As announced in December 2016, junior miner Rockwell Diamonds signed an agreement to sell "none-core assets" - the Remhoogte and Saxendrift mines - to Nelesco Proprietary 318 for US$3.48 million (ZAR45m); it has now been completed.

The sale and purchase agreement also releases Rockwell from environmental and tax liabilities (rehabilitation liabilities) totalling US$5.40 million (R70m) as well as the transfer of 100 employees.


The first (US$1.53m) of three payments has been completed after the fulfillment of certain conditions, the second being the transfer of registration of the Saxendrift farm in the name of Nelesco, which is soon to be completed. The cash balance, the transfer of the Section 11 mineral properties, as well as the consent of the Takeover Regulation Panel of South Africa are to be the final payment.

Until then, all operations will be on a contract mining basis with a royalty payable to the Rockwell of 2.5% of revenue from diamonds recovered from properties covered by the transaction.Nelesco has in the meanwhile completed site establishment and commenced its mining operations.


At the time of the initial announcement of the sale in December, Tjaart Willemse, CEO of Rockwell Diamonds said, “This transaction represents a significant milestone in our repositioning plans for the ‘new Rockwell’. It not only brings in cash in addition to the recently announced funding by two of the key shareholders and a third party, but also disposes of non-core assets and associated liabilities.”


He now adds, "As regards our repositioning plan we are not in the home stretch yet, but we are on the move and gaining traction towards realizing the “new Rockwell” goals. Not only have we reduced our liabilities and earned some much needed cash, but we have recovered our operations and regained focus. We have a clear strategy, which is to get our Wouterspan Mine up to full production and to see first production from our new Stofdraai Mine by July."

Stellar Diamonds plc, the London listed diamond development company focused on West Africa, has signed an agreement to operate the Tonguma mine in Sierra Leone, adjacent to the company’s own Tongo mine.

Stellar Diamonds whose CEO Karl Smithson in 2015 said that then-explorer Stellar's application to mine at Tongo was the first company to apply for a large scale mining licence of any kind since the onset of the Ebola crisis - announced on 20 February 2017 that it no longer intends to acquire Tonguma Ltd and instead intends to enter into a Tribute Mining Agreement with Octea Mining, which would allow Stellar to mine the Tonguma licence area alongside Stellar’s own Tongo project in Sierra Leone.

As mining.com points out, "The company, which applied for large-scale mining in the African nation in 2015, originally intended to combine its Tongo project with Tonguma, owned by junior Octea Mining. The deal would have created Sierra Leone’s second largest diamond mine, with a combined annual production of 250,000 carats.


However, Stellar opted out of the proposed acquisition and, instead, has agreed to run the mine and sell the extracted diamonds, paying a 10% of the revenue after deduction of government royalties to Octea." This new, provisional deal was revealed along with Stellar's announcement of a placement to raise approximately £324,500 ($407,173) through the issue of 5,900,000 new Ordinary Shares of the Company at an issue price of 5.5 pence per share.

They additionally announced an Open Offer to raise up to approximately £250,000 ($313,732) at 5.5 pence per Open Offer Share, and have proposed resumption of trading on AIM on completion of the placing.

According to a press release, ALROSA, the world’s largest diamond producer by volume, reported the results of the international diamond auction, which took place in the Sixth International Diamond Week in Israel (IDWI), offering for sale special-size natural rough diamonds (10.8-ct+) , as well as polished goods.

The company sold 105 lots of rough and polished diamonds worth $21.8 million during the trading session held on 13-16 February, 2017 in the City of Ramat Gan, Israel. The auction was attended by 119 buyers from 30 countries. ALROSA auctioned off diamonds from the "Towns of Yakutia" collection, produced by Diamonds ALROSA, the miner’s subsidiary.


The lots included the "Star of Vilyuysk", the largest round diamond ever manufactured by Diamonds ALROSA - and one of the largest in the world in this segment - the Star of Vilyuysk, weighing 80.59 carats. It is one of the ten diamonds produced from the 235-carat rough diamond "City of Vilyuysk", recovered at the Yubileynaya (Jubilee) Pipe in 2013.

It took more than nine months of hard work for Diamonds ALROSA’s craftsmen to cut and polish the giant diamond. The collection also includes "The Glory of Yakutsk", a pair of +10-carat radiant fancy yellow diamonds (VS1) fashioned from a 33.06-ct rough diamond, also recovered from Yubileynaya.


Diamonds ALROSA is a diamond cutting operation owned by the parent company and one of the biggest diamond manufacturers in Russia. Diamonds ALROSA sells diamonds of round and fancy cuts in the domestic and overseas markets offering goods of a complete product mix in terms of size, weight, color and quality.

GoldMining Inc. is pleased to announce it has been named to the 2017 TSX Venture 50, an annual ranking of top-performing companies on the TSX Venture Exchange over the last year. The Company was ranked second overall in the mining sector.


Each year, the TSX Venture 50 ranking showcases listed companies that have shown notable results in key measures of market performance. The companies included in the 2017 TSX Venture 50 were selected based on three equally weighted criteria: market capitalization growth, share price appreciation and trading volume.


