AngloGold Ashanti Limited is a global gold mining company. It was formed in 2004 by the merger of AngloGold and the Ashanti Goldfields Corporation.AngloGold Ashanti Limited is now a global gold producer with 21 operations on four continents. The company is listed on the New York, Johannesburg, Accra, London and Australian stock exchanges, as well as the Paris and Brussels bourses.In 2008, AngloGold produced 4.98 million ounces of gold from its operations, estimated to be seven percent of the global production. In 2009, the company's gold output dropped to 4.6 million ounces. Wikipedia.
News Article | November 14, 2016
JOHANNESBURG, SOUTH AFRICA--(Marketwired - November 14, 2016) - AngloGold Ashanti ( : AU) announced a significant jump in third-quarter free cash flow to $161m, further improving its net debt position despite a decline in ore grades at some of its operations and a challenging operating environment for its South African business. Free cash flow was $161m, before the $30m once-off cost incurred for the early repayment of its high-yield bond, the Company's most expensive debt. The free cash flow generation for the three months through September 30 was a significant improvement on the $50m outflow in the third quarter of 2015, and 49% more than the $108m generated in the first half of this year. AngloGold Ashanti has for the past three years delivered on a range of self-help measures to cut debt, using internally generated funds without diluting shareholders. Whilst it was indicated previously that costs would be higher in the second half of the year, the increase was exacerbated by a poor performance in South Africa, a delay in accessing higher grades in Brazil, capital expenditure absorbed over fewer ounces, and strengthening currencies. "We generated strong free cash flow in the third quarter, taking this year's cumulative free cash flow to nearly a quarter of a billion dollars, further reducing debt," Chief Executive Officer Srinivasan Venkatakrishnan said. "Work is already well advanced to turn around our operating performance in the near term by improving volumes and accessing higher grades as per our plans, and over the medium term by investing in our low-capital, high-return brownfields projects." Production in the third quarter was 900,000oz compared to 974,000oz in the third quarter of last year, which included a combined 32,000oz from Cripple Creek & Victor and Obuasi, which have been sold and idled respectively. Moab Khotsong, Mponeng, Iduapriem, Siguiri and Serra Grande delivered improved performances. Total output from South Africa dipped 7% year-on-year to 235,000oz, mainly due to lower average recovered ore grades from underground. The Company's mines in South Africa faced stoppages following three fatalities in July. Lower production from the AngloGold Ashanti's International Operations of 665,000oz, compared with 702,000oz in the third quarter of last year, was mainly a result of lower ore grades as planned, at both Tropicana and Geita, as well as delays in accessing high-grade ore at its operation in Brazil. For the first nine months of the year, all-in sustaining costs were $965/oz, an increase of 4% compared to the same period the prior year. Cash costs per ounce increased by 8% to $797/oz compared to $735/oz in the third quarter of the previous year, mainly as a function of lower grades, lower units of production, and inflation. All-in sustaining costs were $1,071/oz, a 14% year-on-year increase which reflects the increase in total cash costs, exploration, corporate and marketing costs and a planned increase in capital expenditure. Adjusted earnings before interest, tax, depreciation and amortisation (Adjusted EBITDA) rose by 36% to $395m in the third quarter, from $291m in the corresponding period of last year. Net debt to Adjusted EBITDA ended the quarter at 1.26 times, lower than the 1.54 times recorded in the corresponding period last year. Debt levels remain well below the covenant of net debt to Adjusted EBITDA of 3.5 times under our revolving credit facilities. Regrettably, there were three fatalities in the South Africa region in July following falls-of-ground and tramming-related incidents, and one in Brazil at Cuiabá following a heavy mobile equipment accident that involved a contractor. Despite these setbacks, there were notable successes, with Continental Africa region the stand out performer, while the Vaal River Mines achieved two million fatality-free shifts during the quarter with Moab Khotsong reaching one calendar year without a fatality on 4 September, and Kopanang achieving 1-million-fatal-free shifts on 1 July. Our priority remains the successful execution of our safety strategy to improve our underlying safety performance. Production from the South African mines continues to be affected by safety-related stoppages, predominantly those under Section 54 of the Mine Health and Safety Act. As recommended by the Department of Mineral Resources, AngloGold Ashanti will continue to pursue dialogue with the regulator around this issue and to use appropriate official channels to address challenges with the application of Section 54 of the Act. The outlook for production for the full year has been narrowed but remains within the original guidance. The cost guidance has been revised primarily due to the strengthening of local currencies. The revised outlook is as follows: Production between 3.6Moz and 3.65Moz (previously 3.6Moz and 3.8Moz); Total cash costs between $730/oz and $750/oz; (previously $680/oz and $720/oz); AISC between $980/oz and $1,010/oz; (previously $900/oz and $960/oz); and the outlook for capital expenditure has been narrowed to between $790m and $820m, from $790m