mineralisation, and to gain a better understanding of the structural controls on the gold lodes.
See also:
http://www.proactiveinvestors.com.au/companies/overview/1581/canyon-resources-1581.html
Yeah but Caledonia's not active in West Africa.
REMOVED: Fundy Minerals out of Liberia (not trading on exchange)
FOR IMMEDIATE RELEASE 23 APRIL 2010
FUNDY MINERALS LTD
(PLUS: FUND)
FUNDY CONTINUES TO NARROW FOCUS
The Board of Fundy Minerals Ltd ("Fundy" or "the Company"), the Canadian exploration company, announces that it has notified the Liberian Ministry of Lands, Mines and Energy that it is withdrawing its operations from the country and surrendering its exploration permit.
Chairman and CEO Jeff Michel commented, “The Board of Fundy has considered the implications and magnitude of the new Liberian Mining Act and has concluded that it is not in the Company’s best interest to devote anymore resources towards this project. As previously announced, Fundy is narrowing its focus to our New Brunswick projects with the highest priority being placed on putting Flatlands into production.”
The Board has also accepted the resignation of non-executive director Scott Sparks. Mr. Sparks will continue for the next month in a transitional role. The Board has also accepted the proposal of Paul Lemmon, head of Northern Lights, to contract with the Company on a project by project basis rather than a continuous basis.
Chairman and CEO Jeff Michel added, “These changes will contribute to the reduction of reoccurring costs and streamline the Company.”
The Directors of the Issuer accept responsibility for this announcement.
--ENDS—
For further information please contact:
Fundy Minerals Ltd Tel. +1 416 238 0361 or +44 (0)207 669 4479
Jeff Michel, Chairman & CEO info@fundyminerals.com
Daniel Stewart & Company Plc Tel. 020 7776 6550
NEW: Norman Cay Devel.(OTC:NCDL) now in Ghana
September 06, 2011 06:34 PM Eastern Daylight Time
Norman Cay Development Completes Acquisition of Discovery Gold Ghana Limited
STEVENSVILLE, Mich.--(BUSINESS WIRE)--Norman Cay Development, Inc. (OTCQB: NCDL) is pleased to announce that it has executed a Share Exchange Agreement to acquire all of the outstanding shares of Discovery Gold Ghana Limited, a gold exploration company incorporated and based in the Republic of Ghana (Ghana).
Per the terms of the Share Exchange Agreement (the “Agreement”), Norman Cay will issue 17,500,000 restricted common shares and pay $100,000 in exchange for all the issued and outstanding shares of Discovery Gold Ghana Limited. All outstanding conditions of the Agreement have been satisfied and the acquisition is complete. Discovery Gold Ghana Limited will now operate as a wholly-owned subsidiary of the Company.
Discovery Gold Ghana Limited holds an exclusive option with rights to acquire, explore, and develop the Edum Banso gold project in the Western Region of Ghana. The 20.60 km2 Edum Banso gold project is located in the prolific gold producing Ashanti Gold Belt, in close proximity and geologically similar to Golden Star Resources’ (AMEX:GSS, TSX: GSC) producing Wassa/HBB open pit deposits (180,000 oz./year production) and the multi-million ounce Nzema Gold Mine (100,000 oz./year production) operated by the recently merged Adamus Resources (ASX/TSX: ADU) and Endeavour Mining (TSX: EDV). Extensive physical, geophysical, and geochemical exploration conducted on the Edum Banso concession to date, indicates a major gold anomaly approximately 8 km long and 600 m wide.
The Company intends to advance exploration at Edum Banso as soon as possible. Work programs contemplated for 2011 will include additional drilling, trenching, and detailed geological mapping designed to test the known mineral occurrences and geological structures of the property which have already demonstrated the potential to host significant gold deposits.
Forward-Looking Statements
Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of that term in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements may be identified by the use of words such as "anticipate", "believe", "expect", "may", "will", "would", "should", "plan", "projected", "intend", and similar expressions. Norman Cay Development, Inc. (the “Company”) bases these forward-looking statements on current expectations and projections about future events, based on information currently available. Such forward-looking statements, involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements. The Company has no mineral resource or reserve estimate for the Edum Banso Gold Project at this time and may not have sufficient funding to thoroughly explore, drill or develop its properties. The Company disclaims any obligation to update any of its forward-looking statements, except as may be required by law.
Contacts
For Norman Cay Development, Inc.
LiveCall Investor Relations
Gerry Belanger, 855-490-9700 (Toll-free)
NCDL@livecallir.com
Caledonia Mining Corporation is a well diversified company -
The Blanket Gold Mine located in Zim have many advantages
CALVF GOLD's low cost production leader Au$585.0/oz -
CALVF's BLANKET GOLD MINE Production Au 40,000 oz/year -
http://www.caledoniamining.com/pdfs/CALPres05262011.pdf
http://www.caledoniamining.com/pdfs/CALPres05192011.pdf
http://www.caledoniamining.com/blanket2test2.php
http://www.caledoniamining.com/blanket3test2.php
CALVF's A target production rate of 100,000 oz per annum -
http://www.caledoniamining.com/blanket4test2.php
CALEDONIA MINING CORP. A Profitable Gold Miner!
