TO:
FM: MIKE BRADY
SUBJECT: ACTIVITY UPDATE
November 2004
UNITED STATES
ALASKA
St. Andrew Goldfields Ltd. announced that recent underground drill results
at the Nixon Fork Project include 2.6 meters @ 0.217 opt Au (DH-108); 3.9
meters @ 0.193 opt Au (DH-109); 3.4 meters @ 0.677 opt Au (DH-112) and 1.3
meters @ 0.300 opt Au (DH-120). (resource = 122,549 tons @ 1.330 opt Au)
M.J.: November 12
ARIZONA
Grupo Mexico SA de CV announced that it sold Minera Mexico SA de CV
to Southern Peru Copper Corp. for 67,200,000 shares. This transaction
therefore unitizes all of Grupo Mexico’s base metal operations into one
subsidiary company.
W.S.J.: October 25
NEVADA
Placer Dome Inc. announced that it acquired an option to earn a 60%
interest in the Red Hill Property from Miranda Gold Corp. for $549,875 cash and
$2,000,000 in exploration expenditures over 4 years.
Press Release: October 28
Placer Dome Inc.(60%) announced that recent drill hole results at the
Cortez Hills Project include 152 meters @ 0.788 opt Au; 88 meters @ 0.507 opt
Au; 104 meters @ 0.431 opt Au; 27 meters @ 0.375 opt Au; 61 meters @ 0.114
opt Au and 125 meters @ 1.040 opt Au. (reserve = 21,230,000 tons @ 0.179 opt
Au proven and 25,960,000 tons @ 0.141 opt Au probable)
N.M.: October 15
Rio Fortuna Exploration Corp. announced that recent drill results at the
Baxter Project include 51.8-57.9 meters @ 0.102 opt Au (B04006) and 47.2-57.9
meters @ 0.059 opt Au (B04007).
Press Release: November 18
Klondex Minerals Ltd. announced that recent drill results at the Fire Creek
Project include 10 feet @ 0.404 opt Au; 10 feet @ 0.334 opt Au; 20 feet @ 0.421
opt Au and 25 feet @ 2.594 opt Au all at a depth exceeding 1,000 feet. (resource
= 450,000 tons @ 0.060 opt Au)
N.M.: October 22
1
Lincoln Gold Corp. announced that it terminated its interest in the
Hercules Project of Miranda Gold Corp. due to discouraging exploration results.
Press Release: November 2
Miranda Gold Corp. announced that it terminated its interest in the
Hercules Property due to discouraging exploration results.
Press Release: November 2
Pacific Rim Mining Corp.(49%) and Kennecott Minerals Inc.(51%)
announced that they signed an agreement with Nevada Resource Recovery
Group LLC for Nevada Resource to purchase the Denton-Rawhide open pits to
be used as a landfill for undisclosed terms.
Press Release: November 14
Queenstake Resources Ltd. announced that recent underground drill
results at the Jerritt Canyon/Smith Mine Project include 195-210 feet @ 0.290 opt
Au (6790-L8); 170-200 feet @ 0.280 opt Au (6790-M9) and 235-265 feet @
0.597 opt Au (6790-M9). (reserve @ Jerritt Canyon = 2,563,000 tons @ 0.303
opt Au proven+probable)
Press Release: November 15
Queenstake Resources Ltd. announced that recent drill results at the
Jerritt Canyon/Mahala Project include 0-10 feet @ 0.491 opt Au (LX-503); 585600 feet @ 0.266 opt Au (LX-508); 435-450 feet @ 0.375 opt Au (LX-509); 275295 feet @ 0.454 opt Au (LX-513) and 400-425 feet @ 0.319 opt Au (LX-514).
(reserve @ Jerritt Canyon = 2,563,000 tons @ 0.303 opt Au proven+probable)
Press Release: November 15
Queenstake Resources Ltd. announced that recent drill results at the
Jerritt Canyon/SSX Mine Project include 75-108.5 feet @ 0.649 opt Au (SX-889);
210-262 feet @ 0.301 opt Au (SX-891); 217-240 feet @ 0.360 opt Au (SX-892);
62.5-80 feet @ 0.476 opt Au (SX-893) and 80-100 feet @ 0.270 opt Au (SX-897).
(reserve @ Jerritt Canyon = 2,563,000 tons @ 0.303 opt Au proven+probable)
Press Release: November 15
Metallic Ventures Inc. announced that it purchased four sections of fee
lands within the boundaries of the Converse Project from Nevada Land and
Resource Co. for undisclosed terms. (resource = 262,350,000 tons @ 0.015 opt
Au measured+indicated)
Press Release: November 22
WYOMING
Bell Coast Capital Corp. announced that it purchased a 100% interest in
the Sheep Mountain Property (Ur) from Crested Corp. and U.S. Energy Corp. for
undisclosed cash and shares. (resource = 18,300,000 tons @ 0.20% U3O8)
N.M.: November 5
2
CANADA
BRITISH COLUMBIA
Taseko Mines Ltd. announced that it began operations at the Gibraltar
Mine from the Polyanna open-pit at a rate of 38,500 tons/day of ore. (resource =
163,900,000 tons @ 0.31% Cu, 0.01% Mo measured+indicated)
M.J.: October 15
Fjordland Exploration Inc.(60%) announced that recent drill results at the
Woodjam Project include 4.0-278.9 meters @ 0.14% Cu, 0.030 opt Au (04-32);
7.0-209 meters @ 0.10% Cu, 0.021 opt Au (04-33) and 3.1-147 meters @ 0.10%
Cu, 0.019 opt Au (04-35).
N.M.: October 15
Cross Lake Minerals Ltd.(60%) announced that recent drill results at the
Ruddock Creek Project include 132-142.3 meters @ 7.56% Zn, 1.57% Pb (RD04-105); 144.2-159.32 meters @ 16.59% Zn, 3.7% Pb (RD-04-107) and 133.13145.74 meters @ 11.54% Zn, 2.2% Pb (RD-04-108). (resource = 2,970,000 tons
@ 8.33% Zn, 1.67% Pb)
N.M.: October 15
Mosquito Consolidated Gold Mines Ltd.(50%) announced that recent drill
results at the Brett Project include 45.6-55.8 meters @ 0.155 opt Au (DDH-0401); 72-75.1 meters @ 0.996 opt Au (DDH-04-02); 26.5-28 meters @ 0.105 opt
Au (DDH-04-05) and 59.5-64 meters @ 0.076 opt Au (DDH-04-06).
