Galaxy Intends to Raise A$30 Million via Convertible Note Facility

Emerging lithium producer, Galaxy Resources Limited is pleased to announce that it has agreed in principle to issue A$30 million in how to identify precious metal orea convertible note to a strategic China based investor.

An indicative non-binding term sheet has been signed which is subject to final documentation, and the approval of Galaxy’s Board, senior lenders and other stakeholders. Galaxy Resources Managing Director, Iggy Tan said proceeds of the issue will be used for additional working capital and the ramp up of its Mt Cattlin and Jiangsu projects.

Further details of the final terms, including the details of the investor, will be provided once final and binding transaction documents have been executed.

Hong Kong Listing

The Company is aware of several media reports regarding the potential for Galaxy listing on the Stock Exchange of Hong Kong (the SEHK).

The Company confirms that it is evaluating the possibility of dual listing on the SEHK and, together with its advisors, is currently undertaking the preparatory work necessary to submit a listing application. Mr Tan said that a listing in Hong Kong could provide an outstanding platform for growth and position Galaxy as one of the largest lithium carbonate producers in the Asia Pacific region.

“A Hong Kong listing could represent the beginning of another exciting growth phase for the Company with potential to deliver value for existing and new Galaxy shareholders,” he said. “However, at this stage, no decision has been made by the Board to proceed with a listing in Hong Kong and thus to submit the listing application.”

“If submitted, Galaxy will inform the market at the appropriate time and the listing application will be subject to the approval of the SEHK”.

Baffinland Reaffirms its Recommendation That Shareholders Reject Offer

Baffinland Iron Mines Corporation announced today that it received notice by wamachinery for extracting gold from rocky of press release of an amended offer (the "Amended Nunavut Offer") being made to its shareholders by Nunavut Iron Ore Acquisition Inc. ("Nunavut"), a corporation wholly-owned by Iron Ore Holdings, LP, to acquire 49.7% of Baffinland's outstanding common shares (calculated on a fully-diluted basis) excluding the 10.3% of the common shares owned by Nunavut, at a price of $1.45 in cash per common share which can be taken up pursuant to the Amended Nunavut Offer.

The board of directors of Baffinland has reviewed the Amended Nunavut Offer with its financial and legal advisors and has determined that the offer by ArcelorMittal being made for 100% of Baffinland's Common Shares for $1.40 in cash per share and 100% of Baffinland's 2007 Warrants for $0.10 in cash per 2007 Warrant (the "ArcelorMittal Offer") remains in the best interests of Baffinland, its Shareholders and 2007 Warrantholders.

Accordingly, the Board of Directors reaffirms its recommendation that Baffinland's securityholders ACCEPT the ArcelorMittal Offer and TENDER their Common Shares and 2007 Warrants to the ArcelorMittal Offer and REJECT the Amended Nunavut Offer and NOT TENDER their Common Shares to the Amended Nunavut Offer.

Government Approval received for Toro’s Wiluna Uranium Project

gold claims for lease in alaskaThe Environmental Protection Authority of Western Australia (EPA) has approved the Environmental Scoping Document (ESD) for Toro Energy’s 100%-owned Wiluna Uranium Project.

The EPA’s approval of the ESD allows Toro to proceed with the preparation of an Environmental Review and Management Programme (ERMP) on which final Government decisions about the Project will be based. The ESD identifies the further environmental studies Toro will be required to undertake to complete its ERMP.

Toro is working to have the ERMP on public exhibition in the second quarter of 2011.

The public exhibition period will last 14 weeks during which individuals and organisations will be able to make submissions to Government on the Wiluna Uranium Project.

During the ERMP public exhibition period, Toro will hold public information days in Wiluna, Leonora, Menzies and Kalgoorlie. Subject to Government and Toro Board approvals, Toro is planning to have the Wiluna Project in production in 2013.

The Project is being assessed under a bilateral agreement between the Western Australian and Federal Governments.

