Friday, May 31, 2013

Rainy River Resources Ltd. - RR.t

Rainy River Resources Ltd. - RR.t key asset is its large, 100%-owned, advanced exploration stage Rainy River gold project, hosting a NI43-101 compliant gold resource of 1.2 Moz Measured, 5.0 Moz indicated and 2.3 Moz inferred.

The April 2013 Feasibility Study envisions average annual production of 326,000 of gold and 494,000 ounces of silver over the first 10 years. Cash costs average US$486 per ounce in this period, with mill head grades averaging 1.46 g/t.


On May 31, 2013 the company released NEWS

New Gold Agrees to Acquire Rainy River Resources Growing Gold Reserves by Over 40 Percent per Share.

TORONTO, May 31, 2013 /CNW/ - New Gold Inc. ("New Gold") (TSX and NYSE MKT:NGD) and Rainy River Resources Ltd. ("Rainy River") (TSX: RR) today jointly announce that they have entered into a definitive acquisition agreement (the "Agreement"), whereby New Gold will offer to acquire all of the outstanding common shares of Rainy River through a friendly take-over bid. Under the terms of the Agreement, New Gold will offer, at the election of each holder of Rainy River common shares, 0.5 of a common share of New Gold or $3.83 in cash, in each case subject to pro ration (the "Offer"). The Offer represents a premium of 42% over the closing price of the Rainy River shares on the Toronto Stock Exchange on May 30, 2013, the last day of trading prior to announcement of the Offer, and a 67% premium to Rainy River's 20-day volume weighted average trading price. The maximum number of New Gold shares to be issued will be approximately 25.8 million and the maximum cash consideration will be approximately $198 million. The Offer values the fully-diluted in-the-money share capital of Rainy River, net of Rainy River's current cash balance, at approximately $310 million.

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Thursday, May 30, 2013

Lucara Diamond finds 239 ct stone

The big finds keep coming for Lucara Diamond Corp. The latest notable discovery is a 239.2-carat diamond from the Karowe Mine in Botswana.

In addition, two more large stones weighing 124 carats and 71.1 carats have also been recovered. The diamonds will be sent to Antwerp to be studied prior to being sold later in the year. The company explained that the diamonds were recovered from the central kimberlite domain, which has only recently become ore feed to the plant as the pit expands towards the south.

"The recovery of these large stones is hugely significant to both Lucara and Botswana,” said William Lamb, president and CEO.

https://www.idexonline.com/index.asp
http://pennystockjournal.blogspot.com/2012/11/lucara-diamond-corp-luct.html

BOTSWANA – Lucara Diamond Corp. of Vancouver has recovered a rare 9.46-ct Type II blue diamond from its wholly owned Karowe mine. The diamond is the first of its kind to be identified at Karowe.

Diamond production at Karowe is to be 270,000 ct in 2012 and approximately 400,000 ct/y thereafter. The mine has a life of at least 15 years based on a probable reserve from surface to a depth of 324 metres of 36.2 million tonnes containing 6.3 million ct.









Friday, May 24, 2013

Niko Resources Ltd.- NKO.t

Niko Resources Ltd.- NKO.t has operations in India, Bangladesh, Indonesia, Kurdistan Iraq, Madagascar, Pakistan and Trinidad.

Indian and Bangladesh production provides strong cash flows enabling the company to fund exploration activities.








On May 24, 2013 the company released News

RIL, BP and NIKO announce a significant gas condensate discovery in deepwater KG D6 block, offshore India

Reliance Industries Limited (RIL) and its partners BP and NIKO today announced a significant gas and condensate discovery in the KG D6 block off the eastern coast of India.
The KGD6-MJ1 well was drilled in a water depth of 1,024 metres - and to a total depth of 4,509 metres - to explore the prospectivity of a Mesozoic Synrift Clastic reservoir lying over 2,000 metres below the already producing reservoirs in the D1- D3 gas fields.

Formation evaluation indicates a gross gas and condensate column in the well of about 155 metres in the Mesozoic reservoirs. In the drill stem test, the well flowed 30.6 million standard cubic feet per day (mmscfd) and liquid rate of 2,121 barrels a day with a choke of 36/64" with a flowing bottom hole pressure of 8461 psia suggesting good flow potential. Well flow rates during such tests are limited by the rig and well test equipment configuration.














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Thursday, May 23, 2013

Macro Industries Inc - MCR.v

Macro Industries Inc - MCR.v specializes in construction and maintenance of small- to mid-inch pipelines, facilities and gathering systems. Operations are centered in Fort St. John, B.C., with a satellite office located in Hinton, Alberta.

Macro Industries maintains one of the most modern fleets of heavy equipment in the industry.


On May 22, 2013 the company released Q1 Numbers
 
Summary of financial results
(thousands of dollars except per share amounts)
 
Three months ended March 31
2013
2012
(unaudited)
(unaudited)
 
$60,122
 
$41,827
 
15,021
 
8,360
 
9,685
 
5,221
 
$0.40
 
$0.21
 
24,118
 
23,931
 






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