(CAL:TSE) (CALVF:US) (AIM,LONDON:CMCL)
http://www.caledoniamining.com/blanket.php
CALVF Production Cost Au US$585.0 per ounce -
CALVF has 800+ mine workers and located 268 old Gold Mines
workings on the 100% owned large Blanket Gold Mines Property -
CALVF has NO DEBT -
Gold Mines Producers to Fly HIGH -
CALVF from pennies to above $6.-/sh -
twice before - top trend line > $6.-/sh est.
CALVF 3rd time run UP GO>GO
CALVF drilling on NAMA, drilling
world class cobalt-copper-belt type mineralization -
http://www.caledoniamining.com/nam1.php
CALVF has some advantages with comparison to USA and Canada -
e.g., low taxes;
Corporate Income tax at 25% -
lower labour cost but a happy work force smile
Indigenisation program Mugabe talked about for 20 years -
but the leading Peoples opposition don't want -
year 2015 is a deadline -
self declared king pin Mugabe 88yrs old is sadly in serious
cancer sickness -
Blanket Gold Mines Project -
the capacity of the secondary and tertiary crushers was increased
to over 2,000 tpd and the capacity of the rod mills was
increased to 1,800 tpd.
The product from the regrind mill is pumped into a carbon
in leach ("CIL") plant consisting of eight, 600 cubic meter
leach tanks equipped with 45 kW agitators where leaching
at 50% solids and simultaneous adsorption of dissolved gold
onto activated carbon takes place.
The CIL plant has a design capacity of 3,800 tonnes of milled ore
per day.
Elution of the gold from the loaded carbon and electro winning
is done on site.
Gold is deposited onto wire wool cathodes, the loaded cathodes
are acid-digested and the resultant gold solids are smelted
to produce gold bullion of approximately 90% purity, prior
to Blanket exporting it directly to Rand Refinery in South Africa
for final refining and sale.
The full proceeds of sale (i.e. before payment of any royalty)
are paid to Blanket's foreign currency account with a commercial
bank within approximately 7 days of receipt of the gold by Rand
Refineries.
http://www.caledoniamining.com/blanket3test2.php
God Bless
Guinea transitional council debates draft mining code
CONAKRY, Aug 31 (Reuters) - Guinea's draft mining code, in which the government plans to more than double its stake in mining projects, has been sent to the country's transitional law-making body for debate and adoption, a member of the council said on Wednesday
"The mining code is currently confidential. We have the next 10 days to debate it," council member Amadou Camara said.
A copy of the draft code seen by Reuters in April said the West African country, the world's top bauxite exporter, would take a free 15 percent stake in mining projects.
It also would give the state the option of purchasing an additional 20 percent -- bringing the total potential state share to 35 percent in mining projects.
Major mining firms including Rio Tinto and Vale have interests in Guinea's Simandou iron ore complex. Rio had said in April after reaching an agreement to end a dispute over its Simandou stake that it would not be affected by the mining review.
The draft code also is intended to toughen the procedures for issuing development permits, while offering tax breaks and deductions to encourage more exploration.
==================================================
Ampella (Sydney:AMX) results in Burkina Faso
www.ampella.com.au
See report and maps at:
http://www.purplecom.com.au/_content/documents/1890.pdf
Ampella Mining Limited (ASX: AMX) -- MEDIA ANNOUNCEMENT 31 AUGUST 2011
AMPELLA’S KONKERA RESOURCE SET FOR UPGRADE FOLLOWING HIGH-GRADE GOLD INTERSECTIONS
? High-grade gold mineralisation confirmed from first past deep drilling program over a 2km strike at Konkera North to 400 metres vertical:
? 16 metres at 4.4 g/t gold and 8 metres at 6.5 g/t gold (KNRD427)
? 11 metres at 3.7 g/t gold and 4 metres at 7.3 g/t gold (KNRD420)
? 7 metres at 4.6 g/t gold, 5 metres at 5.8 g/t gold and 5 metres at 5.0 g/t gold
(KNRD430)
? The drill results could significantly increase the current 2.2 million ounce JORC Code Compliant Konkera Gold Resource and pull pit designs significantly below the current resource.
? Deeper drilling is wide-spaced but highlights the prospectivity of this region to host potential underground mineralisation that would complement open-pit mining.
? Ongoing infill drilling will be used to increase the confidence levels and the number of ounces in the current 2.2 million ounce JORC Code Compliant Konkera Gold Resource due for an upgrade in Q4 2011.
Ampella Mining Limited (ASX: AMX) is pleased to announce significant high-grade gold mineralisation from first pass deep drilling program at its flagship Batie West project in Burkina Faso, West Africa.
