Xtract raises funds to revive Mozambique mine 2016-11-03Xtract Resources has entered into a £980 000 subscription agreement with YA II EQ to provide additional working capital to further develop its Manica gold mine, in Mozambique. Xtract chairperson Colin Bird reiterated that the company was now solely focused on its Manica project after having stopped investing in the Chepica gold/copper mine, in Chile.
Pasinex Resources Announces High Grade DSO Sulphide Mineral Sale from the 50% owned Pinargozu Zn Mine 2016-11-03
TORONTO, ONTARIO--(Marketwired - Nov. 3, 2016) - Pasinex Resources Limited (CSE:PSE)(CSE:PSE.CN)(FRANKFURT:PNX) (the "Company" or "Pasinex") today announced its first sale of direct shipping (DSO) high-grade zinc sulphide material from its 50%-owned Pinargozu zinc mine in Turkey. The joint venture company Horzum AS reported a sale of 991 tonnes averaging 46.82% Zn. The approximate value of the product realized was over US$700 per tonne.
Eastmain Resources Reports Initial Drilling and Channel Sampling Results for Eleonore South, James Bay Region, Quebec 2016-11-03
TORONTO, ONTARIO--(Marketwired - Nov. 3, 2016) - Eastmain Resources Inc. ("Eastmain" or the "Company") (TSX:ER) is pleased to announce the reports of the Moni gold prospect channel sampling results and the first five diamond drill holes of the 12-hole Phase 1 Program (see FIGURES 1 - 4 and TABLE 1 attached). Assays are pending on the remaining seven holes. The results of the entire Phase 1 program will be used to determine the Phase 2 program expected to begin in early 2017 at the Éléonore South Joint Venture Property, in James Bay, Quebec.
South32 makes first acquisition, pays $200m for Peabody mine in Australia 2016-11-03iversified miner South32 has made its first acquisition since demerging from major BHP Billiton, spending $200-million on US major Peabody Energy’s Metropolitan colliery and its 16.67% stake in the Port Kembla coal terminal, in New South Wales. “The Metropolitan colliery is a natural fit within our portfolio and the acquisition is consistent with our strategy to invest in high-quality mining operations where we can create value,” Souht32 CEO Graham Kerr said on Thursday.