Chinese has extended Rio probe by a month
China has extended by a month a probe into suspected corporate espionage by employees of Rio Tinto, a defence lawyer said, a case which strained ties between Australia and its second-largest trade partner.
The four employees, including Australian citizen Stern Hu, were detained on suspicion of stealing state secrets shortly before a deadline for concluding annual iron ore negotiations between Chinese steel mills and the world’s three top miners, Rio, BHP Billiton and Vale. Read more
Jim Rogers : the U.S. government bond market will be the next bubble
Investor Jim Rogers, a prominent commodities bull, said on Thursday the U.S. government bond market will be the next bubble to burst due to unsustainable borrowing, and agricultural commodities and precious metals are among his favorite investment picks.
Rogers also said stock markets could head for a pullback following a strong rally.
“It’s overdue for a correction. Certainly, it would not be surprising if there were a correction after a straight-up move for six months,” Rogers told Reuters Television in an interview. Read more
WEX to Present at BioContact 2009 Conference
VANCOUVER, BRITISH COLUMBIA- WEX Pharmaceuticals Inc. announced today that Dr. Bin Huang, President and Chief Executive Officer, will present an overview of WEX Pharmaceuticals Inc. at BioContact Quebec 2009, which will take place this week in Quebec City. Dr. Huang will be presenting on Wednesday, October 7 at 3:30pm at the Chateau Frontenac, Salle Frontenac room.
WEX Pharmaceuticals Inc. is dedicated to the discovery, development, manufacture and commercialization of innovative drug products to treat pain. The Company’s principal business strategy is to derive drugs from naturally occurring toxins and develop proprietary products for the global market. Read more
Copper King Commences Regular Shipments of Copper Concentrates
MILFORD, UT- Copper King Mining Corporation and its wholly owned subsidiary, Western Utah Copper Company, are pleased to announce that they are scheduled to begin regular shipments of copper concentrate beginning September 21, 2009 to a receiving smelter pursuant to the Company’s concentrate sale agreement with RBS Sempra Metals & Concentrates, LLC on behalf of The Royal Bank of Scotland PLC. The Company expects to initially ship one truck load per day, five days a week, gradually increasing to three trucks per day, five days a week. The Company also announces that it further expects to increase its magnetite production by as much as 100%, from the current level of approximately 2,000 tons every ten days to 4,000 tons of magnetite concentrate every ten days. Shipment of magnetite is currently by rail, while copper concentrate shipments will initially be by truck to a domestic receiving smelter. Read more
International Wayside Gold Mines Announces Upcoming Resource Development and Drill Programs
VANCOUVER, BRITISH COLUMBIA– International Wayside Gold Mines Ltd. announced today its near term development and drill programs designed to advance its NI 43-101 compliant resources at the Cariboo Gold Project.
Upcoming Drill Programs and Resource Development
Bonanza Ledge -
Management received a positive Pre-Feasibility Study (”PFS”) on the proposed Bonanza Ledge open pit gold mine (see News Release 09-22, Sept. 10, 2009) and is taking the necessary steps to advance the project to production. In addition, drilling to improve the resources is in progress. 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
