Bayfield Drills 16.0m of 10.47 g/t Gold and 34.68 g/t Silver on Intrepid Zone in Rainy River, NW Ontario
Bayfield Ventures Corp. (TSX VENTURE:BYV)(PINKSHEETS:BYVVF)(FRANKFURT:B4N) is pleased to announce additional assays from the continuing exploration of its 100% owned Burns Block gold-silver project located in the Rainy River District of north-western Ontario. The Company's Burns Block property is ideally situated adjacent to the east of Rainy River Resources' main multi-million ounce gold-silver deposit and to the west of their expanding Intrepid gold-silver zone.
Rainy River District Gold Zones:
Orefinders Intersects 14.50 m @ 8.10 g/t Au Including 5.90 m @ 32.5(i) g/t Au (uncut) at Mirado Gold Project, Kirkland Lake
Orefinders Resources Inc. (TSX VENTURE:ORX) reports additional high grade gold results from six more drill holes (1,866 m) from its phase II diamond drilling program at the Mirado Gold Project in Kirkland Lake, Ontario. Highlights include hole MD13-19 which intersected32.54* g/t Au (uncut) over 5.90 meters of consistent bonanza grade mineralization (see Table 1) within an interval of 14.50 meters at an average cut grade of 8.10 g/t Au. These latest results demonstrate good continuity of near surface high grade gold mineralization over broad widths in the South Zone, where recent drill results included 9.50m @ 59.2* g/t Au (Hole MD13-07) and 4.30 m @ 17.2* g/t Au (uncut) in hole MD13-06.
Cayden Resources Provides a Corporate Update
Cayden Resources Inc. (TSX VENTURE:CYD) ("Cayden" or the "Company") is pleased to provide a corporate update to its shareholders.
Cash position and sustainability
The Company currently has a strong cash position with over two years of operating capital. The current treasury including near-term receivables is approximately $15 million and Cayden is budgeting to have in excess of $9 million in the treasury in December, after the 2013 drill programs and property payments are completed.
Cayden has the unique opportunity to obtain additional non-dilutive funding with the potential future sale of its Las Calles concession. The concession represents a strip of land, located in between the operating Los Filos and El Bermejal pits that make up Goldcorp's (TSX-G) Los Filos mine.
WestJet reports record net earnings of $91 million, up 33 per cent
Airline announces it has entered into agreements to modernize its Boeing 737 fleet
WestJet (TSX: WJA) today announced its first quarter results for 2013. The airline reported record net earnings of $91.1 million, or $0.68 per diluted share, up from the net earnings of $68.3 million, or $0.49 per diluted share reported in the first quarter of 2012. These results mark WestJet's 32nd consecutive quarter of profitability. Based on the trailing twelve months, the airline achieved a return on invested capital of 14.3 per cent, up from the 13.7 per cent reported in the previous quarter.
Orefinders Intersects 8.20 m @ 10.58 g/t Au within 30.20 m @ 4.03 g/t Au at Mirado Gold Project, Kirkland Lake
Orefinders Resources Inc. (TSX VENTURE:ORX) reports additional high grade gold results from an additional six drill holes (1,589 m) from its Phase II diamond drilling program. These latest results targeted the South Zone at the Mirado Gold project near Kirkland Lake, Ontario. All six holes being reported intersected significant high-grade and broad lower-grade gold zones.
Highlights of High-grade gold zones intersected near surface and at depth, include:
Allied Nevada Announces US$150.5 Million Bought Deal Financing
Allied Nevada Gold Corp. ("Allied Nevada", "we", "us", "our" or the "Company") (TSX:ANV)(NYSE Amex:ANV)(NYSE MKT:ANV) announces that the Company has entered into an agreement with a syndicate of underwriters, led by Dundee Securities Ltd. and including Cormark Securities Inc. (collectively, the "Underwriters"), which have agreed to purchase, on a bought deal equity financing basis, 14,000,000 shares of common stock of the Company (the "Shares") at a price of US$10.75 per Share, for aggregate gross proceeds to the Company of US$150,500,000. The Underwriters will also have the option, exercisable in whole or in part at any time up to 30 days after the closing of the offering, to purchase up to an additional 2,100,000 Shares at a price of US$10.75 per share to cover over-allotments. In the event that the over-allotment option is exercised in its entirety, the aggregate gross proceeds of the offering to the Company will be US$173,075,000.
Cline Mining announces entering into recapitalization agreement
Cline Mining Corporation ("Cline" or the "Company") (TSX:CMK) announced today that it has entered into the definitive recapitalization agreement (the "Recapitalization Agreement") with Marret Asset Management Inc., as agent for the bondholders and standby purchasers party thereto. The transactions contemplated by the Recapitalization Agreement were disclosed by the Company on December 27, 2012. Pursuant to the Recapitalization Agreement, the Company has filed a preliminary short form prospectus dated April 25, 2013 (the "Preliminary Prospectus") with respect to the rights offering and issuance of warrants to its shareholders, as described in greater detail in the Preliminary Prospectus.
