Resource World Magazine

ore over the past 22 years. Recently the company has identified high-grade mineralization below the lowest production levels and defined an inferred resource of 1.58 million tonnes grading 4.45% copper and 3.17 g/t gold. Increased production is planned. Barrick Gold Corp. [ABX-TSX, NYSE] has recently faced strong turbulence surrounding its Pascua Lama Project that straddles the Chile-Argentina border. Construction on the Chilean side has been on hold since April following court and regulatory rulings, an outcome that came in tandem with the April-May slide in gold prices. Barrick's Q2 earnings reflected the impact, with a $5.1 billion impairment charge listed for Pascua Lama. On September 26, Chile's Supreme Court upheld the project's environmental permit, although construction can only proceed once a new water-management system is implemented. Barrick reports that this will be completed by end-2014. Output for the company's South America division stood at 296,000 oz gold for Q2 2013, down from 327,000 oz recorded for Q2 2012. Batero Gold Corp. [BAT-TSXV] owns the Batero-Quinchia gold project in Colombia. On September 19, the company announced that results for its H1 exploratory program were still being analyzed, while forthcoming work will focus on the project's Esmeralda, Antenna, La Cumbre and Kobey targets. Work on a preliminary economic assessment (PEA) for the La Cumbre oxide deposit also continues, with the company estimating its release in early Q4. Bear Creek Mining Corp. [BCM-TSXV] announced September 25 the approval of an environmental and social impact assessment by the Peruvian Ministry of Energy and Mines for its flagship Corani silverlead-zinc project. Corani contains 270 million oz silver and 4.8 billion lbs lead and zinc. The company also announced it was encouraged by recent discussions with the Peruvian government relating to a rights issue surrounding its Santa Ana silver project. Bellhaven Copper & Gold Inc. [BHVTSXV] reported encouraging drill results november 2013 on September 10 for its first-phase drill campaign at the La Garrucha prospect within its La Mina project, Colombia. Highlights included the noteworthy hole LME-1106, which returned an intersect of 1.03 g/t gold, 0.13% copper and 3.0 g/t silver from 171-441.96 metres, and hole LME-1104, with 1.02 g/t gold, 0.14% copper and 3.1 g/t silver from 335-426 metres. Coeur Mining Inc. [CDM-TSX; CDENYSE] operates the San Bartolomé silver mine near Potosi, Bolivia. The operation produced 1.52 million ounces silver at a cash operating cost of $12.89/oz silver in Q2 2013, which compares with 1.39 million oz silver at cash operating cost of $13.27/ oz silver for Q1. The company is currently implementing an expansion program that will increase the operation's processing capacity by 10-15% across 2013. Colombian Mines Corp. [CMJ-TSXV; X6C-Frankfurt] unveiled drill results on September 24 from a recent campaign at its El Dovio Project in Colombia. Hole D1306 returned 1.2 g/t gold and 3.24 g/t silver from 41.5-59.5 metres, while hole D13-07 intersected 0.97 g/t gold and 3.93 g/t silver from 37.7-83.5 metres. On September 17, the company announced it had completed a joint-venture option agreement with Overland Resources relating to the Rio Negro Project, granting Overland the ability to earn an undivided 90% interest. Colossus Minerals Inc. [CSI-TSX] owns a 75% stake in the Brazil-located Serra Pelada gold-platinum-palladium mine that is currently being built. Effective September 23, the company reported being on track with the expansion of its dewatering program and underground development work. Construction of the tailings dam is 85% complete, while the processing plant is 92% complete effective September 17. Continental Gold Ltd. [CNL-TSX] is focused on the Buriticá Project in Colombia. On September 19, it reiterated that a second and final environmental license modification will be submitted in Q4 to the body responsible for environmental permits. On August 29, it announced encouraging results of an eight-hole campaign. Of note, hole BUUY126 extended the Veta Sur vein system and included an intersect of 20.47 g/t gold and 134.6 g/t silver from 74.30-102.70 metres. Cosigo Resources Ltd. [CSG-TSXV] wholly owns its flagship Machado property in southeast Colombia, close to the Brazilian border. On July 30, it announced completion of a 20-hole drill campaign focused on the property's central Cerro Rojo area. Assays are expected in early November. The company is also exploring three properties in Brazil giving Cosigo a suite of asset generator prospects on the massive metasedimentary Taraira Gold Belt. Dynasty Metals and Mining Inc. [DMM-TSX] wholly-owns two Ecuadorlocated gold properties: Jerusalem and Zaruma, which are operated by interchanging mine development and mine production. For H1, the company recorded $17.2 million in sales from 11,000 oz gold and 27,000 oz silver obtained from Zaruma operations. Proceeds, net production expenses and taxes, are credited to mine development costs. Goldcorp Inc. [G-TSX; GG-NYSE] holds the Cerro Negro Project and has a 37.5% stake in the Alumbrera Project – both in Argentina. It also holds 70% in the El Morro operation, Chile. For Q2, the company announced the deferral of nonessential and "non-critical path" activities to 2014 and 2015. Resultant capex savings are estimated to reach $100 million. In addition, all exploration at Cerro Negro has been terminated until end-2013, which will result in $15-20 million saved. IAMGold Ltd. [IMG-TSX; IAG-NYSE] announced August 7 that it has concluded a new agreement with the government of Suriname relating to power rates and its Rosebel gold mine in the country's northeast. The lower rates have the potential to reduce costs by up to $50/oz produced at Rosebel. Production for H1 stood at 171,000 oz gold at a cash cost of $730/oz. This compares with 187,000 oz gold at a cash cost of $666/oz for H1 2012. International Minerals Corp. [IMZTSX; Swiss] announced on October 1 that it will be acquired by Hochschild Mining Plc., primarily for its 40% stake www.resourceworld.com 13

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