Month: October 2012

$1,000,000 Private Placement with Capstone Mining Corp Closes

Westminster Resources Ltd. wishes to announce that it has closed the non-brokered private placement of 10,000,000 shares for net proceeds of $1,000,000 announced in its press release dated October 26, 2012. With the closing of this placement Capstone Mining Corp. now owns 17.27% of the Company’s issued and outstanding shares.

Bandas narcos controlan minas de carbón en México

La denuncia repercute en México a través del diario Reforma: grupos de narcotraficantes gestionan la explotación de minas de carbón en e l estado de Coahuila con el apoyo de tres empresas que los ayudan a lavar dinero. Casualmente en estos días las tres empresas mineras más grandes de México (una de ellas propiedad de Carlos Slim) anunciaron inversiones multimillonarias en el sector.

Gold Resource Corporation Declares October Monthly Dividend

Gold Resource Corporation declares its instituted monthly dividend of $0.06 per common share for October 2012 payable on November 23, 2012 to shareholders of record as of November 12, 2012. Gold Resource Corporation is a low-cost gold producer with operations in southern Mexico.

First Point Minerals Lists on TSX Senior Board

First Point Minerals Corp. is pleased to announce that the Company’s common shares will be listed and posted for trading on the Toronto Stock Exchange (“TSX”) senior board at the opening of trading on Thursday November 1st, 2012 under the current symbol “FPX”. The Company’s shares will be delisted from the TSX Venture Exchange upon commencement of trading on the TSX.

Mineras anuncian nuevas inversiones

Las tres mayores empresas mineras con capital mexicano, Grupo México, Industrias Peñoles y Frisco, anunciaron que invertirán 6,715 millones de dólares en el 2012 y el 2013, manteniéndose en sus máximos niveles históricos en ese rubro.

Cangold Discovers Four New Gold Zones At Plomo

Cangold Limited provides an update from the recent field work program on the Plomo gold project in northern Sonora, Mexico. Further geological mapping and detailed surface rock sampling was completed to locate and delineate complex structural zones and associated low grade bulk tonnage gold mineralization for follow-up drill testing. Several new areas of gold mineralization were discovered such that the Plomo project now has nine gold zones associated with low angle faulting within a one and a half by five kilometre area.

Yale Uncovers 25 Metres Averaging 0.67 g/t Gold at Orofino

Yale Resources Ltd. is pleased to report that a phase one work program performed on behalf of the optionee Overlord Capital Corp. has successfully confirmed multiple gold-silver soil anomalies as well as a trench over 25 metres averaging 0.67 g/t gold within the Orofino Project, located in Sonora State, Mexico.

Focus Makes New Discovery at Reventon: 98 g/t Ag over 24m in Trench

Focus Ventures Ltd. is pleased to announce assays from initial channel sampling at its Reventon property within the Santa Cruz project. Prospecting and sampling has confirmed high-grade silver mineralization associated with multiple zones of hydrothermal breccias in areas of strongly anomalous silver-in-soil geochemistry.

Oremex Gold Announces Private Placement

Oremex Gold Inc. today announced that it intends to complete a non-brokered private placement of up to 15,000,000 units of the Company, each Unit consisting of one common share and one common share purchase warrant of the Company, at a purchase price of $0.05 per Unit for aggregate gross proceeds of up to $750,000. All Warrants will be exercisable into Shares at a price of $0.10 per Share, expiring in five (5) years from the date of issue.

NWM Closes Extension of Debt Facility to June 2013

NWM Mining Corporation is pleased to announce that the current US$18,000,000 debt facility, which includes a US$2,000,000 convertible debenture, has been extended to June 14, 2013 has now been closed. The US$2,000,000 debentures conversion right has also been extended from September 24, 2012 to June 14, 2013. The Company may repay this debenture at any time prior to maturity at 110% of the principal amount with 10% payable in common shares at not less than $0.06 per share. The remaining US$16,000,000 is repayable on or before the maturity date at the principal amount. Additionally US$500,000 of interest payable in September and October 2012 will be capitalized in the form of a convertible debenture with a strike price of $0.06 due October 26, 2013. This convertible debenture also bears interest at a rate of 15% and is repayable on the maturity date at the principal amount. The Company may repay this debenture at any time prior to maturity at 125% of the principal amount payable in cash. The convertible debenture has been approved by the Company’s board of directors. None of the directors have a direct interest in the convertible debenture. A cash payment of $150,000 is payable and 10,500,000 common shares of NWM were issued on closing. The 10,500,000 common shares issued are subject to a hold period of four months and one day from closing ending on February 27, 2013.

MAG Silver Confirms Start of Phase 2 Drill Program on Canasil’s La Esperanza Project in Durango and Zacatecas States, Mexico

Canasil Resources Inc. announces that MAG Silver Corp. has confirmed that the Phase 2 drill program has started and is currently in progress at Canasil’s La Esperanza silver-lead-zinc project in Durango and Zacatecas States, Mexico. The planned program includes up to 3,500 metres of diamond drilling to test silver-lead-zinc veins in the northwest of the project area. This drill program will be part of the CAD 1,500,000 exploration expenditures required between September 2012 and September 2013 under the option agreement for MAG to earn a 60% interest in the La Esperanza project.

Orex Ends Investor Relations Agreement

Orex Minerals Inc. reports that its investor relations agreement with Jada Jennings, Senior Communications & Investor Relations Consultant, dated May 1, 2012 has been cancelled today, pursuant to the terms of the agreement.

Geologist Merrill McHenry Keeps His Eye on the Guerrero Gold Belt

Millions of years ago, tectonic events created significant gold and silver mineralization in the Guerrero Gold Belt in Mexico. Today, two gold companies have reported 16 Moz of gold there, and other discoveries are sure to follow. In this exclusive Gold Report interview, Merrill McHenry, an independent analyst and geologist, explains the region’s geology and its hot prospects

Mexican miner Penoles posts steep drop in Q3 profit

Mexican mining company Industrias Penoles on Friday reported a 58.4 percent drop in third-quarter profit due to a fall in metal prices and a rise in costs for investment in expansion and exploration.

Slim’s Frisco loses its midas touch

Carlos Slim has often been described as having a Midas touch but his very own gold mining company, Minera Frisco, didn’t make much money in the third quarter from producing the yellow metal.

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