to $850m previously. (Assuming updated average exchange rates against the US dollar of 14.60 (Rand), 3.50 (Brazil Real), $0.75 (Aus$) and 14.80 (Argentina Peso), with oil at $43/bl average for the year, based on achieved actual rates to date and market expectations for the next quarter). Both production and cost estimates assume neither labour interruptions, power disruptions and changes to asset portfolio and/or operating mines. In addition, the cost guidance includes the rebate of certain port duties in Argentina. Other unknown or unpredictable factors could also have material adverse effects on our future results. Certain statements contained in this document, other than statements of historical fact, including, without limitation, those concerning the economic outlook for the gold mining industry, expectations regarding gold prices, production, total cash costs, all-in sustaining costs, all-in costs, cost savings and other operating results, productivity improvements, growth prospects and outlook of AngloGold Ashanti's operations, individually or in the aggregate, including the achievement of project milestones, commencement and completion of commercial operations of certain of AngloGold Ashanti's exploration and production projects and the completion of acquisitions, dispositions or joint venture transactions, AngloGold Ashanti's liquidity and capital resources and capital expenditures and the outcome and consequence of any potential or pending litigation or regulatory proceedings or environmental health and safety issues, are forward-looking statements regarding AngloGold Ashanti's operations, economic performance and financial condition. These forward-looking statements or forecasts involve known and unknown risks, uncertainties and other factors that may cause AngloGold Ashanti's actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied in these forward-looking statements. Although AngloGold Ashanti believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. Accordingly, results could differ materially from those set out in the forward-looking statements as a result of, among other factors, changes in economic, social and political and market conditions, the success of business and operating initiatives, changes in the regulatory environment and other government actions, including environmental approvals, fluctuations in gold prices and exchange rates, the outcome of pending or future litigation proceedings, and business and operational risk management. For a discussion of such risk factors, refer to AngloGold Ashanti's annual report on Form 20-F for the year ended December 31, 2015 filed with the United States Securities and Exchange Commission on March 31, 2016. These factors are not necessarily all of the important factors that could cause AngloGold Ashanti's actual results to differ materially from those expressed in any forward-looking statements. Other unknown or unpredictable factors could also have material adverse effects on future results. Consequently, readers are cautioned not to place undue reliance on forward-looking statements. AngloGold Ashanti undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except to the extent required by applicable law. All subsequent written or oral forward-looking statements attributable to AngloGold Ashanti or any person acting on its behalf are qualified by the cautionary statements herein. This communication may contain certain "Non-GAAP" financial measures. AngloGold Ashanti utilises certain Non-GAAP performance measures and ratios in managing its business. Non-GAAP financial measures should be viewed in addition to, and not as an alternative for, the reported operating results or cash flow from operations or any other measures of performance prepared in accordance with IFRS. In addition, the presentation of these measures may not be comparable to similarly titled measures other companies may use. AngloGold Ashanti posts information that is important to investors on the main page of its website at www.anglogoldashanti.com and under the "Investors" tab on the main page. This information is updated regularly. Investors should visit this website to obtain important information about AngloGold Ashanti. The financial information, including any forward-looking information, set out in this announcement has not been reviewed and reported on by the Company's external auditors. AngloGold Ashanti Limited Incorporated in the Republic of South Africa Reg No: 1944/017354/06 ISIN: ZAE000043485 - JSE share code: ANG-CUSIP: 035128206 - NYSE share code: AU Website: www.anglogoldashanti.com
News Article | November 23, 2016
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S. NV Gold Corporation (TSX VENTURE:NVX) (the "Company") announced today that it has closed on subscriptions for 2,723,000 in Units at CDN$0.30 per Unit of the non-brokered private placement of Units of the Company originally announced on November 2, 2016 (the "Placement") for gross proceeds of CDN$816,900. Each Unit issued consists of one Share and one-half of one Warrant exercisable at CDN$0.60 per share until November 22, 2018. The expiry date of each whole Warrant is subject to acceleration such that, should the volume weighted average price of the common shares of the Company exceed CDN$1.00 for ten consecutive trading days, the Company may notify the holder in writing that the Warrants will expire 20 trading days from receipt of such notice unless exercised by the holder before such date. The Units and any shares of the Company issued on exercise of the Warrants forming part of the Units are subject to a hold period expiring on March 23, 2017. The proceeds of the Placement will be used by the Company for review of the AngloGold Ashanti database covering Nevada that it recently acquired, for new property acquisition, for exploration of properties and for general working capital. The Company paid a fee of CDN$42,000 in respect of market advisory services relating to the Placement. John Watson, CEO of the Company subscribed to the Placement for CDN$90,000 and was issued 300,000 Units. On behalf of the Board of Directors, Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the proposed uses of funds raised, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include regulatory issues, market prices, availability of capital and financing, general economic, market or business conditions, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
