TAIA Lion Resources, Sierra Leone's leading gold and precious metals exploration company, is well positioned to weather the increasingly difficult capital market situation currently embracing exploration stage mining companies.
In Sierra Leone, TAIA's Lake Sonfon and Gori Hills gold projects (subject to positive feasibility studies) will be low cost open pit projects. Traditionally, low gold prices benefit the open pit gold mining sector and with some recent uncertainty surrounding the gold price, where the price broke through the $1,600 per ounce price floor recently, TAIA is well positioned to offer investors a low risk profile when it comes to taking what is already a decent set of drill results from its projects, through to realising mine development.
Typically a plant capable of treating bulk low grade gold feed can be built for circa 75 million US$.
Set this against an underground gold-copper mine, where the capital expenditure can exceed 1 billion US$. Cash cost per ounce typically for gold recovered from an open pit operation, where grades average around 3 grammes per tonne can fall between $400 to $600 per ounce. Cash cost per ounce for underground mines often fall above $1,000 per ounce.
Should gold track lower, then the ability to bring into production, underground "marginal" projects will be extremely limited. With project finance becoming even more difficult to secure, a lower gold price could render a number of gold projects redundant. This could actually hinder supply and may serve to drive gold prices higher. At what point the inflection between supply, demand and price works to adjust back into driving the price of gold up, is difficult to predict. But if the gold price remains below $1,400
and uncertainty surrounds the market, then even gold-copper mines with good prospects, may struggle to secure development finance. Given the fact older mines, with high cash per once production costs, need ongoing development finance, many may find that financing continuing production could prove difficult.
Accordingly, TAIA with promising drill results from its gold projects to date, strong corporate responsibility profile in Sierra Leone, favourable on the ground conditions and low cost, low risk exploration to production profile, is positioned better than most to make their operations in Sierra Leone a great success.
Saturday, 12 May 2012
Saturday, 5 May 2012
Strategic Minerals SML.LN Institutional Investor Support Grows
Strategic Minerals SML. LN one of London's few junior listed iron ore plays currently in the production phase, announced last week that they had raised £3,125,000 to fund ongoing development of their Cobre Magnetite Project at their New Mexico Site.
A revised upward forecast of 70,000 tonnes per month of magnetite, shipped through the soon to be connected rail spur, is certain to add significant income flows to the company over the next twelve months. With the market losing appetite for pure play exploration play propositions, SML is appealing to investors, both private and institutional, because of its cash generating lower risk profile that is backed by a strong portfolio of infrastructure supported iron ore projects located across Australia.
Highlights:
· £3,125,000 raised through a placing of new shares;
· Funds raised through the issue of 39,062,500 new ordinary shares at a subscription price of £0.08 per share with an attaching warrant to purchase one ordinary share at an exercise price of £0.12 per share exercisable at any time at the holder's option on or before 30th April 2014;
· Institutions and high net worth individuals participated in the round;
· Funds raised to be used in part for the final rail refurbishment payment at the Company's New Mexico site and to develop further near-term revenue generating iron ore projects.
Strategic Minerals Plc (AIM: SML; USOTC: SMCDY), the magnetite iron ore producer and exploration company, is delighted to announce that it has raised £3,125,000 before expenses from institutional and other investors through the subscription to 39,062,500 new ordinary shares of £0.001 each (the "Subscription Shares") at a price of £0.08 per Subscription Share with an attaching warrant to purchase one ordinary share at an exercise price of £0.12 per share exercisable at any time at the holder's option on or before 30th April 2014. The placement was conducted for the Company by Intrinsic Capital LLP.
The funds raised will be used in part for the final rail refurbishment payment at the Company's New Mexico site and to develop further near-term revenue generating iron ore projects. Although later than previously anticipated, completion of the rail upgrade is now imminent which will enable increased shipments of magnetite from the site to begin. Shipments continue to be made by truck for the time being.
Steven Sanders, Chairman of Strategic Minerals, said:
"We are delighted to announce this successful placing and in particular the interest shown by new institutional investors participating in the round. This funding will be used partly to make the final rail refurbishment payment at our Cobre project in New Mexico and allow for significantly increased shipments of magnetite to commence from the site. When operating at full capacity, the Company will be able to ship up to 70,000 tonnes per month from this location which is ideally positioned within the major U.S market. The Board is further encouraged by the multiple, profitable end markets in addition to the underlying iron ore market that we are able to serve from our first magnetite stockpile."
Application will be made for the Subscription Shares to be admitted to trading on AIM ("Admission") and it is anticipated that Admission will occur on or around 11 May 2012. On Admission the Subscription Shares, will rank pari passu with the Company's existing ordinary shares of £0.001 each ("Ordinary Shares").
