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Random News from Mining Top News

CGGVeritas Provides Vessel Utilization Update for the Second Quarter 2008

CGGVeritas provides its vessel utilization and fleet allocation updates for the second quarter of 2008 and announces the release date for the second quarter financial results.
Vessel utilization update for the second quarter 2008:
Going forward, CGGVeritas will publish on a quarterly basis a vessel utilization update. Two indicators will be disclosed:
- Vessel availability rate, a metric [...]

Royal Gold makes $20.5M purchase

Royal Gold Inc. has purchased a net smelter return sliding-scale royalty for $20.5 million on Barrick Gold Corp.’s Pascua Lama project on the border between Argentina and Chile, Royal Gold said Wednesday.
Denver-based Royal Gold said the royalty will range from 0.16 percent to 1.08 percent depending on the average price of gold during the quarter. [...]

Crude oil prices lift Schlumberger’s profit by 13 percent

Oilfield services provider Schlumberger Ltd. reporting a nearly 13 percent jump in profit driven by robust spending among customers searching for new sources of crude and natural gas. Unless the global economy goes into the tank, Schlumberger said it expects continued brisk spending on exploration and production as energy companies try to benefit from high [...]

Gray Creek Mining Inc. Acquired by Budget Waste Inc.

Gray Creek Mining Inc. announces that effective November 10, 2008, it has acquired from Budget Waste Inc., a Nevada corporation its wholly owned subsidiary, Budget Waste Inc., an Alberta corporation, which holds and controls 100% of BWI’s assets and business operations, for approximately 52% of the outstanding shares of common stock of Gray Creek in [...]

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Barrick Consolidates Sturgeon Lake Oil Assets

Barrick Gold Corporation announced that it has entered into a definitive agreement to purchase oil and gas assets representing production of approximately 900 barrels of oil equivalent (BOE) per day at Sturgeon Lake, Alberta, from Daylight Resources Trust for $87.5 million in cash. This transaction follows Barrick’s recent $410 million cash offer for Cadence Energy [...]

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Iron Ore Holdings Trading Halted, Pending Company Announcement

The securities of Iron Ore Holdings will be placed in pre-open at the request of the company until the earlier of the commencement of normal trading on Tuesday, 1 April 2008 or when the announcement is released to the market.
Original Announcement: Trading Halt

Diamond Offshore Drilling, Inc. Schedules Conference Call/Web Cast for First-Quarter 2007 Results

Diamond Offshore Drilling, Inc. announced that it will issue a press release and host a conference call and web cast related to its first-quarter 2007 operating results on Thursday, April 26, 2007. The conference call and web cast will include a discussion by management regarding the Company’s results of operation, as well as an operating [...]

Quest Resource to offer 8.4 million shares, use proceeds to partly fund acquisition

Oil and gas production company Quest Resource Corp. on Tuesday said it began an underwritten public offering of about 8.4 million shares of stock.
Underwriters have a 30-day option to purchase up to about 1.3 million additional shares.
Quest said it will use about $70 million of net proceeds to fund part of its $140 million pending [...]

Largo Receives Critical License for Maracas Vanadium Project

Largo Resources Ltd. announce that the Environmental State Council of Bahia, the Conselho Estadual de Meio Ambiente has granted the Localization License for its Maracas Vanadium Project, in Bahia State, Brazil. The approval was confirmed today by publication in the Official Gazette of the state of Bahia.
Stated Mark Brennan, President and CEO of Largo [...]

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Jackson: Drilling off Va. could hurt N.J.

If Congress allows oil and natural gas drilling off the Virginia coast, New Jersey’s $36 billion-a-year tourism industry and fragile coastal ecosystems could be devastated, state Environment Commissioner Lisa Jackson told a Senate panel Thursday.
The state’s commercial and sport fishing industries as well as aquaculture operations, which together generate $4.5 billion a year, also [...]