Burkina Faso now in commercial production: High River Gold (HRG.T)

Sep 26, 2007 08:24 ET
High River Gold Achieves Commercial Production at the Taparko-Bouroum Gold Mine

TORONTO, ONTARIO--(Marketwire - Sept. 26, 2007) - High River Gold Mines Ltd. (TSX:HRG) ("High River") is pleased to announce that it has achieved Commercial Production at its Taparko-Bouroum Gold Mine in Burkina Faso. The criteria established for Commercial Production stipulated that all components of the processing plant were to operate for 30 consecutive days at 60% capacity or better. Mill throughput during the 30 day period ending September 24th, 2007 totaled 60,825 tonnes, representing an average capacity utilization of 74%. The mill is currently operating at over 80% capacity.

The effective date of Commercial Production for accounting purposes will be October 1, 2007, at which time gold sales and operating costs will begin to be reported on High River's income statement. Prior to October 1, 2007, gold sales and operating costs have been capitalized for financial reporting purposes.

The Taparko-Bouroum Gold Mine produced 3,623 ounces of gold during the 30 day commercial production evaluation period. Prior to the commencement of the evaluation period, a total of 1,269 ounces of gold was produced. It is anticipated that up to October 1, 2007, a total of 5,642 ounces will have been produced with the associated revenue being credited against the capital cost of the project.

Gold production for 2007 is expected to total approximately 30,000 ounces, with annual production planned at 100,000 ounces, rising to over 140,000 ounces in the third year of operation. Approximately 214,000 tonnes of ore (equivalent to three months of production) remain stockpiled, ready for processing.

The successful start of commercial production at the Taparko-Bouroum Gold Mine is a major accomplishment and milestone in the growth of High River, as it is the first gold mine taken from discovery through to production entirely by the High River team. The Taparko-Bouroum Gold Mine also marks the revival of a modern gold mining industry in Burkina Faso, as it is the first commercially operated gold mine in the country since the last gold mine closed in 1999.

The official Mine Opening Ceremony will be held on October 8, 2007. Joining High River in celebrating this momentous occasion will be the Prime Minister of Burkina Faso, federal and local government officials, as well as the local community.

About High River

High River is bringing two new open-pit gold mines into production this year, the Taparko-Bouroum Gold Mine in Burkina Faso and the Berezitovy Gold Mine in Russia (4th quarter). Annual gold production from Taparko-Bouroum is planned at 100,000 ounces for the first 12 months increasing to over 140,000 ounces in the third year of operation, and annual production from Berezitovy is expected to exceed 100,000 ounces. Combined with gold production from High River's 85%-owned Russian subsidiary, OJSC Buryatzoloto, High River's attributable unhedged gold production is expected to be approximately 175,000 ounces in 2007, and to exceed 300,000 ounces in 2008. In addition, the Company has two advanced exploration projects, the Bissa Gold Project in Burkina Faso and the world-class Prognoz Silver Project in Russia. These projects are expected to significantly add to the Company's production profile in the future.

Forward Looking Statements - This press release contains forward-looking statements based on current expectations. These forward-looking statements entail various risks and uncertainties that could cause actual results to differ materially from those reflected. Risk and uncertainties about the Company's business are more fully discussed in the Management's Discussion and Analysis published in the Company's Annual Report and in the Annual Information Form.
For more information, please contact
High River Gold Mines Ltd.
Dan Hrushewsky
Vice President, Investor Relations
(416) 947-1440
(416) 360-0010 (FAX)
Email: info@hrg.ca
Website: www.hrg.ca

Australian-traded West African golds suddenly doing very well now. E.g., Resolute (RSG in Sydney) and Gryphon (GRY in Sydney). Perseus (PRU in Sydney) has been a gem.

Semafo almost ready to go in Burkina Faso. See:

http://www.kitco.com/pr/1170/article_09182007085121.pdf

Lundin Mining to trade on NYSE

http://www.kitco.com/pr/1267/article_09192007123812.pdf

ACTION: Searchgold (RSG.V) gapped up 26.83% today. I don't know why. Something in Mali? Gabon? Morocco? Who knows.... The other were mostly pretty quiet today, considering the gold price rise.

Randgold (GOLD) did OK too, in fact Randgold, Red Back (RBI.T), and High River Gold (HRG.V) are the only three of the West African golds now in the "DONE WELL" category in my "simplistic triage" system. (price today exceeds 50-day average which exceeds 200-day average, --- or: black over blue over red line today in our Stockcharts.com charts.)

With gold at US$726/oz. the group has some catching up to do.

FL

Orezone (OZN) & Gold Fields (GFI) positive in Burkina Faso. See:

http://biz.yahoo.com/iw/070911/0300615.html

Avnel Gold Mining (AVK.T) to rethink things:

http://www.kitco.com/pr/1768/article_09172007081238.pdf

A recent (low) limit order buy on TSX for a bunch of the very thinly traded Avnel stock found no sellers.

PMI reports promising gold intersections in Ghana; 1-2 m oz speculation
--------------


Africa, besides being the cradle of civilization, is also host to some of the world’s oldest and richest gold mines.

Ngwenya Mountain in Swaziland hosts what is believed to be the world’s oldest mine, where early man mined hematite and specularite over 42,000 years ago.

PMI Gold's properties are all located in Ghana's Golden Triangle, an area in southwest Ghana with combined current reserves and historical gold production of 170 million ounces. Gold has been mined in Ghana for over 1000 years, and the famous AngloGold Ashanti Obuasi mine has been in continuous production for 110 years.

PMI Gold now has interests in 14 concessions in Ghana on the Asankrangwa and Ashanti Gold Belts, for a total of 669 square kilometers.

In November 2006, PMI Gold acquired the 89 square kilometre Abirem and Abore concessions - which cover the former Obotan Mine operations of Resolute Mining of Perth – from the Ghanaian government. Resolute ceased mining in 2002 after a total of 730,000 ounces of gold were produced, with 590,000 ounces mined at 2.2 g/t gold from the Nkran pit, and a further cumulative 140,000 ounces from the Adubiaso and Abore pits. The price of gold, at then less than $320 per ounce, had rendered the remaining known ore body uneconomical for further development.

Prior to completing the mining at the Nkran pit, Resolute conducted extensive studies on the feasibility of continuing mining from underground mineralization beneath the pit. Modeling completed with a US$350 gold price suggested good potential for establishing an underground operation.

PMI Gold believes there is an exploration target of one to two million ounces of gold grading from 3.0 to 6.0 g/t below the Nkran pit based on previous deep drilling results and projections to 400 m below the deepest intersection.

Resolute had previously completed internal studies concerning underground mining scenarios to co-exist with their surface mining. These preliminary studies were based on 58 drill holes which intersected +3.0 g/t gold mineralized material below the level of the pit.

Other results from these studies indicate that:

• higher grades are contained within lower grade envelopes and dilution won't be critical;

• screen fire assay retests conducted on high grade intersections indicate a significant coarse gold component to the high grade zones which may not be reflected in the current assay database;

• metallurgical test work on drill core composites from beneath the pit indicated recoveries of +96.6% on leached concentrator tails with +75% of the gold reporting to the gravity circuit; and that the assay database may be significantly under calling the grades of the high grade lodes as the metallurgical leach tests returned a 52% upgrade over the original screened 50 gram gold fire assays;

• modeling suggests that the majority of the high grade mineralization is within structures which are vertical with good continuity horizontally and vertically;

• the Western zone, also referred to as the Galamsey Reef, remains open to the south and at depth.

Two major near vertical gold bearing structures have been partially outlined by the previous drilling - called the Western and Eastern high-grade lodes. Most of the deep diamond core drilling targeted these lodes under the south end of the pit.

Using a top assay cut of 30.0 g/t gold and estimating true widths to be 55% of the mineralized intersection lengths, 30 drill intersections beneath the level of the pit exceed 22.5 gram gold per tonne metres.

