Jinshan Gold Mines to get loans from the China National Gold Group. Value of loans approved for U.S. $ 40 million. Loan facility must obtain approval from the Toronto Stock Exchange. The proceeds will be used by Jinshan Gold Mines to pay the bill draft which was published in December, 2006 valued at CDN $ 30 million and promissory notes issued in June, 2007 valued at CDN $ 12.5 million. Read more

TORONTO, ONTARIO — (Marketwire) — 07/17/09 — Beartooth Platinum Corporation (TSX VENTURE: BTP) (“Beartooth”) and Kria Resources Inc. (“Kria”), a private company, are pleased to announce the closing of the previously-announced acquisition of all of the issued and outstanding securities of Kria by way of a statutory plan of arrangement (the “Acquisition”).

As a result of the completion of the Acquisition, the common shares of Beartooth have been consolidated on the basis of one new common share (a “New Kria Share”) for every twenty old Beartooth shares. The current issued and outstanding share capital of Kria consists of 39,178,285 common shares. Accordingly, accounting for the share consolidation, upon completion of the Arrangement there will be approximately 47,312,364 New Kria Shares issued and outstanding.

Pursuant to the terms of an escrow agreement (the “Escrow Agreement”) dated July 3, 2009 among the resulting issuer (“New Kria”), Equity Transfer & Trust Company and certain escrow security holders, an aggregate of 5,341,638 New Kria shares have been placed in escrow, whereby 5% of such shares will be released immediately upon the issuance of the TSX Venture Exchange bulletin evidencing final acceptance of the Acquisition (the “Bulletin”) and the balance of such shares shall be released in 5%, 10% and 15% intervals every 6 months thereafter, with the remaining 40% of such shares to be released from escrow three years from the date of the Bulletin. In addition, options to purchase an aggregate of 3,275,000 New Kria shares and 245,703 warrants to purchase an aggregate of 245,703 New Kria Shares held by certain principals of the resulting issuer are subject to the terms of the Escrow Agreement, whereby 5% of such options were released immediately upon the issuance of the Bulletin and the balance of such options shall be released in 5%, 10% and 15% intervals every six months thereafter, with the remaining 40% of such options to be released from escrow three years from the date of the Bulletin. Read more

HONG KONG, July 17 /PRNewswire-FirstCall/ — CHINA NATURAL RESOURCES, INC. (NasdaqCM: CHNR), a company based in the People’s Republic of China (“PRC”), today announced that, on July 10, 2009, it consummated the acquisition of (a) all of the issued and outstanding capital stock of Pineboom Investments Limited and its wholly-owned subsidiaries (the “Coal Group”) and (b) the outstanding indebtedness owing by the Coal Group to the related-party seller on the closing date.

Pineboom, through its operating subsidiary, Guizhou Dayun Mining Co., Ltd. (“Guizhou Dayun”), a company established under the laws of the PRC with a registered capital of RMB4,000,000 (US$585,000), owns exploration rights to Huajuejingtian North Sector Coal Mine (“Exploration Rights”), a coal mine located in Jinsha County, Guizhou Province, the PRC, which covers a total area of 16.93 square kilometers. The permit for the Exploration Rights is valid from February 1, 2008 to February 1, 2010. Read more

Hana Mining Ltd. announces that the Board of Directors has approved and adopted a Shareholder Rights Plan (the “Plan”). The Plan entitles shareholders to severable rights to purchase additional shares of the Company upon the occurrence of a take-over bid (i.e. an offer to purchase 20% or more of the issued shares, when aggregated with the offeror’s shareholdings), which fails to meet certain conditions. Bids which meet these conditions (“Permitted Bids”) do not trigger the rights to purchase additional shares. Permitted Bids are offers which meet all of the following conditions:

1. The offer is made to all shareholders and includes shares issuable upon exercise of share purchase warrants, stock options and other convertible securities;

2. The offer must contain an irrevocable and unqualified provision that no shares will be taken up or paid for prior to the close of business on a date less than 60 days following the date of the Bid, and only if at such date more than 50% of the shares held by independent shareholders have been deposited or tendered and not withdrawn;
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Professional geologist, Laurie Stephenson, President & CEO of Impala Mineral Exploration Corp. announced today that he will begin an in-depth, on-site technical review of the company’s newly acquired Busolwa Gold Property.

LAKE VICTORIA GREENSTONE BELT

The property is located in the Lake Victoria Greenstone Belt in the south-eastern part of the Geita District in Tanzania – home to AngloGold’s Geita Mine with 18 million proven ounces and Barrick’s Bulyanhulu Mine with 12 million ounces highly productive mines with 2009′s annual production running at 250,000 and 200,000 ounces of gold respectively. Greenstone belts are known worldwide as potential hosts for base and precious metals.

OBJECTIVE OF ON-SITE TECHNICAL

The purpose of Laurie Stephenson’s on-site technical review is to begin analyzing data contained in an 85 page technical report written in 2000 that is not NI43101 compliant. It is the Company’s goal to have a consulting NI43101 Qualified Person onsite with in 2 weeks to begin writing a compliant technical report on the Busolwa gold property. Mr. Stephenson will also begin planning Impala’s 2009 work program. Read more

Source:
By KRISTEN HAYS Copyright 2009 Houston Chronicle

ConocoPhillips put its exploration efforts front and center Wednesday in an apparent effort to debunk Wall Street’s view that the Houston-based oil major grows by acquisition rather than finding its own oil and gas.

That view was bolstered when ConocoPhillips slashed $34 billion in asset values late last year to bring them in line with oil and natural gas prices that plunged from lofty highs as the worst recession in decades gripped the globe. The company also is eliminating more than 1,300 jobs.

Some analysts said the write-offs exposed the potential weakness in ConocoPhillips’ prevailing growth-by-acquisition strategy.

Bernstein Research analyst Neil McMahon suggested in a recent report that ConocoPhillips consider spinning off its exploration operation. Read more

JOHANNESBURG (miningweekly.com) – ASX-listed Environmental Clean Technologies (ECT) has reached an agreement with Indonesian coal mining company Ilthabi Bara Utama (IBU) to start initial testing work on low-rank coal samples from IBU’s East Kalimantan mine for its suitability in the use of the Coldry process.

ECT said the Coldry process was the world’s first economic method for dewatering brown coal, creating a high-energy pellet with significantly reduced carbon-dioxide emissions when compared with brown coal, while being suitable for export as a black coal substitute.

ECT CEO Kos Galtos noted that following the completion of the necessary testing, a business case would be developed with a view of moving to a heads of agreement, if all tests proved successful.

“IBU can provide sufficient coal supply to meet current and future coal requirements for over ten-million ton a year Coldry production plant. The opportunity to access such a large resource in Indonesia will provide the Coldry plant with a key footprint into the South East Asian market, where there are a large number of coal-fired power stations, and consequently, a huge market for the final product.”
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