JAG Closes $340,000 Private Placement

MONTREAL, QUEBEC - Jan. 8, 2013 - J.A.G. MINES LTD. has completed the private placement announced in November 2012 for a total amount of $340,000. This placement was offered to "Accredited Investors" in units of $5,000, the share price was $0.10 per share. 3,400,000 Class A shares were issued under this private placement including 2,720,000 in the form of flow-through shares. In addition, 1,700,000 warrants were also issued, each warrant will entitle the holder thereof to acquire one share of the Issuer (on a non-flow-through basis) at a price of $0.20 for a period of twelve (12) months following the Closing date.

Shares issued pursuant to the offering will be subject to a four (4) month hold period. No commissions or finder's fees were paid under the offering.

The proceeds (80%) will be used for exploration expenditures on JAG's Properties in Belleterre-Temiscamingue and St-Robert-Beauce. A drilling campaign is presently underway in St-Robert. The objective is to drill a minimum of 2,500 meters on this property where historic values have been identified in tungsten,gold, silver, and zinc.

 

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Premier African Minerals Receives Gold Exploration Permits in Togo

 Aim-listed Premier African Minerals on Tuesday said it had secured two gold exploration permits that cover 400 km2 in the highly prospective Dapaong area, in Togo, West Africa.

The miner indicated that the permits were valid for an initial period of three years and that it intended to immediately commence exploration to quantify the full potential of the area, which added to its portfolio of mineral assets in Southern and West Africa.

CEO George Roach highlighted that the permits underlined Premier African Minerals’ development strategy that was aimed at advancing its existing portfolio, which comprised a number of preproduction assets, and increasing its asset base.

“The Dapaong project in northern Togo is an exciting addition to Premier’s diversified multicommodity portfolio. Given the substantial size of the project, the presence of Birimian-aged mineralisation, which has been proven to host commercial gold deposits across Western Africa, and the significant levels of artisanal activity, we consider Dapaong to have excellent development potential,” Roach said.

Substantial gold mineralisation had previously been discovered within Birimian-aged formation belts located in Ghana, Côte d’Ivoire, Mali, Guinea and Burkina Faso.

Major gold mines in the region include GoldFields’ Tarkwa mine, in Ghana, AngloGold’s Oubasi mine, also in Ghana, and Etruscan Resources’ Youga mine, in southern Burkina Faso.

“We expect to be active in 2013, as we look to continue with the development of our RHA and Katete projects [both in Zimbabwe], which are highly prospective for tungsten and rare-earth elements respectively,” Roach indicated.

 

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Colt Resources Strengthens Balance Sheet with $8M Financing Led

Colt Resources Inc. ("Colt" or the "Company") is pleased to announce that it has secured firm commitments to sell on a non-brokered private placement basis to Asian and Portuguese based investors as well as a number of the Company's directors up to 17,777,778 common shares at a price of $0.45 per share for total gross proceeds of up to $8,000,000 (the "Non-Brokered Private Placement"). The majority of the net proceeds from the Non-Brokered Private Placement will be applied towards the Company's Boa Fé Montemor gold project and for general corporate working capital purposes.

The Non-Brokered Private Placement is scheduled for two closings, one today and one on or about January 11, 2013 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange. The securities to be issued under the Non-Brokered Private Placement will be subject to a four-month hold period in accordance with applicable Canadian securities laws. Today, the Company will complete an initial closing for 6,000,000 common shares for total gross proceeds of $2,700,000 and is expecting to complete a final closing on or about January 11, 2013. The Company will pay a finders' fee of up to 6 per cent cash and 6 per cent non-transferable compensation warrants. Each compensation warrant entitling the holder to purchase one additional common share of Colt at CAD $0.55 per share up to and including the 7th day of January 2014.

Each of the subscriptions in the Non-Brokered Private Placement by the Company's directors constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101") and Policy 5.9 - Protection of Minority Security Holders in Special Transactions of the TSX Venture Exchange. However, the directors of the Corporation who voted in favour of the Non-Brokered Private Placement, with the directors subscribing in the Non-Brokered Private Placement abstaining, have determined that the exemptions from formal valuation and minority approval requirements provided for respectively under subsections 5.5(a) and 5.7(1)(a) of MI 61-101 can be relied on as neither the fair market value of the common shares of the Company issued to nor the fair market value of the consideration paid by such directors exceed 25% of the Company's market capitalization. None of the directors of the Company has expressed any contrary views or disagreement with respect to the foregoing. As previously-indicated, the directors who will subscribe to common shares of the Company in the Non-Brokered Private Placement have abstained from voting on the foregoing.