Following Admission the total number of Ordinary Shares in issue will be 448,158,893. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Services Authority's Disclosure and Transparency Rules.
The placement was carried out within the Company's existing share authorities.
A revised upward forecast of 70,000 tonnes per month of magnetite, shipped through the soon to be connected rail spur, is certain to add significant income flows to the company over the next twelve months. With the market losing appetite for pure play exploration play propositions, SML is appealing to investors, both private and institutional, because of its cash generating lower risk profile that is backed by a strong portfolio of infrastructure supported iron ore projects located across Australia.
Highlights:
· £3,125,000 raised through a placing of new shares;
· Funds raised through the issue of 39,062,500 new ordinary shares at a subscription price of £0.08 per share with an attaching warrant to purchase one ordinary share at an exercise price of £0.12 per share exercisable at any time at the holder's option on or before 30th April 2014;
· Institutions and high net worth individuals participated in the round;
· Funds raised to be used in part for the final rail refurbishment payment at the Company's New Mexico site and to develop further near-term revenue generating iron ore projects.
Strategic Minerals Plc (AIM: SML; USOTC: SMCDY), the magnetite iron ore producer and exploration company, is delighted to announce that it has raised £3,125,000 before expenses from institutional and other investors through the subscription to 39,062,500 new ordinary shares of £0.001 each (the "Subscription Shares") at a price of £0.08 per Subscription Share with an attaching warrant to purchase one ordinary share at an exercise price of £0.12 per share exercisable at any time at the holder's option on or before 30th April 2014. The placement was conducted for the Company by Intrinsic Capital LLP.
The funds raised will be used in part for the final rail refurbishment payment at the Company's New Mexico site and to develop further near-term revenue generating iron ore projects. Although later than previously anticipated, completion of the rail upgrade is now imminent which will enable increased shipments of magnetite from the site to begin. Shipments continue to be made by truck for the time being.
Steven Sanders, Chairman of Strategic Minerals, said:
"We are delighted to announce this successful placing and in particular the interest shown by new institutional investors participating in the round. This funding will be used partly to make the final rail refurbishment payment at our Cobre project in New Mexico and allow for significantly increased shipments of magnetite to commence from the site. When operating at full capacity, the Company will be able to ship up to 70,000 tonnes per month from this location which is ideally positioned within the major U.S market. The Board is further encouraged by the multiple, profitable end markets in addition to the underlying iron ore market that we are able to serve from our first magnetite stockpile."
Application will be made for the Subscription Shares to be admitted to trading on AIM ("Admission") and it is anticipated that Admission will occur on or around 11 May 2012. On Admission the Subscription Shares, will rank pari passu with the Company's existing ordinary shares of £0.001 each ("Ordinary Shares").
Following Admission the total number of Ordinary Shares in issue will be 448,158,893. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Services Authority's Disclosure and Transparency Rules.
The placement was carried out within the Company's existing share authorities.
Wednesday, 2 May 2012
URU Metals Nickel Joint Venture UPDATE
South African Nickel Joint Venture Update
Ongoing drilling continues to confirm large disseminated nickel resources at Burgersfort and Zebediela nickel projects, South Africa
Highlights
· Additional drilling results from both the Burgersfort and Zebediela nickel projects confirm large open pit disseminated sulphide nickel resources. The first phase of drilling has now been completed on both projects.
· URU Metals has satisfied the terms of the Joint Venture Agreement and has fully vested its interest in both projects.
· The South African Nickel Joint Venture ("Joint Venture") has engaged MSA Group to complete a Preliminary Economic Assessment ("PEA") on the Zebediela Nickel Project.
· Appointment of Mike Houston as CEO of the Joint Venture.