News Article | November 8, 2016
TORONTO, ONTARIO--(Marketwired - Nov. 8, 2016) - Pelangio Exploration Inc. (TSX VENTURE:PX)(OTC PINK:PGXPF) ("Pelangio" or the "Company") announces that it has entered into an option and joint venture agreement (the "Option Agreement"), with Roscan Minerals Corporation ("Roscan") dated November 7, 2016, pursuant to which the parties established an earn-in arrangement to jointly advance the Dormaa Project in Ghana, West Africa. To earn its 50% interest, Roscan shall: "Unregulated artisanal and mechanized alluvial operations surrounding the property were identified using satellite imagery and appear to be sourced by large gold-in-soil anomalies on the Dormaa Project," stated Ingrid Hibbard, President and CEO. "During the first year of the option agreement, Roscan shall fund $300,000 to cover expanded gold-in-soil geochemical surveys, prospecting and approximately 3,000 metres of reverse circulation and air core or rotary air blast drilling to be completed by Pelangio." The Dormaa Project is an 86.44 square kilometer ("km2") concession governed by a Prospecting License in the Brong-Ahafo Region of Ghana, West Africa. Pelangio, through its indirectly held, wholly-owned subsidiary Pelangio Ahafo (G) Limited ("Pelangio Ghana"), owns a 100% interest in the Dormaa Project. The Dormaa Project was originally acquired based on primary regional stream sediment data. Subsequently, Pelangio completed stream sediment surveys into the secondary and tertiary drainages, followed by soil sampling on an 800 meter by 100 meter (800m x 100m) grid and assayed using the Bulk Leach Extractable Gold (BLEG) method. Follow up closer-spaced soil surveys of 400m x 50m and 100m x 25m spacing were completed on the northern portion of the Dormaa Project, covering some 33% and 7% respectively (by area), of the property area. These soil surveys identified 13 significant gold-in-soil anomalies (95th percentile gold contours, 70 parts per billion ("ppb") threshold), which range in size from 300m x 50m to 1200m x 100m. In the southern 60% of the property, 800m x 100m soil sampling revealed eight significant anomalies (95th percentile gold contours, greater than 70 ppb gold), which range in size from 800m x 100m up to 4000m x 500m. Three of these anomalies, including the largest, are contourable at the 98th percentile, at approximately 175 ppb. A 20 km2 follow-up geochemical program of 200m x 50m soil sampling is recommended as a follow-up for this area. The soil sampling program was carried out between 2011 and 2013 under the supervision of Warren Bates, P.Geo. Assaying was carried out by Chemex Labs Inc. at their Kumasi, Ghana location. All certificates and results are available. 1 to 2 kilogram ("kg") samples were supplied, and in all cases the entire sample was subjected to the leaching process. Internal blanks and sample duplicates were included in the sample stream. Standards were not included in the sample stream because of the difficulty of obtaining such a large (1 to 2 kg) reliable standard at the time. Newly released satellite imagery indicates that substantial, unregulated artisanal and mechanized alluvial operations surrounding the property were carried out during 2014-2015. These alluvial operations appear to be sourced by large gold-in-soil anomalies on the Dormaa Project. Based on a preliminary work plan approved by the parties for the first year following the Effective Date, expenditures of approximately $300,000 are planned to be made for expanded gold-in-soil geochemical surveys, prospecting, and approximately 3,000 metres of reverse circulation and air core or rotary air blast drilling, to be completed by Pelangio Ghana at the Dormaa Project. Some of the key terms of the Option Agreement are summarized below: In accordance with the terms of the agreements, the two option agreements between Pelangio and Minatura Alluvials Co. LLC ("Minatura") have terminated. Mr. Warren Bates, P.Geo., (APGO #0211) is a qualified person as defined by NI 43-101 and has reviewed and approved the technical contents of this press release. Pelangio successfully acquires and explores camp-sized land packages in world-class gold belts, while using innovative corporate restructuring to maximize shareholder value. The Company primarily operates in Ghana, West Africa, an English-speaking, common law jurisdiction that is consistently ranked amongst the most favourable mining jurisdictions in Africa. The Company is exploring three 100%-owned camp-sized properties: the 100 km2 Manfo Property, the site of seven recent near-surface gold discoveries, the 264 km2 Obuasi Property, located 4 km on strike and adjacent to AngloGold Ashanti's prolific, high-grade Obuasi Mine, which has produced over 30 million ounces of gold since 1897, and the early-stage 159 km2 Akroma Property, which includes the Dormaa and Wamfie concessions. In addition, the Company has several gold exploration projects in Ontario, Canada. These include