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Grayd Resources acquired by Agnico-Eagle Mines for $275 million

Agnico Eagle Mines (TSE:AEM) announced on Monday that it had acquired Grayd Resources (CVE:GYD) for $275 million. Grayd is a junior exploration and development company with gold and silver projects in Mexico. Agnico said the offer price of $2.80 per Grayd share represents a premium of 65.7% to the volume weighted average price of Grayd shares on the TSX Venture Exchange for the 20-day period ended September 16, 2011.

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Northern potash and coal port gets $15 million from BC government

Premier Christy Clark announced on Monday a $15-million contribution for a $90-million road rail utility corridor project, phase one of a planned $300-million development at the Port of Prince Rupert. The $90-million Road Rail Utility Corridor Project will expand Ridley Island's terminal capacity to help meet growing demand from Asia for Canada's natural resources. The project includes construction of new inbound and outbound rail lines and the extension of on-site rail and utilities. The BC government says that the investment will create over 570 direct construction jobs over the life of the project and will further provide up to 4,000 operational jobs after all construction is complete.

Gold, markets off as concerns about Greece escalate

The "very slow-moving train wreck" in Greece and Europe is taking down gold and the markets. Worries that Greece may default on its debt led to the Australian stock market, measured by the S&P/ASX 200, to close down 1.64%. The Hang Seng Index was off 2.76%. Mid-day, both the Dow Jones and S&P 500 are off 1.7%.

Newmont enhances gold price-linked dividend policy

Newmont Mining Corporation (NYSE: NEM) ("Newmont" or the "Company") today announced enhancements to its industry leading gold price-linked dividend policy, announced initially in April 2011. Under the enhanced policy, Newmont's annual dividend has the potential to increase to $4.70 per share if the Company's average realized gold price reaches $2,500 per ounce. The enhanced policy will continue to link the quarterly dividend rate to changes in the gold price but will also provide an additional step up of 7.5 cents per share when the Company's realized gold price for a quarter exceeds $1,700 per ounce and a further step up of 2.5 cents per share (10 cents in total compared to the existing policy) when the Company's realized gold price for a quarter exceeds $2,000.

Selwyn Resources Ltd.: new high-grade mineralization extends XY West to the Northwest

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 19, 2011) - Selwyn Resources Ltd. ("Selwyn") (TSX VENTURE:SWN) is pleased to provide additional information on the discovery of zinc-lead mineralization northwest of XY West deposit, as described in the August 15, 2011 news release, within an adjacent fault panel. These new drill results support the significant mineral potential of the Selwyn Project now that high-grade zinc-lead mineralization has been traced over 2,900 metres in the XY Central-XY West deposits area. This drilling was conducted by Selwyn Chihong Mining Ltd. ("SCML"), the joint venture company equally owned by Selwyn and Chihong Mining Canada Ltd. Chihong Mining Canada Ltd is a wholly owned subsidiary of Yunnan Chihong Zinc and Germanium Co. Ltd. The location of the new drill holes and lenses can be found on drill plan maps available at www.selwynresources.com.

Aurizon Mines Ltd.: two new high grade gold zones discovered at Marban

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 19, 2011) - Aurizon Mines Ltd. ("Aurizon") (TSX:ARZ)(NYSE Amex:AZK) is pleased to report the discovery of two new high grade mineralized gold zones at the Marban Block property, located in the Malartic gold camp, Abitibi region of Quebec. "These are extremely encouraging results for us," said George Paspalas, President and CEO of Aurizon. "The original premise for entering into the Marban joint venture was to test for both extensions of the current known gold mineralization in the top 300 metres, and to test for vertical extension at depth. These results confirm that premise." VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 19, 2011) - Aurizon Mines Ltd. ("Aurizon") (TSX:ARZ)(NYSE Amex:AZK) is pleased to report the discovery of two new high grade mineralized gold zones at the Marban Block property, located in t...

BHP is looking for robotics exec to dig world’s biggest open pit

Adelaide Now reports BHP Billiton wants to "future-proof" its massive Olympic Dam project, including using driverless haulage trucks and this week put out a recruitment ad for an executive to oversee the high-tech initiative. The system would mean operators can be in a control room on the site or even in the comfort of a city office hundreds of kilometres away. BHP Billiton is in the final stages of the approval process for the $30 billion expansion of its existing underground operation at Olympic Dam to create a new open pit mine that would be the worlds biggest – trucks will haul overburden 24/7 for five to six years just to reach the ore body. The combined operations would mine 72 Mt ore per year and would produce 750,000 tonnes refined copper, 19,000 tonnes uranium oxide, 800,000 gold ounces and 2.9 Moz of silver per year.