As part of this process, a draft ESD was put on public exhibition in June and Toro responded to the EPA on submissions made by individuals, organisations and Government agencies prior to the EPA’s approval.

ABOT Mining Estimates Potential Asset Value in Excess of $1 Billion on Mexican Property

Abot Mining is pleased to announce potential pmining rocks equipment south africaroduction of up to 900,000 ounces of Au from processing of approximately 400,000 tons ores available on our JV Partner Mexican gold property. As reported earlier, initial flotation engineering results from the surface of the ore indicated a recovery value of 89.00% of the Au and showed 2.51 ounces of Au per metric ton of ore. This cumulative ore tonnage represents possible production of over $1.5 billion in today's gold prices.

The period to achieve such cumulative production of Au shall depend on Company's production agreement with various mills in the region that will include but not limited to key contract terms such as refining cost, acceptable recovery rates, mill downtime & maintenance period, capacity utilization, etc. There is currently no NI 43-101 compliant report for the identified allotted tonnage, however, the initial surface sampling show positive results and the Company expects feed grade to improve further as access the ore from...

African Eagle and Australia's Brightstar in £3m deal to develop Miyabi gold project

United Kingdom based explorer African Eagle Resources on Monday announced that it has executed a farm-in agreement with BrightStar Resources over it's Miyabi Golused mobile screening mining equipmentd Project in Tanzania. This is in line with the African-focused explorer's intention to farm out or spin out its non-core assets, and to concentrate on its nickel projects in Tanzania.

In the deal, BrightStar will spend US$3M in 30 months to earn a 50% interest in the Miyabi project. In a statement, African Eagle said a minimum of US$1M will be required within the first 12 months. African Eagle's Managing Director Mark Parker said: "We are pleased that Miyabi, which we believe to have a very promising future, will be developed by BrightStar. This is a company which shares our confidence in Tanzania as a mining investment destination and whose management and key staff have excellent track records in the industry. The deal recognises the value African Eagle has created at Miyabi while allowing the Company to maintain its focus on the Dutwa nickel project, now at pre-feasibility stage"

BrightStar may elect to earn a further 25% interest by completing a Feasibility Study for the Project Commenting on the joint venture agreement, BrightStar's Technical Director Mr Paul Payne said "The Miyabi Gold Project has substantial, shallow resources with excellent exploration upside. The work done by African Eagle has been first class and has provided a comprehensive regional database from which we expect to define additional resources."

ANCYL seeks to redefine nationalisation research mandate

Julius Malm sand machine pricepage4ema's ANC Youth League insists that the inquiry into the nationalisation of South Africa's mines must not be "depoliticised". The ANC Youth League, headed by Julius Malema, sought today to qualify the mandate of the party's National Executive Committee to a team that will investigate the nationalisation of the country's mines.

"The ANC Youth League will support all research on nationalisation of mines which is not depoliticised and taken out of its original political context and strategic vision of the ANC, the Freedom Charter," spokesman Floyd Shivambu said in a statement. The league appeared to threaten to reject a conclusion based on economic and business realities, saying "a depoliticised research outcome which ignores the politics of the national democratic revolutionary agenda will not find resonance in the African National Congress". The party's NEC announced after a weekend meeting that it would appoint a team to investigate nationalisation and report in time for its 2012 conference...

Buswell defends Fremantle iron ore block

The Statengineering design and drawing consultant for vertical grinding mille Opposition has accused the government of not following due process in ruling out a proposal to export iron ore through Fremantle before a formal submission has been made. Cazaly Resources has been blocked from exporting though Kwinana and wants to use the Fremantle Harbour until the upgrade of the Esperance Port is complete.

Fremantle MP Adele Carles opposes the idea because she believes it will open Fremantle up to becoming a bulk commodities port. The Transport Minister Troy Buswell has backed her position and the Opposition leader Eric Ripper says that is not right. "This looks like decision making in an informal, political way, rather than through usual approval processes," he said. "At the heart of it is a government failure to provide for the needs of this company, either at Kwinana or at Esperance." Mr Ripper says due process is not being followed. "Clearly both Ms Carles and Mr Buswell don't have confidence in the official approvals processes, why do we need an EPA if we've got Adele and Troy?" he asked. Mr Buswell has rejected the claims. "I think that's a ridiculous assertion," he said...