Commenting on the nickel joint venture update, Paul Loudon, Non-Executive Chairman of URU Metals, said: "The results continue to be extremely pleasing and indicate that both Burgersfort and Zebediela host large open pit disseminated sulphide nickel resources. Furthermore, the economic potential of one of these projects, Zebediela,will be indicated with the completion of a PEA. I am particularly pleased to announce that Mr. Mike Houston, a highly experienced mine builder has joined the team. Mike will lead the feasibility assessments and development of the projects on behalf of the Joint Venture. "
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TAIA Lion Resources, Investing, Drilling, Developing
TAIA Lion Resources, one of Sierra Leone's leading gold and precious metals exploration companies, recently undertook a ten hole drill campaign across their Gori Hills gold exploration project. Targeting the N'Jama area cliff face, the company has reported results from just over six of the holes sunk along a north south strike. Assay results so far have been very positive, and the company is showing all the signs of being able to assemble a robust geological and data package that will go on to support the implementation of a pre-feasibility study. Commenting on the progress CEO Ari Untracht said, "I am delighted with the progress we have been making at Gori Hills, which comes off the back of the good results we delivered from our initial drill campaign at our other property at Lake Sonfon. Our Gori Hills property looks really promising and I am now quietly confident that TAIA, through the support of our wonderful shareholders, technical teams and our fantastic stakeholders in Sierra Leone, will be able to move up a gear and progress towards securing an internationally acceptable resource estimate on at least one, but ideally both of our properties. TAIA Lion is delivering on our commitment to be a good custodian of our exploration licences and work on them to swiftly move to realising our vision, which is to develop a world class gold mine that can make a considerable contribution to the economic development of Sierra Leone"
Brazilian Gold Corp BGC.TSXV, Superb Gold Recoveries of 88% to 92% from Recent Test-Work at Flagship São Jorge
Brazilian Gold reports Excellent Gold Recoveries of 88 to 92% from Preliminary Metallurgical Testwork for the São Jorge Deposit, Brazil
Brazilian Gold Corporation (TSXV: BGC) is pleased to report results for initial metallurgical testwork on representative composite drill-core samples of primary mineralization from the São Jorge deposit. The study was conducted by Testwork Desenvolvimentos de Processo Ltda., Nova Lima, Minas Gerais, Brazil. All samples were analyzed by SGS Lakefield Geosol Laboratórios Ltda., Vaspasiano, Minas Gerais, Brazil.
Brazilian Gold Corporation (TSXV: BGC) is pleased to report results for initial metallurgical testwork on representative composite drill-core samples of primary mineralization from the São Jorge deposit. The study was conducted by Testwork Desenvolvimentos de Processo Ltda., Nova Lima, Minas Gerais, Brazil. All samples were analyzed by SGS Lakefield Geosol Laboratórios Ltda., Vaspasiano, Minas Gerais, Brazil.
Highlights include:
- 88 - 92% recoveries for direct carbon-in-pulp and carbon-in-leach cyanidation tests at P80 = 200 mesh (75 microns).
- Gravity recoverable gold of 40-50% at a concentrate grade of 25 g/t.
- Cyanide consumption of 0.32 kg/t.
- The mean calculated head grade for the range of tests carried out was 0.78 g/t, well below the diluted resource grade of 0.91 g/t. Brazilian Gold's metallurgical consultants anticipate an increase in recoveries at higher feed grades.
- Gravity recoverable gold of 40-50% at a concentrate grade of 25 g/t.
- Cyanide consumption of 0.32 kg/t.
- The mean calculated head grade for the range of tests carried out was 0.78 g/t, well below the diluted resource grade of 0.91 g/t. Brazilian Gold's metallurgical consultants anticipate an increase in recoveries at higher feed grades.
Samples were taken from nine drill holes, covering a strike length of 600 m over a vertical depth of 60 to 350 m below surface. The samples were crushed to P80 = 1.68 mm and composited into a single representative sample from which a number of 1 kg sub-samples were taken for leach and gravity recovery testwork.
São Jorge gold bearing samples have been shown to be amenable to cyanide leaching at a grind of P80 75 micron grind size. In bottle roll leach tests using this grind size, gold recovery was found to be between 88% and 92%.
Cyanide dosage optimization test work results indicated that cyanide consumption of 320 grams of cyanide per tonne of feed was required in order to achieve the highest gold recovery.
Samples were also subjected to gravity concentration prior to cyanide leaching for which the average recovery was 41% at a feed size of 75 micron P80. The gravity concentrate assayed 25 g/t. Cyanide leaching of the gravity tails product reported gold recoveries between 88 and 92%.
The free milling properties of the gold in the samples indicate that gravity concentration is viable, which should help gold extraction ahead of cyanide leaching resulting in lower cyanide consumption and shorter leach residence time.
Further testwork is planned to better define grind size versus gold recovery and to optimize leach residence time and cyanide consumption rates. Additional work will also include intense cyanide leach recovery potential of the gravity concentrate for its impact on overall gold recovery.
Ian Stalker, CEO of Brazilian Gold, commented "These results add further significant value to our ongoing work on our São Jorge project in the Tapajós region of Brazil. The metallurgical testwork has determined that gold recovery in the 90% range is possible, confirming estimations made in the PEA delivered in July 2011, and we can expect better recoveries at our predicted higher feed grades when operations commence. The ability to separate and recover gold by gravity indicates lower capital and operating costs can be expected.
As indicated by our consultants, the mean calculated head grade for the range of tests carried out was 0.78 g/t gold, well below the diluted resource grade of 0.91 g/t. Brazilian Gold's metallurgical consultants anticipate an increase in recoveries at higher feed grades.
Based on the results, consideration will also be given to a 'heap leach' approach to treating our ore body.
