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St. Jude Confirms Gold at Goulagou Deeps
Vancouver, October 12, 2005 - St. Jude Resources Ltd. (SJD-TSX.V) is pleased to announce successful deep drilling results at the Goulagou project in Burkina Faso. Exploration drilling within the GG2 zone included a long hole program testing for continuity beneath anticipated pit bottoms and infill drilling. Robust widths and grades were encountered in parallel zones of mineralization at both the 200 meter and the 300 meter depths, as can be seen in diamond drill core holes SJG-212 and SJG-217 highlighted below:
SJG-212: 24 meters of 2.22 g/t including 8 meters of 3.28 g/t
SJG-217: 17 meters of 3.86 g/t including 6 meters of 5.57 g/t,
33 meters of 2.92 g/t including 3 meters of 8.72 g/t,7 meters of 5.35 g/t
The following table lists significant new drill results from the latest round of drilling at Goulagou:
Coordinates Hole Azimuth Dip North (m) East (m) From -To (m) Interval Width (m) Grade g/t Au
SJG-210 180 -45 1505565 575660 174-200 26 1.69 Incl. 179-192 13 2.06 SJG-211 180 -45 1505480 575710 54-60 6 1.95 Incl. 55-58 3 3.24
SJG-212 180 -50 1505400 576660 84-89 5 1.37 201-225 24 2.22 Incl. 202-208 6 3.79 Also Incl. 217-225 8 3.28
SJG-213 180 -45 1505452 576560 230-236 6 1.51 242-250 8 1.12
SJG-215 180 -50 1505550 575315 80-105 25 1.35 Incl. 99-105 6 2.89
SJG-217 180 -45 1505567 576280 229-246 17 3.86 Incl. 235-241 6 5.57 298-331 33 2.92 Incl. 301-304 3 8.72 323-330 7 5.35
The company is encouraged by these results due to the fact they expand the previously identified zones of mineralization and strongly suggest that the Goulagou deposit is open at depth.
St. Jude’s exploration program is under the direct supervision of George A. Flach, B.Sc., P.Geo., who is the qualified person responsible for the compilation and review of these results, as well as the design and management of the drill program. Assaying is done by standard fire assay techniques with Atomic Absorption ("AA") finish on a one assay ton (50 gram nominal weight) sub-sample from the original 200 gram pulverized sample. A gravimetric finish is used for some of the higher grade assays normally above 10 g/t Au, or if visible gold is observed in the core. For quality assurance and quality control, blanks and standards are included in each sample submission. Sample preparation and analysis is conducted by Abilab, a recognized independent assay laboratory in Bamako, Mali.
Second Quarter Results
St. Jude has recently released its second quarter financial results, which includes management’s discussion and analysis. This report is available on the company’s website at www.stjudegold.com. At the end of the company’s second financial quarter, the company had no debt and working capital in excess of $5.36 million, which is sufficient to meet the company’s financial needs and planned exploration and development expenditures. Exploration expenditures on the company’s resource properties for the quarter amounted to $1,970,586 (2004 - $2,179,513). Administrative expenses and overhead totalled $293,361, representing a moderate increase over last year.
St. Jude is a leading West African explorer focused on the discovery and development of gold deposits that are amenable to low cost mining techniques. The company’s projects cover over 2,900 sq. km. or 716,605 acres of West Africa’s most productive gold region. With a strong treasury, experienced exploration team, independently verified gold resources, and several advanced exploration targets, St. Jude is well positioned to continue its strong growth.
ST. JUDE RESOURCES LTD.
For further information, please contact:
Todd McMurray Vice President, Corporate DevelopmentSt. Jude Resources Ltd. Suite #200, 5405 - 48th Avenue Delta, British Columbia Canada, V4K 1W6 Tel: +1 - 604 - 940 - 6565 Fax: +1 - 604 - 940 - 6566 Or visit the company’s website at: www.stjudegold.com
MICHAEL A. TERRELL, President
No Stock Exchange has reviewed or accepts the responsibility for the adequacy or accuracy of this release.
Goldcrest (GCL.V) acquires Souhouera concession in Burkina Faso
2005-10-12 14:37 ET - News Release
Mr. Kevin Bullock reports
GOLDCREST ACQUIRES 250KM2 SOUHOUERA CONCESSION SOUTH OF ITS MALBA COPPER-GOLD PROJECT IN BURKINA FASO
Goldcrest Resources Ltd. has purchased a 100-per-cent undivided interest in the Souhouera concession and obtained a right of first refusal (ROFR) to purchase the Dangoro concession, through its wholly owned subsidiary, Wentworth Resources Pty. Ltd., from a private Burkinabe individual. The 250-square-kilometre Souhouera concession is situated immediately to the south of, and contiguous to, the company's Malba concession. The 250-square-kilometre Dangoro concession lies immediately south of the Souhouera concession.
The purchase price for the Souhouera concession was $75,000 (U.S.). The ROFR for the Dangoro concession allows Goldcrest the right to purchase the concession for the same terms as offered by a third party to the owner for a period of 12 months commencing from the finalization of the transfer of the Souhouera concession into the name of Wentworth Resources Pty. Ltd.
The Souhouera property hosts the southern extension of the copper-gold-mineralized district recognized by historic exploration. Goldcrest's previous work programs at Malba have identified a strong north-south corridor trending from Malba into the Souhouera concession, thought to represent the main structural control on mineralization.
Historic exploration in the 1970s/1980s within the Souhouera concession has included geological mapping, stream, soil, induced polarization/magnetic surveys and limited diamond drilling, which have identified multiple porphyry-copper-gold and gold targets. The company has access to the results of this work through the database it acquired over the Malba concession and has identified the Gongondy prospect as one of several high-priority targets with similar geological characteristics to the Dienemera deposit on the Malba concession.
At Gongondy, work by the United Nations Development Program, (UNDP) in the 1970s defined a plus-two-kilometre-long, 500-2,000 parts per million copper-in-soil anomaly with a slightly offset induced-polarization anomaly, in predominantly soil-covered terrain. Two small pits were developed in this area for copper oxides in the 1930s and produced some 5,000 tonnes grading 8.5 per cent copper.
Kevin Bullock, Goldcrest's president and chief executive officer, stated: "With the addition of the Souhouera property, and a ROFR on the Dangoro property, we have literally tied up the entire Gaoua district copper-gold belt in southern Burkina Faso. Goldcrest now has control over more than 15 kilometres of strike length of copper-in-soil anomalies along with various coincidental induced-polarization anomalies."
In light of this recent development, Goldcrest has terminated its discussions with IMAR-B (a private Burkinabe company) regarding an earn-in agreement on the Gaoua property as reported in Stockwatch on March 8, 2005. IMAR-B was unsuccessful in extending its existing title to the Gaoua concession, which was one of the conditions of the previous earn-in agreement. The Souhouera and Dangoro concessions occupy what used to be the 500-square-kilometre Gaoua concession previously held by IMAR-B.
Under the guidelines of National Instrument 43-101, the qualified person for the Malba copper-gold project is Michael Higgins, who is a fellow of the AusIMM. Mr. Higgins has reviewed and approved the contents of this news release
We seek Safe Harbor.
Riverstone (RVS.V) discovers 1.8 g/t gold at Ligidi project
[ Burkina Faso ]
2005-10-11 10:04 ET - News Release
Mr. Michael McInnis reports
RIVERSTONE RESOURCES INC.: DISCOVERY ON LIGIDI GOLD PROPERTY; RAMBO MINERALIZATION EXTENDED
Riverstone Resources Inc. has released the drilling results from the recently completed exploration program on its mineral permits in Burkina Faso, West Africa. Highlights include the discovery of significant gold mineralization in several holes at the Ligidi project and the extension of the known gold zone at the Rambo project. "We are particularly excited about the gold intersections and the potential size of the targets on the Ligidi project," commented Michael McInnis, president of Riverstone. "The modest drill program tested only a small number of targets within a 13-kilometre-long gold geochemical anomaly. Clearly, all targets within this 13-kilometre trend now require further investigation for additional discoveries."
On the Rambo property, two holes tested the concept that a 1.5-kilometre-long EM geophysical conductor reflects the structural control of the known gold zone. "The success of these two holes indicates that the full length of this conductor is prospective for further gold discoveries," said Mr. McInnis.
On the Ligidi property, geochemical soil sampling in 2004 established an extensive area anomalous in gold approximately 13 kilometres long and three kilometres wide. Within this broad area, numerous linear anomalous zones, each between one and two kilometres in length, were subsequently delineated. Three broad areas of interest have been designated -- the Three Hills area, the Wayalguin area and the Dassoui area. Eight holes were drilled to test widespread anomalies within the Three Hills and Wayalguin areas only. The Dassoui area has not yet been tested by drilling.
The Three Hills area contains a series of four linear, west-northwest-trending gold-in-soil anomalies, each between one and two kilometres in length. Two of the four anomalies were tested with five RC holes with significant results as follows:
Hole From To Interval Gold
(m) (m) (m) (g/t)
LM-05-01 6.00 12.00 6.00 0.68
including 9.00 12.00 3.00 1.04
LM-05-02 51.00 63.00 12.00 0.46
LM-05-05 1.50 18.00 16.50 1.25
including 4.50 13.50 9.00 1.88
and 36.00 42.00 6.00 0.80
including 39.00 40.50 1.50 1.46
Note: The intervals are drill intercepts and may not reflect true widths.
Holes LM-05-01 and 02 were drilled to test a 2.25-kilometre-long gold-in-soil anomaly. The holes are 300 metres apart. The discovery of significant gold below this anomaly necessitates the thorough evaluation of the entire anomaly.
Holes LM-03 to 05 were drilled in a fence across the eastern end of a 1.25-kilometre-long gold geochemical anomaly. Again, the intersection of significant gold mineralization in LM-05-05 validates the geochemical anomaly and warrants further exploration.
The Wayalguin prospect, located approximately two kilometres east of the Three Hills prospect, was tested with three drill holes. The three holes, LM-06 to 08, were drilled as a fence to cross the eastern portion of an 800-metre-long geochemical anomaly. The holes were drilled to undercut a trench that had encountered 2.22 grams per tonne gold over 6.0 metres. Hole LM-05-07 encountered 1.86 g/t gold over 4.5 metres; holes LM-05-06 and 08 intersected several narrow intervals (1.5 metres) grading about 1.0 g/t gold.
On the Rambo permit, two diamond drill holes were drilled in an effort to extend the gold zone encountered in previous drilling.