M.J.: November 5
Imperial Metals Corp. announced that recent drill results at the Mount
Polley/Northeast Zone Project include 81.2-118.2 meters @ 1.43% Cu, 0.020 opt
Au (WB04-104); 23.1-57.5 meters @ 1.44% Cu, 0.014 opt Au (WB04-106); 95167.5 meters @ 1.32% Cu, 0.005 opt Au (WB04-107); 92.5-167.5 meters @
2.02% Cu, 0.018 opt Au (WB04-110) and 97.5-155 meters @ 1.72% Cu, 0.005
opt Au (WB04-113). (NE Zone resource = 6,800,000 tons @ 0.98% Cu, 0.009
opt Au)
M.J.: November 5
Redcorp Ventures Ltd. announced that recent drill results at the
Tulsequah Chief Project include 641-661.2 meters @ 0.110 opt Au, 4.19 opt Ag,
1.25% Cu, 2.1% Pb, 9.2% Zn (TCU04-120); 630.4-638.5 meters @ 0.117 opt Au,
4.3 opt Ag, 3.05% Cu, 1.58% Pb, 7.82% Zn (TCU04123); 539.2-553.2 meters @
0.131 opt Au, 5.92 opt Ag, 1.16% Cu, 2.29% Pb, 6.53% Zn (TCU04126) and
246.4-251.4 meters @ 0.228 opt Au, 6.91 opt Ag, 1.4% Cu, 2.91% Pb, 11.12%
Zn (TCU04-129). (resource = 8,690,000 tons @ 1.27% Cu, 0.071 opt Au, 2.9 opt
Ag, 6.35% Zn, 1.2% Pb)
N.M.: November 5
Novagold Resources Ltd.(80%) announced that recent drill results at the
Copper Canyon Project include 155.5-229 meters @ 0.029 opt Au, 0.59 opt Ag,
2.74% Cu (CC04-022); 158.5-192 meters @ 0.052 opt Au, 0.70 opt Ag, 2.16%
3
Cu (CC04-023) and 345.5-361 meters @ 0.040 opt Au, 0.28 opt Ag, 0.67% Cu
(CC04-026)
M.J.: October 29
Eastfield Resources Ltd.(75%) announced that recent drill results at the
Lorraine Project include 3-22 meters @ 0.85% Cu (82); 28-47.5 meters @ 0.94%
Cu (82); 67-76.6 meters @ 0.63% Cu (82); 89-112 meters @ 1.46% Cu (82) and
14.5-33.5 meters @ 0.55% Cu (74). (resource = 35,200,000 tons @ 0.66% Cu,
0.017 opt Au)
N.M.: November 5
Teck Cominco Ltd. announced that it recorded a $42,622,900 write-down
of its 9% shareholding in Sons of Gwalia Ltd. (now in receivership)
M.J.: October 29
Western Keltic Mines Ltd. announced that recent drill results at the Kutcho
Creek Project include 503.7-506.3 meters @ 1.17% Cu, 5.1% Zn, 0.33 opt Ag
(1); 510.7-521.8 meters @ 3.25% Cu, 4.72% Zn, 3.28 opt Ag (1); 64.6-75.3
meters @ 2.8% Cu, 2.6% Zn, 1.9 opt Ag (3); 41-49.3 meters @ 5.34% Cu, 5.94%
Zn, 4.06 opt Ag (5) and 61.7-79.6 meters @ 2.52% Cu, 2.33% Zn, 1.79 opt Ag
(12). (resource = 16,390,000 tons @ 1.85% Cu, 2.62% Zn, 0.92 opt Ag indicated
in Main Zone and 1,650,000 tons @ 3.37% Cu, 5.71% Zn, 1.86 opt Ag indicated
in the West Zone)
N.M.: November 5
MANITOBA
Ontzinc Corp. announced that it acquired an option to purchase a 100%
interest in Hudson Bay Mining and Smelting Corp. from Anglo American plc for
$260,000,000 cash. (reserve @ Flin Flon = 18,040,000 tons @ 2.07% Cu, 4.94%
Zn proven+probable)
N.M.: October 15
Wolfden Resources Inc. announced that based on recent drill results at
the Monument Bay Project, resources aggregate 1,870,000 tons @ 0.357 opt Au
inferred. (was 703,300 tons @ 0.598 opt Au inferred)
M.J.: October 29
NORTHWEST TERRITORIES
Commander Resources Ltd. announced that recent drill results at the
Ridge Lake Project include 67.05-69.2 meters @ 0.512 opt Au (RLD-04-02);
28.68-30.18 meters @ 0.441 opt Au (RDL-04-09) and 35.08-41.73 meters @
0.116 opt Au (RDJ-04-10).
M.J.: October 29
Committee Bay Resources Ltd.(45%) announced that recent drill results at
the Three Bluffs Project include 87.57-90.97 meters @ 0.325 opt Au (4TB027);
51-58.25 meters @ 0.310 opt Au (4TB029); 378.85-384.27 meters @ 0.247 opt
Au (4TB031) and 35.88-51.34 meters @ 0.394 opt Au (4TB033).
M.J.: November 5
4
Canadian Zinc Corp. announced that recent drill results at the Prairie
Creek Project include 471.7-474.8 meters @ 24.1% Pb, 30.67% Zn, 14.15 opt
Ag, 1.14% Cu (PC-04-152); 326.4-349.7 meters @ 4.01% Pb, 6.92% Zn, 2.55
opt Ag, 0.2% Cu (PC-04-156); 463.1-492.6 meters @ 12.99% Pb, 9.48% Zn,
4.77 opt Ag, 0.24% Cu (PC-04-159) and 235.1-261.5 meters @ 2.72% Pb,
10.06% Zn, 0.85 opt Ag, 0.01% Cu (PC-04-150). (resource = 12,760,000 tons @
4.72 opt Ag, 12.5% Zn, 10.1% Pb, 0.4% Cu) M.J.: November 12
Anaconda Gold Corp.(55%) announced that recent drill results at the
Damoti Lake Project include 84.3-86.65 meters @ 0.578 opt Au (D04-347); 63.865.7 meters @ 1.050 opt Au (D04-349); 25.55-27.1 meters @ 0.427 opt Au (D04353) and 15.85-18.1 meters @ 0.943 opt Au (D04-356). (resource = 501,200
tons @ 0.468 opt Au)
M.J.: November 12
NOVA SCOTIA
Acadian Gold Ltd. announced that based on recent drill results at the
Tangier Project, resources aggregate 323,400 tons @ 0.161 opt Au indicated
and 988,700 tons @ 0.170 opt Au inferred. (no previous estimate)
N.M.: October 15
ONTARIO
Canadian Arrow Mines Ltd. announced that recent drill results at the
Alexo/Kelex Project include 103.5-109.7 meters @ 1.1% Ni (31); 102-103 meters
@ 6.7% Ni (35); 101.5-105.7 meters @ 2.0% Ni (64) and 55-57.6 meters @
3.9% Ni (69).
N.M.: October 29
First Nickel Inc. announced that recent drill results at the Dundonald
Project include 215-230.2 meters @ 5.26% Ni (D04-29); 222.4-224.4 meters @
2.84% Ni (S04-9) and 92.05-94 meters @ 2.85% Ni (S04-10).
N.M.: November 5
Lake Shore Gold Ltd. and Holmer Gold Mines Ltd. announced that they
would merge on a 1.0 share Lake Shore/1.5 shares Holmer basis. (resource @
Timmins = 1,540,000 tons @ 0.322 opt Au indicated)
N.M.: October 29
Ursa Major Minerals Inc.(75%) announced that based on recent drill
results at the Shakespeare Project, reserves aggregate 8,030,000 tons @ 0.37%
Ni, 0.39% Cu, 0.024% Co, 0.028 opt PGM probable within two separate deposits.
(was 9,900,000 tons @ 0.37% Cu, 0.36% Ni, 0.02% Co, 0.015 opt PGM
indicated in the East Deposit and 3,300,000 tons @ 0.33% Cu, 0.29% Ni, 0.02%
Co, 0.026 opt PGM indicated in the West Deposit)
M.J.: November 5
5
Noranda Inc. announced that the period where China Minmetals Corp.
held an exclusive negotiating right to purchase Noranda has expired without the
formation of any definitive acquisition terms.