These intersections have an average indicated true width of 4.40 metres and weighted average gold grade of 10.02 g/t gold. The deepest down plunge intersection was 8.80 metres true width, grading 8.15 g/t gold, and located 326 metres below the pit.

With gold above $600 per ounce, this historic, non-43-101 compliant data certainly lends itself to the compelling logic of focused development, and that is precisely what is underway at the site.

According to company CEO Douglas MacQuarrie, “Gold mineralization has been outlined to a depth of 425 metres below the pit with true widths varying from 20 to 45 metres. Within this bulk mineralized zone there are significant high grade drill intersections including 7.0 metres of 12.28 g/t Au; 8.0 metres of 10.00 g/t Au; 5.0 metres of 23.00 g/t Au; and 4.0m of 10.00 g/t Au. In order to prove the viability of this zone for bulk or selective mining, further detailed drilling will be required, preferably from underground drill stations as suggested by RSG Global in their recent concept study report on the Nkran mineralization.”

Highlights from the drill results announced last week include 44.5 m of 2.61 g/t gold in hole NK07-001 which tested the down dip extension of the Nkran pit orebody 330 m below the base of the previously mined pit; and 2.7 m of 8.91 g/t gold in NK07-005 collared 170 m to the south of the southern end of the pit.

And if there is any doubt as to the potential for an ‘elephantine’ sized orebody at Obotan, consider this:

If you were to draw a circle 120 km in radius from the center of the Obotan concession, it would enclose in the neighborhood of 80 million ounces of as yet un-mined gold, with one deposit measuring in excess of 10 million ounces gold, and the AngloGold Ashanti mine, which still contains an estimated 25 million ounces of gold and is currently under rehabilitation to permit mining to over 3 km in depth! Newmont, Goldfields, GoldenStar, and RedBack all have operating mines and juniors Central African Gold (Bibiani), Keegan (Bonte) and Perseus (Ayanfuri) are all defining orebodies for near term production.

This article is intended for informational purposes only and should not be considered as a recommendation to buy stock in any company. Although the author has made efforts to verify the information contained herein, the accuracy of all the information cannot be guaranteed. As always, it is recommended that you commit considerable time to completing your due diligence before buying stocks in publicly traded companies. A fee has been paid for the creation and distribution of this article.

Taiyuan (the chief city of Shanxi province, China) is a big, rather dull, dirty industrial city, in one of the world's most air-polluted coal mining areas. Often you can't see one block away. A bit lacking in glamor. Dunno anything about the stores, but these warrens of owned or rented one-room specialized mini-stores are common and popular in China, even for high-tech and high-end products.

How is this company for long-term appreciation, as opposed to standard shell-flipping?

Haber (HABE) stock is certainly moving, having just doubled this month. I don't know to what degree it's now considered a new-technology company (with its original substitute for electrophoresis and nontoxic Haber Gold Process) versus a gold explorer and miner with multiple gold properties in Ghana. Disclosure: I've had a little bit for years, which I bought for Norman Haber's chemical processes, not for the gold mines in Ghana. But if they find gold, I can't really complain...

I jumped into BQI at about $2.70 meaning to have done so at $2.50, - missed that, but not unhappy so far. If it quadruples soon, then I'll (that is, if I have any self-discipline) sell half. That's my intended general default (if-no-better-ideas) rule for when to sell a stock.

My mom says all "oil" sands (aka tar sands) properties are rubbish and will never genuinely make a dime since they require too much total energy, including clean-up, per unit of energy produced. I don't know whether that's right. FL

Birim(BGI.TO)-Newmont Sefwi JV, for Newmont's Bui rights

(Can't decide whether this augurs well or ill for my long-awaited Bui bonanza hit. FL)

BIRIM GOLDFIELDS INC.
1155 University St., Suite 812
Montreal, Quebec, Canada H3B 3A7

For immediate distribution

BIRIM CONCLUDES AN AGREEMENT WITH NEWMONT TO JOINT VENTURE THE
BANDA AHENKRO PROPERTY ON THE SEFWI BELT AND TO WAIVE BACK-IN
RIGHTS ON BIRIM’S BUI PROPERTIES IN GHANA

Montreal, Canada, August 28, 2007, – Birim Goldfields Inc. (BGI: TSX) (“Birim” or “the Company”) is pleased to report that it has concluded a two-part agreement with Newmont Ghana Gold Limited and Newmont USA Limited, subsidiaries of Newmont Mining Corporation (NYSE & ASX: NEM; TSX: NMC) (“Newmont”) comprising:

· a joint venture agreement on the 488.3 km2 Banda Ahenkro Property on the Sefwi Belt; and,

· the waiving of Newmont’s back-in rights on Birim’s Bui Belt Properties.

Under the terms of the agreement, Newmont will waive their historical back-in right to projects on Birim’s thirteen properties within the boundary of the old Bui Reconnaissance License. In exchange for this waiver, Birim will grant Newmont an initial 49% equity interest in Birim’s Banda Ahenkro Property on the Sefwi Belt (see Note 1). Newmont will have the right to earn another 21% (up to 70%) by spending US$1,500,000 on exploration over four years, subject to minimum expenditures of US$300,000 in Year 1, US$350,000 in Year 2, US$400,000 in Year 3 and US$450,000 in Year 4. Newmont may then elect to earn an additional 10% interest (up to 80%) by completing a feasibility study on the property. The agreement remains subject to the normal statutory and regulatory approvals.

Birim has a dominant position on one of Ghana’s relatively under-explored gold belts, the Bui Belt. This comprises a portfolio of fifteen licenses, of which thirteen prospecting licenses were “cherry picked” after systematic regional exploration by Birim from the >7,000 km2 Bui reconnaissance license acquired from Santa Fe Mining in 1998. The terms agreed with Santa Fe at the time included a right (subsequently inherited by Newmont) allowing them a once-off back-in to any project with a completed bankable feasibility study located within the area defined by the boundary of the original reconnaissance license.

“The transaction makes a lot of strategic sense for Birim,” says Victor King, President and CEO for Birim. “Exploration progress on the Banda Ahenkro property will benefit from Newmont’s broad exploration expertise and their specific experience on the Sefwi Belt, which hosts their multi-million ounce, world-class Ahafo Gold Mine. Our active involvement with Newmont at Banda Ahenkro also will benefit our efforts on Birim’s other three properties on the Sefwi Belt, namely Nkenkasu, Bia Tano and Techimentia.” King added, “Newmont’s waiver to their inherited back-in right on our Bui properties will widen our options for funding exploration on this extensive land package. I believe that it is pragmatic for Birim to invite selected interested partners to assist in aggressively advancing exploration on some of our Bui licenses at this stage. This will maximize Birim’s current leverage on the belt and optimize the potential for exploration success on all of the properties.”

Birim Goldfields Inc. is an exploration company focused on gold exploration in West Africa and trades on the Toronto Stock Exchange under the symbol BGI.

For further information, please contact:
Denis Simoneau, Chairman Farah Alibhai, Investor Relations
Victor King, President & CEO Tel: (604) 731-7340
Tel: (514) 393-8611 Email: farah@birim.com
Toll Free: 1-800-721-8611 Web site: www.birim.com
Email: info@birim.com
Email: vic.king@birim.com

Notes : 1. The Government of Ghana retains a 10% free carried interest in all gold mining development projects in Ghana. Consequently, the interests specified in the agreement will apply to the 90% available interest, with the Government of Ghana holding the remaining 10%.
---------------------------------------------------

... dreaming of BQI at C$12+ by Oct 2008 ... remind me then whether I shall have been right ...

Searchgold (RSG.V) Extends in Gabon. 17.20m@4.43g/t

See:

http://www.kitco.com/pr/1144/article_07102007183224.pdf

this is at Bakoudou, Gabon -- separate from Searchgold's recent big hit at Mandiana, Guinea of 12.23g/t over 22m, plus 54.11g/t, 12.23, 9.63 etc.

