South Africa power cuts hurt DRDGOLD Q3 output "South African gold producer DRDGOLD reported a 9 percent decline in third quarter output partly due to a power crisis in the country but profit rose on the back of a higher gold price." More | May 09
Cardero Initiates Pilot-Scale Metallurgical Assessment at Pampa de Pongo Iron Deposit, Peru "Cardero Resource Corp. ("Cardero" or the "Company") - (Toronto:CDU.TO - News)(AMEX:CDY - News)(Frankfurt:CR5.F - News) is pleased to announce that it has initiated an independent pilot-scale metallurgical assessment of the 953 Million tonne (Mt) Pampa de Pongo Iron deposit, in the Marcona district of southeast Peru. The objective is to independently confirm and further improve upon the positive results of the 1996 Met Chem Canada Inc. metallurgical study (see NR08-11)." More | May 09
Richmont Mines Reports 46% Increase in Revenue in the First Quarter of 2008 "Richmont Mines Inc. (Toronto:RIC.TO - News)(AMEX:RIC - News), a gold exploration, development and production company with operations in Canada, today announced financial and operational results for its first quarter ended March 31, 2008. Financial results are based on Canadian GAAP and dollars are reported in Canadian currency, unless otherwise noted." More | May 09
Gammon Gold announces further increases in April's consolidated production, a further 55% increase in Ocampo's production "Gammon Gold Inc. ("Gammon") (TSX:GAM and AMEX:GRS) is pleased to provide its unaudited monthly status update for April 2008. Since the launch of the turnaround strategy in December 2007, the Company has been reporting monthly updates on its key performance indicators covering a seven (7) month period that clearly demonstrate the continual improvements in key operational performance indicators, financial metrics, and internal management reporting controls that were encompassed in the Company's turnaround business plan." More | May 09
Paramount Gold and Silver Corp. Acquires Mining Concession Extending its San Miguel Vein in Mexico "Paramount Gold and Silver Corp. (AMEX:PZG - News)(Toronto:PZG-TO.TO - News) (Frankfurt:P6G.F - News)(WKN: A0HGKQ) recently acquired a new mining concession at its San Miguel project in Mexico. Elyca hosts the on-strike extension of its newly discovered 'Clavo 99'." More | May 09
Mine Tragedies Overshadow Group Results "Gold Fields Limited (NYSE & JSE: GFI) today announced headline earnings for the March 2008 quarter of R1,246 million, compared with headline earnings of R456 million and R228 million for the December 2007 and the March 2007 quarters respectively. In US dollar terms headline earnings for the March 2008 quarter were US$176 million, compared with earnings of US$67 million and US$32 million for the December 2007 and the March 2007 quarters respectively." More | May 09
Claude Resources Announces First Quarter Results "For the three months ended March 31, 2008, the Company recorded net earnings of $0.4 million, or $0.00 per share, after a $2.2 million non-cash recovery related to income tax benefits arising from the issue of flow-through shares. This compares to a net loss of $0.04 million, or $0.00 per share, after a $1.7 million non-cash recovery related to income tax benefits arising from the issuance of flow-through shares for the comparable period in 2007." More | May 08
Vista Gold Corp. Updates Status of Permit for Paredones Amarillos Project "Vista Gold Corp. ("Vista") (Amex: VGZ; TSX) announced that its advisors and counsel in Mexico have confirmed their view that the Change of Land Use Permit for the Paredones Amarillos Project remains valid. Vista is currently evaluating the options for validation of the permit, which include initiating legal or administrative action seeking the annulment of the opinion rendered by the La Paz office of the Mexican Environmental and Natural Resource Service (SEMARNAT) (referred to in Vista's press release dated April 30, 2008)." More | May 08
Seabridge Gold Files First Quarter Financial Statements and MD&A "Seabridge Gold Inc. (CDNX:SEA.V - News)(AMEX:SA - News) announced today that it has filed its First Quarter Financial Statements, and Management's Discussion and Analysis for the period ended March 31, 2008 on SEDAR. To review these documents, please see http://www.seabridgegold.net/2008-Q1.pdf." More | May 08
Brisas Project Update Regarding Construction Permit "Gold Reserve Inc. (TSX:GRZ - News) (AMEX:GRZ - News) announced that it has obtained from the Venezuelan Ministry of Environment (MinAmb) formal notification of the rescission of the March 2007 permit for the commencement of the construction phase of the Brisas Project (the “Authorization to Affect”)." More | May 08
Central Sun Announces Positive Orosi Mine Feasibility Study "Central Sun Mining Inc. (Toronto:CSM.TO - News)(Toronto:CSM-WT.TO - News)(AMEX:SMC - News)(the "Company") today reported results of a feasibility study on the Orosi Mine located in Nicaragua (the "Feasibility Study"), including economic forecasts and independently prepared Mineral Resource and Mineral Reserve estimates. The Company is currently converting the Orosi Mine from a heap leach operation to a conventional milling operation. The Feasibility Study was commissioned by Scott Wilson Roscoe Postle Associates Inc. and all figures are as at January 31, 2008; the date the models were run and calculated." More | May 08
US Gold Provides Mexico & Nevada Exploration Update "US GOLD CORPORATION (Toronto:UXG.TO - News)(AMEX:UXG - News)(Frankfurt:US8.F - News) is pleased to announce continuing exploration success from the Magistral Mine in Sinaloa State, Mexico. Drilling within the Magistral Mine intersected 0.439 opt (ounces per ton) gold over 40 feet (ft.) (15.03 gpt (grams per tonne) gold over 12.2 meters) within a longer intercept of 0.206 opt gold over 133 ft. (7.04 gpt gold over 40.5 meters). US Gold also wishes to announce that its updated resource estimate for the Tonkin Project in Nevada's Cortez Trend is nearing completion and is scheduled to be released by the end of May." More | May 08
Taseko Mines Limited: Electrical Transformer Failure at Gibraltar Mine "Taseko Mines Limited ("Taseko" or the "Company") (Toronto:TKO.TO - News)(AMEX:TGB - News) announces that an electrical transformer supplying power to the concentrator facility at its Gibraltar Mine has failed. The cause of the failure is being investigated." More | May 08
Agnico-Eagle reports strong first quarter 2008 results; Initial start-up at new Goldex mine "Agnico-Eagle Mines Limited ("Agnico-Eagle" or the "Company") today reported quarterly net income of $28.9 million, or $0.20 per share for the first quarter of 2008. This result includes a non-cash foreign currency translation gain of $8.9 million, or $0.06 per share. Additionally, the non-cash stock option expense totaled $12.8 million, or $0.09 per share in the first quarter. In the first quarter of 2007, the Company reported net income of $24.9 million, or $0.21 per share." More | May 08
IAMGOLD to Receive in Excess of $48 Million From Sale of La Arena "IAMGOLD Corporation ("IAMGOLD" or "the Company") (Toronto:IMG.TO - News)(NYSE:IAG - News)(BOTSWANA: IAMGOLD) announced today it has entered into an agreement for the sale of its Peruvian development copper / gold project, La Arena, to Rio Alto Mining Limited ("Rio Alto") for US$47.55 million in cash and a 5.5% interest in Rio Alto. This transaction is expected to close in the coming months." More | May 08
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Gold Company News
Saturday, March 25th: Bob Chapman, International Forecaster 