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Thursday, December 29, 2011

Zimbabwe says no immediate raw platinum export ban

Zimbabwe is considering a ban on raw platinum exports in a bid to force miners to set up refineries in the country, but this move will not take place "overnight", a government official said on Wednesday.

The southern African country has the second largest known platinum reserves in the world, after neighboring South Africa, and the top two global producers, Anglo American Platinum and Impala Platinum, have operations there.

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Wednesday, December 28, 2011

New Guinea Gold Corporation: Mt Sinivit Mine-Interruption to Mining and Processing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 28, 2011) - New Guinea Gold Corporation (TSX VENTURE:NGG)(FRANKFURT:NG8) ("NGG" or the "Company") announces that mining and processing at its Mt Sinivit operation has temporarily been halted. Representatives of the Wild Dog Mining Area Landowner Association (WDMALA) and Lulai Nakama Association (the "Landowners") have occupied the mine-site and thus forced its temporary closure. All staff have been stood down safely and police presence is being maintained on site.

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Tuesday, December 27, 2011

Monday, December 26, 2011

Friday, December 23, 2011

Chieftain Metals signs purchase agreement with Royal Gold

Dec 22 (Reuters) - Canadian junior miner Chieftain
Metals Inc said U.S. mining royalty company Royal Gold
Inc will pay it up to $60 million for rights
to buy a portion of gold and silver to be produced from its mine
in British Columbia.

Thursday, December 22, 2011

Why We Remain Bullish on Small Mining Shares

HOUSTON -- Sometimes a thought can be distilled into a single chart.  That is exactly what we shall do in this very short holiday offering.  The year 2011 was not all that kind to the smaller, less liquid and more speculative junior miners and explorers. Indeed as shown in the chart just below, by many measures the companies we affectionately call “The Little Guys” have had little to be joyous about.
That, of course, is definitely a reason for Vulture Speculators (like us here at Got Gold Report) to be filled with jollity.  No, not because the shares we already own have fallen along with the mighty (and in many cases they have fallen mightier than the mighty).   What stokes our holiday fires in this 2011 Christmas season is that we are able to acquire meaningful positions in so many of the Resource Company Guru-chosen issues we track at super-sale, ultra-low-priced bargain prices.  Prices that only a Vulture would love.

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Tuesday, December 20, 2011

10 Biggest Silver Producing Mines in the World

Here is a list of the 10 biggest silver-producing mines in the world, based on available data. There are differences of opinion about some of the rankings and some of the production figures. Such differences of opinion stem from how miners report production (some report pure silver production while others report silver equivalent production), whether production is reported by individual mines or as an aggregate of mines within the same geological complex, among other reasons. The ranking and the annual production figures provided here is based on data provided by Intierra Resource Intelligence. For the purposes of this slide show, all mines are labeled "silver mines." However, some of these 10 mines may also produce copper or gold or other metals and may be more commonly recognized as copper mines or gold mines.

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Silvercorp Metals Inc.: Chinese Law Enforcement Agents Open Criminal Case to Investigate Creators of Falsified Reports

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 20, 2011) - Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX:SVM)(NYSE:SVM) has been advised that Chinese law enforcement agents have opened a criminal case to investigate and find the creators of false and fraudulent reports by anonymous parties such as IFRA, Alfred Little and others, attacking Silvercorp and its Chinese subsidiaries.

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Monday, December 19, 2011

South American Silver’s stock is up 17% after announcing four billion pound copper resource

South American Silver (TSE:SAC) stock shot up 17% in morning trading today on the Toronto Stock Exchange to $1.62 a share after the company announced the findings from its NI 43-101-qualified resource estimate of the company’s Escalones copper-gold-silver project in central Chile.

The project’s inferred resource is 420 million tonnes of mineralized material containing 3.8 billion lbs of copper, 56.9 million lbs of molybdenum, 610,000 ozs of gold and 16.8 million ozs of silver using a 0.2% Cu Equivalent cut-off grade which represents approximately a $2.50/lb copper price.