the legacy properties known as the Birch Lake Property, the Poirier Gold Property and the Lorna Lake Property. For additional information, please visit our website at www.pelangio.com, follow us on Twitter @PelangioEx. Certain statements herein may contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Forward-looking statements or information appear in a number of places and can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate" or "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements and information include statements regarding the Option Agreement, Roscan's ability to exercise the option pursuant to the Option Agreement, Roscan and the Company's exploration plans for the Dormaa Project, and the termination of the option agreements between Pelangio and Minatura. With respect to forward-looking statements and information contained herein, we have made numerous assumptions, including assumptions about the state of the equity markets. Such forward-looking statements and information are subject to risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or information. Such risks include, but are not limited to: Roscan's inability to obtain financing to exercise the option, changes in equity markets, share price volatility, volatility of global and local economic climate, gold price volatility, political developments in Ghana, increases in costs, exchange rate fluctuations, speculative nature of gold exploration and other risks involved in the gold exploration industry. See the Company's annual and quarterly financial statements and management's discussion and analysis for additional information on risks and uncertainties relating to the forward-looking statement and information. There can be no assurance that a forward-looking statement or information referenced herein will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Also, many of the factors are beyond the control of the Company. Accordingly, readers should not place undue reliance on forward-looking statements or information. We undertake no obligation to reissue or update any forward-looking statements or information except as required by law. All forward-looking statements and information herein are qualified by this cautionary statement. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
News Article | November 11, 2016
VANCOUVER, BC--(Marketwired - November 11, 2016) - Luna Gold Corp. (TSX: LGC) ("Luna Gold" or "the Company") has released results for its third quarter ended September 30, 2016, and provided an update on the Company's activities at its 100%-owned Aurizona Gold Mine ("Aurizona") in Brazil. All amounts are in United States dollars except per share and per ounce amounts, and where otherwise noted. "Luna Gold has made great progress over the last few months," said Christian Milau, Chief Executive Officer of Luna Gold. "With the updated mine plan and pre-feasibility study complete, we have been actively marketing the company in both North America and Europe to ensure the market is fully informed of the positive steps forward at Luna Gold and our plans for the Aurizona project. We have also taken the first steps to prepare for construction financing, with the ten to one share consolidation and filing of a base shelf prospectus. "We are focused on advancing the feasibility study to achieve our target of pouring gold in late 2018. Concurrently, we have commenced exploration with the objective of extending the Aurizona mine life and demonstrating the true potential of what we consider to be a very exciting exploration opportunity. We look forward to reporting progress to shareholders over the coming months as our exploration program unfolds." On September 12, 2016, the Company released the results of a National Instrument 43-101 ("NI 43-101") compliant pre-feasibility study (the "Pre-feasibility Study") for the Aurizona Project. The Pre-feasibility Study is based on a new mine plan and mineral reserve estimate and outlines the design of an open-pit gold mine producing an average of 150,000 ounces of gold per year for the first five years, with an initial 6.5-year mine life. Using a base case gold price of $1,250 per ounce, the project demonstrates strong financial returns with an after-tax internal rate of return ("IRR") of 34% ($1,350 per ounce: 41%) and a net present value ("NPV") using a 5% discount rate of $201 million ($1,350 per ounce: $256 million), which does not include conversion of ounces beyond proven and probable or new discoveries. Initial capital costs are estimated at $146 million, including a new mining fleet, due to the Company's ability to leverage significant existing infrastructure, with life-of-mine sustaining capital estimated at $47 million. All-in sustaining costs are estimated at $708 per ounce of gold produced. The Company expects to finalize a feasibility study for the project around the end of Q1 2017 followed by an 18-month construction period, with the objective of restarting operations in late 2018. During Q3 2016, the Company raised $10.3 million through the exercise of warrants and completion of a private placement financing. Class A Warrants and Class B Warrants were exercised into 1,200,000 common shares and 5,000,000 common shares respectively, for total proceeds of $4.9 million, resulting in the issuance of 6.2 million common shares of the Company. The Company also completed a private placement of 3,500,000 units at C$2.00 per unit for gross proceeds of $5.4 million. Each unit consisted of one common share and 10 common share purchase warrants, entitling the holder to purchase one common share of the Company at a price of C$2.50 until August 29, 2021. The new management team participated in the private