Mwana Africa makes progress on cutting costs

Mwana Africa (LON:MWA) made steady progress at its gold, nickel and diamond producing assets in the first quarter of 2015.

At the Freda Rebecca gold mine in Zimbabwe, gold production increased quarter-on-quarter by 0.42% to 14,358 ounces, as the recovery rate increased to 83% from 78%.

The need to work through low-grade zones as development moved towards new high-grade and main stopes persisted, however, revealed Kalaa Mpinga, chief executive officer of Mwana.

Tonnes milled decreased by 8% to 297,953 tonnes (t) as mill throughput and running time both reduced by 4%.

The average gold price received rose to US$1,222 an ounce from $1,195 an ounce in the previous quarter, while the all-in sustaining cost at the mine improved by 4% to US$1,254 an ounce from US$1,304 an ounce.

“The focus remains on further curtailing of costs and grade control as mining moves increasingly into the higher-grade stopes,” said Mpinga.

At the Trojan nickel mine, also in Zimbabwe, sales of nickel in concentrate rose by 49% quarter-on-quarter to 2,072 tonnes, but mill throughput fell to 140,045 tonnes as production was constrained by a temporary host breakdown, subsequently resolved.

The average price received for metal in concentrates was US$9,489 a tonne, down from US$10,313 in the previous quarter.

All-in sustaining costs reduced significantly by 36.5% to US$7,293 per tonne of contained nickel as greater nickel production contributed to lower unit costs.

Meanwhile, work on the re-start of the Bindura smelter in Zimbabwe continued during the quarter, with major components either delivered in the quarter or expected to be delivered this quarter.

On the diamonds front, the Klipspringer asset in South Africa saw recovery from Marsfontein fine residue (50% of which is attributable to Mwana) tumble to 17,781 carats from 31,850 carats, with the processing of residues hampered by the need to beef up security after an armed robbery in January.

The average sale price achieved in the quarter rose to US$19.50 a carat from US$19.31 in the preceding quarter.”The past quarter has been a period of significant progress across our existing operations and new projects and we are working steadily towards major near-term developments in Zimbabwe and South Africa,” said Kalaa Mpinga.

The CEO added that there remain challenges ahead, “but with our newly refreshed board now in place, and the results of our comprehensive cost control programme beginning to bear fruit, Mwana is well positioned to deliver positive results.”

Shares in Mwana Africa were off 1.7% at 1.75p in the first half hour of trading. @MasterMetals MasterMetals Blog

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American Creek Resources Closes First Tranche of Financing

CARDSTON, ALBERTA–(Marketwired – April 15, 2015) – American Creek Resources Ltd. (TSX VENTURE:AMK) (the “Corporation”) today announced that it has closed the first tranche of the non-brokered private placement (“the Offering”) that was previously announced on March 24, 2015. A total of 5,999,966 units (“Units”) were subscribed for at a price of $0.06 per Unit for gross proceeds of $359,998. Each Unit consists of one common share of the Corporation (“Common Share”) and one non-transferrable Common Share purchase warrant (“Warrant”). Each Warrant may be exercised for one additional Common Share for a period of 24 months from the closing date at a price of $0.08 per share if exercised in the first 12 months and $0.10 per share if exercised in the remaining 12 month period, provided that the Warrants will expire if not exercised within 15 business days from receipt by the holder of written notice that the trading price of the Common Shares has exceeded $0.12 for 10 consecutive trading days. @MasterMetals MasterMetals Blog @MasterMetals MasterMetals Blog

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UGE International Leverages Recently Announced Solar PPA Facility to Supply Solar Energy System for Redwood Group

20-Year Power Purchase Agreement to Provide Affordable Solar Electricity to Logistics Facility at No Upfront Capital Cost @MasterMetals MasterMetals Blog @MasterMetals MasterMetals Blog

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Pure Energy unterzeichnet Absichtserklärung zur deutlichen Erweiterung seiner Liegenschaften in Clayton Valley (Nevada)

VANCOUVER, BC–(Marketwired – Apr 15, 2015) – Pure Energy Minerals Limited ( TSX VENTURE : PE ) ( FRANKFURT : A111EG ) ( OTC : HMGLF ) (das “Unternehmen” oder “Pure Energy“) veröffentlicht aktualisierte Informationen zur laufenden Projektentwicklung. Das Unternehmen hat eine verbindliche Absichtserklärung (Letter of Intent – LOI) mit Nevada Alaska Minerals Ltd. (“Nevada Alaska”), einem in Nevada ansässigen Privatunternehmen, unterzeichnet, wonach es ca. 1033 Hektar Claims (die “Claims”) mit sekundären Mineralanreicherungen (Seifen) erwerben und dem bestehenden Lithiumsolen-Projekt in Clayton Valley im US-Bundesstaat Nevada hinzuzufügen möchte. @MasterMetals MasterMetals Blog @MasterMetals MasterMetals Blog

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Black Diamond Group Limited Amends Advance Notice By-Law

CALGARY, ALBERTA–(Marketwired – April 15, 2015) – Black Diamond Group Limited (“Black Diamond”) (TSX:BDI), a leading provider of workforce accommodation and modular workspace solutions, today announced that its board of directors has approved an amendment to its advance notice by-law (“By-law No. 2”). @MasterMetals MasterMetals Blog @MasterMetals MasterMetals Blog

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Atico Reports Consolidated Financial Results for 2014

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MCW Energy Group Announces Director Change

TORONTO, ONTARIO–(Marketwired – April 15, 2015) – MCW Energy Group Limited (“MCW“) (TSX VENTURE:MCW)(OTCQX:MCWEF), a Canadian holding company involved in the creation of oil sands extraction technology, through MCW Oil Sands Recovery, LLC, is pleased to announce that Robert Dennewald has joined the board of directors of MCW to replace Igor Sosnovskiy who has resigned to focus on other business responsibilities. @MasterMetals MasterMetals Blog @MasterMetals MasterMetals Blog

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