Month: July 2013

Mammoth Resources Corp.: BCSC Requests Clarification on Prior Company Disclosure

Mammoth Resources Corp. has been asked to clarify certain disclosure in its corporate presentation dated June 2013 and posted on the company web site as a result of a review by the British Colombia Securities Commission. The corporate presentation has since been removed and an edited version of the presentation re-posted. Specifically, the BCSC has requested that wherein the company made reference on a slide in the presentation to the potential valuation increase that could arise in the company’s share price, relative to the valuation of two TSX listed companies with projects in Mexico with NI 43-101 resources, if the company’s Tenoriba project were to host a quantity of mineral resources. The BCSC advised the company that NI 43-101 restricts disclosure of quantities and grades of a deposit that is not a mineral resource or reserve, and only allows disclosure of ranges of quantity and grade for a potential exploration target if there is a valid basis and if the disclosure includes prominent mandatory cautionary language. The company’s disclosure in its June 2013 Corporate Presentation did not comply with these requirements and the company retracts all prior disclosure of hypothetical quantities and gold grades and would like to confirm that the company has no current or historical resource estimates of the size and grade ranges at Tenoriba. In the event that the company receives an initial material mineral resource estimate, it will promptly disclose such results and file supporting technical report.

Forbes – Goldcorp And Why Gold Miners Are Getting Crushed: Massive Cost Inflation, Dropping Prices

It hasn’t been a hospitable environment for gold miners, the embattled sector which has had to suffer both falling commodity prices and rising costs. Reporting second quarter earnings before the bell on Thursday, Goldcorp GG -0.28% proved to be the latest victim of the new paradigm in the gold miners’ world, being forced to take a $1.93 billion write-down on the declining value of its assets, as management reacted to its market capitalization falling below the company’s net asset value. Despite a recent rally in the sector, and in the yellow metal, it’ll take dramatically higher prices to push Goldcorp, and the broader sector, into true rally mode.

Almaden Hits 21.50 Meters of 2.2 g/t AuEq at Ixtaca, Mexico

Almaden Minerals Ltd. is pleased to announce the results from Almaden’s ongoing 2013 Ixtaca Zone drill program at the Company’s 100% owned Tuligtic project, Mexico. The 2013 drill program is focussed on expanding the known resource immediately along strike to known mineralisation, adjacent to the current resource shell and within what is considered a potential pit shell. Highlights from the holes released today include the following intercepts.

Major Drilling Group International Inc. is one of the world’s largest drilling services companies primarily serving the mining industry. Established in 1980, Major Drilling has over 1,000 years of combined experience and expertise within its management team alone.

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