SILA,Gold American Mining Corp. (OTC BB: SILA.OB)
Digging In with Gusto – SILA knows that it�s what lies beneath that counts.
The precious metals exploration company is committed to the aggressive ongoing acquisition and exploration of holdings with rich gold and silver production potential. And with the demand for these metals having grown steadily, Gold American has entered into a $7.5 million equity financing agreement with a European institutional investment group that specializes in backing precious metals and mining ventures.
Gold American�s Keeno Strike Property, located 30 miles southwest of Las Vegas, has produced significant quantities of both gold and silver and also contains deposits of copper, cobalt, nickel, zinc, and lead. Located in a mining district that covers 245 acres of the historic Monte Cristo mine and Keeno-mint prospect, the area�s exploration will consist of testing a potential of 1.1 million ounces of gold and 69 million ounces of silver.
The company�s other current holding is the Guadalupe Property, located in central Mexico, in one of Mexico�s oldest mining districts. It lies just a few miles north of the world�s richest underground silver mines. This property contains two historic mines.. The Juanicipio Joint Venture, held by MAG Silver Corp. and Fresnillo plc.,,is only 6.8 miles to the southwest, and has an indicated resource average grade of 879 g/t of silver. That�s about twice the grade of Fresnillo�s other producing mines in the region, making the project�s Valdeca�as Vein one of the world�s highest grade undeveloped silver resources.
Will gold stocks increase with the price of gold?
Gold at the beginning of August was $1,210.00 per ounce.
As the Dollar devalues, the price of Gold is expected to rise even more. It has been fluctuating lately and looking for a direction, but at the same time it�s been moving higher. Gold has been the standard of value for all industrialized nations, in America it is our true dollar.
With the inevitable rise of value in a company that is in mining production, today could see their stock go anywhere, in this regard we are watching Gold American Mining Corp.
The Company has initiated a comprehensive exploration program for its Guadalupe property including magnetic and induced polarization surveys.
Finding better than expected results Gold American decided to increase the geophysics program to cover more areas of the property.
Projects
Latest News From Guadalupe Property: SILA - Announces Additional Positive Results From High-Grade Guadalupe Property
Gold American Mining Corp. (OTC.BB: SILA) (�Gold American� and/or �the Company�) is pleased to announce additional positive results from its Guadalupe property, located in the heart of the Fresnillo district, Zacatecas, Mexico.
Fieldwork continues to identify additional veins within the property � as such several veins remain without names. To date nine veins have been mapped within the Guadalupe property. In certain locations the width of sampling was limited by the size of the workings and as such the true width of mineralization remains unknown.
�The fast pace of exploration achieved on the property since we started operations in late April has expanded considerably our knowledge of the property and reaffirmed our intentions to drill its main objectives,� said Johannes Petersen, President of Gold American. �We are very excited with our findings to date.
As soon as we receive the final report and maps of the recently completed geophysics campaign we will be able to finalize the design of the drilling program and initiate the permitting process with a view at commencing drilling before the end of the year,� added Mr. Petersen.
THE GUADALUPE PROPERTY
The Guadalupe property contains two historically significant mines and is located in one of Mexico�s oldest mining districts, roughly 5 miles north of the Fresnillo (Proa�o) Mine, the world�s richest underground silver mine, operated by Fresnillo plc. Roughly 6.8 miles to the southwest of Silver America�s Guadalupe Property is the Juanicipio Joint Venture (JV) between MAG Silver Corp. (MAG) and Fresnillo plc, which is known as one of the world�s highest grade undeveloped silver resources.
The Property contains greater than 20 known workings as well as two historic mines � Santa Rita and San Antonio. Historic records containing references to the Santa Rita and San Antonio mines suggest that both mines were important and reached their height of production between 1910 and 1920 but were last in production in the 1980s. The property is completely surrounded by land controlled by Pe�oles (either through Fresnillo or other subsidiaries and partners).
ABOUT GOLD AMERICAN MINING CORP.
Gold American Mining Corp. is a publicly traded (OTC.BB:SILA) precious metals exploration company focused on the aggressive, ongoing acquisition and exploration of holdings with rich gold and silver production potential. Based in Reno, Nevada, Gold American has developed a promising portfolio of international properties in regions marked by stable politics, sound economies and friendly business relations. For more information the Company and its projects, visit Gold American�s website at
www.gold-american.com
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Barrick Reports Q2 2010 Financial and Operating Results
Barrick Gold Corporation (NYSE: ABX)(TSX: ABX)
Based on US GAAP and expressed in US dollars
For a full explanation of results, the Financial Statements and Management Discussion & Analysis, and mine statistics please see the Company�s website.
Reported Q2 net income rose 59% to a record $783 million ($0.79 per share).
Adjusted Q2 net income rose 76% to $759 million ($0.77 per share)(1) compared to $431 million ($0.49 per share) in Q2 2009. Operating cash flow rose 42% to $1.02 billion from $718 million in the prior year period and exceeded $2 billion in the first half of 2010.
Q2 gold production of 1.94 million ounces at total cash costs of $457 per ounce(1) or net cash costs of $358 per ounce(1), was ahead of plan on strong performance from the North and South America regions.
Barrick remains on track with its original full year production guidance of 7.6-8.0 million ounces at total cash costs of $425-$455 per ounce or net cash costs of $345-$375 per ounce(2).
Barrick Gold Corporation primarily engages in the production and sale of gold, as well as related activities such as exploration and mine development worldwide. The company has a portfolio of 26 operating mines and a pipeline of projects located across various continents, including North America, South America, Australia, and Africa.
It also produces copper and holds interests in oil and gas properties located in Canada. In addition, its products include copper cathode, silver, nickel, and platinum. The company was founded in 1983 and is based in Toronto, Canada.
http://www.barrick.com
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Agrium and AWB Enter Into Definitive Agreement
Agrium Inc. (TSX: AGU) (NYSE: AGU) (�Agrium�) announced this week that it has entered into a definitive agreement (the �Agrium Agreement�) with AWB Limited (�AWB�) to acquire all the shares of AWB at a price of A$1.50 per share.
�The combination of Agrium and AWB provides significant strategic and financial benefits to a wide array of stakeholders. We are particularly excited about the future of working with AWB employees to reinvest in the business and bring a greater choice of products and services to AWB�s grower customer base,� stated Agrium President and CEO Mike Wilson.
AWB has advised Agrium that its Board considers the Agrium proposal superior to the proposed merger with GrainCorp Limited. Under AWB�s existing agreement with GrainCorp, AWB is required to provide three clear days notice to GrainCorp before changing or withdrawing their recommendation. The waiting period expires Monday (Calgary time) and Agrium anticipates that AWB will recommend the Agrium transaction at that time.
The Agrium transaction is currently envisaged to be executed via a Scheme of Arrangement and is subject to the conditions precedent typically included in transactions of this type.
AWB currently has 817,304,356 shares and 7,043,858 performance rights issued which the Agrium Agreement is based upon, resulting in a purchase price of A$1.237-billion.
AWB is a company listed on the Australian Securities Exchange (ASX) which is available at the ASX website www.asx.com.
Agrium Inc. is a major retail supplier of agricultural products and services in both North and South America and a leading global producer and marketer of agricultural nutrients and industrial products. Agrium produces and markets three primary groups of nutrients: nitrogen, phosphate and potash as well as controlled release fertilizers and micronutrients.
Agrium�s strategy is to grow through incremental expansion of its existing operations and acquisitions as well as the development, commercialization and marketing of new products and international opportunities.
www.agrium.com
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