BGC:TSX.V Brazilian Gold Drilling Corporation, the leading developer of large scale road accessible gold projects in the highly prospective Tapajós region of northern Brazil, reminds the market of the ongoing drill campaign currently underway at its flagship São Jorge project.
The company has been releasing a steady stream of drill results that have shown increasing grades down dip and along strike. Further results are expected to be released this quarter (2012).
Coffey Mining an independent mining consultancy company has issued a positive PEA assessment on São Jorge,where Brazilian Gold is rapidly advancing the development
Shares advanced 10% Tuesday as gold advances close to 1,700$oz. Significant government purchases of gold traded ETF's are helping drive the gold price upwards.
Please visit www.braziliangold.ca for further details.
Tuesday, 17 January 2012
Thursday, 12 January 2012
Brazilian Gold Corp BGC:TSXV low cost large scale open pit Sao Jorge Gold Project well positioned to weather gold price slump
Brazilian Gold Corp BGC:TSXV the fast track developer of the low cost open pit Sao Jorge Gold Project in northern Brazil reminds investors during a recent roadshow held in London, about the strong possibility the gold price may come off as the US economy improves and the US Dollar strengthens. Brazillian Gold's flagship Sao Jorge project will be a low cost large scale open pit operation
where cash production costs are expected to sit between 400 to 600 dollars per ounce. The company is well positioned to weather a downward pressure , gold price market.
where cash production costs are expected to sit between 400 to 600 dollars per ounce. The company is well positioned to weather a downward pressure , gold price market.
Wednesday, 11 January 2012
TAIA Lion Resources "Sierra Leone The Place For Growth in 2012"
TAIA Lion Resources, one of Sierra Leone's leading natural resources development companies, points investors to the recent positive International Monetary Fund (IMF) report on Sierra Leone.
See below the following Extracts
See below the following Extracts
Extractive industries are expected to drive economic activity. Assuming full
implementation of two new iron ore mining projects, economic activity and tax revenue will
increase substantially in the coming years. (Box 1 ) A one-time expansion of real GDP of
about 45 percent is projected for 2012, while exports could increase by a factor of four. To
level the playing field for new mining investment and increase revenue, the fiscal regime as
defined by the Mines and Minerals Act (MMA) of 2009 will be fully applied to future
agreements. The government intends to implement a resource rent tax (structural benchmark
for December 2012) to benefit from upside profitability, and a capital gains tax to safeguard
government revenue in case of sales of lucrative lease agreements in mining and oil
extraction to third parties.
Activity in other sectors is also expanding. Real non-iron ore GDP growth is
expected to increase to 6 percent in 2012 and beyond. Key steps are being taken to strengthen
the business environment: investment in agriculture and food security, basic infrastructure,
electricity generation, and health and education.
URU Metals Positive on Niger Outlook for 2012
URU Metals URU:LSE the london listed uranium exploration company with one of the largest sets of uranium exploration concessions in Niger points investors to the recent International Monetary Fund report on the country where investment in Niger in 2012 will help deliver significant economic gains.With new mines coming online, Niger is set to become the world’s second-biggest uranium producer by 2014. Thanks to those projects as well as a new oil rig, Niger’s economy will grow by more than 14 percent this year.
Oil, Uranium Projects Brighten Medium-term Prospects in Niger
By Clara Mira
IMF African Department
December 19, 2011
Higher natural resource revenues to improve fiscal, external position
Resources earnings should be leveraged into faster growth and poverty reduction
Negotiations with IMF on new program expected to start soon
A new crude oil processing project and rising uranium production are set to boost Niger’s economic growth from next year, the IMF said in its regular review of the West African nation’s economy.
Higher natural resources revenues should also help improve Niger’s fiscal and external position in the medium term.
An integrated oil project that includes extraction and refining of 20,000 barrels per day of crude oil is due to start operations in 2012. A new uranium mine that will make Niger the world’s second-largest uranium producer is scheduled to start production by 2014.
IMF Managing Director Christine Lagarde arrived in Niger during her December 18-22 trip to Africa. Her itinerary included a meeting with President Mahamadou Issoufou and taking part in a cabinet meeting focused on “The Challenges of Economic Development in Niger”. She addressed the National Assembly, and met with representatives of various financial institutions and the private sector.
