February 2010

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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
February 25, 2010	Arcturus Ventures Inc	AZN	$250,000.	Closed
February 25, 2010	Rainy River Resources Ltd	RR	$55,014,300.	Closed
February 25, 2010	Afrasia Mineral Fields Inc	AFS	$12,500,000.	Proposed
February 25, 2010	Andean American Mining Corp	AAG	$100,000.	Proposed
February 25, 2010	Canada Fluorspar Inc	CFI	$1,199,999.	Proposed

Gold Confirms 10-Year Bull Pattern as Inflation & Low US Rates “Support Prices Long-Term”

London Gold Market Report

from Adrian Ash

BullionVault

08:40 EST, Fri 26 Feb.

Gold Confirms 10-Year Bull Pattern as Inflation & Low US Rates “Support Prices Long-Term” Read more

PanAust in talks on proposed acquisition

COPPER-GOLD miner PanAust has entered a trading halt, saying it is in discussions for an acquisition with a party located in a different timezone.

In its full year results statement yesterday, PanAust said it was pursuing acquisition opportunities globally, with a preference for producing or pre-development stage copper assets that could support annual output of 50,000 tonnes of copper. Read more

Newmont’s Q4 profit beats the Street

Gold producer Newmont Mining Corp. said yesterday that fourth-quarter profit soared, easily beating Wall Street estimates, as revenue almost doubled on record prices for the precious metal. Net earnings jumped to US$558-million, or US$1.13 per share, from US$4-million (US1¢) a year earlier. But Newmont backed off its previous forecast for a 5%-to-10% gold production increase this year, saying that 2010 production was expected to increase slightly. Read more

Petra sells massive diamond for record $35.3m

LONDON (Reuters) -

Petra Diamonds sold a 507-carat diamond for $35.3 million on Friday, breaking a record as the highest price ever paid for a rough diamond.

Analysts had estimated the value of the stone, one of the 20 biggest high-quality rough diamonds, at around $25 million. Read more

FNX posts 4th-quarter turnaround

FNX Mining Co. Inc. (FNX-T 12.41  –  –%) says it had a $32.1-million profit or 31 cents per share in the fourth quarter, with $108.6-million in revenue. Read more

Asian Stocks Rise on Woolworths, ANZ Earnings; Unicom Climbs

Feb. 26 (Bloomberg) — Asian stocks rose, driving the MSCI Asia Pacific Index to its biggest weekly gain in seven, as Woolworths Ltd. and Australia & New Zealand Banking Group Ltd. reported increased earnings and oil prices climbed.

Woolworths Ltd., Australia’s biggest retailer, climbed 5.5 percent as it announced a share buyback. ANZ, the No. 3 bank in Australia by market value, rose 4 percent after saying profit rose. PetroChina Co., China’s largest oil producer, climbed 1.6 percent in Hong Kong. China Unicom (Hong Kong) Ltd. surged 7.6 percent after Deutsche Bank AG recommended buying the stock. Read more

Minara Resources swings to a profit, exploring growth options

 MINARA Resources has posted a net profit of $48.5 million for 2009, compared with a loss of $19.8 million the previous year.

Revenue rose 5 per cent on the year to $446.1m, and the Perth-based miner had cash or cash equivalents of $247.1m at the end of December, compared with $142.5m last year. Read more

Gold gains as investors seek haven

 GOLD rose as weaker-than-expected economic data and continued worries on Greek debt sent participants into the metal as a safe haven, a departure from recent trading as a risk asset.

April gold rose $US11.30, or 1 per cent, to settle at $US1108.50 an ounce on the Comex division of the New York Mercantile Exchange. Read more

Great Basin’s two developing gold mines making good progress

GRONINGEN - 

Great Basin Gold, which is currently bringing two gold mines to production, announced a loss of C$0.03 per share for the fourth quarter of 2009, an improvement on the C$0.05 per share loss it reported in the third quarter. 

The group which is currently developing the Burnstone project in South Africa and the Hollister project in Nevada, also announced a reduced net loss for the year from C$0.40 per share in 2008 to C$0.16 in 2009. Read more

Cameco profit jumps on sale of Centerra stake

SASKATOON – Uranium giant Cameco Corp. reported fourth quarter earnings late Wednesday of $598-million, or $1.52 per share, compared with $31-million, or eight cents per share, during the same quarter in 2008, and also announced a potential startup date for the Cigar Lake uranium mine.

