Colossus Minerals announced today a $21 million bought deal at $2.15/share with a half warrant at $2.75. The underwiting is being led by Macquarie Capital Markets and also includes Canaccord Capital, GMP, Dundee, Haywood, and Blackmont. An over allotment option could take the total up to $24.725 million.
Anglo also announced a 3% fall in 2008 pre-tax profit to $8.57bn (£6bn) and warned that 2009 would be tough. For full story, click here
Mining giant Anglo American has said it is to cut an additional 9,000 jobs as the global economic downturn hits demand for raw materials. For full story, click here
Aquarius Platinum Ltd (AQP.L) plans to make an all-share bid for Ridge Mining Plc (RDG.L) valuing the firm at 63.9 million pounds ($90.37 million) to expand its resource base and output. For full story, click here
South Africa’s rand snapped a four- day decline against the dollar as higher prices for gold and platinum, the nation’s biggest export earners, boosted revenue prospects for the world’s largest producer of precious metals. For full story, click here
Premium Exploration Inc. reported today that the PGM anomalies previously reported at the Chrome Mountain PGM project were formed by the same type of processes that formed the Platreef PGM deposits in South Africa.
Aquarius Platinum has stepped up its move on Ridge Mining, signing a letter of intent for an all-share bid for the UK-listed miner. For full story, click here
Ridge takeover, if successful, would help consolidate the large number of junior platinum companies at a time when larger deals have fallen through. For full story, click here
Platinum mining faces the biggest risk because of the global slowdown in vehicle manufacturing. Anglo Platinum is looking to cut 10 000 jobs and Lonmin Platinum could terminate as many as 6 600 jobs. For full story, click here
Jobs could be at risk at Kumba Ore if the global market weakened to such an extent that its sales fell substantially below production, the group warned For full story, click here
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