placement, purchasing 1,150,000 of the units. On October 31, 2016, the Company's shareholders approved a ten for one consolidation of the Company's common shares. As a result of the Consolidation, the Company's share capital currently consists of 39,037,429 common shares, 1,694,300 options with an average exercise price of C$2.94 and expiry dates ranging from December 2016 to December 2020, warrants exercisable into 26,270,000 common shares at an average exercise price of C$1.11 expiring on June 30, 2020, and warrants exercisable into 3,500,000 common shares at an exercise price of C$2.50 expiring on August 29, 2021, for a total of 70,501,729 common shares outstanding on a fully-diluted basis. On November 3, 2016, the Company filed a preliminary short form base shelf prospectus with the securities commissions or similar regulatory authorities in each of the provinces of Canada, except Quebec. The base shelf prospectus will allow the Company to offer up to $200,000,000 (or the equivalent thereof in Canadian dollars) of common shares, debt securities, subscription receipts, units, warrants and share purchase contracts from time to time over the 25-month period after Canadian securities regulatory authorities have issued a receipt for the final short form base shelf prospectus. Additional information regarding the Company's financial results is available in the unaudited condensed consolidated interim financial statements and Management's Discussion and Analysis, which are available for download on the Company's website at www.lunagold.com and on SEDAR at www.sedar.com. Luna Gold is engaged in the exploration and development of its wholly-owned, past-producing Aurizona Gold Mine located in Maranhão state in northeastern Brazil. A pre-feasibility study for the Aurizona Project was completed in September 2016. The Company expects to finalize a feasibility study for the project around the end of Q1 2017 followed by an 18-month construction period, with the objective of restarting operations in late 2018. While the Company is focused on restarting operations at the Aurizona Mine, Luna Gold's large 241,400 hectare land package provides significant exploration upside potential. The brownfields exploration potential at Aurizona includes more than 10 drill-ready near-mine targets that the Company plans to prioritize with the intention of extending the mine life. In addition, surface mapping and sampling and limited drilling has identified more than 50 kilometres of cumulative strike of structures with anomalous to high-grade soil and rock geochemistry, which provide exploration opportunities longer term. To expedite exploration on the Company's 191,400 hectares of greenfields exploration licenses, in May 2016 Luna Gold entered into a joint venture agreement ("JV Agreement") with AngloGold Ashanti Holdings plc ("AngloGold"). As part of its minimum $2.0 million commitment in year one, AngloGold commenced exploration in August 2016 and is planning extensive airborne surveys over the entire land package, including Luna Gold's brownfields properties and the Aurizona Mine, which when combined with surface geochemistry will define targets for an extensive drilling program in the JV greenfields. The airborne survey data will be shared with Luna Gold and will help to focus the Company's exploration program. As per the JV Agreement, AngloGold can earn a 70% interest in the greenfields properties by spending $14.0 million on exploration expenditures over four years. Should AngloGold earn and decide to sell its interest in the joint venture, Luna Gold can purchase AngloGold's interest in any NI 43-101 compliant resources for $10.00 per ounce. On behalf of the Company "Christian Milau" Christian Milau, Chief Executive Officer and Director Luna Gold is engaged in the exploration and development of its past producing Aurizona Gold Mine in Brazil, which was placed on care and maintenance in 2015. A pre-feasibility study for the project completed in September 2016 outlined the design of an open-pit mine producing on average 150,000 ounces of gold annually for the first five years (see the "Pre-feasibility Study on Aurizona Mine Project, Maranhão, Brazil, NI 43-101 Technical Report" completed by Lycopodium Minerals Canada Ltd.). A feasibility study for the Aurizona project is underway, with the objective of pouring gold at the Aurizona Gold Mine in late 2018. Further information is available at www.lunagold.com or by email at firstname.lastname@example.org. This document contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively "forward-looking statements"). The use of the word "will", "targeted", "objective", "expects", "potential", "intends", "intention", "plan", "planning" and similar expressions are intended to identify forward-looking statements. Although Luna Gold believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since Luna Gold can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including assumptions made with regard to approval of the Company's base shelf prospectus, the anticipated results of the feasibility study for the Aurizona Project, Luna Gold's ability to raise the capital required to finance construction of the Aurizona Gold Mine, Luna Gold's ability to restart production of the Aurizona Gold Mine, the timing of the anticipated restart of production, and Luna Gold's ability to achieve the gold production rates outlined in the pre-feasibility study. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligations to publicly update and/or revise any of the included forward-looking statements, whether as a result of additional information, future events and/or otherwise, except as may be required by applicable securities laws.