Bengal's Drilling Campaign Continues to Show 100% Success Rate - Now 10 for 10 at Cuisinier in the Cooper Basin
Bengal Energy Ltd. (TSX:BNG.TO) ("Bengal" or the "Company") is pleased to announce that the Cuisinier 8 well ("Cuisinier 8"), the second well in the 2013 Cuisinier appraisal drilling campaign on the Barta sub-block ("Barta sub-block") portion of Authority to Prospect ("ATP") 752P in the Cooper-Eromanga Basin, in Queensland, Australia, has been cased as a future oil producer.
The Cretaceous Murta member, DC70 sand was the primary target and the well encountered approximately 7.6 metres of net sandstone with a preliminary estimate of 6.8 metres net pay.
Fortuna reports 992,218 ounces of Ag and 4,492 ounces of Au for first quarter 2013
Fortuna Silver Mines Inc. (NYSE: FSM) | (TSX: FVI) | (BVL: FVI) | (Frankfurt: F4S.F ) today announces production figures from its two operating mines in Latin America, the San Jose mine in Mexico and the Caylloma mine in Peru. In the first quarter of 2013, the company delivered 992,218 ounces of silver, 4,492 ounces of gold, 4.6 million pounds of lead and 5.9 million pounds of zinc. Fortuna is on schedule to produce 4.4 million ounces of silver and 23,300 ounces of gold or 5.7 million Ag Eq ounces in 2013.
Africa Oil Confirms Lower Lokhone Oil Discovery in Ngamia-1 Well and Provides Operational Update
Africa Oil Corp. (TSX VENTURE:AOI)(NASDAQ OMX:AOI) ("Africa Oil" or the "Company") is pleased to provide the following operational update on its projects in East Africa.
The first of six drill stem tests at the Ngamia-1 well has been concluded. This test was in the Lower Lokhone formation where up to 43m of potential pay had previously been identified by logging and MDT sampling. The well flowed 281 barrels of 30 degree API oil per day with the assistance of a Progressive Cavity Pump (PCP). The remaining 5 tests will be conducted in the Auwerwer (formerly Upper Lokhone) sandstones which are the highest quality reservoirs penetrated in the Ngamia well and which produced very well in the recent tests at the Twiga South-1 well. Results of these remaining Ngamia tests are expected to be announced by early June.
Petrobakken Announces Q1 2013 Operations Update With Average Production of 49,100 Boepd
PetroBakken Energy Ltd. ("PetroBakken" or the "Company") (TSX:PBN) is pleased to provide an update on our first quarter operations. Note that all well counts contained in this press release are net numbers.
Consistent with our capital plan, the first quarter of 2013 was very active as we drilled 53 wells, placed 40 wells on production and exited the quarter with an inventory of 30 wells waiting to be brought on-stream. Although well activity decreased from the fourth quarter of 2012, production continued to grow and averaged 49,079 barrels of oil equivalent per day ("boepd") (82% light oil and liquids weighted) during the first quarter.
First Majestic Produces Another Quarterly Record 2.73 Million Silver Eqv. Ounces
First Majestic Silver Corp. ("First Majestic" or the "Company") (TSX:FR)(NYSE:AG)(FRANKFURT:FMV) is pleased to announce that total production at its five operating mines in Mexico for the first quarter ending March 31, 2013, reached 2,731,792 equivalent ounces of silver, representing a 36% increase compared to the same quarter in 2012.
Total silver production for the quarter consisted of 2,437,664 ounces of silver, representing an increase of 33% compared to the same quarter in 2012. In addition, 4,058,114 pounds of lead and 1,679,378 pounds of zinc were produced representing an increase of 28% and 27%, respectively, compared to the same quarter of the previous year. Also, 1,584 ounces of gold was produced, representing an increase of 159% compared to the first quarter of 2012.
Cline Mining proceeds with Marret Plan
Cline Mining Corporation ("Cline" or the "Company") (TSX:CMK) announced today that it has not received the $2.5 million deposit from Portpool Investments Ltd. by the 5:00 p.m. (EDT) deadline on April 10, 2013 pursuant to the subscription agreement with Portpool dated April 1, 2013.
Cline is currently proceeding with the alternative restructuring transaction (the "Marret Plan") that was previously negotiated with Marret Asset Management Inc., on behalf of certain funds advised by it, as first described in Cline's press release of December 27, 2012. Pursuant to the Marret Plan, Cline expects to file a preliminary prospectus with respect to a rights offering as soon as possible.