Indigenisation, a win-win situation: Kasukuwere

The National Indigenisation and Economic Empowerment Board has now taken over all negotiations pertaining to compliance with the indigenislab jaw crusher for limestone crushingpage4ation law, particularly in the mining sector as Government moves to consolidate the programme.

In an interview on Wednesday on the sidelines of the World Economic Forum on Africa, Indigenisation and Economic Empowerment Minister, Saviour Kasukuwere, said there was no going back on compliance but stressed the NIEEB would sit down with all parties involved to come up with a win-win situation. “The board will have technical teams and determine the true value of companies and what contributions the State has made. They will liase with banks, legal experts and others in determining negotiations. “Contrary to some beliefs, I am not trying to grab anything. I am not forcing anybody … we are just sitting down to discuss business,” said Kasukuwere in apparent reference to reports that his ministry had taken a confrontational approach to pursue selfish means under the indigenisation drive...

Sekoko coal signs offtake MoU with Eskom

Sekoko Coal announced today that the company has signed a Memorandum of Understanding (MoU) with South African power utility, Eskom. The MoU creates an enabling scenario for their Waterberg coal project to supply Eskom’s Matimba power station in terms of a coal supply and offtake agreement yet to be concluded.gravel and stone companies in nigeria

The Waterberg coal project is a Sekoko/Firestone Energy Limited joint venture near Lephalale in South Africa’s Limpopo Province. Coal production will start at about 43,000 tonnes per month in April 2012 from an open pit, ramping up to 83,000 tonnes per month by April 2015. The coal produced from this project will be of a product mix quality, and is in high demand from steel manufacturers around the world as it is the preferred feedstock for use in coal-fired powered stations, steel making and high-end custom coke manufacture.

The supply contract to Eskom will offer Sekoko Coal and its joint venture partner, Firestone Energy, a great opportunity to maximise value for their product as well as to establish a track record for reliable, high-quality coal production. Key aspects of the MoUinclude asix-year term from the start of first coal production (expected April 2012); Sekoko and Eskom will continue to negotiate, in good faith, with the objective of entering into a longer-term contract extension from 2018 to 2032; Sekoko JV will deliver coal quantities based upon Eskom's excess coal requirements and Eskom's burn plan as applicable from time to time, and in line with the contract coal supply schedule.

Sekoko’s Executive Chairman, Timothy Tebeila said: “This development with Eskom puts Sekoko JV in an advantageous position, and it can now also proceed with the development of phase two of the Waterberg coal project and the procuring of the necessary financing.

"In addition,” Tebeila added, “this MOU marks the largest commitment Eskom has ever made to an emerging black-owned Limpopo-based junior coal mining company at the Matimba power station, clearly indicating that Eskom is serious about introducing a second coal supplier in the Waterberg District’s Lephalale area; and this positions Sekoko to be the second coal supplier to Eskom’s power stations after Exxaro has been a sole supplier for more than 20 years in the region.”

Zambian minister against "ruinous" nationalisation

The contrast between the mining environment in Zambicomplete shanghai stone crushering planta and SA was stark at the first mining and energy conference in Zambia last week, where Zambian Mines Minister Maxwell Mwale said unequivocally that the nationalisation of his country’s mines was a failure that should never be repeated.

In SA, President Jacob Zuma — seemingly intent on not compromising any political support at the expense of keeping investors unsettled — last week told the African National Congress (ANC) Youth League conference that the task team established by the ANC was proceeding with its investigation into the nationalisation of mines. He was responding to a challenge from youth league leader Julius Malema, a strident supporter of nationalising SA’s mines. "We are still to see if the leadership has the potential and the political will to confront the mining capitalists," Mr Malema said at the conference last week. The results of the ANC’s study, which includes the Zambian experience, will form the basis for discussions at the party’s conference next year, where a decision will be made on whether to adopt nationalisation or find another way to secure the state’s involvement in the mining sector...

