Wineco Productions Inc Tests Results Indicate Micron Processing Could Yield 3 Ounces of Gold per Ton and Goldcorp Recommends Rejection of Mini-Tender 31 August 2006
Gold & Metals industry news provided by Financial News USA (OTC: FNWU). Wineco Productions Inc. (OTC: WNCP) is negotiating a contract with Mineral Mountain Mining for tailings and water retention at Mineral Mountains mine. Wineco's testing of the tailings and surpluses from Mineral Mountain Mining resulted in significant shows of copper, chromium and gold. James Logan, Wineco's President commented, "Estimates of the tailings for processing could result in approximately 2-3 oz's of gold per ton which based on the recent closing of gold at $629.00 per ton could result in substantial revenues and earnings for the company." Coeur d'Alene Mines Corp. (NYSE:CDE), a silver and gold miner, on Friday said work in one part of its Kensington Gold mine near Juneau Alaska has been temporarily halted by the U.S. Ninth Circuit Court of Appeals in San Francisco. The injunction against construction activities in the mine's tailing facility, an operation that process waste from mining activities, was sought by the Southeast Alaska Conservation Council and the Sierra Club.
GOLDCORP INC. (TSX:G.TO)(NYSE:GG) announced that it has received a copy of an unsolicited below market "mini-tender" offer made by TRC Capital Corporation, pursuant to which TRC Capital has offered to purchase up to 3,000,000, or approximately 0.72 percent, of the outstanding common shares of Goldcorp. Goldcorp recommends that its shareholders reject this unsolicited offer. NovaGold Resources Inc. (TSX:NG.TO)(AMEX:NG) announced recently that it has filed a lawsuit against Barrick Gold Corporation (TSX:ABX.TO)(NYSE:ABX) in the United States District Court for the District of Alaska. The lawsuit alleges that Barrick has violated United States securities laws by making material misstatements with respect to Barrick's interest in NovaGold's Donlin Creek project in Alaska.
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