W.S.J.: November 17
Dynatec Ltd.(25%) and FNX Mining Ltd.(75%) announced that elevated
noxious gas levels were detected in the Levak underground development project
and therefore, all further underground work will be suspended until additional
studies can be completed. (resource = 6,050,000 tons @ 0.90% Cu, 1.9% Ni
measured+indicated)
N.M.: November 5
Kirkland Lake Gold Inc. announced that recent drill results at the Macassa
Project include 63.72-80.82 meters @ 0.259 opt Au (SV-04-08); 92.99-98.09
meters @ 0.098 opt Au (SV-04-10) and 56.4-61.9 meters @ 0.107 opt Au (SV04-11). (reserve = 1,320,000 tons @ 0.483 opt Au proven+probable)
M.J.: November 12
QUEBEC
Osisko Exploration Ltd.(60%) announced that recent drill results at the
Barry Project include 11.7-27.86 meters @ 0.066 opt Au (BA04-125); 3.5-16.5
meters @ 0.144 opt Au (BA04-134); 3.71-13.50 meters @ 0.203 opt Au (BA04135); 4.84-23.59 meters @ 0.048 opt Au (BA04-138) and 18.52-25.2 meters @
0.069 opt Au (BA04-139).
M.J.: October 15
Northern Star Mining Corp. announced that recent drill results at the
Midway Project include 471-475.6 meters @ 0.193 opt Au (NSM-04-53); 123.5128.42 meters @ 0.159 opt Au (NSM-04-54); and 131.1-134.5 meters @ 0.286
opt Au (NSM-04-54).
M.J.: October 15
Canadian Royalties Inc. announced that recent drill results at the ExpoUngava/Mequillon Project include 163-192 meters @ 1.0% Ni, 1.17% Cu, 0.05%
Co, 0.143 opt PGM (MQNDDH04-32); 25-57.5 meters @ 0.51% Ni, 0.70% Cu,
0.03% Co, 0.070 opt PGM (MQNDDH04-25) and 30-54.8 meters @ 1.08% Ni,
0.81% Cu, 0.05% Co, 0.182 opt PGM (MQNDDH04-26). (resource = 1,540,000
tons @ 0.70% Ni, 0.90% Cu, 0.03% Co, 0.079 opt PGM inferred)
M.J.: October 22
SASKATCHEWAN
UEX Corp. announced that recent drill results at the Black Lake Project
include 310.5-314.9 meters @ 0.694% U3O8 (18).
N.M.: October 15
Denison Mines Inc. announced that it acquired an option to earn a 22.5%
interest in the Wolly Property (Ur) near McClean Lake from Cogema Resources
Ltd. for $4,167,000 in exploration expenditures over 6 years. N.M.: November 5
6
Denison Mines Inc. announced that it acquired an option to earn an
additional 20% interest (to then hold 60%) in the Wheeler River Property (Ur)
near Key Lake from Cameco Corp. and Japan-Canada Uranium Inc. for
$5,833,000 in exploration expenditures over 6 years.
N.M.: November 5
YUKON
Expatriate Resources Ltd. announced that recent drill results at the
Wolverine Project include 118.09-124.02 meters @ 0.126 opt Au, 19.62 opt Ag,
0.65% Cu, 1.73% Pb, 8.25% Zn (WV04-124); 240-246.7 meters @ 0.039 opt Au,
12.87 opt Ag, 2.87% Cu, 0.91% Pb, 5.83% Zn (WV04-125) and 175.4-180.6
meters @ 0.046 opt Au, 5.97 opt Ag, 0.47% Cu, 0.86% Pb, 10.6% Zn (WV04127). (resource = 6,860,000 tons @ 0.051 opt Au, 1.33% Cu, 10.9 opt Ag, 1.55%
Pb, 12.66% Zn)
M.J.: November 12
MEXICO
CHIAPAS
Linear Gold Corp. announced that recent drill results at the Ixhuatan
Project include 0-60 meters @ 0.278 opt Au, 0.80 opt Ag (IX-20) and 26-76
meters @ 0.143 opt Au, 0.70 opt Ag (IX-21).
M.J.: October 22
Linear Gold Corp. announced that recent drill results at the Ixhuatan
Project include 10-118 meters @ 0.102 opt Au, 0.36 opt Ag (IX-22) and 0-78
meters @ 0.082 opt Au, 0.49 opt Ag (IX-24).
M.J.: November 12
CHIHUAHUA
Bolnisi Gold NL announced that based on recent drill results at the
Palmarejo Project, resources aggregate 22,000,000 tons @ 0.053 opt Au, 5.74
opt Ag inferred. (was 6,710,000 tons @ 0.050 opt Au, 0.76 opt Ag inferred)
M.J.: October 29
DURANGO
Dia Bras Exploration Inc. announced that recent drill results at the Bolivar
Project include 67-72 meters @ 6.31% Cu, 37.23% Zn (DIA-045-04); 97-101
meters @ 4.04% Cu, 0.87% Zn (DIA-061-04) and 78.8-80 meters @ 8.07% Cu,
38.15% Zn (DIA-046-04).
M.J.: October 29
GUERRERO
Teck Cominco Ltd. announced that recent drill results at the Morelos Norte
Project include 72.8-87.6 meters @ 0.299 opt Au (124); 119.8-145.5 meters @
7
0.504 opt Au (162); 12.3-21.9 meters @ 0.129 opt Au (154) and 0-17.3 meters @
0.138 opt Au (156). (resource = 33,660,000 tons @ 0.096 opt Au inferred)
M.J.: November 12
SINALOA
Scorpio Mining Corp. announced that recent underground drill holes at the
Nuestra Senora Project include 0-17.5 meters @ 6.81 opt Ag, 1.3% Cu, 1.1% Pb,
2.4% Zn (UG12); 11.8-20.1 meters @ 32.95 opt Ag, 0.7% Cu, 6.0% Pb, 5.5% Zn
(UG16); 9.1-11 meters @ 17.8 opt Ag, 0.3% Cu, 1.6% Pb, 0.6% Zn (UG17) and
0-2.7 meters @ 7.85 opt Ag, 0.3% Cu, 1.7% Pb, 0.1% Zn (UG21).
M.J.: October 29
SONORA
Grupo Mexico SA de CV announced that the labor strikes at the Cananea
and La Caridad mines were settled by Grupo Mexico agreeing to purchase the
5% interest in the operations held by the unions for an estimated $32,000,000.
(reserve @ Cananea = 1,885,000,000 tons @ 0.62% Cu, 0.003% Mo
proven+probable-mill; @ La Caridad = 568,500,000 tons @ 0.46% Cu, 0.026%
Mo proven+probable-mill)
M.J.: November 5
Grupo Mexico SA de CV announced that it sold Minera Mexico SA de CV
to Southern Peru Copper Corp. for 67,200,000 shares. This transaction
therefore unitizes all of Grupo Mexico’s base metal operations into one
subsidiary company.
W.S.J.: October 25
Frontera Copper Ltd. announced that based on a recently completed
feasibility study for the Piedras Verdes Project, reserves aggregate 210,100,000
tons @ 0.36% Cu proven+probable mineable. (was 290,000,000 tons @ 0.33%
Cu)
N.M.: October 15
CENTRAL AMERICA
EL SALVADOR
SilverCrest Mines Ltd. announced that based on recent drill results at the
El Zapote Project, resources aggregate 2,530,000 tons @ 4.79 opt Ag, 0.004 opt
Au, 1.35% Zn, 0.36% Pb indicated and 817,300 tons @ 2.81 opt Ag, 0.003 opt
Au, 1.44% Zn, 0.37% Pb inferred. (no previous estimate)
N.M.: October 22
Pacific Rim Mining Corp. announced that it terminated its interest in the La
Calera Project due to discouraging exploration results.
N.M.: October 22
GUATEMALA
8
Glamis Gold Ltd. announced that it acquired an option to earn a 51%
interest in the Banderas and Marimba properties from Radius Gold Inc. for
$4,000,000 in exploration expenditures over 4 years.
