Gold Canyon Closes Bought Deal Private Placement for Gross Proceeds of $10 Million

May 12, 2011 By Leave a Comment

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN

Gold Canyon Resources Inc. is pleased to announce that it has closed its previously announced bought deal private placement through a syndicate of underwriters co-led by Cormark Securities Inc. and Fraser Mackenzie Limited and including GMP Securities L.P., Stonecap Securities Inc. and Casimir Capital Ltd. (the “Underwriters”) of 1,370,000 flow-through shares of Gold Canyon (“FT Shares”) at a price of $3.65 per FT Share and 1,640,000 common shares of Gold Canyon (“Common Shares”) at $3.05 per Common Share for aggregate gross proceeds in the amount of approximately $10 million (the “Offering”). [Read more...]

Filed Under: Mining Investment Tagged With: ,

Earth Dragon Resources Announces New Mineral Exploration Opportunity and Provides Corporate Advisory

May 10, 2011 By Leave a Comment

Earth Dragon Resources, Inc. is pleased to announce a joint venture agreement with Missouri-based OverThrust Mining Corporation, to develop a significant iron ore opportunity in the Province of Quebec, Canada.

The Properties comprise two separate claim blocks, designated “Brown1″ with 23 claims over 1150 hectares, and “Brown2″ with 10 claims over 500 hectares located in the northeastern part of the province, respectively about 13 km and 3 km north of the town of Schefferville, which is approximately 200 km north of Labrador City, NL, 225 km northwest of Churchill Falls, NL, and 500 km north of Sept-Iles, QC. [Read more...]

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Entree Gold to Acquire Remaining Interest in Blackjack Property, Nevada

May 10, 2011 By Leave a Comment

Entrée Gold Inc. has entered into an agreement with Honey Badger Exploration Inc. to acquire Honey Badger’s 49% interest in the Blackjack property, Nevada. Entrée previously acquired a 51% interest in the property from Honey Badger pursuant to an Option Agreement dated July 20, 2009. Blackjack is directly adjacent to the Company’s 100% owned Ann Mason property. Under the purchase and sale agreement (the “Agreement”), Entrée will pay US$650,000 and issue 550,000 common shares to Honey Badger for its 49% interest in the property. [Read more...]

Filed Under: Mining Investment, Mining Market Tagged With: , , ,

Golden Phoenix Joint Venture Partner Scorpio Gold Awards Mining Contract for the Mineral Ridge Gold Deposit, Nevada

May 10, 2011 By Leave a Comment

Golden Phoenix Minerals, Inc. joint venture partner Scorpio Gold announces that a mining contract has been signed with Ledcor CMI Inc. (“Ledcor”) for its Mineral Ridge Gold heap leach project. Ledcor is currently providing contract mining services for both Barrick Gold Corporation and Newmont Mining Corporation in Nevada.

Golden Phoenix currently maintains a thirty percent (30%) interest in the Mineral Ridge Gold Project via its membership interest in Mineral Ridge Gold LLC; the joint venture entity that owns and operates the Mineral Ridge property with Scorpio Gold. [Read more...]

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Macarthur Minerals Builds Up Its Development Team

May 10, 2011 By Leave a Comment

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Macarthur Minerals Limited announces that it is consolidating and expanding its development team with recent new appointments.

The Company plans to commence production of its hematite from its Lake Giles project at a rate of 2 million tonnes per annum beginning late 2012 to early 2013. Production is subject to receiving all necessary governmental and environmental approvals. [Read more...]

Filed Under: Mining Contractors, Mining Investment, News

Framework Agreement Reached for Significant Capacity Expansion of IAMGOLD’s Rosebel Mine

May 10, 2011 By Leave a Comment

IAMGOLD Corporation and The Government of the Republic of Suriname are pleased to announce that a Framework Agreement has been reached to support a substantial capacity expansion of IAMGOLD’s Rosebel Gold Mine in Suriname.

The Framework is centered on IAMGOLD’s increased investment in brownfield and other near plant resource development, infrastructure and energy. Parties agreed to cooperate in the development in these priority areas, specifics of which will be concluded and announced in the near term. [Read more...]

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Kalimantan Gold Closes Private Placement With Freeport

May 8, 2011 By Leave a Comment

Kalimantan Gold Corporation Limited is pleased to announce that it has raised C$350,000 from the issue of 2,500,000 common shares at price of C$0.14 per share to a wholly owned subsidiary of Freeport-McMoRan Exploration Corporation (“Freeport”). The common shares issued are restricted from trading through the TSX Venture Exchange until September 7, 2011. [Read more...]

Filed Under: Mining Investment
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