Latest mining news : Antofagasta, Noricum Gold, Thor Mining

Latest mining news : Antofagasta, Noricum Gold, Thor Mining
09/03/2011 by about : Company Reports - 0 Comments - 252 words

Randgold Resources and African Barrick were fallers yesterday in the mining sector as Antofagasta, reviewed in todays Independent with hold recommendation, announced that it is to pay a special dividend after full year profits last year were at $1bn from $668m.

Revenues improved by 55% for the copper miner, at $4.58bn from $2.96bn previously as Antofagasta indicated that increased output and excalation in commodity prices had supported its margins.

Austrian focussed gold exploration and development company Noricum Gold announced today, the start of a mineral exploration programme to advance Rotgülden and Kliening prospects towards Mineral Resource definition. Field work to commence in April 2011.

CEO Greg Kuenzel said "Initial work represents the next stage of development of our Austrian assets. Our active development plan is focussed on fast-tracking these projects, which have both good access and historical workings on site, with the aim of defining a Maiden JORC Resource and advancing our assets towards production."

Thor Mining ASX focussed on gold, base metals and advancing tungsten-molybdenum projects in the Northern Territory of Australia have commenced maiden drilling program at the Dundas Gold Project in Western Australia.

The drilling program is designed to test the upper levels of bedrock for gold mineralisation. Assay samples collected are expected in late March, early April.

Thor Dundas Project is within the Albany-Fraser Province which already hosts a number of recent gold discoveries including the +5 million ounce Tropicana gold deposit, and other discoveries including Hercules, Beachcomber, Socrates, Corvette, and Corona.