Graphite – Lomiko Metals Inc. (TSXV:LMR) received a final receipt for its short form prospectus in each of the provinces of British Columbia, Alberta and Ontario. The Prospectus qualifies the distribution of (i) a minimum of 6,818,182 units (the "Units") and a maximum of 27,272,727 Units of the Company at a price of $0.11 per Unit, and (ii) a maximum of 7,692,308 flow-through units of the Company at a price of $0.13 per Flow-Through Unit, for minimum total gross proceeds of $750,000 and maximum total gross proceeds of $4,000,000.
Resource Company News Directory
Platinum – Bloomberg reported that South African President Jacob Zuma has said the nation will not take sides in the feud between the Association of Mineworkers and Construction Union (AMCU) and major miners Lonmin plc (LSE:LMI), Impala Platinum Holdings Ltd. (OTCMKTS:IMPUY) and Anglo American Platinum Ltd. (OTCMKTS:AGPPY).
Oil – Mining Weekly reported yesterday that Canada's US Oil Sands Inc. (TSXV:USO) is using an environmentally friendly, citrus-based technology to design and build the United States' first commercial oil sands project.
Gold – Mining Weekly reported yesterday that Sibanye Gold Ltd. (NYSE:SBGL) has not experienced any production losses since South Africa's Eskom requested that the company reduce its power consumption by 10 percent.
Diamond – Kennady Diamonds Inc. (TSXV:KDI) yesterday released an update on its Northwest Territories-based Kennady North diamond project, commenting that infill drilling at the Kelvin kimberlite began on schedule last week; to date, three drill holes have been completed.
Manganese – Mining Weekly reported that Delta EMD Ltd. (JSE:DTA), an electrolytic manganese dioxide (EMD) manufacturer that supplies the alkaline battery industry, will "discontinue its operations and sell its assets," subject to shareholder approval.
Vanadium – American Vanadium Corp. (TSXV:AVC,OTCQX:AVCVF) closed the first tranche of its previously announced non-brokered private placement. The Company issued a total of 10,000,000 units at the price of CDN$0.40 per unit to Dundee Corporation for total gross proceeds of CDN$4,000,000.
Uranium – Bloomberg Businessweek reported this week that enriched uranium producer USEC has filed for bankruptcy protection with a plan to cede control to noteholders. The company states that an oversupply of uranium negatively impacted its business.
Silver – Great Panther Silver Ltd. (TSX:GPR,NYSEMKT:GPL) yesterday put out a statement regarding recent "speculative reports about violent incidents" at its Mexico-based Guanajuato Mine Complex.
Potash – Reuters reported that Chilean fertilizer group SQM's profits were down 51 percent in the final quarter of 2013. The company is looking at falling world prices for potassium chloride and iodine as the cause of its negative performance.