The deep drilling program at Konkera North has the potential to add a substantial increase to the current 2.2 million ounce JORC Code Compliant Konkera Gold Resource (Indicated Resource of 22.5 Mt at 1.6 g/t gold for 1,182,600 ounces gold and Inferred Resource of 19.9 Mt at 1.6 g/t gold for 1,041,500 ounces gold) which is due for an upgrade in Q4 2011 (Fig. 1).
Konkera Resource
At Konkera North, gold assays have now been received for 16 out of 19 deep drill-holes for a total of 7,966.1 metres of drilling designed to test a 2,000 metre long strike of the current resource down to a depth of 400 metres vertical (Fig. 2). Each hole intersected the targeted ore position at depth which included intercepts of intense albite-sericite-carbonate-pyrite alteration. The best multiple intersections received were (Table 1):
? 16 metres at 4.4 g/t gold and 8 metres at 6.5 g/t gold (KNRD427)
? 11 metres at 3.7 g/t gold and 4 metres at 7.3 g/t gold (KNRD420)
? 7 metres at 4.6 g/t gold, 5 metres at 5.8 g/t gold and 5 metres at 5.0 g/t gold
(KNRD430)
? 23 metres at 2.4 g/t gold and 11 metres at 2.0 g/t gold (KNRD415)
Assay results from the three remaining deep drill holes will be released to the market as they become available. Each of these drill holes has intersected significant zones of intense albitesericite- carbonate-pyrite alteration considered to be associated with gold mineralisation contained in the existing Indicated and Inferred Resource.
Highlights for the most significant new results associated with deep drilling are presented in Table 1 below. All of the latest drill results will be included in the Konkera Resource upgrade due for completion in Q4 2011.
TABLE 1. Highlights from deeper drilling at Konkera North.
Project Hole ID From To Interval Grade
(m) (m) (m) (g/t Au)
Konkera North KNRD415 443 466 23 2.4
444 452 incl. 8 5.2
500 511 11 2.0
504 506 Incl. 2 5.4
KNRD417 375 412 37 1.3
401 410 Incl. 9 3.4
401 402 Incl. 1 19.9
KNRD419 334 348 14 1.3
346 348 Incl. 2 5.4
KNRD420 447 502 55 1.8
491 502 Incl. 11 3.7
497 501 Incl. 4 7.3
KNRD422 325 339 14 1.0
335 339 Incl. 4 2.3
KNRD426 478 486 8 3.3
484 485 Incl. 1 9.8
KNRD427 497 542 45 1.9
498 514 Incl. 16 4.4
500 508 Incl. 8 6.5
KNRD428 431 451 20 1.0
448 451 Incl. 3 2.4
KNRD430 302 320 18 1.7
308 315 Incl. 7 4.6
334 362 28 2.2
337 339 Incl. 2 7.8
353 358 Incl. 5 5.8
367 386 19 2.2
380 385 Incl. 5 5.0
KNRD432 360 383 23 1.8
360 367 Incl. 7 4.9
Ongoing infill drilling will be used to increase the confidence levels for new gold ounces added to this resource and could pull open-pit designs significantly below the current resource. This first pass drilling will also provide valuable geological information which can be used to target the plunge of any of the previously intersected higher grade shoots of mineralisation that will be targeted to test the underground potential of the deposit.
Ampella plans to complete in excess of 200,000 metres of diamond and reverse circulation drilling throughout 2011 as part of a $31M exploration program, focussed primarily on resource expansion at its Konkera Prospect and resource identification at new regional targets across its Batie West project in Burkina Faso, West Africa.
For further information, please contact:
Dr Paul Kitto – Managing Director: +61 419 883 563 (Australia)
Evan Cranston – Executive Director - Corporate: +61 408 865 838
Media:
Warrick Hazeldine – Purple Communications: +61 417 944 616
Karen Oswald – Purple Communications: +61 423 602 353
Website: www.ampella.com.au
Ampella is a gold exploration and mine development company with a mission to acquire, explore, develop and mine high quality mineral assets resulting in wealth creation through efficient and responsible stewardship of its resources for the benefit of shareholders and other stakeholders in the West African country of Burkina Faso, one of the world’s fastest growing gold producing regions. Ampella’s management team, with over 80 years African experience, is solely focused on developing the Konkera Resource and exploring a pipeline of high quality gold prospects across its Batie West Project.
The information in this report that relates to exploration results is based on information compiled by Dr Paul Kitto, who is a member of the Australian Institute of Geoscientists. Dr Kitto is employed by Ampella Mining Ltd. Dr Kitto has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the “Australian Code of Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Dr Kitto consents to the inclusion of the matters based on information in the form and context in which it appears.
www.ampella.com.au
Figure 1. Batie West geophysics highlighting the location of the 110km long shear zone and showing the 9 permits covering 1800 sq kms. Gold stars represent locations of artisanal workings along the shear zone. The Konkera Resource is highlighted with a red star.
