Thursday September 02, 11:00Baobab Resources identifies distinct ore domain at Tete’s South Zone
Baobab MD Ben James said the latest drilling results from the Tete project's South Zone characterise a distinct, higher mass recovery, ore domain.
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Thursday September 02, 08:15Indonesia edges closer toward uranium mining and nuclear power
After nearly five decades of national debate on the issue, Indonesia's central government may finally be ready to develop a national nuclear policy, which may lead to domestic uranium mining.
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Wednesday September 01, 01:25Green Dragon Gas reports significant growth as China’s thirst for energy continues
China's thirst for energy resources has continued with an increased focus on domestic supplies of gas, Green Dragon Gas chairman Randeep Grewal said today.
In the company's interim results, [...]
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Sprott Asset Management Inc. is an independent asset management company based in North America. As of December 31, 2008, the Company had approximately 90,000 client accounts comprised primarily of retail, high net worth and, to a lesser extent, institutional investors.
Sprott raises stake in Norseman Gold to 11.6 pct
Australian gold producer Norseman Gold PLC (AIM: NGL; ASX: NGX) said funds of Sprott Asset Management LP acquired further shares in the company. Sprott now controls 19,879,811 shares, having raised its stake to 11.6 percent from 10.5 percent.
Last week, the miner posted a A$20.4 million maiden net profit for the full year due to rising revenues while operational costs were pushed below the bottom range of the forecast. Revenues were up 36 percent year-on-year at A$96.7 million.
The company plans to increase the reserves at the Norseman mine through exploration drilling from the current 310,000 ounces to 500,000 and ultimately 750,000 ounces over the next two years, seeking to expand the mine life to 10 years from the current minimum of five years.
Norseman is confident about its prospects for the coming year and targeted acquisitions, bolstered by a balance sheet of A$68 million and cash balances of A$32.6 million.
Shares in the group had a good run of late, currently trading in London at around 46.5 pence a share, roughly 50 percent above their level of mid-August and way above January levels, when the stock hovered around the 2-3p mark.
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