R/€ = 15.73 Change: -0.10
R/$ = 13.84 Change: -0.12
Au 1281.42 $/oz Change: -12.44
Pt 794.99 $/oz Change: -8.87

Exploration News

Australian junior to explore for nickel at Barrick mine

By: Liezel Hill     6th June 2008 ASX-listed Apex Minerals has entered into a second joint venture (JV) with gold giant Barrick Gold, in which Apex and its partner Carey Mining can earn a 70% interest in the nickel rights on certain tenements owned by Barrick's Lawlers mine, in western Australia.  

Diamond-miner Trans Hex cuts costs despite inflationary pressure

By: Martin Creamer     6th June 2008 Embattled diamond miner Trans Hex is coming down the cost curve despite rising inflation. Trans Hex has created a low-cost model at its once-problematic Bloedrif operation, which it is now able to migrate to Angola. Bloedrif - where costs were at a high R129/m3 or R52/t - has been recommissioned... 

Great Panther resuscitates four-century-old mine

By: Liezel Hill     5th June 2008 Vancouver-based silver miner Great Panther Resources this week hosted an event to celebrate the reopening and rejuvenation of its Guanajuato mining complex, in Central Mexico.  

Crystallex to appeal to Venezuela minister over Las Cristinas permit denial

By: Liezel Hill     30th May 2008 Toronto-based Crystallex International has been advised that a legal rebuttal filed by the company, against a decision to refuse an exploration permit at the company's Las Cristinas project, has been denied. The company has the right to appeal to the Minister of the Environment and Natural... 

Teal reports encouraging results from DRC copper prospect

By: Liezel Hill     30th May 2008 TSX- and JSE-listed Teal Exploration & Mining on Friday published additional high-grade drilling intersections from its Lupoto copper prospect, in the Democratic Republic of Congo (DRC).  

Canadian explorer appoints CFO

30th May 2008 Halifax, Nova Scotia-based Merrex Gold has appointed Gary MacKenzie as CFO effective June 1, the company said on Friday. 

SA major teams up with local number one to explore in Peru

By: Keith Campbell     30th May 2008 With its new Cerro Corona mine in Peru due to start production in July, South African gold major Gold Fields Limited is hopeful of finding further similar such deposits in the highly prospective South American country. To this end, Gold Fields has an exploration joint venture (JV) with... 

Australian explorer raises stake in SA PGM project

29th May 2008 ASX- and Aim-listed platinum-group metals (PGMs) exploration company Platinum Australia would acquire a further 10,75% stake in the Smokey Hills platinum project in South Africa, bringing its stake to 69,75%, the company said in a statement on Thursday. The company would first acquire an... 

Erdene reports 435mlb resource at Mongolia molybdenum project

By: Liezel Hill     28th May 2008 Nova Scotia-based Erdene Gold has completed a NI 43-101-compliant resource estimate for its 100%-owned Zuun Mod molybdenum project, in Mongolia, the company said on Wednesday. 

Keaton Energy increases Delmas coal resource

By: Chanel de Bruyn     28th May 2008 JSE-listed coal junior Keaton Energy on Wednesday reported a 61,4% increase to 97-million tons in mineable on site coal in the measured category at its Delmas project, in Mpumalanga province, up from 60,1-million tons as reported in March. MD Paul Miller said the increase followed the drilling... 

Avion begins work at Mali project

By: Liezel Hill     27th May 2008 Toronto-based Avion Resources has put a team on the ground at its newly-acquired Tabakoto mine, in Mali, and plans to award a tender for a 15 000 m drilling programme this week, the firm said on Tuesday. Avion said in March that it hoped to be producing gold in Mali by the end of next year,... 

Iamgold grants junior earn-in option on Brazil proprty

By: Liezel Hill     23rd May 2008 Vancouver-based exploration fiVancouver-based exploration firm Amarillo Gold and mid-tier precious-metals miner Iamgold have signed a heads of agreement, giving the smaller company the right to buy up to 80% of a 7 000-ha exploration property in Brazil.  