Press Release: November 3
SOUTH AMERICA
ARGENTINA
Exeter Resource Corp. announced that recent drill results at the La
Cabeza Project include 9-30 meters @ 0.164 opt Au (LCP-120); 9-15 meters @
0.275 opt Au (LCP-127) and 0-42 meters @ 0.146 opt Au (LCP-133). (resource =
13,090,000 tons @ 0.054 opt Au inferred)
M.J.: October 22
Aquiline Resources Inc. announced that based on recent drill results at the
Calcatreu Project, resources at the Vein 49 and Nelson areas aggregate
6,820,000 tons @ 0.089 opt Au, 0.82 opt Ag indicated and 2,057,000 tons @
0.061 opt Au, 0.57 opt Ag inferred. (was 1,540,000 tons @ 0.146 opt Au, 1.14 opt
Ag indicated and 4,950,000 tons @ 0.083 opt Au, 0.79 opt Ag inferred)
M.J.: October 22
BOLIVIA
Apogee Minerals Ltd. announced that it acquired an option to earn a 51%
interest in the Santa Isabel Property from private interests for $1,100,000 cash,
100,000 shares and $1,750,000 in exploration expenditures over 3 years.
N.M.: October 15
BRAZIL
Kinross Gold Corp. announced that it will purchase an additional 51%
interest (to then hold 100%) in the Morro do Ouro Mine from Rio Tinto plc for
$260,000,000. (reserve = 407,000,000 tons @ 0.012 opt Au proven+probable)
M.J.: November 12
Hidefield plc(50%) announced that recent drill results at the Cata Preta
Project include 81.8-110.4 meters @ 0.157 opt Au (CP320); 47.3-56.5 meters @
0.107 opt Au (CP322); 23.8-26.7 meters @ 0.314 opt Au (CP325) and 30.5-43.8
meters @ 0.112 opt Au (CP325). (resource = 1,540,000 tons @ 0.112 opt Au)
M.J.: November 12
CHILE
Latin American Copper plc announced that recent drill results at the
Filipina Grande Project include 0-80 meters @ 0.50% Cu, 0.003 opt Au (FG1); 0116 meters @ 0.20% Cu, 0.001 opt Au (FG3) and 0-96 meters @ 0.36% Cu,
0.003 opt Au (FG5).
M.J.: October 22
9
BHP Billiton Ltd. announced that its Board of Directors approved the
development of the Spence Project at a capital cost of $990,000,000 to produce
220,000 tons/year of copper. (reserve = 341,000,000 tons @ 1.14% Cu
proven+probable)
M.J.: October 29
COLOMBIA
Greystar Resources Ltd. announced that recent drill results at the
Angostura Project include 52-63.65 meters @ 0.049 opt Au (ULP04-01); 174179.4 meters @ 1.778 opt Au (ULP04-02); 243-285.3 meters @ 0.085 opt Au
(AL04-15) and 215.8-227.4 meters @ 0.068 opt Au (AL04-05). (resource =
45,540,000 tons @ 0.047 opt Au indicated and 104,390,000 tons @ 0.041 opt Au
inferred)
M.J.: October 15
ECUADOR
Dynasty Metals and Mining Ltd. announced that based on recent drill
results at the Zaruma Project, resources aggregate 1,210,000 tons @ 0.519 opt
Au indicated and 2,640,000 tons @ 0.305 opt Au inferred. (no previous estimate)
N.M.: November 5
Iamgold Corp. announced that recent drill results at the Quimsacocha
Project include 134.9-236.3 meters @ 0.278 opt Au, 1.37 opt Ag, 0.4% Cu (122);
56-62 meters @ 1.020 opt Au, 2.59 opt Ag, 2.2% Cu (124); 190.5-228 meters @
0.170 opt Au, 1.24 opt Ag, 0.6% Cu (128); 155-232 meters @ 0.105 opt Au, 1.15
opt Ag, 0.3% Cu (129) and 225.5-258 meters @ 0.100 opt Au, 0.58 opt Ag, 0.2%
Cu (130).
M.J.: November 12
PERU
Sumitomo Metal Mining Co. Ltd. announced that it would purchase a 2125% interest in the Cerro Verde sulfide expansion project from Phelps Dodge
Corp. for $400-500,000,000. (resource = 1,100,000,000 tons @ 0.51% Cu)
N.M.: October 15
Cia. Minera Atacocha SAA announced that it reached agreement with the
town of Cajamarquilla whereby a new 13 ha tailings for the Atacocha Mine will be
constructed on their land. The terms for the land acquisition were not disclosed.
(reserve = 8,470,000 tons @ 0.31% Cu, 3.28% Pb, 5.29% Zn, 4.14 opt Ag
proven+probable)
M.J.: October 15
Candente Resources Ltd. announced that recent drill results at the
Canariaco Project include 66-300 meters @ 0.71% Cu (1) and 60-248 meters @
0.68% Cu (2).
N.M.: October 29
10
Cia. Minera Milpo SA announced that it rejected the recent takeover offer
from Industrias Penoles SA de CV as not favorable for its shareholders. (reserve
@ Yanacancha = 7,370,000 tons @ 7.0% Zn, 2.0% Pb, 3.0 opt Ag
proven+probable)
M.J.: October 15
The Government announced that it did not receive any bids that qualified
for the sale of the Limamayo Property (Cu).
M.J.: October 22
Absolut Resources Corp.(75%) announced that recent drill results for the
Pico Machay Project include 0-13.5 meters @ 0.095 opt Au (RC107); 0-106.5
meters @ 0.055 opt Au (RC108) and 0-12 meters @ 0.035 opt Au (RC109).
M.J.: November 5
Grupo Mexico SA de CV announced that it sold Minera Mexico SA de CV
to Southern Peru Copper Corp. for 67,200,000 shares. This transaction
therefore unitizes all of Grupo Mexico’s base metal operations into one
subsidiary company.
W.S.J.: October 25
Cambior Inc. announced that it abandoned its attempt to acquire a 55.3%
interest in the Poderosa Mine since a due diligence investigation revealed some
unresolved issues related to a portion of the mine’s land title. (reserve = 619,300
tons @ 0.551 opt Au proven+probable)
M.J.: November 12
Newmont Mining Corp.(51.35%) and Cia. De Minas Buenaventura SA
(43.65%) announced that they requested the Ministry of Energy and Resources
to cancel their exploration permit for the Cerro Quillish Property at the
Yanacocha Complex due to protests by local farmers. (reserve = 111,000,000
tons @ 0.028 opt Au proven+probable)
M.J.: November 12
VENEZUELA
Zaruma Resources Inc. announced that recent drill results at the El
Foco/Alcaravan Project include 0-37.5 meters @ 0.148 opt Au (AL39A-04); 24-48
meters @ 0.091 opt Au (AL35-04) and 60-66 meters @ 1.262 opt Au (AL32-04).
