Lake Shore Gold announces second Gold discovery at 144
The new mineralization is located 200 metre to the southwest of the 144 Gap Zone and is defined by five holes covering 125 metre of strike length approximately 800 metre below surface and close to the elevation of the new exploration drift being developed from Thunder Creek.
Iamgold intersects high-grade Gold at Monster Lake
The target areas evaluated included the west limb of the prominent folded unit, close to where new gold showings were identified in 2014 - the south-west and north-east strike extensions of the 325-Megane zone and the MLSZ, and the Zone 52 and Eratix prospect areas.
Firestone Diamonds delays Lesotho mine launch
"Despite adverse weather, increased overburden and the larger rocks encountered at the site, the project continues to make good progress," said Stuart Brown, the CEO of Firestone.
South Africa's mining output rises 7.7% in April
The highest positive growth rate was recorded for platinum group metals (PGMs). The increase of 81.6% was partly due to the low base set in April 2014 when the sector was affected by industrial action.
Gold mining industry contributes over $171 bn to global economy in 2013: WGC
70% of the value that gold mining companies distribute within an economy relates to payments to local suppliers and employees. Interestingly, the majority of government revenues from gold mining are derived from sources, such as corporate and income tax rather than from money relating to permits and royalties.
QMX Gold posts net loss of $2.8 million in Q1 FY 2015
Company's comprehensive net loss for the quarter was $2.8 million or ($0.07) per share. Cash used by operations in Q1 2015 was $12,000 after working capital adjustments of $1.4 million. The cash cost per ounce sold during the quarter was $1,052 per ounce.