SA News • Fri, Oct. 31
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Ivanhoe Mines: 3 Different Insiders Have Purchased Shares This Month
- 3 insiders purchased Ivanhoe Mines' stock within one month.
- The stock was sold by no insiders in the month of intensive purchasing.
- 2 of these 3 insiders increased their holdings by more than 10%.
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Fri, Oct. 31, 7:58 AM
- A dispute between Ivanhoe Mines (OTCPK:IVPAF) and South Africa's mining ministry is delaying construction of the world's biggest platinum mine planned since 1993.
- South Africa’s Department of Mineral Resources delayed authorization to start building the $1.6B Platreef mine by 12 weeks to a target date of Nov. 26, saying some elements of Ivanhoe’s plan to benefit the surrounding community were insufficient, Bloomberg reports.
- Platreef is projected to produce at least 785K oz. of platinum, palladium, rhodium and gold by 2024.
Mon, Aug. 18, 9:08 AM
- Ivanhoe Mines (OTCPK:IVPAF) has hired BMO and Morgan Stanley as financial advisers to conduct a strategic review of its Kamoa and Kipushi copper projects in the Democratic Republic of Congo in an effort to find third-party strategic investors or joint venture parties.
- Ivanhoe says it will continue to examine other options such as a corporate reorganization and a project spinoff.
Tue, Jun. 17, 11:59 AM
- China's largest gold mining company, China National Gold, is on the hunt for global acquisitions and partnerships, and recently talked about potential partnerships with Barrick Gold (ABX +0.3%), President Xin Song says.
- Both parties are looking for potential opportunities jointly, Song says, but those are not likely to include an investment in the Pascua Lama mine ABX has put on hold amid cost overruns and environmental demands from Chile's government; the the project has several challenges, including its high elevation, its permitting troubles and high capital expenditure.
- China National is no longer in talks with Ivanhoe Mines (IVPAF) on African investment, Song says.
Tue, May. 20, 6:21 PM
- Ivanhoe Mines (IVPAF) says it plans to issue 83.3M units priced at $1.50 each to raise $150M to fund planned work on its Kamoa and Kipushi projects in the Democratic Republic of Congo this year.
- Also, executive chairman Robert Friedland says he will buy $25M of units on the same terms as the public offering.
- Longer-term, Ivanhoe will need much more capital to develop its projects and is looking at splitting apart its assets in South Africa and the Congo.
Fri, May. 16, 11:22 AM
- Ivanhoe Mines says (IVPAF +7.2%) it is considering various options including splitting the company’s projects into separate publicly traded entities, asset sales, joint ventures and alternative stock exchange listings.
- While Ivanhoe exited Q1 with $170M in cash, it has committed $146M for the Platreef project in South Africa, which leaves very little for development of its Kamoa and Kipushi deposits in the Democratic Republic of Congo.
- Ivanhoe wants to begin developing a mine-access decline at Kamoa this year and conduct an underground drilling program at Kipushi, but it lacks funds to do so unless it can raise more by the end of June.
Oct. 16, 2013, 12:39 PM
- Ivanhoe Mines (IVPAF.OB +6.8%) surges in the wake of reports of "extraordinary" and "unprecedented" drilling results at its Platreef project in South Africa.
- The company says the combined grade and thickness of the platinum group metals and base metals mineralization seen in the drilling "far exceeds" anything previously encountered at the Platreef project.
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