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Zinc Play Update: Time to Start Moving Down the Food Chain?
By Michael J. DesLauriers
12 Jul 2006 at 06:11 PM EDT
TORONTO (ResourceInvestor.com) -- Back in late January, your correspondent suggested readers take a look at some attractively priced zinc producers; six months later, an update seems appropriate as price action across the board has been considerable and it may be time to revise one’s strategy somewhat.
The three names in question were Breakwater Resources [TSX:BWR], HudBay Minerals [TSX:HBM], and Lundin Mining [TSX:LUN]. At that time shares in BWR were going for C$.74, HBM was C$7.06 and LUN C$23.
In the intervening period Breakwater has seen highs of C$1.69, closing today at C$1.41, HudBay got upto C$16.99 with a close of C$15.53, and Lundin Mining reached C$43.92, closing today at C$31.97.
The price of zinc has also done extremely well in that time period, rising from just under US$1/lb to a close today of US$1.57/lb just off its highs above US$1.70/lb. Furthermore, LME inventories have shed an additional 45% since January and now stand at just over 205,000 pounds, with the number dropping steadily every day. It will be interesting to keep an eye on this number, to see where it reaches equilibrium, much as copper did months ago.
Despite a growing number of analysts calling for cooling global growth, zinc’s fundamentals remain extremely compelling and should be able to sustain prices conducive to positive shareholder returns. The supply side of the market would appear to be coming around somewhat, but not nearly at a pace strong enough to have any kind of downside impact on prices.
When RI brought the aforementioned names to readers at the beginning of the year, we felt quite strongly that these companies offered further upside, and that the underlying fundamentals of the metal were very strong, noting that, “the analyst community has consistently misjudged the direction of base metal prices in this bull market, and even as the trend continues to highlight their flawed analysis, many are sticking to their guns. They have been equally useless in their price projections for the oils and the precious metals.” It was, and remains our conviction that, “given China’s highly encouraging long-term growth prospects, shares of the few publicly listed zinc producers should continue to outperform with solid cash flow and earnings paving the way for higher multiples across the board.”
Zinc’s supporters have been rapidly growing in numbers recently, and your correspondent is always one to seek out the easy money. In this case, quite a bit of easy money has been made on zinc producers, although we believe that fairly meaningful upside remains. That having been said, we feel quite confident that the real multi-bagger returns will now come from quality developers and near-term producers in the space, which the market has, in many cases, completely overlooked. This concept has seen wider application in the precious metals stories and in many cases copper and nickel stories as well.
Because the zinc play is still relatively new to people and because there are so few listed companies in the zinc game, numerous opportunities still exist to generate multi-bagger returns. In the coming weeks, RI will profile a few of these for investors.
<
Stock Of The Week
A Silver Pure Play
John Dobosz, 07.13.06, 9:30 AM ET
Curtis Hesler, editor of Professional Timing Service, recommends buying shares of Canadian silver company Silver Wheaton Corp. at $9 or cheaper.
The Vancouver, British Columbia company bills itself as the only publicly-traded firm that derives 100% of its revenue from silver production. It purchases production from mines in Mexico, Sweden and Peru, but does not do the mining itself. Hesler likes that this enables the company to operate with very little overhead.
Silver Wheaton (nyse: SLW - news - people ) expects to sell approximately 15 million ounces of silver in 2006 at cash costs of $3.90 per ounce. Silver currently trades around $11.50 per ounce, and traded as high as $14.94 on May 12. Even after the 23% correction over the past two months, silver is still up 30% year-to-date.
Shares of Silver Wheaton have been about twice as volatile as the price of silver, and so far in 2006, they have advanced 65%, and now trade at about $9.50. Shares were up as much as 101.4% on April 19 when they hit a high of $11.75.
Hesler believes that SLW will come back down below $9 before making a new run at its old high, so he advises using a "good-till-canceled" order with a limit of $9 or slightly lower.
“Even if it goes lower than $9, I’d try to steal a little more closer to $8,” says Hesler, who believes that silver's longer term prospects are still positive as long as the U.S. dollar remains in the downtrend it has been in since early 2002. Also bullish for silver is the physical need for the metal that has been brought on by the introduction in late April of the iShares Silver Trust (amex: SLV - news - people ) that tracks the price of silver and must be backed up by physical silver.
Hesler points out that silver has outperformed gold during the current bull market, up 366% from its low in November 2001 to its May 2006 high. Gold, on the other hand, moved 184% from April 2001 to its $725 per ounce high in May 2006. Silver also outperformed gold in the last metals bull market in the late 1970s that lasted until 1980.
http://www.forbes.com/2006/07/13/silver-wheaton-commodities-in_jd_0712gurusow_inl.html?partner=yahoo...
Goldmarca acquires property 300 metres west of Aurelian discovery
Wednesday July 12, 3:52 pm ET
TSX-V: GML
PANAMA, July 12 /CNW/ - Goldmarca Limited (TSX-V:GML - News) is pleased to announce the signing of two option agreements to acquire 100% of concessions covering 7805 hectares in the Condor Gold Belt Ecuador. See Figure 1 at http://files.newswire.ca/499/Goldmarca_Map.doc.
The first property is the Eccolmetals Rio Machinaza (Eccolmetals) property which is 300 metres west of Aurelian's high-grade gold properties Fruta del Norte ("FDN") in the Condor Gold Belt Ecuador. See Figure 2 at http://files.newswire.ca/499/Goldmarca_Map.doc. The Eccolmetals property covers 765 hectares and is located, laterally to the west and adjoining the FDN target and some 400 m from the high-grade drill hole, CP-06-57, the results of which were announced by Aurelian June 6th of 2006. See figure 3 at http://files.newswire.ca/499/Goldmarca_Map.doc. The initial work program proposed for the Eccolmetals property includes confirmatory mapping,geophysics, both induced polarization and ground magnetic surveys; and drilling of targets.The Eccolmetals property option price is US$50,000 on signing and the balance of US$150,000 payable 90 days thereafter.
The second option agreement give rights to acquire claims covering 7,140 hectares for a total option exercise price of US$800,000 over 4 years, with US$200,000 payable in the first 12 months.
Goldmarca now has a good land position over the Condor Gold Belt, on the Ecuadorian side Goldmarca has 16,000 hectares and on the Peruvian side some 6,000 hectares at the Afrodita property. On the Ecuadorian side the drill program is ongoing with additional results expected by early August. In addition to the drill program an induced polarization and ground magnetic survey over the high grade breccia camp and associated disseminated types is scheduled to commence mid July.
Robin Slaughter Mining Engineer and M.Aus.I.M.M. is acting as Qualified Person in compliance with National Instrument 43-101 with respect to this release. He has reviewed the contents for accuracy.
On behalf of the Board of Directors,
Robin Slaughter,
President and Chief Executive Officer
ABOUT GOLDMARCA: Goldmarca Limited (TSX-V: GML - News) is an international mining company that is engaged in adding value to gold and mineral projects with a primary focus on assets in South America and Australia. By applying unique technology and expertise, Goldmarca is focused on delivering a low-cost option to develop resource projects that can provide a one-year payback of all capital costs. Goldmarca is also listed on the Frankfurt and Berlin exchanges under the symbol "GDQ." For more information, please visit www.goldmarca.com.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
Safe Harbor Statement:
Statements contained in this release that are not historical facts are forward-looking statements which involve risk and uncertainties, which could cause actual results to differ materially from those, expressed in forward-looking statements including the following: changes in economic or environmental conditions and the Company's ability to execute its business model and strategic plans. The Company relies on litigation protection for forward-looking statements.
For further information
Robin Slaughter, President & CEO, 507-66714370 or Nick Demare, Director & CFO, 1-604-685-9316 or send email to info@goldmarca.com
--------------------------------------------------------------------------------
Source: Goldmarca Limited
Goldmarca acquires property 300 metres west of Aurelian discovery
Wednesday July 12, 3:52 pm ET
TSX-V: GML
PANAMA, July 12 /CNW/ - Goldmarca Limited (TSX-V:GML - News) is pleased to announce the signing of two option agreements to acquire 100% of concessions covering 7805 hectares in the Condor Gold Belt Ecuador. See Figure 1 at http://files.newswire.ca/499/Goldmarca_Map.doc.
The first property is the Eccolmetals Rio Machinaza (Eccolmetals) property which is 300 metres west of Aurelian's high-grade gold properties Fruta del Norte ("FDN") in the Condor Gold Belt Ecuador. See Figure 2 at http://files.newswire.ca/499/Goldmarca_Map.doc. The Eccolmetals property covers 765 hectares and is located, laterally to the west and adjoining the FDN target and some 400 m from the high-grade drill hole, CP-06-57, the results of which were announced by Aurelian June 6th of 2006. See figure 3 at http://files.newswire.ca/499/Goldmarca_Map.doc. The initial work program proposed for the Eccolmetals property includes confirmatory mapping,geophysics, both induced polarization and ground magnetic surveys; and drilling of targets.The Eccolmetals property option price is US$50,000 on signing and the balance of US$150,000 payable 90 days thereafter.
The second option agreement give rights to acquire claims covering 7,140 hectares for a total option exercise price of US$800,000 over 4 years, with US$200,000 payable in the first 12 months.
Goldmarca now has a good land position over the Condor Gold Belt, on the Ecuadorian side Goldmarca has 16,000 hectares and on the Peruvian side some 6,000 hectares at the Afrodita property. On the Ecuadorian side the drill program is ongoing with additional results expected by early August. In addition to the drill program an induced polarization and ground magnetic survey over the high grade breccia camp and associated disseminated types is scheduled to commence mid July.
Robin Slaughter Mining Engineer and M.Aus.I.M.M. is acting as Qualified Person in compliance with National Instrument 43-101 with respect to this release. He has reviewed the contents for accuracy.
On behalf of the Board of Directors,
Robin Slaughter,
President and Chief Executive Officer
ABOUT GOLDMARCA: Goldmarca Limited (TSX-V: GML - News) is an international mining company that is engaged in adding value to gold and mineral projects with a primary focus on assets in South America and Australia. By applying unique technology and expertise, Goldmarca is focused on delivering a low-cost option to develop resource projects that can provide a one-year payback of all capital costs. Goldmarca is also listed on the Frankfurt and Berlin exchanges under the symbol "GDQ." For more information, please visit www.goldmarca.com.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release.
Safe Harbor Statement:
Statements contained in this release that are not historical facts are forward-looking statements which involve risk and uncertainties, which could cause actual results to differ materially from those, expressed in forward-looking statements including the following: changes in economic or environmental conditions and the Company's ability to execute its business model and strategic plans. The Company relies on litigation protection for forward-looking statements.
For further information
Robin Slaughter, President & CEO, 507-66714370 or Nick Demare, Director & CFO, 1-604-685-9316 or send email to info@goldmarca.com
--------------------------------------------------------------------------------
Source: Goldmarca Limited
Goldmarca acquires property 300 metres west of Aurelian discovery
Wednesday July 12, 3:52 pm ET
TSX-V: GML
PANAMA, July 12 /CNW/ - Goldmarca Limited (TSX-V:GML - News) is pleased to announce the signing of two option agreements to acquire 100% of concessions covering 7805 hectares in the Condor Gold Belt Ecuador. See Figure 1 at http://files.newswire.ca/499/Goldmarca_Map.doc.
The first property is the Eccolmetals Rio Machinaza (Eccolmetals) property which is 300 metres west of Aurelian's high-grade gold properties Fruta del Norte ("FDN") in the Condor Gold Belt Ecuador. See Figure 2 at http://files.newswire.ca/499/Goldmarca_Map.doc. The Eccolmetals property covers 765 hectares and is located, laterally to the west and adjoining the FDN target and some 400 m from the high-grade drill hole, CP-06-57, the results of which were announced by Aurelian June 6th of 2006. See figure 3 at http://files.newswire.ca/499/Goldmarca_Map.doc. The initial work program proposed for the Eccolmetals property includes confirmatory mapping,geophysics, both induced polarization and ground magnetic surveys; and drilling of targets.The Eccolmetals property option price is US$50,000 on signing and the balance of US$150,000 payable 90 days thereafter.
The second option agreement give rights to acquire claims covering 7,140 hectares for a total option exercise price of US$800,000 over 4 years, with US$200,000 payable in the first 12 months.
Goldmarca now has a good land position over the Condor Gold Belt, on the Ecuadorian side Goldmarca has 16,000 hectares and on the Peruvian side some 6,000 hectares at the Afrodita property. On the Ecuadorian side the drill program is ongoing with additional results expected by early August. In addition to the drill program an induced polarization and ground magnetic survey over the high grade breccia camp and associated disseminated types is scheduled to commence mid July.
