Resource News

RITV News Alert: Latest TSX Resource Estimate Updates

The following companies have filed resource estimate updates with the TSX.

RITV and shareKNOW.net calculate the value of these projects based on the latest metals prices. The tonnages, grades and recovery rates used are all 43-101 compliant unless otherwise stated, however the values stated are gross values and do not include cost data, which is often available at www.shareKNOW.net using the OPERATING CALCULATOR.

Go directly to the Resource Estimate tool at resourceINTELLIGENCE.net by clicking HERE.

Date	Name	Project	Metals	Prev. Insitu Value	Updated Insitu Value	% Change
3/10/2010	Kimber Resources Inc.	Monterde	Au, Ag	N/A	986,444,044,637	N/A
3/10/2010	International Tower Hill Mines Ltd.	Livengood	Au	12,234,614,085	18,087,450,792	48
3/9/2010	Noront Resources Ltd.	Eagle Nest	Ni, Cu, Au, Ag, Pt, Pd	2,005,583,005	2,340,885,366	17
3/9/2010	Allied Gold Ltd.	Simberi	Au	4,657,760,517	5,814,053,757	25

TSX Mine Financing Alerts: Who’s Got the Money?

The following companies have filed press releases pertaining to a financing on the TSX and Venture exchanges for mining and exploration activities.

Brokers, analysts and investors can use this information to help evaluate whether a company has the funds to continue the business of making mines to feed the mills that create the metals for myriad uses in today’s growing world. Whether it is a flow through, private placement, debenture, equity or any other form of public offering, you’ll find it here.

NEW: RITV and shareKNOW.net calculate the value of these projects based on the latest metals prices. The tonnages, grades and recovery rates used are all 43-101 compliant unless otherwise stated, however the values stated are gross values and do not include cost data, which is often available at www.shareKNOW.net using the OPERATING CALCULATOR. Go to www.shareknow.net now to begin evaluating prospective investments!

To see the Canadian Financing Archives click HERE.

Date	Company Name (Click to open profile)	Symbol	How Much?	Status
March 10, 2010	Bell Copper Corp	BCU	$1,166,460.	Closed
March 10, 2010	Lovitt Resources Inc	LRC	$720,000.	Cancelled
March 10, 2010	Alix Resources Corp	AIX	$750,000.	Closed
March 10, 2010	Rhyolite Resources Ltd	RYE	$1,000,000.	Closed
March 10, 2010	Valdez Gold Inc	VAZ	$900,000.	Closed
March 10, 2010	Largo Resources Ltd	LGO	$8,000,000.	Closed
March 10, 2010	Taku Gold Corp	TAK	$500,000.	Amendment
March 10, 2010	Adamus Resources Ltd	ADU	$8,424,000.	Proposed
March 10, 2010	Adamus Resources Ltd	ADU	$20,123,999.	Proposed
March 10, 2010	Iberian Minerals Corp	IZN	$30,422,880.	Proposed
March 10, 2010	St. Elias Mines Ltd	SLI	$2,025,000.	Proposed
March 10, 2010	Olympus Pacific Minerals Inc	OYM	$12,749,999.	Proposed
March 10, 2010	Paget Minerals Corp	PGS	$175,000.	Closed
March 10, 2010	Range Gold Corp	RGU	$500,000.	Proposed

Gold-Euro Link Turns Negative as Chinese Savers – World’s No.2 Buyers – Hit by Sub-Zero Interest Rates

London Gold Market Report

from Adrian Ash

BullionVault

08:55 EST, Thurs 11 March

Gold-Euro Link Turns Negative as Chinese Savers – World’s No.2 Buyers – Hit by Sub-Zero Interest Rates Read more

Cape Lambert sells Lady Annie copper mine to Asian buyer

CAPE Lambert Resources has sold its Lady Annie copper mine in Queensland to an Asian buyer for about $35 million more than it would have raised in an abandoned public float of the mine, executive chairman Tony Sage said.

Mr Sage told Dow Jones Newswires the initial public offering would have generated about $108.5m for Cape Lambert, with the company planning to retain a 15 per cent stake in the listed entity. Read more

China showing strong interest in SA mines – SA mines minister

JOHANNESBURG/NEW YORK (Reuters) -

South Africa’s mines minister said on Wednesday that China had shown strong interest in investing in the African country’s mining sector, and reassured investors there were no plans to nationalize mines.

China, Africa’s biggest emerging market partner, has been investing in the continent’s mining and energy sectors, and the minister said South Africa was a willing but cautious partner. Read more

As Cliffs Resources makes $400m public offering, S&P assigns ‘BBB-‘ rating

RENO, NV -

As Cliffs Natural Resources Wednesday announced a $400 million public offering of senior notes, Standard & Poor’s assigned a ‘BBB-‘ rating to the Cleveland-based largest producer of iron ore pellets in North America.

Last year Cliffs’ revenue decreased by 35% due to weak North American and European steels markets. North American iron ore sales volumes fell 28% while the company’s coal production incurred a loss due to the market environment. Read more

S. African Mine Output Rises for 1st Time Since July (Update1)

March 11 (Bloomberg) — South Africa, the largest producer of platinum and fourth-biggest coal exporter, said output from its mines increased for the first time in six months as demand for commodities picked up along with a global economic recovery.

