Mining Week: 12 March
12 March 2010
The latest news, moves, deals, drilling, surveys and speculation from small cap miners
 This week, AfNat Resources (AFNR) said it was in line to receive around US$4.1 million in dividend payments from its only listed mining stock, Niger Uranium Ltd. It said the new funds had been earmarked to boost its cash balance and could be used for further investments.
African Eagle Resources (AFE) hired Dr Chad Czerny as project manager (metallurgy) for its Dutwa oxide nickel project in Tanzania.
Allied Gold (AGLD) reported that it was sitting on a total inventory of 7.8 million ounces of gold between its projects in Papua New Guinea and the Solomon Islands.
Baobab Resources (BAO), the iron ore, base and precious metals explorer with a portfolio of mineral projects in Mozambique, said that drilling was back underway at its Tete iron/vanadium/titanium project.
Chaarat (CGH), the gold group operating in the Kyrgyz Republic, announced a revised estimate of the gold resources at its 100% owned Chaarat deposit of 4.009 million ounces, based on results from the 2009 exploration season.
West African-focused gold miner Cluff Gold (CLF) announced plans to carry out new drilling work in Burkina Faso and Cote d'Ivoire in order to extend the life of its main projects.
Coal of Africa (CZA) was given the green light by South African authorities to carry out bulk sample testing at it Makhado coking coal project.
Discovery Metals (DME) signed a long term strategic alliance with Transamine, a Swiss based non-ferrous raw materials trading company in a deal that includes an initial five-year off-take contract for its Boseto Copper Project in north-west Botswana. Separately, Discovery published the results from the latest 26 diamond drill holes at the Plutus, Petra and Nexus Prospects at Boseto.
Australian-based uranium mine development and exploration company, Extract Resources, today said that its Rössing South Definitive Feasibility Study was continuing to progress well and was on track to confirm the project’s potential to be one of the world’s largest uranium mines.
Firestone Diamonds (FDI) was selected by Namdeb Diamond Corp as the preferred supplier and operator for the Dredge and Floating Treatment Plant (FTP) project at Namdeb's diamond mining operations on the south west coast of Namibia. Namdeb is a joint venture between the Namibian Government and De Beers and is the world's 6th largest diamond producer by value.
Herencia Resources (HER) reported that the first two holes drilled in the current diamond drill programme at its flagship Paguanta zinc-lead-silver-gold project in northern Chile had intersected visible mineralisation, including massive sulphides.
Canadian company Landore Resources (LND) reported that ongoing drilling work on its newly-discovered Lamaune gold prospect was continuing to uncover encouraging results.
Plus-quoted mining outfit Marshall Lake Mining and its TSX-V-listed joint venture partner Rainy Mountain Royalty Corporation agreed to sell a majority stake in their Marshall Lake project to White Tiger Mining Corp.
Diamond production group Pangea DiamondFields (PDF) sold its Dimbi Diamonds division to a management buy-out team in return for a 5% royalty on future gross sales and US$0.5 million in cash.
Underground mining operations restarted at Platinum Australia’s (PLAA) Smokey Hills Mine on March 8 following a week of disruption caused by industrial action by contract mine workers.
Tertiary Minerals (TYM) applied for a new exploration licence for fluorspar some 50km north-north west of its existing Storuman project in Sweden. The company said it was also working on additional fluorspar acquisitions, some of which are understood to be at an advanced stage.
Coal producer UK Coal (UKC) rebuffed press speculation that it had received a cash offer but did say it was in early talks over a possible merger involving its deep mines business.
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