Mining exports
Niger’s oil and mining exports are projected to show triple growth between 2011 and 2016, boosting government revenue from natural resources. These large projects are expected to improve Niger’s fiscal and external position in the medium term, creating favorable conditions for growth and poverty reduction. Niger’s GDP growth is forecast to soar to 14.1 percent in 2012 from a projected 3.8 percent in 2011.
Niger’s main priority in the period ahead is to leverage the expected scaling up of oil and mining production to accelerate growth and poverty reduction. The IMF review said Niger’s new government has adopted an ambitious development strategy, based on the use of oil and mining revenue to finance public investment in infrastructure, agriculture, health, and education.
IMF missions visiting Niger urged careful management of natural resources, medium-term planning of the public investment program, continued fiscal reform to enhance domestic revenue collection and improve the efficiency of expenditure, and measures to improve the business climate.
Libya crisis effects
Despite its natural resource endowment, Niger remains a low-income country. Its economy remains highly dependent on rain-fed agriculture and vulnerable to external shocks. The country relies substantially on external assistance.
A democratically elected government took office in April 2011, and Niger’s relations with international donors normalized. The crisis in Libya triggered the return of tens of thousands of Nigerien workers, leading to a decline in Niger’s remittances from abroad.
Budget implementation remained on course through August 2011, with revenue exceeding targets and expenditure in line with projections. The 2012 budget is expected to maintain a sound fiscal position while substantially increasing public investment. The impact of rising global food prices on inflation has remained modest thus far.
Niger’s three-year program with the IMF, supported by the Extended Credit Facility, expired in June 2011. Program implementation had been on track initially, but was interrupted by a military coup in February 2010.
Following the recognition of the transitional government in September 2010, the IMF resumed normal engagement with the authorities; but efforts to complete further reviews under the arrangement were constrained by the complex political situation. The new authorities have expressed their interest in negotiating a follow-up program as soon as possible. Negotiations on a new program are expected to start shortly.
Fuel subsidy costs
In 2010, the cost for Niger of subsidizing fuel reached about 1 percent of GDP. These subsidies were not only costly but ill targeted, since they did not benefit the poorest segments of the population. Since June 2011, the government adopted a strategy to gradually eliminate the subsidies, while adopting mitigating measures to protect the urban poor from increases in transportation costs.
The authorities have recently decided to pass part of the benefits of the new oil production to domestic consumers in the form of lower prices at the pump. The extent of the subsidies is, however, limited: the agreed prices are expected to be about 14 to 17 percent below import prices.
Natural resource management
Enhancing transparency in the management of natural resources has been the focus of interest for the authorities and society. As a result, Niger’s 2010 constitution requires the publication of all contracts for the exploration and exploitation of natural resources. Niger is actively engaged in the Extractive Industries Transparency Initiative and was declared in compliance with the standards of the initiative in March 2011.
The state is directly involved as co-shareholder in the main mining and oil projects. This direct exposure implies risks, as the authorities relied on external financing to contribute their share of investment costs in recent projects, in some cases contracting expensive loans and increasing public debt. A debt sustainability analysis concluded that this new borrowing contributed to a rise in Niger’s risks of debt distress from low to moderate.
Natural resource revenues are expected to increase available resources but also expose the country to commodity price volatility. In the medium term, Niger would benefit from adopting a fiscal strategy to confront adverse shocks and stabilize expenditure.
Oil, Uranium Projects Brighten Medium-term Prospects in Niger
By Clara Mira
IMF African Department
December 19, 2011
Higher natural resource revenues to improve fiscal, external position
Resources earnings should be leveraged into faster growth and poverty reduction
Negotiations with IMF on new program expected to start soon
A new crude oil processing project and rising uranium production are set to boost Niger’s economic growth from next year, the IMF said in its regular review of the West African nation’s economy.
Higher natural resources revenues should also help improve Niger’s fiscal and external position in the medium term.
An integrated oil project that includes extraction and refining of 20,000 barrels per day of crude oil is due to start operations in 2012. A new uranium mine that will make Niger the world’s second-largest uranium producer is scheduled to start production by 2014.