Robin Slaughter Mining Engineer and M.Aus.I.M.M. is acting as Qualified Person in compliance with National Instrument 43-101 with respect to this release. He has reviewed the contents for accuracy.
On behalf of the Board of Directors,
Robin Slaughter,
President and Chief Executive Officer
ABOUT GOLDMARCA: Goldmarca Limited (TSX-V: GML - News) is an international mining company that is engaged in adding value to gold and mineral projects with a primary focus on assets in South America and Australia. By applying unique technology and expertise, Goldmarca is focused on delivering a low-cost option to develop resource projects that can provide a one-year payback of all capital costs. Goldmarca is also listed on the Frankfurt and Berlin exchanges under the symbol "GDQ." For more information, please visit www.goldmarca.com.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
Safe Harbor Statement:
Statements contained in this release that are not historical facts are forward-looking statements which involve risk and uncertainties, which could cause actual results to differ materially from those, expressed in forward-looking statements including the following: changes in economic or environmental conditions and the Company's ability to execute its business model and strategic plans. The Company relies on litigation protection for forward-looking statements.
For further information
Robin Slaughter, President & CEO, 507-66714370 or Nick Demare, Director & CFO, 1-604-685-9316 or send email to info@goldmarca.com
--------------------------------------------------------------------------------
Source: Goldmarca Limited
Goldmarca acquires property 300 metres west of Aurelian discovery
Wednesday July 12, 3:52 pm ET
TSX-V: GML
PANAMA, July 12 /CNW/ - Goldmarca Limited (TSX-V:GML - News) is pleased to announce the signing of two option agreements to acquire 100% of concessions covering 7805 hectares in the Condor Gold Belt Ecuador. See Figure 1 at http://files.newswire.ca/499/Goldmarca_Map.doc.
The first property is the Eccolmetals Rio Machinaza (Eccolmetals) property which is 300 metres west of Aurelian's high-grade gold properties Fruta del Norte ("FDN") in the Condor Gold Belt Ecuador. See Figure 2 at http://files.newswire.ca/499/Goldmarca_Map.doc. The Eccolmetals property covers 765 hectares and is located, laterally to the west and adjoining the FDN target and some 400 m from the high-grade drill hole, CP-06-57, the results of which were announced by Aurelian June 6th of 2006. See figure 3 at http://files.newswire.ca/499/Goldmarca_Map.doc. The initial work program proposed for the Eccolmetals property includes confirmatory mapping,geophysics, both induced polarization and ground magnetic surveys; and drilling of targets.The Eccolmetals property option price is US$50,000 on signing and the balance of US$150,000 payable 90 days thereafter.
The second option agreement give rights to acquire claims covering 7,140 hectares for a total option exercise price of US$800,000 over 4 years, with US$200,000 payable in the first 12 months.
Goldmarca now has a good land position over the Condor Gold Belt, on the Ecuadorian side Goldmarca has 16,000 hectares and on the Peruvian side some 6,000 hectares at the Afrodita property. On the Ecuadorian side the drill program is ongoing with additional results expected by early August. In addition to the drill program an induced polarization and ground magnetic survey over the high grade breccia camp and associated disseminated types is scheduled to commence mid July.
Robin Slaughter Mining Engineer and M.Aus.I.M.M. is acting as Qualified Person in compliance with National Instrument 43-101 with respect to this release. He has reviewed the contents for accuracy.
On behalf of the Board of Directors,
Robin Slaughter,
President and Chief Executive Officer
ABOUT GOLDMARCA: Goldmarca Limited (TSX-V: GML - News) is an international mining company that is engaged in adding value to gold and mineral projects with a primary focus on assets in South America and Australia. By applying unique technology and expertise, Goldmarca is focused on delivering a low-cost option to develop resource projects that can provide a one-year payback of all capital costs. Goldmarca is also listed on the Frankfurt and Berlin exchanges under the symbol "GDQ." For more information, please visit www.goldmarca.com.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
Safe Harbor Statement:
Statements contained in this release that are not historical facts are forward-looking statements which involve risk and uncertainties, which could cause actual results to differ materially from those, expressed in forward-looking statements including the following: changes in economic or environmental conditions and the Company's ability to execute its business model and strategic plans. The Company relies on litigation protection for forward-looking statements.
For further information
Robin Slaughter, President & CEO, 507-66714370 or Nick Demare, Director & CFO, 1-604-685-9316 or send email to info@goldmarca.com
--------------------------------------------------------------------------------
Source: Goldmarca Limited
Lateegra Adds Depth and International Experience to the Board
Wednesday July 12, 3:15 am ET
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Jul 12, 2006 -- Lateegra Gold Corp. (TSX VENTURE:LRG.V - News)(FWB: LTG) (the "Company") announces the following corporate appointments:
Mr. David H. Francisco has agreed to join the company's Board of Directors. Since September 2005, Mr. Francisco has served as Senior Technical Advisor to the CEO of Newmont Mining Corp. Originally joining Newmont in 1995 as Vice President, International Operations, Mr. Francisco was elected to the position of Senior Vice President, International Operations in 1997, then responsible for world wide operations. Subsequent to that, he was elected Executive Vice President, Operations. Mr. Francisco holds a bachelor's degree in geological engineering from the University of Arizona. With his many years of experience and extensive knowledge of international mining, Mr. Francisco brings to Lateegra multi-faceted talent, assisting management in fulfilling the Company's mandate, for transitioning towards becoming a cash flow producing gold company.
The Company is pleased to welcome to the Technical Advisory Board, Dr. Tibor Rozgonyi. Dr. Rozgonyi currently sits as Head Professor of the Mining Engineering Department at the Colorado School of Mines. From 1990 to 1995, he served as Dean of Engineering at the University of Wollongong, Australia. In recognition of his professional accomplishments, Dr. Rozgonyi was elected to the Australian Academy of Technological Sciences & Engineering.
"I am very pleased to welcome both of these highly accomplished individuals to Lateegra Gold's developing team. With the additions of Mr. Francisco and Dr. Rozgonyi, the Company has assembled the skill sets required to grow a substantial enterprise in the gold mining industry," stated Michael Townsend, President and CEO.
Having recently completed a financing, the Company is actively pursuing a number of opportunities in Latin America, ranging from green fields exploration through near term production potentials.
The Company also wishes to announce the appointment of Peter Dickie to the position of Vice President, Corporate Affairs. Mr. Dickie brings over 10 years experience with public companies and in the securities business. Having spent a number of years in management positions, we envision Peter's organizational and public relations skills will provide Lateegra with enhanced guidance, also supporting Company progress.
About the Company
Lateegra Gold Corp. is a mineral exploration and development company with a mandate to build a significant portfolio of advanced exploration and near production properties with world class potential in Latin America.
ON BEHALF OF THE BOARD OF DIRECTORS
Michael Townsend, President and CEO
The TSX Venture Exchange has not yet reviewed and does not take responsibility for the adequacy or accuracy of the content of this news release.
Contact:
Contacts:
Lateegra Gold Corp.
Michael Townsend
President and CEO
(604) 669-9330 or Toll Free: 1-866-669-9377
(604) 669-9335 (FAX)
info@lateegra.com
http://www.lateegra.com
--------------------------------------------------------------------------------
Source: Lateegra Gold Corp.
Lateegra Adds Depth and International Experience to the Board
Wednesday July 12, 3:15 am ET
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Jul 12, 2006 -- Lateegra Gold Corp. (TSX VENTURE:LRG.V - News)(FWB: LTG) (the "Company") announces the following corporate appointments:
Mr. David H. Francisco has agreed to join the company's Board of Directors. Since September 2005, Mr. Francisco has served as Senior Technical Advisor to the CEO of Newmont Mining Corp. Originally joining Newmont in 1995 as Vice President, International Operations, Mr. Francisco was elected to the position of Senior Vice President, International Operations in 1997, then responsible for world wide operations. Subsequent to that, he was elected Executive Vice President, Operations. Mr. Francisco holds a bachelor's degree in geological engineering from the University of Arizona. With his many years of experience and extensive knowledge of international mining, Mr. Francisco brings to Lateegra multi-faceted talent, assisting management in fulfilling the Company's mandate, for transitioning towards becoming a cash flow producing gold company.
The Company is pleased to welcome to the Technical Advisory Board, Dr. Tibor Rozgonyi. Dr. Rozgonyi currently sits as Head Professor of the Mining Engineering Department at the Colorado School of Mines. From 1990 to 1995, he served as Dean of Engineering at the University of Wollongong, Australia. In recognition of his professional accomplishments, Dr. Rozgonyi was elected to the Australian Academy of Technological Sciences & Engineering.
"I am very pleased to welcome both of these highly accomplished individuals to Lateegra Gold's developing team. With the additions of Mr. Francisco and Dr. Rozgonyi, the Company has assembled the skill sets required to grow a substantial enterprise in the gold mining industry," stated Michael Townsend, President and CEO.
Having recently completed a financing, the Company is actively pursuing a number of opportunities in Latin America, ranging from green fields exploration through near term production potentials.
The Company also wishes to announce the appointment of Peter Dickie to the position of Vice President, Corporate Affairs. Mr. Dickie brings over 10 years experience with public companies and in the securities business. Having spent a number of years in management positions, we envision Peter's organizational and public relations skills will provide Lateegra with enhanced guidance, also supporting Company progress.
About the Company
Lateegra Gold Corp. is a mineral exploration and development company with a mandate to build a significant portfolio of advanced exploration and near production properties with world class potential in Latin America.
ON BEHALF OF THE BOARD OF DIRECTORS
Michael Townsend, President and CEO
The TSX Venture Exchange has not yet reviewed and does not take responsibility for the adequacy or accuracy of the content of this news release.
Contact:
Contacts:
Lateegra Gold Corp.
Michael Townsend
President and CEO
(604) 669-9330 or Toll Free: 1-866-669-9377
(604) 669-9335 (FAX)
info@lateegra.com
http://www.lateegra.com
--------------------------------------------------------------------------------
Source: Lateegra Gold Corp.
Lateegra Adds Depth and International Experience to the Board
Wednesday July 12, 3:15 am ET
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Jul 12, 2006 -- Lateegra Gold Corp. (TSX VENTURE:LRG.V - News)(FWB: LTG) (the "Company") announces the following corporate appointments:
Mr. David H. Francisco has agreed to join the company's Board of Directors. Since September 2005, Mr. Francisco has served as Senior Technical Advisor to the CEO of Newmont Mining Corp. Originally joining Newmont in 1995 as Vice President, International Operations, Mr. Francisco was elected to the position of Senior Vice President, International Operations in 1997, then responsible for world wide operations. Subsequent to that, he was elected Executive Vice President, Operations. Mr. Francisco holds a bachelor's degree in geological engineering from the University of Arizona. With his many years of experience and extensive knowledge of international mining, Mr. Francisco brings to Lateegra multi-faceted talent, assisting management in fulfilling the Company's mandate, for transitioning towards becoming a cash flow producing gold company.
The Company is pleased to welcome to the Technical Advisory Board, Dr. Tibor Rozgonyi. Dr. Rozgonyi currently sits as Head Professor of the Mining Engineering Department at the Colorado School of Mines. From 1990 to 1995, he served as Dean of Engineering at the University of Wollongong, Australia. In recognition of his professional accomplishments, Dr. Rozgonyi was elected to the Australian Academy of Technological Sciences & Engineering.
"I am very pleased to welcome both of these highly accomplished individuals to Lateegra Gold's developing team. With the additions of Mr. Francisco and Dr. Rozgonyi, the Company has assembled the skill sets required to grow a substantial enterprise in the gold mining industry," stated Michael Townsend, President and CEO.
Having recently completed a financing, the Company is actively pursuing a number of opportunities in Latin America, ranging from green fields exploration through near term production potentials.
The Company also wishes to announce the appointment of Peter Dickie to the position of Vice President, Corporate Affairs. Mr. Dickie brings over 10 years experience with public companies and in the securities business. Having spent a number of years in management positions, we envision Peter's organizational and public relations skills will provide Lateegra with enhanced guidance, also supporting Company progress.
About the Company
Lateegra Gold Corp. is a mineral exploration and development company with a mandate to build a significant portfolio of advanced exploration and near production properties with world class potential in Latin America.
ON BEHALF OF THE BOARD OF DIRECTORS
Michael Townsend, President and CEO
The TSX Venture Exchange has not yet reviewed and does not take responsibility for the adequacy or accuracy of the content of this news release.
Contact:
Contacts:
Lateegra Gold Corp.
