Archive for May, 2010

Erdene Announces Highlights of AGM

Erdene Resource Development Corp. (TSX:ERD), a diversified minerals company with assets in Canada, the United States and Mongolia, commented on the results of its Annual General Meeting of Shareholders, held on May 20, 2010.

North American Gem Inc. Grants Incentive Stock Options

North American Gem Inc. (NAG) (TSX VENTURE:NAG) reported that pursuant to its stock option plan, the Company has granted incentive stock options to its directors, officers, consultants, and employees to purchase in the total of 1,750,000 common shares in the capital stock of the Company, subject to regulatory approval, exercisable for a period of five years, at a price of $0.13 per share.

Quadra and FNX Complete Merger

Quadra Mining Ltd. (TSX:QUA) and FNX Mining Company (“FNX”) (TSX:FNX) reported that that they have completed the merger of the two companies to create a new leading intermediate copper producer.

Ivanhoe Mines Advances Financing for Oyu Tolgoi Copper-Gold Project

Robert Friedland, Executive Chairman of Ivanhoe Mines (TSX:IVN)(NYSE:IVN)(NASDAQ:IVN), and John Macken, President and Chief Executive Officer, reported that Ivanhoe Mines has signed a joint mandate letter with the European Bank for Reconstruction and Development and the International Finance Corporation for evaluation of a major financing package for the construction of the planned Oyu Tolgoi mining complex in southern Mongolia.

Molybdenum Companies Publish First Quarter Results

While rising Molybdenum prices have helped the revenues of most all molybdenum mining companies, new projects and other miscellaneous costs have hampered first quarter profits. As the results for Q1 come in, which companies have capitalized on rising demand for moly? Also, an update for the merger between Quadra Mining and FNX Mining.