Hole From To Interval Gold
(m) (m) (m) (g/t)
RADD-05-10 152.55 157.60 5.05 2.16
including 152.55 157.20 4.65 2.30
RADD-05-11 158.70 167.47 8.77 1.26
including 161.20 164.20 3.00 2.84
Hole RADD-05-10 was drilled to test the vertical continuity of the known mineralized zone. The zone now has been traced for 170 metres down dip and is still open. Hole RADD-05-11 was drilled 150 metres WNW of RADD-05-10 in an effort to extend the gold zone in that direction. The gold intersection in RADD-05-10 has now extended the Rambo mineralized zone for 350 metres along strike and still open. The gold mineralization appears to be following an EM geophysical conductor which extends for a minimum of 1.0 kilometre beyond the known extent of the mineralization zone.
All samples for the above-listed intercepts were prepared at the Abilab laboratory in Mali and then sent to the ALS Chemex in North Vancouver for assay by the fire assay and atomic absorption process. Exploration work during the recently completed program was also carried out on the company's Kao and Yaramoko permits.
//////////////////////////////
See News Release dated August 2, 2005, for the results of that work.
For further information about Riverstone Resources, including previous news releases detailing earlier
results, please refer to the Company’s website at www.riverstoneresources.com and under the
Company’s profile at www.sedar.com.
On behalf of the Board,
“Michael D. McInnis”
_________________________
Michael D. McInnis, President
For further information, contact Michael D. McInnis at (604) 801-5020 or at mikem@riverstoneresources.com
The TSX Venture Exchange does not accept responsibility for the adequacy or the accuracy of this release.
Michael D. McInnis, P. Eng. is a Qualified Person for RVS and has reviewed and approved the contents of this news release.
==============================
Article today in Wall Street Journal on Congo mining, mentions Tenke, Phelps Dodge, NFC Mining PLC, Metorex ZCCM, Kumba, Anglo, Copper Resources, Miniere Musoshi Kinsenda, Anvil, First Quantum, Gecamines, Kinross-Forrest.
WSJ Mon. Oct 10, 2005, page C4.
Iamgold reserves jump by 92,000 ounces at Tarkwa-Damang
2005-10-06 07:23 ET - News Release
Mr. Joe Conway reports
IAMGOLD ANNOUNCES UPDATED RESERVES AT THE TARKWA-DAMANG MINE COMPLEX, GHANA
Iamgold Corp. is releasing an update on gold reserves and resources at the Tarkwa-Damang gold mine complex in Ghana, in which the company has an 18.9-per-cent ownership interest. Gold Fields Ltd. and the government of Ghana hold a 71.1-per-cent interest and a 10-per-cent interest in both the Tarkwa and Damang mines.
Joe Conway, president and chief executive officer of Iamgold, commented on the gold reserves and resources, stating: "During the 12-month period to June, 2005, assuming a $375-(U.S.)-per-ounce gold price, a total of 488,000 ounces of proved and probable gold reserves were added at the Damang mine, of which 92,000 ounces were added to Iamgold's account. Damang has demonstrated its potential to extend the mine life through exploration and optimization. Tarkwa's proved and probable reserves decreased by 1.3 million ounces, a 9-per-cent decrease in the Iamgold account. The modest decline in the Tarkwa reserve portion is due to the increasing costs of consumables as well as mine depletion. If reserves at Tarkwa were calculated at $413 (U.S.), the reserves would actually have increased by 9 per cent. However, even at a $375 (U.S.) gold price, the impact on the mine life at Tarkwa is minimal."
Qualified person/quality control notes
The competent person responsible for the generation of the mineral resource and reserve statements is Gary Chapman, manager mine planning and resource management, Tarkwa and Damang mines. Mr. Chapman has bachelor of science (honours) geology from the University of Natal, is a professional natural scientist of the South Council for Natural Scientific Professions (SACNASP), and has worked as a geologist for 28 years. As a result of his education, affiliation with a professional association and past relevant work experience, Mr. Chapman fulfills the requirements to be a qualified person for the purposes of National Instrument 43-101. Mr. Chapman authored a report, "A Technical Report of the Tarkwa Gold Mine, Ghana, May 2003," wherein numerous quality-control procedures regarding the calculation of reserves and resources at Tarkwa and Damang were described.
We seek Safe Harbor.
Searchgold now in with Managem at Bakoudou, Gabon
[ I'd call this a plus for Searchgold. FL ]
Searchgold starts up Bakoudou work program
2005-10-05 10:39 ET - News Release
Mr. Maurice Giroux reports
SEARCHGOLD ANNOUNCES THE RESUMPTION OF WORK IN GABON FOLLOWING THE SIGNATURE OF A CDN $ 4,200,000 DEAL WITH MANAGEM
Searchgold Resources Inc. has resumed the work program on its Bakoudou gold project located in Gabon, Africa.
In July, 2005, Searchgold signed a strategic $4.2-million joint venture agreement on the Bakoudou gold project with Managem, a successful, established African-based mining company. Through its subsidiaries, Managem, the mining branch of the powerful ONA (Omnium Nord Africain), operates six mines in Morocco and was also involved in the development of two gold mines in West Africa, the Kiniero mine in Guinea and the recently commissioned Samira Hill mine in Niger. These two mines are operated by Semafo, a Canadian gold mining company operating in West Africa.
Managem, looking to expand its international activities as well as its gold reserves in West Africa, was attracted to the Bakoudou project by the solidity of the continuing feasibility study results as well as of the potential to significantly increase Bakoudou's resource base. While ensuring proper financing to advance the project without significant shareholder dilution and guaranteeing financing capacity for mine construction, this partnership allows Searchgold to concentrate on the acquisition of additional solid projects and the development of its other existing properties.
The Bakoudou gold project encompasses the 2,300-square-kilometre Magnima prospecting licence and the 24-square-kilometre Bakoudou exploitation permit. Zone A, Searchgold's first advanced target, sits at the southern extremity of a three-kilometre, northwest-trending gold-bearing corridor and contains an oxide-sulphide measured and indicated resource totalling 277,380 ounces of gold (2.1 million metric tonnes at a grade of 2.45 grams per tonne gold in oxide and 570,000 metric tonnes at a grade of 6.11 g/t gold in sulphide -- Met-Chem scoping study).
Managem will be the project operator and exploration and development programs will be determined jointly by both Searchgold and Managem through a four-member management committee composed of two members of each party.
In line with Searchgold's corporate objectives to achieve producer status while maximizing the blue sky potential of its properties, the current program is designed to fast-track a production decision on an optimized resource estimate while immediately testing zone A's proximal targets. The $3-million in exploration and development funds to be provided by Managem over two years will therefore be allocated toward three objectives:
* resource optimization and engineering studies to finalize a bankable feasibility study;
* detailed exploration of proximal targets to expand the resource base; and
* regional exploration of the Magnima permit.
Meanwhile, Searchgold is actively reviewing potential acquisitions in Africa. Furthermore, a work program has been established for the Lac Fortune and Lac Chevrier gold exploration projects in Quebec and is due to start shortly. Further details on these developments will be provided in coming press releases.
Such a plethora of lines! tradingfool's chart of Great Quest has so much extra, derived data on it, you can hardly see the actual price pattern among all the Bollinger Bands, various moving averages, dusty lines of dots, etc.
These derived values (unlike, say, the volume, or OBV) are all derived by computer formulae from the same price chart -- they may help with insight, but they contain no information that is not aready present in the price chart and hence available to the naked eye.
Looks like a braid of spaghetti. Do you actually know ways to exploit it all usefully?
FL
P.S. If BigCharts charts could be included in the ALL CHARTS link instead of StockCharts charts, that would be good since BigCharts includes almost everything (other than Managem and the Ghana Stock Exchange), like Australian, London and London AIM stocks along with Pink Sheet and NYSE/Amex/NASDAQ stocks.
I have no idea whether one can include BigCharts charts.
FL
Yeah, the "ALL CHARTS" link in the header here has got obsolete again.
Several of our more recently discovered companies are missing, some on the chart list (like Jilbey or Akrokeri-Ashanti) are no longer in existence, and some have bad links, like Goldcrest.
Problem: How does one include links for London or Australian or Pink Sheet charts that have no chart on stockcharts.com ?
The Columbia River chart illustrates how to import a chart from Pink Sheets.
In fact I've forgotten entirely how to update the ALL CHARTS link. I don't know how to examine the existing ALL CHARTS message source text.
By the way, did anybody here notice the rise in Moydow? Is Golden Star after them, à la St. Jude?
(The ALL CHARTS link helps me notice such changes.)
FL
Retransmission; Oromin Explorations Ltd. (OLE.V): Initial Sampling at Sabodala Returns High Grade Gold
[ This is a month old. ]
Tuesday September 6, 9:03 am ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 6, 2005) - Oromin Explorations Ltd. (TSX VENTURE:OLE - News) -
- TRENCHING AT GOLOUMA RETURNS 30.22 G/T GOLD OVER 5.5 METRES AND 2.96 G/T GOLD OVER 18.5 METRES
- ARTISANAL PIT ROCK SAMPLING RETURNS UP TO 27.54 G/T GOLD
- SOIL SAMPLING RETURNS UP TO 12.00 G/T GOLD
Oromin Explorations Ltd. is pleased to report very encouraging gold results from the initial sampling program that forms part of the ongoing first phase of its USD$8 million comprehensive exploration program at the 230 square kilometre Sabodala Property in eastern Senegal.
Trench, rock and soil geochemical sampling has confirmed historical results and appears to correlate well with induced polarisation ("IP") chargeability anomalies identified by Oromin in the initial phase of its geophysical evaluation of Sabodala. In addition to showing an excellent correlation between strong gold results and the IP anomalies in areas of past and present artisanal gold mining activities, Oromin has identified numerous new gold-in-soil geochemical and IP anomalies.
Although it is still late in the rainy season at Sabodala, field crews have resumed the Phase I exploration program and have now begun mechanised trenching, the expansion of geochemical sampling coverage and ground IP geophysics, and are completing camp construction in preparation for the commencement of drilling.