IMF Managing Director Christine Lagarde arrived in Niger during her December 18-22 trip to Africa. Her itinerary included a meeting with President Mahamadou Issoufou and taking part in a cabinet meeting focused on “The Challenges of Economic Development in Niger”. She addressed the National Assembly, and met with representatives of various financial institutions and the private sector.
Mining exports
Niger’s oil and mining exports are projected to show triple growth between 2011 and 2016, boosting government revenue from natural resources. These large projects are expected to improve Niger’s fiscal and external position in the medium term, creating favorable conditions for growth and poverty reduction. Niger’s GDP growth is forecast to soar to 14.1 percent in 2012 from a projected 3.8 percent in 2011.
Niger’s main priority in the period ahead is to leverage the expected scaling up of oil and mining production to accelerate growth and poverty reduction. The IMF review said Niger’s new government has adopted an ambitious development strategy, based on the use of oil and mining revenue to finance public investment in infrastructure, agriculture, health, and education.
IMF missions visiting Niger urged careful management of natural resources, medium-term planning of the public investment program, continued fiscal reform to enhance domestic revenue collection and improve the efficiency of expenditure, and measures to improve the business climate.
Libya crisis effects
Despite its natural resource endowment, Niger remains a low-income country. Its economy remains highly dependent on rain-fed agriculture and vulnerable to external shocks. The country relies substantially on external assistance.
A democratically elected government took office in April 2011, and Niger’s relations with international donors normalized. The crisis in Libya triggered the return of tens of thousands of Nigerien workers, leading to a decline in Niger’s remittances from abroad.
Budget implementation remained on course through August 2011, with revenue exceeding targets and expenditure in line with projections. The 2012 budget is expected to maintain a sound fiscal position while substantially increasing public investment. The impact of rising global food prices on inflation has remained modest thus far.
Niger’s three-year program with the IMF, supported by the Extended Credit Facility, expired in June 2011. Program implementation had been on track initially, but was interrupted by a military coup in February 2010.
Following the recognition of the transitional government in September 2010, the IMF resumed normal engagement with the authorities; but efforts to complete further reviews under the arrangement were constrained by the complex political situation. The new authorities have expressed their interest in negotiating a follow-up program as soon as possible. Negotiations on a new program are expected to start shortly.
Fuel subsidy costs
In 2010, the cost for Niger of subsidizing fuel reached about 1 percent of GDP. These subsidies were not only costly but ill targeted, since they did not benefit the poorest segments of the population. Since June 2011, the government adopted a strategy to gradually eliminate the subsidies, while adopting mitigating measures to protect the urban poor from increases in transportation costs.
The authorities have recently decided to pass part of the benefits of the new oil production to domestic consumers in the form of lower prices at the pump. The extent of the subsidies is, however, limited: the agreed prices are expected to be about 14 to 17 percent below import prices.
Natural resource management
Enhancing transparency in the management of natural resources has been the focus of interest for the authorities and society. As a result, Niger’s 2010 constitution requires the publication of all contracts for the exploration and exploitation of natural resources. Niger is actively engaged in the Extractive Industries Transparency Initiative and was declared in compliance with the standards of the initiative in March 2011.
The state is directly involved as co-shareholder in the main mining and oil projects. This direct exposure implies risks, as the authorities relied on external financing to contribute their share of investment costs in recent projects, in some cases contracting expensive loans and increasing public debt. A debt sustainability analysis concluded that this new borrowing contributed to a rise in Niger’s risks of debt distress from low to moderate.
Natural resource revenues are expected to increase available resources but also expose the country to commodity price volatility. In the medium term, Niger would benefit from adopting a fiscal strategy to confront adverse shocks and stabilize expenditure.
Friday, 6 January 2012
URU:LSE URU Metals Drilling Campaign Advances at Irhazer in Niger
URU Metals LSE:URU, the London listed uranium exploration company is today advancing its drilling campaign at its highly prospective Irhazer permit in Niger. The programme is targeting 3,200 metres, with the main object being to verify the extension of the mineralized zone discovered in previous campaigns and to assess its importance. Previous drilling confirmed the presence of a northern extension of mineralisation of uranium at Irhazer and the continued programme is targeting the down lifted compartment. The company is expected to publish results in Q2 2012 latest.