Amir Adnani, Chairman, stated: "We are pleased to report that GoldMining Inc. placed in the top two mining companies selected for the 2017 TSX Venture 50. As announced earlier this month, the Company was also among the top four companies included in the 2017 OTCQX® Best 50, a ranking of top-performing equities traded on the US OTCQX market in 2016. These recognitions serve to validate the Company's strategic execution in 2016.

We anticipate extending that same strategy into 2017 by targeting and acquiring additional gold projects of merit, where we see potential for substantial resource growth. With $20 million in cash and strong institutional backing, we will strive to earn the same results over the year ahead."


About GoldMining Inc.

GoldMining is a public company with a focus on the acquisition, exploration and development of projects in Brazil, Colombia, the United States and Canada. The Company is advancing its São Jorge and Cachoeira Gold Projects in Brazil, Titiribi Gold-Copper Project in Colombia, Whistler Gold-Copper Project in Alaska and its Rea Uranium Project in the western Athabasca Basin in Canada.

ALGOLD RESOURCES LTD is pleased to announce that the Mauritanian Ministry of Environment and Sustainable Development has provided a conclusive acceptance and opinion regarding the Environmental Feasibility of the Tijirit Gold Mine Project, a key step in Algold's strategy for 2017.

The acceptance and opinion, represents a significant first step towards the application of a mining lease for Algold's Tijirit Gold Project. Algold CEO Francois Auclair commented, "We thank the Government of Mauritania for helping us quickly advance this project, and look forward to additional collaboration in 2017."

This press release has been reviewed for accuracy and compliance under National Instrument 43-101 by André Ciesielski, DSc., PGeo., Algold Resources Ltd. Lead Consulting Geologist and Qualified Person, as defined by NI 43−101 Standards of Disclosure for Mineral Projects. André Ciesielski has further approved the scientific and technical disclosure in the news release.


ABOUT ALGOLD

Algold Resources Ltd. is focused on the exploration and development of gold deposits in West Africa. The board of directors and management team are seasoned resource industry professionals with extensive experience in the exploration and development of world-class gold projects in Africa.

Renaissance Gold has revealed plans to start drilling in the second week of March on the Arabia project in Pershing County, Nevada, US. Drilling will be funded by Coeur Mining under an earn-in agreement. This agreement enables Coeur to earn a 70% interest in the project by completing a bankable feasibility study.

 

The project is 14 miles west of Coeur's Rochester deposit, which has reportedly produced greater than 135 million ounces of silver and 1.5 million ounces of gold. Renaissance Gold president and CEO Ronald Parratt said: “We're pleased to have Coeur as a partner to support exploration efforts at Arabia. Working with Coeur's team, we've developed an excellent set of drill targets and are excited to see drilling begin.

“This project coupled with the new generative agreement announced 9 February with Coeur is a great start to the new year.”

The Arabia project is situated on a series of mesothermal quartz veins, cutting a Cretaceous granodiorite sill. Renaissance Gold has completed 403 surface samples including outcrop and select dump samples at the project that ranges from <0.003g/t to 18.9g/t Au, <1g/t to 1,800g/t Ag, <0.01% to 30.1% Pb, and <0.01% to 0.48% Zn.

Veins of the project exhibit similar mesothermal texture, quartz-sericite pyrite alteration assemblage and structural geometry found in Nenzel Hill above the Rochester deposit.

The 2017 drill programme to be completed by Boart Longyear comprises 2,150m of reverse circulation drilling in eight holes.

This campaign will target Ag-rich polymetallic mineralisation and focus on the structural intersections and dilatational jogs in veins. The programme will also test for additional favourable mineralisation hosts situated below the historically mined veins.

Canadian company IAMGOLD Corporation has completed the purchase of a 100% interest in Merrex Gold, making it a fully owned subsidiary.

Under this transaction, IAMGOLD purchased all issued and outstanding common shares of Merrex Gold it did not already own, as well as all outstanding common share purchase warrants of Merrex through a court-approved plan of arrangement under the Business Corporations Act (British Columbia).


IAMGOLD president and CEO Steve Letwin said: “With the acquisition of Merrex, we now own 100% of the Siribaya-Diakha project in Mali and its gold resource, which is estimated to be in excess of one million ounces as reported in our annual reserve and resource news release of 22 February 2017.


“This transaction consummates eight years of excellent work and partnership with the Merrex team that led to the discovery of the Diakha deposit.
"We now own 100% of the Siribaya-Diakha project in Mali and its gold resource, which is estimated to be in excess of one million ounces."


“This project, along with the ongoing exploration and evaluation of our nearby Boto Gold project in Senegal, gives us a significant footprint from which to advance our 2017 goal to expand our current resources in this prolific region of West Africa.”


Merrex owns a 50% interest in the Siribaya Gold Project in West Mali, and a 100% stake in Karita exploration authorisation in Guinea.
The company holds nearly 700km² in permits within an area of approximately 4,100km² of interest in the southern portion of the West Mali Gold Belt.

 

Renaissance Gold has revealed plans to start drilling in the second week of March on the Arabia project in Pershing County, Nevada, US.


