Orinoco Pours First Gold at Cascavel

Orinoco Gold has poured the first gold at its 70% owned Cascavel mine in Goiás state, central Brazil. The initial pour utilized gravity gold concentrate derived from low-grade development material produced during ongoing project commissioning.

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Venezuela Agrees to Arbitration Settlement with Gold Reserve

Gold Reserve Inc. announced in early August that it has reached an agreement with the government of Venezuela regarding its Brisas gold-copper project, which was expropriated by the government in 2009. The agreement includes payment of an arbitral award granted in favor of the company by the International Centre for Settlement of Investment Disputes.

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Yamana Sells Mercedes to Premier Gold Mines

Yamana Gold has entered into a definitive agreement to sell its Mercedes underground gold-silver mine in Sonora, Mexico, to Premier Gold Mines, a Canadian junior company headquartered in Thunder Bay, Ontario. Pursuant to the agreement, Yamana will receive cash and equity securities valued at $140 million at the time of the negotiations, with cash accounting for $122.5 million of the total.

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Timmins Gold Initiates Pre-construction at Ana Paula

Timmins Gold has initiated a $9.2 million pre-construction program, including work on a feasibility study, at its Ana Paula gold project in Guerrero, Mexico. Development of the program is based on a positive preliminary economic assessment (PEA) completed in March that indicates that Ana Paula represents a robust, high-margin, open-pit mining project at a $1,200 gold price.

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