Mining Briefing: Consulting, Exploration & Mining Companies in the news - CD International Enterprises, Allied Nevada, Alcoa, Newmont Mining, Armco Metals
CORAL SPRINGS, Florida, October 8, 2013 /PRNewswire/ --
Market news updates for today's active exploration / services / mining companies: CD International Enterprises, Inc. (OTCQB: CDII), Allied Nevada Gold Corp. (NYSE: ANV), Alcoa (NYSE: AA), Newmont Mining Corporation (NYSE: NEM) and Armco Metals Holdings, Inc. (NYSE: AMCO).
CD International Enterprises, Inc. (OTCQB: CDII) Headline: Minera MAPSA Completes Transfer of 178,000 Acres of Mining Concessions in Peru to CD International Enterprises Subsidiary. Initial geological studies indicate potential for large deposits of iron ore. CD International Enterprises, a U.S. based company that produces, sources, and distributes industrial commodities in China and the Americas and provides business and financial corporate consulting services, today announced that Minera MAPSA S.A. ("MAPSA"), a Peruvian mining and exploration company, has completed the formal transfer of title of all mining concessions for 178,000 acres of mining properties in southern Peru to CDII Minerales Peru SAC. ("CDII Peru"). With the completion of this transfer CD International's wholly owned subsidiary CDII Minerals and MAPSA each now own a 50% interest in CDII Peru. The property is divided into three project sites with the largest being the SAMA site, spanning approximately 128,000 acres..
To read the entire press release, please go to http://www.fnmprofiles.com/profiles-cdii.html
Beginning in April 2013, the parties began conducting initial independent geological studies on a 1728 acre section of the SAMA site to determine the potential for iron ore deposits. Magnetic susceptibility tests, geological and geomagnetic research, as well as sampling and chemical analysis testing were conducted. The site samples were examined and tested by Certimin S.A. in Peru. The study estimated that these 1728 acres contain approximately 14 million metric tons of iron deposits. The chemical analysis of the samples revealed average iron content of 47% to 50% magnetite. While a significant amount of further geological studies remain to fully verify the iron reserves contained in the mining site, these preliminary findings point to vast potential iron deposits at SAMA. Both CD International and MAPSA are committed to forwarding this project and are in various stages of negotiations with potential partners in China to exploit the enormous potential of these mining properties.
Allied Nevada Gold Corp. (NYSE: ANV) is pleased to announce that it has achieved its metal production and sales expectations in the third quarter of 2013. The Hycroft mine ("Hycroft") produced a record 52,198 ounces of gold and 184,070 ounces of silver in the third quarter of 2013 and we sold a record 52,713 ounces of gold and 184,082 ounces of silver. We believe that we are on track to achieve full year production and sales guidance of 175,000 - 200,000 ounces of gold and 0.9 million - 1.1 million ounces of silver in 2013. ANV closed up over 26% on Monday (10/7/13) at $4.85 on 15.7 Million shares traded by market close.
Alcoa (NYSE: AA) will hold a conference call Today, Tuesday, October 8, 2013 beginning at 5:00 p.m. (Eastern Time) to discuss Third Quarter 2013 results and business developments. The conference call will be webcast live via Alcoa's website, with presentation materials available on-line. (800) 510-0146 + 1 (617) 614-3449 (International) Pass Code: 68006673 To avoid a delay in start time, please dial-in beginning at 4:45 p.m.
Newmont Mining Corporation (NYSE: NEM), together with its subsidiaries, engages in the acquisition, exploration, and production of gold and copper properties. The company's assets or operations are located in the United States, Australia, Peru, Indonesia, Ghana, Mexico, and New Zealand. NEM closed up slightly on Monday (10/7/13) at $27.17 on 6.3 Million shares traded by market close.
Armco Metals Holdings, Inc. (NYSE: AMCO) engages in the import, sale, and distribution of metal ore and non-ferrous metals in the People's Republic of China. Its product line includes iron, chrome, nickel, copper, and manganese ores, as well as non-ferrous metals, coal, and steel billets. The company also recycles scrap metals used by steel mills in the production of recycled steel. In addition, it provides sourcing and pricing services for various metals to its network of customers. AMCO closed up over 15% on Monday (10/7/13) at $0.4179 on 601,000 shares traded by market close.
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