Month: July 2011

Windstorm Announces VP Exploration

Windstorm Resources Inc. (TSX-V: WSR, FRA: 4WE, WKN: A1H700, “Windstorm” or the “Company”) is pleased to announce the appointment of Mr. Carl Verley, B.Sc., P.Geol. as its Vice President of Exploration.

Goldcorp Revenues Increase 62%

GOLDCORP INC. today reported operating cash flows before working capital changes1 of $717 million for the second quarter of 2011 based on gold production of 597,100 ounces at a total cash cost2 of $185 per ounce. Adjusted net earnings from continuing operations3 in the quarter increased to $420 million, or $0.52 per share, compared to $199 million, or $0.27 per share, in the second quarter of 2010. Reported net earnings from continuing operations were $489 million compared to $524 million in the second quarter of 2010.

Mexico’s Minera Frisco 2Q Net Loss MXN372 Million

MEXICO CITY -(Dow Jones)- Mexican mining company Minera Frisco SAB (MFRISCO.MX) on Wednesday posted a net loss in the second quarter as losses on metals futures pushed up financial costs, offsetting higher sales and operating profit.

Zaruma Resources Announces Completion of Financing

Zaruma Resources Inc.today announced that it has completed the previously announced US$25 million equity financing and US$30 million debt financing. Funds have been released from escrow, Mexican court approved agreements have ended the litigation with various creditors in Mexico, and the necessary filings were made in certain courts and registries in Mexico that will result in the removal of existing liens on the Company’s mining concessions. The Company has issued 488,649,998 common shares and 488,649,998 warrants permitting the holder to acquire the same number of common shares at a price of C$0.10 for a period of two years as part of the equity financing.

Oroco Resource Corp. Announces Closing of Private Placement

Oroco Resource Corp. is pleased to announce that it has closed a non-brokered private placement of 4,250,000 units at a price of $0.28 per unit to raise gross proceeds of $1,190,000. Each unit consists of one common share and one-half of one non-transferable common share purchase warrant. Each whole share purchase warrant is exercisable for a period of fifteen months into one additional common share at a price of $0.42 per share.

US Gold Appoints William Faust Chief Operating Officer

TORONTO, ONTARIO, Jul 27, 2011 (MARKETWIRE via COMTEX) — US GOLD CORPORATION is pleased to announce the appointment of William Faust as Chief Operating Officer, effective August 1, 2011. Mr. Faust will direct US Gold’s mining operations in Mexico and Nevada, including the development, construction and operation of the El Gallo and Gold Bar projects. Mr. Faust has over 30 years of engineering and management experience, particularly in open pit mining in Mexico and the Western United States.

Cerro Resources NL Reports Quarterly Activities and Files Financial Statements for the Period Ending June 30, 2011

LONGUEUIL, QUEBEC–(Marketwire – July 26, 2011) – Cerro Resources NL (ASX:CJO)(TSX VENTURE:CJO) (“Cerro” or “the Company”) is pleased to release a summary of the Company’s quarterly activities. Financial statements and MD&A, for the period ending June 30, 2011, have been filed on www.sedar.com and can be viewed on the Company’s website, www.cerroresources.com.

Oro President Darren Bahrey on Mexico gold assays of 4.07 g/t over 32m

Oro Mining Ltd TSXV:OGR announced results from the Taunus Gold Deposit of its Trinidad Property in Mexico. Highlights include 4.07 g/t gold over 32 metres, 8.07 g/t over 12.7 metres, 3.37 g/t over 25.6 metres, 0.83 g/t over 72.4 metres (including 1.03 g/t over 30.9 metres) and 1.91 g/t over 22.8 metres (including 3.45 g/t over 9.7 metres).

Tara Minerals: Nearly Worthless Stock Being Promoted

Tara Minerals (TARM.OB) is a company worth at most $20M (likely much less), but boasts a market capitalization higher than $100M. How did a company that has only raised $6.7M from the sale of common stock since its inception (see the first line under cash flows from financing activities in the most recent 10-Q) turn that into more than $100M in market capitalization? The company has paid millions of dollars in stock for expenses, most notably “IR services,” in an effort to artificially bolster the stock price.

Aurcana Reports Record 2nd Quarter Silver Production

VANCOUVER, BRITISH COLUMBIA–(Marketwire – July 21, 2011) – Aurcana Corporation (TSX VENTURE:AUN)(OTCQX:AUNFF) (“Aurcana” or the “Company”) is pleased to report record silver production for Q2 of 2011 of 257,508 contained silver ounces. This is a 7% increase over the 240,275 silver ounces produced in Q1 of 2011, and a 41% increase over Q2 of 2010.

Total mill feed of 133,700 tonnes increased 31% compared to 94,201 tonnes for Q2 of 2010. Daily throughput averaged 1,504 tonnes per day for 89 mill days, an increase of 7 operating days over Q2 of 2010.

This is the third consecutive quarter that the mill average daily throughput has exceeded the 1,500 tonnes per day design capacity of the plant, confirming the success of the 2010 expansion.

Of 133,700 mill feed tonnes, 14% (19,196 tonnes) were from NI 43-101 Measured and Indicated Resources and 86% (115,504 tonnes) were from new discoveries or non-compliant resources. La Negra is now applying 43-101 standards in developing new mineralized zones to make more resources compliant. New ore zone development is initially focusing on the Northwest Trend.

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