Michael Townsend
President and CEO
(604) 669-9330 or Toll Free: 1-866-669-9377
(604) 669-9335 (FAX)
info@lateegra.com
http://www.lateegra.com
--------------------------------------------------------------------------------
Source: Lateegra Gold Corp.
Lateegra Adds Depth and International Experience to the Board
Wednesday July 12, 3:15 am ET
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Jul 12, 2006 -- Lateegra Gold Corp. (TSX VENTURE:LRG.V - News)(FWB: LTG) (the "Company") announces the following corporate appointments:
Mr. David H. Francisco has agreed to join the company's Board of Directors. Since September 2005, Mr. Francisco has served as Senior Technical Advisor to the CEO of Newmont Mining Corp. Originally joining Newmont in 1995 as Vice President, International Operations, Mr. Francisco was elected to the position of Senior Vice President, International Operations in 1997, then responsible for world wide operations. Subsequent to that, he was elected Executive Vice President, Operations. Mr. Francisco holds a bachelor's degree in geological engineering from the University of Arizona. With his many years of experience and extensive knowledge of international mining, Mr. Francisco brings to Lateegra multi-faceted talent, assisting management in fulfilling the Company's mandate, for transitioning towards becoming a cash flow producing gold company.
The Company is pleased to welcome to the Technical Advisory Board, Dr. Tibor Rozgonyi. Dr. Rozgonyi currently sits as Head Professor of the Mining Engineering Department at the Colorado School of Mines. From 1990 to 1995, he served as Dean of Engineering at the University of Wollongong, Australia. In recognition of his professional accomplishments, Dr. Rozgonyi was elected to the Australian Academy of Technological Sciences & Engineering.
"I am very pleased to welcome both of these highly accomplished individuals to Lateegra Gold's developing team. With the additions of Mr. Francisco and Dr. Rozgonyi, the Company has assembled the skill sets required to grow a substantial enterprise in the gold mining industry," stated Michael Townsend, President and CEO.
Having recently completed a financing, the Company is actively pursuing a number of opportunities in Latin America, ranging from green fields exploration through near term production potentials.
The Company also wishes to announce the appointment of Peter Dickie to the position of Vice President, Corporate Affairs. Mr. Dickie brings over 10 years experience with public companies and in the securities business. Having spent a number of years in management positions, we envision Peter's organizational and public relations skills will provide Lateegra with enhanced guidance, also supporting Company progress.
About the Company
Lateegra Gold Corp. is a mineral exploration and development company with a mandate to build a significant portfolio of advanced exploration and near production properties with world class potential in Latin America.
ON BEHALF OF THE BOARD OF DIRECTORS
Michael Townsend, President and CEO
The TSX Venture Exchange has not yet reviewed and does not take responsibility for the adequacy or accuracy of the content of this news release.
Contact:
Contacts:
Lateegra Gold Corp.
Michael Townsend
President and CEO
(604) 669-9330 or Toll Free: 1-866-669-9377
(604) 669-9335 (FAX)
info@lateegra.com
http://www.lateegra.com
--------------------------------------------------------------------------------
Source: Lateegra Gold Corp.
Chariot Announces Cu Drill Intercepts of 38 metres at 8.14%, 80 metres at 2.39%, and 27 metres at 4.47% including 9 metres at 13.05%, 17 metres at 9.10% and 17 metres at 6.16%
Tuesday July 11, 9:09 am ET
TORONTO, ONTARIO--(CCNMatthews - July 11, 2006) - Chariot Resources Limited ("Chariot") (TSX:CHD - News) is pleased to announce further drill results from its 2006 drilling campaign at the Marcona Copper Project. These results are from the high-grade core of the HG Sulphide zone that lies within the ultimate pit boundary of the Mina Justa Main Pit as defined in the Scoping Study released on May 3, 2006.
The HG Sulphide zone, including the high-grade core, has both copper oxide mineralization and copper sulphide mineralization with both types often occurring in the same drill hole. The most recent drill results from the high-grade core of the HG Sulphide zone where released on April 12, 2006.
Notable highlights at the HG Sulphide zone are:- MJV-06-110 copper oxide mineralization
10 metres at 0.62% Cu (40 to 50 m), and
12 metres at 0.74% Cu (222 to 234 m). copper sulphide mineralization
96 metres at 1.55% Cu (238 to 334 m), including
10 metres at 3.56% Cu (292 to 302 m).- MJV-06-138 copper oxide mineralization
18 metres at 0.88% Cu (126 to 144 m), and
10 metres at 0.99% Cu (238 to 248 m) copper sulphide mineralization
80 metres at 2.39% (286 to 366m), including
14 metres at 6.19% Cu (334 to 348 m).- MJV-06-141 copper oxide mineralization
13.7 metres at 0.54% Cu (30.3 to 44.0m), and
8.9 metres at 0.91% Cu ( 102.8 to 111.8m), and
10.6 metres at 0.99% Cu (135.5 to 146.2 m), and
10.4 metres at 1.03% Cu (169.3 to 179.8 m). copper sulphide mineralization
18.6 metres at 1.93% Cu (237.4 to 256.1), and
27.2 metres at 4.47% Cu (264.1 to 291.4 m), including
16.6 metres at 6.16% Cu (272.4 to 289.0 m)- MJV-06-142 copper oxide mineralization
20 metres at 0.56% Cu (114 to 134 m). copper sulphide mineralization
44 metres at 2.25% (258 to 302m), including
18 metres at 3.94% (282 to 300 m).- MJV-06-162 copper oxide mineralization
16.5 metres at 0.65% Cu (132.4 to 148.9 m). copper sulphide mineralization
16.8 metres at 2.78% Cu (176.2 to 193.0 m), and
24.7 metres at 1.88% Cu (229.1 to 253.8 m), and
38.0 metres at 8.14% Cu (277.8 to 315.8 m), including
17.4 metres at 9.10% Cu (279.6 to 297.1 m), and
8.8 metres at 13.05% Cu (300.1 to 308.9 m).
All intersections were determined using a rolling 0.25% Cu cut-off and up to 2 metres of internal waste. High-grade intersections in copper oxide mineralization were calculated using a rolling 1% Cu cut-off and up to 2 metres of internal waste. Higher-grade intersections in copper sulphide mineralization were determined using a rolling 2% Cu cut-off. All intercepts are down-hole length and intersection true widths have not been calculated.
Sampling procedures for the current drilling program are the same as previously reported and in summary: All RC chips are logged at the Marcona project site. Holes are sampled in their entirety in two metre runs and split at the drill site. A 1/8 split or approximately 5 kilograms of a two metre sample is submitted to the on-site SGS Lakefield Research ("SGS") preparation facility where samples are crushed to 95% passing 10 mesh and riffle split from which a 250 gram sub-sample is taken. The sub-sample is submitted to SGS, in Lima, for analysis. The coarse sample prep reject is bagged and stored on site and following analysis the analytical pulp sample is returned to Chariot for on-site storage.
All diamond drill core is photographed and geologically and geo-technically logged prior to sampling. Holes are sampled based on mineralization and geology and sample limits do not cross lithological boundaries. Core is marked and cut with a diamond core saw and half-core is submitted to the laboratory for analysis. The remaining half core and un-sampled intervals are stored at a secure location at the Marcona site where it remains available for further logging and verification sampling, if required.
All samples are analyzed for copper (Cu) using sequential leach resulting in four Cu analyses per sample (Cu total, Cu soluble in sulphuric acid, Cu soluble in sodium cyanide and a Cu residual). Gold is sampled using a 30 gram Fire Assay with an AA finish. Sulphide samples are submitted for 38 element ICP analysis with aqua-regia digest. Quality control procedures include insertion of certified project standards at the drill site (1 in 30), field, crush and pulp duplicate samples (1 in 30 each), laboratory duplicates (1 in 30) and reagent blanks and reference material (1 in 30).
Data contained in this news release was validated and intersections calculated by Robert William Baxter, BSc. Hons. App. Geology, Director, Executive VP, Chariot Resources Limited, the designated Qualified Person as defined in National Instrument 43-101.
Chariot Resources Limited (TSX:CHD - News) is developing its 70% owned Marcona Copper Project in Peru. With exceptional infrastructure, a significant resource and strong financial and commercial partners, Chariot's Marcona Copper Project is scheduled to be a mid-tier copper producer by 2009.
Additional details about Chariot can be viewed at the Company's website, www.chariotresources.com.
CHARIOT RESOURCES LIMITED.
Alex Black
Chairman
Contact:
Toronto, Canada Office
Chariot Resources Limited
Alex Black - Chairman
Office: +1 (416) 363-4554
Cell Phone: +1 (647) 287-4980
Toronto, Canada Office
Chariot Resources Limited
Ulli Rath - President & CEO
Office: +1 (416) 363-4554
Cell Phone: +1 (416) 270-4481
Lima, Peru Office
Chariot Resources Limited
Bob Baxter - Director
Office: +51-1-617-1313
Cell Phone: +51-1-9790-3000
www.chariotresources.com
--------------------------------------------------------------------------------
Source: Chariot Resources Limited
Oil and Gas Geophysicist Joins West Hawk Board-U.S. Energy Subsidiary Formed
Tuesday July 11, 3:05 am ET
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Jul 11, 2006 -- West Hawk Development Corp. (TSX VENTURE:WHD.V - News)(FWB: H5N) (the "Company") is pleased to announce that Dr. John A. Reeves, Jr., P.E. has agreed to join the board of West Hawk Development Corp. and its newly-formed, wholly owned subsidiary, West Hawk Energy (USA) LLC. Dr. Reeves has a Ph.D. in Mineral Economics, MS, Metallurgical Engineering, and a BS, Physics/Geophysics from the Colorado School of Mines.
Dr. Reeves' 30 years experience in the mineral industry includes being Principal for Reeves Engineering and Consulting from 1992 to the present. His extensive work in the energy sector ranges from evaluating to developing oil and gas properties in Indonesia, the Louisiana Gulf Coast, Utah, Alaska, and Colorado including being a member of a merger-acquisition-divesture team with a major Canadian oil and gas company. He was instrumental in financing the start-up of Pearl Queen Perlite, and Diamond K. He continues to work with Geospectum, a geophysical data processing company which identifies/develops oil and gas prospects in Texas, New Mexico, and Arizona.
After graduating from the Colorado School of Mines, Dr. Reeves commenced his career in 1975 at Mid-Continent Minerals as staff engineer and rose through ranks to become a Director and Officer of the company, along with its wholly owned subsidiary, Mid Continent Coal and Coke, the U.S.'s largest independent broker and marketer of coke products. While directly involved in coal operations, Dr. Reeves designed and developed two patents for high wall strata control.
At Diamond K, commencing in 1992, Dr. Reeves was instrumental in developing the business, and rising to the position of Director/Officer which he continues to hold while consulting for the company.
Dr. Reeves is very enthusiastic about joining the West Hawk Board of Directors, firmly believing in the Company's vision to become a major player in the development of conventional and non-conventional sources of energy products including coal to syn-gas and coal to liquids as a feasible alternative for supplying petrochemical fuels given the world's continuing depletion of traditional oil and gas reserves. Dr. Reeves' mission is to augment West Hawk's coal gasification and gas production via the identification and development of conventional/non-conventional resources.
"We are extremely pleased to welcome Dr. Reeves and his tremendous passion for our corporate vision. His firm belief in West Hawk's aim to become a major player in the discovery and production of conventional and non-conventional sources of energy products is a perfect fit for our team," commented CEO Chris Verrico.
"Based in the West Hawk Energy (USA) LLC office, headquartered in Denver Colorado, and being directed under the auspices of Company President, Dr. Wm. Mark Hart, Dr. Reeves brings a new and exciting dimension and breadth to the Company," says Chairman Michael Townsend.
About the Company - West Hawk is an energy Company, building shareholder value through the exploration and development of its various properties in Western and Northern Canada.
ON BEHALF OF THE BOARD OF DIRECTORS
Michael Townsend, Executive Chairman
This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the British Columbia Securities Commission and the United States Securities & Exchange Commission.
The TSX Venture Exchange has not yet reviewed and does not take responsibility for the adequacy or accuracy of the content of this news release.
Contact:
Contacts:
West Hawk Development Corp.
Michael Townsend
Executive Chairman
(604) 669-9330
(604) 669-9335 (FAX)
info@westhawkdevelopment.com
http://www.westhawkdevelopment.com
--------------------------------------------------------------------------------
Source: West Hawk Development Corp.
GARDENING JOURNAL
Thursday, July 06, 2006
In the wee hours of the morning I heard rain, so no watering today. It cleared up nicely later in the day and became less humid. Thank you Canada for the cool front.
