Archive for the ‘Diaspora News’ Category

GMV Minerals Inc. exploration program in Guyana underway

September 20, 2010 Leave a comment

Fifth Avenue Research Corporation has published a review of GMV Minerals Inc. (GMV.V), offering insight on opportunities to invest in a gold company in Guyana with blue sky potential.

GMV Minerals Inc.(GMV.V) is a mineral exploration company active since 2008. The company recently refocused its efforts on gold exploration and changed its principal business to sourcing and exploring mineral properties in Guyana. GMV Minerals Inc. has approximately 535,000 acres of land and forms one of the largest and most strategically focused exploration properties in Guyana.

The full equity review may be found at

GMV Minerals Inc. has a strong management team with more than 30 years experience in mineral exploration throughout North and South America. The company’s country manager, Mr. Alfro Alphonso, has sold his previous property holdings to Guyana Goldfields Inc. (GUY.TO), Sandspring Resources Ltd. (SSP.V) and Sacre-Coeur Minerals, Ltd. (SCM.V)

Gold-bearing gravel and alluvium is presently being exploited by artisanal miners at several locations, on GMV Minerals Inc. claims, yielding production of up to 75,000 ounces of gold per year.

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Guyana Goldfields to sell non-core assets

September 18, 2010 Leave a comment

AURORA (GUY/CAN) -Canada’s gold exploration company Guyana Goldfields Inc (GUY.TO) said it plans to sell non-core assets in order to focus on its key mines, the Aurora project and the Aranka properties in Guyana.

The company said it might sell collateral exploration properties, as well as stakes in junior mining companies.

The company, whose other main assets include the Peters Mine Property and the Langis Mine, has already initiated the sale of its 16 percent stake in Guyana Precious Metals Inc (GPM.V).

Guyana Goldfields did not specify in which other miners it had stakes in.

The company’s flagship Aurora property in northern Guyana is targeted to begin production in the second half of 2012.

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Full refunds for CLICO Guyana policyholders

September 18, 2010 Leave a comment

President Jagdeo

GEORGETOWN -CLICO policyholders who may have thought they’d lost all their money following last week’s ordered wind-up of the operations of the troubled company’s Guyana branch, have received some good news from  President Bharrat Jagdeo: They’ll get back their money within a matter of weeks.

Jagdeo has rolled out a rescue plan that guarantees refunds to all those who were affected by the company’s financial troubles. Disclosing the bailout plan to a large gathering of CLICO shareholders yesterday, the country’s leader explained that policyholders with investments in the company up to a maximum GUY$30 million (US$145,842) as of February 2009, will be repaid in full.

Of the GUY$600 million (US$2.9 million) in cash resources which CLICO has immediate access to, Jagdeo said GUY$500 million (US$2.4 million) will be used to ensure that 6,924 people with long-term insurance policies, including life insurance, are covered; while the remaining funds will be set aside to cover the expenses of the company until wind up.

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Exciting end to Guyana Folk Fest

September 10, 2010 Leave a comment

By Tangerine Clarke

BROOKLYN -The Guyana folk festival ended its ninth season with an international flair. The energetic Guyana-based Classique Dance Company, joined the KenDrum Youth Steel orchestra from Canada, and juicy storyteller and veteran performer, Doris Harper from England, to thrill thousands of patrons at Meyer Levin School grounds in Brooklyn.

The inviting weather played a huge part in the success of the more that five hours of loud entertainment that included crowd pleaser, and Calypso Monarch, the Mighty Rebel, and Adrian Dutchin, direct from Guyana, who revved up the crowd with his eye-popping shirtless act.

A-list performers, such as Wrickford Dalgetty, Terry Gagraj, African drummer Jaggae, Chuck Girard and Yonnette Hopper provided exciting entertainment to engage both the nationals and their Caribbean counterparts.

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Guyana to sell rice to Venezuela in $38M deal

August 28, 2010 Leave a comment

GEORGETOWN -The Caribbean region’s largest rice producer says it will start selling the grain to Venezuela.

Guyana expects to sell 70,000 tons (64,000 metric tons) of rice to its South American neighbor. The government has said the deal will help offset a $160 million debt it has accumulated for the 5,000 barrels of oil it receives daily under the PetroCaribe agreement.

Guyana’s Rice Producers Association leader says Venezuela will pay up to $700 per ton of rice. Dharamkuman Seeraj said Saturday that the deal accounts for up to 30 percent of the autumn rice crop.

Guyana exports about 70 percent of its rice, most of it to the European Union.

US Senator Taps Guyanese National For Communications Job

August 27, 2010 Leave a comment

Errol Cockfield

By: Bevan Springer

NEW YORK/GEORGETOWN – Errol Cockfield, who was born in Guyana and also lived in Trinidad before emigrating to the US at age 10, will run communications for Democrats in the New York State Senate, beginning early September.

Senator John Sampson, the Democrat Majority Conference Leader, who also has Guyanese heritage, has recruited the 36 year-old Cockfield as Communications Director of the Senate Democratic Majority.

Cockfield holds a Bachelor’s in English with a minor in Journalism from SUNY Stony Brook and went on to head Newsday’s Albany Bureau and worked as a staff writer at the Los Angeles Times.

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Infinito Gold Ltd. Signs Letter of Intent to Sell Guyanese Assets to Shoreham

August 19, 2010 Leave a comment

CALGARY –Infinito Gold Ltd. and Shoreham Resources Ltd. have entered into a non-binding letter of intent through which Shoreham can acquire 100% of the issued and outstanding common shares of Infinito’s subsidiaries in Guyana and Aruba which hold the Marudi Mountain and Paint Mountain, and Potaro mineral concessions as documented in the March 7th, 2007 agreements between Shoreham and Infinito.

The Company and Shoreham propose to complete the transaction through payments to Infinito of US$500,000 in cash and the issuance of 1,600,000 common shares of Shoreham to the Company. On August 17, 2010, Shoreham paid US$100,000 to the Company (the “Deposit Payment”), and upon closing Shoreham will pay to the Company the US$400,000 balance and issue 1,600,000 shares.

The Company will have the right to receive a 2% Net Smelter Returns (“NSR”) royalty for all future mineral production from the Marudi Mountain Project to a maximum of US$3,000,000. The Company will also receive from Shoreham a 2% NSR royalty for all future alluvial, saprolite and bedrock production from the Potaro Project, to a maximum of US$2,000,000.

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