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

Adventure Gold Inc. a mining exploration company with strategic properties in the Val d’Or region of Quebec, is pleased to announce the closing on October 30th of a non-brokered flow-through private placement with the MineralFields Group for gross proceeds of $550,000 (the “Offering”). The Offering consisted of the issuance of 3,928,570 units at a price of $0.14 per unit (the “Units”). Each unit is comprised of one flow-through common share and one-half of a non-flow-through warrant. Each whole warrant entitles the subscriber to purchase an additional common share at an exercise price of $0.25 for a period of twenty-four months. The hold period on the shares is four months. The funds will be used to further conduct exploration work on our Quebec and Ontario mining properties.
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(CNN Money) — Gemini Explorations, Inc. (“Gemini”) (OTCBB: GXPI) announced today that test results of new samples taken from Gemini’s La Tapata Gold Mine are to be made public within the next few days. These samples were tested by Diazem Corporation, which has developed a proprietary, cost-effective method for capturing a uniquely high percentage of precious metals (gold/silver) and other economic minerals from the containing ore body. The Diazem process provides an enhanced economical separation and capture of both precious and other metals of value, resulting in an improvement in overall efficiency and profitability. In addition to being efficient, effective and economical, the Diazem process is also exceptionally friendly to the environment. More information about Diazem and their separation technology is available on their company website at: www.diazem.com/mining.html.

The reporting of the results of the testing of these samples, and the significance of those results to Gemini’s approach to the upgrading and operational redevelopment of La Tapata will constitute the first of many progressive events enabled by the recently announced $600,000 financing commitment. These sample results will help establish the specific details of the Read more

The Gold and oil prices forge historic heights, gold prices topped $1,000 for the first time and oil futures rocketed to a record high $111; dollar plunged to all-time lows against the euro

Gold prices topped $1,000 for the first time and oil futures rocketed to a record high $111 this week as the dollar plunged to all-time lows against the euro.

Investors dived into commodities as they sought a haven amid fears of a US recession and global economic slowdown. Investment in gold and oil is also seen as a hedge against future rises in inflation. Since the commodities are priced in dollars, a tumbling greenback makes gold and oil cheaper for buyers using stronger currencies, encouraging demand. The euro struck a record-high $1.5688 Friday after US investment giant Bear Stearns announced it was being baled out because of liquidity problems and following weak US consumer confidence data, traders said.
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Franco-Nevada, the Canadian gold and energy royalty company sold to Newmont Mining Corp. in 2002, is set to rise again with an initial public offering aiming to raise more than $1-billion – by far the largest debut on the Toronto Stock Exchange this year.

Hoping to attract the millions of mining investment dollars that have come available with the recent loss of major industry names including Alcan Inc., LionOre Mining International Ltd. and Meridian Gold, the new company will hold royalty interests in approximately 190 precious and base metals properties, providing it with a steady stream of revenue from various projects.

The IPO will mark the return to the Canadian capital markets of a resource portfolio created by industry legends Pierre Lassonde and Seymour Schulich. Franco-Nevada Mining Corp. was sold to the U.S. gold giant as part of a $4.2-billion (U.S.) blockbuster three-way merger in 2002. Newmont announced plans to sell the assets in July as part of major restructuring under new management. Read more

Speaking at the Valedictory function of ‘Stona 2008′, organised by All India Granite and Stone Association, Subbaramai Reddy, Union Minister of States for Mines said to face stiff competition in the global market,the stone industry needs to adopt scientific and cost-effective mining and quarrying practices apart from investing in skill upgradation. If Indian stone sector had to compete with the world market it needed to adopt latest technology to cut down production cost and improve quality.

Though India was the largest producer of stones in the world market accounting for about 27 per cent production and a leading exporter, ranking third in terms of tonnage, the open cast method mining adopted was very old, slow and uneconomical and it should adopt advanced technology, he said. Read more

Union Minister of State for Mining T Subbarami Reddy said With the ‘New Mining Policy’ multinational mining majors like De Beers, Anglo American and Indo Gold will take up gold and diamond mining in India.

Speaking on the sidelines of the valedictory of the All India Granite and Stone Association’s ‘Stona-2008′ exposition, he said the New Mining Policy would attract world majors in mining.

”Top foreign gold and diamond companies have evinced interest in taking up gold and diamond mining in the country. Karnataka has 70 per cent of the gold deposits, but very little is being exploited. The state also has rich deposits of diamond. It needs to be made use of. I want India to become self sufficient in gold production in the next ten years,” he said. Read more