The tomato plants are growing well. Next year I will remember only to pinch suckers that grow between two stems. On two of the Beefsteaks, I mistakenly pinched a stem, but on the other two I left the two stems alone to grow normally. The latter is the proper approach and will provide more tomatoes. (The Better Boy tomatoes seem not have this two-stem configuration.)
The tomatoes are now well above the tomato cages. I continue to tie the growing tomatoes to the stakes, but those stakes are beginning to run out of room.
The spacing between the tomato cages must be increased next year, to enable easier weeding with gardening tools.
Last autumn’s effort at a burying a six-inch layer of leaves into 10-inch trenches in the earth seems to have provided valuable nourishment to the tomato and cucumber plants. The very ample rain has also contributed to the rapid growth of them as well.
Today, numerous cucumber blossoms appeared. I do hope that the bees pollinate them and that they begin to grow soon.
Tomorrow is another day!
Deann,
Thanks for the post.
This gardening season I've turned to the watering can instead of the hose to water my tomatoes, cucumbers, peppers and basil.
My water bill had been getting too high, so I take my time and send a direct hit of water at the base of these vegetables.
I have a friend who bought a large water container partially subsidized by his town. He has water restrictions, so he had to take action to keep the plants watered.
Good luck this season,
sumisu
Plexmar Resources Inc.: Geophysical Contracts Awarded
Thursday July 6, 1:33 pm ET
SAINTE-FOY, QUEBEC--(CCNMatthews - July 6, 2006) - Plexmar Resources Inc. (TSX VENTURE:PLE - News), is pleased to announce that contracts have been signed with two geophysical contractors.
A 2,100 line-km airborne survey covering the whole property will be flown to collect magnetic and radiometric data. Lines will be flown at 200meter intervals with tie lines at 2 kilometer intervals. The survey should be completed by the end of this month.
A ground geophysical survey will start mobilizing next weekend and will be completed by late August. Over 149 Kilometers of GPS, Magnetic and IP/Res survey will be carried out over the most prospective areas.
Guy Bedard, president says: "The awards of these contracts are the first step towards drilling this exciting project. They will help the geologists refine and establish new drill targets."
On Bolsa del Diablo
Plexmar controls over 220 km2 of land in Northern Peru near the border with Ecuador. At the present, over 250 artisan miners are pulling gold on a daily basis from trenches or pits located in an area measuring approximately 6km2 roughly centered within Plexmar's main claim block. The zone is characterized by low to intense silica and clay hydrothermal alteration. All the volcanic rocks in the area of interest show pervasive argillic alteration and have developed very intense stockwork structures. Gold mineralization occurs partly as fracture fillings in the stockwork and also as dissemination throughout the rock. Limonitization is pervasive throughout the rock. This intense stockwork was observed in numerous places on the property.
Guy Bedard acted as the QP for the preparation of this release.
102 M shares outstanding
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Contact:
Guy Bedard
Plexmar Resources Inc.
President
(418) 658-6776
www.plexmar.com
(866) 460-0408
Paradox Public Relations
(514) 341-040
americano,
Agree with your assessment.
As my investment was at $31.38, I did not sell during the correction and now look forward to some profit.
Over time and with the diminished value of the dollar, I think one day GG will be a $100 stock.
thanks,
sumisu
Emgold Mining announces appointment of Vice President, Operations
Thursday June 29, 9:30 am ET
TSX Venture Exchange: EMR
OTC Bulletin Board: EGMCF U.S.
20-F Registration: 000-51411
Frankfurt Stock Exchange: EML
VANCOUVER, June 29 /CNW/ - Emgold Mining Corporation (EMR-TSX Venture) (the "Company" or "Emgold") is pleased to announce the appointment of Mr. David G. Watkinson, P.Eng., to the newly created role of Vice President, Operations. Mr. Watkinson will be responsible for management of the day-to-day operations of Idaho-Maryland Mining Corporation and Golden Bear Ceramics Company in Grass Valley, California.
Mr. Watkinson brings over 20 years of professional engineering experience in underground and open pit mine development, including mine permitting, engineering, feasibility, construction, and operations to Emgold. In addition, he has extensive experience in project management, having taken projects from grass roots start-up to successful operating status. He holds a B.Sc. in Applied Science, Mining Engineering, from Queen's University in Kingston, Ontario (1985) and is a Registered Professional Engineer in the Province of Ontario. Mr. Watkinson has been responsible for management of large capital projects and operations in Canada, the United States and the Philippines. He has held progressively senior positions with Placer Dome Inc., Kinross Gold Corporation, Thyssen Mining Construction and Vulcan Materials Company.
"We are very pleased that Dave has chosen to join the Emgold Mining team," said Bill Witte, President and CEO. "Dave's extensive experience in project and operations management is a valuable addition to Emgold's technical and management team as we continue to advance the Company's goal of permitting, exploring, developing and possibly re-opening the Idaho-Maryland Gold Mine and the successful operation of a phased 2400 ton per day integrated gold mill and ceramic production operating facility.
--------------------------------------------------------------------------------
Source: Emgold Mining Corporation
Emgold Mining reports on Annual General Meeting and the appointment of two new independent directors
Wednesday June 28, 9:30 am ET
<< TSX Venture Exchange: EMR OTC Bulletin Board: EGMCF U.S. 20-F Registration: 000-51411 Frankfurt Stock Exchange: EML >>
VANCOUVER, June 28 /CNW/ - Emgold Mining Corporation (EMR - TSX Venture) (the "Company" or "Emgold") is pleased to announce the results of its Annual General Meeting held in Vancouver on June 22, 2006. All resolutions proposed were passed. Included in the resolutions passed were the election of six directors to the Board including two new independent members. The Board of Directors elected for the coming year are: Sargent H. Berner, John King Burns, Robin A. W. Elliott, Joel D. Schneyer, William J. Witte and Kenneth R. Yurichuk. Mr. Elliott and Mr. Yurichuk are newly elected members to the Company's Board of Directors. We wish to thank Mr. Frank A. Lang and Mr. Ross Guenther for their many years of dedication and commitment to the Company as they step down as members of the Board of Directors.
Following the completion of the formal proceedings of the meeting, a presentation was given outlining the activities of the past fiscal year and the outlook for the coming year. These include further exploration, permitting and feasibility work on the Idaho-Maryland Mine in Grass Valley, California and the commercialization of the Ceramext(TM) technology which produces high quality ceramic building materials from a wide range of waste materials. The presentation is available for viewing on the Company's web site at www.emgold.com.
Emgold would like to welcome Mr. Kenneth R. Yurichuk, CA to the Company's Board of Directors. Mr. Yurichuk is a Chartered Accountant and senior partner in the public accounting firm Bobot & Yurichuk LLP, Chartered Accountants, Toronto. Mr. Yurichuk has been in public practice for over 30 years and has served as both director and officer of private and publicly-traded corporations involved in a wide range of businesses including mining, real estate development, investment and manufacturing. In addition Mr. Yurichuk is a director of Mavrix Fund Management Inc. and served as a director and officer of the General Partners for several Contrarian Resource Fund Limited Partnerships and Mavrix Fund Limited Partnerships. Mr. Yurichuk holds a B.Com degree as well as the CA designation.
Emgold would also like to welcome Robin A. W. Elliott, FCA to the Company's Board of Directors. Mr. Elliott is a Senior Partner at Manning Elliott LLP, Chartered Accountants and has been with the firm since 1975. Mr. Elliott has more than thirty years of accounting experience, primarily with small to medium-sized, owner-managed businesses and family holding and investment companies. Over the years, he has been on several committees related to the Institute of Chartered Accountants of British Columbia, including the Discipline Tribunal, Professional Liability Task Force, FCA Nominating, Regulatory Policy, Professional Development, and is a past President (2003) of the Institute. He is currently a member of a National Committee for professional liability insurance and was elected a Fellow in 1991. He is also a member of the Trust and Estate Practitioners Society, the Canadian Tax Foundation and the Institute of Corporate Directors (and is on the executive of the BC chapter). Mr. Elliott has completed the Simon Fraser Public Companies course and is a director of several private companies and charitable organizations. He received his Chartered Accountant designation in 1969, and holds a Bachelor of Commerce degree from the University of British Columbia (1965).
The senior management of Emgold looks forward to drawing on Mr. Yurichuk and Mr. Elliott's respective areas of expertise as the process of bringing the Idaho-Maryland Gold Mine into production and commercializing the Ceramext(TM) technology which, converts mine and other waste materials to high quality ceramic building materials are advanced to successful commercial operations.
Subsequent to the Annual General Meeting, the Board of Directors met and appointed the following officers President and CEO, William J. Witte, P.Eng.; Chief Financial Officer and Corporate Secretary, Ms. Shannon Ross, CA; Vice President, Project Development, Ian Chang, P.Eng.; Vice President, Operations, David Watkinson, P.Eng. and Vice President, Engineering and Construction, David Sinitsin, P.Eng.
John King Burns was appointed Chairman of the Board of Directors (non-executive). Board Committees were appointed and include the Audit Committee (Mr. Robin Elliott, Chair), Corporate Governance and Compensation (Mr. Sargent Berner, Chair), and the Environmental Health and Safety Committee (Mr. William J. Witte, Chair).
For more information about Emgold, the Stewart, Rozan and Jazz Properties in British Columbia, the Idaho-Maryland Project and Golden Bear Ceramics Company and the Ceramext(TM) Process, please visit www.emgold.com or www.sedar.com.
On Behalf of the Board of Directors,
William J. (Bill) Witte, P.Eng.
President and Chief Executive Officer
No regulatory authority has approved or disapproved the information
contained in this news release.
For further information
Michael O'Connor, Manager, Investor Relations, Tel: (604) 687-4622, Fax: (604) 687-4212, Email: info@emgold.com
Myself,
I was hoping that LQMT would become another TIE!
sumisu
Smartstox.com Spotlights Lateegra Gold, Sedex Mining, and Solitaire Minerals
Thursday June 22, 9:00 am ET
VANCOUVER, British Columbia, June 22, 2006 (PRIMEZONE) -- The Smartstox Online TV Talk Show, a leading international Internet news portal on small-cap companies, is pleased to announce Web-streamed CEO interviews and corporate profiles are now available for these exploration companies.
Lateegra Gold Corp. (TSX VENTURE:LRG.V - News) recently announced the acquisition of the past-producing 'La Guadalupana' property in the Mexican state of Chihauhau. The polymetallic showing was originally discovered by the Spaniards, with the property operating as a tungsten-copper mine from the 1950s through 1980. A bulk sample taken in 1997 had values up to 4.0 g/t Au, 20 oz/t Ag, and 29.9% Cu! The company feels the area is prospective for a bulk tonnage copper-gold-silver porphyry deposit.
Learn more from company President Michael Townsend at http://www.smartstox.com/interviews/lrg.php.
Sedex Mining Corp. (TSX VENTURE:SDN.V - News) Sedex Mining has a range of exploration properties across Canada -- diamond, gold and copper prospects in Ontario, a search for polymetallic 'Sullivan-type' deposits in BC, and lead-zinc holdings in the Yukon. Their prospective diamond holdings in Ontario are in the newly developing camp near Wawa. Discoveries in this easily accessible region with a rich mining history would have dramatically lower costs than the mines in the far north. Read our Smartstox Report and watch our interview with company President Richard Hughes at http://www.smartstox.com/interviews/sdn.php
Solitaire Minerals Corp. (TSX VENTURE:SLT.V - News) has important properties in two of Canada's most active exploration districts -- Saskatchewan's Athabasca Basin for uranium, and the Red Lake Gold Camp in Ontario. Red Lake is the home of the famous Campbell and Red Lake mines. A new property addition in the Great Bear Lake area of the NWT shows good potential for an IOCG-type deposit. Our Smartstox interview with company President Charles Desjardin can be viewed at http://www.smartstox.com/interviews/slt.php.
To view our full interview line-up, visit http://www.smartstox.com
Smartstox.com provides investors with informative investment-related content through video and audio interviews with the management of small cap companies discussing their organization's activities and outlook, along with written profiles of the company. The profiled companies themselves compensate Smartstox.com for production of the materials. Readers are encouraged to read our full disclosure, available at http://www.smartstox.com.
Contact:
The Smartstox Online TV Talk Show
Stanlie Hunt, President
(604) 628-4592
(416) 628-4841
info@smartstox.com
--------------------------------------------------------------------------------
Source: Smartstox.com; Lateegra Gold Corp., Sedex Mining Corp., Solitaire Minerals Corp.