Bannerman names Geoff Stanley as new chairperson

By: Liezel Hill     22nd May 2008 Perth-based uranium exploration and development company Bannerman Resources has appointed Geoff Stanley as the chairperson on the company's board. 

Canadian junior on the fast track to reopen former Billiton mine 

By: Liezel Hill     22nd May 2008 Toronto-based Adex Mining hopes to be in a position this time next year to make a production decision on its Mount Pleasant project, in New Brunswick, Canada, which could then see it producing its first metal in 2010. Mount Pleasant was built and developed by the then Billiton in the eighties,... 

African Gold files resource estimate for Mali prospect

By: Liezel Hill     20th May 2008 TSX Venture Exchange-listed African Gold Group has filed a NI 43-101-compliant resource estimate for zone one of its Kobada gold project, in Mali, the firm said on Tuesday. 

Bannerman commissions feasibility study for Namibia uranium mine

By: Liezel Hill     20th May 2008 Perth-based Bannerman Resources has awarded a contract to engineering firm GRD Minproc to complete a full feasibility study for a uranium mine at the company's Goanikontes Anomaly A project, in Namibia. The study, which will begin immediately, is expected to be completed in the first... 

Brinkley takeover talks terminated, chair, FD resign

By: Liezel Hill     20th May 2008 UK-based uranium exploration company Brinkley Mining said on Tuesday that discussions regarding a possible offer for the company had been called off, and that chairperson Gerard Holden would step down from the board with effect from May 31. 

Xstrata, Erdene to fund study for Nova Scotia coal project

By: Liezel Hill     16th May 2008 The Donkin Coal alliance, in which Xstrata Coal Canada owns 75% and the balance is held by TSX-listed Erdene Gold, will go ahead with a feasibility study for an evaluation and development programme (EDP) at the alliance's Donkin project, in Nova Scotia, Canada. The study, which was expected... 

Adriana appoints operations chief

By: Liezel Hill     16th May 2008 Vancouver-based Adriana Resources has appointed Michael Petrina as VP of operations, the company said on Friday. 

Kinross buys stake in exploration firm

By: Liezel Hill     16th May 2008 Canadian gold miner Kinross Gold has subscribed for 5-million shares in Rye Patch Gold in a private placement, the companies said on Friday. 

Gold Fields sells holding in explorer

By: Liezel Hill     16th May 2008 Gold major Gold Fields has sold its entire 6% stake in Emed Mining Public in a private placement to institutional investors, Emed said on Friday. 

AngloGold, B2Gold wrap up Colombia transaction

By: Liezel Hill     16th May 2008 Gold major AngloGold Ashanti and Canadian junior B2Gold have completed a series of transactions announced in February, when AngloGold agreed to swap its interest in several exploration properties in Colombia for a 15,9% stake in the Vancouver-based company. 

Rio Tinto increases US copper resource to 637mt

By: Liezel Hill     16th May 2008 Diversified miner Rio Tinto has increased the mineral resources at its Kennecott copper unit, in the US, to 637-million tons, an increase of 628-million tons over a December 2007 estimate, the company said.  

Junior explorer to start production at Botswana mine

By: Chanel de Bruyn     16th May 2008 Base-metals exploration company African Copper on Friday said its Mowana mine, in Botswana, would start production in the second quarter of this year, which would change the junior explorer into a copper producer. Cold commissioning of the mine was now ongoing, with ramp up to production to... 

Lesotho grants Thabex extension to gem prospecting lease

By: Liezel Hill     14th May 2008 JSE-listed junior Thabex has been granted a 12-month extension to a prospecting lease in Lesotho, the company said on Wednesday. 

Platmin secures R350m bridging for Pilanesberg project

By: Matthew Hill     14th May 2008 Emerging platinum junior Platmin has concluded a bridge-loan facility woth R350-million with South African banking group Standard Bank, which it would put towards developing its flagship Pilanesberg project, the company said on Wednesday. 