News Article | February 15, 2017
DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Mining in West Africa 2016" report to their offering. The Mining Sector in West Africa: This report focuses on the mining sector in West Africa where an extensive established mining industry already exists. The region supplied 10% of the world's manganese ore, 9% of its gold, 8% of its bauxite and 7% of its uranium during 2014, with the majority of the minerals being exported for further processing. As West Africa hosts significant volumes of unexploited mineral resources including iron ore, gold and uranium, the region is viewed as an area filled with mining potential. A large number of companies are involved in the region's mining sector, including major companies like Rio Tinto, Glencore, United Company (UC) Rusal, Newmont Mining, AngloGold Ashanti, Vale and ArcelorMittal. Key Issues: In the light of forecasts by the International Monetary Fund (IMF) of overall growth of more than 5% per annum in West Africa over the next three years, investments into the sector have been made. However, doing business can be difficult; infrastructure is poor with the huge infrastructure deficit being described as a potential bottleneck for mining development, electricity supply is unreliable and inconsistent, and there are social, political and security risks. Report Coverage: Mining in West Africa describes recent events in the regional mining sector, generic and country-specific regulations and the impact of the reduction in commodity prices. Investments into the mining sector and other corporate actions are listed, and factors influencing the success of the industry are discussed. The report profiles 55 mining companies including ERAMET, through its subsidiary Comilog, which is the second-largest producer of high-grade manganese ore in the world, and Areva which produced 1,988t of uranium in Niger. Also profiled are Ghanaian miner, Abosso Goldfields Ltd and Bellzone Mining Plc, which mines iron ore in Guinea where it is currently involved in exploration for copper, nickel, cobalt, manganese, chrome and platinum. For more information about this report visit http://www.researchandmarkets.com/research/24kmt2/mining_in_west
News Article | November 2, 2016
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S. NV Gold Corporation (TSX VENTURE:NVX) (the "Company") announced today a non-brokered private placement of units of the Company for gross proceeds of a maximum of CDN$2,100,000 and a minimum of CDN$1,200,000 (the "Placement"). The Placement is an offering of up to 7,000,000 units (the "Units") at CDN$0.30 per Unit. Each Unit consists of one Share and one-half of one Warrant exercisable at CDN$0.60 per share for two years from issue of the Units. The expiry date of each whole Warrant is subject to acceleration such that, should the volume weighted average price of the common shares of the Company exceed CDN$1.00 for ten consecutive trading days, the Company may notify the holder in writing that the Warrants will expire 20 trading days from receipt of such notice unless exercised by the holder before such date. Closing of the Placement is conditional on a minimum of CDN$1,200,000 being raised in the offering and acceptance of the TSX Venture Exchange. The proceeds of the Placement will be used by the Company for review of the AngloGold Ashanti database covering Nevada that it recently acquired, for new property acquisition, for exploration of properties and for general working capital. The Company has agreed to pay an advisory services fee in respect of a portion of the Placement. John Watson, CEO of the Company has confirmed he will subscribe to the Placement for up to CDN$90,000 in Units. NV Gold is a junior exploration company based in Vancouver, British Columbia that is focused on delivering value through mineral discoveries utilizing the prospector generator model. Leveraging its highly experienced in-house technical knowledge, NV Gold's geological team intends to use the Database, which contains a vast treasury of field knowledge spanning decades of research and exploration, combined with its 12 gold projects in Nevada, to uncover opportunities for lease or joint venture. NV Gold plans to aggressively acquire additional land positions for the growth of its business. On behalf of the Board of Directors, For further information, visit the Company's website at www.nvgoldcorp.com. Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the proposed raising of up to CDN$2,100,000 and the proposed uses of such funds, the potential to uncover opportunities for lease or joint venture and other future plans and objectives of the Company, including exploration plans, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include regulatory issues, market prices, availability of capital and financing, general economic, market or business conditions, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
News Article | November 2, 2016
NEW YORK, November 2, 2016 /PRNewswire/ -- Stock-Callers.com is currently reviewing the performances of the following Gold equities: B2Gold Corp. (NYSE MKT: BTG), New Gold Inc. (NYSE MKT: NGD), Harmony Gold Mining Co. Ltd (NYSE: HMY), and AngloGold Ashanti Ltd (NYSE: AU). On Tuesday,...
News Article | March 4, 2016
Former goldmine workers have won a $32 million settlement from South African mining giants Anglo American and AngloGold Ashanti over respiratory diseases contracted underground, lawyers said Friday.