As indicated by our consultants, the mean calculated head grade for the range of tests carried out was 0.78 g/t gold, well below the diluted resource grade of 0.91 g/t. Brazilian Gold's metallurgical consultants anticipate an increase in recoveries at higher feed grades.
Based on the results, consideration will also be given to a 'heap leach' approach to treating our ore body.
It is also important to note our ongoing optimization of the São Jorge project by Coffey Mining (Canada) following completion of the 2011 drill campaign. The mining inventory recovered from the resource reported in the July 2011 PEA was only 49% and any further increase in the reserve will add extra dollar value to our project."
Matt Bolu, M.Sc., P.Eng., principal of Bolu Consulting Engineering Inc. was commissioned by Brazilian Gold Corporation to review the metallurgical testwork completed by Testwork Desenvolvimentos de Processo Ltda. Mr. Bolu is a Qualified Person, as defined by National Instrument 43-101, and has approved the technical disclosure contained in this News Release.
About Brazilian Gold Corporation
Brazilian Gold is a Canadian-based public company with a focus on the acquisition, exploration and development of mineral properties in northern Brazil. The Company has title to one of the la rgest land packages (3,750 km2) in the Tapajós and adjacent Alta Floresta gold provinces. The land package contains green fields to more advance stage projects including the Company's flagship São Jorge project. Rapid improvements to regional infrastructure continue to provide underlying support to Brazilian Gold's activities in northern Brazil.
The São Jorge project contains an indicated mineral resource of 11.365 Mt grading 1.0 g/t gold (379,000 ounces of gold) and an inferred mineral resource of 20.673 Mt grading 0.8 g/t gold (558,000 ounces of gold) at a 0.3 g/t gold cut-off (Coffey Mining, June 21, 2011).
Matt Bolu, M.Sc., P.Eng., principal of Bolu Consulting Engineering Inc. was commissioned by Brazilian Gold Corporation to review the metallurgical testwork completed by Testwork Desenvolvimentos de Processo Ltda. Mr. Bolu is a Qualified Person, as defined by National Instrument 43-101, and has approved the technical disclosure contained in this News Release.
About Brazilian Gold Corporation
Brazilian Gold is a Canadian-based public company with a focus on the acquisition, exploration and development of mineral properties in northern Brazil. The Company has title to one of the la rgest land packages (3,750 km2) in the Tapajós and adjacent Alta Floresta gold provinces. The land package contains green fields to more advance stage projects including the Company's flagship São Jorge project. Rapid improvements to regional infrastructure continue to provide underlying support to Brazilian Gold's activities in northern Brazil.
The São Jorge project contains an indicated mineral resource of 11.365 Mt grading 1.0 g/t gold (379,000 ounces of gold) and an inferred mineral resource of 20.673 Mt grading 0.8 g/t gold (558,000 ounces of gold) at a 0.3 g/t gold cut-off (Coffey Mining, June 21, 2011).
Thursday, 26 April 2012
Atlantic Coal ATC.LN Shares Soar as Market Picks up on Significant Operational Improvements
Atlantic Coal ATC.LN shares soar by 16% Thursday as the market begins to pick up on a raft of good news. ATC , the operator of the Stockton anthracite colliery in Pennsylvania USA, recently announced the completion of the long awaited, rail re-alignment project, unlocking an additional 1 million tonnes of anthracite reserves. This coupled with strong market demand, that has seen the price of anthracite increase to over $166 per tonne, has served to get investors excited about the future prospects of ATC
http://www.youtube.com/watch?v=FuIDDlGO2no&feature=youtube_gdata_player
http://www.youtube.com/watch?v=FuIDDlGO2no&feature=youtube_gdata_player
Tuesday, 24 April 2012
Daniel Stewart DAN.LN Successfully Close a £9.63 Million Placing for IT Services Group Globo
Daniel Stewart the Pan Euro-Asia brokerage and investment banking group, continue to outshine their London rivals with another fantastic placing for Globo, the software house and developer of the GoEnterprise server system. DS have raised £9.63 Million in a what is a tough period for the brokerage industry,
placing around 36.34 million shares issued to current and new institutional investors at 26.5 pence per share - a slight premium to yesterday's closing share price of 26.13 pence.
Daniel Stewart is one of the few London brokers to recently turn in a profit. The company has steadily been building up its global network that has focused strongly on developing its sales presence in the Middle East and Asia.
This is a strategy that is clearly paying off for the group.
placing around 36.34 million shares issued to current and new institutional investors at 26.5 pence per share - a slight premium to yesterday's closing share price of 26.13 pence.
Daniel Stewart is one of the few London brokers to recently turn in a profit. The company has steadily been building up its global network that has focused strongly on developing its sales presence in the Middle East and Asia.
This is a strategy that is clearly paying off for the group.
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