China : Yuguang says to halt 4,000 T/mth lead sinter
Yuguang said the sintering system would stop production for improvements after a regular overhaul. The smelter would enlarge its purchases of lead bullions, used to produce refined lead, to fill up the deficiency due to the closure, it said.
China’s Henan Yuguang Gold & Lead Co Ltd (600531.SS), the country’s top lead producer, said on Saturday the smelter would shut down its sintering system which can produce 4,000 tonnes of lead bullions.
Yuguang did not give a timeframe for the closure in the statement posted on the official Shanghai Securities News. Read more
Aberdeen NAV of $1.02 Per Share and Second Quarter Financial Results
TORONTO, ONTARIO– ABERDEEN INTERNATIONAL INC. (”Aberdeen”, or the “Company”) is pleased to announce that it has released its financial results for the quarter ending July 31, 2009.
As at July 31, 2009, NAV (”Aberdeen’s Net Asset Value”) was $89.2 million, or $1.02 per share. The components of Aberdeen’s NAV as at July 31, 2009 are as follows:
- Cash and cash equivalents of $1.3 million;
- Portfolio Investments at estimated fair value of $44.9 million;
- Estimated fair value of the 1% NSR of $35.0 million;
- Other assets of $19.8 million (including principal receivable from Aberdeen Loan Agreement to Simmer and Jack of $10.8 million); less Read more
Euronav Launches an Offer of Up to USD 200 Million Fixed Rate Convertible Bonds, Due 2015
Euronav (‘Euronav NV’) announces that it has launched today an offering (the ‘Offering’) of up to USD 200 million fixed rate senior unsecured convertible bonds, due 2015 (the ‘Bonds’).
Antwerp, Belgium, September 06, 2009 –(PR.com)– The Bonds will be issued at 100 per cent of their principal amount and are expected to bear interest between 6 per cent and 6.50 per cent per annum, payable semi-annually in arrear. The initial conversion price is expected to be set at a premium of between 25 per cent and 30 per cent to the volume weighted average price of Euronav’s ordinary shares on Euronext Brussels on the day prior to the launch of the Offering.
The final terms of the Bonds are expected to be announced in a separate press release later today. Trading of Euronav’s ordinary shares on Euronext Brussels has been suspended and will resume after the announcement of the final terms.
The net proceeds from the issue of the Bonds will be used by Euronav to diversify its funding sources, strengthen its balance sheet liquidity, for general corporate and working capital purposes as well as to fund potential acquisitions that may arise in the future.
The Bonds will be placed with institutional investors (outside the United States) by HSBC Bank plc, acting as lead manager in connection with the Offering, ING Belgium SA/NV acting as co-manager and Clarkson Investment Services Limited acting as placing agent.
Payment for and issue of the Bonds is expected to be on or about 24 September 2009. On or before such time an offering circular will be made available by Euronav.
Application is intended to be made for the admission of the Bonds to the official list of the Luxembourg Stock Exchange and for the admission of the Bonds to trading on the Luxembourg Stock Exchange’s Euro MTF Market.
Australian Solomons Gold Limited Gold Ridge Update
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Australian Solomons Gold Limited (”ASG” or the “Company”) (TSX:SGA) today announced that it is recommencing exploration activities with a 1,000 metre drill programme to test for updip extensions of the mineralisation discovered beneath the Charivunga Gorge. The Charivunga Gorge results show deep, consistent mineralised strataform zones commencing at 120m vertical depth, and up to 240m thick and at least 200m wide. The mineralization is open to the west (updip). This updip zone is close to the Kupers open cut as currently designed, and could form an extension to this open cut, or prove to be a stand alone open cut. Given the close proximity of the updip zone, it would be easily accessible along the proposed mine haul roads and would provide a logical extension to the current seven year mine life. Interpretation of the Charivunga Gorge drilling results, supported by scattered moderate to high grade soil sample values in the area, indicate that near surface mineralisation is likely to exist. Read more
Sunergy Announces Kerry Bjornson, CEO Joins Company’s Advisory Board
SCOTTSDALE, AZ–(Marketwire – August 10, 2009) – Sunergy, Inc. (the “Company”) (OTCBB: SNEY) is pleased to announce the appointment of Kerry Bjornson, CEO of Gold Canyon Mining and Construction of Apache Junction, Arizona, to the Company’s Advisory Board. Mr. Bjornson previously ran the American Asphalt of Las Vegas, Nevada, contract mining business which was sold to become Gold Canyon Mining and Construction. Gold Canyon has substantial mining contracts in Arizona, Nevada and other areas in the US with both copper and gold producers with Major mining companies, including Newmont Mining at their Phoenix Copper/Gold Project in Battle Mountain, Nevada. They have about 200 employees and operate a few hundred pieces of heavy mining/earth moving equipment. Read more
East Asia Minerals Encounters 4.31 g/t Gold Over 51 Metres in Wider Interval of 2.25 g/t Gold Over 142.9 Metres From Diamond Drilling at Miwah
VANCOUVER, BRITISH COLUMBIA–(Marketwire – Aug. 10, 2009) – East Asia Minerals Corporation (TSX VENTURE:EAS) reports that assays have been received for an additional diamond drill hole at its flagship Miwah Gold Project in Aceh Province, Northern Sumatra, West Indonesia. The results continue to support the interpretation of shallow out-flowed, laterally extensive gold mineralization controlled by higher-grade feeder structures that cut through the 1.2 kilometre long Miwah Gold Zone. Drill hole EMD003 encountered 2.25 g/t gold over 142.9 metres, including 4.31 g/t gold over 51.0 metres. Read more