News Article | November 7, 2016
Sydney Australia, Nov. 07, 2016 (GLOBE NEWSWIRE) -- Heron Resources Limited (TSX: HER; ASX: HRR) ("Heron" or the "Company") is pleased to advise that its gold-nickel spin-off, Ardea Resources Limited (Ardea) has appointed a well credentialed independent Board to oversee its imminent listing on ASX and on-going operations. The Board combines a focussed blend of exploration, development and corporate expertise well suited to Ardea’s strategic plan. Katina Law has over 25 years’ experience in the mining industry covering corporate and site based roles across several continents. Over the past ten years she has worked with a number of ASX listed resources companies in strategic financial advisory and general management roles. She has worked on a number of development and evaluation projects which were later subject to corporate transactions including the Deflector gold and copper project and the King Vol polymetallic zinc project. Ms Law was Executive Director and CEO of East Africa Resources Limited from 2012 to 2015. Ms Law has also held senior positions at Newmont Mining Corporation’s head office in Denver, USA producing the company’s financial plans and providing financial information and analysis to the Board of Directors and the Executive Committee. She held the position of New Business Development Executive at LionOre International based in Perth where she was responsible for the financial assessment of development projects. Ms Law has a Bachelor of Commerce degree from UWA, is a Certified Practising Accountant and has an MBA from London Business School. She is a currently a non-executive Director of headspace and Gumala Enterprises Pty Ltd. Ms Law has no other public company directorships. Matthew Painter is a geologist with over 20 years’ professional experience including SRK Consulting, Sabre Resources, AngloGold Ashanti, Geological Survey of WA and MIM Exploration. His expertise is in ore deposit geology and structural geology, and his work has been instrumental in the successful discovery, exploration, and development of greenfields and brownfields deposits globally. Dr Painter has extensive on-ground experience throughout Australia and overseas including east, west, and southern Africa, central and south-eastern Asia, and South America, across a broad range of commodities including gold, copper, zinc-lead-silver, uranium, tin and manganese. Dr Painter has extensive managerial and ASX-listed company corporate experience. He has a Bachelor of Science with Honours degree from the University of Melbourne and has a Doctor of Philosophy (PhD) in Economic Geology from the University of Queensland. Dr Painter has no other public company directorships. Ian Buchhorn is a mineral economist and geologist with over 35 years’ experience. Prior to listing Heron in 1996 as founding Managing Director, Mr Buchhorn worked with Anglo American Corporation in southern Africa, and Comalco, Shell/Billiton and Elders Resources in Australia variously as a corporate and research geologist, as well as setting up and managing Australia’s first specialist mining grade control consultancy. For the last 25 years Mr Buchhorn has developed mining projects throughout the Eastern Goldfields of Western Australia and operated as a Registered Mine Manager. Mr Buchhorn is an executive director of Heron Resources Limited and non-executive director of RBR Group Limited. Mr Buchhorn’s role is to provide continuity from Heron’s stewardship of the assets to Ardea’s. Sam Middlemas is a chartered accountant with more than 20 years’ experience in various financial and company secretarial roles with a number of listed public companies operating in the resources sector. He is the principal of a corporate advisory company which provides financial and secretarial services specializing in capital raisings and initial public offerings. Previously Mr Middlemas worked for an international accountancy firm. His fields of expertise include corporate secretarial practice, financial and management reporting in the mining industry, treasury and cash flow management and corporate governance. Mr Middlemas is currently CEO and Company Secretary of Bauxite Resources Limited, and CFO/Company Secretary of RBR Group Limited, Alto Metals Limited and Enterprise Metals Limited. Due to the December Closing Date, the current indicative timetable is deliberately conservative, to accommodate the holiday season. The Ardea Board will endeavour to close the offer earlier. This news release contains forward-looking statements and forward-looking information within the meaning of applicable Australian and Canadian securities laws, which are based on expectations, estimates and projections as of the date of this news release. This forward-looking information includes, or may be based upon, without limitation, estimates, forecasts and statements as to management’s expectations with respect to, among other things, the timing and ability to complete the Ardea spin-off, the timing and amount of funding required to execute the Company’s exploration, development and business plans, capital and exploration expenditures, the effect on the Company of any changes to existing legislation or policy, government regulation of mining operations, the length of time required to obtain permits, certifications and approvals, the success of exploration, development and mining activities, the geology of the Company’s properties, environmental risks, the availability of labour, the focus of the Company in the future, demand and market outlook for precious metals and the prices thereof, progress in development of mineral properties, the