Pelangio (PLG.TO) starts drilling at Obuasi, Ghana

http://www.kitco.com/pr/1267/article_07092007112511.pdf

"About Pelangio
Pelangio is a gold exploration company active in the top-ranked mining jurisdictions in the world, Canada and Ghana. The Company’s main focus is to advance its exploration programs on its premier land position in Ghana totaling 411 square kilometres, located on strike and adjacent to AngloGold Ashanti’s Obuasi gold mine."

Central African Gold (London) suspends at Kola, Mali

2007-07-09 16:50:07 story 1975193

Central African Gold suspends activities on Kola Permit in Mali
LONDON (Thomson Financial) - Central African Gold PLC said it has suspended activities relating to the Kola Permit in Mali until further notice, as it has become aware of certain claims made by a third party against Mande Mines SA, the current holder of the Kola Permit.

The gold miner said it is not in a position to approve the original heads of agreement, signed with Mande Mines last month, although it continues to work with Mande Mines to try and find an alternative solution.

TFN.newsdesk@thomson.com

Copyright AFX News Limited 2007. All rights reserved.

Pan African Resources gets Ghana claim from Birim

(readmitted for trading on London AIM as PAF starting July 31, 2007)

2 ITEMS:

1. Birim Concludes Agreement With Pan African Resources plc on the Akrokerri Property, Ghana

Thursday June 28, 10:39 am ET

MONTREAL, CANADA--(MARKET WIRE)--Jun 28, 2007 -- Birim Goldfields Inc. (Toronto:BGI.TO - News) ("Birim" or "the Company") is pleased to report that along with SEMS Exploration Services Limited ("SEMS"), a private Ghanaian registered company, have concluded a Heads of Agreement with AIM listed Pan African Resources plc ("Pan African"), to sell off 90% of their combined interest in the Akrokerri Property in southern Ghana. Birim currently retains a 49% interest in the Akrokerri property, while the remaining 51% is held by SEMS.

Under the terms of the agreement, Pan African will acquire the 90% interest in Akrokerri in exchange for the issue of 12,000,000 ordinary shares of 1p each ("Shares") at a value of 6p (for a total value of pounds sterling 720,000 of which Birim is being issued 5,880,000 Shares and SEMS 6,120,000 Shares). Both SEMS and Birim have agreed not to dispose of any Shares granted to them for a period of at least six months.

Birim and SEMS will retain a 10% free carried interest in Akrokerri (4.9% Birim and 5.1% SEMS), which Pan African has the right to acquire once the project reaches Bankable Feasibility Stage ("BFS"), at a value determined by the BFS. Upon the granting of a mining licence, Pan African will transfer an additional 10% interest in the mining project to the Ghanaian government as a free carry, in accordance with the Ghanaian Mining Code. The conclusion of this agreement is subject to the approval of the relevant regulatory and Ghanaian government authorities.

The acquisition of Akrokerri introduces Pan African to Ghana and will ensure that funding for additional exploration work will be forthcoming for the property. Pan African has just received South African Reserve Bank ("SARB") approval for a major acquisition in South Africa, the Barberton Mines Limited (see Pan African press release June 26, 2007). Subsequent to JSE and Shareholder approvals, Pan African announced that they expect to resume trading on AIM during July 2007.

Birim Goldfields will continue to focus its working capital and exploration efforts in Ghana on its 15 licenses on the Bui Belt and 4 licenses on the Bibiani-Sefwi Belt as well as on the Sangolo property in Burkina Faso.

Birim Goldfields Inc. is an exploration company focused on gold exploration in West Africa and trades on the Toronto Stock Exchange under the symbol BGI.


Contact:

Contacts:
Birim Goldfields Inc.
Victor King, President & CEO
Denis Simoneau, Chairman
514-393-8611 / Toll Free: 1-800-721-8611
vic.king@birim.com
info@birim.com

Birim Goldfields Inc.
Farah Alibhai
Investor Relations
604-731-7340
farah@birim.com
http://www.birim.com


Source: Birim Goldfields Inc.
=======================================

2. From a Pan African readmission prospectus at http://www.panafricanresources.com/invest/PAR_ReAdmissionDocumentJuly2007.pdf :

"In Ghana, the Company has identified several gold projects with advanced data sets in the southern part of the country. Discussions are currently underway to acquire several of these properties by way of equity stakes. The Company believes that Ghana could, if these targeted properties are acquired, add significantly not only to the resource base but also potentially to the production base. An interest of 90 per cent. has been acquired in the first of these targeted properties, the Akrokerri Property, for a cash consideration of £52,632 and the issue of 12,000,000 Ordinary Shares credited as fully paid up at 6p per share. A company incorporated in Ghana holding a 90 per cent. interest in the licence in the Akrokerri Property will only be transferred into the name of Pan African at such time as the transfer is approved by the Minerals Commission in Ghana. Such approval will take a minimumperiod of 12 weeks. Until such transfer is affected, Birim will hold the licence on behalf of Pan African. The Pan African CPR, in Annexure 1 to this Document, does not cover the Akrokerri Property, given that transfer has not yet occurred. Upon completion of the transfer, Pan African will inform Shareholders of the technical and legal due diligence undertaken by Pan African on the Akrokerri Property.

...

6.17 Akrokerri Property

On 20 June 2007, and as amended on 28 June 2007, Pan African, Mistral and Birim and SEMS entered into an agreement whereby Pan African has agreed to acquire a 90 per cent. interest in the Akrokerri Property from SEMS and Birim for a cash consideration of £52,632 and the issue of 12,000,000 Ordinary Shares credited as fully paid up at 6p per share (for a total value of £720,000, of which SEMS is being issued 6,120,000 Shares and Birim 5,880,000 Shares). The interest will be held in a local special purpose entity in Ghana. Under the terms of the acquisition agreement both SEMS and Birim have agreed not to dispose of any Ordinary Shares granted to them for a period of at least six months and thereafter Pan African has the right to place the Ordinary Shares should either party elect to dispose of their shareholding.

The remaining 10 per cent. interest in the Akrokerri Property will continue to be held by Birim as a free carried interest which Pan African has the right to acquire once the project reaches BFS at a value determined by the BFS. Upon the granting of a mining licence, a 10 per cent. interest in the project will be transferred to the Ghanaian Government as a free carry."

NEW: Azumah Resources (AZM Sydney) drilling in NW Ghana

From http://www.azumahresources.com.au/pdf/news/AZM%20-%20ASX%20Announcement%2023%20May%202007.pdf
Azumah Resources Limited
ACN 112 320 251
7 Rosslyn Street
West Leederville
AUSTRALIA 6007
P +618 9388 1166
F +618 9380 6600
W http://www.azumahresources.com.au
E stephen.ross@azumahresources.com.au

23 May 2007
ASX Announcement

DRILLING OF NEW GOLD ZONES AND KUNCHE RESOURCE EXTENSIONS COMMENCES

Azumah Resources Limited (ASX Code: AZM) is pleased to announce that a 3,000 metre drilling program has commenced at its 100%-owned Wa-Lawra Gold Project in north-west Ghana, West Africa.

The multi-pronged program will test a gold zone adjacent to the 500,000 ounce Kunche gold deposit and follow-up and extend three recently confirmed zones of gold mineralisation at Yagha North, Yagha South and Doggo to the north of Kunche. Drilling will also test a coincident geochemical and geophysical anomaly at Nanga immediately south west of Kunche.

Drilling at Yagha North will be conducted along a recently identified 400 metre north-trending gold zone, which remains completely open to the north, south and at depth. The southernmost intercept within this zone returned 4m @ 25.5g/t Au from 28m (YNAC006).
Drilling at Yagha South will investigate interpreted strike extensions to a newly identified 400m north-trending gold zone intersected by two previous holes.
At Doggo North, drilling will follow up the recent intersections of 16m @ 1.37g/t Au from 68m (DNAC013) and 8m @ 2.45g/t Au from 60m (DNAC014).