[FIGURE OMITTED]
Figure 2. Drill plan for Konkera North highlighting the location of the latest deep drill-holes (red circles) and most significant intercepts. The background image is a contoured image of the auger geochemistry. The white collar locations represent those holes where assays are pending.
[FIGURE OMITTED]
?
089250m
1089000m
1088750m
1088500m
1088250m
1088000m
495500m
495250m
495000m
494750m
494500m
494250m
494000m
1087750m
?
Geochemistry Contours
Resource Drilling
9 ppb Au
50 ppb Au
100 ppb Au
250 ppb Au
Collar
400M
23m @ 2.4 g/t Au
incl. 8m @ 5.2 g/t Au
11m @ 2.0 g/t Au
incl. 2m @ 5.4 g/t Au
37m @ 1.3 g/t Au
incl. 9m @ 3.4 g/t Au
55m @ 1.8 g/t Au
incl. 11m @ 3.7 g/t Au
& 4m @ 7.3 g/t Au
8m @ 3.3 g/t Au
incl. 1m @ 9.8 g/t Au
45m @ 1.9 g/t Au
incl. 16m @ 4.4 g/t Au
incl. 8m @ 6.5 g/t Au
7m @ 4.6 g/t Au
28m @ 2.2 g/t Au
incl. 5m @ 5.8 g/t Au
19m @ 2.2 g/t Au
incl. 5m @ 5.0 g/t Au
23m @ 1.8 g/t Au
incl. 7m @ 4.9 g/t Au
14m @ 1.3 g/t Au
incl. 2m @ 5.4 g/t Au
KONKERA
NORTH
www.ampella.com.au
Table 2: Gold Assays for Infill Drilling at Konkera Resource
Project Hole ID From To Interval Grade
(m) (m) (m) (g/t Au)
Konkera North KNRD414 384 403 19 0.3
KNRD415 417 423 6 1.1
443 466 23 2.4
444 452 incl. 8 5.2
500 511 11 2.0
504 506 Incl. 2 5.4
KNRD416 465 490 25 0.6
477 485 Incl. 8 1.1
514 524 10 0.8
KNRD417 309 320 11 0.5
346 353 8 1.4
375 412 37 1.3
401 410 Incl. 9 3.4
401 402 Incl. 1 19.9
KNRD418 328 346 18 0.8
331 332 Incl. 1 6.0
375 381 6 1.7
376 378 Incl. 2 4.4
407 418 11 0.6
KNRD419 334 348 14 1.3
346 348 Incl. 2 5.4
KNRD420 447 502 55 1.8
491 502 Incl. 11 3.7
497 501 Incl. 4 7.3
KNRD422 325 339 14 1
335 339 Incl. 4 2.3
KNRD423 NSR
KNRD425 411 416 5 1.0
423 426 3 2.1
443 448 5 1.1
KNRD426 478 486 8 3.3
484 485 Incl. 1 9.8
500 510 10 0.9
506 507 Incl. 1 6.2
KNRD427 440 473 33 0.8
452 458 Incl. 6 1.3
462 472 Incl. 10 1.5
497 542 45 1.9
498 514 Incl. 16 4.4
500 508 Incl. 8 6.5
KNRD428 431 451 20 1.0
448 451 Incl. 3 2.4
473 479 6 1.1
473 474 Incl. 1 4.1
484 493 9 1.0
KNRD430 302 320 18 1.7
308 315 Incl. 7 4.6
334 362 28 2.2
337 339 Incl. 2 7.8
353 358 Incl. 5 5.8
367 386 19 2.2
380 385 Incl. 5 5
KNRD431 129 144 15 0.9
KNRD432 360 383 23 1.8
360 367 Incl. 7 4.9
================================================================
Gryphon Minerals (Sydney:GRY) in Burkina Faso
Gryphon Minerals (ASX: GRY) is focussed on advancing the Banfora Gold Project in Burkina Faso, West Africa as well as its pipeline of new projects in Mauritania.
The company recently announced a resource of 21Mt at 2.2g/t for 1,500,000oz gold at Banfora which covers 1,200km2. The mineralisation drilled so far is shallow with 80% less than 100 meters deep and with scope to extend this considerably deeper with further drilling.
Gryphon Minerals moves step closer to becoming first Australian gold producer in Burkina Faso.
An independent engineering study has highlighted just how significant a gold producer Gryphon is on the road to becoming. Based on a 2.5mtpa operation, forecast production of +180,000oz per annum, at +2.6g/t gold at US$430/oz cash costs using a CIL plant, Gryphon is on track to become a major gold producer. An independent engineering study has highlighted just how significant a gold producer Gryphon is on the road to becoming. Based on a 2.5mtpa operation, forecast production of +180,000oz per annum, at +2.6g/t gold at US$430/oz cash costs using a CIL plant, Gryphon is on track to become a major gold producer.
Gryphon Minerals (ASX:GRY) has received a boost with independent engineering studies by Lycopodium highlighting Gryphon could be producing over 180,000 ounces of gold at Banfora Gold Project at a cash cost of US$430 per ounce by 2014.