Company’s ability to raise funding privately or on a public market in the future, the Company’s future growth, results of operations, performance, and business prospects and opportunities. Wherever possible, words such as “anticipate”, “believe”, “expect”, “intend”, “may” and similar expressions have been used to identify such forward-looking information. Forward-looking information is based on the opinions and estimates of management at the date the information is given, and on information available to management at such time. Forward-looking information involves significant risks, uncertainties, assumptions and other factors that could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking information. These factors, including, but not limited to, the ability to complete the Ardea spin-off on the basis of the proposed terms and timing or at all, the ability to complete the Woodlawn Zinc-Copper Project Feasibility Study on time or at all, and whether the feasibility study is positive and otherwise consistent with the business plans of the Company, fluctuations in currency markets, fluctuations in commodity prices, the ability of the Company to access sufficient capital on favourable terms or at all, changes in national and local government legislation, taxation, controls, regulations, political or economic developments in Canada, Australia or other countries in which the Company does business or may carry on business in the future, operational or technical difficulties in connection with exploration or development activities, employee relations, the speculative nature of mineral exploration and development, obtaining necessary licenses and permits, diminishing quantities and grades of mineral reserves, contests over title to properties, especially title to undeveloped properties, the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drill results and other geological data, environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins and flooding, limitations of insurance coverage and the possibility of project cost overruns or unanticipated costs and expenses, and should be considered carefully. Many of these uncertainties and contingencies can affect the Company’s actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, the Company. Prospective investors should not place undue reliance on any forward-looking information. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, the Company cannot assure prospective purchasers that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Company nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. The Company does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law. No stock exchange, regulation services provider, securities commission or other regulatory authority has approved or disapproved the information contained in this news release.
News Article | November 28, 2016
MarketStudyReport.com adds “Global Gold Mining Sales Market Report 2016” new report to its research database. The report spread across 107 pages with table and figures in it. This report studies sales (consumption) of Gold Mining in Global market, especially in United States, China, Europe, Japan, focuses on top players in these regions/countries, with sales, price, revenue and market share for each player in these regions, covering Browse full table of contents and data tables at https://www.marketstudyreport.com/reports/global-gold-mining-sales-market-report-2016/ Market Segment by Regions, this report splits Global into several key Regions, with sales (consumption), revenue, market share and growth rate of Gold Mining in these regions, from 2011 to 2021 (forecast), like Split by product Types, with sales, revenue, price and gross margin, market share and growth rate of each type, can be divided into Split by applications, this report focuses on sales, market share and growth rate of Gold Mining in each application, can be divided into 7 Global Gold Mining Manufacturers Analysis 7.1 Watshagold.net 7.1.1 Company Basic Information, Manufacturing Base and Competitors 7.1.2 Gold Mining Product Type, Application and Specification 18.104.22.168 Type I 22.214.171.124 Type II 7.1.3 Watshagold.net Gold Mining Sales, Revenue, Price and Gross Margin (2011-2016) 7.1.4 Main Business/Business Overview 7.2 AngloGold Ashanti 7.2.1 Company Basic Information, Manufacturing Base and Competitors 7.2.2 107 Product Type, Application and Specification 126.96.36.199 Type I 188.8.131.52 Type II 7.2.3 AngloGold Ashanti Gold Mining Sales, Revenue, Price and Gross Margin (2011-2016) 7.2.4 Main Business/Business Overview 7.3 SOKIMO 7.3.1 Company Basic Information, Manufacturing Base and Competitors 7.3.2 124 Product Type, Application and Specification 184.108.40.206 Type I 220.127.116.11 Type II 7.3.3 SOKIMO Gold Mining Sales, Revenue, Price and Gross Margin (2011-2016) 7.3.4 Main Business/Business Overview 7.4 Casa Mining Ltd 7.4.1 Company Basic Information, Manufacturing Base and Competitors 7.4.2 Oct Product Type, Application and Specification 18.104.22.168 Type I 22.214.171.124 Type II 7.4.3 Casa Mining Ltd Gold Mining Sales, Revenue, Price and Gross Margin (2011-2016) 7.4.4 Main Business/Business Overview 7.5 Mongbwalu Gold Mining 7.5.1 Company Basic Information, Manufacturing Base and Competitors 7.5.2 Product Type, Application and Specification 126.96.36.199 Type I 188.8.131.52 Type II 7.5.3 Mongbwalu Gold Mining Gold Mining Sales, Revenue, Price and Gross Margin (2011-2016) 7.5.4 Main Business/Business Overview To receive personalized assistance write to us @ [email protected] with the report title in the subject line along with your questions or call us at +1 866-764-2150