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News Breaks
August 12, 2014
08:02 EDTMDW, ABXMidway Gold increases FY14 Spring Valley project budget
Midway Gold (MDW) announces substantial resource growth at its Spring Valley project, located in Pershing County, Nevada. The company has updated the mineral resource estimate to include the 2011-2013 drill results. Midway’s independent consulting engineers, Gustavson Associates, have determined that this drilling has resulted in a 102% increase in Measured & Indicated ounces to 4.37M ounces, as well as a 20% increase in the M&I gold grade. In addition, the drilling has resulted in an inferred resource now totaling 1.07M ounces. Midway also announces its decision to become a 25% joint venture partner, to be carried to production by Barrick (ABX) free of any additional payments or capital outlays. The company said, "The accelerated progress on the project continues to give us confidence that Spring Valley has the potential to be a world-class gold mine in the near future. The three drill rigs on site continue to be focused on in-fill drilling and will likely have an even greater future impact on ounce quality as we move forward to completion of a pre-feasibility study in the fall of FY15. The $9M drilling program and the $8.4M commitment currently being spent on all of the various engineering and permitting activities speaks to the merits of the project."
News For MDW;ABX From The Last 14 Days
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October 15, 2014
08:32 EDTMDWMidway Gold names William Zisch as president and CEO
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October 12, 2014
14:07 EDTABXZambia to increase royalties on open-pit mines, WSJ says
The Finance Ministry of Zambia said it plans to more than triple royalties on open-pit copper mines, says the Wall Street Journal. Mining companies with open-pit mines in Zambia include Canada’s Barrick Gold (ABX) and First Quantum Minerals, added the Wall Street Journal. Reference Link

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