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TheStreet Open House

Aurizon Recommends “No” To $780-million Takeover Offer

IAMGold (TSX: IMG, NYSE: IAG) updated its NI 43-101 compliant resource estimate for its Côté project in the Canadian province of Ontario. The new estimate includes an indicated 7.61 million ounces of gold and inferred 1.04 million ounces. The indicated resource is up 114 percent from the company's previous estimate. As well, IAMGold said that it produced 830,000 ounces of gold in 2012 and expects its 2013 output to rise to between 875,000 and 950,000 ounces.

Centerra Gold (TSX:CG) said Thursday that it has purchased the remaining 30-percent interest in the Öksüt gold project, located in Central Turkey. The deal announced in December specified a payment of $20 million to stake owner Stratex International (LSE:STI), a London-based exploration company. Centerra's CEO, Ian Atkinson, said the company now plans to transition the project from exploration to development:

“Our immediate objective is to define the limits of the Ortaçam North deposit and complete enough drilling to calculate a resource estimate by the end of the year as we continue metallurgical and environmental baseline work,” he commented.

Nord Gold (FWB:RTSD) poured its first gold this week and expects to produce 100,000 ounces of gold this year from its Bissa mine in Burkina Faso, Bloomberg reported. The mine will be the seventh in the landlocked West African country.

Endeavour Mining (TSX:EDV,ASX:EVR) released a new, NI 43-101 compliant preliminary economic assessment for its Burkina Faso-based Hounde gold project, along with an updated mineral resource estimate. The report outlines average annual production of 161,000 gold ounces per year over a 10-year mine life.

Junior company news

Goldgroup Mining (TSX:GGA) announced that the lawsuit filed by DynaResource and DynaResource de Mexico is entirely without merit. Goldgroup intends to challenge the lawsuit and pursue all of its legal rights and remedies.

MAG Silver (TSX:MAG,AMEX:MVG) reported drill results from the recently completed Phase 2 drill program at its La Esperanza project in Mexico.

WestKam Gold (TSXV:WKG) announced that it will acquire an additional 17-percent interest on its existing seven claims on the Bonaparte gold property, thereby raising its ownership position to 92 percent.

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