Challenger Deep Resources Corp. (TSX VENTURE:CDE) has announced that drilling operations are set to commence on its Red Rock, Nevada gold property. Challenger acquired the Red Rock gold property as a part of its Qualifying Transaction in November 2009. Over the past year Challenger has conducted geological, geophysical and geochemical work on the property.
Beaufield Resources Inc. (TSX VENTURE:BFD) has announced the signing of a 10,000 metre drill contract with Chibougamau Diamond Drilling Ltd. Drilling will focus on definition drilling to better understand the true dimensions of the Tortigny copper-zinc-silver-gold deposit which was previously drilled in the 1990s (by a previous operator). The 100%-owned Beaufield property is located on an all- access road 100 kilometres north of Chibougamau, Quebec.
Arian Silver Corporation (TSX VENTURE:AGQ) (AIM:AGQ) (PLUS:AGQ) (FRANKFURT:I3A), a silver exploration, development and production company with a focus on projects in the silver belt of Mexico, announces that it has appointed Xcap Securities PLC, the Company's UK broker, as Agent in connection with a financing to raise £3,115,000 (before expenses) by way of a brokered placement of 17,305,547 common shares of the Company at 18p per common share.
AFRICAN QUEEN MINES LTD. has announced a non-brokered private placement offering to raise gross proceeds of up to CAD $4.875 million. Under the terms of the private placement, the Company will offer for sale up to 7,500,000 Units (the "Units") at CAD $0.65 per Unit.
African Gold Group, Inc. (TSX VENTURE:AGG) has reported the analytical results for 17 near surface, step-out reverse circulation drill holes from the Company's Kobada, Mali gold project.
Cayden Resources Inc. (TSX VENTURE:CYD) has announced that it has entered into an option agreement with La Camera Mining Inc., an Ontario corporation, to acquire its Mexican subsidiary which has a purchase right to buy the Morelos Sur gold property.
Rare earth elements or rare earth metals are giving most nations nightmares. The alarm over China's decision to cut down on shipments of these critical metals has spread globally as countries scramble to find alternative supplies by developing new mines around the world. China dominates the production of these metals with a 97% share in the global market.
By Joel Scanlon
18 Oct 2010
In what must have been an emotional return to the mine some of the Chilean miners rescued recently attended a special thanks giving ceremony. After being trapped for 69 days the 33 miners were recently rescued when a mammoth rescue operation launched to free them concluded.
By Joel Scanlon
18 Oct 2010
With a brand new Diamond Exchange India is moving towards becoming a global trading centre for cut and polished diamonds.
By Joel Scanlon
18 Oct 2010
In a desperate race against time rescue workers in China are trying to reach 11 trapped miners in the Pingyu coal mine in Central China.
By Dr. Cameron Chai
18 Oct 2010
The proposed joint venture between BHP Billiton and Rio Tinto has finally been laid to rest in the face of regulatory opposition coming in from Europe and Asia. The joint venture located in Western Australia would have created the world's largest iron ore exporter.
The copper business development manager of Rio Tinto, Matthew Holcz feels that planned copper mining projects would be unable to meet the demand for the metal in the next decade.
The Mexican mining industry faces a new threat from drug cartels. According to the Mexico Mining Chamber some mining firms engaged in exploration in remote areas have shuttered some projects due to the rising costs of security. The isolated mountain regions in Mexico are where drug traffickers grow marijuana and heroin poppies.
By Dr. Cameron Chai
17 Oct 2010
Australian oil and gas exploration and production company Santos Ltd (ASX:STO) is on a mission to raise money. After a sale of 700 million Euros worth of hybrid notes last month it has priced an additional 300 million Euros worth of notes this month.
Fortescue Metals Group is facing rising production costs along with the rise of the Australian Dollar. The Chief Financial Officer of Fortescue, Stephen Pearce said that the strengthening Australian dollar has continued to have an impact over the quarter, given that approximately 70 per cent of the operating costs are in Australian dollars.