Production rose 7.7 percent in January from a year earlier, the first gain since July, Statistics South Africa said on its Web site today. Iron ore expanded 24 percent and platinum group metals including palladium and rhodium climbed 17 percent. Read more

Keangnam Sells Madagascar Nickel Mine Stake for 35.1 Billion Won

March 10 (Bloomberg) — Keangnam Enterprises Ltd., a South Korean builder, agreed to sell stake in a Madagascar nickel mine to state-run Korea Resources Corp. for 35.1 billion won ($31 million). Read more

DIAMOND EXPLORATION: Sample from Churchill project returns 86.2 cpht

NUNAVUT – Shear Minerals (58.14%) of Edmonton and Stornoway Diamond Corp. (41.68%) of Vancouver report that the mini-bulk sample from the Notch kimberlite at their Churchill project graded 86.2 carats per hundred tonnes (cpht). A total of 129 diamonds larger than 1.18 mm were recovered from 17.26 dry tonnes of the sample. The five largest stones weigh 0.92, 0.81, 0.77, 0.63 and 0.63 ct. Read more

LITHIUM RESOURCES: Canadian Lithium outlines over 60 million tonnes at Quebec project

QUEBEC – Toronto-based Canada Lithium Corp. says its 100%-owned Quebec project 60 km north of Val d’Or contains a measured and indicated mineral resource of 31.6 million tonnes grading 1.11% Li₂O. There is also an additional inferred resource of 1.12% Li₂O. By comparison, the historical estimate was 15 million tonnes grading 1.14%.

The company says the mineralization occurs in a series of parallel, steeply dipping spodumene-bearing pegmatite dykes. The deposit stretches 1,000 metres in a northwest-southeast axis and is 550 metres wide. The deposit continues to at least 430 metres deep. It is amenable to open pit mining. Read more

Allied Gold lifts resources to 7.8 million ounces

The resource inventory for Allied Gold (ASX: ALD, TSX: ALG & AIM: AGLD) has been lifted significantly with added measured to indicated resources on Simberi Island, part of the Tabar Island group north of the Papua New Guinea mainland.

Executive chairman Mark Caruso said that the objective this year was to have 3 million oz of reserves and 10 million oz of resources on the Tabar Islands and at Gold Ridge in the Solomon Islands. Read more

Mining giant Vale seeks 90pc increase in iron ore prices

BRAZILIAN mining giant Vale has proposed a more than 90 per cent increase in iron ore prices in negotiations with Japanese steelmakers for fiscal 2010, The Nikkei reported today.

Vale is the world’s largest iron ore producer, supplying roughly 30 per cent of all iron ore transported by sea. It sold the raw material at about $US55 a tonne in fiscal 2009. Read more

China sets new record high for crude steel output in January

CHINA produced a record 52.53 million tonnes of crude steel in January, confirming market sentiment that the government’s efforts to curtail overproduction have gone nowhere.

“That policy has never been very successful,” Chen Yue, a steel analyst with Shanghai Cifco Futures, said. Read more

Gold “Refuses to Fall” as Central Banks Deny Inflation Risk in Low Rates, Money Creation

London Gold Market Report

from Adrian Ash

BullionVault

09:20 EST, Weds 10 March

Gold “Refuses to Fall” as Central Banks Deny Inflation Risk in Low Rates, Money Creation Read more

Miner goes the whole hog, bulks up in a big way

TWO weeks after lending Aurox Resources $13.6 million interest free to secure a valuable option over potential port capacity at Port Hedland, Atlas Iron Ore has decided to go the whole hog and acquire Aurox.

So Atlas proposed a merger, via a scheme of arrangement, with a scrip consideration of 1 Atlas share for every 3 Aurox shares, which implied a price of 74c an Aurox share — a whopping 173 per cent premium to Aurox’s pre-announcement share price of 27c. Read more

Copper rises on China imports

Allied Gold lifts resources to 7.8 million ounces

PERTH - -

The resource inventory for Allied Gold (ASX: ALD, TSX: ALG & AIM: AGLD) has been lifted significantly with added measured to indicated resources on Simberi Island, part of the Tabar Island group north of the Papua New Guinea mainland.

Executive chairman Mark Caruso said that the objective this year was to have 3 million oz of reserves and 10 million oz of resources on the Tabar Islands and at Gold Ridge in the Solomon Islands. Read more

NMDC Forecasts Record Profit on Increasing Iron-Ore Prices

March 10 (Bloomberg) — NMDC Ltd., Asia’s third-largest iron-ore producer by value, forecast a record profit for the next fiscal year as demand from construction and automobile companies boosts prices of the key steelmaking raw material.

Prices of iron-ore lumps and fines may increase as much as 30 percent in the year starting next month helping Hyderabad, India- based NMDC’s profit exceed net income posted in the year ended March 31, Finance Director S. Thiagarajan said, without giving numbers. Profit rose to 43.72 billion rupees ($962 million) in the last fiscal year, the company’s highest ever. Read more

Brazil Stocks Jump on Outlook for Iron Ore Prices; CSN Surges

March 9 (Bloomberg) — Brazilian stocks rallied to the highest since January after Banco Bradesco SA said iron ore prices may almost double this year and homebuilders rallied on the outlook for higher sales.

Cia. Siderurgica Nacional SA, Brazil’s third-biggest steelmaker, rose the most in three months after its chief executive officer estimated its mining spinoff may be worth $20 billion. PDG Realty SA Empreendimentos & Participacoes gained as Goldman Sachs Group Inc. said shares will benefit from the announcement of a government housing program. Vale SA and Usinas Siderurgicas de Minas Gerais SA surged after Bradesco estimated ore prices may increase 96 percent in 2010. Read more

Maanshan Steel’s Coal Imports to Rise; Buys From BHP (Update1)

March 10 (Bloomberg) — Maanshan Iron & Steel Co., the second-biggest Chinese steelmaker listed in Hong Kong, will increase coking coal imports this year, adding to rising global demand that’s sent prices soaring.

The mill bought between 800,000 metric tons and 900,000 tons of the raw material from BHP Billiton Ltd., the biggest exporter, last year, Chairman Gu Jian Guo said in an interview. “Imports from BHP will likely be sustained,” he said. Read more

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