Drilling will be funded by Coeur Mining under an earn-in agreement. This agreement enables Coeur to earn a 70% interest in the project by completing a bankable feasibility study.

The project is 14 miles west of Coeur's Rochester deposit, which has reportedly produced greater than 135 million ounces of silver and 1.5 million ounces of gold.


Renaissance Gold president and CEO Ronald Parratt said: “We're pleased to have Coeur as a partner to support exploration efforts at Arabia. Working with Coeur's team, we've developed an excellent set of drill targets and are excited to see drilling begin.

“This project coupled with the new generative agreement announced 9 February with Coeur is a great start to the new year.”

"The Arabia project is situated on a series of mesothermal quartz veins, cutting a Cretaceous granodiorite sill."

Renaissance Gold has completed 403 surface samples including outcrop and select dump samples at the project that ranges from <0.003g/t to 18.9g/t Au, <1g/t to 1,800g/t Ag, <0.01% to 30.1% Pb, and <0.01% to 0.48% Zn.


Veins of the project exhibit similar mesothermal texture, quartz-sericite pyrite alteration assemblage and structural geometry found in Nenzel Hill above the Rochester deposit.
The 2017 drill programme to be completed by Boart Longyear comprises 2,150m of reverse circulation drilling in eight holes.


This campaign will target Ag-rich polymetallic mineralisation and focus on the structural intersections and dilatational jogs in veins. The programme will also test for additional favourable mineralisation hosts situated below the historically mined veins.

Acacia Mining has announced an initial NI 43-101 compliant inferred mineral resource estimate of 1.31 million ounces of gold at 12.1g/t on the Liranda Corridor within its West Kenya project. The project is primarily located on three main zones of mineralisation at the Acacia prospect with multiple lodes open laterally and at depth.


Acacia Mining CEO Brad Gordon said: “We are delighted to report a maiden high-grade Inferred Mineral Resource on the Liranda Corridor in Kenya of 1.31 million ounces at 12.1 grams per tonne of gold.


“This is one of the highest grade projects in Africa today, and we believe that this initial resource is a first step in the delineation of a multi-million ounce high-grade corridor.


"In addition to the Acacia prospect, which hosts all of this maiden resource, we have known mineralisation on the Bushiangala prospect, 1km away to the west, with a further three prospective lodes in early stage testing.


“Whilst Kenya is a relatively new mining destination, we are very pleased with the relationships we have built and the support we have received and look forward to working closely with all stakeholders as we progress this highly promising project.”

"We believe that this initial resource is a first step in the delineation of a multi-million ounce high-grade corridor." Gold mineralisation at the project is found in the shear zones ranging in width from 0.5m to 10m.


The company has also identified mineralised zones on the Bushiangala prospect, which is situated 1km from Acacia prospect. However, details about this project have not been fully revealed due to drill density and a further study being required.
At Liranda Corridor, the company intends to complete 44 Reverse Circulation holes for 4,438m and 132 diamond core holes for 64,700m.To date, nearly 80% of the target has been drilled.


This year, the company intends to invest $12m on exploration at the West Kenya project. Most of the funding will be used in the 45,000m-drilling programme on the Liranda Corridor. 
The company also announced that the scoping study on a potential underground operation is expected to begin in the second half of the year.

Northam Platinum’s strategy of buying additional mines, as its strives to become a 1-million ounce a year platinum group metals producer, netted it Glencore’s Eland Platinum mine for R175m cash.

As part of the agreement, Glencore will have exclusive rights to market and sell all the chrome Northam produces in exchange for the sale of its Eland mine and a concentrator that can treat 250,000 tonnes of ore a month. 
It also comes with a 100-piece mining fleet, some of which Northam will divert to its new Booysendal South mine, which was the old Everest South mine it bought from Aquarius Platinum to unlock its large Booysendal tenement near Steelpoort in Limpopo.


The Booysendal mine increased its chrome concentrate output by 45% in the six months to end-December, to 138,635 tonnes.

Eland has a resource of 21.3-million ounces of four platinum group metals near Brits in the North West.


"The Eland transaction provides Northam with a medium-term option over a large, shallow resource with fully developed, world-class surface infrastructure," Northam CEO Paul Dunne said.


Northam reported a narrowing of its loss for the six months to end-December, at R226.6m against a R273m loss in the same period a year earlier. The loss comes despite an uptick in revenue to R3.5bn from R3.2bn and operating profit growing to R352m from R93m. Metal sales fell nearly 10% to 223,705oz during the interim period because of an 18-day stoppage caused by a mill failure at its UG2 concentrator at its Zondereinde mine.


UG2 is a reef that contains platinum group metals and chrome and is one of two reefs that platinum miners target, the other being the sought-after Merensky Reef.


Northam also rearranged its underground working crews after it fired 357 people following labour disruptions at the mine in June last year, which meant fewer tonnes of UG2 and Merensky ore were mined and hoisted.


Northam expects to have full mining teams back underground by March.Booysendal generated 100,021oz of platinum group metals, up from nearly 74,000oz a year earlier.

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