Fission Energy Corp.: 23m of High Grade Uranium Including 2m of 12.4% U3O8 at PLS's R00E Zone
FISSION ENERGY CORP. (TSX VENTURE:FIS)(OTCQX:FSSIF) ("Fission" or "the Company), and its 50% Joint Venture partner Alpha Minerals Inc., are pleased to report further assay results from twelve holes in the R00E zone on its Patterson Lake South (PLS) Property. The Company is reporting on twelve holes from the R00E zone in which results show a continuous area of broad, relatively flat lying zone of uranium mineralization at shallow depths
These results are part of the recently completed Winter Drill program at PLS. They expand upon and delineate the R00E assay results previously reported (see news release dated Dec. 05, 2012) that outline a broad zone of uranium found at shallow depth.
Timmins Gold Reports Record Production of 28,328 Gold Ounces for the First Quarter of 2013
Timmins Gold Corp. (TSX:TMM)(NYSE MKT:TGD) is pleased to report preliminary production results for the Company's first quarter ended March 31, 2013. The Company achieved record gold production of 28,328 ounces for the quarter, an increase of 31.6% over the same period last year.
Endeavour Silver Reports Record Production in First Quarter, 2013; Produces 1,489,746 oz Silver (Up 39%) and 15,032 oz Gold (Up 138%)
Endeavour Completes Annual Renegotiation of Union Contract at El Cubo; Receives 2012 Corporate Social Responsibility Awards for Mines in Mexico
Endeavour Silver Corp. (TSX:EDR)(NYSE:EXK)(FRANKFURT:EJD) announced today that the Company set new records for silver and gold production in the First Quarter, 2013 from the Company's three operating silver mines in Mexico, the Guanacevi Mine in Durango State and the Bolanitos and El Cubo Mines in Guanajuato State.
Silver production in the First Quarter, 2013 was up 39% to 1,489,746 ounces (oz) and gold production was up 138% to 15,032 oz compared to the First Quarter, 2012.
First Point Minerals Receives Positive Preliminary Economic Assessment for Decar Nickel Project in Central British Columbia
First Point Minerals Corp. (TSX:FPX) ("First Point" or the "Company") is pleased to announce the positive results of a NI 43-101 compliant Preliminary Economic Assessment ("PEA") for the Decar nickel-iron alloy project ("the Project") in central British Columbia, demonstrating the economic potential of the project. The PEA study was prepared by Tetra Tech on behalf of Cliffs Natural Resources Exploration Canada Inc., an affiliate of Cliffs Natural Resources Inc. (NYSE:CLF)(Paris:CLF) ("Cliffs").
First Quantum Minerals Announces Creation of a New Global Leader in Copper
85.5% of Inmet Shares Tendered
First Quantum Minerals Ltd. ("First Quantum" or the "Company") (TSX:FM)(LSE:FQM) and its wholly-owned subsidiary FQM (Akubra) Inc. (together, the "Offeror") today announced that, as at 11:59 p.m. (Eastern Daylight Time) on March 21, 2013, a total of 60,120,405 common shares of Inmet Mining Corporation ("Inmet", TSX Symbol "IMN"), representing 85.5% of the outstanding Inmet shares (on a fully diluted basis), had been validly tendered to the Offeror's offer (the "Offer") to acquire all of the outstanding shares of Inmet. The Offeror has taken up and accepted for payment all such shares and will pay for such shares on or before March 27, 2013.
NOCAL Approves Revised Production Sharing Contract for Block LB-13 Offshore Liberia; Canadian Overseas Petroleum Revises Agreements with Peppercoast Petroleum and ExxonMobil NOCAL Approves Revised Production Sharing Contract for Block LB-13 Offshore Liberia; Canadian Overseas Petroleum Revises Agreements with Peppercoast Petroleum and ExxonMobil
Canadian Overseas Petroleum Limited ("COPL" or "the Company") (TSX-V: XOP), and its wholly owned subsidiary, Canadian Overseas Petroleum Bermuda Limited ("COPL Bermuda"), is pleased to announce that a Restated and Amended Production Sharing Contract ("PSC") for Block LB-13 offshore Liberia has been agreed with ExxonMobil Exploration and Production Liberia Limited ("ExxonMobil") and the National Oil Company of Liberia ("NOCAL").
First Majestic Announces Financial Results for Q4 and Year End 2012
FIRST MAJESTIC SILVER CORP. (TSX:FR)(NYSE:AG)(FRANKFURT:FMV) (the "Company" or "First Majestic") is pleased to announce the audited consolidated financial results for the Company's fourth quarter and year ending December 31, 2012. The full version of the financial statements and the management discussion and analysis can be viewed on the Company's web site at www.firstmajestic.com, on SEDAR at www.sedar.com and EDGAR at www.sec.gov.
2012 HIGHLIGHTSCash Flow of $1.35 per share (non-GAAP) Adjusted Earnings per Share (non-GAAP) of $0.26 for the fourth quarter and $1.05 for the full year