Gold Company News Directory

Scorpio Gold to Raise US$15 Million in Strategic Financing

Scorpio Gold (TSXV:SGN) has entered into a non-binding letter of intent with Coral Reef Capital LLC for a private placement to raise proceeds of US$15 million. Following the financing, it is anticipated that Coral Reef will hold 49.8 percent of Scorpio Gold's outstanding shares.

Goldsource Begins Construction at Eagle Mountain Gold Project

Goldsource Mines Inc. (TSXV:GXS,FWB:G5M) announced it has began construction at its Eagle Mountain gold project in Guyana, South America. The Phase I development will include a 1,000 tonnes per day open pit - gravity plant for am eight year life of mine with an estimated pre-production capital cost of US$5.9 million and an expected cash operating cost of US$480 per ounce of gold.

Algold Resources Assay Results: 57.2 g/t Gold from Legouessi

Algold Resources Ltd. (TSXV:ALG) reported assay Results including 57.2 g/t Au in rock chips and values of up to 7.3 g/t Au over two metres from its Legouessi property in Mauritania. Results have indicated that the gold mineralized system is present in numerous zones between Caracal holes NL03 and NL08 and has a northeasterly lateral extension of a minimum of 600 metres.

Bravada Gold Signs LOI with Goldspike Exploration for North Lone Mountain Property in Nevada

Bravada Gold Corporation (TSXV:BVA,FWB:BRT) signed a Letter of Intent with Goldspike Exploration Inc. for exploration on the North Lone Mountain property in Nevada. The agreement allows Goldspike to earn a 50% interest in the property by funding a work program of US$150,000 over two years, after which the companies will form a joint venture to further explore and develop the property. During the earn-in period, Bravada will be operator.

Richmont Mines COO Resigns

Richmont Mines Inc. (TSX:RIC,NYSEMKT:RIC) announced that President and CEO Renaud Adams will be overseeing operations and development currently underway at the Island Gold Mine in Ontario. This is due to the resignation of Chief Operating Officer Rosaire Emond effective March 6, 2015.

Greece Softens Stance on Eldorado Gold’s Mine Operations

Last than a month after the Greek government unequivocally stated its opposition to Eldorado Gold's (TSX:ELD) Skouries mine in the country, Reuters reported that Greece has said that it won't block the mine. However, the government will review permits for a processing plant at the site.