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Chase Bank Limits Cash Withdrawals, Bans International... Before you read this report, remember to sign up to http://pennystockpaycheck.com for 100% free stock alerts Chase Bank has moved to limit cash withdrawals while banning business customers from sending...

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Richemont chairman Johann Rupert to take 'grey gap... Billionaire 62-year-old to take 12 months off from Cartier and Montblanc luxury goods groupRichemont's chairman and founder Johann Rupert is to take a year off from September, leaving management of the...

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Cambodia: aftermath of fatal shoe factory collapse... Workers clear rubble following the collapse of a shoe factory in Kampong Speu, Cambodia, on Thursday

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Spate of recent shock departures by 50-something CEOs While the rising financial rewards of running a modern multinational have been well publicised, executive recruiters say the pressures of the job have also been ratcheted upOn approaching his 60th birthday...

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UK Uncut loses legal challenge over Goldman Sachs tax... While judge agreed the deal was 'not a glorious episode in the history of the Revenue', he ruled it was not unlawfulCampaign group UK Uncut Legal Action has lost its high court challenge over the legality...

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Lake Shore Gold Reports First Quarter 2013 Results

Category : Stocks

TORONTO, ONTARIO–(Marketwired – May 14, 2013) - Lake Shore Gold Corp. (TSX:LSG)(NYSE Amex:LSG)(NYSE MKT:LSG) (“Lake Shore Gold” or the “Company”) today announced financial and operating results for the first quarter of 2013. As previously announced, gold produced during the first quarter 2013 totaled 23,200 ounces from milling 197,640 tonnes at an average grade of 3.8 grams per tonne. The Company sold 26,100 ounces during the first quarter 2013 at an average price of US$1,630 per ounce.

The rest is here: Lake Shore Gold Reports First Quarter 2013 Results

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Orofino Gold Corp (ORFG: OTC Pink Current) | Orofino Gold Corp: The Company targets improved State of the Art Gold Recovery Systems

Category : Stocks, World News

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Orofino Gold Corp: The Company targets improved State of the Art Gold Recovery Systems

PR Newswire

LAS VEGAS, May 10, 2013

LAS VEGAS, May 10, 2013 /PRNewswire/ – Orofino Gold Corp. (PINK OTC: ORFG)
(“Orofino Gold” or the “Company”) is pleased to announce that it has
Gold development projects in Colombia, a current hot spot for large
Gold/Copper porphyry systems, with the occurrence of the very high
grade gold vein systems in the central part of the Senderos de Oro
project and with many small scale grinding and amalgamation mills
in-place.

Orofino Gold is planning to design a central processing and recovery
facility that is modular in design and will be capable of processing
enough high grade material to produce up to100, 000 ounces of gold
annually while the Company continues to explore further the potential
Primary Porphyry target.

The company has reviewed several engineering and design firms with gold
production design facilities, fabrication, and operational expertise
and is reviewing a short list prior to engaging the design team.
Orofino intends to continue the relationships currently enjoyed with
government agencies, the local communities, as well as current
production teams and will involve these groups in all major processing
and production planning decisions.

Forward-Looking Statements

These statements are not guarantees of future performance and involve
certain risks and uncertainties that are difficult to predict. Actual
results could vary materially from the description contained herein due
to many risk factors that affect the industry the Company operates in
and other risk factors listed from time to time in the Company’s
Securities and Exchange Commission (SEC) filings under “risk factors”
and elsewhere. The forward-looking statements contained in this press
release speak only as of the date on which they are made, and the
Company does not undertake any obligation to update any forward-looking
statement to reflect events or circumstances after the date of this
press release.

SOURCE Orofino Gold Corp.

Visit link: Orofino Gold Corp (ORFG: OTC Pink Current) | Orofino Gold Corp: The Company targets improved State of the Art Gold Recovery Systems

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U.S. Silver & Gold Inc. (USGIF: OTCQX International) | First Quarter Production Results and Corporate Update

Category : World News

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First Quarter Production Results and Corporate Update

PR Newswire

TORONTO, April 24, 2013

TORONTO, April 24, 2013 /PRNewswire/ – U.S. Silver & Gold Inc. (TSX: USA)
(OTCQX: USGIF) (“U.S. Silver & Gold” or the “Company”) today announced
production figures for its two 100% owned operating mines, the
high-grade silver Galena Mine Complex in Idaho and the high-grade gold
and silver Drumlummon Mine in Montana.

First Quarter Highlights

  • Consolidated production of 598,139 silver ounces and 2,161 gold ounces
    during the first quarter, which was budgeted to be the lowest
    production and highest cost quarter of the year.
  • Galena Mine Complex production of approximately 577,000 silver ounces at
    cash costs of $20.48 per ounce.
  • Management has taken immediate measures to reduce and manage costs, and
    has implemented further productivity measures to protect the balance
    sheet:
    • a total of $10 million in exploration, capital projects and development
      will be cut from the 2013 budget;
    • a further $1 million in savings will be achieved by reducing general and
      administrative costs at the corporate office and the Galena Mine
      Complex;
    • capital development resources will be re-deployed to profitable mining
      areas; and
    • mining in the Caladay Zone will be fast-tracked to commence in the third
      quarter of the year.