An extensive regional auger sampling program that commenced in January this year is continuing throughout the project area with the first results due shortly.
Azumah recently completed a $4.4 million placement to institutions and sophisticated investors. Subject to shareholder approval in a general meeting to be held on 1st June 2007, the company will have on issue 81 million shares and in excess of $5 million working capital.

Please contact:
Stephen Ross
Managing Director
Azumah Resources Limited
Telephone - +618 9388 1166 or +61 (0) 401 694 311
www.azumahresources.com.au
Azumah Resources Limited is an Australian-based company focused on exploring and developing its 100% owned Wa-Lawra Project in northwest Ghana in West Africa. The Wa-Lawra Project covers a total area of 2,857km2 comprising over 100km of strike of Birimian greenstone belt in a setting prospective for gold mineralisation in West Africa. The Wa-Lawra Project contains a JORC compliant resource of over 500,000 ounces at Kunche. The Company’s Board comprises Non-Executive Chairman Stephen Stone, Managing Director Stephen Ross and Non-Executive Director Michael Ivey.

NEW: Siguiri Basin Mining (SBMI) troubled sub-sub-penny Pinksheeter

(NOTE: The first of these press releases, which does not trouble to identify the country of the "Major Gold Discovery", might be related to those said have caused the falling-out, described below, between Siguiri Basin and Consolidated Mining and Minerals.
http://bigcharts.marketwatch.com/news/articles.asp?guid={85EB0E7A-34EC-4122-8130-02ED74736E67}&n...
http://bigcharts.marketwatch.com/news/articles.asp?guid={71470862-526A-42E0-BED4-BF294B88C683}&n...
FL )
===============================================================================

Siguiri Basin Mining, Inc. (PINKSHEETS: SBMI) Announces Status of Joint Venture
FRIDAY, JULY 06, 2007 2:19 PM
- Market Wire
Symbol SBMI
Price $USD: 0.0002

PEMBROKE PINES, FL, Jul 06, 2007 (MARKET WIRE via COMTEX) -- Siguiri Basin Mining, Inc. (PINKSHEETS: SBMI) President, Launa Carbonell, regretfully announces the termination of SBMI's agreement with Consolidated Mining and Minerals (CMM). Through considerable due diligence over the past week, SBMI has confirmed numerous unauthorized releases both inside information and incorrect information of principals or agents of CMM. Additionally, information has come into the hands of SBMI that indicates not all of the funds provided by SBMI to CMM under their agreement were appropriately applied to the projects in West Africa. This allegation is being thoroughly investigated for the benefit of the Company and its shareholders. Finally, SBMI has been required to disassociate itself with CMM after CMM's involvement in questionable press releases with Pinksheets company, Hidalgo Mining. These releases caused very questionable activity with the Hidalgo stock and CMM used the name of SBMI without authorization or prior knowledge of SBMI. After further investigation, SBMI will release all additional gathered information to the public on these subjects.

Within the coming week, SBMI will announce its future plans to continue its efforts to achieve producer status in the industry.

Siguiri Basin Mining Inc. (PINKSHEETS: SBMI) is a mineral exploration and development company focused on achieving producer status. The Company's is currently in a joint venture with Consolidated Mining & Minerals Inc. and targets are precious metal properties in stable countries within opportunity rich West Africa, Haiti, North, Central and South America with near term production capabilities. www.sbmining.com

The Private Securities Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release (as well as information included in written statements to be made) contains statements that are forward-looking. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ materially from those expressed in any forward-looking statement.


For further information contact
Rich Kaiser
YES International
1-800-631-8127
001-757-306-6090 (outside North America)
Email: yes@yesinternational.com

SOURCE: Siguiri Basin Mining, Inc.
mailto:yes@yesinternational.com

West African gold proves fruitful for Etruscan (EET.TO)
from MineWeb http://www.mineweb.net/mineweb/view/mineweb/en/page66?oid=23083&sn=Detail

Etruscan's 12-year endeavours in West Africa are finally paying off after the company reported that it is in the final stages of completing a project in Burkina Faso, which will see it shifting from a reliance on the money market to internal cash flow.
Author: Rodrick Mukumbira
Posted: Friday , 06 Jul 2007

WINDHOEK -

July has started on a good note for gold focused Canadian junior mining company Etruscan Resources Inc and the company's 12-year endeavours in West Africa, where its ownership of claims covering over 10,000 square kilometres, are finally paying off.

On Wednesday this week, its shares on the TSX gained more than 10 percent on a better-than-average trading volume as the market responded to last week's announcement of significant gold mineralization having been intercepted on its Kobokotosou permit in Mali West, with widespread, anomalous gold being encountered in sedimentary and intrusive rocks, in seven drill holes in the area.

Etruscan has gold exploration programmes underway in five West African countries, and a diamond exploration project in South Africa.

Etruscan's US$61 million Youga Gold project in Burkina Faso, is now almost complete and the company is on track for the end of July commissioning with the first production expected in October.

"The commencement of operations at the Youga Gold Mine is an important milestone for the growth of Etruscan," company president and CEO Gerald McConnell said in a statement Thursday.

McConnell said after debt servicing, the annual free cash flow from the Youga operation would be in the range of US$15 million to US$25 million per annum assuming a gold price of US$629 per ounce.

"This will sustain the future exploration and development activities of the company," he said.

The project, which is located 180 kilometres southwest of the capital Ouagadougou, will be commissioned in phases starting with the testing of the back-up power plant, considering the sporadic power supplies in west Africa, followed by the raw water pipeline, the CIL circuit, the crushing and screening circuit, the grinding and cyclone circuit and finally, the elution and gold room areas.

Etruscan expects all commissioning to be completed by end of September.

The Youga Gold project will initially be comprised of open pit mining of five pits with the ore being processed though a conventional CIL/gravity plant having a design capacity of one million tonnes per annum. Mineable reserves are currently 6.6 million tonnes with an average grade of 2.7 grams per tonne containing 580,000 ounces of gold.

In a recent interview with Canada's Market Matters Radio, McConnell was confident of the Youga Gold project, which he said would see Etruscan moving shifting from the reliance on money markets to fund exploration programmes.

"I have been in this business for 20 years and it has always been my desire to get to that position where we rely on internal cash flow as opposed to the market place," he told the radio station, adding that the company's 12-year presence was finally paying off.

He told the radio station that Youga would produce an initial 90,000 ounces of gold per year, which was enough to fund the shift and Etruscan's exploration programmes.

He was also confident of the company's presence in West Africa, which he described as being well endorsed in mineral resources, with 20 mines having been developed in 25 years, some mines having been found "while walking on top of them".

"I am convinced we will continue to find significant mineralization," said McConnell.

Red Back (RBI.T) Open Pit Reserves up 33% at Chirano, Ghana

See:

http://www.kitco.com/pr/1267/article_07042007112500.pdf

Cluff Gold (CLF in London) almost triples resource estimate at Baomahun, Sierra Leone


Cluff Gold hikes resource estimate at Baomahun

Wed 04 Jul 2007
CLF - Cluff Gold

Cluff Gold 67.50p +5.47%

LONDON (SHARECAST) - Cluff Gold advanced today after it said the JORC compliant resource estimate at the Baomahun gold project in Sierra Leone has increased to 1.16m ounces.

The latest report, which follows the recent completion of a 98 hole core drilling programme, shows indicated resources increased by 185%.

The firm said it has received assay results from 51 holes and has used this information to estimate the new resource grading 3.20g/t gold.

Drilling has now stopped due to the start of the annual wet season, although results from the remaining 47 holes are expected during July and August.

