ShaMaran Petroleum Corp. (SNM-X), which nearly hit a year low of 16 cents yesterday, announced today that drilling of the Taza-1 well, located in the Taza PSC in the Kurdistan Region of Iraq, commenced on July 3, 2012. “We are very pleased with the progress made on both projects,” said chief executive officer Pradeep Kabra. “Particularly spudding the Taza exploration well which is targeting a prospect with significant potential.”
Kirkland Lake Gold Inc. (KGI-T), which closed at $11.47, said yesterday that net income for the fourth quarter of fiscal year 2012 came in at $9.0-million ($0.13 per share). Production for the quarter was 27,496 ounces at a recovered grade of 0.34 ounces of gold per ton. In the same period last year, net income was $4.1-million ($0.06 per share).
MacDonald Mines Exploration Ltd. (BMK-X), which was last trading at $0.105, announced today that it has signed a mining claims acquisition agreement to acquire additional claims in the James Bay Lowlands – Ring of Fire area. In order to acquire the property, the company will issue 40,000 common shares and 20,000 common share purchase warrants.
Patagonia Gold Plc (PAT-T), which is trading at year lows, announced updated drill results on its Cap-Oeste South East (COSE) project in Santa Cruz province, Argentina.
Workers at Excellon Resources Inc’s (EXN-T) La Platosa Mine in Durango, Mexico, are reportedly slated to vote today to select a union to represent them and administer a collective bargaining agreement with Excellon subsidiary Servicios Mineros San Pedro S.A. de C.V.
Australia-listed Galaxy Resources Limited, following the successful merger with Lithium One Inc (LI-X), detailed its global lithium resource base and assets in four continents world wide.
Feronia Inc. (FRN-X), which is trading near year lows, announced that it has filed on SEDAR amended and restated interim financial statements and management’s discussion and analysis for the first three quarters of 2011.
Bison Gold Resources Inc.’s (BGE-X) former director, chief financial officer and vice president of corporate development Amir Mousavi, has filed a court application in a bid to confirm the election of a “dissident slate of directors.” Bison’s stock gained more than 50 per cent yesterday, climbing from near year lows.
Benton Resources Corp. (BTC-X) hit year lows yesterday, closing lower despite announcing that it has intersected high grade silver along with its previously announced gold intercepts on the Elizabeth Anne gold project.
Atlanta Gold Inc. (ATG-X), which is trading at year lows, announced that 145 tons of bulk sample material from surface trenches at the Atlanta project, across the Main Shear Zone immediately east of the Monarch Shaft, have been delivered to and stockpiled at test processing facilities in Boise, Idaho. Test processing and sample results are expected in the third quarter of 2012.