The completion of a positive independent preliminary open pit engineering assessment is based on a 2.5 million tonne per annum open pit mining operation using a conventional carbon in leach processing plant.
The company is moving closer to its goal of becoming a significant West African gold producer and the first Australian gold mining company in Burkina Faso.
Gryphon is not resting on its laurels with detailed feasibility studies expected to be completed by mid 2012, as well as continuing to maintain an aggressive A$30 million exploration program , with further resource growth anticipated during the 2011/12 financial year.
Gryphon will now begin detailed feasibility studies on a +3.5 million tonne per annum (Mtpa) operation with potential +200,000 ounces per annum (oz pa) gold production.
Steve Parsons, Gryphon Managing director, said "we are extremely pleased with the excellent results received from this independent engineering study, it has ticked some of the big boxes and provides a clear path for Gryphon to move immediately into detailed feasibility studies."
"Among the highlights from the studies are the outstanding metallurgical recoveries of 93% using a coarse grind, 65% conversion of resources to in-pit mineral inventory, cash costs well below industry peers and a head grade of more than two grams per tonne of gold."
Based on the 2.5mtpa operation, forecast production is for +180,000oz per annum, at +2.6 grams per tonne 9g/t) gold and
There have been outstanding metallurgical recoveries of 93% gold using a coarse grind (96% for oxide mineralisation and 91% for primary/sulphide mineralisation)
There is excellent infrastructure including access to surplus water, existing telecommunications facilities, roads, site locations for processing plant, dam and tailings and anticipated use of grid power.
The company anticipates permitting and construction in late 2012 with first gold poured in early 2014.
In addition the company has strong Government and local community support and had A$50.4 million cash in bank at the end of the June quarter.
With results including 8 metres at 38.75g/t gold from 68 metres from the aggressive $30 million exploration program underway at Banfora, the company's current valuation could still be on the low side within 12-18 months - given Gryphon's outstanding exploration track record in West Africa.
==========================================================
Adamus Resources in $US600m gold deal with Endeavour Mining P
Tuesday, 23 August 2011 00:00
Adamus_ResourcesShares in Perth gold junior Adamus Resources jumped today after it struck a deal with Canada's Endeavour Mining to form a $US600 million ($578m) West African focused gold play, in the latest round of consolidation in the gold sector.
Billed by both junior gold producers as a "merger of equals", Adamus shareholders will receive 0.285 Endeavour shares for each unit. Late in the day, Adamus shares were 7.69 per cent higher at 70 cents, after rising as high as 73c in a slightly negative broader market.
On a fully diluted basis, shareholders of Perth-based Adamus will hold 45 per cent of Endeavour. The Toronto-listed Endeavour would seek a dual listing in Sydney and have its operational management team based in Perth, under Adamus boss Mark Connelly, who will be chief operating officer.
Endeavour's Neil Woodyer would remain chief executive of the company, whose market value will be boosted to almost $US600m from $US281m. The company will also benefit from greater leverage to the soaring gold price and increased operating cashflow, the companies said.
The deal will also enable Adamus to resolve $US160 million of liabilities at its Nzema project in Ghana after it began production began in January, including a $US60m project loan.
UBS, which expects Adamus to next week unveil a $52m full-year loss, said the deal was positive for the company as it gave synergies and exploration acreage, while reducing the likelihood of a dilutive capital raising.
"It looks like a good deal," said analyst Jo Battershill.
Mr Connelly said the transaction delivered considerable value to Adamus shareholders through the combination of its proven mine development skills and "materially enhanced" financial flexibility from Endeavour, which has $US195m of cash compared to Adamus’s $US21m.
"This enables accelerated growth through the combined portfolio of development and exploration projects," he said.
All due diligence is completed and both boards have recommended shareholders vote in favour of the deal.
The acquisition would boost Endeavour's 2011 gold production from its Youga gold mine in Burkina Faso and Nzema to 172,000oz, from 84,000oz, at a cash cost per ounce of $US575 to $US625. By 2013, it intends to grow production from existing assets to 250,000oz and more than 500,000oz overall from an "acquisition growth strategy".
The deal is the latest in a string of gold activity since Newcrest Mining's $10 billion acquisition of Lihir Gold last year; it is similar to fellow Perth-based goldminer Avoca Resources' merger with Canada's Anatolia Minerals, which formed Alacer Gold.
Andean Resources, Catalpa Resources, Conquest Mining, Focus Minerals and Crescent Gold have also explored various deals.
Source: The Australian
NEW: Golden Rim (GMR in Sydney): Mali and Burkina Faso
See:
http://www.goldenrim.com.au/irm/content/home.html
I'm adding it to the board header...
Right but hope for a change in thinking as Gold really grabs attention of all investors
This board is a place to exchange information on companies involved in the exploration for gold in the countries of West Africa. These include but are not limited to Ghana, Mali, Burkina Faso, Guinea and Niger.