“This is a copper-equivalent(1) content of 4.5 billion lbs of copper grading 0.49% based on approximate 3-year average metal prices of $3.00/lb copper, $1,200/oz gold, $22/oz silver and $16/lb molybdenum,” stated the company in a news release.

“The deposit remains open to expansion laterally and down dip with 90% of this first resource hosted in copper, gold and silver replacement-style mineralization, and one drill hole testing porphyry-style mineralization.”

South American Silver is a mineral exploration company with a silver-indium-gallium project in Bolivia, as well as the Escalones copper-gold project in Chile.

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Interview with CEO of Endeavour Silver Corp

TWST: Let's begin with a brief overview of Endeavour Silver Corp. Mr. Cooke: Endeavour Silver (EXK) is a company founded in 2002, and when we went looking for strategic silver assets in Mexico in 2003, it was basically two guys with an idea, about $300,000 in working capital and $0.10 stock - the company had no assets at that time. Eight years later, today, we have growing concerns, obviously: a company with two large and growing silver-mining operations in Mexico, over 850 employees, 400 contractors, working capital is north of $150 million and a stock price of $10, $11, with a market cap hovering around $1 billion. So clearly, whatever we are doing seems to be working and it's been very accretive over the years for our stockholders. And we are just looking to do more of what we've already done in order to continue the growth profile of the company.

Full Interview Here>>

Eldorado to Acquire European Goldfields and Create the Leading Growth Oriented Intermediate Gold Producer

VANCOUVER, BC – Eldorado Gold Corporation (TSX: ELD, NYSE: EGO, ASX: EAU) today announced that it has entered into a definitive agreement with European Goldfields Limited (TSX: EGU, AIM: EGU)
pursuant to which Eldorado has agreed to acquire all of the issued and outstanding common shares of
European Goldfields by way of a plan of arrangement under the Yukon Business Corporations Act.  European Goldfields is a precious metals development company with attributable gold reserves of 9.2 million ounces and multi-stage assets located in Greece, Romania and Turkey. The company currently operates the Stratoni mine in Greece and is developing the Skouries and Olympias projects in Greece and the Certej project in Romania. European Goldfields is also partnered with Aktor SA, the largest construction company in Greece.

Under the Arrangement, shareholders of European Goldfields will receive 0.85 Eldorado shares and
C$0.0001 in cash per European Goldfields share (the “Exchange Ratio”). Each outstanding option of
European Goldfields shall be exchanged for options of Eldorado that will entitle the holder to receive,
upon the exercise thereof, Eldorado shares based upon the Exchange Ratio and otherwise on the same
terms and conditions as in the original European Goldfields option. The total transaction value is
approximately C$2.5 billion.

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Friday, December 16, 2011

Sandstorm Gold Announces That Rambler's Ming Mine is Now in Production

Sandstorm Gold led by former CFO of Silver Wheaton, Nolan Watson, continues to increase shareholders earnings per share with this being the latest mine coming into production. Sandstorm Gold is a gold metal streaming business operated much to the same way as Silver Wheaton. For more information on Sandstorm Gold check out this article on seeking alpha
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 15, 2011) - Sandstorm Gold Ltd. ("Sandstorm" or the "Company") (TSX VENTURE:SSL) announces that Rambler Metals and Mining plc (TSX VENTURE:RAB)(AIM:RMM) ('Rambler') is now mining and processing ore from its flagship project, the Ming Copper-Gold Mine (the "Ming Mine"), located on Newfoundland and Labrador's Baie Verte Peninsula, Canada. In accordance with Sandstorm's gold purchase agreement with Rambler, Sandstorm is entitled to receive 25%-32% (depending on the metallurgical recovery rate of gold) of the first 175,000 ounces of payable gold, and 12% of the payable gold produced thereafter from the Ming Mine. There is no ongoing cost per ounce for the gold delivered from the Ming Mine.
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