Minesite Newsletter 22nd April 2013

Minesite Weekly Roundup 14th - 22nd April 2013 Dear Minesite subscriber, Weekly Review If you're feeling a bit battered after last week's rout in the gold and precious metals space, spare a thought for John Paulsen, who reportedly dropped US$1 billion. Commentators on Bloomberg pointed out that in a sense Paulsen was a sitting duck, having set up a gold-only fund. When the short squeeze that was initiated on the Merrill Lynch trading floors gathered momentum, and snowballed into the monumental selling on Comex as described so vividly on our pages by Sharps Pixley's Ross Norman this week, Paulsen had nowhere else to go. So how much of a pinch of salt should we take with arguments coming out of the Paulsen camp that he remains bullish on gold? It's worth noting, if only because, as Ross Norman also pointed out, physical demand surged as paper-backed trading drove down the price. There is plenty of actual demand for the metal out there at these prices, particularly in India, where the wedding season is getting underway. Of course, the Indians wouldn't mind paying still less for their gold, but Paulsen isn't the only one holding the bullish line. Blackrock's Evy Hambro was reportedly a buyer on the latest price drop, although given the negative comments he made about the miners themselves at the beginning of the year, it's a fair bet that his falling knife exercise didn't stretch as far as the mining equities themselves. But could it be that this is actually now where the real value is? Hard to say when volatility is really the order of the day and, taking the newly fashionable metric of all-in costs, many gold miners are now not so far away from being marginal producers. A company like Amara, which as we reported last week, has just turned an essentially valueless project into a potentially viable two million ounce resource, has dropped by almost 75 per cent in value in the past couple of years. Nevertheless, at the current 30p it's still trading at three times its five year low, hit during the worst of the depredations of the global financial crisis back in 2008. Certainly, past performance is no guide to the future. But what is? Is Amara good value now? Probably, but it could be that investors will want to wait and see if it becomes even better value over the summer, when appetite for gold could weaken still further. That's the bind the gold juniors face. But anyone who really wants to do a bit of bottom-fishing should look a lot further up the value chain. Barrick is trading at 20-year lows. Should the price of the world's second biggest gold miner really be that low? You decide. 93rd Minesite Forum - Wednesday 20th March 2013 Sponsored by 93rd Minesite Forum  Wednesday 20th March 2013  *** NEW VENUE *** The Brewery Chiswell Street  London  EC1Y 4SD (Nearest stations are Moorgate and Liverpool Street) Presenting Companies Include: Fox Marble Connemara Mining Botswana Diamonds Oracle Coalfields To register click here or contact support@minesite.com  If you are interested in Speaking or Sponsoring a Minesite event  please contact; Sophie Barrowman - sophie.barrowman@minesite.com T: 02075623362 Our forums (which are FREE to attend) enable investors to hear directly from mining and exploration company executives, and to ask questions before they invest.  Master Investor 2013 - Register Now Master Investor, now in its eleventh year, is the UK's leading investment show and is to be held on Saturday April 27th at the superb Business Design Centre in London. This year's show builds on the success of previous years but boasts some big changes aimed at offering a wider focus with bigger opportunities. The show features a new "Rising Stars" stage hosted by Richard Reed that will be dedicated to highlighting and supporting innovative, unquoted companies that are often more difficult for the private investor to access. The line-up of guest speakers is the strongest yet with names such as Jim Mellon, Merryn Somerset Webb, Tim Price and James Ferguson already confirmed.  Tickets are priced at just £5 for a limited time only (normal price £20) and are selling fast. To find out more information and to book your ticket please register here! Jobs4mining in association with Minesite.com Mining and Quarrying Conference – Muscat, Oman 26 – 29 May.  How to utilise new technologies, procure state-of-the-art equipment and implement efficient strategies to optimise productivity in mining and quarrying projects.  Find out more New jobs at www.jobs4.mining.com  To advertise your job contact sales@jobs4mining.com Mining Engineer – Performance Improvement – Siberia Jobs4mining has been busy this week marketing some unusual mining related jobs in IT, HR, Communications and combined technical skills.  With our selection criteria, you can view jobs that suit your skills easily on www.jobs4mining.com  To advertise contact us at sales@jobs4mining.com People And Culture Superintendent – HR Communications Experience - Suriname Senior Business Analyst With BABOK Experience - Ontario Technical Services Manager . Strong Operational Production Background - Suriname CEO – Madagascar.  