Within a 200 by 250 metre area at Golouma, Oromin excavated three hand trenches near an old trench sampled in 2004 by Oromin's consulting geologist. A series of shallow hand trenches within the same area were sampled in 1987 by BRGM (Geologic Branch of the French Government). The following summarizes these results:
Trench # Sampled By Width (metres) Gold (g/t)
OLE-01 Oromin 18.5 + 2.96 including 9.5 metres at 4.50 g/t
OLE-02 Oromin 2.0 + 0.30
OLE-03 Oromin 5.5 30.22 including 2.0 metres at 68.59 g/t
Pit B Consultant 3.1 + 11.79
GOL T32 BRGM 4.0 + 3.39
GOL T33 BRGM 6.5 + 11.40
GOL T35 BRGM 5.5 + 5.40
GOL T36 BRGM 5.8 + 7.00
Trench OLE-01, which ended within mineralization, is located approximately 250 metres east of trench OLE-03. Trench OLE-02, located approximately 100 metres east of trench OLE-03, ends in mineralization as the anomalous mineralization occurs at the end of the trench exposure. An 8 metre wide section within the centre of trench OLE-02 could not be sampled as the trenching crew was unable to reach bedrock.
All of the historical trenches within the 200 by 250 metre area sampled by BRGM did not expose the full width of the mineralization. This area has not been previously drilled. Additional trenching, including mechanised excavation to accelerate the pace of trenching, will be undertaken to extend and deepen trenches OLE-01 and OLE-02 and to explore for additional on-strike extensions of the mineralised intervals.
While prospecting, mapping and sampling the Golouma grid, Oromin discovered a 100 metre by 200 metre area of extensive trenching, artisanal pitting and manual excavations located approximately 600 to 800 metres east of trenches OLE-01 to OLE-03. This area of artisanal workings, which has not been previously drilled, shows excellent correlation with the recently identified IP geophysical anomalies. A total of 37 widely-dispersed prospecting samples were collected from the various rock dumps, outcrops and trenches throughout this area, returning values ranging from below detection to 27.54 g/t gold. Eighteen of the samples returned greater than 1.0 g/t gold, of which thirteen samples were greater than 3.0 g/t gold and the following eight of which were in excess of 10.0 g/t gold: 12.83, 17.97, 18.11, 21.16, 22.12, 24.14, 24.25 and 27.54 g/t gold. Additional excavations, trenches and pits were observed beyond the area currently sampled and will be followed-up during the current !
field program.
Oromin has also received results for approximately 75% of the 1,300 soil geochemical samples collected prior to the onset of the rainy season. To date, less than 5% (approximately 12 square kilometres) of the 230 square kilometre Sabodala Property has been explored with ground geophysics, prospecting and soil sampling. So far, this exploration coverage includes a 2,400 by 3,000 metre area at Golouma, an 1,800 by 3,000 metre area at South Sabodala and two orientation test lines covering both the Sabodala deposit owned by Mineral Deposits Limited ("MDL") and Oromin's Masato area. The results received so far outline a series of extensive gold-in-soil geochemical anomalies that correlate well with induced polarisation chargeability anomalies identified by Oromin in the initial phase of its geophysical evaluation of the Golouma, Masato, South Sabodala and Maka Madina areas.
At Golouma, soil samples as high as 8.0 g/t gold and 12.0 g/t gold occur within a highly anomalous area covering a minimum extent of approximately 1.5 by 2 kilometres. As noted above, this area has not been previously drilled. This strong, broad series of geochemical anomaly covers and extends well beyond the area of Oromin's initial three trenches and the area of artisanal excavations. For example, a 500 metre section of grid line 26+00S at the site of Oromin's three hand trenches returned the following sequence of highly anomalous soil geochemical results at 50 metre spacing: 0.17, 1.51, 0.13, 2.13, 0.23, 1.37, 3.94, 0.10, 2.43 and 0.28 g/t gold.
Immediately along trend to the south of MDL's Sabodala South deposit that lies 300 metres from Oromin's concession boundary, a broad soil geochemical anomaly is present. This anomaly measures approximately 400 metres in width and extends to at least 1,800 metres south of the concession boundary with MDL to the Maka Madina area where historical rock sampling by BRGM returned 64 g/t gold. Oromin has identified a second, sub-parallel soil anomaly measuring approximately 300 metres in width and extending to at least 1,200 metres south of the concession boundary with MDL that has returned soil results as high as 1.6 g/t gold. As at Golouma, there is an excellent correlation between the gold-in-soil geochemical anomalies and the recently identified IP geophysical anomalies, none of which have been previously drilled. Historical drill results obtained by BRGM from the Sabodala South deposit include 3.5 g/t gold over 32.0 metres.
Oromin has also completed two orientation test lines that crossed MDL's adjacent Sabodala deposit and Oromin's Masato prospect. Results from these test lines have confirmed coincident IP geophysical anomalies with soil geochemical anomalies at both the Sabodala deposit and the Masato prospect. This geophysical and geochemical correlation will assist Oromin in its exploration of the various targets throughout its Sabodala Property. Soil results from the Masato prospect have outlined a 350 metre wide gold-in-soil geochemical anomaly that crosses both of the 200-metre spaced orientation test lines. This anomaly coincides with an IP geophysical anomaly that correlates well with a broad area of favourable looking alteration, previous trenching and limited historical drilling by BRGM that returned results of up to 12.0 g/t gold over 5.3 metres and 7.85 g/t gold over 4.1 metres.
In addition to the resumption of ground geophysics, further prospecting, trenching and geochemical sampling at the high-priority areas of the Sabodala Property explored thus far, Oromin will begin to evaluate a number of other areas on this large property.
G. McArthur P.Geo., a "qualified person" for the purposes of National Instrument 43-101 has verified the data disclosed in the news release including sampling, analytical and test data. TSL Laboratories in Saskatoon completed sample analysis. Samples were fire assayed for gold, with AA finish.
To find out more about Oromin Explorations Ltd. (TSX VENTURE:OLE - News), visit www.oromin.com.
On behalf of the Board of Directors of
OROMIN EXPLORATIONS LTD.
Chet Idziszek, President
Contact:
Oromin Explorations Ltd.
David Scott
Investor Relations
(604) 331-8772
Fax: (604) 331-8773
www.oromin.com
No stock exchange has approved or disapproved the information contained herein.
Source: Oromin Explorations Ltd.
Centurion Gold (CGHI) buyout/buyup? [bewildering release?]
[ What/who is buying? First this says: "... management and board of directors intend to purchase ... up to 5 million ... on the open market ... for their personal holdings." Later it says "We have accepted an offer to be bought out at $.60 a share from a company that brings a tremendous amount of synergy for Centurion and the ability to raise capital for new projects." It does not name the acquiring company, but it's apparently Minmet PLC (MNT.L) on the London AIM. What's going on? It's down from over US$3 in 2004 to US$0.22 now. Centurion has or had gold properties in Mali and Gabon, among other places. FL ]
======================
Press Release
Source: Centurion Gold Holdings, Inc.
Management and Board of Directors Announce Their Intention to Buy up to 5 Million Shares of Centurion Gold Holdings
Thursday September 15, 6:00 am ET
JOHANNESBURG, South Africa--(BUSINESS WIRE)--Sept. 15, 2005--Centurion Gold Holdings, Inc. (OTCBB:CGHI - News), the only South African junior gold mining company publicly listed in the U.S., announced today that the management and board of directors intend to purchase up to 5 million shares of Centurion Gold Holdings' stock in the open market. The management and board of directors' decision to purchase additional shares for their personal holdings is based on the fact that they do not feel the value of Centurion Gold is fully reflected in the price of the stock.
"We have built a solid company through the acquisition of several properties that have a considerable amount of gold, platinum, chrome, and tin, with an estimated value in excess of $5 billion. We have accepted an offer to be bought out at $.60 a share from a company that brings a tremendous amount of synergy for Centurion and the ability to raise capital for new projects. The board of directors and I are excited about the future opportunities for Centurion Gold and feel that the value of the Company's mineral resources is not being recognized in the marketplace and are, therefore, taking this opportunity to increase our personal holdings in Centurion Gold," commented Dale Paul, CEO and Chairman of Centurion Gold Holdings, Inc.
About Centurion Gold Holdings, Inc.:
Centurion Gold Holdings is the only South African junior gold mining company publicly listed in the United States. The Company is executing a roll-up strategy acquiring proven mineral assets, "growth through acquisition"; these assets consist of near-revenue-stream and existing low-cost production operations with turnaround opportunities. Based in South Africa, the Company is ideally suited to exploit new legislation implemented by the government in May 2004. This legislation enforces a "use it or lose it" strategy, whereby all mining claims must be prospected within a designated time frame; otherwise, such prospects revert to the state, thereby creating never-before-seen opportunities, particularly for smaller companies like Centurion. The Company has built a strong team of experienced management and operations mining professionals to exploit these opportunities, and is positioning itself to become a major producer by continually implementing its "growth through acquisition" strategy.
Forward-Looking Statements:
Statements about the Company's future expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as the term is defined in the Private Securities Litigation Reform Act of 1995. The Company's actual results could differ materially from expected results. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances. Should events occur which materially affect any comments made within this press release the Company will appropriately inform the public.
Contact:
MCC Financial Services
U.S.:
Leslie Richardson, 310-453-4667 x239
ir@mccglobal.com
or
U.K. and Europe:
Carrie Howes, +44 (0) 207 408 5406
ir@mccglobal.com
Source: Centurion Gold Holdings, Inc.
========================================
Goldcrest (GCL.V) at Kampti in Burkina Faso
Goldcrest commences a new phase of exploration at Kampti in Burkina Faso
Monday September 12, 9:01 am ET
SOIL/ TRENCH TARGETS, COMBINED WITH LARGE AREA OF ARTISANAL GOLD DIGGINGS, REPRESENT WALK-UP DRILL TARGETS IN UNDER-EXPLORED AREA
TORONTO, Sept. 12 /CNW/ - Goldcrest Resources Ltd. ("Goldcrest"), (GCL-TSX.V) is pleased to announce the commencement of a new phase of exploration on its 244.5 km2 Kampti Concession ("Kampti"), located in southernmost Burkina Faso (see http://files.newswire.ca/329/West_Africa_Loc_0912.jpg). Kampti is reached by tarmac road from Gaoua in about 30 minutes or from Ouagadougou in about 5 hours (400 km).
Kampti is part of an area that was investigated in the 1970's by the UN-funded UPV74/004 project, which outlined a number of anomalous gold zones within the application area (see http://files.newswire.ca/329/Kampti_Geology.jpg). One area in particular - the Mamena Prospect - has, for some years, supported a village of artisanal gold workers with a fluctuating population averaging around 700 people.
