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CP: Sutter Gold to proceed with California project after positive assessment

MINING.com Editor | June 23, 2011
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Sutter Gold Mining Inc. (TSXV:SGM) said Wednesday it will go ahead with mine and mill construction at the company's Lincoln gold project in California, according to a report by Canadian Press:

The decision follows completion of an independent preliminary economic assessment that indicated "positive economics" for the project near Sutter Creek, Calif., using a base gold price of US$1,100 an ounce.

The project will be financed through a $20 million prepaid gold facility from RMB Australia Holdings. Sutter has agreed to deliver a total of 53,027 ounces to RMB, at a price of approximately $950/oz.

  • Emgold moves forward with Idaho-Maryland project permitting

    Marketwire | April 12, 2011
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    Emgold Mining provides the following update on its Idaho-Maryland Project ("Project"), located in Grass Valley, California. In follow up to the Company's March 7, 2011 press release, Emgold, through its 100 percent owned subsidiary Idaho-Maryland Mining Corporation ("IMMC"), has commenced the filing process for its 2011 Revised Permit Application with the City of Grass Valley ("City"). The City is the Lead Agency and responsible for completing the Environmental Impact Report ("EIR") for the Idaho-Maryland Project, as part of the California Environmental Quality Act ("CEQA") process.

  • Molycorp up 10 percent after congressman introduces rare earth legislation

    Michael Allan McCrae | April 7, 2011
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    U.S. Rep. Mike Coffman's rare earth legislation may have lit a fire under Molycorp's stock price, which rose 10.3% on Thursday trading.

    Coffman, Republican congressman representing Colarado, introduced legislation on Wednesday calling for a variety of measures that would better ensure that the United States has secure access to rare earth metals.

    Molycorp stock finished Thursday at $68.45. The stock's 52-week range is $12.10 to $68.79.

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