Miramar Reports Further Progress in Outlining Pit Possibility at Madrid
Tuesday June 20, 1:39 pm ET
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Jun 20, 2006 -- Significant drill results at Madrid with intercepts of 3.2g/t Au over 164m and 9.1g/t Au over 38.3m
Miramar Mining Corporation (TSX:MAE.TO - News)(AMEX:MNG - News) today announced more significant results from the 2006 drilling program at its Hope Bay Project in Nunavut. The program is focussed on the Madrid district, where drills were testing for newly defined mineralization that would enhance the possibility of a large pit concept at Madrid. The latest shallow Suluk infill drilling as well as drilling along the southern extension of Suluk has exceeded expectations.
Miramar embarked on the 2006 exploration campaign at Hope Bay with the objective of defining a second phase of production on the belt following the proposed Doris North Project which is now in the permitting process. The second phase options include two scenarios: a) a 350,000 ounce per year open pit/underground operation; and b) a large pit concept.
Based on previous modeling of the deposits, preliminary open pit designs in the Madrid area (which includes the Naartok, Rand and Suluk deposits) illustrated the potential for two or more small shallow pits to exploit the Madrid resource. Modelling completed at the end of 2005 indicated the potential for much larger scale open pit operations. Therefore, in an effort to maximize the economics of any potential open pit, 2006 drilling was planned and is ongoing with the objective of determining the continuity of mineralization between these deposits (the gaps), as well as indicating the previously identified mineralization extends to depth. This will determine the optimal through put for any contemplated mill.
The winter program focused on completing drilling off the lake which primarily tested the Suluk targets. Drilling to date has returned significant results which infilled and expanded the previously modeled mineralization at Suluk. Some of the more significant results include 06PMD428 which returned 28.0 m grading 11.28g/t gold and 06PMD427 intersected a broad mineralized interval of 3.2g/t Au over 164m including two intervals of 51.2 m grading 3.3g/t gold and 52.5m grading over 4.6g/t gold. Extending mineralization to depth at Suluk and finding mineralization in the gaps at Madrid could possibly support a deeper wider pit, which could increase tonnage and potentially lower costs enhancing the economics of any contemplated large pit concept.
"This year's primary focus is now to determine the size of the possible second phase of production at Hope Bay," said Tony Walsh, Miramar's President and CEO. "With the work done and the results received to date, it is evident that at Madrid, the work needs to now focus on size. With a view to determining the optimal mining and milling capacity, drilling will be completed in the 2006 program to determine tonnage potential. Miramar intends to complete studies by the end of 2006 to outline various capacities of potential production anchored at Madrid from which to choose the best option."
2006 Madrid Program
The goals of the campaign are to:
- seek to expand existing resources to enhance project economics
- upgrade resources by infill drilling
- aggressively seek to extend the Madrid system
- complete initial drilling to determine the potential size of a Large Pit Scenario
A program of ice based infill and expansion drilling around the key Madrid zones has been underway since mid-March to meet these objectives. A total of 26,500 metres in 83 holes has been completed to date with results available a further 22 holes. The first 32 Madrid holes were reported on Miramar news release dated May 25, 2006, which can be found on the company website at www.miramarmining.com. Results for the new holes are presented below.
Suluk and South Suluk
A project of infill drilling the upper 250m of the Suluk resource targeting the upper 100 meters and strike extensions to the north and south has been completed. Drilling has successfully identified the Suluk mineralization extends northwards towards the Rand and Naartok deposits indicating continuity of the mineralizing system between the resource areas. Additionally drilling has also extended the Suluk mineralization southwards with all holes returning results equivalent to or better than grades and thicknesses expected based on data from surrounding holes. Examples include 06PMD428 in the shallow northern portion of the deposit returning 9.1g/t Au over 38.3m and 06PMD427 at the south end of the resource area intersected a broad mineralized interval of 3.2g/t Au over 164.2m including two intervals of 3.3g/t Au over 51.2 m and 6.0g/t Au over 52.5m.
Suluk & South Suluk highlights
Hole ID Area From (m) To (m) Length (m) Au (g/t)
------- ---- ------- ----- --------- -------
PMD418 Suluk 20.7 25.2 4.5 8.7
and 168.5 169.0 0.5 371.0
PMD420 Suluk 72.0 87.1 15.1 6.1
PMD421 Suluk 61.7 68.6 6.9 16.0
PMD427 Suluk 138.2 302.5 164.2 3.2
including 158.5 210.6 52.1 3.3
including 250.0 302.6 52.5 6.0
PMD428 Suluk 50.5 88.8 38.3 9.1
including 50.5 71.1 20.6 12.8
PMD429 Suluk 250.9 264.5 13.6 4.7
PSD 115 South of Suluk 107.8 110.2 2.4 15.4
PSD117 South of Suluk 129.4 129.7 0.3 196.5
Rand Gap Areas
Drilling at Rand infilled between wide spaced holes targeting higher grade zones, and extended mineralization on strike and down dip into gap areas between Naartok, Rand and Suluk. This drilling has demonstrated that the mineralizing system with low to moderate values has continuity between our resource areas and in the process has also intersected shallow zones of significant grades and thicknesses. Some significant results to date include 06PMD430 returning 2.9g/t gold over 14.0m and 06PMD426 returning 3.6g/t Au over 12.6m.
Rand Gap Highlights:
Hole ID Area From (m) To (m) Length (m) Au (g/t)
------- ---- ------- ----- --------- -------
PMD419 Rand Suluk Gap 368.9 379.5 10.6 5.5
Including 370.9 376.5 5.6 9.1
PMD 426 Rand Suluk Gap 207.9 220.5 12.6 3.6
Naartok Expansion and Infill
Drilling at Madrid has shifted to the Naartok-Rand gap and Naartok East deposits. Initial drill targets are larger stepout holes utilizing two to three core drills. The Naartok drilling will expand to five to seven drills in mid July. Results from this drilling are pending.
2006 Boston
The Boston B4 evaluation is ongoing with four holes completed to date. The B4 zone is a sparsely drilled vein system which is parallel to the main B2 and B3 zones that comprise the bulk of the Boston resource. This project is targeting higher grade intercepts from previous drilling is areas with greater than 200 metre drill spacing. Results from these initial holes are pending.
Miramar Mining Corporation
Miramar is a Canadian gold company that controls the Hope Bay project, the largest undeveloped gold project in Canada. The Hope Bay project extends over 1,000 sq. km. and encompasses one of the most prospective undeveloped greenstone belts in Canada. Miramar aims to become an intermediate gold producer through the integrated development of the Hope Bay belt. Any production at Hope Bay is subject to positive feasibility studies, permitting and regulatory approval, the availability of financing and other contingencies.
The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 and reviewed by John Wakeford, P. Geo. Vice President, Exploration for Miramar Mining Corporation, and the Qualified Person for the Company as set out in NI 43-101. The analytical method for the gold analyses is gravimetric assay done by ALS Chemex Laboratories in North Vancouver with metallic screen assays for all samples assaying over 20g/t gold. Check assays are completed by TSL in Saskatoon.
Assay intervals reported are drill core lengths. Geologic interpretation of drill results is underway. However, it is estimated that true widths would generally be at least 70-80% of reported core lengths.
Additional Information
Diagrams and tables detailing some of the matters described herein are attached to this news release. If you are missing these, please download this news release from Miramar's website at http://www.miramarmining.com/, to which they are attached, or contact us at the numbers listed below. All other information previously released on the Hope Bay Project is also available on this website.
Statements relating to exploration work at the Hope Bay project and the expected costs and results of this work and statements regarding the planned program for 2006, proposed feasibility studies and possible production strategies are forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Information inferred from the interpretation of drilling results and information concerning mineral resource estimates may also be deemed to be forward-looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. These forward-looking statements 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, including, without limitation: risks related to fluctuations in gold prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company's properties; uncertainties involved in the interpretation of drilling results and other tests and the estimation of gold reserves and resources; the possibility that required permits may not be obtained on a timely manner or at all; the possibility that capital and operating costs may be higher than currently estimated and may preclude commercial development or render operations uneconomic; the possibility that the estimated recovery rates may not be achieved; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; the risk of environmental contamination or damage resulting from Miramar's operations and other risks and uncertainties, including those described in the Miramar's Annual Report on Form 40-F for the year ended December 31, 2005 and Reports on Form 6-K filed with the Securities and Exchange Commission.
Forward-looking statements are based on the beliefs, estimates and opinions of Miramar's management on the date the statements are made. Miramar undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change.
This news release has been authorized by the undersigned on behalf of Miramar Mining Corporation.
Anthony P. Walsh, President & CEO, Miramar Mining Corporation
To view the maps attached to this release please click on the following link: http://www.ccnmatthews.com/docs/mae0620.pdf
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Core Gold
From To Length Grade
Hole-ID Zone (m) (m) (m) (g/t)
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06PMD417 Suluk 331.3 331.9 0.6 90.6
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And 426.3 427.8 1.5 2.1
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And 433.4 439.4 6.0 5.3
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Including 434.9 436.4 1.5 12.3
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And 453.0 461.1 8.1 2.6
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Including 457.9 459.4 1.5 6.5
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And 472.6 473.7 0.9 2.9
--------------------------------------------------------------------
And 476.9 480.9 4.0 4.2
--------------------------------------------------------------------
Including 476.9 478.5 1.6 6.2
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And 520.2 521.2 1.0 4.2
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And 526.2 527.1 0.9 4.8
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And 561.5 563.1 1.6 3.3
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Including 562.4 563.1 0.7 5.3
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006PMD41 Suluk 20.1 32.0 11.9 5.4
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Including 20.7 25.2 4.5 8.7
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Including 29.7 31.0 1.3 8.5
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And 35.7 42.8 7.1 4.8
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Including 37.0 38.2 1.2 12.3
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And 60.0 63.5 3.5 3.1
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And 86.7 97.0 10.3 2.8
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Including 86.7 90.0 3.3 5.8
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And 165.8 170.5 4.7 42.1
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Including 168.5 169.0 0.5 371.0
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06PMD419 Rand Suluk Gap 46.0 47.5 1.5 3.1
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And 368.9 379.5 10.6 5.5
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Including 370.9 376.5 5.6 9.1
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06PMD420 Suluk 25.0 27.1 2.1 2.5
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And 57.0 66.0 9.0 2.5
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Including 60.5 61.7 1.2 8.8
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And 72.0 87.1 15.1 6.1
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Including 72.0 75.2 3.2 20.8
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Including 86.1 87.1 1.0 5.6
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And 123.0 128.8 5.8 2.4
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Including 128.0 128.8 0.8 6.8
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06PMD421 Suluk 40.3 51.6 11.3 1.8
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And 61.7 68.6 6.9 16.0
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Including 63.2 67.1 3.9 26.3
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And 71.6 76.1 4.5 5.7
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Including 73.9 74.6 0.7 22.7
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And 79.1 82.1 3.0 2.6
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And 104.5 107.1 2.6 2.7
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Including 104.5 105.3 0.8 6.6
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06PMD422 Suluk 321.0 326.8 5.8 2.4
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Including And 322.0 322.3 0.3 5.3
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Further Assays Pending
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06PMD423 Suluk 78.3 79.0 0.7 2.9
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06PMD424 n/a Abandoned
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06PMD425 Suluk Rand Gap 333.8 335.3 1.5 2.0
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06PMD426 Suluk Rand Gap 166.7 168.6 1.9 2.2
--------------------------------------------------------------------
Including 166.7 167.1 0.4 7.9
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And 207.9 220.5 12.6 3.6
--------------------------------------------------------------------
Including 209.4 210.6 1.2 5.9
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Including 215.1 218.1 3.0 7.7
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06PMD427 Suluk 138.2 302.5 164.2 3.2
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Including 138.2 139.3 1.1 4.5
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Including 148.0 149.8 1.8 7.0
--------------------------------------------------------------------
Including 158.5 210.6 52.1 3.3
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Including 161.5 164.0 2.5 8.0
--------------------------------------------------------------------
Including 170.0 175.8 5.8 7.3
--------------------------------------------------------------------
Including 180.3 182.7 2.4 5.7
--------------------------------------------------------------------
Including 187.8 189.3 1.5 5.1
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Including 250.0 302.5 52.5 6.0
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Including 250.7 252.2 1.5 5.7
--------------------------------------------------------------------
Including 255.2 260.7 5.5 5.4
--------------------------------------------------------------------
Including 272.6 279.8 7.2 7.6
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Including 282.8 290.9 8.1 17.4
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Including 297.4 302.5 5.1 4.0
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Including 298.7 299.5 0.8 14.6
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06PMD428 Suluk 50.5 88.8 38.3 9.1
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Including 50.5 71.1 20.6 12.8
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Including 73.5 77.2 3.7 13.5
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Including 73.5 75.0 1.5 29.2
--------------------------------------------------------------------
Including 85.1 88.8 3.7 8.5
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Including 85.1 88.0 2.9 10.1
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And 102.0 106.5 4.5 6.4
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Including 102.0 103.9 1.9 12.2
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And 166.7 168.2 1.5 4.2
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And 299.0 300.0 1.0 3.9
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06PMD429 Suluk 98.0 99.5 1.5 53.1
--------------------------------------------------------------------
And 218.2 228.7 10.5 2.1
--------------------------------------------------------------------
Including 221.2 225.7 4.5 3.8
--------------------------------------------------------------------
And 234.7 237.4 2.8 6.2
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And 250.9 264.5 13.6 4.7
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Including 253.0 260.3 7.3 7.7
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And 297.2 298.7 1.5 6.6
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And 334.3 337.3 3.0 2.6
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And 346.9 348.0 1.1 3.0
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06PSD115A South Suluk 107.8 110.2 2.4 15.4
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Including 107.8 109.3 1.5 23.0
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And 143.8 144.9 1.1 4.1
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And 382.6 383.7 1.1 2.3
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And 393.3 398.2 4.9 2.7
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Including 395.8 397.3 1.5 5.7
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06PSD116 South Suluk 88.4 92.9 4.5 2.9
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And 143.8 144.9 1.1 4.1
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And 382.6 383.7 1.1 2.3
--------------------------------------------------------------------
And 393.3 398.2 4.9 2.7
--------------------------------------------------------------------
Including 395.8 397.3 1.5 5.7
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06PSD117 South Suluk 40.5 43.4 2.9 2.0
--------------------------------------------------------------------
Including 40.5 41.0 0.5 7.0
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And 47.8 48.2 0.4 3.4
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And 129.4 129.7 0.3 196.5
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And 143.5 147.0 3.5 2.3
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Including 146.0 147.0 1.0 5.9
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06PSD119 South Fence No Significant Assays
--------------------------------------------------------------------
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06PSD120 South Fence 230.6 233.0 2.4 5.5
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Including 230.6 232.0 1.4 8.3
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And 255.5 257.0 1.5 3.9
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06PSD121 South Fence No Significant Assays
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06PSD122 South Fence No Significant Assays
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06PSD123 South Suluk 380.0 380.9 0.9 13.1
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449.0 449.3 0.3 4.3
--------------------------------------------------------------------
And 452.5 458.2 5.7 1.5
--------------------------------------------------------------------
And 452.5 452.9 0.4 8.1
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06PSD124 South Suluk No Significant Assays
--------------------------------------------------------------------
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06PSD125 197.0 199.4 2.4 2.3
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Contact:
Contacts:
Miramar Mining Corporation
Anthony P. Walsh
President & CEO
(604) 985-2572 or Toll Free: 1-800-663-8780
(604) 980-0731 (FAX)
info@miramarmining.com
http://www.miramarmining.com
--------------------------------------------------------------------------------
Source: Miramar Mining Corporation
Chariot Provides Update on Strategy to Fast-Track Mina Justa Project
Monday June 19, 9:09 am ET
TORONTO, ONTARIO--(CCNMatthews - June 19, 2006) - Chariot Resources Limited ("Chariot") (TSX:CHD - News) is pleased to announce its strategy to accelerate development of the Mina Justa project and to initiate an exploration program on prospective targets surrounding the project area. Mina Justa is located at the company's 70% owned Marcona Copper Project in Peru.