(resource = 808,500 tons @ 0.070 opt Au)
M.J.: October 22
Crystallex International Corp. announced that based on a review of past
drill results at the Las Cristinas Project, reserves aggregate 366,630,000 tons @
0.035 opt Au proven+probable and resources 70,070,000 tons @ 0.036 opt Au
measured plus 438,460,000 tons @ 0.031 opt Au indicated. (was 246,400,000
tons @ 0.039 opt Au, 0.14% Cu proven+probable and 482,900,000 tons @ 0.032
opt Au measured+indicated)
M.J.: November 12
Bolivar Gold Corp. announced that based on recent drill results at the
Choco 10 Project, reserves aggregate 23,540,000 tons @ 0.056 opt Au
proven+probable. (was 34,925,000 tons @ 0.050 opt Au measured+indicated)
11
M.J.: November 12
EUROPE
BULGARIA
Dundee Precious Metals Inc. announced that based on recent drill results
at the Chelopech Project, resources aggregate 27,423,000 tons @ 1.5% Cu,
0.117 opt Au measured+indicated. (was 19,690,000 tons @ 1.5% Cu, 0.117 opt
Au measured+indicated)
M.J.: November 12
GREECE
European Goldfields Ltd. announced that it acquired an additional 35%
interest (to now hold 65%) in Hellas Gold SA from Dimitrios Koutras and Frank
Timis for $166,000,000 in cash and shares. (resource @ Stratoni = 507,000 tons
@ 0.029 opt Au, 4.46 opt Ag; @ Olympias = 12,650,000 tons @ 0.264 opt Au,
4.04 opt Ag, 6.12% Zn, 4.6% Pb)
M.J.: November 5
IRELAND
Tournigan Gold Corp. announced that recent drill results at the
Curraghinalt Project include 58.97-59.57 meters @ 1.044 opt Au (CT-24);
149.62-150.74 meters @ 0.858 opt Au (CT-26); 214.88-215.92 meters @ 0.681
opt Au (CT-26) and 416.41-417.73 meters @ 1.962 opt Au (CT-26). (resource =
514,900 tons @ 0.497 opt Au inferred)
M.J.: October 15
SPAIN
Ormonde Mining plc(51%) announced that recent drill results at the
Salamon Project include 253-261.6 meters @ 0.135 opt Au (SS-54) and 232235.3 meters @ 0.111 opt Au (SS-56). (resource = 487,000 tons @ 0.230 opt
Au)
M.J.: October 15
Rio Narcea Gold Mines Ltd. announced that based on recent drill results
at the Salave Project, resources aggregate 16,714,500 tons @ 0.088 opt Au
measured+indicated and 3,094,300 tons @ 0.072 opt Au inferred. (was
15,000,000 tons @ 0.117 opt Au)
Press Release: November 8
TURKEY
Nuinsco Resources Ltd. announced that it acquired an option to earn a
50% interest in the Berta Property from Noranda Inc. for $200,000 cash over 4
years and $350,000 in exploration expenditures over 1 year.
M.J.: October 22
12
European Nickel plc(95%) announced that it received the first nickel
production from the trial operations at the Caldag Project. The operation
employs acid heap leaching of nickel laterite ores, the first in the world. (resource
= 41,800,000 tons @ 1.14% Ni, 0.05% Co)
M.J.: October 29
CIS
ARMENIA
Sterlite Gold Ltd. announced that based on recent studies of the Zod
Project, resources aggregate 1,760,000 tons @ 0.138 opt Au measured;
16,940,000 tons @ 0.111 opt Au indicated and 1,980,000 tons @ 0.076 opt Au
inferred. (was 2,200,000 tons @ 0.152 opt Au open-pit)
M.J.: October 22
KAZAKHSTAN
European Minerals Corp. announced that based on recent drill results at
the Varvarinskoye Project, reserves aggregate 49,830,000 tons @ 0.031 opt Au,
0.06% Cu proven+probable-oxide and 16,500,000 tons @ 0.049 opt Au, 0.81%
Cu proven+probable-sulfide. (was 54,395,000 tons @ 0.042 opt Au
proven+probable)
M.J.: November 12
RUSSIA
MMC Norilsk Nickel announced that it would develop the Severny-Gluboky
Project located on the Kola Peninsula at a capital cost of $429,400,000.
Production from the deposit is estimated at 1,400,000-tons/year nickel and
660,000-tons/year copper. (reserve = 190,630,000 tons @ 1.50% Ni, 0.69% Cu
proven+probable)
M.J.: October 22
The Government announced that an underground explosion at the
Listuyozhnaya coal mine located in Siberia resulted in the deaths of 13 miners.
M.J.: October 29
Consolidated Puma Minerals Corp. announced that recent drill results at
the East Pansky/East Chuarvi Project include 62.5-63.3 meters @ 1.129 opt
PGM (P-386); 2.9-3.9 meters @ 0.143 opt PGM (P-388); 61.4-61.9 meters @
0.368 opt PGM (P-389); 75-79.1 meters @ 0.159 opt PGM (P-391); 147.2-155
meters @ 0.089 opt PGM (P-393); 69.5-71.9 meters @ 0.061 opt PGM (P-395)
and 204.9-209.5 meters @ 0.163 opt PGM (P-401).
Press Release: November 22
UZBEKISTAN
Oxus Gold plc announced that recent drill results at the Asaukak Project
include 14-22 meters @ 0.170 opt Au (SRA18); 12-22 meters @ 0.211 opt Au
13
(SRA19); 15-29 meters @ 0.167 opt Au (SRA36); 54-60 meters @ 0.292 opt Au
(SRA44) and 19-25 meters @ 0.180 opt Au (SRA50).
M.J.: October 22
MONGOLIA
Ivanhoe Mines Ltd. announced that it acquired an option to earn a 70%
interest in the Shivee Tolgoi Property from Entrée Gold Inc. for $35,000,000 in
exploration expenditures over 8 years.
N.M.: November 5
AFRICA
BOTSWANA
Discovery Nickel Ltd.(85%) announced that based on recent drill results at
the Dikoloti Project, resources aggregate 1,320,000 tons @ 0.84% Ni, 0.46% Cu
inferred. (no previous estimate)
M.J.: October 15
BURKINA FASO
Jilbey Gold Ltd. announced that based on recent drill results at the Bissa
Hill Project, resources aggregate 1,540,000 tons @ 0.097 opt Au
measured+indicated and 116,600 tons @ 0.085 opt Au inferred. (no previous
estimate)
N.M.: October 22
Semafo Inc. announced that based on recent drill results at the Mana
Project, resources aggregate 12,001,000 tons @ 0.085 opt Au within the Wona
and Nyafe deposits. (was 5,280,000 tons @ 0.138 opt Au indicated)
M.J.: November 5
Orezone Resources Inc.(40%) announced that recent drill results at the
Essakan Project include 82-97 meters @ 0.114 opt Au (ERC741); 123-150
meters @ 0.100 opt Au (ERC708); 109-123 meters @ 0.431 opt Au (ERC759);
91-103 meters @ 0.097 opt Au (ERC761) and 107-157 meters @ 0.073 opt Au
(ERC728). (resource = 33,500,000 tons @ 0.057 opt Au indicated and 4,840,000
tons @ 0.059 opt Au inferred)
M.J.: November 12
CONGO
OM Group Inc.(53%) announced that a major electrical fault at the Big Hill
cobalt smelter in Lubumbashi resulted in some production shortfalls. No
estimate for the time required for the repairs was given.
M.J.: October 15
Anvil Mining Ltd.(90%) announced that it commissioned a 385,000ton/year ball mill and flotation circuit at the Dikulushi Mine at a capital cost of
$7,500,000. (resource = 1,870,000 tons @ 7.18% Cu, 5.89 opt Ag)
N.M.: October 15
14
Metorex Ltd. announced that it increased its interest in Ruashi Holdings
Ltd. to 68% through various share purchases for undisclosed terms. Ruashi
Holdings owns an 80% interest in the Ruashi and Etoile stockpiles (3,520,000
tons @ 1.9% Cu, 0.60% Co) as well as the Ruashi insitu deposit (35,090,000
tons @ 3.5% Cu, 0.35% Co proven+probable)
M.J.: October 15
OM Group Inc.(53%) announced that it restarted the Big Hill cobalt smelter
in Lubumbashi after completing the necessary repairs.
