AEM Enters JV on Finland’s Hanhimaa Project

Dragon Mining signed a Letter of Intent with Agnico-Eagle Mines Ltd. (AEM), whereby AEM can earn up to a 70% interest in the Hanhimaa gold project with the staged expenditure of €9 million over six years. The Hanhimaa project is located in northern Finland and covers portion of the highly prospective Central Lapland Greenstone Belt. The 360.2 km2 near contiguous holding encompasses the north-south trending Hanhimaa Shear Zone, 10 km west of AEM’s Kittila gold mine.

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Tournigan Reports Positive PFS for Kuriskova

Tournigan Energy reported in late January 2012 that it has received a positive preliminary feasibility study (PFS) on its flagship Kuriskova high-grade uranium deposit in Slovakia from Tetra Tech. The PFS states that the project would be best developed as an underground mine using conventional mining and processing methods. The mine plan is based on underhand drift-and-fill mining, utilizing a roadheader as the primary production method and assuming an external dilution (over break) of 5% at a grade of 0.03% U.

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GPM Gold Implements the Latest Processing Technology at Ararat

During early July, GeoProMining (GPM) held a groundbreaking ceremony for its new gold extraction upgrade at its Ararat gold extraction plant, located near Yerevan, Armenia. The President of the Republic of Armenia, Serzh Sargsyan, attended the event. The facility is using the Albion gold ore processing technology, which is part of a major capital expenditure program by GPM to upgrade its Armenian assets.

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Boliden Expanding at Garpenberg

Boliden has announced plans to invest SEK3.9 billion (about $606 million) to expand production at its Garpenberg mine, 150 km northwest of Stockholm, Sweden. The expansion will nearly double production of mined ore at Garpenberg from 1.4 million mt/y currently to 2.5 million mt/y by the end of 2015. Spending will go toward construction of a new concentrator, new shafts and underground facilities, and infrastructure upgrades. At the same time, the production cost per ton of ore will decrease by around 25%.

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