Minesite Newsletter 13th May 2013

Minesite Weekly Roundup 7th - 13th May 2013 Dear Minesite subscriber, Weekly Review Markets are cyclical, to coin a hoary old phrase. What does this mean? One interpretation of recent trends might be to say that when mining is in, other sectors are out. Or to flip it round, when other sectors are in - as they are now, with the FTSE and the Dow Jones still powering ahead - mining is out. But, as is now beginning to be recognised, mining hasn't done itself any favours. To coin another hoary old phrase, the miners failed to fix the roof when the sun was shining. And it has shone a lot over the past decade or so, even allowing for the storms in 2007/8. Instead, producers across the board went for growth at the expense of returns - from the catastrophic aluminium acquisitions of Rio Tinto and the crazy headlong expansions of Barrick at the top of the scale, down to the mispriced acquisitions of Gem Diamonds and the dubious deals of Cambridge Mineral Resources at the lower end of the market. Meantime, explorers continued to rely on diluting shareholder equity in order to keep the rigs turning, on the premise that markets would continue to go up and wipe out the effects of the dilution. For a few, like Petra Diamonds and Pan African Resources, the focus on growth has paid off. But for most, it's now a busted flush, and a large number of Aim listed miners are now trading at a fraction of their listing prices. Who will buy into a gold or an iron ore growth story now, in the full knowledge that heavy dilution will follow, sure as night follows day, before too long? In a flat-to-falling market, it's a clear "no sale". As for the producers, they are now scrambling to catch up to reality, desperately presenting themselves as likely dividend payers and deliverers of solid returns, when less than eighteen months ago the familiar refrain from mining company directors was that they, rather than shareholders, knew where company money could best be spent. The volte face was long overdue. But there's more work to be done yet by those in the industry interested in regaining a modicum of credibility. A quick chat to Minesite journalists couldn't hurt for a start, in terms of getting the message out. Because investors need now to believe they'll get something back. Crack that nut, and the money might just start to flow back into the sector. 94th Minesite Forum 23rd May 2013 Sponsored by 94th Minesite Forum  Thursday 23rd May 2013 The Brewery Chiswell Street  London  EC1Y 4SD (Nearest stations are Moorgate and Liverpool Street) Presenting Companies Include: Condor Gold Fox Marble Mining Investments Resources Besra Gold Click Here to register or contact 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.  Jobs4mining in association with Minesite.com Advertise a job on www.jobs4mining.com  contact us Some of the interesting and strategic jobs recently posted might indicate a positive outlook for the industry. Engineering Manager (Mechanical/Electrical) - Tanzania Interim Role: Financial Analyst – UK Accounting Qualified  - Strong Business Analysis - London Strategic Senior Role - Project Development/Metallurgical Manager – Sierra Leone Environmental Sustainability Specialist To Join Team In Canada Regional COO – The Americas/Spanish Speaking.  Alluvial Large Plant/Construction Experience Vice-President – Health & Safety – Ontario, Canada General Manager, Operations – CIS – Lead A Team Of Specialists In Production Planning & Start Up Regional Director, Gold Exploration – Nevada USA Latest News News: May 13, 2013 Two Basic Rules Of Economics Underpin The Emerging Signs Of Global Growth News: May 11, 2013 That Was The Week That Was … In London News: May 11, 2013 That Was The Week That Was … In Australia News: May 10, 2013 That Was The Week That Was … In Canada News: May 10, 2013 Petra Diamonds Marches Steadily On Towards A 2019 