During the past six to ten months, artisanal gold diggings here have grown rapidly to now support a village well in excess of 10,000 people dedicated largely to exploiting gold from narrow quartz veins and the altered host rocks.
The area was granted to Hyder Gold Inc. ("Hyder"), a Canadian junior mining company, in the mid-1990's, who undertook prospecting, mainly in 1997. This work appeared to focus on the Mamena Prospect, where soil geochemistry outlined several anomalous trends within a 2km by 3km area. One gold-in-soil anomaly was tested in some detail by bedrock trenching along a zone 1,000 m long by 700 m wide. Gold mineralization is associated with sheared and altered mafic volcanics, quartz veins, and small diorite intrusions. Trench intercepts reported by Hyder defined multiple bands of gold mineralization within a wide zone, including;
14 m (at) 2.54 g/t Au;
10 m (at) 1.97 g/t Au;
22 m (at) 1.15 g/t Au; and
10 m (at) 2.97 g/t Au.
These intercepts occurred over a strike length in excess of 500 m and provided sufficient justification for a drill program; however no drilling has been undertaken to date. Hyder withdrew its activities from Burkina Faso in the late 1990's due to adverse market conditions and financial constraints.
During a recent site visit, Goldcrest's President, Kevin Bullock commented: "We are pleasantly surprised by the extent and level of artisanal, small-scale, mining activity and encouraged that it is not only restricted to the narrow quartz veins, but also, in places, to the altered host rock. Interestingly, we had identified a large ovoid, 1500 x 700 m gold-in-soil anomaly, defined previously by Hyder, as a priority target. This target is well to the east of the original artisanal workings and was not trenched by Hyder. Presently it is the site of intense new artisanal diggings".
The quartz veins that define the mineralized system are oriented along N- to NW-trends, are very extensive across the sequence, and show indications of continuing well south of the Mamena grid established by Hyder.
Kampti represents an exceptional property that contains several walk-up drill targets at Mamena, the only prospect that has been evaluated in any detail to date. Goldcrest intends to carry out an initial Reverse Circulation (RC) drilling program at this prospect. Goldcrest has commenced a regional stream sediment survey on the entire property in order to assess other areas outside of the Mamena grid. This will be followed up by soil sampling and trenching to build on work carried out previously in the 1970's and 1990's.
Under the guidelines of National Instrument 43-101 the qualified person for the Kampti Gold Project is Mr. Michael Higgins who is a Fellow of the Australasian Institute of Mining and Metallurgy.
Goldcrest Resources Ltd. is a mineral exploration company focused on growing shareholder value through the advancement of its Youanmi project in Western Australia and its Malba and Kampti projects in Burkina Faso. The Youanmi project has a complete infrastructure including a Carbon in Pulp ("CIP") processing plant, Bactech bio-oxidation plant and a mine village on site. The CIP plant, which was built in 1986, is capable of processing 600,000 tonnes per annum through its circuit. The plant operated from 1987 through 1993 with an overall average recovery of 89.4% and is described in detail in the Technical Report prepared by RSG Global, which has been filed on SEDAR (www.sedar.com). The technical report also fully describes the Bactech bio-oxidation plant and other infrastructure. The Youanmi property has previously produced over 670,000 ounces of gold.
Goldcrest Resources Ltd. now has 51,263,073 common shares outstanding and 68,485,380 common shares on a fully diluted basis.
This press release contains certain forward-looking statements. While these forward-looking statements represent our best current judgment, they are subject to a variety of risks and uncertainties that are beyond the company's ability to control or predict and which could cause actual events or results to differ materially from those anticipated in such forward-looking statements. Accordingly, readers should not place undue reliance on forward- looking statements.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.
For further information please contact:
Kevin Bullock, P.Eng., President & CEO, Goldcrest Resources Ltd., kbullock@goldcrestresources.com,
Ph: (416) 867-2299,
Fax: (416) 867-2298,
Corporate Website: www.goldcrestresources.com
==============
Cassidy Gold raises $600,000 for Guinea exploration
2005-10-03 13:17 ET - News Release
Mr. James Gillis reports
NON-BROKERED PRIVATE PLACEMENT
Cassidy Gold Corp. has closed a non-brokered private placement with one investor for one million units at a price of 60 cents per unit. Each unit consists of one common share and one-half of one non-transferable share purchase warrant and each whole share purchase warrant will entitle the holder to purchase one additional common share at an exercise price of 70 cents per share for a period of one year from the closing date of the placement. Shares acquired by the placee are subject to a hold period and may not be traded until Feb. 4, 2006, except as permitted by the British Columbia Securities Act and regulations made thereunder. No finder's fee has been paid in connection with this placement.
The proceeds of the placement will be used to further the exploration of the company's projects in Guinea, West Africa, and for general working capital.
======================
Guinor's "50% rise" feels less impressive if you remember that it was at a higher price three days after it started trading in Toronto.
(Disclosure: I have some.)
FL
Adamus to recommence drilling at Southern Ashanti
2005-09-29 06:19 ET - News Release
Mr. Hamish Halliday reports
DIAMOND & RC DRILLING COMMENCING FIRST WEEK OF OCTOBER
Adamus Resources Ltd., following extensive regional work over the past three months, will recommence drilling at its Southern Ashanti gold project in the first week of October. The program will target extensions to both the Salman and Anwia deposits, as well as targeting new zones including the footwall lode and the recently discovered Avrebo prospect.
The pending drill program follows two years of successful exploration by the company which has yielded a resource base of measured and indicated 15 million tonnes at 2.1 grams per tonne for one million ounces of gold and inferred three million tonnes of 1.7 grams per tonne for 160,000 ounces of gold.
Initially, reverse-circulation drilling at the Salman deposit will focus on the footwall lode located only 200 metres east of the main Salman shear. Drilling will specifically target both the northern and southern extensions of the lode, which has already been identified over a strike length of 1,000 metres. With the mineralization currently open in all directions, there is significant scope for the discovery of additional ounces associated with the footwall lode.
The pending drill program will also target the northern extension of the Salman shear, which extends for at least an additional 2.7 kilometres of strike. This area, known as Akanko, hosts a historical high-grade underground mine, that to date has received minimal modern exploration.
In addition to the Salman trend, the company will also drill test the recently discovered Avrebo prospect located 10 kilometres southeast of Salman. Initial drilling will be carried out on 80-metre spaced lines, testing mineralization over a strike length of 350 metres. This preliminary work will provide valuable data for assessing the potential of the Avrebo mineralized system, which has already been defined over a combined strike length of six kilometres.
Exploration over the coming months will also include a geophysical survey involving IP (induced polarization), targeting disseminated sulphides within the Anwia system. The geophysical survey will be used to guide the pending diamond core drill program, due to commence in late October. The diamond drill program will seek to test for extensions and repeats of the high-grade lenses within the extensive alteration system that hosts Anwia deposit.
Significant results from the above diamond and RC drill program will made available to shareholders at the earliest opportunity.
We seek Safe Harbor.
Sanu (SNU) is in Burkina Faso too
Sanu has its main properties in Mali and in Eritrea, but is now also in Burkina Faso.
The header failed to recognize this Sanu holding in Burkina Faso:
"... Moule, the company's latest purchase, lies south of the Poura gold mine and has seen much artisanal mining."
An earlier (May) article on Randgold Resources (GOLD)
Gold mine development and exploration steam ahead
By: Jim Jones
Posted: '05-MAY-05 10:00' GMT © Mineweb 1997-2004
JOHANNESBURG (Mineweb.com) --There can, perhaps, be fewer things more frustrating to a miner than for production targets to be missed because of technical problems. And those frustrations are all that greater when the operations in question are managed and run by a partner.
That has been Randgold Resources’ experience at the Morila mine in Mali operated by joint venture partner AngloGold Ashanti. There had been hopes that Morila’s ore production would have been quickly lifted to the monthly target of 350,000 tons after the hitches of 2004. But the problems persisted which meant that total ore processing in the three months of this year’s March quarter was only 857,000 tons, lower than the December quarter’s total and still not up to scratch.
The March quarter’s gold production was sustained by processing ore that was richer than planned. And while this short-term high-grading should not affect the mine’s lifetime overall recoveries, it is not a technique one would like to see persisting for any great length of time.
Sorting out the technical problems at Morila’s processing plant will be a gradual process. And while tonnage processing capacity constraints remain over the next several months, gold production will continue to be boosted by working some higher-grade sectors of the mine’s ore-body.
Still, the Morila joint venture might be seen as something of a sideshow for Randgold Resources. The company’s immediate longer-term future lies with its developing Loulo property, again in Mali. By end-March, Loulo’s total gold resource had exceeded 8 million ounces, and shareholders can count on significant increases as exploration drilling progresses, particularly at the Yalea orebody currently calculated at 5.2 million ounces and open-ended at depth.
So far, mineralisation has been proved to exist to a depth of 780 metres and the next drilling phase involves holes probing down to 1,000 metres. And the focus is on a high-grade pay-shoot. While open-pit operations are building up steam at Loulo, planning and design of underground mining operations have advanced based on the additional geological information. CEO Dr Mark Bristow explains that the underground development study should be completed in the current quarter, which will allow a decision on the precise details of the underground-open pit interface. Bristow expects a start on underground development next year.
Funding should present no problem as the company has not yet drawn down its funding for Loulo and Morila is paying dividends that add to cash flow. But as Bristow puts it almost wistfully, finances are not a restraint but development opportunities can be. Which, of course, explains the diversity of the company’s exploration effort. Randgold Resources will not be entering into JVs in future – it wants to develop and manage its own mining projects.
Elsewhere in West Africa, exploration work in Senegal is uncovering mineralisation at the Sofia project with potentially attractive gold and drilling is being stepped up to prove up one of the 32 exploration targets. Exploration in neighbouring Burkina Faso is less advanced than in Senegal, but one target where good preliminary results have been indicated is being prepared for more-intensive drilling.
On the other side of the continent, geological work in Tanzania is at a preliminary stage, aimed at present on understanding the geology of gold mineralisation before any decision is taken on whether to spend money on establishing the existence of payable reserves.
Inevitably, it might seem, with any company targeting a range of gold prospects there will be other problems. In Randgold Resources’s case there is the Tongon project in Côte d’Ivoire where government troops and insurgents have been in something of a stand-off. Talks aimed at bringing the two sides together in a permanent settlement have progressing satisfactorily, the generals are talking to each other and an election date has been set. And while work has stopped for the present at Tongon, exploration and feasibility studies will start moving fast once the political situation stabilizes. Bristow says that he will be meeting with Ivorian government representatives later this month and that the Togon feasibility study is being “dusted off”.
