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Random News from Mining Top News

Global equities, base metals mining stocks – market health improving

Global equities have risen 12% since lows in June, boosted by sharp declines in crude oil prices and bond yields, as well as a resurgence in mining stocks, and the rally could further broaden out, according to the Bank Credit Analyst (BCA).
The rally, which followed a sharp correction in global markets that set in on [...]

BPZ Energy Reports Successful Oil and Gas Tests on CX11-21XD Well

BPZ Energy, Inc. announced the results of tests conducted on the CX11-21XD well in the Corvina field located offshore northwest Peru. The well tested at a rate of 40 million cubic feet per day (MMcfpd) of natural gas and 3,150 barrels of crude oil per day (bopd).
A total of four Drill Stem Tests (DST) were [...]

U.S. Energy Corp. Announces the Spudding of Its First Well With Houston Energy L.P.

U.S. Energy Corp. announced the spudding of its first well under a previously announced Participation Agreement with Houston, Texas based Houston Energy L.P. whereby USE acquired a 10% working interest in an oil and gas prospect located in Southeast Texas. HE is the operator of the project.
The well is located in Matagorda County, TX [...]

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PetroSun BioFuels Announces Transaction With Icon Drilling

PetroSun, Incorporated is pleased to announce that its wholly owned subsidiary, PetroSun BioFuels Australasia, has entered into a Letter of Intent with Icon Drilling of Brisbane, Australia. The purpose of the transaction is to create a publicly traded alternative fuel company in Australia. Icon Drilling is a wholly owned subsidiary of Icon Energy that is [...]

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Texas firm plans 3 ethanol plants

Harvest BioFuels LLC of Dallas, Texas, plans to build three ethanol plants in north-central Iowa that could produce 300 million gallons of the fuel a year, the company announced Wednesday.
Construction of a plant near Galbraith in eastern Kossuth County is scheduled to begin in April and is expected to be completed by June 2008. Construction [...]

Peabody Profit Up 61 Pct on Coal Demand

Global demand for coal spurred a 61 percent jump in Peabody Energy Corp.’s second-quarter earnings, reported Thursday. But shares in the world’s largest coal company sank 9.5 percent on what one analyst called concerns about potential softening in coal industry prices.
The St. Louis-based company earned $153.4 million, or 57 cents a share, for the period [...]

Clifton Star Resources, Inc.: Revisions, Reviews and Acquisitions

Clifton Star Resources, Inc. announce that an amendment to the payment schedule on the Beattie/Donchester/Dumico properties in Duparquet township, Quebec has been reached with the vendors with a payment of $500,000 on December 1, 2008 and the balance of $8,500,000 postponed to July 1, 2009. Also, they have agreed to accept the final payment in [...]

Lounor Acquires a Platinum-Palladium Property

Lounor Exploration Inc. announce the acquisition of 2 Mineral Claims in Fiedmont Township in the Val-d’Or mining distinct, province of Québec.
Lounor will pay $40,000 and issue 300,000 common shares over a three-year period to acquire a 100% interest in the property. The Optionors have retained a 2% NSR in the property. The acquisition is subject [...]

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India: Gold and silver marginally up in thin trading

In dull trading, prices of both gold and silver moved narrowly and closed with minor gains on the opening day of the year 2007 at the bullion market today.
Trading activity remained restricted due to closure of many international markets on account of New Year and Id-ul-Zuha and most of the transactions were carried over [...]

Whiting Petroleum 3Q Profit Jumps 49 Percent on Higher Oil Prices, Production

Oil and gas company Whiting Petroleum Corp. said Monday its third-quarter profit grew 49 percent, as increased production and oil prices helped offset lower natural gas prices.
Quarterly profit jumped to $49.5 million, or $1.35 per share, from $33.3 million, or $1.12 per share, in the year-ago period. The recent quarter’s results include a gain of [...]