“There is considerable scope downdip of and laterally from the current resource area and we believe that there is potential to further increase the resource in the future with additional exploration and drilling,” said Cluff’s technical director Douglas Chikohora

“The planned completion in September of the scoping study marks a significant milestone in the development of the Baomahun project.”

Haber (HABE) price&volume going parabolic, from US$0.10 to $0.27 this week. Drat, now I wish I'd had more ... as usual ....

No news yet that'd explain it.

Energy Crisis Devastates [Ghana] Mining Sector

THE PRESIDENT of the Ghana Chamber of Mines, Mr. Jurgen Eijgendaal has bemoaned the effect of the nation's energy crisis on the mining industry, describing it as very devastating.

According to him, mining is an energy intensive economic activity and as such obtaining full energy requirements at competitive rates was vital for the containment of the sector's overall production costs.

He said mining companies are compelled to run standby generators for prolonged periods to cover the shortfall from the national grid, saying, "With the high price of diesel, some mining companies spent an average of about $2 million per month to generate additional power."

He stated that those who did not have adequate self-generating capacity had to resort to batch processing to meet the 25% cut in power consumption as required by government.

Mr. Eijgendaal made this known at the Chamber's annual general meeting in Accra on Friday where he reiterated, "the implications were quite dire for both companies and government."

He lamented that, "this unplanned and increased cost adversely affected the profitability of the mining companies and reduced the corporate tax they expected to pay to government."

According to him, though Ghana's rank on the log of gold producing countries by volume improved from 11th in 2005 to 10th in 2006 and also retained her second position in Africa after South Africa, Africa's highest gold producer, "the output performance of the industry was generally mixed."

Gold output of 2,244,680 ounces went up 10.62% over that of the previous year and was attributed to the fresh output from the Newmont Ahafo Mine and a full year's production from Chirano Mine that commenced production in the third quarter of 2006 and fourth quarter of 2005 respectively.

"On the other hand diamond purchases from the small scale mines contracted by 8.67% from 1,062930 in 2005 to 970.751 carats in 2006", Mr. Eijgendaal noted, and added that manganese exports in 2006 was marginally down 2.71% to 1,658,701 tonnes from the 1,712,508 tonnes that was recorded in 2005.

He continued that an increase in bauxite export in the last few year's continued in 2006 with an outturn of 885,770 tonnes representing a 21% rise on the 2005 output of 726,608.

The Chamber's President indicated that in spite of the mixed output performance of the mining industry, total mineral revenue went up from $995,679,975 in 2005 to $1,419,974,200 in 2006 representing an increase of 42.6%, adding, "with the exception of diamonds all other minerals recorded higher revenues compared to 2005."

Further, he pointed out that the ambivalent production in the year under review was compounded by and partly attributable to the power crisis that hit the mining industry and the country at large some ten months ago.

He said while the expected amount of mineral royalties that mining companies projected to pay may not be seriously affected by the power situation; the inability of some mines to produce on a continuous basis reduced their output compared to planned production.

In this regard, he mentioned that actual mineral royalties mining companies paid to government fell short of planned payments.

The mining industry, which spends at least $8.6 million a month to produce electric power to make up for the power shortage has in the short term underwrote the cost of transporting the Volta River Authority's (VRA) rotor from the United Kingdom where it had been sent for repairs to the tune of $504,300.

In the medium term, a consortium of four mining companies namely; Gold Fields Ghana Limited, AngloGold Ashanti, Newmont Ghana Gold Limited and Golden Star Resources has acquired an 80-megawatt power generating plant to meet the 25% shortfall in their power requirements.

This plant would constitute a part of the country's generating capacity since the consortium would pass it on to the VRA after a year's operation at no cost and the excess power from the plant would be added to the national grid.

Looking to the future, Mr. Eijgendaal said "all major companies expect to increase their output in 2007" but stressed "on the other hand production costs are expected to rise mainly on account of the relatively high cost the mining companies incur in generating power."

Source: Chronicle (Accra, Ghana)

Goldcrest (GCL.V) must've hit some jackpot; its price just tripled. No clearly-warranting news...

Weird volume pattern in Glencar mining (GEX in London, GCM in Dublin).

Looking at BigCharts with symbol "uk:gcx" I get this chart at

http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=uk%3Agex&sid=0&o_symb=uk%3Ag....

The volume pattern is peculiar, with a big two or three-day volume burst regularly ever 40 days or so. Between times, volume stays low to moderate. This has been going on for some time. It seems to have no noticeable outstanding effect on the stock price (which is now mostly up though it pulled back in the last few days). I can't figure it out. Maybe it has something to do with periodic arbitrage with the Irish Stock Exchange where Glencar is also traded...?

(Disclosure: I have some.)

Turbulence! Delta down 51%, AMI up 40% -today on volume. Searchgold up 16% today while Semafo's back in the dumps at C$1.73. (The value of royal favor?) Iamgold diminishes. Australian-traded explorers Gryphon, Mincor and Perseus have doubled lately.

Central African Gold (London AIM) reports positive results from Mali prospects

from [find it somehow]


Brief quote from article:
By: Nelendhre Moodley
Published: 17 May 07 - 17:19
Aim-listed gold mining and exploration company Central African Gold (CAG) on Thursday announced positive results from its first phase of systematic gold exploration on its 22 properties covering 2 864 km2 in the prospective Birimian strata in west and south Mali and the Kenieba district, in west Mali.

Highlights included identification of 39 follow-up gold targets, of which 16 were being prioritised, a number of clustered and structurally controlled Au anomalies as well as highly encouraging 2-7 km long clustered gold-in-soil anomalies at the Yanfolila district.

“These are highly [...]"...

... [rest, beyond "fair use", omitted, and name of publisher, due to intimidating statement: "Any re-distribution of this information is strictly prohibited. Copyright © ..."] Some publishers fail to appreciate that most redistribution acts as advertising.

Ghana: Galamsayers Still Disturbing AngloGold Ashanti

Ghanaian Chronicle (Accra)

16 May 2007
Posted to the web 16 May 2007

Albert Nana Asante, Obuasi

ILLEGAL MINING activities within AngloGold Ashanti's legally acquired concessions here in Obuasi continue to be a major problem for the company.

And what makes their activity more problematic to the company aside the dangerous nature of their business is the fact that, these illegal mining operators have extended their business to the underground section of the mine, where they sometimes confront workers of the company.

Residents of the Obuasi municipality frequently hear of arrests of such illegal miners underground, especially at the Cote d'or section, which appears to be the most lucrative area for these galamseyers, yet they still embark on their business in the area.

And the latest person to be arrested in connection with galamsey business underground is Mr. Bob Chaa, 21, who was busted last Friday at about 8:45 pm by a combined team of the Police, the press and personnel of AGA who had gone to the Cote d'or level 7, (700 feet underground) in search of a dead body following a tip off.

He was later sent to the Obuasi Municipal Police station.

It would be recalled that two illegal miners were trapped underground at the same Cote d'or some months ago and many were those who anticipated that, these galamseyers would learn a lesson from what happened to their colleagues and shun their business at least, in the Cote d'or underground area.

Speaking to the press after the over two hour operation underground, Mr. Chaa who said he hails from Techiman, explained that he went with three others for the operation last Thursday but the rest managed to escape.

He said he could not escape because he was new in the galamsey business and added that "today (Friday) is my first day of coming underground", completely forgetting he had earlier told reporters that he went to the area a day before his arrest. The combined team retrieved 70 sacks of quartz underground on that day.

Mr. Bashir Ahmed, the acting General Manager-Mining of the Obuasi mine expressed shock about how Mr. Chaa had access to the area.

He continued "we have covered all known areas to the place but this one is a surprise to us so we will go and look at the areas again and make sure all unapproved access to the underground are covered".

The Public Relations Officer of the mine, Mr. John Sarpong Boateng also advised galamseyers to embrace the company's sustainable development programme that is aimed at providing them with alternative livelihood.