Eldorado Gold to De-List from Australian Securities Exchange

Eldorado Gold Corporation today confirmed its intention to be removed from the official list of the Australian Securities Exchange effectpermanent magnetic separator for iron oreive at the close of trading on August 31, 2012. Eldorado had previously announced on February 24, 2012 that it intended to de-list from the ASX.

Eldorado was admitted to the official list of the ASX on December 4, 2009, following the successful acquisition of Sino Gold Mining Limited by way of scheme of arrangement (Scheme). Only Eldorado common shares represented by Chess Depository Interests (CDIs) are quoted on the ASX. At the time of listing on the ASX the CDIs represented approximately 21.56% of Eldorado's issued share capital.

Since listing, increasing numbers of CDI holders have sought to convert their CDIs to common shares. CDIs now only represent approximately 1% of Eldorado's issued share capital.

Eldorado's decision to de-list is a result of: the low level of CDIs representing Eldorado common shares now quoted on the ASX compared to Eldorado's current issued share capital and the low level of trading on the ASX compared to the TSX and the NYSE. Eldorado has concluded that the financial, administrative, and compliance obligations of maintaining the listing are no longer justified.

The de-listing of Eldorado from the ASX is not expected to have any material impact on Eldorado's financial position and operating results.

Following the de-listing, Eldorado common shares will continue to trade on the TSX and the NYSE.

Souce: http://www.marketwatch.com

BC to update on Regent Pacific takeover

Shares in Pilbara iron ore player BC Iron have been placed in a trading halt while the company prepares tstone crusher business plano make an announcement about the status of its on-again, off-again takeover by Regent Pacific. BC said the trading halt was required pending receipt of an independent expert's report, which would provide a recommendation on a scheme of arrangement with Regent Pacific.

The company said it expected to make an announcement on the status of the scheme before the opening of trade on Wednesday. Hong Kong's Regent Pacific launched a $345 million cash offer for BC in January, but later abandoned the bid on fears it would be blocked by Ukrainian billionaire Gennadiy Bogolyubov, whose Consolidated Minerals holds a 21 per cent stake in BC. In March, BC appealed to the Takeovers Panel, which last month ruled Regent's bid should stand. Uncertainty surrounding the offer continued however with Regent Pacific suggesting its proposed funding arrangement for the offer had lapsed. But Regent later revealed it had secured a new $US155 million ($147 million) funding package, meaning the offer was back on track...

Alexander Mining signs royalty licence agreement with Metalvalue

Alexander is pleased to report that it has signed an agreement with Metalvalue for the use of the Company's mincrushing screening plant flow sheet autocaderal processing technology.

Metalvalue is a successful private business focused on the commercialisation of leading edge technologies in the natural resources industry, including in the iron ore beneficiation and steel business.

It is run by its founder, Alain Honnart, an engineer who has a distinguished career as a senior executive and expert in intellectual property commercialisation within the global metals business.

Whilst Group Industrial Director with the French multi-national Vallourec Group, he successfully created and managed several companies and joint ventures in China, Korea, India, Brazil, Sweden, USA and Europe.

Under the Agreement, which has a twenty year term, Metalvalue has been granted a non-exclusive and non-transferable licence to use and sub-licence the Leaching Technology.

This right is restricted to entities not on an exclusion list agreed between Alexander and Metalvalue. Under the Agreement, Metalvalue has the right to licence/sub-licence the Leaching Technology for potential discrete projects for the development of a particular mineral resource at a particular site.

However, for specific favourable opportunities these terms may be varied, at Alexander's sole discretion, to include multi-site licensing or general agreements to maximise commercialisation for mutual benefit with Metalvalue.

For saleable metal product obtained from processing using the Leaching Technology, Alexander will receive a gross sales royalty based on normal industry practice.

