subject: Sila.ob , Bvn And Abx On Pennytobucks Radar [print this page] Gold American Mining offers a golden opportunity for shareholders.
The precious metals exploration company is committed to the aggressive ongoing acquisition and exploration of holdings with rich gold and silver production potential. The company's current holdings include the Nevada-based Keeno Strike Property and the Guadalupe Property in Mexico, located about five miles north of the Fresnillo (Proao) Mine. Gold American is currently reviewing additional gold/silver prospects of interest in Nevada, Mexico, and other regions marked by stable politics, sound economies and friendly business relations.
In May, Gold American entered into a $7.5 million equity financing agreement with a European institutional investment group that specializes in backing precious metals and mining ventures. To date, the company has received funds in the amount of $300,000 by virtue of this agreement and it still has a balance of $7.2 million that it can call upon to fund its exploration and acquisition strategy.
Keeno Strike Property (Clark County, Nevada) Located 30 miles southwest of Las Vegas, in a mining district that has produced significant quantities of both gold and silver, and which also contains deposits of copper, cobalt, nickel, zinc, and lead, the property covers 245 acres of the historic Monte Cristo mine and Keeno-mint prospect. Exploratory work will consist of testing a potential for 1.1 million ounces of gold, and 69 million ounces of silver.
The Guadalupe Property (Zacatecas State, Mexico) is Located in central Mexico, in one of Mexicos oldest mining districts, just a few miles north of the worlds richest underground sliver mines, this property contains two historic mines. The Juanicipio Joint Venture, held by MAG Silver Corporation and Fresnillo plc., is only 6.8 miles to the southwest, and has an indicated resource average grade of 879 g/t of silver, which is roughly twice the grade of Fresnillos other producing mines in the region, making the projects Valdecaas Vein one of the worlds highest grade undeveloped silver resources.
More about SILA at www.gold-american.com.
Compania de Minas Buenaventura Announces Second Quarter 2010 Results
Compania de Minas Buenaventura S.A.A. (NYSE:BVN), Perus largest publicly-traded precious metals mining company, announced recently that its results for the second quarter 2010. All figures have been prepared according to Peruvian GAAP and are stated in U.S. dollars (US$).
Production and Operating Costs
Buenaventura's equity production(1) in 2Q10 was 109,974 ounces of gold, 11% higher than the 99,322 million ounces reported in 2Q09.
Equity production(1) in the six month period 2010 was 207,744 ounces of gold and 6.4 million ounces of silver. This represented a 3% increase in gold production (202,170 ounces in 1H09).
For the full article goto http://finance.yahoo.com/q/h?s=BVN+Headlines
Barrick Reports Q2 2010 Financial and Operating Results
For a full explanation of results, the Financial Statements and Management Discussion & Analysis, and mine statistics please see the Company's website, www.barrick.com.
Highlights
Reported Q2 net income rose 59% to a record $783 million ($0.79 per share). Adjusted Q2 net income rose 76% to $759 million ($0.77 per share)(1) compared to $431 million ($0.49 per share) in Q2 2009. Operating cash flow rose 42% to $1.02 billion from $718 million in the prior year period and exceeded $2 billion in the first half of 2010.
Q2 gold production of 1.94 million ounces at total cash costs of $457 per ounce(1) or net cash costs of $358 per ounce(1), was ahead of plan on strong performance from the North and South America regions. Barrick remains on track with its original full year production guidance of 7.6-8.0 million ounces at total cash costs of $425-$455 per ounce or net cash costs of $345-$375 per ounce(2).
Lower cash costs in 2010 are expected to allow Barrick to fully capture the benefits of higher gold prices. Q2 cash margins increased 56% to $748 per ounce(1) from $479 per ounce in Q2 2009 and net cash margins increased 48% to $847 per ounce(1) from $571 per ounce in the prior year period.
For the full article goto http://finance.yahoo.com/q/h?s=ABX+Headlines
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