2012 guidance sends Semafo shares down
Montreal-based Semafo’s (SMF-T, OMX-Q) three operating mines in West Africa are expected to produce a total of between 235,000 ounces of gold and 260,000 ounces of gold in 2012, according to company forecasts.
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Giustra shell graduate flops on Guinea iron ore assays
They say for every mine successfully put into production, 1,000 other geological prospects are tested and found lacking. Notwithstanding the small probability of achieving just one success over a life-long career in mining, a small group of…
Kinross tumbles on project delays
Kinross Gold (K-T, KGC-N) fell more than 20% after it said it is reviewing its three major advanced gold projects to improve economics, likely causing months of delay and a goodwill write down of the Tasiast gold project in Mauritania.
Prophecy Coal sets out financials for Mongolian power project
Prophecy Coal (PCY-T) has outlined the feasibility of its plan to unlock value from its Chandgana coal deposit in northern Mongolia by building a 600-megawatt thermal power plant.
Western Australia to expand Esperance port
The Western Australian government’s decision to expand capacity at the Esperance port will benefit companies like Macarthur Minerals (MMS-T, MMSDF-O) and others active in the emerging iron ore sector in the Yilgarn area.
Suppliers news
Finning to buy Caterpillar units
BHP boosts copper resources at Spence
Resources at BHP Billiton’s (BHP-N) Spence copper mine in northern Chile has grown by nearly 700%, following a four-year, US$30-million brownfield exploration program.
Northern Freegold’s first resource for Revenue finds 3.7M gold equivalent oz.
Northern Freegold Resources (NFR-V) has added significantly to the overall resource at its Freegold Mountain project in Yukon thanks to an initial resource on its Revenue deposit.
Credit crunch no problem for Quartermain’s Pretium
Robert Quartermain’s Pretium Resources (PVG-T, PVG-N) has started the new year with a bang, announcing plans on Jan. 19 to raise $18.5-million in flow-through funds at $18.50 a share. The bought-deal financing led by Salman Partners represents…
Iamgold sees capex rising
Iamgold (IMG-T, IAG-N) has reported production of 253,000 attributable gold oz. in the fourth quarter of 2011, the company’s best quarter of the year. Full-year production, including the company’s production from discontinued businesses, was…
Lupaka ups its ownership in Crucero
Lupaka Gold (LPK-T) now indirectly owns 100% of the Crucero gold project in southeastern Peru, after buying the remaining 40% stake of a subsidiary that held the deposit for US$9.2 million in cash and stock.
Quadra FNX ups Victoria resource
Infill drilling at Quadra FNX Mining’s (QUX-T) polymetallic Victoria project in Sudbury, Ont., has increased inferred resource tonnage by 16% and raised by 32%, 26% and 4% its contained nickel, copper and total precious metals, respectively,…