Monday, February 21, 2011

Arian Silver, Stellar Diamonds, Kalahari Minerals, AMG

Mexico-focused silver exploration and production company Arian Silver Corporation AGQ has reported that company is 'highly encouraged by the latest results from our current phase of drilling San Jose operation'.

Chief Executive Officer Jim Williams added "A revised resource calculation will be undertaken on conclusion of the current drill programme. Fine-tuning of both the mining and milling operations is ongoing... Proceeds from the 68 tonnes of concentrate sold to date amount to approximately US$580,000, subject to a final pricing review and possible adjustment."

AMG Advanced Metallurgical Group N.V has acquired 100% of the LLC interests of KB Alloys, LLC KBA, a market leader in Europe and South America for aluminium master alloys, grain refiners and aluminium powder technologies, from CHS Capital LLC for $23.5 million in cash.

KBA is the market leader in North America for the same products with production sites in Kentucky and Washington, USA. Both companies have complimentary operations in China located in Jiangsu and Jiaxing provinces.

Kalahari Minerals has announced that discussions are currently taking place regarding Potential Combination of Extract Resources Husab Uranium Project and Rio Tinto's Rössing Uranium Mine.

The AIM listed resource company noted the announcement published today on the ASX by Extract Resources, in which Kalahari's subsidiary, Kalahari Uranium Limited, holds a 41.08% interest. The Board of Kalahari confirms that is holding discussions with Extract to explore various different options that might simplify the Extract/Kalahari shareholding structure. Further new expected.

Stellar Diamonds STEL focused on West Africa, is to accelerate the development of its hard rock kimberlite projects and provides an update on its alluvial diamond operations after companies Bombokos sale realises record average price of $201/ct.

Company added that Mandala diamond production of 10,264 carats in Q4 2010 at an average grade of 16cpht. Stellar also sold 10,048 carats in February to generate $361,500.

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