M.J.: October 29
Moto Gold Mines Ltd. announced that based on recent drill results at the
Moto Project, resources aggregate 7,700,000 tons @ 0.079 opt Au indicated and
39,600,000 tons @ 0.094 opt Au inferred within several separate deposits within
a 35 km2 area. (no previous estimate)
M.J.: October 29
EAST AFRICA
WMC Resources Ltd. announced that it acquired an option to earn a 30%
interest in 24 separate properties scattered throughout East Africa from Albidon
Ltd. for $2,985,000 in exploration expenditures over 2 years and $5,000,000 in
exploration expenditures on each selected property at a future date.
M.J.: October 29
ERITREA
Nevsun Resources Ltd.(90%) announced that based on recent drill results
at the Bisha Project, resources aggregate 5,478,000 tons @ 0.191 opt Au, 0.88
opt Ag indicated and 132,000 tons @ 0.098 opt Au, 0.53 opt Ag inferred – oxide
as well as 8,426,000 tons @ 0.013 opt Au, 1.04 opt Ag, 3.47% Cu, 0.87% Pb
indicated and 198,000 tons @ 0.003 opt Au, 0.88 opt Ag, 3.26% Cu, 1.04% Pb
inferred – supergene. (no previous estimate)
M.J.: October 22
GHANA
Red Back Mining Inc. announced that it will begin the development of the
Chirano Project at a capital cost of $61,600,000. (reserve = 9,580,000 tons @
0.056 opt Au proven+probable)
M.J.: October 29
St. Jude Resources Ltd.(49%) announced that based on recent drill
results at the Benso Project, resources aggregate 5,786,000 tons @ 0.084 opt
Au measured+indicated and 143,000 tons @ 0.078 opt Au inferred. (no previous
estimate)
M.J.: November 5
St. Jude Resources Ltd.(49%) announced that based on recent drill
results at the Hwini-Butre Project, resources aggregate 3,718,000 tons @ 0.135
15
opt Au measured; 2,797,000 tons @ 0.057 opt Au indicated and 264,000 tons @
0.053 opt Au inferred. (was 4,675,000 tons @ 0.120 opt Au) M.J.: November 5
KENYA
Kansai Mining Ltd. announced that based on recent drill results at the
Migoro Project, resources aggregate 24,310,000 tons @ 0.028 opt Au in the
KKM Zone; 9,350,000 tons @ 0.025 opt Au in the Gori Maria Zone; 1,540,000
tons @ 0.068 opt Au in the MK Zone and 1,100,000 tons @ 0.053 opt Au in the
Macalder tailings. (no previous estimate)
N.M.: October 22
MALI
Randgold Resources Ltd.(80%) announced that based on recent drill
results at the Laula Project, resources aggregate 17,171,000 tons @ 0.124 opt
Au measured and indicated and 19,877,000 tons @ 0.144 opt Au inferred at the
Yalea Deposit as well as 17,457,000 tons @ 0.119 opt Au measured+indicated
and 1,870,000 tons @ 0.153 opt Au inferred at the Loulo O Deposit. (was
13,310,000 tons @ 0.108 opt Au)
M.J.: November 5
NAMIBIA
Afri-Can Marine Minerals Corp.(70%) announced that based on recent drill
results at the Haib Project, resources aggregate 321,200,000 tons @ 0.46% Cu
inferred. (was 715,000,000 tons @ 0.37% Cu)
M.J.: November 5
SENEGAL
Mineral Deposits Ltd.(70%) announced that it won a tender from the
Government to develop the Sabodala Property for undisclosed terms. (reserve =
3,300,000 tons @ 0.108 opt Au)
M.J.: October 29
SIERRA LEONE
Mano River Resources Inc.(49%) announced that recent drill results at the
Yirisen/Pampana Project include 63-65 meters @ 0.378 opt Au (YDD13); 56-79
meters @ 0.045 opt Au (YDD15) and 34-43 meters @ 0.079 opt Au (YDD22).
M.J.: October 15
SOUTH AFRICA
Pan Palladium Ltd. announced that based on recent drill results at the
Aurora Project, resources aggregate 136,680,000 tons @ 0.08% Cu, 0.05% Ni,
0.040 opt PGM inferred. (was 55,440,000 tons @ 0.035 opt PGM open-pit)
M.J.: October 22
16
Anooraq Resources Corp.(50%) announced that recent drill results at the
Drenthe Project include 219-223 meters @ 0.34% Ni, 0.25% Cu, 0.124 opt PGM
(PR-140); 137.85-182 meters @ 0.12% Ni, 0.08% Cu, 0.070 opt PGM (PR-149);
159-170 meters @ 0.15% Ni, 0.10% Cu, 0.076 opt PGM (PR-152); 91-116
meters @ 0.18% Ni, 0.11% Cu, 0.078 opt PGM (PR-155); 52.7-62 meters @
0.22% Ni, 0.13% Cu, 0.090 opt PGM (PR-157) and 46-54 meters @ 0.28% Ni,
0.15% Cu, 0.075 opt PGM (PR-166). (resource = 109,340,000 tons @ 0.10% Cu,
0.16% Ni, 0.036 opt PGM inferred)
M.J.: October 29
Anooraq Resources Corp. announced that it completed its merger into
Pelawan Investments Ltd. thereby becoming a “black economic empowerment”
company, the first to hold a listing on a North American stock exchange. (Ga
Phash(50%) = 72,270,000 tons @ 0.204 opt PGM measured+indicated and
122,650,000 tons @ 0.208 opt PGM inferred on the UG2 Reef and 47,630,000
tons @ 0.129 opt PGM measured+indicated and 151,140,000 tons @ 0.126 opt
PGM inferred on the Merensky Reef)
N.M.: October 15
Anglo American Platinum Corp. Ltd.(37%) announced that it would
combine its PGM Properties on the western limb of the Bushveld Complex with
Platinum Group Metals Ltd.(37%) and Africa Wide Mineral Prospecting and
Exploration Ltd.(26%) to form an exploration joint-venture. Platinum Group will
be required to fund $5,681,800 in exploration expenditures to earn its share.
(resource = 10,010,000 tons @ 0.167 opt PGM inferred on the Merensky Reef
and 16,500,000 tons @ 0.124 opt PGM inferred on the UG2 Reef)
M.J.: October 29
Gold Fields Ltd. CEO Ian Cockerill responded to Harmony Gold Mining
Co. Ltd.’s recent takeover offer by stating “Harmony has a large number of
marginal mines and a higher risk portfolio of assets making it significantly more
sensitive to the strength of the rand. The offer therefore does not represent fair
value to Gold Fields shareholders and is proposed to be funded by overvalued
Harmony shares.”
N.M.: October 22
Gold Fields Ltd. announced that it filed a complaint in U.S. District Court
against Harmony Gold Mining Co. Ltd. seeking to block Harmony’s merger
proposal since the offer violates U.S. securities laws.
W.S.J.: November 8
Aquarius Platinum Ltd.(74.5%) announced that it received $141,450,000
from its black economic empowerment consortium led by Savannah Resources
Ltd. giving them a 29.5% interest in Aquarius Platinum (South Africa) Pty Ltd.