The Obuasi Municipal Police Commander, DSP F.S Adikah when reached on phone over the weekend, confirmed the presence of Mr. Chaa at the station and hinted that he was to be sent to court last Monday.

Though the said dead galamseyer was not found after the operation by the combined team, some people believe he could still be there.

The Chronicle is following the story and will update readers with any new development.

Robex (RBX.TO) finds 5.42 g/t gold for 3m, among others

[from http://www.kitco.com/pr/1738/article_05172007145835.pdf ]

Press Release – 10-07 May 17, 2007
Tel: (418) 877-6411
Fax: (418) 877-8033
www.robexgold.com
Email: rbxgold@qc.aira.com
ROBEX: FIRST DRILLING RESULTS FROM WILI-WILI
AN INTERSECTION YIELDS 5.42 g/t Au over 3 m

Montreal - Robex Resources Inc. (TSX-V: RBX) is pleased to announce the results of the first seven drill holes from its Wili-Wili property located in West Mali, West Africa.
The most significant results are presented in the following table. True width is not yet known.

Hole number
from (m)
to (m)
width (m)
grade (g/t Au)

WR-101
27
30
3
1.22
45
48
3
2.49
63
66
3
1.59
78
81
3
1.38
WR-102
12
15
3
1.21
57
60
3
5.35
60
63
3
1.14
69
72
3
4.60
72
75
3
2.17
90
93
3
5.42
WR-103
24
27
3
1.16
WR-104
87
93
6
0.65
93
96
3
2.23
WR-105
27
30
3
0.86
30
33
3
1.61
WR-106
69
72
3
2.02
WR-108
90
93
3
1.48

The seven holes were drilled on the Fandou Zone, where an IP resistivity geophysical survey identified 4 well-developed resistivity axis. These 4 axis superimpose upon the 2.8 km long by 600 m wide Au and As anomaly discovered in June 2006. One of the axis coincides with a trench that returned 2.29 g/t Au over 13 meters and where 5 pits had returned grades between 3 and 12 g/t Au over 9 meters.

A map of the drill holes location may be viewed at http://robexgold.com/?page=16584019.
The intervals were sent to the SGS Lab in Kayes, Mali. They were analyzed by fire assay in three-metre composite sections. The three-metre intervals presenting grades higher or equal to 1g/t Au will be re-analyzed in one-metre sections.

Robex’ strategy for this drilling program is to drill approximately twenty holes on 100-metre spaced lines on the Fandou Zone, then, to drill the Mamoudouya Zone while waiting for the analyses from Fandou. If deemed necessary, additional drilling will then be undertaken on the Fandou Zone. The first step has been completed, drilling is now in progress on the Mamoudouya Zone.

This Press Release and the within disclosure have been reviewed by Richard Savard, Geologist, President and CEO of Robex Resources Inc. and a Qualified Person in accordance with NI 43-101.

Robex Resources Inc TSX-V: RBX is a Canadian mining exploration and development company focusing on Mali, West Africa. Mali is currently the 4th most important gold producing country in Africa. Robex' permanent exploration office is located in Mali, and is operated by senior geologists with an extensive experience in West African mining exploration. The team works on projects the Company already owns and is always on the lookout for new projects with favourable geology and a high potential for the discovery of world-class gold deposits. This permanent presence in Mali has allowed Robex to become one of the most active exploration and development companies in West Africa. In 2005, Robex was the third most important mining company operating in Mali in terms of investment in exploration.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. FOR THE BOARD
Richard Savard, President and CEO
For more information call:
Richard Savard, president and CEO, Montreal (514) 620-0850, r.savard@robexgold.com
M-C Poitras, Director Communications, Quebec, (418) 870-1482, mc.poitras@robexgold.com
J. Stewart Robertson, VP Business Development, Trenton, (613) 392-2646, s.robertson@robexgold.com

Golden Star (GSC.TO, GSS Amex) Bogoso expansion

Golden Star Confirms Its Bogoso Sulfide (BIOX(R)) Expansion Project Expected in Commercial Production in the Second Quarter
Monday May 7, 11:17 am ET

DENVER--(BUSINESS WIRE)--Golden Star Resources Ltd. (AMEX: GSS - News; TSX: GSC - News) today confirmed that it continues to expect its Bogoso sulfide (BIOX®) expansion project to be commissioned in the second quarter of 2007.

The new 3.5 million tonne per annum sulfide processing plant, which utilizes the BIOX® bio-oxidation technology, is intended to supplement the existing 1.5 million tonne per annum oxide processing plant at Golden Star's Bogoso/Prestea gold mine in Ghana.

The new processing plant utilizes two modules of seven BIOX® reactors (stirred stainless steel tanks, each with a capacity of about 1,500 cubic meters). The first BIOX® module was commissioned in February 2007 and commissioning of the second module had been expected by the end of March. However, certain construction related issues and the replacement of a series of incorrectly specified valves have delayed the commissioning. The last tank on the second BIOX® module is currently being filled and it is expected that the second BIOX® module will be operational and start discharging bio-oxidized material to the counter current decantation (CCD) washing circuit in the next few days.

Once both BIOX® modules are operational, we expect to commence the process of ramping up the grinding circuit and test it at design capacity.

Our new reagent circuits have been commissioned and are now operational, leaving the regrind mill, cyanide sparging, elution circuit and new gold room as the only areas which are yet to be commissioned and tested, however work in these areas is substantially complete. In the interim, we continue to utilize the existing elution circuit and gold room. The regrinding circuit, which is not essential in the testing stage, along with the new elution circuit and gold room are expected to be commissioned later in May 2007.

We have also expanded the flotation circuit relative to what was conceived in the Bogoso sulfide expansion project feasibility study. This expanded flotation circuit, which is intended to give us the added flexibility to continue to use a flotation step in our current oxide processing plant, is substantially complete and expected to be commissioned later in May 2007.

Commercial production is expected in the second quarter of 2007 and the Bogoso sulfide processing plant is expected to be at or near design throughput rates in the third quarter of 2007 and at or near design recovery rates by year end.

Peter Bradford, President and CEO, said, "While we continue to make good progress, the mechanical commissioning delays and other start-up issues that we have had in the first four months of 2007, and managed successfully, are expected to limit our 2007 gold production from Bogoso/Prestea. However, until we have a certain date for commercial production, we believe it would not be appropriate to update guidance."

"I would like to take this opportunity to pay tribute to the significant contribution made to the project and Golden Star generally by Mark Collopy who passed away in April," continued Mr. Bradford. "Mark, who was our Vice President for Major Capital Projects, was instrumental in the motivation of the Bogoso sulfide expansion project and managed it until December 2006 when he transitioned to other activities for Golden Star. Mark was a valued senior employee of Golden Star. His sudden and unexpected death was a shock and he will be missed by all at Golden Star and by his close friends and family."

Daniel Owiredu, our Vice President Ghana, took over the project management of the Bogoso Sulfide Expansion Project in December 2006.

Company Profile

Golden Star is an un-hedged gold producer and holds a 90% equity interest in the Bogoso/Prestea and Wassa open-pit gold mines in Ghana. In addition, Golden Star has an 81% interest in the currently inactive Prestea Underground mine in Ghana, as well as gold exploration interests elsewhere in Ghana, in other parts of West Africa and in the Guiana Shield of South America. Golden Star has approximately 233 million shares outstanding.

Statements Regarding Forward-Looking Information: Some statements contained in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements are inherently uncertain and involve risks and uncertainties that could cause actual results to differ materially. Such statements include comments regarding the timing of the completion, commissioning, commencement of commercial production, and timing and rates of production, throughput and recovery, at the Bogoso sulfide expansion project and various components of the project including the regrind mill, elution circuit and new gold room, delays in construction and commissioning, 2007 gold production and cash operating cost from Bogoso/Prestea. Factors that may affect these forward looking statements include delays in receiving needed equipment and parts, design modifications during commissioning, start-up problems and delays, delays in achieving design throughput or design recovery, power shortages and interruptions, weather including excessive rainfall or drought, variations in ore grade or type, technical or operating problems and fluctuations in the price of gold. There can be no assurance that future developments affecting the Company will be those anticipated by management. Please refer to the discussion of risk factors in our Form 10-K for 2006.


