subject: Mineing Stock Updates From Pennytobuck.com On Nem, Gg, Sila [print this page] 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/
GOLDCORP INC. (NYSE:GG) announced today that the Los Filos mine in Mexico has become fully certified under the International Cyanide Management Code for the Manufacture, Transport and Use of Cyanide in the Production of Gold ("the Cyanide Code"). Los Filos is Goldcorp's fifth gold mine to receive full certification. The Marigold mine in Nevada was the first gold mine in the world to be fully certified under the Cyanide Code, followed by El Sauzal mine (the first in Mexico), Marlin mine (first in Central America) and Musselwhite mine (the first in Canada).
The Cyanide Code is a voluntary industry program for companies involved in the production of gold using cyanide. It was developed under the auspices of the United Nations Environment Program with the goal of safeguarding human health and the environment by promoting responsible management of cyanide used in gold mining.
GG is North America's fastest growing senior gold producer. Its low-cost gold production is located in safe jurisdictions in the Americas and remains 100% unhedged.
For more information on GG visit http://www.goldcorp.com
Newmont Mining Corporation (NYSE:NEM) released information correcting a number of inaccurate claims by PT Pukuafu Indah ("PTPI"), an Indonesian shareholder in PT Newmont Nusa Tenggara ("PTNNT"). PTNNT owns and operates the Batu Hijau gold and copper mine on the island of Sumbawa.
Recently, PTPI issued public statements claiming the right to acquire previously divested shares in PTNNT. NEM's and Sumitomo Corporation's subsidiaries (the "Subsidiaries") divested these shares to another Indonesian company as required under PTNNT's Contract of Work with the Indonesian Government and in accordance with a 2009 ruling of an international arbitration panel.
At all times relevant to fulfilling the divestiture obligations, PTPI did not, and presently does not, have any right of first refusal to acquire the divestiture shares. Furthermore, in fulfilling its divestiture requirements, Newmont did not breach any obligations to PTPI. Certain of PTPI's public assertions including that PTPI paid Newmont for some or all of the divestiture shares are patently false as Newmont did not receive any such payments. If it had, the Company would have been required to disclose the payments.
To date, a 24% interest in PTNNT has been sold by the Subsidiaries, at the direction of the Indonesian Government through exercise of its priority purchase rights, to PT Multi Daerah Bersaing, an entity indirectly owned by PT Bumi Resources and the local governments in the region where the Batu Hijau mine is located. The divestment of the final 7% stake in PTNNT is in progress.
For more information on NEM visit http://www.newmont.com/
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