Brazil Discards Iron export Tax Following Vale Talks
Brazil has scrapped a proposal to enforce an iron export tax after mining company Vale decided to increase investments in Brazil under pressure from the government.
The government, however, is still contemplating a hike in mining royalties that is being opposed by the industry because it would affect investment in the sector.
The Brazilian iron ore producer decided to increase its investments in 2010 to $12.9bn, a 30percen hike, following an announcement to invest $5.6bn in the state of Minas Gerais by 2015, according to Mining Weekly Online. Read more
Versatile Announces Investment in Equus
VANCOUVER, CANADA-Versatile Systems Inc., announces that the Company, through a wholly owned U.S. subsidiary , has acquired an 8.3% position in Equus Total Return, Inc. for U.S. $2.4 million.
The Company filed a Schedule 13D today with the U.S. Securities and Exchange Commission and under item 4 for the “Purpose of Transaction” stated:
The Reporting Persons purchased the shares of Common Stock reported herein based on the Reporting Persons’ belief that the Common Stock at current market prices are undervalued and represent an attractive investment opportunity. Read more
Allied Gold to Make Agreed Takeover Offer for ASG
BRISBANE, QUEENSLAND–(Marketwire – Sept. 16, 2009) -
THIS PRESS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES AND SHALL NOT BE DISSEMINATED TO UNITED STATES NEWS SERVICES.
Allied Gold Limited and Australian Solomons Gold Limited today announce that Allied Gold will make an agreed off-market takeover offer through a wholly owned subsidiary for all of the issued shares of ASG pursuant to the Corporations Act and Canadian securities laws .
Allied Gold’s Executive Chairman, Mark Caruso, said: “A combination of these two organisations will deliver significant value to both sets of shareholders, creating a company with 2.2M ounces of reserves and 6.7M ounces of resources and a near term production profile in excess of 300,000oz p.a. by 2013 financial year, through Allied Gold’s planned organic oxide and sulphide expansions and the Gold Ridge project development. Investors will have exposure to a portfolio of high quality gold assets with exploration upside and significant production within the Pacific Rim.” Read more
Blue Ribbon To Hold Conference Call And Webcast
Citadel HYTES Fund (TSX:CHF.UN)
Series S-1 income Fund (TSX:SRC.UN)
Citadel Premium Income Fund (TSX:CPF.UN)
Citadel S-1 Income Trust Fund (TSX:SDL.UN)
Citadel Diversified Investment Trust (TSX:CTD.UN)
TORONTO, ONTARIO–(Marketwire – Sept. 16, 2009) – Blue Ribbon Fund Management Ltd. today announced it will hold a conference call and live webcast at 10:30 a.m. on Thursday, September 17, 2009. Read more
Allied Gold to Make Agreed Takeover Offer for ASG
BRISBANE, QUEENSLAND– Allied Gold (Allied Gold Limited ) and ASG (Australian Solomons Gold Limited ) today announce that Allied Gold will make an agreed off-market takeover offer through a wholly owned subsidiary for all of the issued shares of ASG pursuant to the Corporations Act and Canadian securities laws (the Offer).
Allied Gold’s Executive Chairman, Mark Caruso, said: “A combination of these two organisations will deliver significant value to both sets of shareholders, creating a company with 2.2M ounces of reserves and 6.7M ounces of resources and a near term production profile in excess of 300,000oz p.a. by 2013 financial year, through Allied Gold’s planned organic oxide and sulphide expansions and the Gold Ridge project development. Investors will have exposure to a portfolio of high quality gold assets with exploration upside and significant production within the Pacific Rim.” Read more
Timberline Provides Butte Highlands Gold Project Permitting Update
Timberline Resources Corporation today provides a permitting update for its Butte Highlands Gold Project in southwestern Montana.
As recently announced, Timberline filed its Underground Exploration Plan with Montana’s Department of Environmental Quality (DEQ) and has received review comments from the MT DEQ on the plan. In general, the review letter indicates that “the proposal and appendices are generally adequate and give detailed information on the many aspects of the project” and outlines the items for further comment by Timberline.
Paul Dircksen, Timberline VP Exploration stated, “Our geologic staff and Klepfer Mining Services, LLC have reviewed the MT DEQ questions and find them well defined and reasonable in nature. We are currently addressing all items and plan to submit our reply promptly next week. There do not appear to be any unexpected impediments to our permitting process, and the project remains on schedule.” Read more
