Mining Stock Updates From Pennytobuck On Thm, Abx, And Sila
Gold American Mining Corporation (OTCBB:SILA) is pleased to announce that Mr
. Juan Manuel Jimenez has agreed to join SILAs team as Technical Advisor - Mexico.
Mr. Jimenez has over eighteen years experience of progressively increasing responsibilities in mining exploration in North America. Which Allows him to bring great value to SILA, given his vast knowledge of precious and base metals exploration in the regions where SILA operates.
His career in the mining industry includes experience gained with Santa Fe Pacific Gold Corporation (acquired by $29B NYSE-listed Newmont Mining Corporation; NEM ), Homestake Mining Corporation, and Minera Teck de Mexico S.A. (subsidiary of $19.3B NYSE-listed Teck Corp.)
For more information on SILA visit http://www.gold-american.com/
Barrick Gold Corporation (NYSE:ABX) recently reported that it will redeem on October 20, 2010 all of its outstanding Placer Dome 2.75% Convertible Senior Debentures due 2023 issued by Placer Dome Inc.(Debentures). On redemption, ABX will pay to the registered holders of the Debentures a redemption price of 100.825% of the principal amount outstanding, plus accrued and unpaid interest to the Redemption Date, for a total of $1,008.56 per $1,000.00 principal amount of Debentures. The aggregate principal amount of Debentures currently outstanding is $229,170,000. Payment of the redemption price and accrued interest shall be made through normal DTC procedures.
Upon compliance with the terms and conditions of the Debentures, the Debentures may be surrendered for conversion at any time prior to 5:00 p.m. (ET) on October 19, 2010. The conversion rate in effect as of June 1, 2010 is 40.8296 common shares of Barrick ("Common Shares") per $1,000.00 principal amount of Debentures. As of 5:00 p.m. (ET) on October 19, 2010, the Debentures shall cease to be convertible into Common Shares. Barrick intends to use available funds to redeem any and all unconverted Debentures.
ABX's vision is to be the world's best gold company by finding, acquiring, developing and producing quality reserves in a safe, profitable and socially responsible manner.
Barrick Gold Corporation is the gold industry leader, with interests in 25 operating mines and a pipeline of projects located across five continents, in addition to large land positions on some of the most prolific mineral districts.
For more information on ABX visit http://www.barrick.com/
International Tower Hill Mines Ltd. (AMEX:THM) announces that the previously announced Plan of Arrangement, under which THM will spin-out its Alaska and Nevada projects (other than the Livengood Project) to Corvus Gold Inc. ("Corvus"), became effective at 12:01 a.m., August 26, 2010.
The "new" common shares of THM (CUSIP #46050R102) and the common shares of Corvus (CUSIP #221013105) will each commence trading on the Toronto Stock Exchange, effective at the opening, on Monday August 30, 2010. The symbol for "new" ITH common shares is "ITH" and the symbol for the common shares of Corvus is "KOR". Concurrently, the "old" common shares of ITH (CUSIP #46051L104) will be delisted.
Please refer to THM's press release dated August 23, 2010 and Information Circular dated July 9, 2010 for more detailed information on the Plan of Arrangement, both of which are available on SEDAR at www.sedar.com.
International Tower Hill Mines Ltd. is a resource exploration company, focused in Alaska, which controls the advanced multimillion ounce gold discovery at Livengood. ITH is committed to building shareholder value through aggressively proceeding with the ongoing development of the Livengood project.
For more information on THM visit http://www.ithmines.com
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