Requires Experience Of Gemstones And Working French Is An Advantage Learning & Development Manager – Sierra Leone Underground Planning Engineer For Copper Project In Central Africa. Metallurgy Technical Services Superintendent – Copper Gold - Laos Group Head Of Investor Relations - UK Latest News News: April 22, 2013 Silver Bear Resources Cues Up The Mangazeisky Silver Project For Production Within Two Years, And An Aim Listing For Within Six Months News: April 22, 2013 West African Minerals Takes Another Step Forward On Its South Djadom Iron Ore Project In Cameroon News: April 22, 2013 China And The IMF Are The Excuse For The Commodities Sell-Off, But Investors Are Simply Raising Cash To Switch Into Equities And Bonds News: April 21, 2013 That Was The Week That Was ... In London News: April 19, 2013 That Was The Week That Was ... In Australia News: April 19, 2013 That Was The Week That Was … In Canada News: April 18, 2013 The View From Vancouver: EMED, First Majestic, IMIC, And Afferro News: April 18, 2013 While Paper Gold Crashes, Physical Demand Sees Unprecedented Demand News: April 18, 2013 First Majestic's Del Toro Silver Project Achieves Commercial Production In Double-Quick Time News: April 17, 2013 Thor Mining's Molyhil Tungsten Project Remains Economic, In Spite Of Recent Weakness In Commodities Prices News: April 17, 2013 Focus Ventures Will Shortly Begin Drilling At The Santa Cruz Silver Project In Mexico, But Even Bigger Upside Lurks At The Aurora Copper Porphyry In Peru News: April 16, 2013 Amara Proves Up Two Million Ounces Of Gold At Yaoure, And There's Still Room For Further Growth News: April 16, 2013 Mining Investment Resources Closes In On The Acquisition Of The Primorsky Silver Mine In Russia News: April 15, 2013 Highland Gold Relishes The Prospect Of Working Up Its New Flagship Gold Project News: April 15, 2013 For The First Time In Ten Years The TSX And Venture Record No IPOs In The First Quarter News: April 15, 2013 Metals Markets Look Finely Balanced, As Chinese Growth Slows And Cyprus Emerges As A Possible Seller Of Gold News: April 13, 2013 That Was The Week That Was ... In London News: April 13, 2013 That Was The Week That Was … In Australia   Press releases April 19, 2013 - Toledo Mining Corp Plc Exercise of Options - Director Dealing  April 19, 2013 - Bezant Resources Plc Update re Return of Capital and New GM  April 19, 2013 - Evolution Mining Quarterly Results Conference Call April 19, 2013 - Perseus Mining Ltd March 2013 Quarterly Activity Report April 19, 2013 - London Mining Plc 2012 ANNUAL REPORT & ACCOUNTS & NOTICE OF... April 18, 2013 - Great Panther Silver Limited Great Panther Silver Announces 2013 First... April 18, 2013 - Toro Gold Limited Mako Project, Eastern Senegal Completion... April 18, 2013 - Caledonia Mining Corp Change of Adviser April 18, 2013 - Mwana Africa plc First Shipment of Concentrate from Trojan  April 18, 2013 - Bullabulling Gold Limited Entitlements Offer Acceptances - 18-Apr-13 April 18, 2013 - Stratex International Plc Inlice Update - Sale Proceeds Received  April 18, 2013 - Alkane Resources Ltd Annual Report 2012 April 18, 2013 - Continental Coal Ltd Mashala Resources Acquisition Completed  April 17, 2013 - First Majestic Silver Corp First Majestic Earns Socially Responsible... April 17, 2013 - EMED Mining Quarterly Operational Update  April 17, 2013 - Caledonia Mining Corp Restoration - Caledonia Mining Corporation April 17, 2013 - Oracle Coalfields PLC Final Results April 17, 2013 - Perseus Mining Ltd Conference Call Quarterly Results April 17, 2013 - Ormonde Mining Plc Final Results  April 17, 2013 - Toledo Mining Corp Plc Notification of Major Interest in Shares  April 17, 2013 - Toledo Mining Corp Plc Extension of Closing Date  April 17, 2013 - CoAL of Africa Ltd Appointment of Finance Director April 17, 2013 - Afferro Mining Inc. Update on Discussions with Afferro April 17, 2013 - Sandfire Resources Sandfire March 2013 Quarterly Report April 16, 2013 - West African Minerals Corporation Latest assay results from South Djadom April 16, 2013 - Highland Gold Mining Ltd Project Update April 16, 2013 - EMED Mining Tailings Project Update  April 16, 2013 - Caledonia Mining Corp Temporary Suspension April 16, 2013 - Resolute Mining Ltd Change in substantial holding for VKA April 16, 2013 - Marengo Mining Limited Private Placement of Convertible... April 15, 2013 - Great Panther Silver Limited Great Panther Silver Reports First Quarter... April 15, 2013 - First Majestic Silver Corp First Majestic Produces Another Quarterly... April 15, 2013 - Zincox Resources Plc Working Capital Facility April 15, 2013 - Condor Gold Plc Drilling Update April 15, 2013 - EMED Mining Permitting Update  April 15, 2013 - Caledonia Mining Corp Directorate Change  April 15, 2013 - Stratex International Plc Directors