Production Goal Of Five Million Carats Per Year News: May 09, 2013 Case Studies In Survival: Orosur Mining And Formation Metals Cut Their Cloth According To Prevailing Market Conditions News: May 09, 2013 Colin Sutherland Sets Out His Stall As The New Man In Charge At Archipelago Resources News: May 09, 2013 The View From Vancouver: Pelangio, Patagonia, Serabi, Kenai, Afferro, and Aureus News: May 09, 2013 Richland Resources Agrees Terms With The Tanzanian Government, And Now Needs To Turn Its Thoughts Towards Delivering Growth News: May 08, 2013 The Permits Begin To Come Through For Amara's Sega Project, Setting The Stage For Increased Gold Production Next Year News: May 08, 2013 Stablemates Afferro Mining And Aureus Mining Are Now Travelling Very Different Paths News: May 08, 2013 Following Record Quarterly Production, Perseus Mining Eyes Expansion Into Côte d'Ivoire News: May 08, 2013 Horizonte Will Shortly Push The Button On A Pre-Feasibility Study At Araguaia, To Be Completed By The End Of The Year News: May 07, 2013 Coal of Africa's Four-Point Fightback Plan News: May 07, 2013 Serabi's Acquisition Of Kenai Resources Could Add Post-Tax Cash Flow Of US$10 Million A Year To Projected Output From Palito News: May 07, 2013 Kirkland Lake Gold Targets Production Of Between 150,000 And 180,000 Ounces This Year, Now That Its Hoisting Issues Are Behind It News: May 06, 2013 Where To Invest In A World In Which Comedians Are Growing In Power Press Releases May 13, 2013 - Archipelago Resources Plc Notice of General Meeting May 13, 2013 - Bullabulling Gold Limited Bullabulling Resource Upgrade 13-May-2013 May 13, 2013 - Caledonia Mining Corp Q1 2013 Results and Confirmation of AGM Date  May 13, 2013 - Mwana Africa plc Positive Met Study Results for Zani-Kodo  May 13, 2013 - Afferro Mining Inc. Update on discussions with IMIC May 13, 2013 - Alkane Resources Ltd Company Insight MD on Momentum with... May 10, 2013 - SolGold Plc Appointment of CEO  May 10, 2013 - Amara Mining Plc FILING OF YAOURE TECHNICAL REPORT May 10, 2013 - Connemara Mining Company Plc High Court Ruling May 10, 2013 - Central Asia Metals Plc Price Monitoring Extension  May 09, 2013 - Tertiary Minerals Plc MB Fluorspar Project - Update May 09, 2013 - Minera IRL Ltd Patagonia Exploration Results May 09, 2013 - Aureus Mining Inc Publication of Q1 2013 Results  May 08, 2013 - Carpathian Gold Inc Carpathian Announces Results of Voting and... May 08, 2013 - Afferro Mining Inc. Notice of Annual & Special Meeting of... May 08, 2013 - Cluff Natural Resources Appointment of Chief Financial Officer May 08, 2013 - Sovereign Mines of Africa Start of third phase drilling at... May 08, 2013 - Petra Diamonds Limited Interim Management Statement May 08, 2013 - Beowulf Mining Plc Operational Update May 07, 2013 - London Mining Plc NVITATION TO Q1 2013 PRODUCTION REPORT AND... May 07, 2013 - Pelangio Exploration Pelangio Exploration Announces Maiden... May 07, 2013 - First Majestic Silver Corp First Quarter Financial Results to Be... May 07, 2013 - Archipelago Resources Plc Directorate Change  May 07, 2013 - Patagonia Gold Progress update  May 07, 2013 - Afferro Mining Inc. Maiden Mineral Resource Statement For Ntem  May 07, 2013 - Aureus Mining Inc BALL MILL ORDER FOR THE NEW LIBERTY GOLD... May 07, 2013 - Stratex International Plc AGM Statement May 07, 2013 - Firestone Diamonds Plc Results of Diamond Tenders May 07, 2013 - Crusader Resources Ltd CAS Acquires Key Ground to Extend... May 07, 2013 - Centaurus Metals Limited Candonga Iron Ore Project - Positive... May 07, 2013 - Serabi Gold Plc Serabi Gold and Kenai Resources announce... May 07, 2013 - Endeavour Mining Corporation Endeavour Mining to release Q1 results on... May 07, 2013 - Northland Resources S.A. Northland Launches USD 362 million Bond... Don't forget to visit our other website

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