Brazilian Gold Corp BGC:TSX.V Positive Analyst Coverage
BRAZILIAN GOLD CORP BGC : TSXV SHARES ADVANCING
FOLLOWING ENCOURAGING ASSAY RESULTS FROM FLAGSHIP SAO JORGE
By Sara Patterson
Executive Vice President, Windward Global
With January 2012 off to a strong start—at the time of this commentary gold is over US $1,600 and the major indices are firmly in the green—a bullish tone seems to be set for the new year, carrying the upward trend of 2011’s natural resource sector forward. While this tone undoubtedly creates opportunity for active exploration and development companies, an established and sustained momentum is not only preferable but critical. And such momentum was gained or lost long before the ball dropped.
Brazilian Gold Corporation, however, has kept the ball rolling. Its momentum began in early 2011 with the commencement of a drill program at its Sao Jorge project in the Tapajos region of northern Brazil, and carried strongly into late December with the announcement of 10 additional drill holes. Significant intersections include 54 meters grading 1.24 g/t gold; please see the company’s news release dated Dec. 19 2011 for a complete list of assay results. The drill program continues to intersect wide zones of alteration and gold mineralization down dip and along strike of historic drilling, underscoring the project’s potential for ongoing growth and expansion. Further, an induced polarization resistivity high is identified along strike of the deposit to the southeast for 1.5 km, suggesting that additional gold mineralization might be identified in the future.
This encouraging program has critical implications for the project as a whole, as it will be used along with historic drill data in the completion of a new resource estimate by the end of the first quarter of 2012. The ongoing drill results continue to confirm additional intersections at similar thickness and grade as the previously reported resource (Coffey Mining, June 2011), fitting well with the company’s objective of increasing overall potential mine life and production rate with additional resources. In addition to drilling, Brazilian Gold has also initiated metallurgical testwork, geotechnical studies and environmental baseline work to advance Sao Jorge further.
Data compiled at Sao Jorge during 2011 has both contributed to a greater understanding of the deposit’s geology and lent itself to use in upgrading the confidence level and potential size of the next resource estimate.
Coupled with excellent existing infrastructure, including access to paved roads, a skilled workforce, and access to extremely economical power—Sao Jorge can utilize the low-cost hydroelectric energy grid, as opposed to costly diesel-generated power—this comprehensive level of work continues to build the momentum of the project. Key tax incentives in Sao Jorge’s Pará state, including an income tax reduction of nearly 15% for 10 years, underscore the inherent opportunity of the region.
Assay results from the final 13 holes of the 2011 drill program are pending, and Brazilian Gold is currently reviewing the results of the full 2011 program. Targets identified from soil and IP anomalies will be evaluated and prioritized for early 2012 drill testing, carrying Sao Jorge’s progress definitively forward into the new year.
The following is from a press release issued by Brazilian Gold Corporation on Dec. 19, 2011.
Brazilian Gold Corporation (TSXV: BGC) is pleased to report assay results for an additional 10 holes from the 2011 drill program on the São Jorge project in the Tapajós region of northern Brazil. The drill program (37 holes in 14,418 m) was completed the second week of December. Assay results from the first 13 holes were previously reported on January 18th, June 30th and October 24th 2011; assay results from final 13 holes are pending. Results from this drill program along with historic drill holes (108 holes in 22,446 m) will be used in an updated NI43-101 resource estimate.
Highlights
Significant gold intersections include:
SJD-096-11: 1.77 g/t over 4 m (42 to 46 m) and 4.37 g/t over 4 m (106 to 110 m),
SJD-097-11: 1.24 g/t over 54 m (187 to 241 m),
SJD-101-11: 1.79 g/t over 16 m (38 to 54 m) and 1.84 g/t over 8 m (74 to 82 m),
SJD-102-11: 1.21 g/t over 14 m (130 to 144 m), and
SJD-103-11: 2.28 g/t over 11 m (130 to 144 m)
Drill program continues to intersect wide zones of alteration and gold mineralization down dip and along strike of historic drilling.
An induced polarization (IP) resistivity high with or without a coincident chargeability high is identified along strike of the São Jorge
deposit to the southeast for 1.5 km suggesting potential to identify additional gold mineralization.