All of which underscores the basic correctness of the Randgold Resources strategy of wide geographical spread. The focus is clearly on finding new projects.
FINANCIAL
During the March quarter gold revenues from Morila slipped to $32.0 million from the December quarter’s $33.7 million and operating profit to $10.6 million from $14.7 million. Lower recovery grades and lower mill throughput meant that gold production fell to 167,272 ounces in the March quarter from the December quarter’s 226,679 ounces. The production decline was mitigated by a higher average gold price of $428 an ounce against $369 in the fourth quarter of 2004.
Axmin recovers Kofi (by Loulo) from Newmont
AXMIN Regains Control of Kofi Project Area, Mali and Announces Updated Resource Estimat
TUESDAY, SEPTEMBER 27, 2005 10:02 AM - CCNMatthews
TORONTO, ONTARIO, Sep 27, 2005 (CCNMatthews via COMTEX) -- AXMIN Inc. (CA:AXM) is pleased to announce that it has regained control of four exploration permits, comprising the Kofi Project Area, in Mali following the withdrawal of a subsidiary of Newmont Mining Corporation (NEM-NYSE & ASX; NMC-TSX) from a joint venture over these permits. The Kofi North, Netekoto-Kenieti, Walia West and Walia permits, collectively referred to as the "Kofi Project Area", adjoin Randgold Resources Limited's Loulo project on the north and east sides - they cover the northern extension of the same host rock and structures that contain the Loulo and Yalea deposits for which Randgold previously announced a total measured, indicated and inferred resource of approximately 8 million ounces.
During the two year joint venture exploration program, which combined reconnaissance drilling of targets with substantial amount of effort in understanding controls of gold mineralisation on Loulo style structures, Newmont fulfilled its requirement to expend US$2.5 million. According to the terms of the joint venture Newmont would have been obligated to expend a further US$3 million in the third year to earn 50% of AXMIN's interest in the permits. Thereafter Newmont could have earned up to 75% of AXMIN's interest by funding the project through to completion of a positive bankable feasibility study on or before the 7th anniversary of the joint venture agreement (dated September 26, 2003) and if then not completed would have been obligated to make escalating annual advance payments to AXMIN until done so. More recently AXMIN carefully considered an alternative proposal from Newmont whereby Newmont would earn a reduced equity interest under different terms. However, this proposal was not considered to be in the best interests of the Company.
Deputy Chairman and President Dr Michael Martineau comments "With current gold prices and our objective of defining further deposits in west Africa capable of hosting over 1 million ounces and suitable for timely development, the return of the strategically located and highly prospective Kofi Project Area could not have come at a better time. The Newmont joint venture was entered into at a time of much lower gold prices and of our need to focus funds on the definition of resources on the Bambari Permits in the Central African Republic ("CAR"). As a result of this approach AXMIN recently announced the initiation of a pre-feasibility study at Bambari based on over 2 million ounces of total resources, being an indicated mineral resource of 1.072 million ounces (13.2 Mt grading 2.5 g/t Au) plus an inferred mineral resource of 1.109 million ounces (19.3 Mt grading 1.8 g/t Au) - this resource was previously announced on July 5, 2005 and prepared by independent consultants SRK Consulting. Having achieved our objective at Bambari we are delighted to be able to conduct our own sole-risk programs to drill test the many targets identified across the Kofi Project Area in parallel with our continuing work in the CAR. Details of the Kofi Project Area programs will be announced after we have completed our review of the joint venture data. However, we are already encouraged that as a result of a study commissioned by AXMIN from SRK Consulting we are able to announce an updated and increased resource estimate (see below) for the first two structures, both of which are open along strike."
Following drilling carried out under the joint venture AXMIN recently commissioned independent consultants SRK Consulting of the United Kingdom ("SRK") to prepare an updated in-situ mineral resource estimate on two adjacent blocks of mineralisation at the Kofi Project Area, known as Kofi SW Zone B and Kofi SW Zone C. The table below provides a detailed summary statement of the mineral resource estimate (with the cut off grade taken at 1.0 g/t Au) for these two blocks, which are located 2.3 kilometres apart:
Indicated Mineral Resource Inferred Mineral Resource
Tonnes Grade Ounces Tonnes Grade Ounces
(Kt) (g/t Au) (Au) (Kt) (g/t Au) (Au)
Zone B oxide 415 3.2 45,000 500 2.7 45,000
sulphide - - - 500 2.6 40,000
Zone C oxide - - - 430 4.4 60,000
sulphide - - - 600 5.2 100,000
Total oxide 415 3.2 45,000 930 3.5 105,000
sulphide - - - 1,100 4.0 145,000
Total 415 3.2 45,000 2,030 3.8 250,000
Grade interpolation was carried out using ordinary kriging. Classification of the mineral resource is based on quality control data, geological continuity and borehole spacing.
The updated mineral resource estimate has been based on some 15,800 metres of core, reverse circulation ("RC") and rotary air blast ("RAB") drilling completed across the resource blocks. The mineral resource estimate has been compiled in accordance with National Instrument 43-101 by independent consultants SRK, under the supervision of Mr Martin Pittuck (CEng, MIMMM), Principal Resource Geologist. SRK's report will shortly be available on the SEDAR website. The indicated resources were established from drilling on 40 metre fence spacings at Kofi SW Zone B and 20-80 metre fence spacings at Kofi SW Zone C, and to a maximum vertical depth of 130 metres at Kofi SW Zone B and 170 metres at Kofi SW Zone C. SRK considers the mineral resource to be in discrete veins which carry grades giving reasonable prospects for economic extraction, however further technical studies are required before mineral reserves can be estimated.
Chief Executive Officer Dr Jonathan Forster comments "AXMIN's management is excited about redeveloping its own programs on the Kofi Project Area, where multiple targets with potentially economic drill intersections have been identified with previous reconnaissance drilling. Especially given Randgold's recently reported discoveries at depth at both Loulo and Yalea, on the adjacent property, which demonstrate that large and high grade deposits can be discovered in this district below relatively narrow surface structures."
AXMIN is a mineral exploration company with a strong focus on gold in highly prospective properties across central and west Africa.
For more information regarding AXMIN visit our website at www.axmininc.com.
SOURCE: AXMIN Inc.
AXMIN Inc.
Jon Forster
Chief Executive Officer
+44 (0)1233 665600 (UK)
AXMIN Inc.
Judith Webster
Manager - Investor Relations
(416) 368-0993 (Canada)
ir@axmininc.com
www.axmininc.com
Randgold Resources (GOLD) pours first gold at Loulo,Mali
LONDON (SHARECAST) - 28 September 2005 - Gold miner Randgold Resources today announced that it had poured the first gold at its new Loulo mine in Mali, signalling the start-up of production.
Chief executive Dr Mark Bristow said the mine was expected to build up to design levels of commercial production in October, with its first commercial shipment of bullion due in November.
This will initiate a five-year tax holiday for the mine as prescribed by Mali's mining code, he added
“The first gold pour is an event of great symbolic significance in the development of a new mine,” Bristow said.
“In the case of Loulo, it crowns a considerable achievement by the Randgold Resources team, which fast-tracked this project in the face of substantial logistical odds while at the same time driving ahead our exploration programmes,” he added.
The Africa-focused miner also discovered the Morila mine, which has produced almost 3.5m ounces of gold since it was commissioned in October 2000.
Randgold: Brett Kebble found murdered at 41
Brett Kebble, who created both Randgold Resources and Randgold & Exploration, was just murdered. Two stories follow below.
Some of the wiseguys who posted comments on Mineweb urging Kebble's death might get some official visits...
==============
From Mining Weekly Online - 28 September 2005:
News Today
Brett Kebble found murdered in Jo'burg
NEWS
Mining entrepreneur Brett Kebble was found dead in the upmarket suburb of Melrose on Tuesday evening after shots were fired at his car.
The South African Police Service has confirmed that it has opened a murder investigation and has not ruled out the possibility of an assassination.
Roger Kebble, Brett's father, who was in France on business when the incident occurred, asked that his family's privacy be respected at this time.
Colleague and friend John Stratton said that Brett's friends and family were devastated.
“We are all in deep shock. Brett was one of my closest friends and I have the greatest respect for him as a visionary whose contribution to black empowerment in South Africa is enormous,” Stratton said in a statement.
Brett, whose full name is Roger Brett Kebble, was born on February 19, 1964, in the mining town of Springs, on the East Rand.
He matriculated from St Andrews, Bloemfontein, in 1981, and then went on to read for a BA LLB at the University of Cape Town, from where he graduated in1986.
His first job was as an articled clerk for Mellincks Cape Town, in the late 1980s, from where he took home a pay packet of R200 a month.
His father, Roger, was also his business partner and mentor and Brett had an entrepreneurial philosophy of life, arguing, “What you put in, you should get back tenfold”.
However, he was also controversial and the more orthodox business set was suspicious of his high-profile deal making.
He came to prominence through his involvement in the reshaping of Rand Leases in the early 1990s and was intricately, but initially opaquely, involved in the high-profile sale by Anglo American of its JCI gold assets to Mzi Khumalo in 1995. However, the two diverged strategically and the relationship ended unhappily a few years later.
Last month, he was also deposed from the companies he ran, Western Areas, JCI and Randgold & Exploration, following moves by concerned investors and stakeholders, Investec and Allan Gray.
Peter Gray, a former head of Société Générale SA and Tlotlisa Securities, has replaced Kebble as CEO of JCI and R&E, while a new CEO and chairperson are still being sought for Western Areas.
The announcements were accompanied by details of a proposed R639-million rights issue by Western Areas, to be underwritten to the extent of R250-million by a newly-formed JCI special-purpose vehicle. This vehicle is to be supported by a R460-million Investec loan facility and a commitment from Allan Gray (on behalf of its clients) to follow its rights. The transaction, should it proceed, would also trigger an offer to Western Areas minorities, but JCI said that it will request a special dispensation from the Securities Regulation Panel for a waiver of this requirement. JCI said the R460-million loan facility would enable it to follow its rights at Western Areas as well as allow it to take up other shares, up to a R250-million threshold, in the case where other shareholders decide not to follow their rights. The company said it would also allow the settlement of legal obligations of up to R75-million awarded to Peter Skeat's Benoryn Investments.