This thread is for intelligent discussion, analysis or posting of factual information.
........
Here is a list of publicly listed Canadian companies (on the Toronto or Toronto-Venture stock exchanges) currently exploring for gold in this region:
Companies exploring mostly in Mali
Appleton Exploration Inc. http://www.appletonexploration.com AEX
Avnel Gold Mining, Ltd. http://www.avnelgold.com/ AVK (operating mine)
Avion Gold Corp http://www.aviongoldcorp.com/ AVR (operating mine)
Delta Exploration http://www.deltaexploration.com/ DEV
Eldorado Gold http://www.eldoradogold.com/ ELD (EGO on Amex) also Sierra Leone
Great Quest Metals http://www.greatquest.com/ GQ
Legend Gold http://www.legendgold.com LGN
Medoro Resources, Ltd. http://www.medororesources.com/ MRS
Merrex Gold, Inc. http://www.merrexgold.com/ MXI (MRXFF on Pink Sheets)
North Atlantic Resources, Ltd. http://www.nac-tsx.com/ NAC
Robex Resources http://www.robexgold.com/?page=11875986?=en/ RBX (RB4 in Berlin-Bremen)
Sanu Resources http://www.sanuresources.com/ SNU also Burkina Faso,Morocco
Companies exploring mostly in Ghana
African Gold Group http://www.africangoldgroup.com/ AGG -- also Mali
African Queen Mines http://africanqueenmines.com ------ AQ (Frankfurt, Berlin-Bremen WKN A0Q7GA)
Azumah Resources AZR http://www.azumahresources.com.au/ (AZM on Sydney ASX) -- also Burkina Faso
Moydow Mines http://www.moydow.com/ ---------MOY also Liberia, Sierra Leone
PMI Ventures Limited http://www.pmiventures.com/ PMV (Frankfurt, Berlin-Bremen WKN 888063)
AMI Resources Inc http://www.mininggroup.com/ --------AMU
Golden Star Resources Limited http://www.gsr.com/ GSC (GSS on American Exchange) (operating mines) -- also Sierra Leone
Kinross Gold Corp www.kinross.com --- K (KGC on NYSE) (operating mines) -- also Mauritania
Midlands Minerals Corp. http://www.midlandsminerals.com/ -- MEX
Keegan Resources, Inc. http://www.keeganresources.com/ -- KGN
Pelangio Exploration http://www.pelangio.com/ -- PX
Tres-Or Resources http://www.tres-or.com/ -- TRX (placer)
Volta Resources http://www.voltaresources.com/ ---- VTR -- also Burkina Faso, Mali
Companies exploring mostly in Burkina Faso
Concordia Resources http://www.concordiaresourcecorp.com --- CCN
Channel Resources http://www.channelresources.ca/ ---CHU
Goldbelt Resources http://www.goldbeltresources.com ---GLD
Goldrush Resources http://www.goldrushresources.ca/ --- GOD
High River Gold Mines http://www.hrg.ca/ --------HRG (operating mine)
Indigo Resources www.indigoexploration.com/ --- IXI
Orezone Resources http://www.orezone.com/ ---------OZN (operating mine)(OZN on American Exchange) -- also Niger, Ghana
Riverstone Resources http://www.riverstoneresources.com ---RVS
Solomon Resources http://www.solomonresources.ca/ ---SRB also Mali
Companies exploring mostly in Guinea
Cassidy Gold Corporation http://www.cassidygold.com/ --CDY
Crew Gold http://www.crewgold.com/ --CRU on TSX and Oslo exchanges, CRUGF on Pink Sheets
Navasota Resources http://www.navasota.com/ -- NAV
Companies exploring in other or several countries
Africa West Minerals http://www.africawestminerals.com/ Liberia ----- AFW
African Aura Resources http://www.african-aura.com/ Liberia, Cameroon --- AAZ
Axmin http://www.axmininc.com/ Central African Republic, Burkina Faso, Mali, Senegal, Sierra Leone, Ghana, Cameroon ---- AXM
Central Asia Gold Ltd. http://www.cgamining.com/ Nigeria ---CGX (CGX in Sydney)
Cluff Gold PLC http://www.cluffgold.com/ Burkina Faso, Sierra Leone, Côte d'Ivoire, Mali, Senegal, Ghana --- CGF (CLF on London AIM)
Diamond Fields International http://www.diamondfields.com/ Liberia --- DFI
Etruscan Resources http://www.etruscan.com/ Niger, Mali, Côte d'Ivoire, Burkina Faso, Ghana-------EET (operating mines)
First Quantum Minerals http://www.first-quantum.com Mauritania --- FM (FQM on London AIM)
Greencastle Resources http://www.greencastleresources.com/ VGN Niger
