Alluvial Diamond Mining Expert Wants Changes to Rockwell Board

Hennie Van Wyk, the former owner and operator of the majority of the assets of Rockwell Diamonds Inc., and a holder of approximately 4.3% of Rockwell, today commented on Pala Investments Holdings’ proposed slate of directors for Rockwell. “As a shareholder of Rockwell, I have grave concerns about the current mismanagement of the company I helped create. I left Rockwell because of management’s... 

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Pala Commends Positive Steps Taken by Coalcorp

Pala Investments Holdings Limited commended the positive steps announced today by the board of directors of Coalcorp Mining Inc. to increase the independence and strength of the board. Coalcorp announced today that three of its current directors have resigned from the board and will be replaced immediately by two representatives of Pala, Jan Castro and Joseph Belan, and an independent director, Luis... 

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Rockwell Diamonds Inc. Receives Ruling That Pala Offer in Breach of South African Securities Legislation

Rockwell Diamonds Inc. announced today that the Executive Director of the South African Securities Regulation Panel (“the SRP”) in response to objections lodged by Rockwell issued a ruling on October 14, 2008 with respect to the unsolicited offer by Pala Investments Holdings Ltd (“Pala”) to acquire all of the outstanding shares of Rockwell for $0.36 per share (“the Offer”). The... 

Pala Investments Acquires Strategic Interest in Dumas Contracting Ltd.

Dumas Contracting Ltd, one of Canada’s largest underground mining contractors, and Pala Investments Holdings Limited, an international investment company focused on the mining sector, announced today that they have reached an agreement whereby Pala will acquire a controlling interest in Dumas. Daniel Dumas will remain a significant shareholder, and President and CEO of the company. Commenting on... 

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Rockwell Recommends Shareholders Reject Hostile Pala Bid

Rockwell Diamonds Inc. announced that its Board of Directors, based on the recommendation of its Special Committee of independent directors, unanimously recommends that Rockwell shareholders reject the unsolicited offer by Pala Investments Holdings Limited (“Pala”) to acquire all of the outstanding shares of Rockwell for $0.36 per share. After careful consideration, including consultation... 

Rockwell Responds to Allegations That Pala Denied Right to Vote at AGM

Rockwell Diamonds Inc. responds to the announcement by Pala Investments Holdings Limited that Pala was denied the right to vote its common shares of Rockwell at the Company’s annual general meeting held September 15, 2008 in London. To vote at the AGM, as is the case at all annual meetings of public companies, a shareholder was required to either be a registered shareholder or properly instruct... 

NewGen Agrees to Terms for $70 Million in Senior Debt Financing to Fund APPCO Acquisition and Pursue Additional Strategic Initiatives

NewGen Technologies, Inc. announced that it and BioFuel Investments, LLC (“BFI”) reached an agreement relating to $70 million in secured debt financing. Proceeds from the financing will be utilized to complete the purchase of Appalachian Oil Company (“APPCO”), pay off existing debt and other strategic objectives to facilitate distribution of premium blended biofuels through... 

Zimbabwe: Platinum Sales Rake in $72,8 Million

LEADING platinum producers, the Zimbabwe Platinum Mines (Zimplats) and Mimosa Platinum, grossed US$72,8 million from sales of the “white metal” during the first half of the year. Both companies registered a combined output of 80 000 ounces. In its mid-year report, Impala Platinum Holdings (Implats), the majority shareholder in both companies, said production went up 25 percent from 39 000... 

Appalachia mining firm gets $117M in funding

A mining and gas drilling company announced Tuesday that it has received $117 million in funding to expand its business. Targe Energy, an Aspinwall, Pa.-based surface coal mining, gas drilling and coal reclamation company, received the bulk of the funding from the New York-based Carlyle/Riverstone Global Energy and Power Fund III, L.P. Targe operates surface mines in Northern Appalachia.  Read More →

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