Silver Standard hikes reserves 43% at Argentina project

By: Liezel Hill     14th May 2008 Vancouver-based Silver Standard Resources has increased the proven and probable silver reserves at its Pirquitas project, in northwestern Argentina, by 43%, to 195,1-million ounces, the firm said on Wednesday.  

African Eagle says JV partner won’t take stake in Zambian copper project

13th May 2008 UK-based mineral resources company African Eagle Resources on Tuesday reported that its joint-venture partner in the Zambian Ndola copper project, Phelps Dodge Mining Zambia (PDMZ), had decided not to take an interest in the project, which would remain 100% owned by African Eagle. PDMZ, which... 

Aurizon commissions study on Quebec gold prospect

By: Liezel Hill     12th May 2008 TSX-listed Aurizon Mines has commissioned Montreal-based BBA Inc to conduct a prefeasibility study on the company's Joanna gold project, in Quebec, Canada. BBA has completed a preliminary assessment on the project, and believes that the deposit could support a viable standalone openpit... 

Former South Deep boss Thompson joins Camec

By: Mariaan Webb     12th May 2008 London-listed Camec has appointed former South Deep chief, Gordon Thompson, to manage and develop its recently acquired platinum assets in Zimbabwe, the company announced on Monday. Camec bought former Anglo Platinum-owned platinum properties through the acquisition of British firm Lever Finance... 

One down, four to go as Agnico-Eagle pours first gold at Goldex 

By: Liezel Hill     9th May 2008 One might be forgiven for wondering whether someone at Canadian gold miner Agnico-Eagle Mines has a penchant for the number five. The company has just poured the first gold bar at the first of five mines that it will commission over the next eighteen months, in order to grow production by five... 

Prefeasiblity study for Zambian uranium project completed - Albidon

9th May 2008 Africa-focused AIM-listed and ASX-listed exploration company, Albidon, on Friday announced that its joint-venture (JV) partner in the Zambian Chirundu uranium project, African Energy Resources (AFR), had earned a 70% interest in the JV, after completing the prefeasibility study (PFS) of the... 

Diamond-miner sees output doubling as African projects start production

By: Brindaveni Naidoo     9th May 2008 Diamond-miner Gem Diamonds expects that it will be able to double its current production level in Africa as its projects across the continent start production. 

Dwyka may buy 30% in Philippines coal prospect

By: Liezel Hill     7th May 2008 Aim- and ASX-listed Dwyka Resources has signed an option agreement giving it the right, subject to shareholder approval, to buy a 30% stake in two adjacent coal deposits, on the Philipines island of Mindanao, the company said on Wednesday.  

World gold supply trend 'tragic' – Barrick founder Munk

By: Liezel Hill     6th May 2008 The failure of the gold-mining industry to find and exploit large new deposits of the yellow metal was “tragic”, Barrick Gold chairperson and acting CEO Peter Munk said on Tuesday. 

African Eagle posts £1,1m loss, chairperson laments share price performance

By: Matthew Hill     6th May 2008 Copper and gold hopeful African Eagle Resources on Tuesday posted a £1,1-million loss for 2007 and a headline loss of 0,6p a share, as it continued exploratory work and prefeasibility studies on its projects in eastern and southern Africa. The company was now conducting a full bankable... 

Canadian junior hunts for platinum in Ontario

By: Liezel Hill     2nd May 2008 At present, Canada's contribution to world platinum-group metals production is largely dominated by palladium, and not very much of it, at that. However, the winds may be about to change, thanks to a small, Ottawa-based exploration company, which believes it has found a complex with... 

Bannerman gathers momentum at Namibian uranium prospect

By: Liezel Hill     2nd May 2008 Australia-based Bannerman Resources is building a new sample preparation laboratory in Swakopmund, to speed up the processing of drill sample results from its 80%-owned Goanikontes uranium prospect, in Namibia, the firm said on Friday. 

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