It is the intention that Metalvalue will identify new targets for the Leaching Technology and will assist in bringing these into production, using the Leaching Technology, thereby creating a new royalty stream for Alexander.

Martin Rosser, Chief Executive Officer, said: "The agreement with Metalvalue is a major commercial milestone for Alexander as it gives us the opportunity to develop a lucrative business relationship.

Metalvalue's Managing Director, Alain Honnart, has extensive industry expertise and a proven record in commercialising intellectual property, as well as having worldwide contacts at the highest executive level which complement those of Alexander. We are already working on significant opportunities with Metalvalue in three countries."

Areva finds 20,000 tonnes of uranium in Jordan says report

French nuclear giant Areva said on Tuesday it has discovered more than 20,000 tonnes of uranium in Jordan, which is trying to develop atomic energy to meet its growing needs.

"Last year, Areva discovered reserves of 12,300 tonnes of uranium in central Jordan. Further exploration proved that the same area contained more than 20,000 tonnes of uranium," state-run Petra news agency quoted the company as saying in a statement.

"At this important stage, we will start conducting feasibility and technical studies about uranium mining," the statement said.

"These reserves are strategic, helping Jordan produce nuclear fuel for the nuclear energy plants that it seeks to build."

Jordan, which imports 95 percent of its energy needs, is currently struggling to find alternatives to unstable Egyptian gas supplies, which normally cover 80 percent of the kingdom's power production.

Since 2011, the pipeline supplying gas from Egypt to both Israel and Jordan has been attacked 14 times.

With desert covering 92 percent of its territory, Jordan is one of the world's 10 driest countries and wants to use atomic energy to fire desalination plants to overcome its dire water shortage.

A consortium formed by Areva and Japan's Mitsubishi is competing with Russia's Atomstroyexport to build Jordan first nuclear plant.

PlatSearch to Seek Dual Listing on the Singapore Stock Exchange

PlatSearch is pleased to advise that it will be proposing to seek a dual listing onto the Catalist Board of the Singapore Exchange Securities Tpeluang usaha pemecah baturading Ltd (SGX). As part of this listing, the Company will also raise funds to expand exploration and to support its project search for more advanced opportunities as it seeks to achieve positive cash flow.

Catalist is a sponsor-supervised listing platform on the SGX with a number of similarities to other secondary bourses such as Alternative Investment Market (AIM) of the London Stock Exchange. The Catalist Board typically caters to fast growing smaller industrial and service companies with lower market capitalisations. It has recently opened to resource companies,including explorers and developers such as PlatSearch NL. PlatSearch has completed extensive assessment of the listing conditions and the appetite of the Singaporean market for a capital raising by a foreign resource company and is sufficiently encouraged to now commit to the task of achieving admission on Catalist. The Company has engaged the key service providers and...

Champion Minerals adds an extra 5% Interest in the Attikamagen Property to Labec Century Iron Ore

Champplans to build a vibrating screenion Minerals reports that, pursuant to the Attikamagen Option and Joint Venture Agreement entered into with Labec Century Iron Ore, a subsidiary of Century Iron Mines Corporation, Champion has signed and delivered to Labec Century transfers conveying to Labec Century an additional 5% interest in the Attikamagen Iron Property.

In February, 2012, Champion conveyed the initial 51% interest in the Attikamagen Iron Property to Labec Century.

In addition to the $7,500,000 in exploration and development work expenditures on the Attikamagen Iron Property funded by Labec Century required to earn the Initial Interest, Labec Century has increased its interest to 56% by funding a further $2,500,000 in exploration and development work on the Attikamagen Iron Property, well in advance of the May 12, 2013 deadline.

Labec Century has the option to further increase its interest to 60% by funding an additional $3,000,000 in exploration and development work on the Attikamagen Iron Property on or before May 12, 2014.

"Champion is pleased that Century Iron Mines Corporation, through its subsidiary, Labec Century, is continuing to progress exploration of the Attikamagen Iron Property. It is worth noting and repeating that Labec Century has attracted WISCO International Resources Development & Investment Limited as a very strong minority partner in the Attikamagen Iron Property," said Thomas G. Larsen, President and Chief Executive Officer of Champion.

