CORAL SPRINGS, Florida, March 4, 2014 /PRNewswire/ --
Mining sector makes strides to recovery by increasing resources through the expansion of territories and divestiture with certain assets by others: DNA Precious Metals Inc. (OTC: DNAP), Barrick Gold Corporation (NYSE: ABX), Golden Star Resources Ltd. (NYSE: GSS) and North American Palladium Ltd. (NYSE: PAL).
DNA Precious Metals Inc. (OTCQB: DNAP) is pleased to announce that it has acquired an undivided one hundred percent (100%) interest of the St. Anne Mining Claims located in Notre-Dame-de-Montauban, Quebec, Canada. The 50 contiguous claims ("Mineral Claims") totalize an approximate surface of 1164 hectares. These 50 mining claims are contiguous to DNA's mining claims covering an area of approximately 340 hectares on the Montauban Mine Property, and are described as St. Anne Claims in the Property Map on the DNA Website http://www.dnapreciousmetals.com/maps. DNA Precious Metals Inc. has fulfilled its contractual obligations under the Asset Purchase Agreement and paid for the benefit of the Vendors cash and common shares of DNA Precious Metals Inc., representing a value of approximately $400,000 as of the date of this Release.
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The acquired mining assets, described as the St. Anne Claims on the Property Map http://www.dnapreciousmetals.com/maps, are fundamental to Company's current 100% claimed Montauban Mine Property mining claims. This acquisition solidifies DNA Precious Metal's Montauban Mine Property bundle, while expanding exploration and mining potential. Reported historical past production from the Montauban Mine Property includes 150,000 ounces of gold, and 7,000,000 ounces of silver as well as 109,000 metric tons of zinc and 37,000 metric tons of lead.
Barrick Gold Corporation (NYSE: ABX) recently announced it has completed the divestiture of its interest in the Kanowna Belle and Kundana mine operations (collectively "Kanowna") in Western Australia to Northern Star Resources Ltd ("Northern Star") for total cash consideration of A$75 million, subject to certain closing adjustments. As part of its portfolio optimization program, since mid-2013 Barrick has announced divestitures of high cost and non-core assets for total consideration of almost $1 billion, strengthening the overall quality of the company's portfolio. UBS Securities Canada Inc. and BofA Merrill Lynch are acting as financial advisors to Barrick with respect to the transaction. Clayton Utz is acting as legal counsel to Barrick.
Golden Star Resources Ltd. (NYSE: GSS) engages in the acquisition, exploration, development, and operation of gold properties. The company primarily owns and operates the Bogoso/Prestea gold mining and processing operations that cover approximately 40 kilometers of strike along the southwest-trending Ashanti gold district in Western Ghana; and the Wassa open-pit gold mine and carbon-in-leach processing plant located to the east of Bogoso/Prestea in Southwest Ghana. GSS closed up over 8% on Monday at $0.78 per share on 2.5Mil shares traded by market close.
North American Palladium Ltd. (NYSE: PAL) recently reported on the progress of its production ramp up from the lower Offset Zone utilizing the new shaft infrastructure at its Lac des Iles palladium mine ("LDI") in northern Ontario. In January, underground production averaged over 3,100 tonnes per day, ahead of the Company's operating guidance, which forecasted an average underground mining rate of approximately 3,000 tonnes per day for the first half of the year. The Company estimates that payable palladium production in January totaled approximately 15,200 ounces, which was approximately 15% above internal forecasts and represented one of the best months in the last two years of operation. Production in January also benefited from higher underground grades which averaged approximately 4.90 grams per tonne palladium.
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