Share Purchase  April 15, 2013 - Northland Resources S.A. Northland Pays the Interest to its... April 15, 2013 - Toledo Mining Corp Plc Director Remuneration Disclosure  April 12, 2013 - Caledonia Mining Corp Exercise of Options April 12, 2013 - Kefi Minerals Plc Exploration Update  April 12, 2013 - Resolute Mining Ltd Malian Mining Industry Humanitarian Aid... April 12, 2013 - Centaurus Metals Limited Resignation of Non-Executive Director -... April 12, 2013 - CoAL of Africa Ltd Transnet Freight Rail confirm re-opening... April 12, 2013 - Northland Resources S.A. Northland Provides Default Status Update April 11, 2013 - Volta Resources Inc. Volta Resources Highlights Multiple Gold... April 11, 2013 - Jubilee Platinum Plc PRO FORMA FINANCIAL EFFECTS April 11, 2013 - Enegi Oil Update on Western Newfoundland  April 11, 2013 - Orosur Mining Inc Announces Third Quarter Results of... April 11, 2013 - CoAL of Africa Ltd Matola Corridor Derailment update April 11, 2013 - Botswana Diamonds Plc Option agreement on prospecting licence April 11, 2013 - Griffin Mining Ltd PRELIMINARY RESULTS  April 11, 2013 - Bullabulling Gold Limited BAB Further high grade results Gryphon and... April 11, 2013 - Evolution Mining Official opening of Mt Carlton Mine by... April 11, 2013 - Alkane Resources Ltd Definitive Feasibility Study confirms... April 11, 2013 - Latin Resources Limited Ilo Norte ready to drill April 11, 2013 - Endeavour Mining Corporation Endeavour Mining Announces Mali... April 10, 2013 - Amara Mining Plc Directors' Dealings April 10, 2013 - Pacific North West Capital Corp Pacific North West Capital Reports... April 10, 2013 - Centamin Plc Director Dealing April 10, 2013 - Kibo Mining Plc Kibo commences program on Haneti Nickel  April 10, 2013 - Ormonde Mining Plc Barruecopardo Permitting Update April 10, 2013 - Thor Mining Plc Spring Hill Toll Treatment MOU April 10, 2013 - Caledonia Mining Corp Q1 2013 Production Update  April 10, 2013 - Centaurus Metals Limited Canavial Project - Positive Drilling Results April 09, 2013 - First Majestic Silver Corp First Majestic Silver: Del Toro Silver... April 09, 2013 - Patagonia Gold Directorate Change April 09, 2013 - Toledo Mining Corp Plc Toledo Mining Corporation PLC:Notification... April 09, 2013 - Orosur Mining Inc Announces Update on Exploration Activities... April 09, 2013 - Amur Minerals Corp Profits Tax Reduction April 09, 2013 - Centamin Plc Q1 Preliminary Production Results April 08, 2013 - Stratex International Plc Notice of AGM April 08, 2013 - Ortac Resources Ltd Completion of Šturec Project... April 08, 2013 - Patagonia Gold Exercise of Options  April 08, 2013 - Patagonia Gold Directorate Change April 08, 2013 - Landore Resources Inc Drilling Update - Junior Lake Nickel Project April 05, 2013 - Centaurus Metals Limited Installation Licence Secured for Jambreiro... April 05, 2013 - Latin Resources Limited Option Entitlement Issue April 05, 2013 - URU Metals Limited Disposal of UrAmerica PLC and Appoints... April 05, 2013 - Mwana Africa plc Freda Rebecca Leach Tank Update April 05, 2013 - Goldplat Plc Significant shareholdings and Lock-In Deeds April 05, 2013 - ECR Minerals Plc FINANCING UPDATE  April 05, 2013 - Amara Mining Plc Price Monitoring Extension April 04, 2013 - PMI Gold Corp PMI Appoints Jim Askew as Chairman and... April 04, 2013 - Scorpio Mining Corporation Scorpio Mining Announces 2013 Exploration... April 04, 2013 - Caledonia Mining Corp Dividend Declaration April 03, 2013 - Afferro Mining Inc. Advance Notice Policy for Future... April 03, 2013 - Toledo Mining Corp Plc Notification of Major Interest in Shares  April 03, 2013 - Beowulf Mining Plc Upgraded JORC resource and operational... April 03, 2013 - Aureus Mining Inc Relocation & Community Development Plans... April 03, 2013 - Afferro Mining Inc. Publication of 2012 Results April 03, 2013 - Baobab Resources Plc Resource Upgrade at Tete April 02, 2013 - Toledo Mining Corp Plc Toledo Mining Corporation PLC  April 02, 2013 - Amara Mining Plc Directors' Dealings  April 02, 2013 - ECR Minerals Plc RESULT OF AGM AND STATEMENT April 02, 2013 - Endeavour Mining Corporation Endeavour Mining Appoints Ian Henderson to... April 02, 2013 - Jubilee Platinum Plc Restoration - Jubilee Platinum Plc  April 02, 2013 - Bullabulling Gold Limited Appointment of UK Broke April 02, 2013 - Focus Minerals Ltd Focus Reaches 98.9% Interest in Laverton April 02, 2013 - Orosur Mining Inc Strategy update and appointment of Interim... April 02, 2013 - Formation Metals Inc. Formation Metals Inc.'s Corporate Video... April 02, 2013 - Minera IRL Ltd Ollachea Exploration Results April 02, 2013 - Highland Gold Mining Ltd Acquisition April 02, 2013 - EMED Mining Exposure to Cyprus Bank Restructuring April 02, 2013 - SolGold Plc Capital Raising to Underpin Cascabel... April 02, 2013 - Toledo Mining Corp Plc Mandatory Cash Offer for Toledo Declar Don't forget to visit our other website

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