Today, March 5, 2010, three gold mining companies, Nova Gold, Appollo Gold, and Yamana Gold made headlines.
Nova Gold Resources announced that landowners have approved certain amendments to the lease for subsurface and surface rights in connection with the Donlin Creek property; the existing lease covers the subsurface rights for the entire Donlin Creek mineral reserves and resources.
Apollo Gold announces that its first drill assay results intercepted high grade gold mineralization at the Pike River Project. The assay shows high grade gold mineralization.
Yamana Gold has not had the same good fortune lately. The company’s costs were higher than expected at the company's Jacobina mine in Brazil and El Penon in Chile during the fourth quarter, which pumped up cash costs of gold on a per ounce basis. Yamana claims it has performed below expectations as a result of damage to its Minera Florida mine in Chile due to ongoing power outages caused by recent earthquakes.
This article is intended to be a regular feature on 24K Chu Kam as time allows.
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