Virginia Mines Inc.: $2.4 M Flow-Through Private Placement Financing

Virginia Mines Inc. announces that it has negotiated a private placement that consists of 279,124 flow-through common shares at a price of $8.67 per share, which represents 69% premium to the last 10 days volume weighted average price for gross proceeds of CA$2,420,000. Casimir Capital L.P. (“Casimir”) acts as the agent for the financing. At the closing, Virginia agrees to pay Casimir a... 

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RedHawk Energy Acquires Xxtreme Group for $66.0 Million

RedHawk Energy Corporation announced that it has acquired 100% of the membership interests of Texas-based Xxtreme Pipe Services, LLC, Xxtreme Pipe Storage, LLC, Xxtreme Tubular Processors, LLC and Wolf Pack Rentals, L.L.C. (collectively, the “Xxtreme Group”) for $66.0 million in cash, preferred stock and assumed debt. The purchase price is subject to certain post-closing adjustments. Headquartered... 

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Timberline Receives Permit to Begin Development At Its Butte Highlands Gold Project

Timberline Resources Corporation announce that it has received its Amended Exploration Permit from the Montana Department of Environmental Quality (DEQ). This permit authorizes the company to proceed with its underground development and exploration activities as a pre-cursor to production at its Butte Highlands Gold Project. Timberline and its 50% joint venture partner are now authorized to construct... 

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Revett Elects Tony Alford as New Director at Recently Concluded AGM

Revett Minerals Inc. announce that at its annual and special meeting of the shareholders held on June 16, 2009, shareholders of the company approved all resolutions put before them by management. Directors elected at the AGM are, John G. Shanahan, David R. Lewis, Timothy R. Lindsey and new director Tony L. Alford. Mr. Alford is the Founder and President of PBA Consultants, Inc. since April 1996, a... 

AB Resources Gears Up to Aggressively Exploit the Marcellus Shale

AB Resources LLC has taken steps to enhance the technical expertise required to explore and develop the Company’s extensive acreage position in the Marcellus Shale formation. The Marcellus Shale, a gas-productive formation spread across Pennsylvania and West Virginia, has become the premier natural gas play in the Appalachian Basin. AB Resources is poised to become a leading operator in Marcellus... 

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Mechel Announces Deal to Acquire Coking Coal Assets of Bluestone Coal Corp.

Mechel OAO, one of the leading Russian mining and metals companies, announced that its subsidiaries have closed the acquisition, which was reported on April 22 2009, of U.S. entities Bluestone Industries, Inc., a West Virginia corporation, Dynamic Energy, Inc., a West Virginia corporation, JCJ Coal Group, LLC, a Delaware limited liability company and some of its West Virginia affiliates, privately-held... 

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AB Resources Enhances Its Marcellus Shale Production Team

AB Resources LLC, a rapidly growing oil and gas exploration and development company, has moved to enhance the Company’s ability to produce and transport natural gas from its current and future wells in the Marcellus Shale formation. The Marcellus Shale, a gas-productive formation spread across Pennsylvania and West Virginia, has become the premier natural gas play in the Appalachian Basin. AB Resources... 

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Virginia Finalizes the Sale of Two Properties

Virginia Mines Inc. is among the most active mining exploration companies in Quebec announces that it has sold the Lac Dufault property to Breakwater Resources Ltd., and has finalized the sale to Rukwa Uranium Inc. of the Uranium Nord property, initiated in May 2007. Lac Dufault Property Following the signing of an agreement where Breakwater acquired a 100% interest in three (3) claims located in the... 

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Trans Energy Completes First Horizontal Well in Marcellus Shale

Trans Energy, Inc. announced that it has completed its Hart #28H well in Wetzel County, West Virginia. The Hart #28H was drilled and completed horizontally in the Marcellus shale, a prolific new “resource play” in Appalachia, similar to the Barnett, Fayetteville and Haynesville shales in Texas, Arkansas and Louisiana. The well is purging water used in the frac process and was turned in... 

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Cliffs Natural Resources Inc. Takes Actions to Reduce Metallurgical Coal Production

Cliffs Natural Resources Inc., citing a continuing softness in the demand for metallurgical coal used by the steel industry, announced that it is taking a number of steps at its mines in West Virginia and Alabama to align its 2009 production with customer demand. In West Virginia, its wholly owned subsidiary Pinnacle Mining Company LLC , has indefinitely idled its Green Ridge No. 1 mine. In addition,... 

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