Midland Exploration Inc.(TSX VENTURE:MD) and North American Palladium Ltd. today announced the commencement of its first exploration program on the Laflamme project, located about 25 kilometres west of the town of Lebel-sur-Quevillon in Abitibi, Quebec.
Colossus Minerals Inc. (TSX:CSI) announced that the company has closed the previously announced bought deal offering and issued an aggregate of 12,500,000 common shares of the Company at a price of CDN$5.75 per share, for aggregate gross proceeds of CDN$71,875,000.
Probe Mines Limited (TSX VENTURE:PRB) announced that the Phase II diamond drilling on the Probe-Noront Resources (TSX VENTURE:NOT) Joint Venture Project’s Black Creek high-grade chromite discovery in the McFauld’s Lake area of the James Bay Lowlands has been successfully completed.
With the Federal Reserve promising to keep US interest rates at a record low of near zero for the foreseeable future, analysts expect gold and other precious metals to fetch higher prices in the coming months. Palladium prices have been playing catch-up after plummeting in response to sluggish industrial demand and is expected to be a better show than gold in 2009.
Thursday, October 29, 2009