Contact:

Golden Star Resources Ltd.
Bruce Higson-Smith, 800-553-8436
Vice President Corporate Development
or
Anne Hite, 800-553-8436
Investor Relations Manager

Source: Golden Star Resources Ltd.

Presumably, Managem has finished selling its Semafo (SMF.TO) shares. See http://www.managem-ona.com/upload/actualite/finalisation-cession-Semafo.pdf
On the other hand, there's nothing to stop its parent ONA, or its royal Moroccan owners, from re-buying Semafo shares now at much lower prices, having driven them down by the Managem sales.

Investika and Cambrian still in West Africa?

Investika now trades on the London AIM as IVK in addition to Sydney, but it's not clear whether it has any further interests in West Africa. It had been a partner in the Subranum gold exploration project in Ghana with Cambrian Mining (CBM in London) and Samtua, Ltd. The Investika and Cambrian webpages now make no mention of any West African gold projects, and an earlier Cambrian report said that the Samtua results were disappointing.

Should both Investika and Cambrian be removed from the board header?

Searchgold (RSG.V) hits 12.23g/t over 22m, plus 54.11g/t, 12.23, 9.63 etc.

Searchgold Resources Inc. Cuts Additional Mineralization And Defines High Grade Structure Over 400 M Strike Length On Mandiana, Guinea

01 May 2007, 01:19 PM ET -- Reuters -- Gold and Silver Industry

Searchgold Resources Inc. annunced the results of the drilling campaign on its 100% Mandiana Gold Property located in Guinea, West Africa. The 4,300 m drilling program consisted in 54 holes and all the results from the 40 holes drilled on the N'Diambaye prospect have been received. Significant highlights include : the N'Diambaye prospect hosts a north-south trending mineralized structure recognized over 400 m with significant high grade intersections : NDI-02 : 12.23 g/t Au over 22 m from 50 to 72 m towards northern end of the structure. NDI-39 : 9.63 g/t Au over 6 m from 33 to 39 m defining the southern end of the structure. -The intersection of hole NDI-02. The increase in gold content comes from the integration of fire assay results on pulp tailings. The other mineralized intercepts. Isolated high grade intercepts as well as haloes of lower grade mineralization have also been intercepted outside the north-south structure, such as : NDI-15 : 54.11 g/t Au over 1 m from 5 to 6 m. NDI-36 : 0.34 g/t Au over 10 m from 6 to 16 m.


Other, previous Searchgold stories

Searchgold Resources Inc. Completes A $1,500,000 Financing
24 Apr 2007, 01:02 PM ET
Searchgold Resources Inc. announce the closing of the previously announced non-brokered private placement for an amount of $1,500,000. The Corporation will issue 1,500 units, each unit including 3,333 common shares of the Corporation at a price of $0.30 per share and 1,667 common share purchase warrants of the Corporation. Each Warrant entitles its holder to purchase one common share of the Corporation at the purchase price of $0.45 per common share at any time during the 18-month period from the closing date. These new shares are subject to a 4-month minimum hold period.

Searchgold Resources Inc. Arranges Financing For $2,000,000
11 Apr 2007, 07:25 PM ET
Searchgold Resources Inc. announced that it is arranging a non-brokered private placement for up of $2,000,000. The placement is reserved for accredited investors only and the Company will issue a maximum of 2,000 units at a cost of $1,000 per unit. Each unit includes 3,333 common shares of the Company at a price of $0.30 per share and 1,667 common share purchase warrants of the Company. Each warrant entitles its holder to purchase one common share of the Company at the purchase price of $0.45 per common share at any time during the 18-month period from the closing date. Management plans to close this financing on April 20.

Searchgold Resources Inc. Starts Drilling On Belleterre Project In Quebec, Canada
08 Nov 2006, 02:16 PM ET
SearchGold Resources Inc. announced the start-up of its drilling campaign on its Belleterre Gold Project, in Northern Quebec, Canada. The 5,000 m diamond-drilling program has started on the Belleterre Gold Project and the first target to be drilled is the down dip extension of Vein # 1.

Searchgold Resources Inc. Update on High Grade Gold Zones From Belleterre Project in Quebec, Canada
13 Sep 2006, 01:01 PM ET
Searchgold Resources Inc. announced that the positive drill results from its Belleterre Gold Project, in Northern Quebec, Canada. A recent diamond drilling program targeting Vein # 3 on the Lake Chevrier property returned encouraging gold grades at depth with intersections of 18.21 g/t Au over 0.33 m and 16.81 g/t Au over 0.40 m. A total of 13 short holes totaling 1,129 m were drilled to test the continuity and grade of the vein over a strike length of 250 m and at a maximum vertical depth of 65 m. The structure was intersected in every hole. - Eight holes gave results above 1.00 g/t Au. The highest grading intersection was 18.21 g/t Au over 0.33 m in hole CHE-05-15. - The widest intersection was 1.88 g/t Au over 3.60 m in hole CHE-05-13. Vein # 3 and Vein # 1, located 250 m to the south-east of Vein # 3 on the Blondeau-Guillet property, are part of a high grade mineralization system associated with a granite-volcanic contact which is characterized by pyrite-chalcopyrite-galena-sphalerite-gold bearing quartz veins.

Robex (RBX.V) exercises its option on Mininko-Kamasso

TSXV : RBX

QUEBEC, May 2 /CNW Telbec/ - Robex Resources inc. (TSX-V: RBX) is pleased to announce that it has exercised its option to acquire the remaining 49% interest in the Mininko-Kamasso property located in South Mali, West Africa where a NI-43-101 resource calculation defined 735,000oz of gold (see April 26, 2007 - Press Release). Until now, Robex has had a 51% interest in the property after having filled its commitment to invest US$1,440,000 in exploration work and making payments totalling US$450,000. Robex had the option of acquiring the remaining 49% by making a final payment of US$480,000 which has just been done. Geo Service International retains a 2% NSR on which Robex has a first refusal right on any agreement GSI would consider regarding this NSR.

Robex Resources Inc TSX-V: RBX is a Canadian mining exploration and development company focusing on Mali, West Africa. Mali is currently the 4th most important gold producing country in Africa. Robex' permanent exploration office is located in Mali, and is operated by senior geologists with an extensive experience in West African mining exploration. The team works on projects the Company already owns and is always on the lookout for new projects with favourable geology and a high potential for the discovery of world-class gold deposits. This permanent presence in Mali has allowed Robex to become one of the most active exploration and development companies in West Africa. In 2005, Robex was the third most important mining company operating in Mali in terms of investment in exploration.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.



FOR THE BOARD

Marcel Bédard, Chairman of the Board

For further information: Richard Savard, president and CEO, Montreal, (514) 620-0850, r.savard@robexgold.com ;
M-C Poitras, Director Communications, Quebec, (418) 870-1482, mc.poitras@robexgold.com ;
J. Stewart Robertson, VP Business Development, Trenton, (613) 392-2646, s.robertson@robexgold.com .

Glencar (GEX in London) new money; drill results in 2 weeks

Glencar Mining plc
Placing and Work Programme Update
26 April 2007

Highlights:
o Proposed placing of 22.6 million shares at GBP0.105 to raise GBP2.37 million (US$4.47 million)
o Macquarie Bank Limited has subscribed for 9.5 million of the Placing Shares and will hold 3.68% of the enlarged equity
o Latest drill results from Komana West to be released in two weeks
o Exploration drilling to be carried out on Solona Licence
o Drilling continuing on the Gold Fields joint venture at Sankarani

Placing

Glencar Mining plc ("Glencar" or the "Company"), the AIM and IEX listed gold exploration company with interests in Africa, is pleased to announce a proposed placing of 22,600,000 new ordinary shares of €0.031 each (the "Placing Shares") at a price of GBP0.105 (€0.155) per share to raise GBP2.37 million (US$4.75 million) before expenses. The total number of Ordinary Shares in issue immediately following the placing will be 258,386,967.

