Grande Cache Coal Mining Corporation Reports Net Income of $20.1 Million During Fiscal 2010
Grande Cache Coal Mining Corporation announced today its financial and operational results for the three and twelve months ended March 31, 2010. The audited consolidated financial statements Corporation and its discussion and analysis for the fiscal year ended March 31, 2010 will be available at www.sedar.com and the Corporation’s website www.gccoal.com.
- Grande Cache Coal Mining sold 1.77 million tons of coal mining in a record fiscal year ended March 31, 2010, representing an increase of 67% on turnover of 1.06 million tonnes in the previous fiscal year. Sales in the fourth quarter amounted to 0.43 million tonnes compared to 0.11 million tonnes in the comparable period last year.
- Net income for the year 2010 was $ 20,100,000, or $ 0.21 per share ($ 0.20 per diluted share), compared to $ 106,200,000, or $ 1.18 per share ($ 1, 15 per diluted share) in fiscal 2009. The fourth quarter net income was $ 1,400,000 ($ 0.01 per basic and diluted share) versus $ 18,900,000 ($ 0.20 per basic and diluted share) in the same period last year. Read more
No Survivors Found After West Virginia Mine Disaster
MONTCOAL, W.Va. – A painful wait four days came to a tragic end early Saturday when rescue workers found no survivors in an underground mine after a massive explosion earlier this week.
The news on the Upper bough mine about 30 miles south of Charleston brought the death toll to 29 in the country’s worst mine disaster in four decades.
“We did not pray for the miracle we were receiving,” said Governor Joe Manchin III, looking somber, his voice barely audible. “This tour has ended and now the healing will begin.”
The announcement closed a grim Appalachian ritual and the third largest mining disaster in the state in the past four years.
Grim faced and exhausted rescue workers emerged from the mines around noon after spending much of the evening Wending their way through a maze of corridors-cross more than 1000 meters underground. Read more
Permitting Progresses at Seabridge Gold’s KSM Project
Seabridge Gold announced that the environmental licensing process for its 100% owned KSM Project in northern British Columbia [BC] is on track. The Canadian Environmental Assessment Agency (CEAA) has its “proposed scope of Environmental Assessment” document and the public invited to comment on a period of 30 days. This document details the elements of the proposed KSM Project and the scope of the environmental impact assessment should address the “profound study regulation”, as stated in the Canadian Environmental Assessment Act.
Seabridge President Rudi Fronk stated that “The release of this document by the CEAA allows us to stay on track with the preparation of our environmental assessment application document which we intend to meet the federal and provincial governments to submit the end of 2010. We have worked hard with the federal regulators this document available since July 2009 of CEAA Notice the Commencement released an environmental assessment. We look forward to reviewing the comments from the public, such public participation in Canadian environmental assessments are extremely important policy challenge commitment by the federal government. The environmental assessment process that we have entered is identical to the process for releasing the final permits for the Morrison and Mount Milligan Copper-Gold project (including both located in Christ) and the proposed detour Lake gold mine in Ontario. ” Read more
Conway Resources Completes Acquisition of Rare Metals and Lithium Property Close to First Gold Exploration Discovery
Conway Resources Inc. is pleased to announce that the agreement announced on 02.08.2010, whereby the Company will be a 100% stake in 14 closed contiguous mining claims covering an area of 742 ha in East Main Township, just a few miles north of the first gold property.
The Company’s final terms of the agreement are fulfilled by the second payment of $ 20,000 (for a total of $ 40,000) and the issuance of 400,000 ordinary shares in exchange for the seller claims. Conway will also pay a 5% finder’s fee and the issuance of an additional 20,000 ordinary shares as part of the transaction. Read more
Australia Gold Miner Newcrest Mining to Complete Lihir Gold Takeover in September
Australia’s largest gold digger Newcrest Mining said Tuesday its due diligence on Lihir Gold Limited and is expected to complete the A $ 9,500,000,000 (7.75 billion U.S. dollars) takeover of its smaller compatriot complete in September.
The completion triggers a period of exclusivity that Lihir is required to cease all discussions with third parties on a competitive proposal, Newcrest said in a statement.
The merger implementation agreement signed on May 4 was allowed to Lihir existing discussions with third parties to continue until 06.08, but not to attract offers.
Local media had speculated that at least four other companies had warm acquire Lihir, Newcrest’s no competing offer arose.
The combined entity will be the capacity to produce approximately 2.5 million ounces per year of gold over 10 projects, Papua New Guinea, Australia, Indonesia and Ivory Coast in West Africa and a market capitalization of A $ 25 billion, making it the fourth-largest gold producer in the world by Newcrest. Read more
Key Gold Holding Announces Stock Options
Gold Key Holding Inc. announces that its Board of Directors approved June 8, 2010, the grant of 800,000 stock options to certain directors, officers and suppliers to acquire common shares of capital stock of Gold Key Holding Inc.. at an exercise price of $ 0.125 per share until June 8, 2015. This grant of options to purchase shares is made pursuant to the terms of the Option Plan to purchase shares of the Company currently in force.
About Gold Key Holding
Gold Key Holding is a junior exploration company listed on the mining side of the TSX Venture Exchange with a concentration in the gold sector.
Forward Looking Statements
This document contains certain forward-looking statements that involve known and unknown risks, delays and uncertainties that are beyond the control of the Company. The results, performance or achievements of the Company’s actual may differ materially from results, performance or expectations contained in such forward-looking statements. Read more
