America Merrill Lynch bullish on gold in 2015

Zodiac Gold announced completion of a 10,661-sample soil survey covering 530 square kilometres across Bomi South and Bong West in Liberia. The company said its interpretation of earlier national stream-sediment maps placed anomalous areas within its licences in the top 0.5% nationally for sixteen elements, including lead and zinc. These are regional exploration indicators, with no new lead-zinc resource disclosed.

MBK Partners and Young Poong are also major shareholders and that the parties could cooperate around sustainable growth, enhanced corporate value and the interests of all shareholders. The company said the control dispute, which has lasted nearly two years, could weigh on its future competitiveness and shareholder value, and urged the shareholders to focus on long-term development as critical-minerals supply chains undergo restructuring. Korea Zinc said it would continue advancing its “Troika Drive” covering secondary-battery materials, resource recycling and renewable energy, while expanding its critical-minerals supply-chain presence through Project Crucible in the United States. The company also said its extraordinary shareholders’ meeting approved resolutions concerning an Audit Committee member and four independent directors, and that it would continue strengthening board independence and oversight.

South Africa-listed miner Orion Minerals disclosed on September 17 that its $2.5 billion copper and zinc concentrates prepayment and offtake agreement signed with a Glencore subsidiary has been approved by the South African Reserve Bank (SARB), clearing a key regulatory precondition for cross-border financing and bringing project funding close to financial close. The agreement is the binding $2.5 billion arrangement reached in February this year, with funds tied to future sales of copper and zinc concentrates. First copper and zinc concentrates are expected to be produced approximately 13 months after project funding is in place.