There is also an audit trail under way to determine the whereabouts of some R2-billion-worth of Randgold Resources shares, which R&E could not easily account for and which had either been loaned out or sold.
In public and private, Brett lived a flamboyant and sometimes tragic life. He had strong business and political connections and emerged as a key supporter of ousted Deputy President Jacob Zuma. He had strong business ties to the ANC Youth League.
He was reportedly a talented classical pianist and loved reading autobiographical and biographical work on historical figures, social and business leaders and sports personalities.
He came from a strong rugby family, with his brother, Guy, representing South Africa, but he also enjoyed tennis.
He was known for his love of good food and reportedly favoured Italian food and French wine.
He was viewed by some as a black-economic empowerment visionary, and was on record as saying that he detested people who had lost touch with other people and their everyday problems.
He married Ingrid in December 1990 and they had four children.
==============
from Bloomberg:
Gold baron's mystery shooting
Correspondents in Johannesburg
September 29, 2005
SOUTH African millionaire Brett Kebble, who helped create some of the country's largest gold companies but ran into financial and legal scandal, was shot dead yesterday near his home in Johannesburg.
Kebble, 41, was murdered while driving on Johannesburg's Atholl-Oaklands road.
"He was shot between 9pm (5am AEST) and 9.15pm," Chris Wilken, a spokesman for the South African police, said.
"He may have been followed. He was shot while he was driving. More than one shot was fired."
Nothing was taken from the car.
Kebble quit on August 30 as head of Western Areas Ltd, joint owner of a $US24 billion ($31.6billion) gold deposit near Johannesburg, and two other gold-investment companies.
His departure came after Western Areas ran out of money and he faced questions from investors in Randgold & Exploration Ltd over the whereabouts of shares worth $US268million.
Wilken said the police were unaware of the motive for the shooting.
As of 1am local time his body was still in his silver S-Class Mercedes car, parked on Atholl-Oaklands on a bridge above Johannesburg's M1 highway. He lived in the nearby Inanda suburb.
Kebble's 11-year career in South Africa's $5.5 billion-a-year gold industry spawned Harmony Gold Mining Co, South Africa's No3 goldminer, DRDGold Ltd, the fourth-largest, and the development of South Deep, the world's largest gold deposit, with Canadian partner Placer Dome Inc.
Keeble's financial problems were compounded by his bet in June 2002, through futures contracts, that the gold price would fall.
The price of bullion has since surged 40 per cent.
Kebble was born in the goldmining town of Springs, east of Johannesburg, and schooled in the Free State province before graduating in law from the University of Cape Town in 1988.
Teaming up with Adam Fleming, a relative of the James Bond spy-novel author Ian Fleming, Kebble joined Randgold, working initially under executive chairman Peter Flack. After accumulating a majority stake in the company, he fired Flack and installed himself as chief executive. He was 32 at the time.
"He was one of the brightest corporate financiers I ever met, and I've met some clever ones in my time," Flack said in an August 17 interview from Johannesburg.
Harmony, DRDGold and Randgold Resources Ltd, all of which were spun out of Randgold during Kebble's period as a director, have a combined market value of 34 billion rand.
Kebble's plan to weld together seven companies in which his family held stakes and trade the company's shares in Toronto was scuppered five years ago by Harmony's chief executive Bernard Swanepoel, a former mine manager under Kebble who started and won a hostile takeover for the biggest of the companies, Randfontein Estates Ltd.
The legacy of that contest is that Kebble faced charges of fraud, conspiracy and contravention of South Africa's Companies Act.
On November 3, 2003, Kebble said he would contest charges announced by Johannesburg High Court judge Joop Labuschagne.
Kebble is survived by his wife and four children.
Bloomberg
==================================
Actually paying even LESS/oz, considering St. Jude's other Ghana properties and nice prospect in Burkina Faso. What happened to cause this cave-in on price? (doubtless: "our stock failed to rise higher") Why not one-for-one at least, fellas?
I didn't invest in St. Jude looking for nickels and dimes..... was looking for a "bagger" that now is not to be .... sic transit gloria Benso....
Gold at C$10/oz! Golden Star is paying that for St. Jude's easily-mined near-surface gold at Benso. All gone for a mess of pottage. St. Jude was a C$4 stock a year or two ago. A decade ago it was an $8 stock, with less gold. C$3.10/share is paltry; so is today's C$3.39 equivalent.
If Golden Star is doing this thing, it might want to buy the Cape Three Points gold properties in Ghana now belonging to, and being squandered by, Axmin.
Ah rats. I wanted C$5/share St. Jude due to Benso gold deposit. Should be a coup for Golden Star if they use it well.
Glencar Mining PLC (GEX now on London AIM)
Admission to trading on AIM
23 September 2005
Glencar Mining plc (“Glencar” or “the Company”) is pleased to announce that its shares will commence trading this morning on the AIM Market of the London Stock Exchange under the symbol GEX. Glencar will continue to trade on the IEX market of the Irish Stock Exchange.
Glencar is an Irish-registered exploration company, focused on gold exploration in West Africa, with advanced exploration programmes underway in Sankarani in Mali and at Asheba, in Ghana. Glencar has a very successful exploration track record in Africa, having found two commercial gold orebodies there since the mid-1980s.
Glencar and Gold Fields Limited (“Gold Fields”) have recently signed a non-binding indicative offer relating to some of the Company’s exploration interests in the Sankarani region of Mali. The offer provides that Gold Fields, through exploration expenditures of up to US$12 million, may earn up to a 65% interest in the Bokoro, Sanioumale and Farasaba licences. Glencar has retained its full rights to the Komana licence, in the same region, which it intends to explore independently and where drilling is planned for later this year. The offer provides that Glencar will grant Gold Fields a right of first refusal on the Komana licence should it wish to bring in a partner in the future. The offer from Gold Fields is conditional on a number of issues, including satisfactory completion of due diligence, approval of the South African Reserve Bank and approvals of the Malian Government and the Executive Committee of Gold Fields Limited. Although there can be no certainty that the negotiations will complete satisfaction of the conditions precedent will lead to a formal, binding agreement between Glencar and Gold Fields. A further announcement will be made in due course.
Glencar’s Managing Director, Mr. Hugh McCullough said today:
“We are delighted to be commencing to trade today on the AIM market in London. In recent years, the AIM market has become one of the world’s foremost markets for the financing of the global exploration industry. Glencar has an increasing London based institutional representation on its share register and the AIM quotation will add significantly to the Company’s visibility in London and to the marketability of its stock.”
“The offer from Gold Fields is a major vote of confidence in our ground holding in Mali, and assuming satisfaction of the conditions precedent, we are delighted to have Gold Fields as a partner in our Mali exploration programmes. Gold Fields has unsurpassed experience and ability in the exploration and development of African gold resources and we are very confident of our combined ability to successfully continue the exploration of the very promising targets already established on these very prospective licences in Mali.”
Full details of the Gold Fields offer are contained in the Company’s announcement, issued on 31 August 2005, and available on the Company’s website at www.glencarmining.ie
For Further Information:
Glencar Mining plc
Hugh McCullough
Tel: +353 1 661 9974
e-mail: info@glencarmining.ie
Heneghan PR
Rachel Watchorn
Tel: +353 1 6607395
e-mail: rachel@hpr.ie
Glencar Mining
Glencar Mining is a Dublin-based exploration company with a focus on exploration and development of gold deposits in Africa. Glencar has found major gold deposits in Ghana, West Africa in both the 1980s and in the 1990s. The company has operations in Mali and Ghana in West Africa, in Uganda in East Africa and in Ireland. See: www.glencarmining.ie
Gold Fields
Gold Fields is one of the world’s largest precious metals producers with an annual attributable production of more than 4.3 million ounces of told and attributable mineral reserves of 81.5 million ounces. The company employs 48,000 people, including contractors, across its operations. See: www.goldfields.co.za
MISSING: Crew Gold ?
That Richland Report, speculating on the possibility of Crew Gold acquiring Guinor, included this:
" ... Guinor Gold Corporation by gold miner Crew Gold Corporation (CRU-Toronto & Oslo), whose stock has recently appreciated 1000%, with gold mining properties in Greenland, Guinea and the Philippines, ..."
Guinea!?? Yet Crew (CRU) is not in this board's header. Shouldn't it be there?
FL
"Guinor sky rocketing!" Cassidy isn't.
Birim Goldfields Inc.Drilling Underway at Tinga Gold Property;
Progress Report from the Field
MONTREAL, QUEBEC--(CCNMatthews - Sept. 19, 2005) - Birim Goldfields Inc. (TSX:BGI) ("Birim" or the "Company") is pleased to announce that drilling on the Far East Zone of the recently acquired Tinga Prospecting License in Ghana is underway. Of the 21-hole (3,000 meter) drill program announced in the previous news release (see August 03, 2005), nine holes are now completed. The objective of the current program on Tinga is to test the depth extension of the Far East Zone in order to move the project closer to a resource/reserve calculation in accordance with NI 43 -101. The program consists mostly of Reverse Circulation (RC) drilling with some diamond tails done on the deeper holes or in the vicinity of the expected mineralized zone. Samples are being prepared for assaying at SGS Laboratories in Tarkwa, Ghana.
Once the current drilling campaign is completed at Tinga, the drill will be relocated to Kuri, 10 kilometers to the East, where approximately 4,000 meters of drilling is planned to test the extensive gold-in -soil anomalies in this region. The Kuri region is underlain by the same geological environment (Dixcove granites) as the gold zones on Tinga, including the Far East Gold Zone.
Birim has also applied for the conversion of its 7,000 km2 Bui Reconnaissance License (the Bui District) into ten new Prospecting Licenses: the required status that allows companies to proceed with drilling. These Prospecting Licenses were designed to fully encompass the gold -in -soil anomalies that Birim has defined in the Bui region during the tenure of the Bui Reconnaissance License. Detailed soil sampling is already being carried out in four of the forthcoming Prospecting Licenses, and some of these targets are now ready for drill testing. Approval for the conversion to these licenses has already been obtained from the Minerals Commission in Ghana, conditional upon successful EPA permitting. This is expected to occur within the next few months and the Company is testing the availability of additional drill rigs to address these targets.