On an adjusted basis, net earnings were $248-million, or 63 cents a share, compared with $179-million, or 49 cents a year earlier. Read more

Posco to Pursue Mine Investments ‘More Aggressively’ (Update2)

Newmont Profit Jumps on Higher Gold Price, Production (Update4)

Net income climbed to $558 million, or $1.13 a share, from $4 million, or 1 cent, a year earlier, Greenwood Village, Colorado-based Newmont said today in a statement. Sales rose 90 percent to $2.52 billion. Profit excluding some items was $1.14 a share. The average estimate of 12 analysts surveyed by Bloomberg was for profit of 86 cents. Read more

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
February 24, 2010	Champion Bear Resources Ltd	CBA	$152,000.	Closed
February 24, 2010	Mountain Boy Minerals Ltd	MTB	$1,295,000.	Closed
February 24, 2010	Mountain Boy Minerals Ltd	MTB	$150,000.	Closed
February 24, 2010	Gleichen Resources Ltd	GRL	$52,360,000.	Closed
February 24, 2010	Tyhee Development Corp	TDC	$724,500.	Closed
February 24, 2010	MagIndustries Corp	MAA	$43,000,000.	Closed
February 24, 2010	Scorpio Gold Corp	SGN	$9,999,999.	Proposed
February 24, 2010	Intl Montoro Resources Inc	IMT	$150,000.	Proposed
February 24, 2010	Taku Gold Corp	TAK	$400,000.	Proposed
February 24, 2010	Adroit Resources Inc	ADT	$402,800.	Proposed
February 24, 2010	Edgewater Exploration Ltd	EDW	$23,625,000.	Amendment
February 24, 2010	Cdn Spirit Resources Inc	SPI	$4,488,000.	Closed
February 24, 2010	Hawk Uranium Inc	HUI	$17,331.	Closed
February 24, 2010	Happy Creek Minerals Ltd	HPY	$1,400,000.	Proposed
February 24, 2010	Hawk Uranium Inc	HUI	$26,162.	Closed

Gold Prices “Subduing Demand” as Euro and S&P Correlations Slip

London Gold Market Report

from Adrian Ash

BullionVault

06:45 EST, Thurs 25 Feb.

Gold Prices “Subduing Demand” as Euro and S&P Correlations Slip Read more

OZ Minerals dangles a dividend carrot to investors

OZ Minerals is looking to reward investors with a dividend this year as it continues to plan expansion beyond being a one-mine company and spend some of the $1.08 billion in cash it is holding.

Chief executive Terry Burgess, revealing the annual results yesterday, said the Melbourne-based miner was still focused on implementing the strategy he introduced three months ago, which included targeting copper acquisitions in low-risk regions. Read more

Sharp increases for iron ore predicted

SHARP increases of as much as 60-70 per cent in the 2010-11 iron ore term price are “no longer out of the ballpark” as global miners increasingly support a move away from the decades-old benchmark pricing system, a mining industry source says.

That is in stark contrast to the 30-40 per cent increase miners were reported to be demanding when informal talks began several months ago. Read more

Strong start to 2010 gold demand in China, India – WGC

BEIJING (Reuters) -

Gold demand by the world’s top two consumers has started strong in 2010, with India’s jewellery industry buying regularly and tighter monetary policy in China not affecting purchases, the World Gold Council said on Thursday.

Gold XAU= accounted for 42 percent of global demand between the October 2008 and September 2009 period of the financial crisis, up from 26 percent the year before, while jewellery demand, a normal mainstay, weakened, the London-based WGC said. Read more

Nyrstar says 2009 saw a return to profit, will pay dividend

BRUSSELS (Reuters) -

Belgium’s Nyrstar (NYR.BR: Quote), the world’s biggest producer of zinc returned to profit in 2009 with a sharp reduction of costs and said it would once again pay out a dividend.

Underlying operating costs per tonne were down 14 percent from 2008, and the group said it was on track to achieve annual savings of 75 million euros ($101.6 million) by the end of this year. Read more

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