DENVER — Apollo Gold Corporation announces that it has prepaid U.S. $ 1952000 of U.S. $ 4789000 remaining balance of the under facilities agreement with RMB Australia Holdings Limited ( “RMB”) of the proceeds of unwinding of its hedge position more fully described below.
On 12 October 2007, Apollo entered into U.S. $ 8000000 facility agreement (the “Facility Agreement”) by and between Apollo and its wholly owned subsidiaries, Montana Tunnels Mining, Inc. and Apollo Gold, Inc., that borrowers and guarantors, and RMB as a lender. The facility agreement has been fully reimbursed by Apollo in 2008 with the last installment payments are made in August 2008.
On 1 July 2008, Apollo has entered into an amendment to the facility agreement (the “Amendment”) and borrowed an additional U.S. $ 5,150,000 (the “credit facility extended”) and entered into put and contracts ( “contracts”) for gold, silver, lead and zinc Read more »
October 24th, 2008 | Posted in Gold, Mining Exploration, Mining News, Nickel, mining stock | No Comments
LOS ANGELES, CA -ZCOM Networks, Inc , a listed company, announced the Company signed a contract with Global Mining and Construction Group , LLC to conduct sampling and analyze the CLS mining # 12 in Ridgecrest, California. The scope of work includes designing an exploration, excavation sampling points, and collection and analyze the samples of ore The independent study of existing reports will help the company to better quantify reserves of precious metals, the target pre-authorize recovery operations, identify short - and long-term mining longevity and maximize the efficiency of operations.
About ZCOM Networks, Inc: ZCOM is a multi-industry holding company with diversified interests including, inter alia, wholly owned subsidiaries, Allied Minerals Group, Inc., a mining, exploration and extraction company with the 160 acres of gold, silver, tungsten, copper and platinum placer request CLS # 12 in Ridgecrest, California; Pam TV International, Inc., a talk and music program provider offering a wide range of content through an interactive multi-platform media distribution using the Internet, traditional radio and satellite radio and Super Bazar International, Inc., a network of stores marketing and promotion of several products to the Television, radio and the Internet including fuel and Super TV Box. Read more »
October 24th, 2008 | Posted in Gold, Mining Exploration, Mining News | No Comments
The Mozambican government requires more work from companies licensed to mine for gold and other metals in the country, such as nickel, aluminum, copper, zinc and lead, and has threatened to cancel the licenses for those who are not with them.
Mineral Resources Minister Esperanca Bias on Wednesday noted that many companies were granted licenses but are not in the area, while others do not comply with the legislation for the mining industry.
Speaking in Maputo, during a meeting with representatives of companies licensed to mine gold and other metals, bias, said that those companies which do not follow the law May their licenses revoked. Read more »
October 23rd, 2008 | Posted in Gold, Mining Exploration, Mining News, Oil, Oil Prices | No Comments
