KAZAKHSTAN - Mechel sells Voskhod plant

Mechel OAO, one of Russia’s leading mining and metals companies, has closing the deal for disposal of 100% shares in the Voskhod Mining Plant at Khromtau in Kazakhstan and for the Tikhvin Ferroalloy Plant in the Leningrad region of Russia to Turkey’s YILDIRIM Group for US$425 million.

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INDONESIA - Hillgrove seeks partners

Following Hillgrove Resources’ decision to wind back the exploration activity for both the Bird’s Head and Sumba assets in order to preserve cash, recent activities continued to concentrate on the remaining service contracts and reducing staff levels where appropriate.

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GOLD – Ballarat mine delivers 55% resource increase

LionGold Corp’s subsidiary Castlemaine Goldfields has announced an updated JORC-compliant mineral resource estimate at its Ballarat Gold Mine in the Australian state of Victoria based on ongoing diamond drilling and a review of the geological controls to gold mineralization. The updated inferred resource totals 411,000 tonnes at a grade of 8.5 grams/tonne for 112,200 ounces of contained gold when reported at a zero cut-off grade.

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INVESTMENT - China Gold subscribes in Asia Now

China Gold Pte Ltd has subscribed for Can$1.248 million in aggregate principal amount of unsecured convertible debentures of Asia Now Resources Corp by way of a private placement.

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