"To Champion, WISCO's agreement to fund Labec Century with $40,000,000 for a 40% interest in Labec Century speaks loudly about the potential in the Attikamagen Iron Property."

Talvivaara has licence granted by Finnish Government to extract Uranium

Talvivaara Mining is pleased to announce that it was granted licence today to extract vibratory screen manufacturer in europeuranium as a by-product from its existing operations following the decision of the Finnish Government, issued on 1.3.2012 pursuant to the Nuclear Energy Act. The permit is valid throughout the life of the mine, however, no longer than until the end of 2054.

Talvivaara's aim is to start uranium recovery in 2012, as soon as it has all the necessary permits. The start of uranium production is further subject to, among others, Environmental Permit approval and chemical authorisation. The Environmental Permit application for uranium extraction was submitted to the Regional Environmental Permitting Agency in March 2011 and the decision on the permit is expected during Q2 2012. The construction permit for building a recovery plant was already granted to the Company last year. The Finnish Government decision follows European Commission approval for...

Eurasian Minerals announces the sale of the Sisorta JV Gold Property in Turkey

Eurasian Minerals is pleased to announce the execution of an Option Agreement with respect to the Sisorta gold property located idefinition of quarry crushing and screening plant machineryn north-central Turkey.

The Option Agreement is between EBX Madencilic, a Turkish corporation that controls the Sisorta property pursuant to a joint venture between its owners, and Colakoglu Ticari Yatirim A.S., a privately owned Turkish company. EBX Turkey is a joint venture owned 51% by a subsidiary of ASX listed Chesser Resources Limited and 49% by a subsidiary of EMX, and they are the "Sellers" under the Agreement. The obligations of EBX Turkey and the "Sellers" under the Agreement will be guaranteed by Chesser and EMX. The Sisorta JV project, located in the Eastern Pontides mineral belt, is a volcanic-hosted, near-surface, epithermal gold deposit with a NI 43-101 mineral resource at a 0.4 g/t cutoff of 91,000 indicated gold ounces from...

Legacy Iron Ore in trading halt pending share subscription agreement with NMDC

Legacy Iron Ore has been granted a trading halt by the ASX pending the release of an announcement is gold a metallic or nonmetallic mineralabout the execution of a share subscription agreement with National Mineral Corporation Limited of India.

The company expects to make an announcement on or before the commencement of trading on Tuesday 18th October 2011. Legacy secured NMDC as a cornerstone investor in a complex transaction on September 22 and a new company will be the developer of the Mt Bevan JV Iron Ore project, if shareholder and regulatory approval is obtained. The acquisition and deal would represent the first overseas acquisition by India NMDC which is the country largest iron ore producer. NMDC has a USD 4 billion war chest for acquisitions in bulk commodities. For its part NMDC would undertake an investment in Legacy and receive 50% of the equity in Legacy in return for a USD 19 million investment. Legacy Iron Ore would become NMDC exclusive investment vehicle in Australia. On September 30 Legacy said NMDC was committed to using Legacy for further acquisitions in bulk commodities. Several projects have already been...

Newmont issues warning on Boddington gold grades

Newmont Mining has sent shock waves through its investor base after warning that the gold grades at its huge Boddingtosecond hand 7ft symons cone crushers for salen mine south of Perth may be lower than expected, less than six months since the opening of the $US2.9 billion ($3.2 billion) project.

The US gold miner, one of the biggest producers of bullion in the world, used its second-quarter report yesterday to flag that production at Boddington this calendar year would be up to 7 per cent lower than planned at between 750,000 ounces and 825,000oz. If realised, Australia's biggest gold mine would produce almost $US60 million ($66 million) less gold this year than budgeted, based on last night's bullion price of $US1165.90 an ounce. Of more concern to investors was Newmont's admission that gold grades at Boddington were "lower than modelled" which had resulted in 12 per cent less contained gold being mined in the three months to June 30...