The funds will be used to continue the exploration and drilling programmes on the Company’s exciting gold targets in southern Mali and Ghana and for general corporate purposes. In particular, the funding will enable continued, intensive drilling at the Komana West deposit, where the results of drilling to date have been very positive.

The Placing Shares have been placed with institutional shareholders, in London by Cenkos Securities plc and in Dublin by Davy. Macquarie Bank Limited has subscribed for 9,500,000 of the Placing Shares and, as a consequence, will hold 3.68% of the enlarged equity in the Company.

Application will be made to the London Stock Exchange and to the Irish Stock Exchange for the Placing Shares to be admitted to trading on the AIM Market of the London Stock Exchange ("AIM") and on the Irish Enterprise Exchange of the Irish Stock Exchange ("IEX"). Dealing is expected to commence in these shares on 1 May 2007.

Work Programme Update

We are taking a short break from drilling at Komana West and we will be sending the drill rig to complete an initial drilling programme on one of the targets on the adjacent Solona exploration licence. This target, Badoga-Malikila, has been defined by field mapping, rock sampling and gradient array geophysics. Drilling is expected to recommence at Komana West in approximately 3/4 weeks time, following the completion of the Badoga-Malikila drill programme.

The Komana West deposit is 95% owned by Glencar and 10,350 metres of drilling there has already been completed. A further statement on the most recent drill assay results is expected to be made within the next two weeks. Drilling is also continuing on advanced targets on the Sankarani Project, a joint venture between Glencar and Gold Fields Limited, whereby Gold Fields Limited may earn up to a 65% interest in three of Glencar’s exploration licences (excluding the Komana licence) through exploration expenditures of up to US$12 million.

For further information, please contact:
Glencar Mining plc
Hugh McCullough, Managing Director
Tel: +353 1 661 9974
e-mail: info@glencarmining.ie
ooooooooooooooooooooooooooooooooooooooooooooooooooooooooo

Golden Goose Resources (GGR.V).

Oops --Nevsun-- it's NSU.TO not NSU.V; Sanu's smaller

Nevsun is traded on the main Toronto Exchange (not on the "Venture Exchange"). Also, Nevsun's market capitalization is C$244,444,983 while Sanu (SNU.V)'s is only C$32,505,000. That is, Nevsun is about eight times as big as Sanu, at present stock prices.

Red Back (RBI.TO) getting Tasaist in Mauritania

Red Back Signs Option Agreement to Acquire Tasiast Gold Mine in Mauritania

Last Update: 10:21 AM ET Apr 4, 2007

VANCOUVER, BRITISH COLUMBIA, Apr 4, 2007 (CCNMatthews via COMTEX) -- Red Back Mining Inc. (the "Company" or "Red Back") (CA:RBI: news, chart, profile) is pleased to announce that it has signed an Option agreement with Lundin Mining Corporation (CA:LUN: news, chart, profile) (SSE:LUMI) ("Lundin Mining") to acquire a 100% interest in the Tasiast gold project in Mauritania, West Africa and significant exploration acreage in Mauritania, in consideration for US $225 million in cash and assumption of US $42.5 million in debt related to the Tasiast project.

The Option is subject to Lundin Mining acquiring 50.1% of the issued and outstanding shares of Rio Narcea Gold Mines, Ltd. (CA:RNG: news, chart, profile) ("Rio Narcea") on a non-diluted basis and Red Back obtaining adequate financing to exercise the Option. Lundin Mining and Rio Narcea have announced that Lundin Mining had agreed to make a take-over bid to acquire all of the issued and outstanding shares of Rio Narcea.

Rio Narcea holds, among other assets, a 100% interest in the Tasiast gold project which includes the Tasiast gold deposit under development as an open pit mine and exploration licenses encompassing 13,178 square kilometres.
Construction of the Tasiast gold mine is at an advanced stage with production start-up scheduled for mid 2007 at an initial rate of 108,000 ounces per year at an average grade of 3.25 g/t.
Resources and Reserves at Tasiast are set out below:

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Tasiast Gold Project - Mineral Reserves and Resources
(0.8 g/t gold cutoff)
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Category Tonnes Grade Contained Gold
(000) (g/t) (ounces)
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Mineral Reserves
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Proven 761 3.24 80,000
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Probable 11,223 2.66 960,000
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Total Proven and Probable 11,984 2.70 1,040,000
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Mineral Resources
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Measured 860 3.17 88,000
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Indicated 13,693 2.59 1,142,000
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Total Measured and
Indicated Resources 14,553 2.63 1,230,000
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Inferred Resources 18,633 1.94 1,165,000
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Mineral resources include mineral reserves




These estimates were prepared under the supervision of David A. Orava, M. Eng., P. Eng., Associate Mining Engineer and Daniel C. Leroux, B. Sc., P. Geo., both of A.C.A. Howe International, who are Qualified Persons independent of Rio Narcea and the Company for the purposes of National Instrument 43-101.

The Tasiast deposit is within an extensive gold system that is largely under-explored. The deposit is open along strike and at depth. Tasiast will be the first mine in the highly prospective Archaen age Aoueouat greenstone belt, a 70 kilometre long by 15 kilometre wide north-south trending Archaen greenstone belt geologically similar to other Archaen greenstone belts in the world, which are known to host major gold deposits. The Tasiast property covers a 60 kilometre strike length of the Aoueouat greenstone belt, virtually encompassing an entire mining district in the country.
Rick Clark, President and CEO of Red Back, commented, "The Option to acquire Tasiast is the first step in our strategy to grow Red Back into an intermediate African gold producer. We are excited about expanding our operations into Mauritania and maximizing the potential of the Tasiast project. Our experience in developing and operating the Chirano Project in Ghana demonstrates our ability to operate and succeed in West Africa. The acquisition of Tasiast and the high grade development potential at Chirano support a compelling growth story for the Company, which we intend to develop fully."

Red Back currently operates the Chirano Gold Project in Ghana which has expected production in 2007 of 137,000 ounces at a cash operating cost of approximately US $320 per ounce. A scoping study on an underground development of the high grade Akwaaba deposit is expected to be completed in May, 2007.

The technical contents of this release have been reviewed by Hugh Stuart, BSc., MSc, a Qualified Person pursuant to NI-43101. Mr. Stuart is the VP - Exploration of the Company and a Member of the Australasian Institute of Mining and Metallurgy. This News Release contains forward looking statements which are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward looking statements. The Company does not intend to update this information and disclaims any legal liability to the contrary.

On behalf of the Board of Directors
Richard P. Clark, President
SOURCE: Red Back Mining Inc.
Red Back Mining Inc. Sophia Shane (604) 689-7842 Website: www.redbackmining.com Copyright (C) 2007 CCNMatthews. All rights reserved. ********************************************************************** As of Saturday, 03-31-2007 23:59, the latest Comtex SmarTrend® Alert, an automated pattern recognition system, indicated an UPTREND on 11-30-2006 for RNO @ $2.59. For more information on SmarTrend, contact your market data provider or go to www.mysmartrend.com SmarTrend is a registered trademark of Comtex News Network, Inc. Copyright © 2004-2007 Comtex News Network, Inc. All rights reserved. End of Story

Contrast Nevsun (NSU.V) with Sanu (SNU.V) ...

Both have gold properties in Mali.
Both have gold properties in Eritrea that they are concentrating on. (Under the same shakedown/ripoff regime.)

Yet, while Nevsun has inexorably declined, Sanu has recently more than tripled in price.

Whence this difference?