Tan Wei Ming
Copper Fox Metals Inc. said it incurred a net loss for the first quarter of $554,254 and incurred $3.29-million in expenditures toward furthering the development of the Schaft Creek project.
Yukon-Nevada Gold Corp. announced that proven and probable reserves at its 100 per cent owned Jerritt Canyon operating gold mine in Elko County, Nevada have increased to 1,060,800 ounces of gold at a grade of 0.175 ounces of gold per ton (opt) or 6.00 grams of gold per tonne (gpt).
Duluth Metals , which gained 4 per cent to year highs on Friday, announced 30 feet of 2.11 g/t total precious metals and 94 feet of 1.68 g/t higher grade platinum and palladium and gold on latest drilling at the Twin Metals Project.
Otelco Inc. announced that Time Warner Cable has indicated that it will not renew its existing contract for wholesale network connections provided by Otelco. The contract in question represented approximately 11.7 per cent of Otelco's consolidated revenue for 2011. This contract expires on Dec. 31, 2012 and includes a transition period into 2013.
Waseco Resources Inc. announced today that it has entered into an earn-in agreement with Sparton Resources Inc. whereby Waseco can earn a 75 per cent interest in the Battle Mountain Ridge Claims in Nevada. Waseco can earn its 75 per cent interest by making $75,000 (U.S.) Annual Advance Royalty payments, and by carrying out $900,000 of exploration expenditures over three years.
Ashburton Ventures Inc. announced today that it has acquired an option to earn a 100 per cent interest in ground located in Ontario's Priske Township. The Hays Lake property is made up of 2 contiguous unpatented block mining claims located in the Thunder Bay Mining Division.
Dacha Strategic Metals Inc. announced today that it has sold 2,900 kilograms of Lutetium Oxide from its inventory held in Jurong, Singapore at a price of $1,750 (U.S.) per kg for gross proceeds of $5.1-million. Based on the original purchase price of $309.60 per kg, the company realized a pre-tax gain of $4.1-million.
Belo Sun Mining Corp. announced today that it has adopted a Shareholder Rights Plan. The objective of the plan is to ensure that all shareholders are treated equally and fairly in connection with any take-over bid for the company.
NWT Uranium Corp. announced today that its board of directors has accepted the resignation of John Lynch as President and Chief Executive Officer and a director of the company. David Subotic, currently a director of the company, has been appointed interim President and Chief Executive Officer.