Project Financing Program Initiated: The first phase of the financing exercise for the Mina Justa project has been initiated by Chariot's 70% owned Peruvian subsidiary, Marcobre S.A.C., under the direction of Mr. Brent Cochrane. Prior to accepting this assignment, Mr. Cochrane was previously the CFO of Compania Minera Antamina S.A. Mr. Cochrane also spent 21 years at Rio Algom Limited and during that time was involved with the project financing for three large copper mines in South America. It is expected that a preliminary information memorandum and term sheet for the Mina Justa project will be available for marketing to potential lenders prior to completion of the Feasibility Study.
Environmental Impact Study Initiated: The preparation of the Environmental/Social Impact Assessment ("ESIA") has been awarded to Vector (Peru). The ESIA process was formally initiated at a public meeting in Tupac Amaru, a suburb of the community of San Juan de Marcona, on May 8th 2006 under the auspices of the Peruvian Ministry of Mines. An ESIA working group has been established with representatives from local sectors including, health, education, environment, fisheries and the municipality. Collection of base line information and archeological assessments have started. The ESIA will be completed to Peruvian and World Bank standards.
Request For Tenders For Feasibility Study: A request for tenders for the Mina Justa Feasibility Study has been issued. It is expected that preliminary proposals will be submitted by June 30, 2006 following which negotiations will be initiated with a short-list of suitable engineering companies and final selection is expected to be made by mid-July.
In regards to other elements of the Feasibility Study, Chariot is pleased to announce that:
Drilling Extended: The previously announced 34,000 metre drilling program at Mina Justa has been extended by an additional 12,500 metres. A large proportion of this extended program has been planned to follow-up the encouraging results encountered in the initial drilling campaign. It is expected that this 12,500 metre drilling program will be completed by the end of June 2006.
New Resource Update: Marcobre SAC is currently working with independent consultant, Snowden Mining Industry Consultants Inc. and other advisors in updating the October 2005 resource model. The new resource model will incorporate the data obtained from the 2006 drilling campaign, new geological information and will be the basis for the compilation of a new resource estimate. This new resource estimate will be incorporated into the Feasibility Study.
Geotechnical Tenders: Proposals for independent geotechnical evaluations and studies have been received and are currently under review. It is expected that a tender will be awarded before the end of the month. The results of these studies, which will include laboratory evaluation of drill core, will be incorporated into the Feasibility Study.
Exploration Permit Approved: Peruvian regulatory authorities have recently approved a category C permit for exploration activities on land surrounding the Mina Justa project. Initially, the exploration activities will consist of geological mapping and sampling and geophysical surveys at several of the key target areas previously identified by Rio Tinto. It is expected that exploration drilling will be initiated after the geological and geophysical information has been evaluated.
On May 3, 2006 Chariot released highlights of the Scoping Study of the Mina Justa project. The key financial performance indicators for the Mina Justa project are:
Internal Rate of Return 28 %
Net Present Value $ 364 million
Capital Payback 4.6 years
Cumulative Net Cash Flow $ 892 million
Initial Capital $ 236 million
The Net Present Value of the Mina Justa project has been calculated from a 100% equity, pre-tax cash-flow analysis using a copper price of $1.20/lb and a discount rate of 8%. Other prices used are silver at $4.50/oz and magnetite at $10.50/t concentrate.
On June 7, 2006 the Board of Directors approved the Scoping Study as the basis upon which to initiate a strategy to accelerate development of the Mina Justa project. On June 16, 2006 the company filed a 43-101 report on SEDAR that incorporates the details of the Scoping Study.
Chariot Resources Limited (TSX:CHD - News) is developing its 70% owned Marcona Copper Project in Peru. With exceptional infrastructure, a significant resource and strong financial and commercial partners, Chariot's Marcona Copper Project is scheduled to be a mid-tier copper producer by 2009.
Additional details about Chariot can be viewed at the Company's website, www.chariotresources.com.
CHARIOT RESOURCES LIMITED.
Alex Black
Chairman
Goldcorp Receives More than US$450 Million from Early Warrant Exercises
Monday June 12, 9:00 am ET
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Jun 12, 2006 -- Goldcorp Inc. (TSX:G.TO - News)(NYSE:GG - News) is pleased to announce that an overwhelming majority of its five series of publicly traded warrants have been exercised for common shares and new warrants in connection with the proposal made to warrantholders for the early exercise of their warrants. The following table sets out the percentage of warrants of each series exercised early:
Percentage of Warrants
Series of Warrants Exercised Early
------------------ ----------------------
First Warrants 99%
Series A Warrants 99%
Series B Warrants 92%
Series C Warrants 94%
U.S. Dollar Warrants 100%
Goldcorp has received more than US$450 million in connection with the early exercise of warrants. These proceeds will be used to repay credit facilities drawn down to fund the previously completed acquisition of certain assets of Placer Dome Inc. from Barrick Gold Corporation.
Since more than two-thirds of each series of warrants have been exercised, any warrants that have not been exercised will be automatically exchanged for a lesser number of common shares and new warrants based on the fractions set forth in the table below:
Underlying Common
Shares or Fraction of
Fraction thereof a New Warrant
to be Received to be Received
on Automatic on Automatic
Exchange of Exchange of
Series of Warrants each Warrant each Warrant
------------------ ----------------- ----------------
First Warrants 1.425 0.220
Series A Warrants 0.196 0.005
Series B Warrants 0.148 0.040
Series C Warrants 0.196 0.005
U.S. Dollar Warrants 1.170 0.160
ADVERTISEMENT
This exchange will be made pursuant to the terms of the respective warrant indentures which govern the warrants and no further action of those warrantholders will be required, including payment of the respective warrant exercise price thereof or any other additional consideration.
Each whole new warrant issued by Goldcorp entitles the holder to purchase one common share of Goldcorp at an exercise price of Cdn$45.75 at any time before 5:00 p.m. (Vancouver time) on June 9, 2011. The new warrants will begin trading on the Toronto Stock Exchange and the New York Stock Exchange at the open on June 12, 2006 under the symbols G.WT.G and GGWS, respectively.
The First Warrants, Series A Warrants, Series B Warrants, Series C Warrants and U.S. Dollar Warrants were de-listed from the Toronto Stock Exchange effective at the close on June 9, 2006 and the Series A Warrants and Series C Warrants were de-listed from the New York Stock Exchange effective at the close on June 9, 2006.
Ian Telfer, President and Chief Executive Officer, commented on the warrant transaction stating, "This warrant transaction has been a resounding success as evidenced by an average of 97% across all five series of warrants being exercised. It simplifies Goldcorp's capital structure and strengthens its financial position. As a result of this transaction, Goldcorp's lines of credit outstanding will be reduced from US$1.3 billion to US$850 million."
A copy of the final short form prospectus dated May 5, 2006 relating to the warrant transaction can be found at www.sedar.com as well as on Goldcorp's website at www.goldcorp.com.
BMO Nesbitt Burns Inc. and GMP Securities L.P. acted as financial advisors to Goldcorp with respect to the transaction.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
Goldcorp is the world's lowest cost multi-million ounce gold producer. Annualized gold production in 2006 is expected to be approximately 2 million ounces at a cash cost of approximately US$125 per ounce and Goldcorp does not hedge its gold production.
Cautionary Note Regarding Forward-Looking Statements
This press release contains "forward-looking statements", within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation, concerning the business, operations and financial performance and condition of each of Goldcorp Inc. Forward-looking statements include, but are not limited to, statements with respect to the future price of gold, silver and copper, the estimation of mineral reserves and resources, the realization of mineral reserve estimates, the timing and amount of estimated future production, costs of production, capital expenditures, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, currency exchange rate fluctuations, requirements for additional capital, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans",
"expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Goldcorp and Virginia, respectively, to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the integration of acquisitions; risks related to international operations; risks related to joint venture operations; actual results of current exploration activities; actual results of current reclamation activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of gold, silver and copper; possible variations in ore reserves, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of development or construction activities, as well as those factors discussed in the section entitled "Description of the Business - Risk Factors" in Goldcorp's Annual Information Form for the year ended December 31, 2005, available on www.sedar.com, and Form 40-F for the year ended December 31, 2005 on file with the United States Securities and Exchange Commission in Washington, D.C. Although Goldcorp has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Goldcorp does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.
Contact:
Contacts:
Goldcorp Inc.
Melanie Pilon
Director, Investor Relations
(604) 696-3024
(604) 696-3001 (FAX)
info@goldcorp.com
http://www.goldcorp.com
--------------------------------------------------------------------------------
Source: Goldcorp Inc.
The Next "It" Product
By John Rubino
07 Jun 2006 at 10:32 AM EDT
MOSCOW, Idaho (DollarColapse.com) -- While precious metals were getting whacked again yesterday and arguments were raging about whether this is a healthy correction or the end of the run (see the mainstream’s take in Financial Times), the Wall Street Journal gave silver investors a reason to stop worrying and start buying.
