Mining News

‘Staggering’ uncertainty driving gold – World Gold Council

With Britain voting to exit the European Union, the World Gold Council expects to see strong and sustained inflows into the gold market driven by the "staggering" level of protracted uncertainty that investors now face. The council said on Friday that gold’s surge to $1 313.85/oz was providing investors with a much-needed safe haven.
(Fri, 24 Jun 2016 15:58:00 +0200)

Brexit could push gold price as high as $1 400/oz in coming weeks

Gold and silver prices on Friday surged above their 2016 highs in the wake of the outcome of the British referendum to leave the European Union (EU) – the so-called Brexit. Fitch Group research firm BMI on Friday said it expected additional gains for these precious metals over the coming weeks.
(Fri, 24 Jun 2016 16:12:00 +0200)

Gold mining companies granted partial leave to appeal against certification judgment

The South Gauteng High Court on Friday granted gold mining companies leave to appeal against a finding amending the common law in respect of general damages claims regarding the class certification judgment handed down by the court in May. It, however, refused leave to appeal on the certification of silicosis and tuberculosis classes.   The companies were considering the judgment.   The Occupational Lung Disease Working Group, comprising gold miners African Rainbow Minerals, Anglo American South Africa, AngloGold Ashanti, Gold Fields, Harmony Gold and Sibanye Gold, on Thursday reiterated that achieving a mutually acceptable comprehensive settlement regarding the class certification judgment was preferable to protracted litigation.  
(Fri, 24 Jun 2016 11:56:00 +0200)

Keaton expects FY loss as a result of one-off costs

A R159.2-million impairment charge and a R61.5-million breach of contract charge will see Keaton Energy post a headline loss a share for continuing operations of between 16c and 17c for the year ended March 31, compared with headline earnings per share (HEPS) of 12.5c in the prior financial year. Keaton further expected to report a basic loss a share for continuing operations of between 61.7c and 62.7c, compared with basic earnings a share of 12.6c the year before.
(Fri, 24 Jun 2016 10:56:00 +0200)

Nordgold may look at Toronto listing instead of London on Brexit

Nordgold, the Russian miner controlled by billionaire Alexey Mordashov, may look to get a primary listing of its shares in Toronto instead of London after the UK voted to leave the European Union. "It’s a real shock and nobody yet understands what the final consequences will be," Chief Executive Officer Nikolai Zelenski said in a phone interview from London on Friday. "If London’s attractiveness will reduce, which is quite likely, we may look at other exchanges, like Toronto.”
(Fri, 24 Jun 2016 14:28:00 +0200)

Gem International sees big diamond potential at Angola flagship

Vancouver-based explorer Gem International Resource sees bonanza diamond potential at its flagship Dala project, in Angola, and is preparing plans for the immediate development of alluvial diamond deposits, followed with systematic exploration that would hopefully result in discovering diamondiferous kimberlites. “The Dala project offers excellent potential. Together with our partner in Angola GlobalGems, we plan to immediately initiate bulk sampling on the best alluvial targets with a view to generate cash flow within the first year of operations,” Gem International director and consultant Denis Hayes told Mining Weekly Online during a recent interview.
(Thu, 23 Jun 2016 22:03:00 +0200)

Giyani launches C$300 000 private placement

Oakville, Ontario-based Giyani Gold has launched a C$300 000 non-brokered private placement financing of up to three-million common shares at a price of C$0.10 apiece, for total gross proceeds of up to C$300 000, the company announced Friday. The TSX-V- and JSE-listed explorer advised that pending regulatory and exchange approvals, the placement was expected to close on July 15.
(Fri, 24 Jun 2016 15:52:00 +0200)

West Wits Mining finalises Sol Plaatjies extraction, rehabilitation project agreement

ASX-listed gold developer West Wits Mining has signed an agreement that will allow for the start of the Sol Plaatjies project within the Soweto Cluster prospecting right area, in Johannesburg, Gauteng. The objective of the Sol Plaatjies project, which was conceived and advanced in consultation with relevant stakeholders, including the land owner and the Department of Mineral Resources, was to remove and process a section of some 1 500 m of Kimberley Reef outcrop adjacent to the village of Sol Plaatjies on the northern fringe of Soweto.
(Fri, 24 Jun 2016 15:50:00 +0200)

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