Mining Stock news – Excalibur Resources, Gryphon Gold, Highland Copper

These are a few of the news releases that caught my eye today.

So far a tough day for gold stocks as gold is down $15 an oz and the TSE gold index is down 4 pts.

Excalibur Resources – XBR - Excalibur Resources hires Vigil as plant manager -  Excalibur is a small scale gold producer just stating production in Mexico. They are currently traded on the CNSX and have plans to move to the TSX Venture. The goal of the company is when things are in full swing is to pay a dividend from cash flow.

Gryphon Gold – GGN -Gryphon to form Borealis JV with Waterton Global Value - Gryphon gold is a small gold producer operating in Nevada.  The company has had operational problems with its mine and is currently trading at the 6-7 cent level. Hopefully this new partnership with Wateron Global can get the operation firing on all cylinders. Cheryl Brandon, portfolio manager at Waterton, stated: “We are very excited about our partnership with Gryphon Gold and the future potential of the Borealis project. Our expectation is that the near-term initiatives being undertaken at the Borealis property, along with our experience and added capital, will enable us to increase recovery rates and extend the life of the mine.”

Highland Copper Company – HI - Highland drills 46 m of 1.9% Cu, 2.6 g/t Ag at Keweenaw - Highland has been coming up with some nice high grade copper intercepts at its project in Michigan. They are working towards a 43-101 resource update using recent drill holes as well as a historic database.