  • Given the recent decline in silver and gold prices, production at the
    Drumlummon Mine will be discontinued at the end of the second quarter
    when the mine will be put on care and maintenance.
  • As a result of the Drumlummon closure and cost initiatives, silver
    production for the year has been re-forecasted to 2.6 to 3.0 million
    ounces (from 2.7 to 3.0 million ounces), at lower projected silver cash
    costs of $16.00 to $18.00 per ounce.
  • The March 31, 2013 cash balance was approximately $11 million. Non-cash
    working capital was approximately $8.7 million exclusive of $7.9
    million
    in debt. The Company is currently in discussions with various
    lenders to re-finance the debt on more favourable terms.
  • Full quarterly results and further details on cost reductions will be
    communicated to shareholders during the first quarter earnings release
    and conference call scheduled for Monday May 13, 2013.
  • Galena First Quarter Production Details

    The Galena Mine produced 577,095 ounces of silver during the first
    quarter of 2013 at a grade of 9.6 ounces per ton and silver cash costs
    of $20.48 per ounce.

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    Diamcor Mining Inc. (DMIFF: OTCQX International) | Diamcor Announces Conversion of Convertible Debenture

    Category : World News

    KELOWNA, April 8, 2013 – Diamcor Mining Inc. (TSX-V.DMI) (the “Company”) is pleased to announce that pursuant to the terms of the $2,000,000 convertible debenture (“Convertible Debenture”), originally issued to its strategic alliance partner, Tiffany & Co. Canada (“Tiffany”), a subsidiary of Tiffany & Co., in March 2011, the Company has exercised its right to convert the principal and accrued interest into Company common shares.

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    Maginatics Unveils MagFS 2.0, the Next-Generation of Its Software-Defined Storage Platform

    Category : Stocks

    MagFS, the World’s First End-to-End Storage Virtualization Platform, Further Improves Performance, Resiliency and Manageability and Adds a Variety of New Enterprise-Grade Features

    Read more: Maginatics Unveils MagFS 2.0, the Next-Generation of Its Software-Defined Storage Platform

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    Abot Mining Co. (ABOT: OTC Pink Current) | ABOT Mining Announces the Production of the First Gold Doré Bar from Concentrates at its Silver Tailings Project and Provides Project Update

    Category : Stocks, World News

    ABOT Mining (Pink
    Sheets: ABOT.pk) is pleased to announce that the production of approximately
    5.65 kg of concentrates and its first dor

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    Pan American Goldfields Ltd. (MXOM: OTCQB) | Pan American Goldfields Ltd. Reports on Results of Metallurgical Testing and Updated Mineral Resource, Cieneguita Project, Mexico

    Category : Stocks, World News

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    Pan American Goldfields Ltd. Reports on Results of Metallurgical Testing and Updated Mineral Resource, Cieneguita Project, Mexico

    PR Newswire

    VANCOUVER, British Columbia, March 14, 2013

    VANCOUVER, British Columbia, March 14, 2013 /PRNewswire/ –

    Pan American Goldfields Ltd. (OTCQB: “MXOM”) (the “Company”) is pleased to report the results of a comprehensive metallurgical testing

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    Pan American Goldfields Ltd. (MXOM: OTCQB) | Pan American Goldfields Ltd. Reports on Results of Metallurgical Testing and Updated Mineral Resource, Cieneguita Project, Mexico

    Category : Stocks, World News

    < ?xml version="1.0" encoding="UTF-8"?>

    Pan American Goldfields Ltd. Reports on Results of Metallurgical Testing and Updated Mineral Resource, Cieneguita Project, Mexico

    PR Newswire

    VANCOUVER, British Columbia, March 14, 2013

    VANCOUVER, British Columbia, March 14, 2013 /PRNewswire/ –

    Pan American Goldfields Ltd. (OTCQB: “MXOM”) (the “Company”) is pleased to report the results of a comprehensive metallurgical testing

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    How Citi won the Fed’s stress test (and Goldman lost)

    Category : Business, Stocks

    Citigroup got a surprisingly good grade on the central bank’s annual review. Goldman just passed.

    Go here to see the original: How Citi won the Fed’s stress test (and Goldman lost)

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    Italy’s credit rating downgraded

    Category : Business

    Fitch says the lack of a stable government in Rome put’s the nation’s fragile economy at risk. The outlook is negative, but Italian debt is still investment grade.

    Read the original post: Italy’s credit rating downgraded

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