(resource @ Everest South = 28,655,000 tons @ 0.098 opt PGM
proven+probable on UG2 Reef)
M.J.: November 5
UGANDA
17
Uganda Gold Mining Ltd. announced that it acquired an option to earn a
70% interest in the Kilembe Property from Kilembe Mines Ltd. by financing all
expenditures required to complete a bankable feasibility study. (resource =
3,410,000 tons @ 0.18% Co, 0.97% Cu inferred and 5,720,000 tons @ 0.12%
Co, 0.18% Cu in tailings)
N.M.: November 5
ZAMBIA
Albidon Ltd. announced that recent drill results at the Munali Project
include 152-158.5 meters @ 1.98% Ni, 0.15% Cu, 0.10% Co, 0.042 opt PGM
(MAD045); 254.4-263 meters @ 1.34% Ni, 0.13% Cu, 0.07% Co, 0.022 opt PGM
(MAD048); 226.8-236.8 meters @ 1.18% Ni, 0.15% Cu, 0.06% Co, 0.024 opt
PGM (MAD049) and 321-343 meters @ 2.29% Ni, 0.35% Cu, 0.11% Co, 0.035
opt PGM (MAD050). (resource = 6,270,000 tons @ 0.11% Cu, 0.75% Ni, 0.05%
Co, 0.024 opt PGM open-pit)
M.J.: October 15
AUSTRALIA
NEW SOUTH WALES
Alkane Exploration Ltd. announced that recent drill results at the
Tomingley/Wyoming Project include 297-314 meters @ 0.138 opt Au (WY812);
45-84 meters @ 0.128 opt Au (WY816); 156-210 meters @ 0.043 opt Au
(WY817) and 222-252 meters @ 0.050 opt Au (WY818). (resource = 4,150,000
tons @ 0.073 opt Au measured and 863,500 tons @ 0.098 opt Au indicated)
M.J.: October 15
Alkane Exploration Ltd. announced that recent drill results at the
Wellington/Galwadgere Project include 28-35 meters @ 1.05% Cu, 0.001 opt Au
(GAL019); 57-96 meters @ 0.94% Cu, 0.013 opt Au (GAL022) and 96-132
meters @ 0.89% Cu, 0.007 opt Au (GAL025).
M.J.: November 5
QUEENSLAND
Conquest Mining Ltd. announced that recent drill results at the Mount
Carlton Project include 28-36 meters @ 0.037 opt Au, 0.45 opt Ag (MC04RC33);
70-76 meters @ 0.178 opt Au, 1.13 opt Ag (MC04RC45); 86-92 meters @ 0.077
opt Au, 0.52 opt Ag (MC04RC50); 35-55 meters @ 0.103 opt Au, 1.80 opt Ag
(MC04DD03) and 55-57 meters @ 0.455 opt Au, 0.96 opt Ag (MC04DD05).
(resource = 385,000 tons @ 0.091 opt Au, 0.13 opt Ag inferred at Herbert Creek
East zone)
M.J.: November 5
SOUTH AUSTRALIA
Harilah Resources NL announced that recent drill results at the Kalkaroo
Project include 93-132 meters @ 0.97% Cu, 0.038 opt Au (KKRC014); 108-186
18
meters @ 0.81% Cu, 0.022 opt Au (KKRC016); 113-165 meters @ 0.80% Cu,
0.025 opt Au (KKRC018); 105-147 meters @ 1.37% Cu (KKRC022) and 90-132
meters @ 0.049 opt Au (KKRC022).
M.J.: October 15
Minotaur Resources Ltd.(35%) announced that recent drill results at the
Prominent Hill Project include 435-504 meters @ 2.34% Cu, 0.007 opt Au
(PH04D079); 394-406.05 meters @ 1.36% Cu, 0.018 opt Au (PH04D085); 599691 meters @ 1.25% Cu, 0.015 opt Au (PH04D082) and 249.8-254 meters @
4.36% Cu, 0.011 opt Au (PH04D086). (resource = 106,700,000 tons @ 1.5% Cu,
0.015 opt Au inferred)
M.J.: October 22
Oxiana Ltd. announced that it offered to acquire Minotaur Resources Ltd.
for shares based on a valuation of $1.73/share Minotaur. If the acquisition is
successful, Oxiana will then own a 100% interest in the Prominent Hill Project.
(resource = 106,700,000 tons @ 1.5% Cu, 0.015 opt Au inferred)
M.J.: November 12
Teck Cominco Ltd. announced that it acquired an option to earn a 70%
interest in either the Cowell, Port Julia or Red Hill properties from Avoca
Resources Ltd. for $740,700 in exploration expenditures over 4 years.
M.J.: October 22
Xstrata plc announced that it offered to acquire WMC Resources Ltd. for
$4.74/share in cash for a total value of $5,522,400,000. (reserve @ Olympic Dam
= 781,000,000 tons @ 1.6% Cu, 0.015 opt Au, 0.07% U3O8 proven+probable)
N.M.: November 5
WMC Resources Ltd. announced that its Board of Directors recommended
to its shareholders that they reject the recent takeover offer from Xstrata plc as
inadequate.
M.J.: October 29
Southern Cross Resources Inc announced that it will defer the
development of the Honeymoon Project due to higher development costs related
to the weakening U.S. dollar. (resource = 4,995,500 tons @ 0.15% U3O8)
N.M.: November 5
WESTERN AUSTRALIA
Great Australian Resources Ltd. announced that recent drill results at the
Carboys Project include 12-16 meters @ 0.114 opt Au (GRC4); 36-40 meters @
0.120 opt Au (GRC8); 32-60 meters @ 0.110 opt Au (GRC18) and 32-36 meters
@ 0.445 opt Au (GRC24). (resource = 1,309,000 tons @ 0.045 opt Au)
M.J.: October 22
19
Teck Cominco Ltd. announced that it acquired an option to earn a 60%
interest in the Kalgoorlie East Property from Avoca Resources Ltd. for $740,700
in exploration expenditures over 4 years.
M.J.: October 22
Titan Resources NL announced that it began the start-up of operations at
the Armstrong Mine. (reserve = 1,008,700 tons @ 1.86% Ni proven+probable)
M.J.: October 22
LionOre Mining International Ltd. announced that it offered to acquire the
nickel assets of MPI Mines Ltd. for $211,100,000 in cash and shares. (Black
Swan(80%) = 880,000 tons @ 6.3% Ni proven+probable; Honeymoon Well =
148,500,000 tons @ 0.80% Ni, 0.07% Co as a sulfide resource)
N.M.: October 22
Xstrata plc announced that it offered to acquire WMC Resources Ltd. for
$4.74/share in cash for a total value of $5,522,400,000. (reserve @ Leinster =
20,900,000 tons @ 1.8% Ni proven+probable underground; @ Mount Keith =
328,900,000 tons @ 0.56% Ni, 0.08% Co proven+probable open-pit)
N.M.: November 5
WMC Resources Ltd. announced that its Board of Directors recommended
to its shareholders that they reject the recent takeover offer from Xstrata plc as
inadequate.
M.J.: October 29
Teck Cominco Ltd. announced that it recorded a $42,622,900 write-down
of its 9% shareholding in Sons of Gwalia Ltd. (now in receivership)
M.J.: October 29
CBH Resources Ltd. announced that it acquired an option to earn a 100%
interest in the Sulphur Springs Property from Sipa Resources Ltd. for $2,272,700
cash. (reserve = 4,840,000 tons @ 1.8% Cu, 5.6% Zn probable)
M.J.: November 12
CBH Resources Ltd. announced that it acquired an option to earn a 60%
interest in the Panorama Property from Sipa Resources Ltd. for $3,030,000 in
exploration expenditures. (resource @ Kangaroo Caves = 1,870,000 tons @
0.6% Cu, 9.8% Zn; @ Bernts = 660,000 tons @ 0.3% Cu, 7.8% Zn)
M.J.: November 12
Rox Resources Ltd. announced that recent drill results at the Lady
Shenton Project include 5-8 meters @ 0.967 opt Au (LSRC0004); 12-16 meters
@ 0.167 opt Au (BMRC0001) and 40-44 meters @ 0.060 opt Au (BMRC0006).