Iamgold http://www.iamgold.com/ Mali, Niger, Guinea, Senegal, Ghana IMG (IAG on American Exchange, IGD on Australian Exchange, IAMGOLD on Botswana Exchange) (operating mines)
Island Arc Resources http://www.islandarcexploration.com/s/Home.asp Niger --- IAX
La Mancha Resources http://www.lamancharesources.com Côte d'Ivoire-------LMA
Lihir Gold http://www.lglgold.com/ Côte d'Ivoire ---- LGG (LGL in Sydney, LIHR on NASDAQ, LGL in Port Moresby) (operating mine)
Mano River Resources http://www.manoriver.com/ Sierra Leone, Liberia, Guinea ----- MNO
MaxTech Ventures http://www.maxtechventures.com/ Liberia --- MVT
Oromin Explorations http://www.oromin.com Senegal ----- OLE
Searchgold Resources http://www.searchgold.ca/ Burkina Faso, Guinea, Gabon, ---------RSG (S10 in Frankfurt)
Semafo Inc. http://www.semafo.com/ Guinea, Niger, Burkina Faso, Côte d'Ivoire SMF (operating mines)
Companies listed outside Canada
~~~~ in USA major markets:
AngloGold Ashanti (AU on NYSE, ANG on JSE, AGD in London, AGG in Sydney, AGA and AAD on Ghana Stock Exchange) http://www.anglogold.com/ Ghana, Guinea, Mali (operating mines)
Gold Fields (GFI on JSE, NYSE and Dubai DIFX) http://www.goldfields.co.za/ Ghana, Burkina Faso (operating mines)
Randgold Resources (RRS in London, GOLD on the NASDAQ) http://www.randgoldresources.com/
Mali, Ghana, Burkina Faso, Côte d'Ivoire, Senegal (operating mines)
~~~~ in London, includinng AIM
AIM Resources Ltd. http://www.aimresources.com.au/ --- Nigeria (AIMR on London AIM, AIM in Sydney) Ghana
Avocet Mining PLC (AVM in London, AVM in Oslo) http://www.avocet.co.uk/ Burkina Faso, Mali, Guinea (operating mine)
Central African Gold PLC (CAN on Londom AIM) http://www.centralafricangold.com Ghana, Mali
Glencar Mining PLC (GEX on London AIM, GCM on Irish Stock Exchange) http://www.glencarmining.ie/ Ghana, Mali
Golden Prospect PLC (GOL on London AIM) http://www.goldenprospectplc.com/ Sierra Leone
Goldplat (GDP on London AIM) http://www.goldplat.com Ghana (gold recovery)
Mwana Africa PLC (MWA on London AIM) http://www.mwanaafrica.com/ Ghana
Nordgold (NORD in London) http://www.nordgold.com/ Burkina Faso (operating mine)
West African Diamonds PLC (WAD on London AIM) http://www.westafdiamonds.com/ Sierra Leone
~~~~ in Sydney, Australia:
Adamus Resources (ADU on Sydney ASX and Venture Exch.)) http://www.adamusresources.com.au/ Ghana (operating mine)
Ampella Mining (AMX on Sydney ASX) http://www.ampella.com.au Burkina Faso
Australian Mines (AUZ on Sydney ASX) www.australianmines.com.au/ Nigeria
Australian United Gold (AUL on Sydney ASX) http://www.austunitedgold.com/ Guinea
Bassari Resources (BSR on Sydney ASX) http://www.bassari.com.au/ Senegal
Birimian Gold (BGS on Sydney ASX) http://www.eagleeyemetals.com/ Mali, Liberia
Burey Gold (BYR on Sydney ASX) http://www.bureygold.com/ Guinea
Blackthorn Resources (BTR on Sydney ASX) http://www.blackthornresources.com.au/ Burkina Faso
Canyon Resources (CAY on Sydney ASX) http://www.canyonresources.com.au/ Burkina Faso
Carbine Resources (CRB on Sydney ASX) http://www.carbineresources.com.au/ Burkina Faso
Caspian Oil & Gas (formerly Afminex) (CIG on Sydney ASX, Berlin-Bremen, Frankfurt) http://www.afminex.com Côte d'Ivoire, Ghana
Castle Minerals, Ltd. (CDT on Sydney ASX) http://www.castleminerals.com/ Ghana
Chester Mining Ltd. (CHT on Sydney ASX) Guinea
Drake Resources (DRK on Sydney ASX) http://www.drakeresources.com.au Mauritania, Guinea
Gold Rim Resources (GRM on Sydney ASX) http://www.goldenrim.com.au/irm/content/home.html Burkina Faso, Mali
Gryphon Minerals Ltd. (GRY on Sydney ASX) http://www.gryphonminerals.com.au/ Burkina Faso, Mauritania
Hodge Resources, Ltd. (HDG on Sydney ASX) http://www.hodgesresources.com.au Ghana
Mincor Resources NL (MCR on Sydney ASX) http://www.mincor.com.au/other_operations/africa.phtml Guinea
Mineral Deposits, Ltd. (MDL on Sydney ASX,MDM on Toronto TSX) http://www.mineraldeposits.com.au/index.html Senegal
Mt. Isa Metals (MET on Sydney ADX) http://www.mtisametals.com.au Burkina Faso