Continued in following link:
http://www.resourceinvestor.com/pebble.asp?relid=20437
sumisu
Chariot Announces Cu Drill Intercepts of 92 Metres at 2.27%, 74 Metres at 2.18%, 50 Metres at 1.72% and 46 Metres at 2.51%
Monday June 5, 9:17 am ET
TORONTO, ONTARIO--(CCNMatthews - June 5, 2006) - Chariot Resources Limited ("Chariot") (TSX:CHD - News) is pleased to announce further drill results from its 2006 drilling campaign at the Marcona Copper Project. These results are from two zones that lie within the ultimate pit boundary of the Mina Justa Main Pit as defined in the Scoping Study recently completed by independent consulting engineers, GRD Minproc. Highlights from the Scoping Study were released on May 3, 2006.
HG Sulphide zone: This zone has both copper oxide mineralization and copper sulphide mineralization with both types often occurring in the same drill hole. The most recent drill results from the HG Sulphide zone where released on April 12, 2006.
Notable highlights at the HG Sulphide zone are (all results are copper sulphide mineralization):
- MJV-06-112 74 metres at 2.18% Cu (250 to 324 m), including
18 metres at 3.21% Cu (298 to 316 m) - MJV-06-132 92 metres at 2.27% Cu (202 to 294 m), including
22 metres at 5.19% Cu (254 to 276 m) - MJV-06-134 22 metres at 2.98% Cu (254 to 276 m), including
18 metres at 3.44% Cu (256 to 274 m) - MJV-06-135 50 metres at 1.72% Cu (204 to 254 m), including
6 metres at 3.82% Cu (212 to 218 m), and
32 metres at 0.93% Cu (256 to 288 m), including
4 metres at 2.15% Cu (260 to 264 m) - MJV-06-136 44 metres at 1.48% Cu (204 to 248 m), including
6 metres at 2.73% Cu (220 to 226 m), and
6 metres at 2.48% Cu (232 to 238 m) - MJV-06-139 18 metres at 1.17% Cu (280 to 298 m), and
46 metres at 2.51% Cu (330 to 376 m), including
10 metres at 5.00% Cu (332 to 342 m) - MJV-06-144 36 metres at 1.80% Cu (180 to 216 m), including
6 metres at 2.27% Cu (200 to 206 m) - MJV-06-149 44 metres at 0.93% Cu (206 to 250 m), including
6 metres at 2.09% Cu (220 to 226 m)
Northern Oxide zone: This zone comprises copper oxide mineralization from surface to a depth of approximately 200 metres. This zone is also the location for the proposed starter pit operation of the Mina Justa project. The most recent drill results from the Northern Oxide zone were released on March 22, 2006.
Notable highlights at the Northern oxide zone are (all results are copper oxide mineralization):
- MJV-06-099 18 metres at 1.05% Cu (34 to 52 m), including
8 metres at 1.81% Cu (42 to 50 m); and
26 metres at 1.29% Cu (84 to 110 m), including
10 metres at 2.56% Cu (90 to 100 m) - MJV-06-151 40 metres at 1.47% Cu (78 to 118 m), including
16 metres at 2.38% Cu (88 to 104 m); and
62 metres at 1.35% Cu (122 to 184 m), including
18 metres at 2.56% Cu (164 to 182 m) - MJV-06-152 28 metres at 0.84% Cu (122 to 150 m)
All intersections were determined using a rolling 0.25% Cu cut-off and up to 2 metres of internal waste. High-grade intersections in copper oxide mineralization were calculated using a rolling 1% Cu cut-off and up to 2 metres of internal waste. Higher-grade intersections in copper sulphide mineralization were determined using a rolling 2% Cu cut-off. All intercepts are down-hole length and intersection true widths have not been calculated.
Sampling procedures for the current drilling program are the same as previously reported and in summary: All RC chips are logged at the Marcona project site. Holes are sampled in their entirety in two metre runs and split at the drill site. A 1/8 split or approximately 5 kilograms of a two metre sample is submitted to the on-site SGS Lakefield Research ("SGS") preparation facility where samples are crushed to 95% passing 10 mesh and riffle split from which a 250 gram sub-sample is taken. The sub-sample is submitted to SGS, in Lima, for analysis. The coarse sample prep reject is bagged and stored on site and following analysis the analytical pulp sample is returned to Chariot for on-site storage.
All samples are analyzed for copper (Cu) using sequential leach resulting in four Cu analyses per sample (Cu total, Cu soluble in sulphuric acid, Cu soluble in sodium cyanide and a Cu residual). Gold is sampled using a 30 gram Fire Assay with an AA finish. Sulphide samples are submitted for 38 element ICP analysis with aqua-regia digest. Quality control procedures include insertion of certified project standards at the drill site (1 in 30), field duplicate samples (1 in 30), laboratory duplicates (1 in 30) and reagent blanks and reference material (1 in 30).
Data contained in this news release was validated and intersections calculated by Robert William Baxter, BSc. Hons. App. Geology, Director, Executive VP, Chariot Resources Limited, the designated Qualified Person as defined in National Instrument 43-101,
Chariot Resources Limited (TSX:CHD - News) is developing its 70% owned Marcona Copper Project in Peru. With exceptional infrastructure, a significant resource and strong financial and commercial partners, Chariot's Marcona Copper Project is scheduled to be a mid-tier copper producer by 2009.
Additional details about Chariot can be viewed at the Company's website, www.chariotresources.com.
CHARIOT RESOURCES LIMITED.
Alex Black
Chairman
Contact:
Toronto, Canada Office
Chariot Resources Limited
Alex Black - Chairman
Office: +1 (416) 363-4554
Cell Phone: +1 (647) 287-4980
Toronto, Canada Office
Chariot Resources Limited
Ulli Rath - President & CEO
Office: +1 (416 ) 363-4554
Cell phone: 1 (416) 270-4481
Lima, Peru Office
Chariot Resources Limited
Bob Baxter - Director
Office: +51 - 1 - 617-1313
Cell Phone: +51 - 1 - 9790-3000
www.chariotresources.com
--------------------------------------------------------------------------------
Source: Chariot Resources Limited
Financial Adviser,
My first silver stock was CDE. I also got into SLW. Do you own or track the latter?
TIA,
sumisu
BUDDIE,
Will you be in attendance this year?
(lol)
sumisu
Yamana Hedges 90 Million Pounds of Copper Production
Wednesday May 24, 5:41 pm ET
TORONTO, ONTARIO--(MARKET WIRE)--May 24, 2006 -- Yamana Gold Inc. ("Yamana") (TSX:YRI.TO - News)(AMEX:AUY - News)(AIM: YAU) is pleased to announce that it has entered into a conventional hedging program relating to the forward sale of 90 million pounds of its 2008 Chapada copper production at an average price of $2.75 per pound. The Chapada copper-gold mine is scheduled for completion by late 2006 and the feasibility study for this Brazil-based mine suggests a two-year pay back at a copper price of $1.00 per pound. This hedging program greatly maximizes value and return for shareholders by accelerating that payback to about one year.
The additional benefits of this program include the following:
- Includes long call options at an average strike price of approximately $3.25 per pound of copper which provides further upside on the hedged production in the event that copper prices exceed the call strike price
- Unhedged 2008 copper production of approximately 90 million pounds continues to have full exposure to the copper price
- Better positions the Company and Chapada as a significant gold producer as the copper is monetized into cash
- Reduces projected cash costs in 2008 as compared to recent guidance estimates
"Yamana is an intermediate gold producer and we have consistently said that we would monetize copper, which is a secondary metal we will produce, and maximize value for our shareholders," said Peter Marrone, President and Chief Executive Officer of Yamana. "This copper hedging program ensures revenue from copper produced at the Chapada mine that is more than 2.5 times higher than levels assumed in the feasibility study, and will result in a payback of approximately one year to our shareholders. Further, we will be ensuring a meaningfully lower cash cost per ounce of gold production. Forecast cash costs for our planned 800,000 ounces of gold production in 2008 are now at less than $35 per ounce of gold net of copper by-product credits. This is approximately $80 per ounce lower than our previous guidance estimates, and excludes the benefits of potentially higher copper prices on our unhedged production and on the hedged production above the call strike price. Additionally, as the copper is monetized Yamana is ensured increased cash flow availability for the development and acquisition of other gold projects."
Chapada is now approximately 75% completed and on track to begin operations at the end of this year. Gold production from Chapada is expected to be approximately 1.3 million ounces of gold over its mine life with 700,000 ounces of gold of that total in the first five years and 365,000 ounces of gold in the first two years alone. Total copper production over the 19 year mine life at Chapada is expected to be two billion pounds of copper.
About Yamana
Yamana is a Canadian gold producer with significant gold production, gold and copper-gold development stage properties, exploration properties, and land positions in Brazil and Central America. Yamana expects to produce gold at intermediate company production levels in 2006 in addition to significant copper production by 2007. Company management plans to continue to build on this base through the advancement of its exploration properties and by targeting other gold consolidation opportunities in Brazil and elsewhere in Latin America.
Cautionary GAAP Statements
The economic hedges do not meet the requirements for hedge accounting under current generally accepted accounting principles, however, Yamana has concluded that the above mentioned financial instruments provide an effective means to manage metal risk price and enable business planning with greater certainty. As accounting rules preclude Yamana from reflecting the economic substance of these transactions, market-to-market values on these financial instruments will be recognized period to period. As such, the recognition of unrealized gains and losses on the fair value of financial instruments will cause net earnings to fluctuate period to period.
Cautionary Statements
This news release contains "forward-looking statements", within the meaning of the United States Private Securities Litigation Reform Act of 1995 and similar Canadian legislation, concerning the business, operations and financial performance and condition of each of Yamana. Forward-looking statements include, but are not limited to, statements with respect to estimated production, synergies and financial impact of acquisitions and the development potential of Yamana's properties; the future price of gold and copper; the estimation of mineral reserves and resources; the realization of mineral reserve estimates; the timing and amount of estimated future production; costs of production; capital expenditures; success of exploration activities; permitting time lines and permitting, mining or processing issues; currency exchange rate fluctuations; government regulation of mining operations; environmental risks; unanticipated reclamation expenses; title disputes or claims; and limitations on insurance coverage. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved".
Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made, and they are subject to known and un known risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Yamana to be materially different from those expressed or implied by such forward-looking statements, including but not limited to risks related to: unexpected events during construction, expansion and start-up; variations in ore grade, tones mined, crushed or milled; variations in relative amounts of refractory, non-refractory and transition ores; delay or failure to receive board or government approvals; timing and availability of external financing on acceptable terms; the businesses of Yamana and acquisitions not being integrated successfully or such integration proving more difficult, time consuming or costly than expected; not realizing on the anticipated benefits from the acquisitions or not realizing on such anticipated benefits within the expected time frame; risks related to international operations; actual results of current exploration activities; actual results of current reclamation activities; conclusions of economic valuations; changes in project parameters as plans continue to be refined; future prices of gold and copper; possible variations in ore reserves, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; delays in the completion of development or construction activities, as well as those factors discussed in or referred to in the current annual Management's Discussion and Analysis and current Annual Information Form of Yamana filed with the securities regulatory authorities in Canada and available at www.sedar.com, and Yamana's Form 40-F filed with the United States Securities and Exchange Commission. Although management of Yamana has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Yamana does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.
Contact:
Contacts:
Yamana Gold Inc.
Peter Marrone
President and Chief Executive Officer
+1 (416) 815-0220
Yamana Gold Inc.
Leslie Powers
Director, Investor and Public Relations
+1 (416) 815-0220
--------------------------------------------------------------------------------
Source: Yamana Gold Inc.
Yamana Hedges 90 Million Pounds of Copper Production
Wednesday May 24, 5:41 pm ET
TORONTO, ONTARIO--(MARKET WIRE)--May 24, 2006 -- Yamana Gold Inc. ("Yamana") (TSX:YRI.TO - News)(AMEX:AUY - News)(AIM: YAU) is pleased to announce that it has entered into a conventional hedging program relating to the forward sale of 90 million pounds of its 2008 Chapada copper production at an average price of $2.75 per pound. The Chapada copper-gold mine is scheduled for completion by late 2006 and the feasibility study for this Brazil-based mine suggests a two-year pay back at a copper price of $1.00 per pound. This hedging program greatly maximizes value and return for shareholders by accelerating that payback to about one year.