Stream sediment sampling is nearing completion on the Banda Ahenkro Reconnaissance License, the first of three newly acquired Licenses on the Bibiani-Sefwi gold belt in Ghana. During this phase, the Company has noted much galamsey interest on and near this license. On the Dunkwa royalty concession, Golden Star Resources (GSR) has been active with three drill rigs (diamond,
reverse circulation and rotary air blast) over several key areas. Definition drilling of the Mampon gold deposit has been pursued with 35 diamond holes (4,696 meters), 17 RC holes (1,368 meters) and 121 RAB holes (2,731 meters); the neighboring Aboronye zone has been drilled to a 30 meter depth with 52 RAB holes (1,000 meters) and the Aniamote anomaly, located in the southern portion of the concession, has been drilled with 106 RAB holes (2,439 meters). Over the next few months, GSR will initiate the permitting process and complete an inhouse
reserve/resource calculation.
Birim Goldfields Inc. is a royalty-based exploration company that is focused on gold exploration in Ghana, West Africa. The Company trades on the TSX under the symbol BGI.
CONTACT INFORMATION
Birim Goldfields Inc.
Denis Simoneau
President
(514) 393-8611 or 1-800-721-8611 (Toll-Free)
info@birim.com
www.birim.com
or
Birim Goldfields Inc.
Farah Alibhai
Investor Relations
(604) 731-7340
farah@birim.com
www.birim.com
You could add First Quantum Minerals to your Congo header.
First Quantum Minerals is mainly in DRC/Congo-Kinshasa but it also has a copper-gold property in Mauritania. See http://www.first-quantum.com It's traded as FM on the Toronto Stock Exchange and as FQM on the London AIM exchange.
Congo-Kinshasa seems such a dismal country. Your first USGS article notes that at least 3 million people have been killed, recently. Mineral rights disappear arbitrarily by government decree. A mineral discovery quickly leads to a renewed civil war as various factions try to grab it. Half of eastern Congo is "Kagamist" (Rwandan Tutsi Pres. Paul Kagame) and the other half is with the exiled Hutu genocidistes. UN Peacekeepers and other outsiders are coolly murdered, as are the locals en masse.
I met a US medic who had vaccinated people in Congo villages a few years ago. When he passed through later, all the people with vaccination scars had had their vaccinated limbs hacked off. Nice people.
Last year I wandered alone happily in the cities and back country of Ghana; I dropped in on some gold mines. I had a wonderful time everywhere and the whole place seemed friendly and civil. If I'd tried that in Congo, I'd be dead.
I read the book "King Leopold's Ghost" -- not only is Congo horrifying now, it has been horrifying for at least 150 years. The Belgians were awful, chopping off hands of those natives who failed to make their rubber quotas. Mobutu was awful. The resource-grabbing governments and factions now are awful. (And what business has a country like Zimbabwe in the Congo anyway?)
West Africa has a long and rich cultural history: kingdoms, empires, sagas, art, scholarship, coastal castles, trading routes, varied cultures, etc. What history does Congo have? Basically huts and horror. The reason King Leopold of the Belgians originally grabbed the Congo around 1880 was that there was basically nothing there and nobody else had wanted it.
An old scotsman in the tropics once told me "Where the bugs are bad is where the money's to be made." That's a reason to invest in Congo, I guess. Congo and Sudan are arguably the world's worst countries now. And mineral or oil discoveries just seem to make them even worse.
[ duplicate of message on West Africa Gold Exploration board ]
Congo-Kinshasa seems such a dismal country. Your first USGS article notes that at least 3 million people have been killed, recently. Mineral rights disappear arbitrarily by government decree. A mineral discovery quickly leads to a renewed civil war as various factions try to grab it. Half of eastern Congo is "Kagamist" (Rwandan Tutsi Pres. Paul Kagame) and the other half is with the exiled Hutu genocidistes. UN Peacekeepers and other outsiders are coolly murdered, as are the locals en masse.
I met a US medic who had vaccinated people in Congo villages a few years ago. When he passed through later, all the people with vaccination scars had had their vaccinated limbs hacked off. Nice people.
Last year I wandered alone happily in the cities and back country of Ghana; I dropped in on some gold mines. I had a wonderful time everywhere and the whole place seemed friendly and civil. If I'd tried that in Congo, I'd be dead.
I read the book "King Leopold's Ghost" -- not only is Congo horrifying now, it has been horrifying for at least 150 years. The Belgians were awful, chopping off hands of those natives who failed to make their rubber quotas. Mobutu was awful. The resource-grabbing governments and factions now are awful. (And what business has a country like Zimbabwe in the Congo anyway?)
West Africa has a long and rich cultural history: kingdoms, empires, sagas, art, scholarship, coastal castles, trading routes, varied cultures, etc. What history does Congo have? Basically huts and horror. The reason King Leopold of the Belgians originally grabbed the Congo around 1880 was that there was basically nothing there and nobody else had wanted it.
An old scotsman in the tropics once told me "Where the bugs are bad is where the money's to be made." That's a reason to invest in Congo, I guess. Congo and Sudan are arguably the world's worst countries now. And mineral or oil discoveries just seem to make them even worse.
Managem up 70% lately
Moroccan mining company Managem (MNG on the Casablanca Stock Exchange, see http://www.casablanca-bourse.com/ ) has a majority interest in gold miner Semafo (SMF.TO). Managem in turn is controlled by ONA, a group that is a said to be controlled by the king and royal family of Morocco.
Managem stock was doing badly for a long time until this summer. Recently it has risen 70% from its 2005 low, on the Casablanca exchange.
There are reports of disagreements between the Managem and Semafo managements. There was an official announcement of a possible pending substantial change in Semafo ownership. I never figured out what that betokened. (I have some Semafo shares.)
FL
Avnel Gold (AVK.TO) of Mali has a web-page now
Avnel Gold, working in Mali, recently listed on the Toronto Stock Exchange as AVK. Now it has a new web-page: http://www.avnelgold.com/
This has been added to the board header.
FL
Cluff Gold (London:CLF) in Mali, Cote d'Ivoire
Gold miner in Mali agreement
[ From Mining Weekly online -- September 14, 2005]
Gold miner Cluff Gold has announced that it has signed a joint venture agreement to acquire a majority interest in the 200 km_ Karbasso research licence in Mali from Kadiel Mining, a Malian company.
The licence area is located some 250 km due south east of Bamako, the capital of Mali, and is believed to be prospective for Birimian gold deposits.
Technical director Douglas Chikohora comments: “Our focus in Mali will initially concentrate on validating and expanding the gold in soil anomaly as reported by the UNDP before detailed follow up exploration.
“We are pleased with our latest addition to our land holding, which is consistent with our strategy of concentrating the company's development focus on the prospective Birrimian gold belts of West Africa.'
Extensive exploration data by previous workers, including the United Nations Development Programme, exists about the licence area, a significant amount of which is already in the public domain.
The transaction is subject to approval by the Malian Government under the country's mining laws, which is expected to be received within three months.
Geological consultant David Pelham concluded in a recent structural and geological study that the eastern side of the licence area is underlain by a major NNE trending structure, which also underlies the Syama gold mine licence some 20 km to the south.
Gold in soil anomalies identified by the UNDP appears to be coincident with this major structure, which also appears to host the five-million ounce Syama gold deposit of Resolute Mining along strike to the south.
Under the terms of the JV Agreement, Cluff Gold will make an initial payment to KM to earn a 90% interest in the Karbasso licence area, including access to the licence area to conduct an exploration programme.
Cluff Gold will carry KM to the conclusion of a bankable feasibility study at which point, if Cluff Gold decides to develop any deposit, KM and Cluff Gold will establish a new company, Karbasso Gold Mines, in which the two companies will have interests of 10% and 80% respectively.
The remaining 10% interest will rest with the Mali State, which will also be entitled to appoint a director to the board of Karbasso Gold Mines.
The company also announces that it has begun a validation drilling programme at the Angovia Gold Project, which is part of the Mt Yaoure Licence in Cote d'Ivoire. The purpose of the programme, which is anticipated to last for about three weeks, is to further assess the sulphide and oxide potential of the project.
Speaking of Guinean(Bissau) mining investments...
tackler mentioned the non-gold miner Global Alumina mining for alumina in Guinea. Another non-gold mining asset is in nearby Guinea-Bissau -- possibly the only mining or industrial asset in that whole country. That is the Farim phosphate deposit owned by Australian company Red Back (RBI.TO) which is also one of our Ghana gold miner/explorers with its Chirano mine and other gold properties. For a map and description of the Farim phosphate project in Guinea-Bissau, see http://www.redbackmining.com/s/GuineaBissau.asp?ReportID=86972
FL
Moydow Mines (MOY.TO) Plans AIM Listing
September 12, 2005 - Toronto, Ontario. - Brian Kiernan, President and CEO of Moydow Mines International Inc, announced that Moydow plans to list on the Alternative Investment Market (“AIM”) of the London Stock Exchange.
The Company plans to list 30,811,782 Common Shares of zero nominal value, raising no capital. The anticipated accounting reference date is December 31, 2005 and the expected admission date is September 30, 2005.
The nominated broker and advisor is J & E Davy, trading as Davy. Moydow Mines is engaged in the acquisition, exploration and development of mineral properties worldwide. Corporate information is available on the Company’s website www.moydow.com. The Company is listed on the Toronto Stock Exchange (symbol “MOY”). For further information please contact Michael Power, Vice President, Corporate Development at 416-703-3751.
“Signed"
Brian Kiernan
President & CEO
Cassidy (CDY) up 60% on volume. Why?
Haber (HABE) and Gold City $10 Million Joint Funding Venture; Agreement Will Expedite Expansion of Operations, Acquisitions
ARLINGTON, Mass., Sep 12, 2005 (BUSINESS WIRE) -- Haber, Inc ("Haber"), (HABE), a Delaware corporation headquartered in Arlington, Mass., with proprietary technologies for the environmentally friendly processing of gold bearing ores and other precious metals recovery from E-waste (electronic waste generated from discarded computers, cell phones, TVs, printers etc), announced today that it has signed an agreement to enter into a joint venture with its licensee, Gold City Inc. ("Gold City"), a privately held Nevada mining and exploration corporation that owns and controls gold mining sites in Nevada, Arizona and Ghana.
Under the terms of the joint venture, Gold City will provide up to $10 million to Haber Inc. ("Haber") in exchange for up to a total of 5 million shares of Haber restricted stock and for up to a total of 50 percent of all profits generated by Haber's recently acquired Okeechobee, Fla., gold ore and E-waste facility, along with other designated precious metals related projects, including certain aspects of previously announced and future operations that are to be financed with the funds. In the event that Gold City does not provide Haber with the entire $10 million, it will receive a lower number of shares of Haber common stock and reduced profit participation.