The São Jorge project is well situated with respect to infrastructure. It is located approximately 70 km north of the town of Novo Progresso on Highway BR163 that connects the city of Cuiaba in Mato Grosso state with the port city of Santarem on the Amazon River. The highway is currently being asphalted with approximately 30 km remaining to be completed between São Jorge and Novo Progresso. As well as having tarred road access, the project is connected to the electric power grid and a skilled work force is available in Novo Progresso, which has a population of approximately 60,000 people.
The São Jorge deposit is 1,300 m long by up to 200 m wide and has been intersected in drill holes to 350 m depth; the deposit strikes northwest and has a sub-vertical dip. Alteration and mineralization appears to be spatially associated with a number of discontinuous shear and fracture zones within granitic host rocks. Alteration minerals include chlorite, epidote, sericite, silica and sulphides that occur as disseminations, fracture controlled or pervasive alteration. The predominant sulphide is pyrite with minor amounts of chalcopyrite. Gold mineralization is commonly associated with silica+sericite+sulphide alteration and higher gold values are generally associated with higher pyrite content and the presence of chalcopyrite.
Drill holes reported in this news release are angle holes that have been drilled on north-south sections spaced 50 m apart. The drill holes were infill holes that targeted the eastern part of the deposit up to 250 m below surface. All drill holes in this news release except for drill hole SJD-098b-11 and SJD-105-11 intersected significant intervals of alteration and gold mineralization.
Brazilian Gold is currently reviewing the results of its extensive exploration program (drilling, soil geochemistry and IP) completed in 2011. Resistivity and chargeability anomalies, some of which are similar in orientation and amplitude, as those observed over the São Jorge deposit have been outlined in a recently completed 120-line kilometre survey. Gold in soil anomalies are coincident with many of the IP anomalies. Targets identified from this work are currently being evaluated and prioritized for drill testing early in 2012.
Disclaimer:
The Resource Stock Watch is wholly owned by The Windward Agency, Corp., a public relations and investor relations firm based in the United States of America. The Windward Agency collects a monthly consulting fee from the featured firm and this document is presented solely as a baseline research vehicle. It is not an offer to buy nor sell the featured security. This publication does not make buy or sell recommendations as a matter of established policy. Further, no investment decision should be made without first consulting with a registered investment advisor. The data herein is compiled using data furnished by the featured firm as well as from third-party research and commentary sources.
Thursday, 5 January 2012
TAIA LIon Resources Welcomes Sierra Leone's Efforts to Increase Power Supply
TAIA Lion Resources, the fast track developer of the highly prospective Lake Sonfon and Gori Hills gold projects in Sierra Leone, welcomes the efforts of the Sierra Leone Government in creating positive conditions for the continued investment in power generation.
The addition of 15MW of new power to the national grid in 2013 through the privately developed Makeni Ethanol and Power Project signals the positive investment climate currently underway in Sierra Leone.
On a national scale, Phase Two of the Bumbuna Hydroelectric Project is set to more than quadruple the West African country's generation capacity by 2017, providing mine developers like TAIA with plenty of confidence that by the time they require the power for mine development, it is likely to be on stream.
The government of Sierra Leone has signed a memorandum of understanding with Joule Africa, a member of the California-based Joule Investments Group, to add 350 Megawatts of generation capacity to the facility in the center of the country.
The deal is expected to cost $750 million, 75 percent financed by debt, the remainder by equity. It was announced by Sierra Leone's Deputy Minister of Information Sheka Tarawalie at a news conference in Freetown in May 2011
The addition of 15MW of new power to the national grid in 2013 through the privately developed Makeni Ethanol and Power Project signals the positive investment climate currently underway in Sierra Leone.
On a national scale, Phase Two of the Bumbuna Hydroelectric Project is set to more than quadruple the West African country's generation capacity by 2017, providing mine developers like TAIA with plenty of confidence that by the time they require the power for mine development, it is likely to be on stream.
The government of Sierra Leone has signed a memorandum of understanding with Joule Africa, a member of the California-based Joule Investments Group, to add 350 Megawatts of generation capacity to the facility in the center of the country.
The deal is expected to cost $750 million, 75 percent financed by debt, the remainder by equity. It was announced by Sierra Leone's Deputy Minister of Information Sheka Tarawalie at a news conference in Freetown in May 2011
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