M.J.: November 12
ASIA
20
CHINA
The Government announced that an underground explosion at the Daping
coalmine in Henan Province resulted in the deaths of 56 workers and left 148
missing.
M.J.: October 22
VVC Exploration Ltd. announced that it acquired an option to earn a 50%
interest in the Chen Er, 550-tpd operating mine (Au) in Shaanxi Province from
private interests for $4,000,000 in exploration expenditures over 4 years.
N.M.: October 15
China Minmetals Corp. announced that it will take-over the assets of
Liuzhou China Tin Group Co. in Guangxi Province for undisclosed terms.
(Gaofeng/Dachang Mine = 127,000,000 tons @ 1.0% Sn as a resource)
M.J.: October 22
APAC Minerals Ltd.(84%) announced that recent drill results at the Nibao
Project in Guizhou Province include 22-31.7 meters @ 0.205 opt Au (44).
N.M.: October 15
Zijin Mining Group Ltd. and Baiyan Nonferrous Metals Co. announced that
they have abandoned their previously announced merger plans.
M.J.: November 5
Afcan Mining Corp.(85%) announced that recent drill results at the
Tanjianshan/Jinlonggou Project include 74,62-84.57 meters @ 0.182 opt Au
(JD009); 44.02-58.78 meters @ 0.107 opt Au (JD041); 119.9-129.13 meters @
0.307 opt Au (JD115); 92.97-126 meters @ 0.284 opt Au (JD118) and 71.4-88.2
meters @ 0.098 opt Au (JD142). (resource = 2,530,000 tons @ 0.153 opt Au
indicated)
M.J.: November 5
Tonling Nonferrous Metals Group announced the start-up of operations at
the Dongguashan Mine anticipated to produce 390,000 tons/year of copper in
concentrate. No capital cost estimates for the project were given. (reserve =
102,050,000 tons @ 1.01% Cu)
M.J.: November 5
Majestic Gold Corp.(90%) announced that recent drill results at the
Sawayaerdun Project in Xinjiang Province include 252-281 meters @ 0.063 opt
Au (SW04-01); 314-368 meters @ 0.045 opt Au (SW04-02); 170-220 meters @
0.042 opt Au (SW04-03); 168-213 meters @ 0.061 opt Au (SW04-04) and 65125 meters @ 0.035 opt Au (SW04-05).
M.J.: November 12
INDONESIA
21
Avocet Mining plc(80%) announced that it received the first gold pour from
the start-up of operations at the North Lanut Mine. (resource = 12,870,000 tons
@ 0.044 opt Au, 0.15 opt Ag)
M.J.: October 15
PT Inco Indonesia Ltd. announced that it will construct a 90 MW
hydroelectric dam and generator on the Larona River at a capital cost of
$150,000,000 as part of its 25% expansion of the Sorowako Mine to 99,880
tons/year of nickel. The new dam will increase its generating capacity at the
mine to 365 MW. (reserve = 117,700,000 tons @ 1.81% Ni, 0.08% Co
proven+probable)
M.J.: October 15
Weda Bay Minerals Inc. announced that based on recent drill results at
the Halmahera Island Project, resources aggregate 170,500,000 tons @ 1.45%
Ni, 0.09% Co measured+indicated and 135,900,000 tons @ 1.58% Ni, 0.08% Co
inferred. (was 200,200,000 tons @ 1.37% Ni, 0.11% Co measured+indicated and
90,200,000 tons @ 1.33% Ni, 0.12% Co inferred)
M.J.: October 15
Newcrest Mining Ltd.(82.5%) announced that based on recent drill results
at the Kencana Project, resources aggregate 715,000 tons @ 1.318 opt Au
indicated and 1,100,000 tons @ 1.113 opt Au inferred. (was 341,000 tons @
2.022 opt Au, 1.35 opt Ag indicated and 583,000 tons @ 0.762 opt Au, 1.41 opt
Ag inferred)
M.J.: October 15
Newmont Mining Corp. announced that its 5 employees that were arrested
for alleged pollution from the now closed Minahasa Mine were released after
being held by authorities for over 1-month.
N.M.: October 29
JAPAN
Sumitomo Corp. announced that it settled a lawsuit with Credit Lyonnais
Rouse related to the 1996 copper trading scandal for undisclosed terms.
M.J.: October 29
LAOS
Pan Australian Resources NL(80%) announced that recent drill results at
the Phu Kham Project include 302-326 meters @ 1.4% Cu, 0.015 opt Au
(GRD51) and 140-228 meters @ 1.1% Cu, 0.020 opt Au (GRD53). (resource =
118,800,000 tons @ 0.80% Cu, 0.009 opt Au inferred)
M.J.: November 5
Oxiana Ltd. announced that based on recent drill results at the Sepon
Project, resources aggregate 27,706,000 tons @ 0.078 opt Au oxide and
20,053,000 tons @ 0.080 opt Au, 0.19 opt Ag sulfide as well as 29,667,000 tons
@ 4.25% Cu, 0.58 opt Ag sulfide. (was 10,010,000 tons @ 0.094 opt Au, 0.16
opt Ag proven+probable and additional resources of 39,600,000 tons @ 0.094
opt Au, 2.9% Cu)
M.J.: October 29
22
NEW CALEDONIA
Inco Ltd.(85%) announced that it would proceed with the development of
the Goro Project. The revised capital cost estimate for the project now
aggregates $1,880,000,000 (was $2,000,000,000) to produce 66,000 tons/year
of nickel. (reserve = 59,400,000 tons @ 1,53% Ni, 0.126% Co proven+probable)
N.M.: October 22
PAPUA NEW GUINEA
Allied Gold Ltd.(50%) announced that recent drill results at the Sorowar
Project include 15-37 meters @ 0.072 opt Au (RC910); 0-70 meters @ 0.032 opt
Au (RC911); 16-38 meters @ 0.090 opt Au (RC914) and 0-80 meters @ 0.036
opt Au (RC920). (resource = 31,900,000 tons @ 0.047 opt Au)
M.J.: October 15
PHILIPPINES
AngloGold Ashanti Ltd. announced that it acquired 31,000,000 shares
(12.3%) of Red 5 Ltd. for $4,014,600.
M.J.: October 15
THAILAND
Kingsgate Consolidated Ltd. announced that reserves at the Chatree Mine
aggregate 16,060,000 tons @ 0.061 opt Au, 0.41 opt Ag proven+probable. (was
9,020,000 tons @ 0.091 opt Au proven+probable)
M.J.: October 22
VIETNAM
Asian Mineral Resources Ltd.(70%) announced that recent drill results at
the Ban Phuc Project include 217.8-221.5 meters @ 1.78% Ni, 0.97% Cu, 0.04%
Co (04-39); 130.4-135.3 meters @ 2.13% Ni, 0.79% Cu, 0.06% Co (04-40);
264.2-268.2 meters @ 4.03% Ni, 2.67% Cu, 0.13% Co (04-47) and 228.2-236.1
meters @ 5.16% Ni, 1.67% Cu, 0.18% Co (04-49). (resource = 9,350,000 tons @
0.76% Ni, 0.12% Cu, 0.01% Co indicated and 39,270,000 tons @ 0.56% Ni,
0.02% Cu inferred)
M.J.: November 12
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