Haber has already received $300,000 from Gold City as an initial installment. Gold City anticipates that it will raise the balance of the funds through a private placement of its own shares and/or through other capital markets.
As part of the terms of the agreement the board of directors of Gold City has announced the appointment of Albert B. Conti, Haber's president and COO, to the Gold City board of directors. Daniel Dajie, Haber's vice president of commercial development also serves as one of the five Gold City directors.
Conti stated "This joint venture agreement will provide the financial resources necessary to fund our commercial activities on an accelerated basis, which include Haber's expanded Florida operations and other joint venture projects in the United States and Ghana. Also, this synergistic arrangement provides Gold City with the opportunity to share revenues in E-waste and other specific Haber minerals-related opportunities, while at the same time allowing Haber to share in Gold City revenues." Haber currently owns 2 million shares of Gold City stock from its licensing agreement, which represents approximately 20 percent of Gold City's currently outstanding common stock.
In addition, under its existing licensing agreement with Gold City, Haber receives royalties on all mining projects outside this joint venture.
Norman Haber, CEO and chairman of the board, Albert B. Conti, Haber's president and COO and Peter D'Angelo, Haber's CFO, executive vice president and secretary, have acquired interests in Gold City, Inc.
"We are pleased to enter into this joint venture agreement," said Patrick Anfinson, president of Gold City, Inc. "It strengthens the already close ties between our two companies and will provide shareholders with revenues from E-waste processing and ore production expected in the short term from Haber's Florida plant, and other joint projects which will help fund our ongoing and future mining and exploration activities. Gold City's objectives have always been to provide maximum shareholder value, while at the same time helping to preserve the environment. We believe that these goals are not mutually exclusive and can be best achieved by our use of the environmentally friendly Haber processes with their superior extraction and recovery characteristics."
About Gold City, Inc.
Gold City, a privately held Nevada corporation, is engaged in mining and exploration and owns and controls gold mining sites in Nevada, Arizona and Ghana, West Africa. The company is Haber Inc.'s licensee for application of the mercury and cyanide-free Haber Gold Process (HGP) and the Haber Recovery Process (HRP). Through its subsidiary, Gold City Ghana, Ltd., Gold City is currently assisting Haber's subsidiary, Haber Mining Ghana Ltd., in the implementation of the Strategic Abatement of Mercury and Poverty Program ("STAMP") and in other mining projects.
About Haber, Inc.
Haber, Inc. is a high technology process development company with proprietary technologies in extractive metallurgy and electrochemical separations. These technologies include the company's Haber Gold Process (HGP) and Haber Recovery Process (HRP), chemical systems discovered by Norman Haber, the chairman of the company, for the hydrometallurgical extraction and recovery of gold from its ores. The Haber Gold Process is both non-toxic and more efficient than conventional solvents such as cyanide. This technology accelerates the gold extraction rate and may increase gold recovery from its ores by a substantial factor. The company's Electromolecular Propulsion (EMP) technology is an electrochemical process that enables the electrically controlled movement or positioning of a variety of different molecules. It is distinguished from the techniques of electrophoresis and chromatography by its wide variety of potential applications and the greater speed and control of the results. For more information, call Peter R. D'Angelo (781) 643-2727, or visit the company's website at http://www.habercorp.com.
Safe Harbor Statement
Any statements contained herein that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and involve risks and uncertainties. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance and underlying assumptions. These statements are subject to uncertainties and risks including, but not limited to, economic conditions, the impact of competition and pricing, government regulation, and other risks. All forward-looking statements made by or on behalf of Haber Inc. or Gold City, Inc. are qualified. Haber Inc. or Gold City, Inc. disclaim any obligations to update any forward-looking statements to reflect events or circumstances after the date hereof.
SOURCE: Haber, Inc.
Haber, Inc.
Peter R. D'Angelo, 781-643-2727
Copyright Business Wire 2005
African Gold PLC taken over by Mwana Africa
[ This is the one traded in London, not African Gold Group traded as AGG in Toronto. It has Konongo and Banka properties in Ghana. The acquirer, Mwana Africa Holdings, appears to be owned by a group of African investors from several countries, with an emphasis on Zimbabwe. I wonder what its relation to Robert Mugabe is. FL]
LONDON (AFX) - UK mining company African Gold PLC will be taken over by unlisted African peer Mwana Africa Holdings in the next few days, according to the Sunday Telegraph.
Citing sources close to the deal, the paper said the reverse takeover would create a group with a market capitalisation of 60 mln stg. African Gold is worth just 15 mln stg at current prices.
sd/bam
COPYRIGHT
Copyright AFX News Limited 2005. All rights reserved.
Red Back discovers new gold (Enchi, not Chirano)
Red Back Mining cuts three g/t Au over 15 m at Enchi
2005-09-08 14:14 ET - News Release
Mr. Richard Clark reports
RED BACK MAKES NEW GOLD DISCOVERY IN GHANA
Red Back Mining Inc.'s regional exploration program on its extensive (5,635-square-kilometre) mineral landholding in Ghana has been successful in identifying a new gold discovery.
The 627-square-kilometre Enchi project is located between 40 and 90 kilometres south of the company's Chirano gold mine and straddles the Bibiani shear zone which hosts Chirano and the Bibiani gold mine (more than five million ounces) owned by AngloGold Ashanti. In early 2005 the company commenced first pass trenching (1,833 metres) and rotary air blast (RAB) drilling (more than 5,000 metres) programs on two gold-in-soil anomalies at Enchi: the Boin Valley East anomaly and the Boin Valley West anomaly (see news in Stockwatch on Nov. 15, 2004).
Boin Valley East
The northern 2.2 kilometres of the 4.5-kilometre-long more-than-100-part-per-billion (ppb) Boin Valley East anomaly has been tested with five trenches and 44 shallow RAB drill holes to a maximum depth of 70 metres.
Based upon the limited amount of testing to date it is interpreted that two gold mineralized zones 500 metres apart have been identified, both dipping shallowly to the west in very heavily weathered Birimian volcanics and sediments. The eastern zone extends over a strike length of 600 metres and comprises numerous low-grade trench and RAB intercepts within an anomalous halo up to 45 metres wide. The western zone has only been intersected in one trench to date (SWTR 1 -- 60 m at 0.80 gram per tonne (g/t)). Several drill intercepts were also recorded in an intermediate zone between the two main zones and a trench located 800 metres south of the RAB drilling has returned very wide low-grade intercepts (SSTR 1 -- 249 m at 0.45 g/t).
The zones of the Boin Valley East anomaly remain open in all directions. Significant results include:
BOIN VALLEY EAST TRENCH INTERCEPTS
Inters- Inter- Grade
ection val Au
Trench Zone m m g/t
SWTR 1 West 0-60 60 0.80
SWTR 4 East 50-80 30 0.64
SSTR 1 South 68-317.4 249.4 0.45
Incl. 68-112 44 0.57
Incl. 160-230 69 0.55
Incl. 288-315.8 27.8 0.77
BOIN VALLEY EAST RAB DRILLING INTERCEPTS
Grade
Depth Int. Au
Hole Zone m m g/t
SWRB012 Intermediate 2-11 9 1.29
38-53 15 0.48
SWRB015 Intermediate 2-11 9 0.83
SWRB016 East 47-65 18 0.53
EOH
SWRB017 East 14-26 12 1.05
SWRB018 East 2-23 21 0.72
SWRB023 East 26-42 18 0.44
SWRB028 East 23 24 0.68
SWRB041 Intermediate 26 15 0.72
SWRB044 Intermediate 35 18 0.71
Note:
1. EOH means end of hole.
2. There is insufficient drilling to determine true width of down hole drill intercepts.
BOIN VALLEY WEST RAB DRILLING INTERCEPTS
Grade
Depth Int. Au
Hole m m g/t
KBRB006 29-41 12 1.60
KBRB041 47-53 6 1.77
KBRB042 17-38 21 0.70
KBRB049 0-17 17 1.53
KBRB050 2-14 12 0.76
KBRB051 2-17 15 3.00
KBRB052 2-11 9 1.13
Mineral Deposits (MDL on ASX) hits in Senegal
Senegal success as junior gets lucky
Robin Bromby -- The Australian
September 09, 2005
A LARGE gold deposit in a remote part of Senegal looks as if it was worth fighting for.
After 10 years of dispute and delay, with a cast of characters that included Robert Champion de Crespigny, drilling at the Sabodala prospect has produced what the new owner has described as "outstanding" results.
Melbourne-based junior Mineral Deposits has reported a number of high-grade hits in its quest to prove up a million ounce reserve.
One hole contained near-continuous mineralisation from 13m below ground to a depth of 101m. Others returned 57m at 4.76 grams a tonne and 18m at 14.34g/t -- results that would leave investors ecstatic if they occurred near Kalgoorlie.
The company is now on track to produce gold in 2007 with the comfort of owning 100 per cent of the project -- with the backing of the Senegalese Government.
Its drilling success ends a 10-year saga surrounding Sabodala -- one that brought another Australian junior, Paget Mining, to its knees.
Paget in 1994 signed a deal to buy 51 per cent of Sabodala from the French government body, Bureau de Recherches Geologique et Miniere.
But before the new mining licence was issued by the Government, BRGM joined forces with Mr de Crespigny's Normandy Mining to launch a new metals vehicle, LaSource. Sabodala was then sold into LaSource, leaving Paget out in the cold. Paget and Normandy fought it out, with the matter ending up in arbitration at the International Chamber of Commerce.
Meanwhile, a Senegalese company took matters into its own hands and started mining Sabodala without a licence.
In the end, Paget ran out of money. It is now a listed biomedical company Solagran. Normandy was taken out by Newmont Mining. The illegal mining stopped -- and then Senegal put the project up for tender.
Mineral Deposits won the race against competing bids from AngloGold, Newmont Mining, Gold Fields of South Africa, Placer Dome, Randgold and others.
But it wasn't just a case of plucky little Melbourne company beats global giants.
Mineral Deposits was already at work in Senegal on a mineral sands deposit and its managing director, Jeffrey Williams, already had many dealings with the country's mines minister and top officials.
"I knew them well," he said.
So well, in fact, that the Senegal Government asked Mr Williams to tender for Sabodala.
He makes sure that this relationship continues and makes frequent visits to Dakar.
Now Mr Williams is aiming at finishing drilling in early 2006, completing financing mid-year and to be getting gold out of the ground by next year.
Sabodala is located 450km inland near the Mali border.