The additional benefits of this program include the following:
- Includes long call options at an average strike price of approximately $3.25 per pound of copper which provides further upside on the hedged production in the event that copper prices exceed the call strike price
- Unhedged 2008 copper production of approximately 90 million pounds continues to have full exposure to the copper price
- Better positions the Company and Chapada as a significant gold producer as the copper is monetized into cash
- Reduces projected cash costs in 2008 as compared to recent guidance estimates
"Yamana is an intermediate gold producer and we have consistently said that we would monetize copper, which is a secondary metal we will produce, and maximize value for our shareholders," said Peter Marrone, President and Chief Executive Officer of Yamana. "This copper hedging program ensures revenue from copper produced at the Chapada mine that is more than 2.5 times higher than levels assumed in the feasibility study, and will result in a payback of approximately one year to our shareholders. Further, we will be ensuring a meaningfully lower cash cost per ounce of gold production. Forecast cash costs for our planned 800,000 ounces of gold production in 2008 are now at less than $35 per ounce of gold net of copper by-product credits. This is approximately $80 per ounce lower than our previous guidance estimates, and excludes the benefits of potentially higher copper prices on our unhedged production and on the hedged production above the call strike price. Additionally, as the copper is monetized Yamana is ensured increased cash flow availability for the development and acquisition of other gold projects."
Chapada is now approximately 75% completed and on track to begin operations at the end of this year. Gold production from Chapada is expected to be approximately 1.3 million ounces of gold over its mine life with 700,000 ounces of gold of that total in the first five years and 365,000 ounces of gold in the first two years alone. Total copper production over the 19 year mine life at Chapada is expected to be two billion pounds of copper.
About Yamana
Yamana is a Canadian gold producer with significant gold production, gold and copper-gold development stage properties, exploration properties, and land positions in Brazil and Central America. Yamana expects to produce gold at intermediate company production levels in 2006 in addition to significant copper production by 2007. Company management plans to continue to build on this base through the advancement of its exploration properties and by targeting other gold consolidation opportunities in Brazil and elsewhere in Latin America.
Cautionary GAAP Statements
The economic hedges do not meet the requirements for hedge accounting under current generally accepted accounting principles, however, Yamana has concluded that the above mentioned financial instruments provide an effective means to manage metal risk price and enable business planning with greater certainty. As accounting rules preclude Yamana from reflecting the economic substance of these transactions, market-to-market values on these financial instruments will be recognized period to period. As such, the recognition of unrealized gains and losses on the fair value of financial instruments will cause net earnings to fluctuate period to period.
Cautionary Statements
This news release contains "forward-looking statements", within the meaning of the United States Private Securities Litigation Reform Act of 1995 and similar Canadian legislation, concerning the business, operations and financial performance and condition of each of Yamana. Forward-looking statements include, but are not limited to, statements with respect to estimated production, synergies and financial impact of acquisitions and the development potential of Yamana's properties; the future price of gold and copper; the estimation of mineral reserves and resources; the realization of mineral reserve estimates; the timing and amount of estimated future production; costs of production; capital expenditures; success of exploration activities; permitting time lines and permitting, mining or processing issues; currency exchange rate fluctuations; government regulation of mining operations; environmental risks; unanticipated reclamation expenses; title disputes or claims; and limitations on insurance coverage. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved".
Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made, and they are subject to known and un known risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Yamana to be materially different from those expressed or implied by such forward-looking statements, including but not limited to risks related to: unexpected events during construction, expansion and start-up; variations in ore grade, tones mined, crushed or milled; variations in relative amounts of refractory, non-refractory and transition ores; delay or failure to receive board or government approvals; timing and availability of external financing on acceptable terms; the businesses of Yamana and acquisitions not being integrated successfully or such integration proving more difficult, time consuming or costly than expected; not realizing on the anticipated benefits from the acquisitions or not realizing on such anticipated benefits within the expected time frame; risks related to international operations; actual results of current exploration activities; actual results of current reclamation activities; conclusions of economic valuations; changes in project parameters as plans continue to be refined; future prices of gold and copper; possible variations in ore reserves, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; delays in the completion of development or construction activities, as well as those factors discussed in or referred to in the current annual Management's Discussion and Analysis and current Annual Information Form of Yamana filed with the securities regulatory authorities in Canada and available at www.sedar.com, and Yamana's Form 40-F filed with the United States Securities and Exchange Commission. Although management of Yamana has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Yamana does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.
Contact:
Contacts:
Yamana Gold Inc.
Peter Marrone
President and Chief Executive Officer
+1 (416) 815-0220
Yamana Gold Inc.
Leslie Powers
Director, Investor and Public Relations
+1 (416) 815-0220
--------------------------------------------------------------------------------
Source: Yamana Gold Inc.
PPL Corporation Joins FutureGen Industrial Alliance
Tuesday May 23, 2:00 pm ET
WASHINGTON, May 23 /PRNewswire/ -- The FutureGen Industrial Alliance today announced that power generator PPL Corporation has joined the non-profit consortium of global electric utilities and coal companies working with the U.S. Department of Energy to site and develop FutureGen, the world's cleanest coal-fueled power plant.
PPL becomes the tenth member of the Alliance, which is facilitating design, construction and operation of the first "zero-emissions" coal-fueled power plant and hydrogen production facility with integrated carbon capture and sequestration.
"PPL's participation demonstrates continued interest among U.S. and international energy companies to work toward developing solutions to meet long-term energy challenges through clean energy from coal," said FutureGen Alliance Chairman Dr. Charles Goodman, Senior Vice President of Generation Policy for Southern Company.
PPL Corporation (NYSE: PPL - News), headquartered in Allentown, Pa., controls about 12,000 megawatts of generating capacity in the United States, sells energy in key U.S. markets and delivers electricity to more than 5 million customers in Pennsylvania, the United Kingdom and Latin America.
"The Alliance companies are forward-thinking coal and energy companies that are using 21st Century technologies to provide low-cost energy and address climate change," said William F. Hecht, PPL's Chairman and Chief Executive Officer. "We're pleased to join with such a group to supply the nation's growing demand for energy in an environmentally responsible way."
The Alliance has issued a siting proposal and received 12 project bids from seven states to host FutureGen. The Alliance will decide upon a short list of candidate sites by late summer. The Department of Energy will review the candidate sites in accordance with the National Environmental Policy Act prior to the Alliance's selection of a final site by late-summer 2007.
The FutureGen Alliance represents some of the world's largest coal companies and electric utilities including: American Electric Power, Anglo American, BHP Billiton, the China Huaneng Group, CONSOL Energy Inc., Foundation Coal, Rio Tinto Energy America, Peabody Energy and Southern Company. The Alliance is partnering with the U.S. Department of Energy to design and build the facility.
These companies provide energy to tens of millions of residential, business, and industrial customers in Asia, Australia, Canada, Europe, the People's Republic of China, South Africa and the United States, among other regions.
For more information visit http://FutureGenAlliance.org .
MEDIA CONTACTS
Fredrick D. Palmer
FutureGen Industrial Alliance
External Relations Committee Chairman
(314) 342-7624
Paul Wirth
Media Relations
PPL Corporation
(610) 774-5532
Songzai International Holding Group in Discussions to Acquire Additional Coal Mines
Thursday May 11, 9:00 am ET
WALNUT, CA--(MARKET WIRE)--May 11, 2006 -- Songzai International Holding Group, Inc. (OTC BB:SGZI.OB - News) today announced that it is in discussions toward the acquisition of two coal mining firms geographically central to Songzai's TongGong Coal Mine.
The two companies were selected by Songzai's senior management who are well-known experts in the industry. Acquisition of either one of these firms will add at least 19.5 million tonnes of coal to Songzai's reserves, as well as additional annual operational capacity of 450,000 tonnes.
"Our TongGong Mine achieved successful milestones in 2005 such as increases of nearly 400% in both annual revenue and net income," Songzai's President, Mr. Hong Jun Li comments. He added, "We are confident that we can aggressively extend our success by adding quality coal mines to our existing portfolio."
Songzai will provide subsequent updates on its expansion progress.
About Songzai International Holding Group, Inc.
Based in Harbin, China, and Walnut, California, Songzai focuses on the development of coal mining projects in Northern China and Inner Mongolia. The company is currently producing coal from its TongGong Coal Mine located near Heihe City in Northern China. The mine's coal, with estimated in-place resources of over 3 million tons and proved and probable reserves totaling more than 1.5 million tons, is being targeted for buyers within the power plant, cement factory, and home-use markets. China is the world's largest producer and largest coal consumer.
Except for statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which Songzai International Holding Group, Inc. has little or no control.
ON BEHALF OF THE BOARD
Songzai International Holding Group, Inc.
Hong Jun Li
President
Contact:
Contact:
StoneRidge Capital
480-240-1700
William A. Young
Director of Investor Relations
byoung@stoneridgecap.com
--------------------------------------------------------------------------------
Source: Songzai International Holding Group, Inc
frenchee,
Last week I added a 1,000 shares each of CDE and SLW.
sumisu
Buddie,
Rest assured that any sales by the Bank of England would be scooped up by China and India, amongst others. However, I think last week was a correction and participants were panicked into selling.
There is a story that the Bank of England once pre-announced the sale of gold driving the gold price down and then it would sell. I think this happened when the price of gold was $250 an ounce and it was considered a relic.
Times (and market participants)certainly have changed. This is just the beginning regardless of last week's selloff. We will be much higher by year-end, imo.
sumisu
americano,
Hoping for a reversal this week for GG; price is becoming more attractive again.
sumisu
Myself,
Thanks for the charts; this company will someday have a big future,imo.
sumisu
UPDATE ON THE SLW
CHART with 50-day and 100-day moving averages.
http://tinyurl.com/owgux
sumisu
The Declining Dollar Erodes Personal Savings
http://www.house.gov/paul/tst/tst2006/tst051506.htm
From Ron Paul's website
sumisu
Another purchase:
Bought another 500 shares of SLW at $9.15 earlier this morning.
sumisu
West Hawk Announces Joint Venture with Lu'An Mining Group
Thursday May 11, 3:05 am ET
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--May 11, 2006 -- West Hawk Development Corp. ("West Hawk") (TSX VENTURE:WHD.V - News)(FWB:H5N) is pleased to announce that it has entered into a Memorandum of Understanding (MOU) with Lu'An Mining Group Corporation of Shanxi Province, the Peoples Republic of China.
The intent of the MOU is to form a working relationship between the two companies focusing on the joint development of a coal gasification project in the Shanxi Province of the People's Republic of China. The companies will review certain coal resources owned by the Shanxi Lu'An Mining Group to determine the best resources available for a conventional Integrated Gasification Combined Cycle (IGCC) electrical power plant and a Coal-To-Liquids (CTL) plant (diesel & naphtha).
The companies will also explore the possibility of Underground Coal Gasification (UCG), an underground gasification process, aided by the inherent high pressures of depth enabling the liberation of energy contained within the 95% of the worlds coal resources inaccessible by present day mining technology. Operating commercially in the former Soviet Union at a number of sites for more than 40 years, UCG has also recently been successfully demonstrated in Queensland, Australia.
Shanxi Lu'An Mining Group Corporation, Ltd. is one of the premier enterprises of Shanxi Province and one of the top 500 largest enterprises in China. Its major business includes coal, power generation, coking facilities, and chemical production. The company owns geological reserves totaling 9 billion metric tons of coal and has an annual coal production capacity of 30 million metric tons. Currently, it produces 17 high quality products used by more than 500 customers in China and exported to Japan, Korea and Hong Kong etc.
Shanxi Province is the largest coal producing region in both China and the world, producing 540,000,000 metric tons of coal annually accounting for 25% of China's coal production in 2005. Both Mr. Ren Runhou, Lu'An Coal Mining Group's President and Chairman, and Dr. Hart, West Hawk's President and COO, bring over 60 years of collective experience of coal mining and power generation experience to this collaborative venture. West Hawk's CEO, Chris Verrico stated, "This opportunity brings new dimension to the Company's clean coal gasification to energy business model."
West Hawk would like to thank Zhang Baoshun, Chairman of Standing Committee of the NPC, for the exceptional opportunity presented to West Hawk gaining exposure to the Energy business existing within Shanxi Province. Additionally we would also like to thank Chen Chuanping the Chairman of Taiyuan Iron & Steel Company (TISCO) for the opportunity to meet and discuss potential business synergies for both our companies.
West Hawk Development Corp. is an energy Company that is currently exploring and developing assets for the delivery of clean energy through gasification technologies. The company is currently defining coal resources in Western and Northern Canada.
ON BEHALF OF THE BOARD OF DIRECTORS
Michael Townsend, Chairman of the Board
This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the British Columbia Securities Commission and the United States Securities & Exchange Commission.
The TSX Venture Exchange has not yet reviewed and does not take responsibility for the adequacy or accuracy of the content of this news release.
Contact:
Contacts:
West Hawk Development Corp.
Michael Townsend
Chairman of the Board
(604) 669-9330 or Toll Free: 1-866-669-9377
(604) 669-9335 (FAX)
info@westhawkdevelopment.com
http://www.westhawkdevelopment.