Vancouver-based junior stock up 6.5% after step out drilling confirms potential for significant resource expansion at its Karma project.
Later the fleet will be augmented with a second primary excavator and eight additional trucks.
The reservoir will provide sufficient water for the Vancouver-based junior company’s construction and operational needs, as well as for local communities in Burkina Faso.
Stock is up 6% on Tuesday after regional drilling returns 226.8gpt gold over 3.1m including 442gpt over 1.6 metres.
Toronto junior is up 46% this year and feasibility for Yaramoko improves on what was already one of the lowest cost and highest grade projects anywhere in the world.
But it expects to return to profitability by the end of the current fiscal year.
TrueGold Mining adds to 30% gains since early December on Monday after environmental permit for Burkina Faso gold project is granted.
Eight of the 12 fastest-growing economies in Africa in recent years did not rely on natural resources.
Other notable good performers in the 2013 Corruption Risk Index are Senegal and Botswana.
Vancouver-based junior miner discusses exploration and mining in the west African nation.
Vancouver-based Riverstone Resources signed Thursday a deal to acquire Blue Gold Mining, in an all-share deal valued at $30.3 million, which will allow the new company to strengthen its exploration and near-term production activities at properties in West Africa.
Many children and teenagers skip school to work at the gold mines where they can earn $14 during a six-day week workweek.
The West African nation of Burkina Faso is forecasting its gold industry will boost growth next year, but the latest report from UK-based think-tank Exclusive Analysis, warns of increasing risks of kidnap and collateral harm by Islamist groups spreading from northern Mali.
But South Africa's output continues to fall says the Economics Group’s.
The company highlights an after-tax NPV $192 million and IRR 37%.
The Montreal-based company, down 21% following a dive of 17% on Wednesday, were deemed by investors to have overpromised and underdelivered on its exploration results.
Volta puts the details to its five million ounce Kiaka gold project in a prefeasibility study it released on Thursday.
Goldrush Resources Ltd. (TSX VENTURE:GOD)(OTCQX:GDRRF) ("Goldrush" or the "Company") is pleased to announce the results of a shallow Rotary Air Blast ("RAB") drilling program on the Company's Pompoi permit which is contiguous with and to the east of Roxgold Inc.'s ("Roxgold") Yaramoko permit.
Endeavour Mining Corporation ("Endeavour" or the "Corporation") (TSX:EDV, ASX:EVR) is pleased to announce it met 2011 production targets with Q4 gold production of 24,010 ounces from its Nzema operations in Ghana and 21,586 ounces from its Youga operations in Burkina Faso. Total annual production for 2011 was 177,290 ounces of gold at a cash cost per ounce of $614 (excluding royalties), comprised of 90,026 ounces from Nzema and 87,264 ounces from Youga
Volta Resources (TSE:VTR) Monday announced drill results from nine holes as part of its on-going phase 3 program at its flagship Kiaka gold project in Burkina Faso.
Active Australian gold explorer, Gryphon, today announced significant new drilling results at its Samavogo prospect. Gryphon Minerals Ltd (ASX: GRY indicated today that the latest drilling could enhance the already-established JORC Code inferred resource
Shares of Randgold Resources, a pure-play gold mining company focused on west and central Africa, soared 7.4% Wednesday after announcing third quarter production increased 80% and sales jumped to $309.6 million from only $116.3 a year ago.
Despite a once-off drop in gold sales from the previous quarter following instability at its Tongon mine in the Ivory Coast where it has been producing for one year and what it described as once in a century rainfall at its Loulo/Gounkoto operations in Mali, third-quarter income increased more than four-fold to $106.8 million.
Sarama Resources Ltd. are pleased to announce the completion of our initial public offering ("Offering") and the issuance of a total of 18,538,711 Units (which includes the partial exercise of the over-allotment option of 1,872,045 Units) at$0.90 per Unit, raising gross proceeds of $16,684,840.
We will use the net proceeds of the Offering principally to advance our exploration activities at the South Houndé Project where extensive drill programs are planned and our other prospects in Liberia and Mali where significant exploration programs are already underway.
Concordia Resource Corp. (TSX VENTURE:CCN) ("Concordia") is pleased to announce that, further to its news release dated September 6, 2011, it has signed an arrangement agreement (the "Agreement") with Swala Resources Inc. ("Swala"), dated October 20, 2011. Under the Agreement Concordia has agreed to acquire all of the issued and outstanding Swala securities pursuant to a plan of arrangement. Swala brings to Concordia an extensive exploration portfolio in the resource endowed regions of Burkina Faso, Gabon, the Democratic Republic of Congo (the "DRC"), Zimbabwe and Mozambique with a land package totaling over 12,400 km2, as well as an experienced management team and board of directors with extensive expertise in Africa. Completion of the plan of arrangement transaction is expected by December 2011.
Semafo Inc's third-quarter revenue jumped 19 percent, helped by higher gold output at its Mana mine in Burkina Faso, west Africa.
SYDNEY (Reuters) – A new zinc mine in west Africa is due to start up in mid-2012, just as some of the world's largest deposits are winding down, creating the first window in years for new suppliers in a chronically over-supplied market. The Glencore
Get Mining News and Alerts
sent to your inbox daily