About Colt Resources Inc.

Colt Resources Inc. is a Canadian junior exploration company engaged in acquiring, exploring, and developing mineral properties with an emphasis on gold and tungsten.  It is currently focused on advanced stage exploration projects in Portugal, where it is one of the largest lease holders of mineral concessions.

 

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Molycorp (MCP) Rises as China Halves Production Quota for FY13

Molycorp shares re ticking higher early amid new 2013 rare earth quotas set in China over the weekend.

According to China's Ministry of Land and Resources (MLR), the first production quota for minerals used in hybrid autos, mobile devices, and more, will be set at 46,900 metric tons. That is about half the total quota for 2012, Bloomberg noted this morning. Though last years quota wasn't given, production totaled 93,800 tons in 2011.

China's MLR also set production for tungsten concentrate at 43,500 tons and antimony at 37,680 tons.

Production for the rest of the year will be set in the second quarter, according to the MLR.

Molycorp is up 3 percent in early trading Monday.

 

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Solomon Resources Limited: Rwandan Tin Project Update

Solomon Resources Limited is pleased to report on its preliminary exploration of the Rurembo Tin Project in the Republic of Rwanda. The Rurembo licence area includes highly prospective pegmatite swarms immediately adjacent to the former Belgian-owned cassiterite-columbite-tantalite mine at Gatumba and unexplored strike extensions of that metallogenic district to the north.

Solomon executed an Option Agreement effective July 12th, 2012 with the principals of Speck Minerals Ltd., a Rwandan corporation, to acquire (subject to regulatory approval) a 100% interest in the Rurembo licence. The licence permits prospecting for wolframite, cassiterite and coltan within a concession covering 110,984 hectares located in western Rwanda.

Background:

The Government of Rwanda Geology and Mines Authority (OGMR) contracted Toronto based consultant Paterson, Grant and Watson Limited to carry out an interpretation of existing geological, geochemical and geophysical data in 2009. The PGW report included 12 detailed mapsheets at 1:100,000 scale and identified 21 Prospective Target Areas (PTA's) that were ranked for tin (Sn), tungsten-niobium-tantalum (W-Nb-Ta) and/or gold (Au) and base metal mineralization. Speck Minerals Ltd. applied for and was granted a Prospecting Licence for two of these PTA's. The Rurembo Licence, which Solomon has optioned from Speck, covers an area of approximately 1000 square kilometers in northwestern Rwanda immediately north of and on strike with the historic tin producer at Gatumba.

Location and Physiography:

The Rurembo Prospecting Licence is situated in the northwestern portion of Rwanda and extends from the city of Gitarama (population 83,000) in the south to the city of Ruhengeri (population 87,000) in the north. Limited commercial services and accommodation are available in both Gitarama and Ruhengeri, and most supplies and services in support of exploration may be sourced from the city of Kigali (population 909,000).

The climate of Rwanda is temperate, with two rainy seasons (March to May and October to November). The high altitude of Rwanda provides the country with a pleasant tropical highland climate, with a mean daily temperature variation of less than 2° C. Temperatures vary considerably from region to region because of the variations in altitude. At Kigali, on the central plateau, the average temperature is 21° C. The exploration season in the licence area extends throughout the year. There are no climatic restrictions on the conduct of field exploration.

2012 Preliminary Exploration Program:

The Rurembo Project is a grassroots exploration for Sn-Ta-Nb (W), largely predicated upon the proximity of the former Belgian mine at Gatumba now privately operated as the Gatumba Mining Concession and the projected strike extensions of that geological environment into the Rurembo Licence Area.

There are artisanal miners active within the Rurembo Licence Area; these are believed to be largely illegal and rudimentary cassiterite-coltan extraction operations directed at the weathered exposure of pegmatite dykes and no production records are available.

Exploration in the Rurembo Licence area will be directed at pegmatites variably mineralized with columbite-tantalite and/or cassiterite. At the type locality in the adjacent Gatumba Concession, beryl, ambygonite, spodumene, apatite and lithium-phosphates are the most prevalent accessory minerals. At the regional scale more than 130 large pegmatites have been mapped to date, but this encompasses only a small portion of the inter-massif area of the Rurembo licence area in which a far greater number of pegmatites are thought to exist.

The pegmatites of Gatumba, dated at 968 Ma, occur in four parallel networks between the granites, with each individual network traceable up to 5 kilometers in extent. Thickness can vary from several centimeters to 30 meters, and lengths of tens of meters up to 2400 meters. The vertical extent of the pegmatites is not known as only the uppermost weathered portions have been investigated by artisanal mining.

In the present exploration program, regional geochemical indicators include Sn, lithium (Li), beryllium (Be), Ta, Nb, W and molybdenum (Mo). The pegmatite dykes may report on airborne spectrometry as there is a known thorium provenance in the Gatumba pegmatites, and airborne gravity should help differentiate the less dense pegmatites from the surrounding diorites and metasediments. Analysis of aerial photography and satellite imagery should focus on identifying dilationary zones where the north-south trending pegmatites are cross cut by regional structures.

Solomon field crews mobilized to the Republic of Rwanda on August 2nd, 2012. The Company has leased a field office and expat residence in the capital city of Kigali and hired a Country Manager and support staff.

 

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Avrupa Minerals Shares Move up with Three New Licenses to Explore in Portugal

Avrupa Minerals shares closed more than 26 per cent higher on Monday, with the junior mineral explorer recently expanding its footprint in Portugal, and announcing a polymetallic discovery at a Kosovo asset.

Shares in the Canada-based company rose 3 cents to 14.5 cents.

In mid December, the company acquired three new exploration licenses in the region.

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Blackheath Resources Inc. CEO James Robertson on Attractive Tungsten Projects in Portugal

Today kapitalerhoehungen.de had the opportunity to meet James Robertson, CEO of Blackheath Resources. Following the success of Primary Metals, Mr. Robertson and his team are back in Portugal with new tungsten projects including the past producing tungsten project at Covas in northern Portugal. Historical resources at Covas are 923,000 tons of 0.78% WO3 (tungsten trioxide). Mineralization is open in several directions and a drilling programme is underway.

Hello Mr. Robertson, to start, what is the focus of Blackheath Resources?

Blackheath Resources is a TSX Venture Exchange listed company that is entirely focused on tungsten exploration and development in Portugal. We currently hold rights to three tungsten projects, all of which are past-producing mines and we are also assessing additional tungsten acquisitions.

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China Approves 255 Companies for Ferroalloy Export licenses in 2013

China's Ministry of Commerce announced that it has granted 255 Chinese producers and trading companies licenses to export ferroalloys, including ferrosilicon, silicomanganese, ferrotungsten, ferrochrome, ferrovanadium, in 2013.

The ferroalloy exporters on the list are classified into two groups with Group A comprising 107 companies while Group B has 148. The two groups are categorized according to the types of ferroalloys they export.

In a statement on its website, the ministry did not reveal export volumes allocated to each company.

 

 

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Can Resourceful PIIGS fly?

Can PIIGS fly again? No, that’s not a typographical error. I’m referring to Europe’s PIIGS – Portugal, Ireland, Italy, Greece and Spain - the continent’s sick men.

The aftermath of recession and financial crisis has left them struggling and their travails – particularly those of Greece – have hogged the economic headlines this year. Austerity and high unemployment have left their marks too. But they have also spawned a self-help mentality.

As part of this, our PIIGS are targeting what could be a huge and largely forgotten bounty of natural resources. And they are being helped in their endeavours by a handful of entrepreneurial junior explorers and miners.

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Missing the Critical Metals Wave

Comment – Australia - So much for Australia catching the critical metals wave. Sure, we do have two tungsten producers but the main one is German-owned. Yes, we mine antimony -- well, actually a Canadian company does that for us. There is a tin producer, except that the operation is half Chinese-owned.

Graphite? Well, we're getting there, but slowly. Rare earths? It has been 17 years (at least) since work started on any of the current projects. Vanadium production has -- at last -- begun in Western Australia, but what a saga behind that; the deposit was found in 1982 and production was seemingly all set to go by 1999.

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