Re: GOLDEN BAND RESOURCES ANNOUNCES - DECEIVED - BY COMMERCIAL PRODUCTION
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Welcome To The Golden Band Resources HUB On AGORACOM
Saskatchewan's SECRET Gold Mining Development.
Message: GOLDEN BAND RESOURCES ANNOUNCES COMMERCIAL PRODUCTION ACHIEVED
Grade Lowballed
IMO, the grade of the Roy Lloyd mine is lowballed here. This is very far below expectation, and is in keeping with the Netolitzky style of halving numbers. Its a sudden about face from previous news releases.
Netolitzky is desperate to keep control of the project by rushing to dilute the shares. But he must keep the results out of the ballpark of acquirors. Big red flag on this play if the grades do not meet the expectations and the dilution has gotten out of hand.
In my estimation, Netolitzky is very serious about keeping the numbers under wraps here, but I am just as serious about somebody making a hostile bid. I would personally welcome some rough justice where they grab the collars of these dilettantes in a beard growing competition and shove them out the door with a swift kick.
Who would be looking for a gold project with the potential to fill production they just sold in Africa with a cash offer burning a hole in their pocket during summer months for an acquisition in Canada that they can get for no more than $100/oz. U.S. in the ground?
Iamgold to sell its interest in 2 Ghana mines for $667M
Iamgold (IMG-T 19.29 -0.47 -2.38%) said it agreed to sell its 18.9-percent interest in the Tarkwa and Damang gold mines in Ghana to Gold Fields Ltd , the world's fourth largest gold producer, for $667 million US in cash.
"We cannot fully leverage our skills and experience in developing and operating mines if we are not the operator and have a minority interest in the mine," Iamgold's Chief Executive Steve Letwin said in a statement.
Gold Fields—the No.2 producer in Africa with operations also in South America and Australia—owns the majority stake in both the mines in West Africa. It said the deal will lower production costs.
On completion of the deal, Gold Fields will have raised its interest in each of the Tarkwa and Damang gold mines to 90 percent from 71.1 percent. The remaining 10 percent is held by the Government of Ghana.
West Africa is touted to be one of the world's fastest growth regions for gold production over the next four years, with output seen rising 30 percent, according to a study by GFMS, a metals consultancy.
Gold Fields expects to increase attributable production from West Africa by about 181,000 ounces per year, and attributable gold resources by 3.3 million ounces after the deal.
The mid-tier gold miner Iamgold said it will have more than $1 billion in cash, cash equivalents and gold bullion (at market), after the deal's close.
Iamgold, which has a $350 million undrawn credit facility, said the transaction is expected to close by July 31.
http://www.bnn.ca/News/2011/4/15/Iamgold-to-sell-its-interest-in-2-Ghana-mines-for-667M.aspx
Its not a far stretch in the least that La Ronge will produce these kinds of numbers with absolutely minimal input by IAMgold.
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