Newcrest Mining (NCR on Sydney ASX, NCMGY on OTC) www.newcrest.com.au Côte d'Ivoire (operating mine)
Noble Mineral Resources Ltd. (NMG on Sydney ASX) http://www.nobleminres.com.au/ Ghana
Papillon Resources Ltd. (PIR on Sydney ASX) http://www.papillonresources.com/ Mali
Paramount Mining (PCP on Sydney ASX) Ghana
Perseus Mining, Ltd. http://www.perseusmining.com/ (PRU on Sydney ASX;PRU.TO) Côte d'Ivoire, Ghana (operatinng mine)
Resolute Mining (RSG on Sydney ASX, RMGGF on OTCBB, Pink Sheets) http://www.resolute-ltd.com.au/ Ghana, Burkina Faso, Mali (operating mine)
Signature Metals, Ltd. http://www.signaturemetals.com.au/ (SBL on Sydney ASX) Ghana
Takoradi, Ltd. (TKG on Sydney ASX) Ghana
Viking Ashanti Ltd. (VKA on Sydney ASX) http://vikingashanti.com/ Ghana
Vital Metals (VML on Sydney ASX) http://vitalmetals.com.au/ Burkina Faso
Volta Mining (VTM on Sydney ASX) http://www.voltamining.com.au/ Burkina Faso
~~~~ American over-the-counter:
Gold Coast Resources http://www.goldcoastresources.com/ (GSRS on the Pink Sheets) Ghana
Columbia River Resources (CRVV on the Pink Sheets http://www.pinksheets.com ) Ghana
Centurion Gold Holdings (CGHI on OTCBB) http://www.centuriongold.com/ Gabon, Mali
General Metals Corp http://www.generalmetalscorporation.com/s/Home.asp (GNLM on the Pink Sheets) Ghana
Green Technology Solutions http://www.GTSOgold.com (GTSO on OTCBB) Mali, Burkina Faso, Ghana
Hidalgo Mining International (HMIT on OTCBB) http://www.hidalgominingint.com/home.html Guinea, Sierra Leone
Norman Cay Development (NCDL on OTCQB) Ghana
Pinnacle Resources http://www.pnrr.net/ghana_proj.html (PNRR on OTCBB, PIN in Frankfurt) (website http://www.sbmining.com/ "under construction") Ghana
Sierra Gold (SGCP on the Pink Sheets) http://www.sierragoldcorp.com/ Sierra Leone
Siguiri Basin Mining (website http://www.sbmining.com/ "under construction", SBMI on the Pink Sheets) Guinea
~~~~ Other exchanges:
Managem (has large stake in Searchgold) (MNG on the Casablanca Stock Exchange http://www.casablanca-bourse.com/ ) http://www.managem-ona.com/english/ Morocco, Guinea, Niger, Burkina Faso, Ghana, Cote d'Ivoire, Gabon (operating mines)
Cambrian Mining PLC (CBM on London AIM) http://www.cambrianmining.com and Investika (IVK on Sydney ASX and London AIM, KIZ in Berlin-Bremen and Frankfurt) http://www.investika.com share the Subranum project with unlisted Samtua Mining Resources Ltd. Ghana
Areva (FR0004275832 or PCEI on Paris bourse) a French government-controlled nuclear firm, owns Cogema http://www.cogema.com which in turn owns Compagnie Miniere D'Or ("Cominor") SA, which owns gold properties in Cote d'Ivoire and Mali (operating mines)
Companies not listed on any stock exchange:
Marine Mining Inc. http://marinemining.com/ Ghana offshore, Consolidated Mining http://www.consolidatedmining.com/home.html Guinea,
Alligator Mines Côte d'Ivoire, Boure Gold Fields, SARL Guinea, Bendon International Ltd. Senegal, Arab African Petroleum Company ("Arapco") Senegal, Pyramide-M Burkina Faso, Somika SARL, Burkina Faso, Gold City, Inc. (of Nevada, not GC on Toronto Venture Exch.) Ghana, Equator Resources Ltd. Ghana, Med Mining Co. Ltd. Ghana, Tropical Mines Ltd. Nigeria, Don King International Development Corp. Nigeria
====================================================
FOR STOCK CHARTS OF ALMOST ALL OF THEM, GO HERE: #msg-11790838
=====================================================
OTHER LINKS Mineweb: http://www.mineweb.co.za/ Kitco: http://www.kitco.com Goldsheet: http://www.goldsheetlinks.com/compa.htm Gold Review: http://www.goldreview.com/ Contact information: http://www.sigafrique.net/organisme.asp?id_lien=LIE009
(USGS 1998 reports: Burkina Faso: http://minerals.usgs.gov/minerals/pubs/country/1998/9250098.pdf Ghana:
http://minerals.usgs.gov/minerals/pubs/country/1998/9213098.pdf Niger: http://minerals.usgs.gov/minerals/pubs/country/1998/9247098.pdf )
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |