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<title>Proactiveinvestors United Kingdom VANE Minerals</title>
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<pubDate>Thu, 24 May 2012 10:35:20 +0100</pubDate>
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<item>
<title><![CDATA[News - VANE Minerals' convertible deal impressive says broker - update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/43207/vane-minerals-convertible-deal-impressive-says-broker-update-43207.html</link>
<description><![CDATA[<p> </p>
<p><strong>Adds broker comment</strong></p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) has renegotiated the terms of two outstanding convertible loan notes to limit possible dilution to other shareholders.</p>
<p>VANE will now repay a £500,000 note held by City Natural Resources High Yield Trust this month rather than September, while repayment of a £1 million note held by Geiger Counter Ltd has been extended until 2017.</p>
<p>Both City Natural Resources and Geiger Counter are funds managed by New City Investment Managers.</p>
<p>Geiger Counter’s loan note will now be convertible into 80 million ordinary at 1.25p, a 34 per cent premium to yesterday’s close. Shareholders have to approve the new loan note, which will pay interest at 8 per cent.</p>
<p>David Newton, VANE’s chief executive, said he was delighted with the new agreement.</p>
<p>“The maximum dilution to existing shareholders would equate to only 15.3% of the enlarged share capital of the Company and the agreement allows the company to continue to devote its current cash resources to the development of its highly promising copper and uranium exploration assets."</p>
<p>VANE announced last year it had found a copper-molybdenum porphyry system on its acreage in New Mexico, an area that has produced huge amounts of the metals in the past. </p>
<p>The company also has gold and silver mining operations in Mexico that are providing the cash to fund its copper exploration.</p>
<p>It had cash balances of £2.30 million at the end of December.</p>
<p>Broker Northland described the renegotiations of the convertible as impressive.</p>
<p>“The new loan note will enable the company to continue to utilise the revenue generated from its Mexican gold operations to explore its prospective copper porphyry and uranium projects in the US,” it said.</p>
<p>Shares rose 9 per cent to 1.02 pence.</p>
<div><br /></div>
<p> </p> ]]></description>
<pubDate>Wed, 23 May 2012 12:57:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/43207/vane-minerals-convertible-deal-impressive-says-broker-update-43207.html</guid>
</item>
<item>
<title><![CDATA[News - VANE Minerals tidies up convertible loan positions to limit dilution ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/43181/vane-minerals-tidies-up-convertible-loan-positions-to-limit-dilution-43181.html</link>
<description><![CDATA[<p> </p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) has renegotiated the terms of two outstanding convertible loan notes to limit possible dilution to other shareholders.</p>
<p>VANE will now repay a £500,000 note held by City Natural Resources High Yield Trust this month rather than September, while repayment of a £1 million note held by Geiger Counter Ltd has been extended until 2017.</p>
<p>Both City Natural Resources and Geiger Counter are funds managed by New City Investment Managers.</p>
<p>Geiger Counter’s loan note will now be convertible into 80 million VANE ordinary at 1.25p, a 34 per cent premium to yesterday’s close. Shareholders have to approve the new loan note, which will pay interest at 8 per cent.</p>
<p>David Newton, VANE’s chief executive, said he was delighted with the new agreement.</p>
<p>“The maximum dilution to existing shareholders would equate to only 15.3% of the enlarged share capital of the Company and the agreement allows the company to continue to devote its current cash resources to the development of its highly promising copper and uranium exploration assets."</p>
<p>VANE announced last year it had found a copper-molybdenum porphyry system on its acreage in New Mexico, an area that has produced huge amounts of the metals in the past. </p>
<p>The company also has gold and silver mining operations in Mexico that are providing the cash to fund its copper exploration.</p>
<p>VANE had cash balances of £2.30 million at the end of December.</p>
<p> </p> ]]></description>
<pubDate>Wed, 23 May 2012 07:36:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/43181/vane-minerals-tidies-up-convertible-loan-positions-to-limit-dilution-43181.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Convertible Loan Notes ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120523vml8980d/</link>
<description><![CDATA[]]></description>
<pubDate>Wed, 23 May 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120523vml8980d/</guid>
</item>
<item>
<title><![CDATA[News - Vane Minerals says strong performance continuing in Mexico - update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42752/vane-minerals-says-strong-performance-continuing-in-mexico-update-42752.html</link>
<description><![CDATA[<p>
<p><strong>adds broker comment</strong></p>
<p> </p>
<p>Vane Minerals (<a href="/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) said the increased revenue from its Mexican operations experienced in the fourth quarter 2011 has continued throughout the first quarter of 2012.</p>
<p>It generated revenue of US$2.61 million in the quarter, broadly in line with the US$2.69 million reported for the fourth quarter.</p>
<p>Chief executive David Newton said: "Q1 production continues to meet forecasts and our in-house evaluation work during the period indicates security of production moving forward.</p>
<p>“Our Mexican operations continue to fund our copper and uranium exploration programs on which we will provide updates as appropriate."</p>
<p>Vane produced 1,180 ounces of gold and 26,164oz of silver in the first quarter at a direct production cost of US$582 per gold ounce or US$10.7 per silver ounce.</p>
<p>This compares to a fourth quarter performance of 1,352oz gold and 19,410oz silver produced at US$585 per gold ounce or US$10.8 per silver ounce.</p>
<p>In addition to the normal production from the La Colorada mine, the company is processing higher grade ore that it removed from the Diablito mine ahead of its planned closure later this year.</p>
<p>The first revenue from this additional production is expected to be recognised in the second quarter of the current year.</p>
<p>Broker Northland added the additional 1.6kt of high grade ore (17.9g/t gold and 1.8g/t silver) from the Diabilto Mine will be processed at a rate of 80t per month, resulting in c.100oz gold extra per quarter.</p>
<p>At today’s gold price of about $1,580/oz, it estimates this extra production would be worth around $158,000 per quarter until September 2014 (about $1m additional revenue in total). </p>
<p>A further 1,600t of lower grade ore (2g/t gold and 200 g/t silver) from Diabilto is to be stockpiled.</p>
<p>Vane already funds all its copper porphyry and uranium exploration from the operations in Mexico and this additional cash is likely to be utilised on these exploration projects, Northland said.</p>
<div><br /></div>
</p> ]]></description>
<pubDate>Mon, 14 May 2012 11:56:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42752/vane-minerals-says-strong-performance-continuing-in-mexico-update-42752.html</guid>
</item>
<item>
<title><![CDATA[News - Vane Minerals says strong Q4 performance continued in Q1 2012 ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42725/vane-minerals-says-strong-q4-performance-continued-in-q1-2012-42725.html</link>
<description><![CDATA[<p>Vane Minerals (<a href="/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) said the increased revenue from its Mexican operations experienced in the fourth quarter 2011 has continued throughout the first quarter of 2012. <br /><br />It generated revenue of US$2.61 million in the quarter, broadly in line with the US$2.69 million reported for the fourth quarter.<br /><br />Chief executive David Newton said: "Q1 production continues to meet forecasts and our in-house evaluation work during the period indicates security of production moving forward. <br /><br />“Our Mexican operations continue to fund our copper and uranium exploration programs on which we will provide updates as appropriate."<br /><br />Vane produced 1,180 ounces of gold and 26,164oz of silver in the first quarter at a direct production cost of US$582 per gold ounce or US$10.7 per silver ounce. <br /><br />This compares to a fourth quarter performance of 1,352oz gold and 19,410oz silver produced at US$585 per gold ounce or US$10.8 per silver ounce.<br /><br />In addition to the normal production from the La Colorada mine, the company is processing higher grade ore that it removed from the Diablito mine ahead of its planned closure later this year.<br /><br />The first revenue from this additional production is expected to be recognised in the second quarter of the current year.</p> ]]></description>
<pubDate>Mon, 14 May 2012 08:04:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42725/vane-minerals-says-strong-q4-performance-continued-in-q1-2012-42725.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Mexican Gold & Silver Quarterly Operations Update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/1205142258d/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 14 May 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/1205142258d/</guid>
</item>
<item>
<title><![CDATA[Media files - Vane supports exploration in US with profits from Mexico ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/stocktube/1137/vane-supports-exploration-in-us-with-profits-from-mexico-1137.html</link>
<description><![CDATA[David Newton, CEO of Vane Minerals, talks about supporting copper & uranium exploration with profits from the company’s assets, three former Freeport-McMoRan senior exploration employees, evaluating a copper molybdenum porphyry system in New Mexico, more than 110 uranium exploration targets, & more than 1.1 million lbs of U308 (April 12).]]></description>
<pubDate>Wed, 02 May 2012 15:16:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/stocktube/1137/vane-supports-exploration-in-us-with-profits-from-mexico-1137.html</guid>
</item>
<item>
<title><![CDATA[News - VANE Minerals revenue boosted by Mexico improvement - update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41591/vane-minerals-revenue-boosted-by-mexico-improvement-update-41591.html</link>
<description><![CDATA[<p>
<p><strong>- adds broker comment</strong></p>
<p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a>’ (<a href="/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) revenues rose sharply in 2011 as the performance of its Mexican gold and silver operations improved “significantly”.</p>
<p>Turnover increased by 44 per cent to £3.68 million (£2.56 million), with net losses for the year reducing to £1.6 million from £2.37 million.</p>
<p>In Mexico, lower than expected production from the Diablito mine was offset by higher than expected grades and recovery rates from its Ruiz joint venture. The Diablito mine is to be closed this year.</p>
<p>Total production in Mexico was 2,706oz of gold and 73,384oz silver at a at a direct production cost of $743.45 per equivalent oz gold or $16.23 per equivalent oz of silver.</p>
<p>VANE added that in the fourth quarter, Mexico’s contribution covered the entire costs of the company. </p>
<p>The company plans to use cash generated in Mexico to fund a potentially company-changing drilling programme on its copper assets in New Mexico and Arizona.</p>
<p>The group discovered what it says is a clearly identified copper-molybdenum porphyry system ay McGhee Peak at the end of 2011 and will test that and other potential targets further in the current year.</p>
<p>VANE is also exploring for uranium in the US, where it is focused on state-owned not Federal land.</p>
<p>It said today pre-feasibility work continues at the Wate uranium project, while other lead projects going into 2012 include the Rose pipe where work will focus on establishing a NI 43-101 resource.</p>
<p>David Newton, chief executive, said: “The first drilling results from McGhee Peak were encouraging, whilst the qualities of our Mexican assets can now be demonstrated over a meaningful period. </p>
<p>VANE is in a robust position both operationally and financially, with the downside risk mitigated by the cash flow generated in Mexico and the profile of our exploration assets strengthened."</p>
<p>VANE ended the year with a cash balance of £2.3 million.</p>
<p>The porphyry mineralisation discovery at McGhee Peak capped a good year for the company according to the broker Northland.</p>
<p>The positive results from the third of twenty four defined targets was an important step that highlights VANE's success with the exploration database that contains over 100 years of exploration data. </p>
<p>VANE is now drilling at its fourth US copper target, Peg Leg.</p>
<p>Shares rose 2 per cent today to 1.02 pence.</p>
</p>
</p> ]]></description>
<pubDate>Tue, 17 Apr 2012 14:49:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/41591/vane-minerals-revenue-boosted-by-mexico-improvement-update-41591.html</guid>
</item>
<item>
<title><![CDATA[News - VANE Minerals revenue boosted by Mexico improvement ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41569/vane-minerals-revenue-boosted-by-mexico-improvement-41569.html</link>
<description><![CDATA[<p> </p>
<p>Vane Minerals’ (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) revenues rose sharply in 2011 as the performance of its Mexican gold and silver operations improved “significantly”.</p>
<p>Turnover increased by 44 per cent to £3.68 million (£2.56 million), with net losses for the year reducing to £1.6 million from £2.37 million.</p>
<p>In Mexico, lower than expected production from the Diablito mine was offset by higher than expected grades and recovery rates from its Ruiz joint venture. The Diablito mine is to be closed this year.</p>
<p>Total production in Mexico was 2,706oz of gold and 73,384oz silver at a at a direct production cost of $743.45 per equivalent oz gold or $16.23 per equivalent oz of silver.</p>
<p>Vane added that in the fourth quarter, Mexico’s contribution covered the entire costs of the company. </p>
<p>The company plans to use cash generated in Mexico to fund a potentially company-changing drilling programme on its copper assets in New Mexico and Arizona.</p>
<p>The group discovered what it says is a clearly identified copper-molybdenum porphyry system ay McGhee Peak at the end of 2011 and will test that and other potential targets further in the current year.</p>
<p>VANE is also exploring for uranium in the US, where it is focused on state-owned not Federal land.</p>
<p>It said today pre-feasibility work continues at the Wate uranium project, while other lead projects going into 2012 include the Rose pipe where work will focus on establishing a NI 43-101 resource.</p>
<p>David Newton, chief executive, said: “The first drilling results from McGhee Peak were encouraging, whilst the qualities of our Mexican assets can now be demonstrated over a meaningful period. </p>
<p>VANE is in a robust position both operationally and financially, with the downside risk mitigated by the cash flow generated in Mexico and the profile of our exploration assets strengthened."</p>
<p>VANE ended the year with a cash balance of £2.3 million.</p>
<p> </p> ]]></description>
<pubDate>Tue, 17 Apr 2012 08:35:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/41569/vane-minerals-revenue-boosted-by-mexico-improvement-41569.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Final Results ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120417vml4503b/</link>
<description><![CDATA[]]></description>
<pubDate>Tue, 17 Apr 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120417vml4503b/</guid>
</item>
<item>
<title><![CDATA[News - VANE Minerals readies for follow-up drilling at McGhee Peak ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/40400/vane-minerals-readies-for-follow-up-drilling-at-mcghee-peak-40400.html</link>
<description><![CDATA[<p> </p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> (LON: VML) said a diamond drill rig will be used to follow up on the company’s initial drill programme at McGhee Peak in New Mexico.</p>
<p>The company has completed two rotary holes and partially drilled a third, which uncovered a copper-molybdenum porphyry system.</p>
<p>An attempt was made to re-drill the third hole, which was unsuccessful due to the poor ground conditions. </p>
<p>A diamond drill rig, which is more suitable for the conditions, will be used for the follow-up drilling programme, during which this third hole will also be completed. </p>
<p>Each hole will take three to four weeks to drill once the permits have been obtained. In the meantime, the rotary rig has been moved to VANE’s next target, Peg Leg, in Southern Arizona.</p>
<p>Chief executive David Newton said: "Although it is frustrating not to have completed the third hole at McGhee Peak to target depth, our analysis of the drilling to date has given us sufficient confidence to commit to diamond drilling there. </p>
<p>“The rotary drilling has already discovered two mineralised targets within a clearly identified porphyry system relatively inexpensively. </p>
<p>“This is a promising development for VANE and we will continue our exploration there. </p>
<p>“There are a number of copper exploration targets within our license areas and we intend to remain active in attempting to identify further porphyry systems."</p>
<p> </p> ]]></description>
<pubDate>Mon, 19 Mar 2012 07:24:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/40400/vane-minerals-readies-for-follow-up-drilling-at-mcghee-peak-40400.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Drilling Programme ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120319vml5475z/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 19 Mar 2012 07:00:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120319vml5475z/</guid>
</item>
<item>
<title><![CDATA[Media files - Vane Minerals CEO says he’s excited about developments for 2012 ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/stocktube/1034/vane-minerals-ceo-says-hes-excited-about-developments-for-2012-1034.html</link>
<description><![CDATA[David Newton, Vane Minerals CEO (<a href="/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>), tells <a href="http://www.proactiveinvestors.co.uk/companies/overview/8792/Proactiveinvestors" class="companyPopupTrigger" rel="8792">Proactiveinvestors</a> that he hopes to be able to deliver some good news to investors this year with the drilling programme mapped out for 2012. David also talks about the work that the company has been doing in their efforts to raise the production process at the gold and silver mining operation in Mexico. ]]></description>
<pubDate>Thu, 23 Feb 2012 11:14:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/stocktube/1034/vane-minerals-ceo-says-hes-excited-about-developments-for-2012-1034.html</guid>
</item>
<item>
<title><![CDATA[News - VANE Minerals gets lift as Mexico gold output picks up - UPDATE ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/38652/vane-minerals-gets-lift-as-mexico-gold-output-picks-up-update-38652.html</link>
<description><![CDATA[<p><strong>---Adds broker comment and share price---</strong><br /><br /><a href="http://proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) got a boost to its latest quarter as grades and recovery rates jumped at its Mexico gold and silver operations. <br /><br />Revenues jumped to US2.69 million in the three months to December as it produced 1,352 ounces of gold at a cost of US$585 per ounce compared to 628 ounces at a cost of US$628 in the preceding three months.<br /><br />VANE also produced 19,410 ounces of silver at a lower cost per ounce.<br /><br />The cash generated was enough to cover all of the company's costs (both its operational costs and its exploration costs) for the fourth quarter, VANE added.<br /><br />VANE is pushing ahead with the closure of the Diablito mine and work has started to remove 3,200 tonnes of high grade ore.<br /><br />David Newton, chief executive, said: “These results are very encouraging and underpin the company's decision to switch its focus to ore produced at the La Colorada Mine”<br /><br />“Whilst there can be no guarantee that these results will be replicated in the future, they demonstrate that if these production levels can be maintained then the company's Mexican operations will continue to make a significant cash contribution to the total running costs of the group," he added.<br /><br />VANE said 7,802 tonnes of ore was processed by SDA Mill during the three months to December (Q3: 8,022 tonnes) with average grades 8.06 g/t gold (Q3: 5.17g/t) and 127g/t silver (Q3: 105g/t).<br /><br />The average recovery rate was 78.2% for gold (Q3: 75.9%) and 70.9% for silver (Q3: 69.9%).<br /><br />Dr Ryan Long, at broker Northland, said today's statement, following on from Friday's positive announcement of the discovery of a porphyry deposit in the Southwest USA, could provide another boost for the company's shares.<br /><br />"As the Diabilto Mine reaches the end of its life, VANE's focus will switch to the La Colorada Mine, which is part of its JV with the Ruiz Brothers," he said.<br /><br />"The terms of the JV mean 80 per cent of revenues generated are attributable to VANE until 150 per cent of the capital costs are recovered after which 60 per cent will be attributable to VANE. <br /><br />"The production from La Colorada should continue to fund the company’s key projects in porphyry exploration in the Southwest USA and uranium deposits in Northern Arizonia and Utah."<br /><br />As at 2.10pm this afternoon, shares in <a href="http://proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> stood up 4.26 per cent, at 1.23 pence.</p> ]]></description>
<pubDate>Mon, 06 Feb 2012 14:11:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/38652/vane-minerals-gets-lift-as-mexico-gold-output-picks-up-update-38652.html</guid>
</item>
<item>
<title><![CDATA[News - VANE Minerals gets lift as Mexico gold output picks up ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/38632/vane-minerals-gets-lift-as-mexico-gold-output-picks-up--38632.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) got a boost to its latest quarter as grades and recovery rates jumped at its Mexico gold and silver operations. </p>
<p>Revenues jumped to US2.69 million in the three months to December as it produced 1,352 ounces of gold at a cost of US$585 per ounce compared to 628 ounces at a cost of US$628 in the preceding three months.</p>
<p>VANE also produced 19,410 ounces of silver at a lower cost per ounce.</p>
<p>The cash generated was enough to cover all of the company's costs (both its operational costs and its exploration costs) for the fourth quarter, VANE added.</p>
<p>VANE is pushing ahead with the closure of the Diablito mine and work has started to remove 3,200 tonnes of high grade ore.</p>
<p>David Newton, chief executive, said: “These results are very encouraging and underpin the company's decision to switch its focus to ore produced at the La Colorada Mine”</p>
<p>“Whilst there can be no guarantee that these results will be replicated in the future, they demonstrate that if these production levels can be maintained then the company's Mexican operations will continue to make a significant cash contribution to the total running costs of the group," he added.</p>
<p>VANE said 7,802 tonnes of ore was processed by SDA Mill during the three months to December (Q3: 8,022 tonnes) with average grades 8.06 g/t gold (Q3: 5.17g/t) and 127g/t silver (Q3: 105g/t).</p>
<p>The average recovery rate was 78.2% for gold (Q3: 75.9%) and 70.9% for silver (Q3: 69.9%).</p> ]]></description>
<pubDate>Mon, 06 Feb 2012 08:50:00 +0000</pubDate>
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<title><![CDATA[RNS press release - Mexican Gold & Silver Operations Update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120206vml8243w/</link>
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<pubDate>Mon, 06 Feb 2012 07:01:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120206vml8243w/</guid>
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<title><![CDATA[News - VANE Minerals' US copper find is a significant milestone, says broker ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/38558/vane-minerals-us-copper-find-is-a-significant-milestone-says-broker-38558.html</link>
<description><![CDATA[<p>VANE Minerals’ discovery of copper at its McGhee Peak acreage is a significant milestone but much more work needs to be done, said broker Northland.</p>]]></description>
<pubDate>Fri, 03 Feb 2012 08:38:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/38558/vane-minerals-us-copper-find-is-a-significant-milestone-says-broker-38558.html</guid>
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<title><![CDATA[News - VANE Minerals finds copper in New Mexico ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/38541/vane-minerals-finds-copper-in-new-mexico-38541.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) said today recent drilling on its McGhee Peak project in New Mexico had discovered a copper-molybdenum porphyry system.</p>
<p>The two drill holes were a mile apart and had found two targets within a clearly identified porphyry system, containing copper, molybdenum and zinc, it added.</p>
<p>The drills encountered copper values in the range of 300-600 ppm, with zinc values greater than 200 ppm.</p>
<p>One hole showing visible molybdenite is being re-drilled after caving while there will be further additional drilling to determine if economically viable higher grades are present.</p>
<p>David Newton, VANE’s chief executive, said: "These are encouraging results, showing a mineralised porphyry and confirming our geological theory that the porphyry systems that have been successfully discovered and mined at surface in this part of the US, also occur at depth.“</p>
<p>“Further drilling is required over the coming months to confirm whether this porphyry has economic potential. This successful drilling result at what is only our third project on this very favourable mineral trend gives us confidence of further exploration success in our remaining projects, " he added.</p>
<p>VANE added that the drill currently working at McGhee Peak will be moved to its next copper target once the re-drilling of hole MP-1 is completed as additional drill holes will require permitting. Permitting of the additional holes at McGhee Peak is underway.</p>
<p>VANE’s focus is the porphyry copper systems of the south-west US, and its targets on either side of the Arizona-New Mexico border. This is an area that is home to 60 per cent of all US production of the metal.</p>
<p>McGhee Peak is located on the Hillsboro-Chino-Tyrone-Bisbee porphyry mineral trend in southwest New Mexico.</p> ]]></description>
<pubDate>Fri, 03 Feb 2012 07:40:00 +0000</pubDate>
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<title><![CDATA[RNS press release - Copper exploration drilling update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120203vml7207w/</link>
<description><![CDATA[]]></description>
<pubDate>Fri, 03 Feb 2012 07:01:00 +0000</pubDate>
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<title><![CDATA[RNS press release - Appointment of Joint Broker ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120203vml7312w/</link>
<description><![CDATA[]]></description>
<pubDate>Fri, 03 Feb 2012 07:00:00 +0000</pubDate>
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"id" => "43207",
"title" => "News - VANE Minerals' convertible deal impressive says broker - update",
"pubdate" => "2012-05-23 12:57:00",
"seftitle" => "vane-minerals-convertible-deal-impressive-says-broker-update-43207.html",
"description" => "<p> </p>
<p><strong>Adds broker comment</strong></p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) has renegotiated the terms of two outstanding convertible loan notes to limit possible dilution to other shareholders.</p>
<p>VANE will now repay a £500,000 note held by City Natural Resources High Yield Trust this month rather than September, while repayment of a £1 million note held by Geiger Counter Ltd has been extended until 2017.</p>
<p>Both City Natural Resources and Geiger Counter are funds managed by New City Investment Managers.</p>
<p>Geiger Counter’s loan note will now be convertible into 80 million ordinary at 1.25p, a 34 per cent premium to yesterday’s close. Shareholders have to approve the new loan note, which will pay interest at 8 per cent.</p>
<p>David Newton, VANE’s chief executive, said he was delighted with the new agreement.</p>
<p>“The maximum dilution to existing shareholders would equate to only 15.3% of the enlarged share capital of the Company and the agreement allows the company to continue to devote its current cash resources to the development of its highly promising copper and uranium exploration assets."</p>
<p>VANE announced last year it had found a copper-molybdenum porphyry system on its acreage in New Mexico, an area that has produced huge amounts of the metals in the past. </p>
<p>The company also has gold and silver mining operations in Mexico that are providing the cash to fund its copper exploration.</p>
<p>It had cash balances of £2.30 million at the end of December.</p>
<p>Broker Northland described the renegotiations of the convertible as impressive.</p>
<p>“The new loan note will enable the company to continue to utilise the revenue generated from its Mexican gold operations to explore its prospective copper porphyry and uranium projects in the US,” it said.</p>
<p>Shares rose 9 per cent to 1.02 pence.</p>
<div><br /></div>
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"id" => "43181",
"title" => "News - VANE Minerals tidies up convertible loan positions to limit dilution",
"pubdate" => "2012-05-23 07:36:00",
"seftitle" => "vane-minerals-tidies-up-convertible-loan-positions-to-limit-dilution-43181.html",
"description" => "<p> </p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) has renegotiated the terms of two outstanding convertible loan notes to limit possible dilution to other shareholders.</p>
<p>VANE will now repay a £500,000 note held by City Natural Resources High Yield Trust this month rather than September, while repayment of a £1 million note held by Geiger Counter Ltd has been extended until 2017.</p>
<p>Both City Natural Resources and Geiger Counter are funds managed by New City Investment Managers.</p>
<p>Geiger Counter’s loan note will now be convertible into 80 million VANE ordinary at 1.25p, a 34 per cent premium to yesterday’s close. Shareholders have to approve the new loan note, which will pay interest at 8 per cent.</p>
<p>David Newton, VANE’s chief executive, said he was delighted with the new agreement.</p>
<p>“The maximum dilution to existing shareholders would equate to only 15.3% of the enlarged share capital of the Company and the agreement allows the company to continue to devote its current cash resources to the development of its highly promising copper and uranium exploration assets."</p>
<p>VANE announced last year it had found a copper-molybdenum porphyry system on its acreage in New Mexico, an area that has produced huge amounts of the metals in the past. </p>
<p>The company also has gold and silver mining operations in Mexico that are providing the cash to fund its copper exploration.</p>
<p>VANE had cash balances of £2.30 million at the end of December.</p>
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array(
"id" => "42752",
"title" => "News - Vane Minerals says strong performance continuing in Mexico - update",
"pubdate" => "2012-05-14 11:56:00",
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<p><strong>adds broker comment</strong></p>
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<p>Vane Minerals (<a href="/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) said the increased revenue from its Mexican operations experienced in the fourth quarter 2011 has continued throughout the first quarter of 2012.</p>
<p>It generated revenue of US$2.61 million in the quarter, broadly in line with the US$2.69 million reported for the fourth quarter.</p>
<p>Chief executive David Newton said: "Q1 production continues to meet forecasts and our in-house evaluation work during the period indicates security of production moving forward.</p>
<p>“Our Mexican operations continue to fund our copper and uranium exploration programs on which we will provide updates as appropriate."</p>
<p>Vane produced 1,180 ounces of gold and 26,164oz of silver in the first quarter at a direct production cost of US$582 per gold ounce or US$10.7 per silver ounce.</p>
<p>This compares to a fourth quarter performance of 1,352oz gold and 19,410oz silver produced at US$585 per gold ounce or US$10.8 per silver ounce.</p>
<p>In addition to the normal production from the La Colorada mine, the company is processing higher grade ore that it removed from the Diablito mine ahead of its planned closure later this year.</p>
<p>The first revenue from this additional production is expected to be recognised in the second quarter of the current year.</p>
<p>Broker Northland added the additional 1.6kt of high grade ore (17.9g/t gold and 1.8g/t silver) from the Diabilto Mine will be processed at a rate of 80t per month, resulting in c.100oz gold extra per quarter.</p>
<p>At today’s gold price of about $1,580/oz, it estimates this extra production would be worth around $158,000 per quarter until September 2014 (about $1m additional revenue in total). </p>
<p>A further 1,600t of lower grade ore (2g/t gold and 200 g/t silver) from Diabilto is to be stockpiled.</p>
<p>Vane already funds all its copper porphyry and uranium exploration from the operations in Mexico and this additional cash is likely to be utilised on these exploration projects, Northland said.</p>
<div><br /></div>
</p> ",
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"id" => "42725",
"title" => "News - Vane Minerals says strong Q4 performance continued in Q1 2012",
"pubdate" => "2012-05-14 08:04:00",
"seftitle" => "vane-minerals-says-strong-q4-performance-continued-in-q1-2012-42725.html",
"description" => "<p>Vane Minerals (<a href="/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) said the increased revenue from its Mexican operations experienced in the fourth quarter 2011 has continued throughout the first quarter of 2012. <br /><br />It generated revenue of US$2.61 million in the quarter, broadly in line with the US$2.69 million reported for the fourth quarter.<br /><br />Chief executive David Newton said: "Q1 production continues to meet forecasts and our in-house evaluation work during the period indicates security of production moving forward. <br /><br />“Our Mexican operations continue to fund our copper and uranium exploration programs on which we will provide updates as appropriate."<br /><br />Vane produced 1,180 ounces of gold and 26,164oz of silver in the first quarter at a direct production cost of US$582 per gold ounce or US$10.7 per silver ounce. <br /><br />This compares to a fourth quarter performance of 1,352oz gold and 19,410oz silver produced at US$585 per gold ounce or US$10.8 per silver ounce.<br /><br />In addition to the normal production from the La Colorada mine, the company is processing higher grade ore that it removed from the Diablito mine ahead of its planned closure later this year.<br /><br />The first revenue from this additional production is expected to be recognised in the second quarter of the current year.</p> ",
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"pubdate" => "2012-05-14 07:00:00",
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"title" => "Media files - Vane supports exploration in US with profits from Mexico",
"pubdate" => "2012-05-02 15:16:00",
"seftitle" => "vane-supports-exploration-in-us-with-profits-from-mexico-1137.html",
"description" => "David Newton, CEO of Vane Minerals, talks about supporting copper & uranium exploration with profits from the company’s assets, three former Freeport-McMoRan senior exploration employees, evaluating a copper molybdenum porphyry system in New Mexico, more than 110 uranium exploration targets, & more than 1.1 million lbs of U308 (April 12).",
"link" => "http://www.proactiveinvestors.co.uk/companies/stocktube/1137/vane-supports-exploration-in-us-with-profits-from-mexico-1137.html"
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array(
"id" => "41591",
"title" => "News - VANE Minerals revenue boosted by Mexico improvement - update",
"pubdate" => "2012-04-17 14:49:00",
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<p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a>’ (<a href="/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) revenues rose sharply in 2011 as the performance of its Mexican gold and silver operations improved “significantly”.</p>
<p>Turnover increased by 44 per cent to £3.68 million (£2.56 million), with net losses for the year reducing to £1.6 million from £2.37 million.</p>
<p>In Mexico, lower than expected production from the Diablito mine was offset by higher than expected grades and recovery rates from its Ruiz joint venture. The Diablito mine is to be closed this year.</p>
<p>Total production in Mexico was 2,706oz of gold and 73,384oz silver at a at a direct production cost of $743.45 per equivalent oz gold or $16.23 per equivalent oz of silver.</p>
<p>VANE added that in the fourth quarter, Mexico’s contribution covered the entire costs of the company. </p>
<p>The company plans to use cash generated in Mexico to fund a potentially company-changing drilling programme on its copper assets in New Mexico and Arizona.</p>
<p>The group discovered what it says is a clearly identified copper-molybdenum porphyry system ay McGhee Peak at the end of 2011 and will test that and other potential targets further in the current year.</p>
<p>VANE is also exploring for uranium in the US, where it is focused on state-owned not Federal land.</p>
<p>It said today pre-feasibility work continues at the Wate uranium project, while other lead projects going into 2012 include the Rose pipe where work will focus on establishing a NI 43-101 resource.</p>
<p>David Newton, chief executive, said: “The first drilling results from McGhee Peak were encouraging, whilst the qualities of our Mexican assets can now be demonstrated over a meaningful period. </p>
<p>VANE is in a robust position both operationally and financially, with the downside risk mitigated by the cash flow generated in Mexico and the profile of our exploration assets strengthened."</p>
<p>VANE ended the year with a cash balance of £2.3 million.</p>
<p>The porphyry mineralisation discovery at McGhee Peak capped a good year for the company according to the broker Northland.</p>
<p>The positive results from the third of twenty four defined targets was an important step that highlights VANE's success with the exploration database that contains over 100 years of exploration data. </p>
<p>VANE is now drilling at its fourth US copper target, Peg Leg.</p>
<p>Shares rose 2 per cent today to 1.02 pence.</p>
</p>
</p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/41591/vane-minerals-revenue-boosted-by-mexico-improvement-update-41591.html"
),
array(
"id" => "41569",
"title" => "News - VANE Minerals revenue boosted by Mexico improvement",
"pubdate" => "2012-04-17 08:35:00",
"seftitle" => "vane-minerals-revenue-boosted-by-mexico-improvement-41569.html",
"description" => "<p> </p>
<p>Vane Minerals’ (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) revenues rose sharply in 2011 as the performance of its Mexican gold and silver operations improved “significantly”.</p>
<p>Turnover increased by 44 per cent to £3.68 million (£2.56 million), with net losses for the year reducing to £1.6 million from £2.37 million.</p>
<p>In Mexico, lower than expected production from the Diablito mine was offset by higher than expected grades and recovery rates from its Ruiz joint venture. The Diablito mine is to be closed this year.</p>
<p>Total production in Mexico was 2,706oz of gold and 73,384oz silver at a at a direct production cost of $743.45 per equivalent oz gold or $16.23 per equivalent oz of silver.</p>
<p>Vane added that in the fourth quarter, Mexico’s contribution covered the entire costs of the company. </p>
<p>The company plans to use cash generated in Mexico to fund a potentially company-changing drilling programme on its copper assets in New Mexico and Arizona.</p>
<p>The group discovered what it says is a clearly identified copper-molybdenum porphyry system ay McGhee Peak at the end of 2011 and will test that and other potential targets further in the current year.</p>
<p>VANE is also exploring for uranium in the US, where it is focused on state-owned not Federal land.</p>
<p>It said today pre-feasibility work continues at the Wate uranium project, while other lead projects going into 2012 include the Rose pipe where work will focus on establishing a NI 43-101 resource.</p>
<p>David Newton, chief executive, said: “The first drilling results from McGhee Peak were encouraging, whilst the qualities of our Mexican assets can now be demonstrated over a meaningful period. </p>
<p>VANE is in a robust position both operationally and financially, with the downside risk mitigated by the cash flow generated in Mexico and the profile of our exploration assets strengthened."</p>
<p>VANE ended the year with a cash balance of £2.3 million.</p>
<p> </p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/41569/vane-minerals-revenue-boosted-by-mexico-improvement-41569.html"
),
array(
"id" => "120417vml4503b",
"title" => "RNS press release - Final Results",
"pubdate" => "2012-04-17 07:00:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120417vml4503b/"
),
array(
"id" => "40400",
"title" => "News - VANE Minerals readies for follow-up drilling at McGhee Peak",
"pubdate" => "2012-03-19 07:24:00",
"seftitle" => "vane-minerals-readies-for-follow-up-drilling-at-mcghee-peak-40400.html",
"description" => "<p> </p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> (LON: VML) said a diamond drill rig will be used to follow up on the company’s initial drill programme at McGhee Peak in New Mexico.</p>
<p>The company has completed two rotary holes and partially drilled a third, which uncovered a copper-molybdenum porphyry system.</p>
<p>An attempt was made to re-drill the third hole, which was unsuccessful due to the poor ground conditions. </p>
<p>A diamond drill rig, which is more suitable for the conditions, will be used for the follow-up drilling programme, during which this third hole will also be completed. </p>
<p>Each hole will take three to four weeks to drill once the permits have been obtained. In the meantime, the rotary rig has been moved to VANE’s next target, Peg Leg, in Southern Arizona.</p>
<p>Chief executive David Newton said: "Although it is frustrating not to have completed the third hole at McGhee Peak to target depth, our analysis of the drilling to date has given us sufficient confidence to commit to diamond drilling there. </p>
<p>“The rotary drilling has already discovered two mineralised targets within a clearly identified porphyry system relatively inexpensively. </p>
<p>“This is a promising development for VANE and we will continue our exploration there. </p>
<p>“There are a number of copper exploration targets within our license areas and we intend to remain active in attempting to identify further porphyry systems."</p>
<p> </p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/40400/vane-minerals-readies-for-follow-up-drilling-at-mcghee-peak-40400.html"
),
array(
"id" => "120319vml5475z",
"title" => "RNS press release - Drilling Programme",
"pubdate" => "2012-03-19 07:00:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120319vml5475z/"
),
array(
"id" => "1034",
"title" => "Media files - Vane Minerals CEO says he’s excited about developments for 2012",
"pubdate" => "2012-02-23 11:14:00",
"seftitle" => "vane-minerals-ceo-says-hes-excited-about-developments-for-2012-1034.html",
"description" => "David Newton, Vane Minerals CEO (<a href="/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>), tells <a href="http://www.proactiveinvestors.co.uk/companies/overview/8792/Proactiveinvestors" class="companyPopupTrigger" rel="8792">Proactiveinvestors</a> that he hopes to be able to deliver some good news to investors this year with the drilling programme mapped out for 2012. David also talks about the work that the company has been doing in their efforts to raise the production process at the gold and silver mining operation in Mexico. ",
"link" => "http://www.proactiveinvestors.co.uk/companies/stocktube/1034/vane-minerals-ceo-says-hes-excited-about-developments-for-2012-1034.html"
),
array(
"id" => "38652",
"title" => "News - VANE Minerals gets lift as Mexico gold output picks up - UPDATE",
"pubdate" => "2012-02-06 14:11:00",
"seftitle" => "vane-minerals-gets-lift-as-mexico-gold-output-picks-up-update-38652.html",
"description" => "<p><strong>---Adds broker comment and share price---</strong><br /><br /><a href="http://proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) got a boost to its latest quarter as grades and recovery rates jumped at its Mexico gold and silver operations. <br /><br />Revenues jumped to US2.69 million in the three months to December as it produced 1,352 ounces of gold at a cost of US$585 per ounce compared to 628 ounces at a cost of US$628 in the preceding three months.<br /><br />VANE also produced 19,410 ounces of silver at a lower cost per ounce.<br /><br />The cash generated was enough to cover all of the company's costs (both its operational costs and its exploration costs) for the fourth quarter, VANE added.<br /><br />VANE is pushing ahead with the closure of the Diablito mine and work has started to remove 3,200 tonnes of high grade ore.<br /><br />David Newton, chief executive, said: “These results are very encouraging and underpin the company's decision to switch its focus to ore produced at the La Colorada Mine”<br /><br />“Whilst there can be no guarantee that these results will be replicated in the future, they demonstrate that if these production levels can be maintained then the company's Mexican operations will continue to make a significant cash contribution to the total running costs of the group," he added.<br /><br />VANE said 7,802 tonnes of ore was processed by SDA Mill during the three months to December (Q3: 8,022 tonnes) with average grades 8.06 g/t gold (Q3: 5.17g/t) and 127g/t silver (Q3: 105g/t).<br /><br />The average recovery rate was 78.2% for gold (Q3: 75.9%) and 70.9% for silver (Q3: 69.9%).<br /><br />Dr Ryan Long, at broker Northland, said today's statement, following on from Friday's positive announcement of the discovery of a porphyry deposit in the Southwest USA, could provide another boost for the company's shares.<br /><br />"As the Diabilto Mine reaches the end of its life, VANE's focus will switch to the La Colorada Mine, which is part of its JV with the Ruiz Brothers," he said.<br /><br />"The terms of the JV mean 80 per cent of revenues generated are attributable to VANE until 150 per cent of the capital costs are recovered after which 60 per cent will be attributable to VANE. <br /><br />"The production from La Colorada should continue to fund the company’s key projects in porphyry exploration in the Southwest USA and uranium deposits in Northern Arizonia and Utah."<br /><br />As at 2.10pm this afternoon, shares in <a href="http://proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> stood up 4.26 per cent, at 1.23 pence.</p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/38652/vane-minerals-gets-lift-as-mexico-gold-output-picks-up-update-38652.html"
),
array(
"id" => "38632",
"title" => "News - VANE Minerals gets lift as Mexico gold output picks up ",
"pubdate" => "2012-02-06 08:50:00",
"seftitle" => "vane-minerals-gets-lift-as-mexico-gold-output-picks-up--38632.html",
"description" => "<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) got a boost to its latest quarter as grades and recovery rates jumped at its Mexico gold and silver operations. </p>
<p>Revenues jumped to US2.69 million in the three months to December as it produced 1,352 ounces of gold at a cost of US$585 per ounce compared to 628 ounces at a cost of US$628 in the preceding three months.</p>
<p>VANE also produced 19,410 ounces of silver at a lower cost per ounce.</p>
<p>The cash generated was enough to cover all of the company's costs (both its operational costs and its exploration costs) for the fourth quarter, VANE added.</p>
<p>VANE is pushing ahead with the closure of the Diablito mine and work has started to remove 3,200 tonnes of high grade ore.</p>
<p>David Newton, chief executive, said: “These results are very encouraging and underpin the company's decision to switch its focus to ore produced at the La Colorada Mine”</p>
<p>“Whilst there can be no guarantee that these results will be replicated in the future, they demonstrate that if these production levels can be maintained then the company's Mexican operations will continue to make a significant cash contribution to the total running costs of the group," he added.</p>
<p>VANE said 7,802 tonnes of ore was processed by SDA Mill during the three months to December (Q3: 8,022 tonnes) with average grades 8.06 g/t gold (Q3: 5.17g/t) and 127g/t silver (Q3: 105g/t).</p>
<p>The average recovery rate was 78.2% for gold (Q3: 75.9%) and 70.9% for silver (Q3: 69.9%).</p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/38632/vane-minerals-gets-lift-as-mexico-gold-output-picks-up--38632.html"
),
array(
"id" => "120206vml8243w",
"title" => "RNS press release - Mexican Gold & Silver Operations Update",
"pubdate" => "2012-02-06 07:01:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120206vml8243w/"
),
array(
"id" => "38558",
"title" => "News - VANE Minerals' US copper find is a significant milestone, says broker",
"pubdate" => "2012-02-03 08:38:00",
"seftitle" => "vane-minerals-us-copper-find-is-a-significant-milestone-says-broker-38558.html",
"description" => "<p>VANE Minerals’ discovery of copper at its McGhee Peak acreage is a significant milestone but much more work needs to be done, said broker Northland.</p>",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/38558/vane-minerals-us-copper-find-is-a-significant-milestone-says-broker-38558.html"
),
array(
"id" => "38541",
"title" => "News - VANE Minerals finds copper in New Mexico",
"pubdate" => "2012-02-03 07:40:00",
"seftitle" => "vane-minerals-finds-copper-in-new-mexico-38541.html",
"description" => "<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) said today recent drilling on its McGhee Peak project in New Mexico had discovered a copper-molybdenum porphyry system.</p>
<p>The two drill holes were a mile apart and had found two targets within a clearly identified porphyry system, containing copper, molybdenum and zinc, it added.</p>
<p>The drills encountered copper values in the range of 300-600 ppm, with zinc values greater than 200 ppm.</p>
<p>One hole showing visible molybdenite is being re-drilled after caving while there will be further additional drilling to determine if economically viable higher grades are present.</p>
<p>David Newton, VANE’s chief executive, said: "These are encouraging results, showing a mineralised porphyry and confirming our geological theory that the porphyry systems that have been successfully discovered and mined at surface in this part of the US, also occur at depth.“</p>
<p>“Further drilling is required over the coming months to confirm whether this porphyry has economic potential. This successful drilling result at what is only our third project on this very favourable mineral trend gives us confidence of further exploration success in our remaining projects, " he added.</p>
<p>VANE added that the drill currently working at McGhee Peak will be moved to its next copper target once the re-drilling of hole MP-1 is completed as additional drill holes will require permitting. Permitting of the additional holes at McGhee Peak is underway.</p>
<p>VANE’s focus is the porphyry copper systems of the south-west US, and its targets on either side of the Arizona-New Mexico border. This is an area that is home to 60 per cent of all US production of the metal.</p>
<p>McGhee Peak is located on the Hillsboro-Chino-Tyrone-Bisbee porphyry mineral trend in southwest New Mexico.</p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/38541/vane-minerals-finds-copper-in-new-mexico-38541.html"
),
array(
"id" => "120203vml7207w",
"title" => "RNS press release - Copper exploration drilling update",
"pubdate" => "2012-02-03 07:01:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120203vml7207w/"
),
array(
"id" => "120203vml7312w",
"title" => "RNS press release - Appointment of Joint Broker",
"pubdate" => "2012-02-03 07:00:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120203vml7312w/"
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<item>
<title><![CDATA[News - VANE Minerals' convertible deal impressive says broker - update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/43207/vane-minerals-convertible-deal-impressive-says-broker-update-43207.html</link>
<description><![CDATA[<p> </p>
<p><strong>Adds broker comment</strong></p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) has renegotiated the terms of two outstanding convertible loan notes to limit possible dilution to other shareholders.</p>
<p>VANE will now repay a £500,000 note held by City Natural Resources High Yield Trust this month rather than September, while repayment of a £1 million note held by Geiger Counter Ltd has been extended until 2017.</p>
<p>Both City Natural Resources and Geiger Counter are funds managed by New City Investment Managers.</p>
<p>Geiger Counter’s loan note will now be convertible into 80 million ordinary at 1.25p, a 34 per cent premium to yesterday’s close. Shareholders have to approve the new loan note, which will pay interest at 8 per cent.</p>
<p>David Newton, VANE’s chief executive, said he was delighted with the new agreement.</p>
<p>“The maximum dilution to existing shareholders would equate to only 15.3% of the enlarged share capital of the Company and the agreement allows the company to continue to devote its current cash resources to the development of its highly promising copper and uranium exploration assets."</p>
<p>VANE announced last year it had found a copper-molybdenum porphyry system on its acreage in New Mexico, an area that has produced huge amounts of the metals in the past. </p>
<p>The company also has gold and silver mining operations in Mexico that are providing the cash to fund its copper exploration.</p>
<p>It had cash balances of £2.30 million at the end of December.</p>
<p>Broker Northland described the renegotiations of the convertible as impressive.</p>
<p>“The new loan note will enable the company to continue to utilise the revenue generated from its Mexican gold operations to explore its prospective copper porphyry and uranium projects in the US,” it said.</p>
<p>Shares rose 9 per cent to 1.02 pence.</p>
<div><br /></div>
<p> </p> ]]></description>
<pubDate>Wed, 23 May 2012 12:57:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/43207/vane-minerals-convertible-deal-impressive-says-broker-update-43207.html</guid>
</item>
<item>
<title><![CDATA[News - VANE Minerals tidies up convertible loan positions to limit dilution ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/43181/vane-minerals-tidies-up-convertible-loan-positions-to-limit-dilution-43181.html</link>
<description><![CDATA[<p> </p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) has renegotiated the terms of two outstanding convertible loan notes to limit possible dilution to other shareholders.</p>
<p>VANE will now repay a £500,000 note held by City Natural Resources High Yield Trust this month rather than September, while repayment of a £1 million note held by Geiger Counter Ltd has been extended until 2017.</p>
<p>Both City Natural Resources and Geiger Counter are funds managed by New City Investment Managers.</p>
<p>Geiger Counter’s loan note will now be convertible into 80 million VANE ordinary at 1.25p, a 34 per cent premium to yesterday’s close. Shareholders have to approve the new loan note, which will pay interest at 8 per cent.</p>
<p>David Newton, VANE’s chief executive, said he was delighted with the new agreement.</p>
<p>“The maximum dilution to existing shareholders would equate to only 15.3% of the enlarged share capital of the Company and the agreement allows the company to continue to devote its current cash resources to the development of its highly promising copper and uranium exploration assets."</p>
<p>VANE announced last year it had found a copper-molybdenum porphyry system on its acreage in New Mexico, an area that has produced huge amounts of the metals in the past. </p>
<p>The company also has gold and silver mining operations in Mexico that are providing the cash to fund its copper exploration.</p>
<p>VANE had cash balances of £2.30 million at the end of December.</p>
<p> </p> ]]></description>
<pubDate>Wed, 23 May 2012 07:36:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/43181/vane-minerals-tidies-up-convertible-loan-positions-to-limit-dilution-43181.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Convertible Loan Notes ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120523vml8980d/</link>
<description><![CDATA[]]></description>
<pubDate>Wed, 23 May 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120523vml8980d/</guid>
</item>
<item>
<title><![CDATA[News - Vane Minerals says strong performance continuing in Mexico - update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42752/vane-minerals-says-strong-performance-continuing-in-mexico-update-42752.html</link>
<description><![CDATA[<p>
<p><strong>adds broker comment</strong></p>
<p> </p>
<p>Vane Minerals (<a href="/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) said the increased revenue from its Mexican operations experienced in the fourth quarter 2011 has continued throughout the first quarter of 2012.</p>
<p>It generated revenue of US$2.61 million in the quarter, broadly in line with the US$2.69 million reported for the fourth quarter.</p>
<p>Chief executive David Newton said: "Q1 production continues to meet forecasts and our in-house evaluation work during the period indicates security of production moving forward.</p>
<p>“Our Mexican operations continue to fund our copper and uranium exploration programs on which we will provide updates as appropriate."</p>
<p>Vane produced 1,180 ounces of gold and 26,164oz of silver in the first quarter at a direct production cost of US$582 per gold ounce or US$10.7 per silver ounce.</p>
<p>This compares to a fourth quarter performance of 1,352oz gold and 19,410oz silver produced at US$585 per gold ounce or US$10.8 per silver ounce.</p>
<p>In addition to the normal production from the La Colorada mine, the company is processing higher grade ore that it removed from the Diablito mine ahead of its planned closure later this year.</p>
<p>The first revenue from this additional production is expected to be recognised in the second quarter of the current year.</p>
<p>Broker Northland added the additional 1.6kt of high grade ore (17.9g/t gold and 1.8g/t silver) from the Diabilto Mine will be processed at a rate of 80t per month, resulting in c.100oz gold extra per quarter.</p>
<p>At today’s gold price of about $1,580/oz, it estimates this extra production would be worth around $158,000 per quarter until September 2014 (about $1m additional revenue in total). </p>
<p>A further 1,600t of lower grade ore (2g/t gold and 200 g/t silver) from Diabilto is to be stockpiled.</p>
<p>Vane already funds all its copper porphyry and uranium exploration from the operations in Mexico and this additional cash is likely to be utilised on these exploration projects, Northland said.</p>
<div><br /></div>
</p> ]]></description>
<pubDate>Mon, 14 May 2012 11:56:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42752/vane-minerals-says-strong-performance-continuing-in-mexico-update-42752.html</guid>
</item>
<item>
<title><![CDATA[News - Vane Minerals says strong Q4 performance continued in Q1 2012 ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42725/vane-minerals-says-strong-q4-performance-continued-in-q1-2012-42725.html</link>
<description><![CDATA[<p>Vane Minerals (<a href="/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) said the increased revenue from its Mexican operations experienced in the fourth quarter 2011 has continued throughout the first quarter of 2012. <br /><br />It generated revenue of US$2.61 million in the quarter, broadly in line with the US$2.69 million reported for the fourth quarter.<br /><br />Chief executive David Newton said: "Q1 production continues to meet forecasts and our in-house evaluation work during the period indicates security of production moving forward. <br /><br />“Our Mexican operations continue to fund our copper and uranium exploration programs on which we will provide updates as appropriate."<br /><br />Vane produced 1,180 ounces of gold and 26,164oz of silver in the first quarter at a direct production cost of US$582 per gold ounce or US$10.7 per silver ounce. <br /><br />This compares to a fourth quarter performance of 1,352oz gold and 19,410oz silver produced at US$585 per gold ounce or US$10.8 per silver ounce.<br /><br />In addition to the normal production from the La Colorada mine, the company is processing higher grade ore that it removed from the Diablito mine ahead of its planned closure later this year.<br /><br />The first revenue from this additional production is expected to be recognised in the second quarter of the current year.</p> ]]></description>
<pubDate>Mon, 14 May 2012 08:04:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42725/vane-minerals-says-strong-q4-performance-continued-in-q1-2012-42725.html</guid>
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<title><![CDATA[RNS press release - Mexican Gold & Silver Quarterly Operations Update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/1205142258d/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 14 May 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/1205142258d/</guid>
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<title><![CDATA[Media files - Vane supports exploration in US with profits from Mexico ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/stocktube/1137/vane-supports-exploration-in-us-with-profits-from-mexico-1137.html</link>
<description><![CDATA[David Newton, CEO of Vane Minerals, talks about supporting copper & uranium exploration with profits from the company’s assets, three former Freeport-McMoRan senior exploration employees, evaluating a copper molybdenum porphyry system in New Mexico, more than 110 uranium exploration targets, & more than 1.1 million lbs of U308 (April 12).]]></description>
<pubDate>Wed, 02 May 2012 15:16:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/stocktube/1137/vane-supports-exploration-in-us-with-profits-from-mexico-1137.html</guid>
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<title><![CDATA[News - VANE Minerals revenue boosted by Mexico improvement - update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41591/vane-minerals-revenue-boosted-by-mexico-improvement-update-41591.html</link>
<description><![CDATA[<p>
<p><strong>- adds broker comment</strong></p>
<p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a>’ (<a href="/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) revenues rose sharply in 2011 as the performance of its Mexican gold and silver operations improved “significantly”.</p>
<p>Turnover increased by 44 per cent to £3.68 million (£2.56 million), with net losses for the year reducing to £1.6 million from £2.37 million.</p>
<p>In Mexico, lower than expected production from the Diablito mine was offset by higher than expected grades and recovery rates from its Ruiz joint venture. The Diablito mine is to be closed this year.</p>
<p>Total production in Mexico was 2,706oz of gold and 73,384oz silver at a at a direct production cost of $743.45 per equivalent oz gold or $16.23 per equivalent oz of silver.</p>
<p>VANE added that in the fourth quarter, Mexico’s contribution covered the entire costs of the company. </p>
<p>The company plans to use cash generated in Mexico to fund a potentially company-changing drilling programme on its copper assets in New Mexico and Arizona.</p>
<p>The group discovered what it says is a clearly identified copper-molybdenum porphyry system ay McGhee Peak at the end of 2011 and will test that and other potential targets further in the current year.</p>
<p>VANE is also exploring for uranium in the US, where it is focused on state-owned not Federal land.</p>
<p>It said today pre-feasibility work continues at the Wate uranium project, while other lead projects going into 2012 include the Rose pipe where work will focus on establishing a NI 43-101 resource.</p>
<p>David Newton, chief executive, said: “The first drilling results from McGhee Peak were encouraging, whilst the qualities of our Mexican assets can now be demonstrated over a meaningful period. </p>
<p>VANE is in a robust position both operationally and financially, with the downside risk mitigated by the cash flow generated in Mexico and the profile of our exploration assets strengthened."</p>
<p>VANE ended the year with a cash balance of £2.3 million.</p>
<p>The porphyry mineralisation discovery at McGhee Peak capped a good year for the company according to the broker Northland.</p>
<p>The positive results from the third of twenty four defined targets was an important step that highlights VANE's success with the exploration database that contains over 100 years of exploration data. </p>
<p>VANE is now drilling at its fourth US copper target, Peg Leg.</p>
<p>Shares rose 2 per cent today to 1.02 pence.</p>
</p>
</p> ]]></description>
<pubDate>Tue, 17 Apr 2012 14:49:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/41591/vane-minerals-revenue-boosted-by-mexico-improvement-update-41591.html</guid>
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<title><![CDATA[News - VANE Minerals revenue boosted by Mexico improvement ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41569/vane-minerals-revenue-boosted-by-mexico-improvement-41569.html</link>
<description><![CDATA[<p> </p>
<p>Vane Minerals’ (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) revenues rose sharply in 2011 as the performance of its Mexican gold and silver operations improved “significantly”.</p>
<p>Turnover increased by 44 per cent to £3.68 million (£2.56 million), with net losses for the year reducing to £1.6 million from £2.37 million.</p>
<p>In Mexico, lower than expected production from the Diablito mine was offset by higher than expected grades and recovery rates from its Ruiz joint venture. The Diablito mine is to be closed this year.</p>
<p>Total production in Mexico was 2,706oz of gold and 73,384oz silver at a at a direct production cost of $743.45 per equivalent oz gold or $16.23 per equivalent oz of silver.</p>
<p>Vane added that in the fourth quarter, Mexico’s contribution covered the entire costs of the company. </p>
<p>The company plans to use cash generated in Mexico to fund a potentially company-changing drilling programme on its copper assets in New Mexico and Arizona.</p>
<p>The group discovered what it says is a clearly identified copper-molybdenum porphyry system ay McGhee Peak at the end of 2011 and will test that and other potential targets further in the current year.</p>
<p>VANE is also exploring for uranium in the US, where it is focused on state-owned not Federal land.</p>
<p>It said today pre-feasibility work continues at the Wate uranium project, while other lead projects going into 2012 include the Rose pipe where work will focus on establishing a NI 43-101 resource.</p>
<p>David Newton, chief executive, said: “The first drilling results from McGhee Peak were encouraging, whilst the qualities of our Mexican assets can now be demonstrated over a meaningful period. </p>
<p>VANE is in a robust position both operationally and financially, with the downside risk mitigated by the cash flow generated in Mexico and the profile of our exploration assets strengthened."</p>
<p>VANE ended the year with a cash balance of £2.3 million.</p>
<p> </p> ]]></description>
<pubDate>Tue, 17 Apr 2012 08:35:00 +0100</pubDate>
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<title><![CDATA[RNS press release - Final Results ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120417vml4503b/</link>
<description><![CDATA[]]></description>
<pubDate>Tue, 17 Apr 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120417vml4503b/</guid>
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<title><![CDATA[News - VANE Minerals readies for follow-up drilling at McGhee Peak ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/40400/vane-minerals-readies-for-follow-up-drilling-at-mcghee-peak-40400.html</link>
<description><![CDATA[<p> </p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> (LON: VML) said a diamond drill rig will be used to follow up on the company’s initial drill programme at McGhee Peak in New Mexico.</p>
<p>The company has completed two rotary holes and partially drilled a third, which uncovered a copper-molybdenum porphyry system.</p>
<p>An attempt was made to re-drill the third hole, which was unsuccessful due to the poor ground conditions. </p>
<p>A diamond drill rig, which is more suitable for the conditions, will be used for the follow-up drilling programme, during which this third hole will also be completed. </p>
<p>Each hole will take three to four weeks to drill once the permits have been obtained. In the meantime, the rotary rig has been moved to VANE’s next target, Peg Leg, in Southern Arizona.</p>
<p>Chief executive David Newton said: "Although it is frustrating not to have completed the third hole at McGhee Peak to target depth, our analysis of the drilling to date has given us sufficient confidence to commit to diamond drilling there. </p>
<p>“The rotary drilling has already discovered two mineralised targets within a clearly identified porphyry system relatively inexpensively. </p>
<p>“This is a promising development for VANE and we will continue our exploration there. </p>
<p>“There are a number of copper exploration targets within our license areas and we intend to remain active in attempting to identify further porphyry systems."</p>
<p> </p> ]]></description>
<pubDate>Mon, 19 Mar 2012 07:24:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/40400/vane-minerals-readies-for-follow-up-drilling-at-mcghee-peak-40400.html</guid>
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<title><![CDATA[RNS press release - Drilling Programme ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120319vml5475z/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 19 Mar 2012 07:00:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120319vml5475z/</guid>
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<item>
<title><![CDATA[Media files - Vane Minerals CEO says he’s excited about developments for 2012 ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/stocktube/1034/vane-minerals-ceo-says-hes-excited-about-developments-for-2012-1034.html</link>
<description><![CDATA[David Newton, Vane Minerals CEO (<a href="/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>), tells <a href="http://www.proactiveinvestors.co.uk/companies/overview/8792/Proactiveinvestors" class="companyPopupTrigger" rel="8792">Proactiveinvestors</a> that he hopes to be able to deliver some good news to investors this year with the drilling programme mapped out for 2012. David also talks about the work that the company has been doing in their efforts to raise the production process at the gold and silver mining operation in Mexico. ]]></description>
<pubDate>Thu, 23 Feb 2012 11:14:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/stocktube/1034/vane-minerals-ceo-says-hes-excited-about-developments-for-2012-1034.html</guid>
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<title><![CDATA[News - VANE Minerals gets lift as Mexico gold output picks up - UPDATE ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/38652/vane-minerals-gets-lift-as-mexico-gold-output-picks-up-update-38652.html</link>
<description><![CDATA[<p><strong>---Adds broker comment and share price---</strong><br /><br /><a href="http://proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) got a boost to its latest quarter as grades and recovery rates jumped at its Mexico gold and silver operations. <br /><br />Revenues jumped to US2.69 million in the three months to December as it produced 1,352 ounces of gold at a cost of US$585 per ounce compared to 628 ounces at a cost of US$628 in the preceding three months.<br /><br />VANE also produced 19,410 ounces of silver at a lower cost per ounce.<br /><br />The cash generated was enough to cover all of the company's costs (both its operational costs and its exploration costs) for the fourth quarter, VANE added.<br /><br />VANE is pushing ahead with the closure of the Diablito mine and work has started to remove 3,200 tonnes of high grade ore.<br /><br />David Newton, chief executive, said: “These results are very encouraging and underpin the company's decision to switch its focus to ore produced at the La Colorada Mine”<br /><br />“Whilst there can be no guarantee that these results will be replicated in the future, they demonstrate that if these production levels can be maintained then the company's Mexican operations will continue to make a significant cash contribution to the total running costs of the group," he added.<br /><br />VANE said 7,802 tonnes of ore was processed by SDA Mill during the three months to December (Q3: 8,022 tonnes) with average grades 8.06 g/t gold (Q3: 5.17g/t) and 127g/t silver (Q3: 105g/t).<br /><br />The average recovery rate was 78.2% for gold (Q3: 75.9%) and 70.9% for silver (Q3: 69.9%).<br /><br />Dr Ryan Long, at broker Northland, said today's statement, following on from Friday's positive announcement of the discovery of a porphyry deposit in the Southwest USA, could provide another boost for the company's shares.<br /><br />"As the Diabilto Mine reaches the end of its life, VANE's focus will switch to the La Colorada Mine, which is part of its JV with the Ruiz Brothers," he said.<br /><br />"The terms of the JV mean 80 per cent of revenues generated are attributable to VANE until 150 per cent of the capital costs are recovered after which 60 per cent will be attributable to VANE. <br /><br />"The production from La Colorada should continue to fund the company’s key projects in porphyry exploration in the Southwest USA and uranium deposits in Northern Arizonia and Utah."<br /><br />As at 2.10pm this afternoon, shares in <a href="http://proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> stood up 4.26 per cent, at 1.23 pence.</p> ]]></description>
<pubDate>Mon, 06 Feb 2012 14:11:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/38652/vane-minerals-gets-lift-as-mexico-gold-output-picks-up-update-38652.html</guid>
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<title><![CDATA[News - VANE Minerals gets lift as Mexico gold output picks up ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/38632/vane-minerals-gets-lift-as-mexico-gold-output-picks-up--38632.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) got a boost to its latest quarter as grades and recovery rates jumped at its Mexico gold and silver operations. </p>
<p>Revenues jumped to US2.69 million in the three months to December as it produced 1,352 ounces of gold at a cost of US$585 per ounce compared to 628 ounces at a cost of US$628 in the preceding three months.</p>
<p>VANE also produced 19,410 ounces of silver at a lower cost per ounce.</p>
<p>The cash generated was enough to cover all of the company's costs (both its operational costs and its exploration costs) for the fourth quarter, VANE added.</p>
<p>VANE is pushing ahead with the closure of the Diablito mine and work has started to remove 3,200 tonnes of high grade ore.</p>
<p>David Newton, chief executive, said: “These results are very encouraging and underpin the company's decision to switch its focus to ore produced at the La Colorada Mine”</p>
<p>“Whilst there can be no guarantee that these results will be replicated in the future, they demonstrate that if these production levels can be maintained then the company's Mexican operations will continue to make a significant cash contribution to the total running costs of the group," he added.</p>
<p>VANE said 7,802 tonnes of ore was processed by SDA Mill during the three months to December (Q3: 8,022 tonnes) with average grades 8.06 g/t gold (Q3: 5.17g/t) and 127g/t silver (Q3: 105g/t).</p>
<p>The average recovery rate was 78.2% for gold (Q3: 75.9%) and 70.9% for silver (Q3: 69.9%).</p> ]]></description>
<pubDate>Mon, 06 Feb 2012 08:50:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/38632/vane-minerals-gets-lift-as-mexico-gold-output-picks-up--38632.html</guid>
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<title><![CDATA[RNS press release - Mexican Gold & Silver Operations Update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120206vml8243w/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 06 Feb 2012 07:01:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120206vml8243w/</guid>
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<title><![CDATA[News - VANE Minerals' US copper find is a significant milestone, says broker ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/38558/vane-minerals-us-copper-find-is-a-significant-milestone-says-broker-38558.html</link>
<description><![CDATA[<p>VANE Minerals’ discovery of copper at its McGhee Peak acreage is a significant milestone but much more work needs to be done, said broker Northland.</p>]]></description>
<pubDate>Fri, 03 Feb 2012 08:38:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/38558/vane-minerals-us-copper-find-is-a-significant-milestone-says-broker-38558.html</guid>
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<title><![CDATA[News - VANE Minerals finds copper in New Mexico ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/38541/vane-minerals-finds-copper-in-new-mexico-38541.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) said today recent drilling on its McGhee Peak project in New Mexico had discovered a copper-molybdenum porphyry system.</p>
<p>The two drill holes were a mile apart and had found two targets within a clearly identified porphyry system, containing copper, molybdenum and zinc, it added.</p>
<p>The drills encountered copper values in the range of 300-600 ppm, with zinc values greater than 200 ppm.</p>
<p>One hole showing visible molybdenite is being re-drilled after caving while there will be further additional drilling to determine if economically viable higher grades are present.</p>
<p>David Newton, VANE’s chief executive, said: "These are encouraging results, showing a mineralised porphyry and confirming our geological theory that the porphyry systems that have been successfully discovered and mined at surface in this part of the US, also occur at depth.“</p>
<p>“Further drilling is required over the coming months to confirm whether this porphyry has economic potential. This successful drilling result at what is only our third project on this very favourable mineral trend gives us confidence of further exploration success in our remaining projects, " he added.</p>
<p>VANE added that the drill currently working at McGhee Peak will be moved to its next copper target once the re-drilling of hole MP-1 is completed as additional drill holes will require permitting. Permitting of the additional holes at McGhee Peak is underway.</p>
<p>VANE’s focus is the porphyry copper systems of the south-west US, and its targets on either side of the Arizona-New Mexico border. This is an area that is home to 60 per cent of all US production of the metal.</p>
<p>McGhee Peak is located on the Hillsboro-Chino-Tyrone-Bisbee porphyry mineral trend in southwest New Mexico.</p> ]]></description>
<pubDate>Fri, 03 Feb 2012 07:40:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/38541/vane-minerals-finds-copper-in-new-mexico-38541.html</guid>
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<title><![CDATA[RNS press release - Copper exploration drilling update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120203vml7207w/</link>
<description><![CDATA[]]></description>
<pubDate>Fri, 03 Feb 2012 07:01:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120203vml7207w/</guid>
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<title><![CDATA[RNS press release - Appointment of Joint Broker ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120203vml7312w/</link>
<description><![CDATA[]]></description>
<pubDate>Fri, 03 Feb 2012 07:00:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120203vml7312w/</guid>
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<title>Proactiveinvestors United Kingdom VANE Minerals</title>
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<title><![CDATA[News - VANE Minerals' convertible deal impressive says broker - update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/43207/vane-minerals-convertible-deal-impressive-says-broker-update-43207.html</link>
<description><![CDATA[<p> </p>
<p><strong>Adds broker comment</strong></p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) has renegotiated the terms of two outstanding convertible loan notes to limit possible dilution to other shareholders.</p>
<p>VANE will now repay a £500,000 note held by City Natural Resources High Yield Trust this month rather than September, while repayment of a £1 million note held by Geiger Counter Ltd has been extended until 2017.</p>
<p>Both City Natural Resources and Geiger Counter are funds managed by New City Investment Managers.</p>
<p>Geiger Counter’s loan note will now be convertible into 80 million ordinary at 1.25p, a 34 per cent premium to yesterday’s close. Shareholders have to approve the new loan note, which will pay interest at 8 per cent.</p>
<p>David Newton, VANE’s chief executive, said he was delighted with the new agreement.</p>
<p>“The maximum dilution to existing shareholders would equate to only 15.3% of the enlarged share capital of the Company and the agreement allows the company to continue to devote its current cash resources to the development of its highly promising copper and uranium exploration assets."</p>
<p>VANE announced last year it had found a copper-molybdenum porphyry system on its acreage in New Mexico, an area that has produced huge amounts of the metals in the past. </p>
<p>The company also has gold and silver mining operations in Mexico that are providing the cash to fund its copper exploration.</p>
<p>It had cash balances of £2.30 million at the end of December.</p>
<p>Broker Northland described the renegotiations of the convertible as impressive.</p>
<p>“The new loan note will enable the company to continue to utilise the revenue generated from its Mexican gold operations to explore its prospective copper porphyry and uranium projects in the US,” it said.</p>
<p>Shares rose 9 per cent to 1.02 pence.</p>
<div><br /></div>
<p> </p> ]]></description>
<pubDate>Wed, 23 May 2012 12:57:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/43207/vane-minerals-convertible-deal-impressive-says-broker-update-43207.html</guid>
</item>
<item>
<title><![CDATA[News - VANE Minerals tidies up convertible loan positions to limit dilution ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/43181/vane-minerals-tidies-up-convertible-loan-positions-to-limit-dilution-43181.html</link>
<description><![CDATA[<p> </p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) has renegotiated the terms of two outstanding convertible loan notes to limit possible dilution to other shareholders.</p>
<p>VANE will now repay a £500,000 note held by City Natural Resources High Yield Trust this month rather than September, while repayment of a £1 million note held by Geiger Counter Ltd has been extended until 2017.</p>
<p>Both City Natural Resources and Geiger Counter are funds managed by New City Investment Managers.</p>
<p>Geiger Counter’s loan note will now be convertible into 80 million VANE ordinary at 1.25p, a 34 per cent premium to yesterday’s close. Shareholders have to approve the new loan note, which will pay interest at 8 per cent.</p>
<p>David Newton, VANE’s chief executive, said he was delighted with the new agreement.</p>
<p>“The maximum dilution to existing shareholders would equate to only 15.3% of the enlarged share capital of the Company and the agreement allows the company to continue to devote its current cash resources to the development of its highly promising copper and uranium exploration assets."</p>
<p>VANE announced last year it had found a copper-molybdenum porphyry system on its acreage in New Mexico, an area that has produced huge amounts of the metals in the past. </p>
<p>The company also has gold and silver mining operations in Mexico that are providing the cash to fund its copper exploration.</p>
<p>VANE had cash balances of £2.30 million at the end of December.</p>
<p> </p> ]]></description>
<pubDate>Wed, 23 May 2012 07:36:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/43181/vane-minerals-tidies-up-convertible-loan-positions-to-limit-dilution-43181.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Convertible Loan Notes ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120523vml8980d/</link>
<description><![CDATA[]]></description>
<pubDate>Wed, 23 May 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120523vml8980d/</guid>
</item>
<item>
<title><![CDATA[News - Vane Minerals says strong performance continuing in Mexico - update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42752/vane-minerals-says-strong-performance-continuing-in-mexico-update-42752.html</link>
<description><![CDATA[<p>
<p><strong>adds broker comment</strong></p>
<p> </p>
<p>Vane Minerals (<a href="/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) said the increased revenue from its Mexican operations experienced in the fourth quarter 2011 has continued throughout the first quarter of 2012.</p>
<p>It generated revenue of US$2.61 million in the quarter, broadly in line with the US$2.69 million reported for the fourth quarter.</p>
<p>Chief executive David Newton said: "Q1 production continues to meet forecasts and our in-house evaluation work during the period indicates security of production moving forward.</p>
<p>“Our Mexican operations continue to fund our copper and uranium exploration programs on which we will provide updates as appropriate."</p>
<p>Vane produced 1,180 ounces of gold and 26,164oz of silver in the first quarter at a direct production cost of US$582 per gold ounce or US$10.7 per silver ounce.</p>
<p>This compares to a fourth quarter performance of 1,352oz gold and 19,410oz silver produced at US$585 per gold ounce or US$10.8 per silver ounce.</p>
<p>In addition to the normal production from the La Colorada mine, the company is processing higher grade ore that it removed from the Diablito mine ahead of its planned closure later this year.</p>
<p>The first revenue from this additional production is expected to be recognised in the second quarter of the current year.</p>
<p>Broker Northland added the additional 1.6kt of high grade ore (17.9g/t gold and 1.8g/t silver) from the Diabilto Mine will be processed at a rate of 80t per month, resulting in c.100oz gold extra per quarter.</p>
<p>At today’s gold price of about $1,580/oz, it estimates this extra production would be worth around $158,000 per quarter until September 2014 (about $1m additional revenue in total). </p>
<p>A further 1,600t of lower grade ore (2g/t gold and 200 g/t silver) from Diabilto is to be stockpiled.</p>
<p>Vane already funds all its copper porphyry and uranium exploration from the operations in Mexico and this additional cash is likely to be utilised on these exploration projects, Northland said.</p>
<div><br /></div>
</p> ]]></description>
<pubDate>Mon, 14 May 2012 11:56:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42752/vane-minerals-says-strong-performance-continuing-in-mexico-update-42752.html</guid>
</item>
<item>
<title><![CDATA[News - Vane Minerals says strong Q4 performance continued in Q1 2012 ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42725/vane-minerals-says-strong-q4-performance-continued-in-q1-2012-42725.html</link>
<description><![CDATA[<p>Vane Minerals (<a href="/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) said the increased revenue from its Mexican operations experienced in the fourth quarter 2011 has continued throughout the first quarter of 2012. <br /><br />It generated revenue of US$2.61 million in the quarter, broadly in line with the US$2.69 million reported for the fourth quarter.<br /><br />Chief executive David Newton said: "Q1 production continues to meet forecasts and our in-house evaluation work during the period indicates security of production moving forward. <br /><br />“Our Mexican operations continue to fund our copper and uranium exploration programs on which we will provide updates as appropriate."<br /><br />Vane produced 1,180 ounces of gold and 26,164oz of silver in the first quarter at a direct production cost of US$582 per gold ounce or US$10.7 per silver ounce. <br /><br />This compares to a fourth quarter performance of 1,352oz gold and 19,410oz silver produced at US$585 per gold ounce or US$10.8 per silver ounce.<br /><br />In addition to the normal production from the La Colorada mine, the company is processing higher grade ore that it removed from the Diablito mine ahead of its planned closure later this year.<br /><br />The first revenue from this additional production is expected to be recognised in the second quarter of the current year.</p> ]]></description>
<pubDate>Mon, 14 May 2012 08:04:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42725/vane-minerals-says-strong-q4-performance-continued-in-q1-2012-42725.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Mexican Gold & Silver Quarterly Operations Update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/1205142258d/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 14 May 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/1205142258d/</guid>
</item>
<item>
<title><![CDATA[Media files - Vane supports exploration in US with profits from Mexico ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/stocktube/1137/vane-supports-exploration-in-us-with-profits-from-mexico-1137.html</link>
<description><![CDATA[David Newton, CEO of Vane Minerals, talks about supporting copper & uranium exploration with profits from the company’s assets, three former Freeport-McMoRan senior exploration employees, evaluating a copper molybdenum porphyry system in New Mexico, more than 110 uranium exploration targets, & more than 1.1 million lbs of U308 (April 12).]]></description>
<pubDate>Wed, 02 May 2012 15:16:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/stocktube/1137/vane-supports-exploration-in-us-with-profits-from-mexico-1137.html</guid>
</item>
<item>
<title><![CDATA[News - VANE Minerals revenue boosted by Mexico improvement - update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41591/vane-minerals-revenue-boosted-by-mexico-improvement-update-41591.html</link>
<description><![CDATA[<p>
<p><strong>- adds broker comment</strong></p>
<p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a>’ (<a href="/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) revenues rose sharply in 2011 as the performance of its Mexican gold and silver operations improved “significantly”.</p>
<p>Turnover increased by 44 per cent to £3.68 million (£2.56 million), with net losses for the year reducing to £1.6 million from £2.37 million.</p>
<p>In Mexico, lower than expected production from the Diablito mine was offset by higher than expected grades and recovery rates from its Ruiz joint venture. The Diablito mine is to be closed this year.</p>
<p>Total production in Mexico was 2,706oz of gold and 73,384oz silver at a at a direct production cost of $743.45 per equivalent oz gold or $16.23 per equivalent oz of silver.</p>
<p>VANE added that in the fourth quarter, Mexico’s contribution covered the entire costs of the company. </p>
<p>The company plans to use cash generated in Mexico to fund a potentially company-changing drilling programme on its copper assets in New Mexico and Arizona.</p>
<p>The group discovered what it says is a clearly identified copper-molybdenum porphyry system ay McGhee Peak at the end of 2011 and will test that and other potential targets further in the current year.</p>
<p>VANE is also exploring for uranium in the US, where it is focused on state-owned not Federal land.</p>
<p>It said today pre-feasibility work continues at the Wate uranium project, while other lead projects going into 2012 include the Rose pipe where work will focus on establishing a NI 43-101 resource.</p>
<p>David Newton, chief executive, said: “The first drilling results from McGhee Peak were encouraging, whilst the qualities of our Mexican assets can now be demonstrated over a meaningful period. </p>
<p>VANE is in a robust position both operationally and financially, with the downside risk mitigated by the cash flow generated in Mexico and the profile of our exploration assets strengthened."</p>
<p>VANE ended the year with a cash balance of £2.3 million.</p>
<p>The porphyry mineralisation discovery at McGhee Peak capped a good year for the company according to the broker Northland.</p>
<p>The positive results from the third of twenty four defined targets was an important step that highlights VANE's success with the exploration database that contains over 100 years of exploration data. </p>
<p>VANE is now drilling at its fourth US copper target, Peg Leg.</p>
<p>Shares rose 2 per cent today to 1.02 pence.</p>
</p>
</p> ]]></description>
<pubDate>Tue, 17 Apr 2012 14:49:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/41591/vane-minerals-revenue-boosted-by-mexico-improvement-update-41591.html</guid>
</item>
<item>
<title><![CDATA[News - VANE Minerals revenue boosted by Mexico improvement ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41569/vane-minerals-revenue-boosted-by-mexico-improvement-41569.html</link>
<description><![CDATA[<p> </p>
<p>Vane Minerals’ (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) revenues rose sharply in 2011 as the performance of its Mexican gold and silver operations improved “significantly”.</p>
<p>Turnover increased by 44 per cent to £3.68 million (£2.56 million), with net losses for the year reducing to £1.6 million from £2.37 million.</p>
<p>In Mexico, lower than expected production from the Diablito mine was offset by higher than expected grades and recovery rates from its Ruiz joint venture. The Diablito mine is to be closed this year.</p>
<p>Total production in Mexico was 2,706oz of gold and 73,384oz silver at a at a direct production cost of $743.45 per equivalent oz gold or $16.23 per equivalent oz of silver.</p>
<p>Vane added that in the fourth quarter, Mexico’s contribution covered the entire costs of the company. </p>
<p>The company plans to use cash generated in Mexico to fund a potentially company-changing drilling programme on its copper assets in New Mexico and Arizona.</p>
<p>The group discovered what it says is a clearly identified copper-molybdenum porphyry system ay McGhee Peak at the end of 2011 and will test that and other potential targets further in the current year.</p>
<p>VANE is also exploring for uranium in the US, where it is focused on state-owned not Federal land.</p>
<p>It said today pre-feasibility work continues at the Wate uranium project, while other lead projects going into 2012 include the Rose pipe where work will focus on establishing a NI 43-101 resource.</p>
<p>David Newton, chief executive, said: “The first drilling results from McGhee Peak were encouraging, whilst the qualities of our Mexican assets can now be demonstrated over a meaningful period. </p>
<p>VANE is in a robust position both operationally and financially, with the downside risk mitigated by the cash flow generated in Mexico and the profile of our exploration assets strengthened."</p>
<p>VANE ended the year with a cash balance of £2.3 million.</p>
<p> </p> ]]></description>
<pubDate>Tue, 17 Apr 2012 08:35:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/41569/vane-minerals-revenue-boosted-by-mexico-improvement-41569.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Final Results ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120417vml4503b/</link>
<description><![CDATA[]]></description>
<pubDate>Tue, 17 Apr 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120417vml4503b/</guid>
</item>
<item>
<title><![CDATA[News - VANE Minerals readies for follow-up drilling at McGhee Peak ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/40400/vane-minerals-readies-for-follow-up-drilling-at-mcghee-peak-40400.html</link>
<description><![CDATA[<p> </p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> (LON: VML) said a diamond drill rig will be used to follow up on the company’s initial drill programme at McGhee Peak in New Mexico.</p>
<p>The company has completed two rotary holes and partially drilled a third, which uncovered a copper-molybdenum porphyry system.</p>
<p>An attempt was made to re-drill the third hole, which was unsuccessful due to the poor ground conditions. </p>
<p>A diamond drill rig, which is more suitable for the conditions, will be used for the follow-up drilling programme, during which this third hole will also be completed. </p>
<p>Each hole will take three to four weeks to drill once the permits have been obtained. In the meantime, the rotary rig has been moved to VANE’s next target, Peg Leg, in Southern Arizona.</p>
<p>Chief executive David Newton said: "Although it is frustrating not to have completed the third hole at McGhee Peak to target depth, our analysis of the drilling to date has given us sufficient confidence to commit to diamond drilling there. </p>
<p>“The rotary drilling has already discovered two mineralised targets within a clearly identified porphyry system relatively inexpensively. </p>
<p>“This is a promising development for VANE and we will continue our exploration there. </p>
<p>“There are a number of copper exploration targets within our license areas and we intend to remain active in attempting to identify further porphyry systems."</p>
<p> </p> ]]></description>
<pubDate>Mon, 19 Mar 2012 07:24:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/40400/vane-minerals-readies-for-follow-up-drilling-at-mcghee-peak-40400.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Drilling Programme ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120319vml5475z/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 19 Mar 2012 07:00:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120319vml5475z/</guid>
</item>
<item>
<title><![CDATA[Media files - Vane Minerals CEO says he’s excited about developments for 2012 ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/stocktube/1034/vane-minerals-ceo-says-hes-excited-about-developments-for-2012-1034.html</link>
<description><![CDATA[David Newton, Vane Minerals CEO (<a href="/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>), tells <a href="http://www.proactiveinvestors.co.uk/companies/overview/8792/Proactiveinvestors" class="companyPopupTrigger" rel="8792">Proactiveinvestors</a> that he hopes to be able to deliver some good news to investors this year with the drilling programme mapped out for 2012. David also talks about the work that the company has been doing in their efforts to raise the production process at the gold and silver mining operation in Mexico. ]]></description>
<pubDate>Thu, 23 Feb 2012 11:14:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/stocktube/1034/vane-minerals-ceo-says-hes-excited-about-developments-for-2012-1034.html</guid>
</item>
<item>
<title><![CDATA[News - VANE Minerals gets lift as Mexico gold output picks up - UPDATE ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/38652/vane-minerals-gets-lift-as-mexico-gold-output-picks-up-update-38652.html</link>
<description><![CDATA[<p><strong>---Adds broker comment and share price---</strong><br /><br /><a href="http://proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) got a boost to its latest quarter as grades and recovery rates jumped at its Mexico gold and silver operations. <br /><br />Revenues jumped to US2.69 million in the three months to December as it produced 1,352 ounces of gold at a cost of US$585 per ounce compared to 628 ounces at a cost of US$628 in the preceding three months.<br /><br />VANE also produced 19,410 ounces of silver at a lower cost per ounce.<br /><br />The cash generated was enough to cover all of the company's costs (both its operational costs and its exploration costs) for the fourth quarter, VANE added.<br /><br />VANE is pushing ahead with the closure of the Diablito mine and work has started to remove 3,200 tonnes of high grade ore.<br /><br />David Newton, chief executive, said: “These results are very encouraging and underpin the company's decision to switch its focus to ore produced at the La Colorada Mine”<br /><br />“Whilst there can be no guarantee that these results will be replicated in the future, they demonstrate that if these production levels can be maintained then the company's Mexican operations will continue to make a significant cash contribution to the total running costs of the group," he added.<br /><br />VANE said 7,802 tonnes of ore was processed by SDA Mill during the three months to December (Q3: 8,022 tonnes) with average grades 8.06 g/t gold (Q3: 5.17g/t) and 127g/t silver (Q3: 105g/t).<br /><br />The average recovery rate was 78.2% for gold (Q3: 75.9%) and 70.9% for silver (Q3: 69.9%).<br /><br />Dr Ryan Long, at broker Northland, said today's statement, following on from Friday's positive announcement of the discovery of a porphyry deposit in the Southwest USA, could provide another boost for the company's shares.<br /><br />"As the Diabilto Mine reaches the end of its life, VANE's focus will switch to the La Colorada Mine, which is part of its JV with the Ruiz Brothers," he said.<br /><br />"The terms of the JV mean 80 per cent of revenues generated are attributable to VANE until 150 per cent of the capital costs are recovered after which 60 per cent will be attributable to VANE. <br /><br />"The production from La Colorada should continue to fund the company’s key projects in porphyry exploration in the Southwest USA and uranium deposits in Northern Arizonia and Utah."<br /><br />As at 2.10pm this afternoon, shares in <a href="http://proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> stood up 4.26 per cent, at 1.23 pence.</p> ]]></description>
<pubDate>Mon, 06 Feb 2012 14:11:00 +0000</pubDate>
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<title><![CDATA[News - VANE Minerals gets lift as Mexico gold output picks up ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/38632/vane-minerals-gets-lift-as-mexico-gold-output-picks-up--38632.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) got a boost to its latest quarter as grades and recovery rates jumped at its Mexico gold and silver operations. </p>
<p>Revenues jumped to US2.69 million in the three months to December as it produced 1,352 ounces of gold at a cost of US$585 per ounce compared to 628 ounces at a cost of US$628 in the preceding three months.</p>
<p>VANE also produced 19,410 ounces of silver at a lower cost per ounce.</p>
<p>The cash generated was enough to cover all of the company's costs (both its operational costs and its exploration costs) for the fourth quarter, VANE added.</p>
<p>VANE is pushing ahead with the closure of the Diablito mine and work has started to remove 3,200 tonnes of high grade ore.</p>
<p>David Newton, chief executive, said: “These results are very encouraging and underpin the company's decision to switch its focus to ore produced at the La Colorada Mine”</p>
<p>“Whilst there can be no guarantee that these results will be replicated in the future, they demonstrate that if these production levels can be maintained then the company's Mexican operations will continue to make a significant cash contribution to the total running costs of the group," he added.</p>
<p>VANE said 7,802 tonnes of ore was processed by SDA Mill during the three months to December (Q3: 8,022 tonnes) with average grades 8.06 g/t gold (Q3: 5.17g/t) and 127g/t silver (Q3: 105g/t).</p>
<p>The average recovery rate was 78.2% for gold (Q3: 75.9%) and 70.9% for silver (Q3: 69.9%).</p> ]]></description>
<pubDate>Mon, 06 Feb 2012 08:50:00 +0000</pubDate>
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<title><![CDATA[RNS press release - Mexican Gold & Silver Operations Update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120206vml8243w/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 06 Feb 2012 07:01:00 +0000</pubDate>
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<title><![CDATA[News - VANE Minerals' US copper find is a significant milestone, says broker ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/38558/vane-minerals-us-copper-find-is-a-significant-milestone-says-broker-38558.html</link>
<description><![CDATA[<p>VANE Minerals’ discovery of copper at its McGhee Peak acreage is a significant milestone but much more work needs to be done, said broker Northland.</p>]]></description>
<pubDate>Fri, 03 Feb 2012 08:38:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/38558/vane-minerals-us-copper-find-is-a-significant-milestone-says-broker-38558.html</guid>
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<title><![CDATA[News - VANE Minerals finds copper in New Mexico ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/38541/vane-minerals-finds-copper-in-new-mexico-38541.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) said today recent drilling on its McGhee Peak project in New Mexico had discovered a copper-molybdenum porphyry system.</p>
<p>The two drill holes were a mile apart and had found two targets within a clearly identified porphyry system, containing copper, molybdenum and zinc, it added.</p>
<p>The drills encountered copper values in the range of 300-600 ppm, with zinc values greater than 200 ppm.</p>
<p>One hole showing visible molybdenite is being re-drilled after caving while there will be further additional drilling to determine if economically viable higher grades are present.</p>
<p>David Newton, VANE’s chief executive, said: "These are encouraging results, showing a mineralised porphyry and confirming our geological theory that the porphyry systems that have been successfully discovered and mined at surface in this part of the US, also occur at depth.“</p>
<p>“Further drilling is required over the coming months to confirm whether this porphyry has economic potential. This successful drilling result at what is only our third project on this very favourable mineral trend gives us confidence of further exploration success in our remaining projects, " he added.</p>
<p>VANE added that the drill currently working at McGhee Peak will be moved to its next copper target once the re-drilling of hole MP-1 is completed as additional drill holes will require permitting. Permitting of the additional holes at McGhee Peak is underway.</p>
<p>VANE’s focus is the porphyry copper systems of the south-west US, and its targets on either side of the Arizona-New Mexico border. This is an area that is home to 60 per cent of all US production of the metal.</p>
<p>McGhee Peak is located on the Hillsboro-Chino-Tyrone-Bisbee porphyry mineral trend in southwest New Mexico.</p> ]]></description>
<pubDate>Fri, 03 Feb 2012 07:40:00 +0000</pubDate>
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<title><![CDATA[RNS press release - Copper exploration drilling update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120203vml7207w/</link>
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<pubDate>Fri, 03 Feb 2012 07:01:00 +0000</pubDate>
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<title><![CDATA[RNS press release - Appointment of Joint Broker ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120203vml7312w/</link>
<description><![CDATA[]]></description>
<pubDate>Fri, 03 Feb 2012 07:00:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120203vml7312w/</guid>
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"title" => "News - VANE Minerals' convertible deal impressive says broker - update",
"pubdate" => "2012-05-23 12:57:00",
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<p><strong>Adds broker comment</strong></p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) has renegotiated the terms of two outstanding convertible loan notes to limit possible dilution to other shareholders.</p>
<p>VANE will now repay a £500,000 note held by City Natural Resources High Yield Trust this month rather than September, while repayment of a £1 million note held by Geiger Counter Ltd has been extended until 2017.</p>
<p>Both City Natural Resources and Geiger Counter are funds managed by New City Investment Managers.</p>
<p>Geiger Counter’s loan note will now be convertible into 80 million ordinary at 1.25p, a 34 per cent premium to yesterday’s close. Shareholders have to approve the new loan note, which will pay interest at 8 per cent.</p>
<p>David Newton, VANE’s chief executive, said he was delighted with the new agreement.</p>
<p>“The maximum dilution to existing shareholders would equate to only 15.3% of the enlarged share capital of the Company and the agreement allows the company to continue to devote its current cash resources to the development of its highly promising copper and uranium exploration assets."</p>
<p>VANE announced last year it had found a copper-molybdenum porphyry system on its acreage in New Mexico, an area that has produced huge amounts of the metals in the past. </p>
<p>The company also has gold and silver mining operations in Mexico that are providing the cash to fund its copper exploration.</p>
<p>It had cash balances of £2.30 million at the end of December.</p>
<p>Broker Northland described the renegotiations of the convertible as impressive.</p>
<p>“The new loan note will enable the company to continue to utilise the revenue generated from its Mexican gold operations to explore its prospective copper porphyry and uranium projects in the US,” it said.</p>
<p>Shares rose 9 per cent to 1.02 pence.</p>
<div><br /></div>
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"id" => "43181",
"title" => "News - VANE Minerals tidies up convertible loan positions to limit dilution",
"pubdate" => "2012-05-23 07:36:00",
"seftitle" => "vane-minerals-tidies-up-convertible-loan-positions-to-limit-dilution-43181.html",
"description" => "<p> </p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) has renegotiated the terms of two outstanding convertible loan notes to limit possible dilution to other shareholders.</p>
<p>VANE will now repay a £500,000 note held by City Natural Resources High Yield Trust this month rather than September, while repayment of a £1 million note held by Geiger Counter Ltd has been extended until 2017.</p>
<p>Both City Natural Resources and Geiger Counter are funds managed by New City Investment Managers.</p>
<p>Geiger Counter’s loan note will now be convertible into 80 million VANE ordinary at 1.25p, a 34 per cent premium to yesterday’s close. Shareholders have to approve the new loan note, which will pay interest at 8 per cent.</p>
<p>David Newton, VANE’s chief executive, said he was delighted with the new agreement.</p>
<p>“The maximum dilution to existing shareholders would equate to only 15.3% of the enlarged share capital of the Company and the agreement allows the company to continue to devote its current cash resources to the development of its highly promising copper and uranium exploration assets."</p>
<p>VANE announced last year it had found a copper-molybdenum porphyry system on its acreage in New Mexico, an area that has produced huge amounts of the metals in the past. </p>
<p>The company also has gold and silver mining operations in Mexico that are providing the cash to fund its copper exploration.</p>
<p>VANE had cash balances of £2.30 million at the end of December.</p>
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array(
"id" => "42752",
"title" => "News - Vane Minerals says strong performance continuing in Mexico - update",
"pubdate" => "2012-05-14 11:56:00",
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<p>Vane Minerals (<a href="/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) said the increased revenue from its Mexican operations experienced in the fourth quarter 2011 has continued throughout the first quarter of 2012.</p>
<p>It generated revenue of US$2.61 million in the quarter, broadly in line with the US$2.69 million reported for the fourth quarter.</p>
<p>Chief executive David Newton said: "Q1 production continues to meet forecasts and our in-house evaluation work during the period indicates security of production moving forward.</p>
<p>“Our Mexican operations continue to fund our copper and uranium exploration programs on which we will provide updates as appropriate."</p>
<p>Vane produced 1,180 ounces of gold and 26,164oz of silver in the first quarter at a direct production cost of US$582 per gold ounce or US$10.7 per silver ounce.</p>
<p>This compares to a fourth quarter performance of 1,352oz gold and 19,410oz silver produced at US$585 per gold ounce or US$10.8 per silver ounce.</p>
<p>In addition to the normal production from the La Colorada mine, the company is processing higher grade ore that it removed from the Diablito mine ahead of its planned closure later this year.</p>
<p>The first revenue from this additional production is expected to be recognised in the second quarter of the current year.</p>
<p>Broker Northland added the additional 1.6kt of high grade ore (17.9g/t gold and 1.8g/t silver) from the Diabilto Mine will be processed at a rate of 80t per month, resulting in c.100oz gold extra per quarter.</p>
<p>At today’s gold price of about $1,580/oz, it estimates this extra production would be worth around $158,000 per quarter until September 2014 (about $1m additional revenue in total). </p>
<p>A further 1,600t of lower grade ore (2g/t gold and 200 g/t silver) from Diabilto is to be stockpiled.</p>
<p>Vane already funds all its copper porphyry and uranium exploration from the operations in Mexico and this additional cash is likely to be utilised on these exploration projects, Northland said.</p>
<div><br /></div>
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"title" => "News - Vane Minerals says strong Q4 performance continued in Q1 2012",
"pubdate" => "2012-05-14 08:04:00",
"seftitle" => "vane-minerals-says-strong-q4-performance-continued-in-q1-2012-42725.html",
"description" => "<p>Vane Minerals (<a href="/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) said the increased revenue from its Mexican operations experienced in the fourth quarter 2011 has continued throughout the first quarter of 2012. <br /><br />It generated revenue of US$2.61 million in the quarter, broadly in line with the US$2.69 million reported for the fourth quarter.<br /><br />Chief executive David Newton said: "Q1 production continues to meet forecasts and our in-house evaluation work during the period indicates security of production moving forward. <br /><br />“Our Mexican operations continue to fund our copper and uranium exploration programs on which we will provide updates as appropriate."<br /><br />Vane produced 1,180 ounces of gold and 26,164oz of silver in the first quarter at a direct production cost of US$582 per gold ounce or US$10.7 per silver ounce. <br /><br />This compares to a fourth quarter performance of 1,352oz gold and 19,410oz silver produced at US$585 per gold ounce or US$10.8 per silver ounce.<br /><br />In addition to the normal production from the La Colorada mine, the company is processing higher grade ore that it removed from the Diablito mine ahead of its planned closure later this year.<br /><br />The first revenue from this additional production is expected to be recognised in the second quarter of the current year.</p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/42725/vane-minerals-says-strong-q4-performance-continued-in-q1-2012-42725.html"
),
array(
"id" => "1205142258d",
"title" => "RNS press release - Mexican Gold & Silver Quarterly Operations Update",
"pubdate" => "2012-05-14 07:00:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/1205142258d/"
),
array(
"id" => "1137",
"title" => "Media files - Vane supports exploration in US with profits from Mexico",
"pubdate" => "2012-05-02 15:16:00",
"seftitle" => "vane-supports-exploration-in-us-with-profits-from-mexico-1137.html",
"description" => "David Newton, CEO of Vane Minerals, talks about supporting copper & uranium exploration with profits from the company’s assets, three former Freeport-McMoRan senior exploration employees, evaluating a copper molybdenum porphyry system in New Mexico, more than 110 uranium exploration targets, & more than 1.1 million lbs of U308 (April 12).",
"link" => "http://www.proactiveinvestors.co.uk/companies/stocktube/1137/vane-supports-exploration-in-us-with-profits-from-mexico-1137.html"
),
array(
"id" => "41591",
"title" => "News - VANE Minerals revenue boosted by Mexico improvement - update",
"pubdate" => "2012-04-17 14:49:00",
"seftitle" => "vane-minerals-revenue-boosted-by-mexico-improvement-update-41591.html",
"description" => "<p>
<p><strong>- adds broker comment</strong></p>
<p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a>’ (<a href="/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) revenues rose sharply in 2011 as the performance of its Mexican gold and silver operations improved “significantly”.</p>
<p>Turnover increased by 44 per cent to £3.68 million (£2.56 million), with net losses for the year reducing to £1.6 million from £2.37 million.</p>
<p>In Mexico, lower than expected production from the Diablito mine was offset by higher than expected grades and recovery rates from its Ruiz joint venture. The Diablito mine is to be closed this year.</p>
<p>Total production in Mexico was 2,706oz of gold and 73,384oz silver at a at a direct production cost of $743.45 per equivalent oz gold or $16.23 per equivalent oz of silver.</p>
<p>VANE added that in the fourth quarter, Mexico’s contribution covered the entire costs of the company. </p>
<p>The company plans to use cash generated in Mexico to fund a potentially company-changing drilling programme on its copper assets in New Mexico and Arizona.</p>
<p>The group discovered what it says is a clearly identified copper-molybdenum porphyry system ay McGhee Peak at the end of 2011 and will test that and other potential targets further in the current year.</p>
<p>VANE is also exploring for uranium in the US, where it is focused on state-owned not Federal land.</p>
<p>It said today pre-feasibility work continues at the Wate uranium project, while other lead projects going into 2012 include the Rose pipe where work will focus on establishing a NI 43-101 resource.</p>
<p>David Newton, chief executive, said: “The first drilling results from McGhee Peak were encouraging, whilst the qualities of our Mexican assets can now be demonstrated over a meaningful period. </p>
<p>VANE is in a robust position both operationally and financially, with the downside risk mitigated by the cash flow generated in Mexico and the profile of our exploration assets strengthened."</p>
<p>VANE ended the year with a cash balance of £2.3 million.</p>
<p>The porphyry mineralisation discovery at McGhee Peak capped a good year for the company according to the broker Northland.</p>
<p>The positive results from the third of twenty four defined targets was an important step that highlights VANE's success with the exploration database that contains over 100 years of exploration data. </p>
<p>VANE is now drilling at its fourth US copper target, Peg Leg.</p>
<p>Shares rose 2 per cent today to 1.02 pence.</p>
</p>
</p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/41591/vane-minerals-revenue-boosted-by-mexico-improvement-update-41591.html"
),
array(
"id" => "41569",
"title" => "News - VANE Minerals revenue boosted by Mexico improvement",
"pubdate" => "2012-04-17 08:35:00",
"seftitle" => "vane-minerals-revenue-boosted-by-mexico-improvement-41569.html",
"description" => "<p> </p>
<p>Vane Minerals’ (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) revenues rose sharply in 2011 as the performance of its Mexican gold and silver operations improved “significantly”.</p>
<p>Turnover increased by 44 per cent to £3.68 million (£2.56 million), with net losses for the year reducing to £1.6 million from £2.37 million.</p>
<p>In Mexico, lower than expected production from the Diablito mine was offset by higher than expected grades and recovery rates from its Ruiz joint venture. The Diablito mine is to be closed this year.</p>
<p>Total production in Mexico was 2,706oz of gold and 73,384oz silver at a at a direct production cost of $743.45 per equivalent oz gold or $16.23 per equivalent oz of silver.</p>
<p>Vane added that in the fourth quarter, Mexico’s contribution covered the entire costs of the company. </p>
<p>The company plans to use cash generated in Mexico to fund a potentially company-changing drilling programme on its copper assets in New Mexico and Arizona.</p>
<p>The group discovered what it says is a clearly identified copper-molybdenum porphyry system ay McGhee Peak at the end of 2011 and will test that and other potential targets further in the current year.</p>
<p>VANE is also exploring for uranium in the US, where it is focused on state-owned not Federal land.</p>
<p>It said today pre-feasibility work continues at the Wate uranium project, while other lead projects going into 2012 include the Rose pipe where work will focus on establishing a NI 43-101 resource.</p>
<p>David Newton, chief executive, said: “The first drilling results from McGhee Peak were encouraging, whilst the qualities of our Mexican assets can now be demonstrated over a meaningful period. </p>
<p>VANE is in a robust position both operationally and financially, with the downside risk mitigated by the cash flow generated in Mexico and the profile of our exploration assets strengthened."</p>
<p>VANE ended the year with a cash balance of £2.3 million.</p>
<p> </p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/41569/vane-minerals-revenue-boosted-by-mexico-improvement-41569.html"
),
array(
"id" => "120417vml4503b",
"title" => "RNS press release - Final Results",
"pubdate" => "2012-04-17 07:00:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120417vml4503b/"
),
array(
"id" => "40400",
"title" => "News - VANE Minerals readies for follow-up drilling at McGhee Peak",
"pubdate" => "2012-03-19 07:24:00",
"seftitle" => "vane-minerals-readies-for-follow-up-drilling-at-mcghee-peak-40400.html",
"description" => "<p> </p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> (LON: VML) said a diamond drill rig will be used to follow up on the company’s initial drill programme at McGhee Peak in New Mexico.</p>
<p>The company has completed two rotary holes and partially drilled a third, which uncovered a copper-molybdenum porphyry system.</p>
<p>An attempt was made to re-drill the third hole, which was unsuccessful due to the poor ground conditions. </p>
<p>A diamond drill rig, which is more suitable for the conditions, will be used for the follow-up drilling programme, during which this third hole will also be completed. </p>
<p>Each hole will take three to four weeks to drill once the permits have been obtained. In the meantime, the rotary rig has been moved to VANE’s next target, Peg Leg, in Southern Arizona.</p>
<p>Chief executive David Newton said: "Although it is frustrating not to have completed the third hole at McGhee Peak to target depth, our analysis of the drilling to date has given us sufficient confidence to commit to diamond drilling there. </p>
<p>“The rotary drilling has already discovered two mineralised targets within a clearly identified porphyry system relatively inexpensively. </p>
<p>“This is a promising development for VANE and we will continue our exploration there. </p>
<p>“There are a number of copper exploration targets within our license areas and we intend to remain active in attempting to identify further porphyry systems."</p>
<p> </p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/40400/vane-minerals-readies-for-follow-up-drilling-at-mcghee-peak-40400.html"
),
array(
"id" => "120319vml5475z",
"title" => "RNS press release - Drilling Programme",
"pubdate" => "2012-03-19 07:00:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120319vml5475z/"
),
array(
"id" => "1034",
"title" => "Media files - Vane Minerals CEO says he’s excited about developments for 2012",
"pubdate" => "2012-02-23 11:14:00",
"seftitle" => "vane-minerals-ceo-says-hes-excited-about-developments-for-2012-1034.html",
"description" => "David Newton, Vane Minerals CEO (<a href="/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>), tells <a href="http://www.proactiveinvestors.co.uk/companies/overview/8792/Proactiveinvestors" class="companyPopupTrigger" rel="8792">Proactiveinvestors</a> that he hopes to be able to deliver some good news to investors this year with the drilling programme mapped out for 2012. David also talks about the work that the company has been doing in their efforts to raise the production process at the gold and silver mining operation in Mexico. ",
"link" => "http://www.proactiveinvestors.co.uk/companies/stocktube/1034/vane-minerals-ceo-says-hes-excited-about-developments-for-2012-1034.html"
),
array(
"id" => "38652",
"title" => "News - VANE Minerals gets lift as Mexico gold output picks up - UPDATE",
"pubdate" => "2012-02-06 14:11:00",
"seftitle" => "vane-minerals-gets-lift-as-mexico-gold-output-picks-up-update-38652.html",
"description" => "<p><strong>---Adds broker comment and share price---</strong><br /><br /><a href="http://proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) got a boost to its latest quarter as grades and recovery rates jumped at its Mexico gold and silver operations. <br /><br />Revenues jumped to US2.69 million in the three months to December as it produced 1,352 ounces of gold at a cost of US$585 per ounce compared to 628 ounces at a cost of US$628 in the preceding three months.<br /><br />VANE also produced 19,410 ounces of silver at a lower cost per ounce.<br /><br />The cash generated was enough to cover all of the company's costs (both its operational costs and its exploration costs) for the fourth quarter, VANE added.<br /><br />VANE is pushing ahead with the closure of the Diablito mine and work has started to remove 3,200 tonnes of high grade ore.<br /><br />David Newton, chief executive, said: “These results are very encouraging and underpin the company's decision to switch its focus to ore produced at the La Colorada Mine”<br /><br />“Whilst there can be no guarantee that these results will be replicated in the future, they demonstrate that if these production levels can be maintained then the company's Mexican operations will continue to make a significant cash contribution to the total running costs of the group," he added.<br /><br />VANE said 7,802 tonnes of ore was processed by SDA Mill during the three months to December (Q3: 8,022 tonnes) with average grades 8.06 g/t gold (Q3: 5.17g/t) and 127g/t silver (Q3: 105g/t).<br /><br />The average recovery rate was 78.2% for gold (Q3: 75.9%) and 70.9% for silver (Q3: 69.9%).<br /><br />Dr Ryan Long, at broker Northland, said today's statement, following on from Friday's positive announcement of the discovery of a porphyry deposit in the Southwest USA, could provide another boost for the company's shares.<br /><br />"As the Diabilto Mine reaches the end of its life, VANE's focus will switch to the La Colorada Mine, which is part of its JV with the Ruiz Brothers," he said.<br /><br />"The terms of the JV mean 80 per cent of revenues generated are attributable to VANE until 150 per cent of the capital costs are recovered after which 60 per cent will be attributable to VANE. <br /><br />"The production from La Colorada should continue to fund the company’s key projects in porphyry exploration in the Southwest USA and uranium deposits in Northern Arizonia and Utah."<br /><br />As at 2.10pm this afternoon, shares in <a href="http://proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> stood up 4.26 per cent, at 1.23 pence.</p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/38652/vane-minerals-gets-lift-as-mexico-gold-output-picks-up-update-38652.html"
),
array(
"id" => "38632",
"title" => "News - VANE Minerals gets lift as Mexico gold output picks up ",
"pubdate" => "2012-02-06 08:50:00",
"seftitle" => "vane-minerals-gets-lift-as-mexico-gold-output-picks-up--38632.html",
"description" => "<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) got a boost to its latest quarter as grades and recovery rates jumped at its Mexico gold and silver operations. </p>
<p>Revenues jumped to US2.69 million in the three months to December as it produced 1,352 ounces of gold at a cost of US$585 per ounce compared to 628 ounces at a cost of US$628 in the preceding three months.</p>
<p>VANE also produced 19,410 ounces of silver at a lower cost per ounce.</p>
<p>The cash generated was enough to cover all of the company's costs (both its operational costs and its exploration costs) for the fourth quarter, VANE added.</p>
<p>VANE is pushing ahead with the closure of the Diablito mine and work has started to remove 3,200 tonnes of high grade ore.</p>
<p>David Newton, chief executive, said: “These results are very encouraging and underpin the company's decision to switch its focus to ore produced at the La Colorada Mine”</p>
<p>“Whilst there can be no guarantee that these results will be replicated in the future, they demonstrate that if these production levels can be maintained then the company's Mexican operations will continue to make a significant cash contribution to the total running costs of the group," he added.</p>
<p>VANE said 7,802 tonnes of ore was processed by SDA Mill during the three months to December (Q3: 8,022 tonnes) with average grades 8.06 g/t gold (Q3: 5.17g/t) and 127g/t silver (Q3: 105g/t).</p>
<p>The average recovery rate was 78.2% for gold (Q3: 75.9%) and 70.9% for silver (Q3: 69.9%).</p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/38632/vane-minerals-gets-lift-as-mexico-gold-output-picks-up--38632.html"
),
array(
"id" => "120206vml8243w",
"title" => "RNS press release - Mexican Gold & Silver Operations Update",
"pubdate" => "2012-02-06 07:01:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120206vml8243w/"
),
array(
"id" => "38558",
"title" => "News - VANE Minerals' US copper find is a significant milestone, says broker",
"pubdate" => "2012-02-03 08:38:00",
"seftitle" => "vane-minerals-us-copper-find-is-a-significant-milestone-says-broker-38558.html",
"description" => "<p>VANE Minerals’ discovery of copper at its McGhee Peak acreage is a significant milestone but much more work needs to be done, said broker Northland.</p>",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/38558/vane-minerals-us-copper-find-is-a-significant-milestone-says-broker-38558.html"
),
array(
"id" => "38541",
"title" => "News - VANE Minerals finds copper in New Mexico",
"pubdate" => "2012-02-03 07:40:00",
"seftitle" => "vane-minerals-finds-copper-in-new-mexico-38541.html",
"description" => "<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) said today recent drilling on its McGhee Peak project in New Mexico had discovered a copper-molybdenum porphyry system.</p>
<p>The two drill holes were a mile apart and had found two targets within a clearly identified porphyry system, containing copper, molybdenum and zinc, it added.</p>
<p>The drills encountered copper values in the range of 300-600 ppm, with zinc values greater than 200 ppm.</p>
<p>One hole showing visible molybdenite is being re-drilled after caving while there will be further additional drilling to determine if economically viable higher grades are present.</p>
<p>David Newton, VANE’s chief executive, said: "These are encouraging results, showing a mineralised porphyry and confirming our geological theory that the porphyry systems that have been successfully discovered and mined at surface in this part of the US, also occur at depth.“</p>
<p>“Further drilling is required over the coming months to confirm whether this porphyry has economic potential. This successful drilling result at what is only our third project on this very favourable mineral trend gives us confidence of further exploration success in our remaining projects, " he added.</p>
<p>VANE added that the drill currently working at McGhee Peak will be moved to its next copper target once the re-drilling of hole MP-1 is completed as additional drill holes will require permitting. Permitting of the additional holes at McGhee Peak is underway.</p>
<p>VANE’s focus is the porphyry copper systems of the south-west US, and its targets on either side of the Arizona-New Mexico border. This is an area that is home to 60 per cent of all US production of the metal.</p>
<p>McGhee Peak is located on the Hillsboro-Chino-Tyrone-Bisbee porphyry mineral trend in southwest New Mexico.</p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/38541/vane-minerals-finds-copper-in-new-mexico-38541.html"
),
array(
"id" => "120203vml7207w",
"title" => "RNS press release - Copper exploration drilling update",
"pubdate" => "2012-02-03 07:01:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120203vml7207w/"
),
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"id" => "120203vml7312w",
"title" => "RNS press release - Appointment of Joint Broker",
"pubdate" => "2012-02-03 07:00:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120203vml7312w/"
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<item>
<title><![CDATA[News - VANE Minerals' convertible deal impressive says broker - update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/43207/vane-minerals-convertible-deal-impressive-says-broker-update-43207.html</link>
<description><![CDATA[<p> </p>
<p><strong>Adds broker comment</strong></p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) has renegotiated the terms of two outstanding convertible loan notes to limit possible dilution to other shareholders.</p>
<p>VANE will now repay a £500,000 note held by City Natural Resources High Yield Trust this month rather than September, while repayment of a £1 million note held by Geiger Counter Ltd has been extended until 2017.</p>
<p>Both City Natural Resources and Geiger Counter are funds managed by New City Investment Managers.</p>
<p>Geiger Counter’s loan note will now be convertible into 80 million ordinary at 1.25p, a 34 per cent premium to yesterday’s close. Shareholders have to approve the new loan note, which will pay interest at 8 per cent.</p>
<p>David Newton, VANE’s chief executive, said he was delighted with the new agreement.</p>
<p>“The maximum dilution to existing shareholders would equate to only 15.3% of the enlarged share capital of the Company and the agreement allows the company to continue to devote its current cash resources to the development of its highly promising copper and uranium exploration assets."</p>
<p>VANE announced last year it had found a copper-molybdenum porphyry system on its acreage in New Mexico, an area that has produced huge amounts of the metals in the past. </p>
<p>The company also has gold and silver mining operations in Mexico that are providing the cash to fund its copper exploration.</p>
<p>It had cash balances of £2.30 million at the end of December.</p>
<p>Broker Northland described the renegotiations of the convertible as impressive.</p>
<p>“The new loan note will enable the company to continue to utilise the revenue generated from its Mexican gold operations to explore its prospective copper porphyry and uranium projects in the US,” it said.</p>
<p>Shares rose 9 per cent to 1.02 pence.</p>
<div><br /></div>
<p> </p> ]]></description>
<pubDate>Wed, 23 May 2012 12:57:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/43207/vane-minerals-convertible-deal-impressive-says-broker-update-43207.html</guid>
</item>
<item>
<title><![CDATA[News - VANE Minerals tidies up convertible loan positions to limit dilution ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/43181/vane-minerals-tidies-up-convertible-loan-positions-to-limit-dilution-43181.html</link>
<description><![CDATA[<p> </p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) has renegotiated the terms of two outstanding convertible loan notes to limit possible dilution to other shareholders.</p>
<p>VANE will now repay a £500,000 note held by City Natural Resources High Yield Trust this month rather than September, while repayment of a £1 million note held by Geiger Counter Ltd has been extended until 2017.</p>
<p>Both City Natural Resources and Geiger Counter are funds managed by New City Investment Managers.</p>
<p>Geiger Counter’s loan note will now be convertible into 80 million VANE ordinary at 1.25p, a 34 per cent premium to yesterday’s close. Shareholders have to approve the new loan note, which will pay interest at 8 per cent.</p>
<p>David Newton, VANE’s chief executive, said he was delighted with the new agreement.</p>
<p>“The maximum dilution to existing shareholders would equate to only 15.3% of the enlarged share capital of the Company and the agreement allows the company to continue to devote its current cash resources to the development of its highly promising copper and uranium exploration assets."</p>
<p>VANE announced last year it had found a copper-molybdenum porphyry system on its acreage in New Mexico, an area that has produced huge amounts of the metals in the past. </p>
<p>The company also has gold and silver mining operations in Mexico that are providing the cash to fund its copper exploration.</p>
<p>VANE had cash balances of £2.30 million at the end of December.</p>
<p> </p> ]]></description>
<pubDate>Wed, 23 May 2012 07:36:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/43181/vane-minerals-tidies-up-convertible-loan-positions-to-limit-dilution-43181.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Convertible Loan Notes ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120523vml8980d/</link>
<description><![CDATA[]]></description>
<pubDate>Wed, 23 May 2012 07:00:00 +0100</pubDate>
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</item>
<item>
<title><![CDATA[News - Vane Minerals says strong performance continuing in Mexico - update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42752/vane-minerals-says-strong-performance-continuing-in-mexico-update-42752.html</link>
<description><![CDATA[<p>
<p><strong>adds broker comment</strong></p>
<p> </p>
<p>Vane Minerals (<a href="/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) said the increased revenue from its Mexican operations experienced in the fourth quarter 2011 has continued throughout the first quarter of 2012.</p>
<p>It generated revenue of US$2.61 million in the quarter, broadly in line with the US$2.69 million reported for the fourth quarter.</p>
<p>Chief executive David Newton said: "Q1 production continues to meet forecasts and our in-house evaluation work during the period indicates security of production moving forward.</p>
<p>“Our Mexican operations continue to fund our copper and uranium exploration programs on which we will provide updates as appropriate."</p>
<p>Vane produced 1,180 ounces of gold and 26,164oz of silver in the first quarter at a direct production cost of US$582 per gold ounce or US$10.7 per silver ounce.</p>
<p>This compares to a fourth quarter performance of 1,352oz gold and 19,410oz silver produced at US$585 per gold ounce or US$10.8 per silver ounce.</p>
<p>In addition to the normal production from the La Colorada mine, the company is processing higher grade ore that it removed from the Diablito mine ahead of its planned closure later this year.</p>
<p>The first revenue from this additional production is expected to be recognised in the second quarter of the current year.</p>
<p>Broker Northland added the additional 1.6kt of high grade ore (17.9g/t gold and 1.8g/t silver) from the Diabilto Mine will be processed at a rate of 80t per month, resulting in c.100oz gold extra per quarter.</p>
<p>At today’s gold price of about $1,580/oz, it estimates this extra production would be worth around $158,000 per quarter until September 2014 (about $1m additional revenue in total). </p>
<p>A further 1,600t of lower grade ore (2g/t gold and 200 g/t silver) from Diabilto is to be stockpiled.</p>
<p>Vane already funds all its copper porphyry and uranium exploration from the operations in Mexico and this additional cash is likely to be utilised on these exploration projects, Northland said.</p>
<div><br /></div>
</p> ]]></description>
<pubDate>Mon, 14 May 2012 11:56:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42752/vane-minerals-says-strong-performance-continuing-in-mexico-update-42752.html</guid>
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<title><![CDATA[News - Vane Minerals says strong Q4 performance continued in Q1 2012 ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42725/vane-minerals-says-strong-q4-performance-continued-in-q1-2012-42725.html</link>
<description><![CDATA[<p>Vane Minerals (<a href="/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) said the increased revenue from its Mexican operations experienced in the fourth quarter 2011 has continued throughout the first quarter of 2012. <br /><br />It generated revenue of US$2.61 million in the quarter, broadly in line with the US$2.69 million reported for the fourth quarter.<br /><br />Chief executive David Newton said: "Q1 production continues to meet forecasts and our in-house evaluation work during the period indicates security of production moving forward. <br /><br />“Our Mexican operations continue to fund our copper and uranium exploration programs on which we will provide updates as appropriate."<br /><br />Vane produced 1,180 ounces of gold and 26,164oz of silver in the first quarter at a direct production cost of US$582 per gold ounce or US$10.7 per silver ounce. <br /><br />This compares to a fourth quarter performance of 1,352oz gold and 19,410oz silver produced at US$585 per gold ounce or US$10.8 per silver ounce.<br /><br />In addition to the normal production from the La Colorada mine, the company is processing higher grade ore that it removed from the Diablito mine ahead of its planned closure later this year.<br /><br />The first revenue from this additional production is expected to be recognised in the second quarter of the current year.</p> ]]></description>
<pubDate>Mon, 14 May 2012 08:04:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42725/vane-minerals-says-strong-q4-performance-continued-in-q1-2012-42725.html</guid>
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<title><![CDATA[RNS press release - Mexican Gold & Silver Quarterly Operations Update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/1205142258d/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 14 May 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/1205142258d/</guid>
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<title><![CDATA[Media files - Vane supports exploration in US with profits from Mexico ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/stocktube/1137/vane-supports-exploration-in-us-with-profits-from-mexico-1137.html</link>
<description><![CDATA[David Newton, CEO of Vane Minerals, talks about supporting copper & uranium exploration with profits from the company’s assets, three former Freeport-McMoRan senior exploration employees, evaluating a copper molybdenum porphyry system in New Mexico, more than 110 uranium exploration targets, & more than 1.1 million lbs of U308 (April 12).]]></description>
<pubDate>Wed, 02 May 2012 15:16:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/stocktube/1137/vane-supports-exploration-in-us-with-profits-from-mexico-1137.html</guid>
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<title><![CDATA[News - VANE Minerals revenue boosted by Mexico improvement - update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41591/vane-minerals-revenue-boosted-by-mexico-improvement-update-41591.html</link>
<description><![CDATA[<p>
<p><strong>- adds broker comment</strong></p>
<p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a>’ (<a href="/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) revenues rose sharply in 2011 as the performance of its Mexican gold and silver operations improved “significantly”.</p>
<p>Turnover increased by 44 per cent to £3.68 million (£2.56 million), with net losses for the year reducing to £1.6 million from £2.37 million.</p>
<p>In Mexico, lower than expected production from the Diablito mine was offset by higher than expected grades and recovery rates from its Ruiz joint venture. The Diablito mine is to be closed this year.</p>
<p>Total production in Mexico was 2,706oz of gold and 73,384oz silver at a at a direct production cost of $743.45 per equivalent oz gold or $16.23 per equivalent oz of silver.</p>
<p>VANE added that in the fourth quarter, Mexico’s contribution covered the entire costs of the company. </p>
<p>The company plans to use cash generated in Mexico to fund a potentially company-changing drilling programme on its copper assets in New Mexico and Arizona.</p>
<p>The group discovered what it says is a clearly identified copper-molybdenum porphyry system ay McGhee Peak at the end of 2011 and will test that and other potential targets further in the current year.</p>
<p>VANE is also exploring for uranium in the US, where it is focused on state-owned not Federal land.</p>
<p>It said today pre-feasibility work continues at the Wate uranium project, while other lead projects going into 2012 include the Rose pipe where work will focus on establishing a NI 43-101 resource.</p>
<p>David Newton, chief executive, said: “The first drilling results from McGhee Peak were encouraging, whilst the qualities of our Mexican assets can now be demonstrated over a meaningful period. </p>
<p>VANE is in a robust position both operationally and financially, with the downside risk mitigated by the cash flow generated in Mexico and the profile of our exploration assets strengthened."</p>
<p>VANE ended the year with a cash balance of £2.3 million.</p>
<p>The porphyry mineralisation discovery at McGhee Peak capped a good year for the company according to the broker Northland.</p>
<p>The positive results from the third of twenty four defined targets was an important step that highlights VANE's success with the exploration database that contains over 100 years of exploration data. </p>
<p>VANE is now drilling at its fourth US copper target, Peg Leg.</p>
<p>Shares rose 2 per cent today to 1.02 pence.</p>
</p>
</p> ]]></description>
<pubDate>Tue, 17 Apr 2012 14:49:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/41591/vane-minerals-revenue-boosted-by-mexico-improvement-update-41591.html</guid>
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<item>
<title><![CDATA[News - VANE Minerals revenue boosted by Mexico improvement ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41569/vane-minerals-revenue-boosted-by-mexico-improvement-41569.html</link>
<description><![CDATA[<p> </p>
<p>Vane Minerals’ (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) revenues rose sharply in 2011 as the performance of its Mexican gold and silver operations improved “significantly”.</p>
<p>Turnover increased by 44 per cent to £3.68 million (£2.56 million), with net losses for the year reducing to £1.6 million from £2.37 million.</p>
<p>In Mexico, lower than expected production from the Diablito mine was offset by higher than expected grades and recovery rates from its Ruiz joint venture. The Diablito mine is to be closed this year.</p>
<p>Total production in Mexico was 2,706oz of gold and 73,384oz silver at a at a direct production cost of $743.45 per equivalent oz gold or $16.23 per equivalent oz of silver.</p>
<p>Vane added that in the fourth quarter, Mexico’s contribution covered the entire costs of the company. </p>
<p>The company plans to use cash generated in Mexico to fund a potentially company-changing drilling programme on its copper assets in New Mexico and Arizona.</p>
<p>The group discovered what it says is a clearly identified copper-molybdenum porphyry system ay McGhee Peak at the end of 2011 and will test that and other potential targets further in the current year.</p>
<p>VANE is also exploring for uranium in the US, where it is focused on state-owned not Federal land.</p>
<p>It said today pre-feasibility work continues at the Wate uranium project, while other lead projects going into 2012 include the Rose pipe where work will focus on establishing a NI 43-101 resource.</p>
<p>David Newton, chief executive, said: “The first drilling results from McGhee Peak were encouraging, whilst the qualities of our Mexican assets can now be demonstrated over a meaningful period. </p>
<p>VANE is in a robust position both operationally and financially, with the downside risk mitigated by the cash flow generated in Mexico and the profile of our exploration assets strengthened."</p>
<p>VANE ended the year with a cash balance of £2.3 million.</p>
<p> </p> ]]></description>
<pubDate>Tue, 17 Apr 2012 08:35:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/41569/vane-minerals-revenue-boosted-by-mexico-improvement-41569.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Final Results ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120417vml4503b/</link>
<description><![CDATA[]]></description>
<pubDate>Tue, 17 Apr 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120417vml4503b/</guid>
</item>
<item>
<title><![CDATA[News - VANE Minerals readies for follow-up drilling at McGhee Peak ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/40400/vane-minerals-readies-for-follow-up-drilling-at-mcghee-peak-40400.html</link>
<description><![CDATA[<p> </p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> (LON: VML) said a diamond drill rig will be used to follow up on the company’s initial drill programme at McGhee Peak in New Mexico.</p>
<p>The company has completed two rotary holes and partially drilled a third, which uncovered a copper-molybdenum porphyry system.</p>
<p>An attempt was made to re-drill the third hole, which was unsuccessful due to the poor ground conditions. </p>
<p>A diamond drill rig, which is more suitable for the conditions, will be used for the follow-up drilling programme, during which this third hole will also be completed. </p>
<p>Each hole will take three to four weeks to drill once the permits have been obtained. In the meantime, the rotary rig has been moved to VANE’s next target, Peg Leg, in Southern Arizona.</p>
<p>Chief executive David Newton said: "Although it is frustrating not to have completed the third hole at McGhee Peak to target depth, our analysis of the drilling to date has given us sufficient confidence to commit to diamond drilling there. </p>
<p>“The rotary drilling has already discovered two mineralised targets within a clearly identified porphyry system relatively inexpensively. </p>
<p>“This is a promising development for VANE and we will continue our exploration there. </p>
<p>“There are a number of copper exploration targets within our license areas and we intend to remain active in attempting to identify further porphyry systems."</p>
<p> </p> ]]></description>
<pubDate>Mon, 19 Mar 2012 07:24:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/40400/vane-minerals-readies-for-follow-up-drilling-at-mcghee-peak-40400.html</guid>
</item>
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<title><![CDATA[RNS press release - Drilling Programme ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120319vml5475z/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 19 Mar 2012 07:00:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120319vml5475z/</guid>
</item>
<item>
<title><![CDATA[Media files - Vane Minerals CEO says he’s excited about developments for 2012 ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/stocktube/1034/vane-minerals-ceo-says-hes-excited-about-developments-for-2012-1034.html</link>
<description><![CDATA[David Newton, Vane Minerals CEO (<a href="/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>), tells <a href="http://www.proactiveinvestors.co.uk/companies/overview/8792/Proactiveinvestors" class="companyPopupTrigger" rel="8792">Proactiveinvestors</a> that he hopes to be able to deliver some good news to investors this year with the drilling programme mapped out for 2012. David also talks about the work that the company has been doing in their efforts to raise the production process at the gold and silver mining operation in Mexico. ]]></description>
<pubDate>Thu, 23 Feb 2012 11:14:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/stocktube/1034/vane-minerals-ceo-says-hes-excited-about-developments-for-2012-1034.html</guid>
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<item>
<title><![CDATA[News - VANE Minerals gets lift as Mexico gold output picks up - UPDATE ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/38652/vane-minerals-gets-lift-as-mexico-gold-output-picks-up-update-38652.html</link>
<description><![CDATA[<p><strong>---Adds broker comment and share price---</strong><br /><br /><a href="http://proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) got a boost to its latest quarter as grades and recovery rates jumped at its Mexico gold and silver operations. <br /><br />Revenues jumped to US2.69 million in the three months to December as it produced 1,352 ounces of gold at a cost of US$585 per ounce compared to 628 ounces at a cost of US$628 in the preceding three months.<br /><br />VANE also produced 19,410 ounces of silver at a lower cost per ounce.<br /><br />The cash generated was enough to cover all of the company's costs (both its operational costs and its exploration costs) for the fourth quarter, VANE added.<br /><br />VANE is pushing ahead with the closure of the Diablito mine and work has started to remove 3,200 tonnes of high grade ore.<br /><br />David Newton, chief executive, said: “These results are very encouraging and underpin the company's decision to switch its focus to ore produced at the La Colorada Mine”<br /><br />“Whilst there can be no guarantee that these results will be replicated in the future, they demonstrate that if these production levels can be maintained then the company's Mexican operations will continue to make a significant cash contribution to the total running costs of the group," he added.<br /><br />VANE said 7,802 tonnes of ore was processed by SDA Mill during the three months to December (Q3: 8,022 tonnes) with average grades 8.06 g/t gold (Q3: 5.17g/t) and 127g/t silver (Q3: 105g/t).<br /><br />The average recovery rate was 78.2% for gold (Q3: 75.9%) and 70.9% for silver (Q3: 69.9%).<br /><br />Dr Ryan Long, at broker Northland, said today's statement, following on from Friday's positive announcement of the discovery of a porphyry deposit in the Southwest USA, could provide another boost for the company's shares.<br /><br />"As the Diabilto Mine reaches the end of its life, VANE's focus will switch to the La Colorada Mine, which is part of its JV with the Ruiz Brothers," he said.<br /><br />"The terms of the JV mean 80 per cent of revenues generated are attributable to VANE until 150 per cent of the capital costs are recovered after which 60 per cent will be attributable to VANE. <br /><br />"The production from La Colorada should continue to fund the company’s key projects in porphyry exploration in the Southwest USA and uranium deposits in Northern Arizonia and Utah."<br /><br />As at 2.10pm this afternoon, shares in <a href="http://proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> stood up 4.26 per cent, at 1.23 pence.</p> ]]></description>
<pubDate>Mon, 06 Feb 2012 14:11:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/38652/vane-minerals-gets-lift-as-mexico-gold-output-picks-up-update-38652.html</guid>
</item>
<item>
<title><![CDATA[News - VANE Minerals gets lift as Mexico gold output picks up ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/38632/vane-minerals-gets-lift-as-mexico-gold-output-picks-up--38632.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) got a boost to its latest quarter as grades and recovery rates jumped at its Mexico gold and silver operations. </p>
<p>Revenues jumped to US2.69 million in the three months to December as it produced 1,352 ounces of gold at a cost of US$585 per ounce compared to 628 ounces at a cost of US$628 in the preceding three months.</p>
<p>VANE also produced 19,410 ounces of silver at a lower cost per ounce.</p>
<p>The cash generated was enough to cover all of the company's costs (both its operational costs and its exploration costs) for the fourth quarter, VANE added.</p>
<p>VANE is pushing ahead with the closure of the Diablito mine and work has started to remove 3,200 tonnes of high grade ore.</p>
<p>David Newton, chief executive, said: “These results are very encouraging and underpin the company's decision to switch its focus to ore produced at the La Colorada Mine”</p>
<p>“Whilst there can be no guarantee that these results will be replicated in the future, they demonstrate that if these production levels can be maintained then the company's Mexican operations will continue to make a significant cash contribution to the total running costs of the group," he added.</p>
<p>VANE said 7,802 tonnes of ore was processed by SDA Mill during the three months to December (Q3: 8,022 tonnes) with average grades 8.06 g/t gold (Q3: 5.17g/t) and 127g/t silver (Q3: 105g/t).</p>
<p>The average recovery rate was 78.2% for gold (Q3: 75.9%) and 70.9% for silver (Q3: 69.9%).</p> ]]></description>
<pubDate>Mon, 06 Feb 2012 08:50:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/38632/vane-minerals-gets-lift-as-mexico-gold-output-picks-up--38632.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Mexican Gold & Silver Operations Update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120206vml8243w/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 06 Feb 2012 07:01:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120206vml8243w/</guid>
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<title><![CDATA[News - VANE Minerals' US copper find is a significant milestone, says broker ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/38558/vane-minerals-us-copper-find-is-a-significant-milestone-says-broker-38558.html</link>
<description><![CDATA[<p>VANE Minerals’ discovery of copper at its McGhee Peak acreage is a significant milestone but much more work needs to be done, said broker Northland.</p>]]></description>
<pubDate>Fri, 03 Feb 2012 08:38:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/38558/vane-minerals-us-copper-find-is-a-significant-milestone-says-broker-38558.html</guid>
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<title><![CDATA[News - VANE Minerals finds copper in New Mexico ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/38541/vane-minerals-finds-copper-in-new-mexico-38541.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) said today recent drilling on its McGhee Peak project in New Mexico had discovered a copper-molybdenum porphyry system.</p>
<p>The two drill holes were a mile apart and had found two targets within a clearly identified porphyry system, containing copper, molybdenum and zinc, it added.</p>
<p>The drills encountered copper values in the range of 300-600 ppm, with zinc values greater than 200 ppm.</p>
<p>One hole showing visible molybdenite is being re-drilled after caving while there will be further additional drilling to determine if economically viable higher grades are present.</p>
<p>David Newton, VANE’s chief executive, said: "These are encouraging results, showing a mineralised porphyry and confirming our geological theory that the porphyry systems that have been successfully discovered and mined at surface in this part of the US, also occur at depth.“</p>
<p>“Further drilling is required over the coming months to confirm whether this porphyry has economic potential. This successful drilling result at what is only our third project on this very favourable mineral trend gives us confidence of further exploration success in our remaining projects, " he added.</p>
<p>VANE added that the drill currently working at McGhee Peak will be moved to its next copper target once the re-drilling of hole MP-1 is completed as additional drill holes will require permitting. Permitting of the additional holes at McGhee Peak is underway.</p>
<p>VANE’s focus is the porphyry copper systems of the south-west US, and its targets on either side of the Arizona-New Mexico border. This is an area that is home to 60 per cent of all US production of the metal.</p>
<p>McGhee Peak is located on the Hillsboro-Chino-Tyrone-Bisbee porphyry mineral trend in southwest New Mexico.</p> ]]></description>
<pubDate>Fri, 03 Feb 2012 07:40:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/38541/vane-minerals-finds-copper-in-new-mexico-38541.html</guid>
</item>
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<title><![CDATA[RNS press release - Copper exploration drilling update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120203vml7207w/</link>
<description><![CDATA[]]></description>
<pubDate>Fri, 03 Feb 2012 07:01:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120203vml7207w/</guid>
</item>
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<title><![CDATA[RNS press release - Appointment of Joint Broker ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120203vml7312w/</link>
<description><![CDATA[]]></description>
<pubDate>Fri, 03 Feb 2012 07:00:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120203vml7312w/</guid>
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<title>Proactiveinvestors United Kingdom VANE Minerals</title>
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<item>
<title><![CDATA[News - VANE Minerals' convertible deal impressive says broker - update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/43207/vane-minerals-convertible-deal-impressive-says-broker-update-43207.html</link>
<description><![CDATA[<p> </p>
<p><strong>Adds broker comment</strong></p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) has renegotiated the terms of two outstanding convertible loan notes to limit possible dilution to other shareholders.</p>
<p>VANE will now repay a £500,000 note held by City Natural Resources High Yield Trust this month rather than September, while repayment of a £1 million note held by Geiger Counter Ltd has been extended until 2017.</p>
<p>Both City Natural Resources and Geiger Counter are funds managed by New City Investment Managers.</p>
<p>Geiger Counter’s loan note will now be convertible into 80 million ordinary at 1.25p, a 34 per cent premium to yesterday’s close. Shareholders have to approve the new loan note, which will pay interest at 8 per cent.</p>
<p>David Newton, VANE’s chief executive, said he was delighted with the new agreement.</p>
<p>“The maximum dilution to existing shareholders would equate to only 15.3% of the enlarged share capital of the Company and the agreement allows the company to continue to devote its current cash resources to the development of its highly promising copper and uranium exploration assets."</p>
<p>VANE announced last year it had found a copper-molybdenum porphyry system on its acreage in New Mexico, an area that has produced huge amounts of the metals in the past. </p>
<p>The company also has gold and silver mining operations in Mexico that are providing the cash to fund its copper exploration.</p>
<p>It had cash balances of £2.30 million at the end of December.</p>
<p>Broker Northland described the renegotiations of the convertible as impressive.</p>
<p>“The new loan note will enable the company to continue to utilise the revenue generated from its Mexican gold operations to explore its prospective copper porphyry and uranium projects in the US,” it said.</p>
<p>Shares rose 9 per cent to 1.02 pence.</p>
<div><br /></div>
<p> </p> ]]></description>
<pubDate>Wed, 23 May 2012 12:57:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/43207/vane-minerals-convertible-deal-impressive-says-broker-update-43207.html</guid>
</item>
<item>
<title><![CDATA[News - VANE Minerals tidies up convertible loan positions to limit dilution ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/43181/vane-minerals-tidies-up-convertible-loan-positions-to-limit-dilution-43181.html</link>
<description><![CDATA[<p> </p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) has renegotiated the terms of two outstanding convertible loan notes to limit possible dilution to other shareholders.</p>
<p>VANE will now repay a £500,000 note held by City Natural Resources High Yield Trust this month rather than September, while repayment of a £1 million note held by Geiger Counter Ltd has been extended until 2017.</p>
<p>Both City Natural Resources and Geiger Counter are funds managed by New City Investment Managers.</p>
<p>Geiger Counter’s loan note will now be convertible into 80 million VANE ordinary at 1.25p, a 34 per cent premium to yesterday’s close. Shareholders have to approve the new loan note, which will pay interest at 8 per cent.</p>
<p>David Newton, VANE’s chief executive, said he was delighted with the new agreement.</p>
<p>“The maximum dilution to existing shareholders would equate to only 15.3% of the enlarged share capital of the Company and the agreement allows the company to continue to devote its current cash resources to the development of its highly promising copper and uranium exploration assets."</p>
<p>VANE announced last year it had found a copper-molybdenum porphyry system on its acreage in New Mexico, an area that has produced huge amounts of the metals in the past. </p>
<p>The company also has gold and silver mining operations in Mexico that are providing the cash to fund its copper exploration.</p>
<p>VANE had cash balances of £2.30 million at the end of December.</p>
<p> </p> ]]></description>
<pubDate>Wed, 23 May 2012 07:36:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/43181/vane-minerals-tidies-up-convertible-loan-positions-to-limit-dilution-43181.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Convertible Loan Notes ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120523vml8980d/</link>
<description><![CDATA[]]></description>
<pubDate>Wed, 23 May 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120523vml8980d/</guid>
</item>
<item>
<title><![CDATA[News - Vane Minerals says strong performance continuing in Mexico - update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42752/vane-minerals-says-strong-performance-continuing-in-mexico-update-42752.html</link>
<description><![CDATA[<p>
<p><strong>adds broker comment</strong></p>
<p> </p>
<p>Vane Minerals (<a href="/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) said the increased revenue from its Mexican operations experienced in the fourth quarter 2011 has continued throughout the first quarter of 2012.</p>
<p>It generated revenue of US$2.61 million in the quarter, broadly in line with the US$2.69 million reported for the fourth quarter.</p>
<p>Chief executive David Newton said: "Q1 production continues to meet forecasts and our in-house evaluation work during the period indicates security of production moving forward.</p>
<p>“Our Mexican operations continue to fund our copper and uranium exploration programs on which we will provide updates as appropriate."</p>
<p>Vane produced 1,180 ounces of gold and 26,164oz of silver in the first quarter at a direct production cost of US$582 per gold ounce or US$10.7 per silver ounce.</p>
<p>This compares to a fourth quarter performance of 1,352oz gold and 19,410oz silver produced at US$585 per gold ounce or US$10.8 per silver ounce.</p>
<p>In addition to the normal production from the La Colorada mine, the company is processing higher grade ore that it removed from the Diablito mine ahead of its planned closure later this year.</p>
<p>The first revenue from this additional production is expected to be recognised in the second quarter of the current year.</p>
<p>Broker Northland added the additional 1.6kt of high grade ore (17.9g/t gold and 1.8g/t silver) from the Diabilto Mine will be processed at a rate of 80t per month, resulting in c.100oz gold extra per quarter.</p>
<p>At today’s gold price of about $1,580/oz, it estimates this extra production would be worth around $158,000 per quarter until September 2014 (about $1m additional revenue in total). </p>
<p>A further 1,600t of lower grade ore (2g/t gold and 200 g/t silver) from Diabilto is to be stockpiled.</p>
<p>Vane already funds all its copper porphyry and uranium exploration from the operations in Mexico and this additional cash is likely to be utilised on these exploration projects, Northland said.</p>
<div><br /></div>
</p> ]]></description>
<pubDate>Mon, 14 May 2012 11:56:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42752/vane-minerals-says-strong-performance-continuing-in-mexico-update-42752.html</guid>
</item>
<item>
<title><![CDATA[News - Vane Minerals says strong Q4 performance continued in Q1 2012 ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42725/vane-minerals-says-strong-q4-performance-continued-in-q1-2012-42725.html</link>
<description><![CDATA[<p>Vane Minerals (<a href="/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) said the increased revenue from its Mexican operations experienced in the fourth quarter 2011 has continued throughout the first quarter of 2012. <br /><br />It generated revenue of US$2.61 million in the quarter, broadly in line with the US$2.69 million reported for the fourth quarter.<br /><br />Chief executive David Newton said: "Q1 production continues to meet forecasts and our in-house evaluation work during the period indicates security of production moving forward. <br /><br />“Our Mexican operations continue to fund our copper and uranium exploration programs on which we will provide updates as appropriate."<br /><br />Vane produced 1,180 ounces of gold and 26,164oz of silver in the first quarter at a direct production cost of US$582 per gold ounce or US$10.7 per silver ounce. <br /><br />This compares to a fourth quarter performance of 1,352oz gold and 19,410oz silver produced at US$585 per gold ounce or US$10.8 per silver ounce.<br /><br />In addition to the normal production from the La Colorada mine, the company is processing higher grade ore that it removed from the Diablito mine ahead of its planned closure later this year.<br /><br />The first revenue from this additional production is expected to be recognised in the second quarter of the current year.</p> ]]></description>
<pubDate>Mon, 14 May 2012 08:04:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42725/vane-minerals-says-strong-q4-performance-continued-in-q1-2012-42725.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Mexican Gold & Silver Quarterly Operations Update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/1205142258d/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 14 May 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/1205142258d/</guid>
</item>
<item>
<title><![CDATA[Media files - Vane supports exploration in US with profits from Mexico ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/stocktube/1137/vane-supports-exploration-in-us-with-profits-from-mexico-1137.html</link>
<description><![CDATA[David Newton, CEO of Vane Minerals, talks about supporting copper & uranium exploration with profits from the company’s assets, three former Freeport-McMoRan senior exploration employees, evaluating a copper molybdenum porphyry system in New Mexico, more than 110 uranium exploration targets, & more than 1.1 million lbs of U308 (April 12).]]></description>
<pubDate>Wed, 02 May 2012 15:16:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/stocktube/1137/vane-supports-exploration-in-us-with-profits-from-mexico-1137.html</guid>
</item>
<item>
<title><![CDATA[News - VANE Minerals revenue boosted by Mexico improvement - update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41591/vane-minerals-revenue-boosted-by-mexico-improvement-update-41591.html</link>
<description><![CDATA[<p>
<p><strong>- adds broker comment</strong></p>
<p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a>’ (<a href="/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) revenues rose sharply in 2011 as the performance of its Mexican gold and silver operations improved “significantly”.</p>
<p>Turnover increased by 44 per cent to £3.68 million (£2.56 million), with net losses for the year reducing to £1.6 million from £2.37 million.</p>
<p>In Mexico, lower than expected production from the Diablito mine was offset by higher than expected grades and recovery rates from its Ruiz joint venture. The Diablito mine is to be closed this year.</p>
<p>Total production in Mexico was 2,706oz of gold and 73,384oz silver at a at a direct production cost of $743.45 per equivalent oz gold or $16.23 per equivalent oz of silver.</p>
<p>VANE added that in the fourth quarter, Mexico’s contribution covered the entire costs of the company. </p>
<p>The company plans to use cash generated in Mexico to fund a potentially company-changing drilling programme on its copper assets in New Mexico and Arizona.</p>
<p>The group discovered what it says is a clearly identified copper-molybdenum porphyry system ay McGhee Peak at the end of 2011 and will test that and other potential targets further in the current year.</p>
<p>VANE is also exploring for uranium in the US, where it is focused on state-owned not Federal land.</p>
<p>It said today pre-feasibility work continues at the Wate uranium project, while other lead projects going into 2012 include the Rose pipe where work will focus on establishing a NI 43-101 resource.</p>
<p>David Newton, chief executive, said: “The first drilling results from McGhee Peak were encouraging, whilst the qualities of our Mexican assets can now be demonstrated over a meaningful period. </p>
<p>VANE is in a robust position both operationally and financially, with the downside risk mitigated by the cash flow generated in Mexico and the profile of our exploration assets strengthened."</p>
<p>VANE ended the year with a cash balance of £2.3 million.</p>
<p>The porphyry mineralisation discovery at McGhee Peak capped a good year for the company according to the broker Northland.</p>
<p>The positive results from the third of twenty four defined targets was an important step that highlights VANE's success with the exploration database that contains over 100 years of exploration data. </p>
<p>VANE is now drilling at its fourth US copper target, Peg Leg.</p>
<p>Shares rose 2 per cent today to 1.02 pence.</p>
</p>
</p> ]]></description>
<pubDate>Tue, 17 Apr 2012 14:49:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/41591/vane-minerals-revenue-boosted-by-mexico-improvement-update-41591.html</guid>
</item>
<item>
<title><![CDATA[News - VANE Minerals revenue boosted by Mexico improvement ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41569/vane-minerals-revenue-boosted-by-mexico-improvement-41569.html</link>
<description><![CDATA[<p> </p>
<p>Vane Minerals’ (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) revenues rose sharply in 2011 as the performance of its Mexican gold and silver operations improved “significantly”.</p>
<p>Turnover increased by 44 per cent to £3.68 million (£2.56 million), with net losses for the year reducing to £1.6 million from £2.37 million.</p>
<p>In Mexico, lower than expected production from the Diablito mine was offset by higher than expected grades and recovery rates from its Ruiz joint venture. The Diablito mine is to be closed this year.</p>
<p>Total production in Mexico was 2,706oz of gold and 73,384oz silver at a at a direct production cost of $743.45 per equivalent oz gold or $16.23 per equivalent oz of silver.</p>
<p>Vane added that in the fourth quarter, Mexico’s contribution covered the entire costs of the company. </p>
<p>The company plans to use cash generated in Mexico to fund a potentially company-changing drilling programme on its copper assets in New Mexico and Arizona.</p>
<p>The group discovered what it says is a clearly identified copper-molybdenum porphyry system ay McGhee Peak at the end of 2011 and will test that and other potential targets further in the current year.</p>
<p>VANE is also exploring for uranium in the US, where it is focused on state-owned not Federal land.</p>
<p>It said today pre-feasibility work continues at the Wate uranium project, while other lead projects going into 2012 include the Rose pipe where work will focus on establishing a NI 43-101 resource.</p>
<p>David Newton, chief executive, said: “The first drilling results from McGhee Peak were encouraging, whilst the qualities of our Mexican assets can now be demonstrated over a meaningful period. </p>
<p>VANE is in a robust position both operationally and financially, with the downside risk mitigated by the cash flow generated in Mexico and the profile of our exploration assets strengthened."</p>
<p>VANE ended the year with a cash balance of £2.3 million.</p>
<p> </p> ]]></description>
<pubDate>Tue, 17 Apr 2012 08:35:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/41569/vane-minerals-revenue-boosted-by-mexico-improvement-41569.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Final Results ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120417vml4503b/</link>
<description><![CDATA[]]></description>
<pubDate>Tue, 17 Apr 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120417vml4503b/</guid>
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<item>
<title><![CDATA[News - VANE Minerals readies for follow-up drilling at McGhee Peak ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/40400/vane-minerals-readies-for-follow-up-drilling-at-mcghee-peak-40400.html</link>
<description><![CDATA[<p> </p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> (LON: VML) said a diamond drill rig will be used to follow up on the company’s initial drill programme at McGhee Peak in New Mexico.</p>
<p>The company has completed two rotary holes and partially drilled a third, which uncovered a copper-molybdenum porphyry system.</p>
<p>An attempt was made to re-drill the third hole, which was unsuccessful due to the poor ground conditions. </p>
<p>A diamond drill rig, which is more suitable for the conditions, will be used for the follow-up drilling programme, during which this third hole will also be completed. </p>
<p>Each hole will take three to four weeks to drill once the permits have been obtained. In the meantime, the rotary rig has been moved to VANE’s next target, Peg Leg, in Southern Arizona.</p>
<p>Chief executive David Newton said: "Although it is frustrating not to have completed the third hole at McGhee Peak to target depth, our analysis of the drilling to date has given us sufficient confidence to commit to diamond drilling there. </p>
<p>“The rotary drilling has already discovered two mineralised targets within a clearly identified porphyry system relatively inexpensively. </p>
<p>“This is a promising development for VANE and we will continue our exploration there. </p>
<p>“There are a number of copper exploration targets within our license areas and we intend to remain active in attempting to identify further porphyry systems."</p>
<p> </p> ]]></description>
<pubDate>Mon, 19 Mar 2012 07:24:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/40400/vane-minerals-readies-for-follow-up-drilling-at-mcghee-peak-40400.html</guid>
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<title><![CDATA[RNS press release - Drilling Programme ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120319vml5475z/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 19 Mar 2012 07:00:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120319vml5475z/</guid>
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<title><![CDATA[Media files - Vane Minerals CEO says he’s excited about developments for 2012 ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/stocktube/1034/vane-minerals-ceo-says-hes-excited-about-developments-for-2012-1034.html</link>
<description><![CDATA[David Newton, Vane Minerals CEO (<a href="/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>), tells <a href="http://www.proactiveinvestors.co.uk/companies/overview/8792/Proactiveinvestors" class="companyPopupTrigger" rel="8792">Proactiveinvestors</a> that he hopes to be able to deliver some good news to investors this year with the drilling programme mapped out for 2012. David also talks about the work that the company has been doing in their efforts to raise the production process at the gold and silver mining operation in Mexico. ]]></description>
<pubDate>Thu, 23 Feb 2012 11:14:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/stocktube/1034/vane-minerals-ceo-says-hes-excited-about-developments-for-2012-1034.html</guid>
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<title><![CDATA[News - VANE Minerals gets lift as Mexico gold output picks up - UPDATE ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/38652/vane-minerals-gets-lift-as-mexico-gold-output-picks-up-update-38652.html</link>
<description><![CDATA[<p><strong>---Adds broker comment and share price---</strong><br /><br /><a href="http://proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) got a boost to its latest quarter as grades and recovery rates jumped at its Mexico gold and silver operations. <br /><br />Revenues jumped to US2.69 million in the three months to December as it produced 1,352 ounces of gold at a cost of US$585 per ounce compared to 628 ounces at a cost of US$628 in the preceding three months.<br /><br />VANE also produced 19,410 ounces of silver at a lower cost per ounce.<br /><br />The cash generated was enough to cover all of the company's costs (both its operational costs and its exploration costs) for the fourth quarter, VANE added.<br /><br />VANE is pushing ahead with the closure of the Diablito mine and work has started to remove 3,200 tonnes of high grade ore.<br /><br />David Newton, chief executive, said: “These results are very encouraging and underpin the company's decision to switch its focus to ore produced at the La Colorada Mine”<br /><br />“Whilst there can be no guarantee that these results will be replicated in the future, they demonstrate that if these production levels can be maintained then the company's Mexican operations will continue to make a significant cash contribution to the total running costs of the group," he added.<br /><br />VANE said 7,802 tonnes of ore was processed by SDA Mill during the three months to December (Q3: 8,022 tonnes) with average grades 8.06 g/t gold (Q3: 5.17g/t) and 127g/t silver (Q3: 105g/t).<br /><br />The average recovery rate was 78.2% for gold (Q3: 75.9%) and 70.9% for silver (Q3: 69.9%).<br /><br />Dr Ryan Long, at broker Northland, said today's statement, following on from Friday's positive announcement of the discovery of a porphyry deposit in the Southwest USA, could provide another boost for the company's shares.<br /><br />"As the Diabilto Mine reaches the end of its life, VANE's focus will switch to the La Colorada Mine, which is part of its JV with the Ruiz Brothers," he said.<br /><br />"The terms of the JV mean 80 per cent of revenues generated are attributable to VANE until 150 per cent of the capital costs are recovered after which 60 per cent will be attributable to VANE. <br /><br />"The production from La Colorada should continue to fund the company’s key projects in porphyry exploration in the Southwest USA and uranium deposits in Northern Arizonia and Utah."<br /><br />As at 2.10pm this afternoon, shares in <a href="http://proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> stood up 4.26 per cent, at 1.23 pence.</p> ]]></description>
<pubDate>Mon, 06 Feb 2012 14:11:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/38652/vane-minerals-gets-lift-as-mexico-gold-output-picks-up-update-38652.html</guid>
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<title><![CDATA[News - VANE Minerals gets lift as Mexico gold output picks up ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/38632/vane-minerals-gets-lift-as-mexico-gold-output-picks-up--38632.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) got a boost to its latest quarter as grades and recovery rates jumped at its Mexico gold and silver operations. </p>
<p>Revenues jumped to US2.69 million in the three months to December as it produced 1,352 ounces of gold at a cost of US$585 per ounce compared to 628 ounces at a cost of US$628 in the preceding three months.</p>
<p>VANE also produced 19,410 ounces of silver at a lower cost per ounce.</p>
<p>The cash generated was enough to cover all of the company's costs (both its operational costs and its exploration costs) for the fourth quarter, VANE added.</p>
<p>VANE is pushing ahead with the closure of the Diablito mine and work has started to remove 3,200 tonnes of high grade ore.</p>
<p>David Newton, chief executive, said: “These results are very encouraging and underpin the company's decision to switch its focus to ore produced at the La Colorada Mine”</p>
<p>“Whilst there can be no guarantee that these results will be replicated in the future, they demonstrate that if these production levels can be maintained then the company's Mexican operations will continue to make a significant cash contribution to the total running costs of the group," he added.</p>
<p>VANE said 7,802 tonnes of ore was processed by SDA Mill during the three months to December (Q3: 8,022 tonnes) with average grades 8.06 g/t gold (Q3: 5.17g/t) and 127g/t silver (Q3: 105g/t).</p>
<p>The average recovery rate was 78.2% for gold (Q3: 75.9%) and 70.9% for silver (Q3: 69.9%).</p> ]]></description>
<pubDate>Mon, 06 Feb 2012 08:50:00 +0000</pubDate>
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<title><![CDATA[RNS press release - Mexican Gold & Silver Operations Update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120206vml8243w/</link>
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<pubDate>Mon, 06 Feb 2012 07:01:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120206vml8243w/</guid>
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<title><![CDATA[News - VANE Minerals' US copper find is a significant milestone, says broker ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/38558/vane-minerals-us-copper-find-is-a-significant-milestone-says-broker-38558.html</link>
<description><![CDATA[<p>VANE Minerals’ discovery of copper at its McGhee Peak acreage is a significant milestone but much more work needs to be done, said broker Northland.</p>]]></description>
<pubDate>Fri, 03 Feb 2012 08:38:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/38558/vane-minerals-us-copper-find-is-a-significant-milestone-says-broker-38558.html</guid>
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<title><![CDATA[News - VANE Minerals finds copper in New Mexico ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/38541/vane-minerals-finds-copper-in-new-mexico-38541.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) said today recent drilling on its McGhee Peak project in New Mexico had discovered a copper-molybdenum porphyry system.</p>
<p>The two drill holes were a mile apart and had found two targets within a clearly identified porphyry system, containing copper, molybdenum and zinc, it added.</p>
<p>The drills encountered copper values in the range of 300-600 ppm, with zinc values greater than 200 ppm.</p>
<p>One hole showing visible molybdenite is being re-drilled after caving while there will be further additional drilling to determine if economically viable higher grades are present.</p>
<p>David Newton, VANE’s chief executive, said: "These are encouraging results, showing a mineralised porphyry and confirming our geological theory that the porphyry systems that have been successfully discovered and mined at surface in this part of the US, also occur at depth.“</p>
<p>“Further drilling is required over the coming months to confirm whether this porphyry has economic potential. This successful drilling result at what is only our third project on this very favourable mineral trend gives us confidence of further exploration success in our remaining projects, " he added.</p>
<p>VANE added that the drill currently working at McGhee Peak will be moved to its next copper target once the re-drilling of hole MP-1 is completed as additional drill holes will require permitting. Permitting of the additional holes at McGhee Peak is underway.</p>
<p>VANE’s focus is the porphyry copper systems of the south-west US, and its targets on either side of the Arizona-New Mexico border. This is an area that is home to 60 per cent of all US production of the metal.</p>
<p>McGhee Peak is located on the Hillsboro-Chino-Tyrone-Bisbee porphyry mineral trend in southwest New Mexico.</p> ]]></description>
<pubDate>Fri, 03 Feb 2012 07:40:00 +0000</pubDate>
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<title><![CDATA[RNS press release - Copper exploration drilling update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120203vml7207w/</link>
<description><![CDATA[]]></description>
<pubDate>Fri, 03 Feb 2012 07:01:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120203vml7207w/</guid>
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<title><![CDATA[RNS press release - Appointment of Joint Broker ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120203vml7312w/</link>
<description><![CDATA[]]></description>
<pubDate>Fri, 03 Feb 2012 07:00:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120203vml7312w/</guid>
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"id" => "43207",
"title" => "News - VANE Minerals' convertible deal impressive says broker - update",
"pubdate" => "2012-05-23 12:57:00",
"seftitle" => "vane-minerals-convertible-deal-impressive-says-broker-update-43207.html",
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<p><strong>Adds broker comment</strong></p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) has renegotiated the terms of two outstanding convertible loan notes to limit possible dilution to other shareholders.</p>
<p>VANE will now repay a £500,000 note held by City Natural Resources High Yield Trust this month rather than September, while repayment of a £1 million note held by Geiger Counter Ltd has been extended until 2017.</p>
<p>Both City Natural Resources and Geiger Counter are funds managed by New City Investment Managers.</p>
<p>Geiger Counter’s loan note will now be convertible into 80 million ordinary at 1.25p, a 34 per cent premium to yesterday’s close. Shareholders have to approve the new loan note, which will pay interest at 8 per cent.</p>
<p>David Newton, VANE’s chief executive, said he was delighted with the new agreement.</p>
<p>“The maximum dilution to existing shareholders would equate to only 15.3% of the enlarged share capital of the Company and the agreement allows the company to continue to devote its current cash resources to the development of its highly promising copper and uranium exploration assets."</p>
<p>VANE announced last year it had found a copper-molybdenum porphyry system on its acreage in New Mexico, an area that has produced huge amounts of the metals in the past. </p>
<p>The company also has gold and silver mining operations in Mexico that are providing the cash to fund its copper exploration.</p>
<p>It had cash balances of £2.30 million at the end of December.</p>
<p>Broker Northland described the renegotiations of the convertible as impressive.</p>
<p>“The new loan note will enable the company to continue to utilise the revenue generated from its Mexican gold operations to explore its prospective copper porphyry and uranium projects in the US,” it said.</p>
<p>Shares rose 9 per cent to 1.02 pence.</p>
<div><br /></div>
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"id" => "43181",
"title" => "News - VANE Minerals tidies up convertible loan positions to limit dilution",
"pubdate" => "2012-05-23 07:36:00",
"seftitle" => "vane-minerals-tidies-up-convertible-loan-positions-to-limit-dilution-43181.html",
"description" => "<p> </p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) has renegotiated the terms of two outstanding convertible loan notes to limit possible dilution to other shareholders.</p>
<p>VANE will now repay a £500,000 note held by City Natural Resources High Yield Trust this month rather than September, while repayment of a £1 million note held by Geiger Counter Ltd has been extended until 2017.</p>
<p>Both City Natural Resources and Geiger Counter are funds managed by New City Investment Managers.</p>
<p>Geiger Counter’s loan note will now be convertible into 80 million VANE ordinary at 1.25p, a 34 per cent premium to yesterday’s close. Shareholders have to approve the new loan note, which will pay interest at 8 per cent.</p>
<p>David Newton, VANE’s chief executive, said he was delighted with the new agreement.</p>
<p>“The maximum dilution to existing shareholders would equate to only 15.3% of the enlarged share capital of the Company and the agreement allows the company to continue to devote its current cash resources to the development of its highly promising copper and uranium exploration assets."</p>
<p>VANE announced last year it had found a copper-molybdenum porphyry system on its acreage in New Mexico, an area that has produced huge amounts of the metals in the past. </p>
<p>The company also has gold and silver mining operations in Mexico that are providing the cash to fund its copper exploration.</p>
<p>VANE had cash balances of £2.30 million at the end of December.</p>
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array(
"id" => "42752",
"title" => "News - Vane Minerals says strong performance continuing in Mexico - update",
"pubdate" => "2012-05-14 11:56:00",
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<p>Vane Minerals (<a href="/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) said the increased revenue from its Mexican operations experienced in the fourth quarter 2011 has continued throughout the first quarter of 2012.</p>
<p>It generated revenue of US$2.61 million in the quarter, broadly in line with the US$2.69 million reported for the fourth quarter.</p>
<p>Chief executive David Newton said: "Q1 production continues to meet forecasts and our in-house evaluation work during the period indicates security of production moving forward.</p>
<p>“Our Mexican operations continue to fund our copper and uranium exploration programs on which we will provide updates as appropriate."</p>
<p>Vane produced 1,180 ounces of gold and 26,164oz of silver in the first quarter at a direct production cost of US$582 per gold ounce or US$10.7 per silver ounce.</p>
<p>This compares to a fourth quarter performance of 1,352oz gold and 19,410oz silver produced at US$585 per gold ounce or US$10.8 per silver ounce.</p>
<p>In addition to the normal production from the La Colorada mine, the company is processing higher grade ore that it removed from the Diablito mine ahead of its planned closure later this year.</p>
<p>The first revenue from this additional production is expected to be recognised in the second quarter of the current year.</p>
<p>Broker Northland added the additional 1.6kt of high grade ore (17.9g/t gold and 1.8g/t silver) from the Diabilto Mine will be processed at a rate of 80t per month, resulting in c.100oz gold extra per quarter.</p>
<p>At today’s gold price of about $1,580/oz, it estimates this extra production would be worth around $158,000 per quarter until September 2014 (about $1m additional revenue in total). </p>
<p>A further 1,600t of lower grade ore (2g/t gold and 200 g/t silver) from Diabilto is to be stockpiled.</p>
<p>Vane already funds all its copper porphyry and uranium exploration from the operations in Mexico and this additional cash is likely to be utilised on these exploration projects, Northland said.</p>
<div><br /></div>
</p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/42752/vane-minerals-says-strong-performance-continuing-in-mexico-update-42752.html"
),
array(
"id" => "42725",
"title" => "News - Vane Minerals says strong Q4 performance continued in Q1 2012",
"pubdate" => "2012-05-14 08:04:00",
"seftitle" => "vane-minerals-says-strong-q4-performance-continued-in-q1-2012-42725.html",
"description" => "<p>Vane Minerals (<a href="/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) said the increased revenue from its Mexican operations experienced in the fourth quarter 2011 has continued throughout the first quarter of 2012. <br /><br />It generated revenue of US$2.61 million in the quarter, broadly in line with the US$2.69 million reported for the fourth quarter.<br /><br />Chief executive David Newton said: "Q1 production continues to meet forecasts and our in-house evaluation work during the period indicates security of production moving forward. <br /><br />“Our Mexican operations continue to fund our copper and uranium exploration programs on which we will provide updates as appropriate."<br /><br />Vane produced 1,180 ounces of gold and 26,164oz of silver in the first quarter at a direct production cost of US$582 per gold ounce or US$10.7 per silver ounce. <br /><br />This compares to a fourth quarter performance of 1,352oz gold and 19,410oz silver produced at US$585 per gold ounce or US$10.8 per silver ounce.<br /><br />In addition to the normal production from the La Colorada mine, the company is processing higher grade ore that it removed from the Diablito mine ahead of its planned closure later this year.<br /><br />The first revenue from this additional production is expected to be recognised in the second quarter of the current year.</p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/42725/vane-minerals-says-strong-q4-performance-continued-in-q1-2012-42725.html"
),
array(
"id" => "1205142258d",
"title" => "RNS press release - Mexican Gold & Silver Quarterly Operations Update",
"pubdate" => "2012-05-14 07:00:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/1205142258d/"
),
array(
"id" => "1137",
"title" => "Media files - Vane supports exploration in US with profits from Mexico",
"pubdate" => "2012-05-02 15:16:00",
"seftitle" => "vane-supports-exploration-in-us-with-profits-from-mexico-1137.html",
"description" => "David Newton, CEO of Vane Minerals, talks about supporting copper & uranium exploration with profits from the company’s assets, three former Freeport-McMoRan senior exploration employees, evaluating a copper molybdenum porphyry system in New Mexico, more than 110 uranium exploration targets, & more than 1.1 million lbs of U308 (April 12).",
"link" => "http://www.proactiveinvestors.co.uk/companies/stocktube/1137/vane-supports-exploration-in-us-with-profits-from-mexico-1137.html"
),
array(
"id" => "41591",
"title" => "News - VANE Minerals revenue boosted by Mexico improvement - update",
"pubdate" => "2012-04-17 14:49:00",
"seftitle" => "vane-minerals-revenue-boosted-by-mexico-improvement-update-41591.html",
"description" => "<p>
<p><strong>- adds broker comment</strong></p>
<p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a>’ (<a href="/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) revenues rose sharply in 2011 as the performance of its Mexican gold and silver operations improved “significantly”.</p>
<p>Turnover increased by 44 per cent to £3.68 million (£2.56 million), with net losses for the year reducing to £1.6 million from £2.37 million.</p>
<p>In Mexico, lower than expected production from the Diablito mine was offset by higher than expected grades and recovery rates from its Ruiz joint venture. The Diablito mine is to be closed this year.</p>
<p>Total production in Mexico was 2,706oz of gold and 73,384oz silver at a at a direct production cost of $743.45 per equivalent oz gold or $16.23 per equivalent oz of silver.</p>
<p>VANE added that in the fourth quarter, Mexico’s contribution covered the entire costs of the company. </p>
<p>The company plans to use cash generated in Mexico to fund a potentially company-changing drilling programme on its copper assets in New Mexico and Arizona.</p>
<p>The group discovered what it says is a clearly identified copper-molybdenum porphyry system ay McGhee Peak at the end of 2011 and will test that and other potential targets further in the current year.</p>
<p>VANE is also exploring for uranium in the US, where it is focused on state-owned not Federal land.</p>
<p>It said today pre-feasibility work continues at the Wate uranium project, while other lead projects going into 2012 include the Rose pipe where work will focus on establishing a NI 43-101 resource.</p>
<p>David Newton, chief executive, said: “The first drilling results from McGhee Peak were encouraging, whilst the qualities of our Mexican assets can now be demonstrated over a meaningful period. </p>
<p>VANE is in a robust position both operationally and financially, with the downside risk mitigated by the cash flow generated in Mexico and the profile of our exploration assets strengthened."</p>
<p>VANE ended the year with a cash balance of £2.3 million.</p>
<p>The porphyry mineralisation discovery at McGhee Peak capped a good year for the company according to the broker Northland.</p>
<p>The positive results from the third of twenty four defined targets was an important step that highlights VANE's success with the exploration database that contains over 100 years of exploration data. </p>
<p>VANE is now drilling at its fourth US copper target, Peg Leg.</p>
<p>Shares rose 2 per cent today to 1.02 pence.</p>
</p>
</p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/41591/vane-minerals-revenue-boosted-by-mexico-improvement-update-41591.html"
),
array(
"id" => "41569",
"title" => "News - VANE Minerals revenue boosted by Mexico improvement",
"pubdate" => "2012-04-17 08:35:00",
"seftitle" => "vane-minerals-revenue-boosted-by-mexico-improvement-41569.html",
"description" => "<p> </p>
<p>Vane Minerals’ (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) revenues rose sharply in 2011 as the performance of its Mexican gold and silver operations improved “significantly”.</p>
<p>Turnover increased by 44 per cent to £3.68 million (£2.56 million), with net losses for the year reducing to £1.6 million from £2.37 million.</p>
<p>In Mexico, lower than expected production from the Diablito mine was offset by higher than expected grades and recovery rates from its Ruiz joint venture. The Diablito mine is to be closed this year.</p>
<p>Total production in Mexico was 2,706oz of gold and 73,384oz silver at a at a direct production cost of $743.45 per equivalent oz gold or $16.23 per equivalent oz of silver.</p>
<p>Vane added that in the fourth quarter, Mexico’s contribution covered the entire costs of the company. </p>
<p>The company plans to use cash generated in Mexico to fund a potentially company-changing drilling programme on its copper assets in New Mexico and Arizona.</p>
<p>The group discovered what it says is a clearly identified copper-molybdenum porphyry system ay McGhee Peak at the end of 2011 and will test that and other potential targets further in the current year.</p>
<p>VANE is also exploring for uranium in the US, where it is focused on state-owned not Federal land.</p>
<p>It said today pre-feasibility work continues at the Wate uranium project, while other lead projects going into 2012 include the Rose pipe where work will focus on establishing a NI 43-101 resource.</p>
<p>David Newton, chief executive, said: “The first drilling results from McGhee Peak were encouraging, whilst the qualities of our Mexican assets can now be demonstrated over a meaningful period. </p>
<p>VANE is in a robust position both operationally and financially, with the downside risk mitigated by the cash flow generated in Mexico and the profile of our exploration assets strengthened."</p>
<p>VANE ended the year with a cash balance of £2.3 million.</p>
<p> </p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/41569/vane-minerals-revenue-boosted-by-mexico-improvement-41569.html"
),
array(
"id" => "120417vml4503b",
"title" => "RNS press release - Final Results",
"pubdate" => "2012-04-17 07:00:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120417vml4503b/"
),
array(
"id" => "40400",
"title" => "News - VANE Minerals readies for follow-up drilling at McGhee Peak",
"pubdate" => "2012-03-19 07:24:00",
"seftitle" => "vane-minerals-readies-for-follow-up-drilling-at-mcghee-peak-40400.html",
"description" => "<p> </p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> (LON: VML) said a diamond drill rig will be used to follow up on the company’s initial drill programme at McGhee Peak in New Mexico.</p>
<p>The company has completed two rotary holes and partially drilled a third, which uncovered a copper-molybdenum porphyry system.</p>
<p>An attempt was made to re-drill the third hole, which was unsuccessful due to the poor ground conditions. </p>
<p>A diamond drill rig, which is more suitable for the conditions, will be used for the follow-up drilling programme, during which this third hole will also be completed. </p>
<p>Each hole will take three to four weeks to drill once the permits have been obtained. In the meantime, the rotary rig has been moved to VANE’s next target, Peg Leg, in Southern Arizona.</p>
<p>Chief executive David Newton said: "Although it is frustrating not to have completed the third hole at McGhee Peak to target depth, our analysis of the drilling to date has given us sufficient confidence to commit to diamond drilling there. </p>
<p>“The rotary drilling has already discovered two mineralised targets within a clearly identified porphyry system relatively inexpensively. </p>
<p>“This is a promising development for VANE and we will continue our exploration there. </p>
<p>“There are a number of copper exploration targets within our license areas and we intend to remain active in attempting to identify further porphyry systems."</p>
<p> </p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/40400/vane-minerals-readies-for-follow-up-drilling-at-mcghee-peak-40400.html"
),
array(
"id" => "120319vml5475z",
"title" => "RNS press release - Drilling Programme",
"pubdate" => "2012-03-19 07:00:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120319vml5475z/"
),
array(
"id" => "1034",
"title" => "Media files - Vane Minerals CEO says he’s excited about developments for 2012",
"pubdate" => "2012-02-23 11:14:00",
"seftitle" => "vane-minerals-ceo-says-hes-excited-about-developments-for-2012-1034.html",
"description" => "David Newton, Vane Minerals CEO (<a href="/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>), tells <a href="http://www.proactiveinvestors.co.uk/companies/overview/8792/Proactiveinvestors" class="companyPopupTrigger" rel="8792">Proactiveinvestors</a> that he hopes to be able to deliver some good news to investors this year with the drilling programme mapped out for 2012. David also talks about the work that the company has been doing in their efforts to raise the production process at the gold and silver mining operation in Mexico. ",
"link" => "http://www.proactiveinvestors.co.uk/companies/stocktube/1034/vane-minerals-ceo-says-hes-excited-about-developments-for-2012-1034.html"
),
array(
"id" => "38652",
"title" => "News - VANE Minerals gets lift as Mexico gold output picks up - UPDATE",
"pubdate" => "2012-02-06 14:11:00",
"seftitle" => "vane-minerals-gets-lift-as-mexico-gold-output-picks-up-update-38652.html",
"description" => "<p><strong>---Adds broker comment and share price---</strong><br /><br /><a href="http://proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) got a boost to its latest quarter as grades and recovery rates jumped at its Mexico gold and silver operations. <br /><br />Revenues jumped to US2.69 million in the three months to December as it produced 1,352 ounces of gold at a cost of US$585 per ounce compared to 628 ounces at a cost of US$628 in the preceding three months.<br /><br />VANE also produced 19,410 ounces of silver at a lower cost per ounce.<br /><br />The cash generated was enough to cover all of the company's costs (both its operational costs and its exploration costs) for the fourth quarter, VANE added.<br /><br />VANE is pushing ahead with the closure of the Diablito mine and work has started to remove 3,200 tonnes of high grade ore.<br /><br />David Newton, chief executive, said: “These results are very encouraging and underpin the company's decision to switch its focus to ore produced at the La Colorada Mine”<br /><br />“Whilst there can be no guarantee that these results will be replicated in the future, they demonstrate that if these production levels can be maintained then the company's Mexican operations will continue to make a significant cash contribution to the total running costs of the group," he added.<br /><br />VANE said 7,802 tonnes of ore was processed by SDA Mill during the three months to December (Q3: 8,022 tonnes) with average grades 8.06 g/t gold (Q3: 5.17g/t) and 127g/t silver (Q3: 105g/t).<br /><br />The average recovery rate was 78.2% for gold (Q3: 75.9%) and 70.9% for silver (Q3: 69.9%).<br /><br />Dr Ryan Long, at broker Northland, said today's statement, following on from Friday's positive announcement of the discovery of a porphyry deposit in the Southwest USA, could provide another boost for the company's shares.<br /><br />"As the Diabilto Mine reaches the end of its life, VANE's focus will switch to the La Colorada Mine, which is part of its JV with the Ruiz Brothers," he said.<br /><br />"The terms of the JV mean 80 per cent of revenues generated are attributable to VANE until 150 per cent of the capital costs are recovered after which 60 per cent will be attributable to VANE. <br /><br />"The production from La Colorada should continue to fund the company’s key projects in porphyry exploration in the Southwest USA and uranium deposits in Northern Arizonia and Utah."<br /><br />As at 2.10pm this afternoon, shares in <a href="http://proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> stood up 4.26 per cent, at 1.23 pence.</p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/38652/vane-minerals-gets-lift-as-mexico-gold-output-picks-up-update-38652.html"
),
array(
"id" => "38632",
"title" => "News - VANE Minerals gets lift as Mexico gold output picks up ",
"pubdate" => "2012-02-06 08:50:00",
"seftitle" => "vane-minerals-gets-lift-as-mexico-gold-output-picks-up--38632.html",
"description" => "<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) got a boost to its latest quarter as grades and recovery rates jumped at its Mexico gold and silver operations. </p>
<p>Revenues jumped to US2.69 million in the three months to December as it produced 1,352 ounces of gold at a cost of US$585 per ounce compared to 628 ounces at a cost of US$628 in the preceding three months.</p>
<p>VANE also produced 19,410 ounces of silver at a lower cost per ounce.</p>
<p>The cash generated was enough to cover all of the company's costs (both its operational costs and its exploration costs) for the fourth quarter, VANE added.</p>
<p>VANE is pushing ahead with the closure of the Diablito mine and work has started to remove 3,200 tonnes of high grade ore.</p>
<p>David Newton, chief executive, said: “These results are very encouraging and underpin the company's decision to switch its focus to ore produced at the La Colorada Mine”</p>
<p>“Whilst there can be no guarantee that these results will be replicated in the future, they demonstrate that if these production levels can be maintained then the company's Mexican operations will continue to make a significant cash contribution to the total running costs of the group," he added.</p>
<p>VANE said 7,802 tonnes of ore was processed by SDA Mill during the three months to December (Q3: 8,022 tonnes) with average grades 8.06 g/t gold (Q3: 5.17g/t) and 127g/t silver (Q3: 105g/t).</p>
<p>The average recovery rate was 78.2% for gold (Q3: 75.9%) and 70.9% for silver (Q3: 69.9%).</p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/38632/vane-minerals-gets-lift-as-mexico-gold-output-picks-up--38632.html"
),
array(
"id" => "120206vml8243w",
"title" => "RNS press release - Mexican Gold & Silver Operations Update",
"pubdate" => "2012-02-06 07:01:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120206vml8243w/"
),
array(
"id" => "38558",
"title" => "News - VANE Minerals' US copper find is a significant milestone, says broker",
"pubdate" => "2012-02-03 08:38:00",
"seftitle" => "vane-minerals-us-copper-find-is-a-significant-milestone-says-broker-38558.html",
"description" => "<p>VANE Minerals’ discovery of copper at its McGhee Peak acreage is a significant milestone but much more work needs to be done, said broker Northland.</p>",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/38558/vane-minerals-us-copper-find-is-a-significant-milestone-says-broker-38558.html"
),
array(
"id" => "38541",
"title" => "News - VANE Minerals finds copper in New Mexico",
"pubdate" => "2012-02-03 07:40:00",
"seftitle" => "vane-minerals-finds-copper-in-new-mexico-38541.html",
"description" => "<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) said today recent drilling on its McGhee Peak project in New Mexico had discovered a copper-molybdenum porphyry system.</p>
<p>The two drill holes were a mile apart and had found two targets within a clearly identified porphyry system, containing copper, molybdenum and zinc, it added.</p>
<p>The drills encountered copper values in the range of 300-600 ppm, with zinc values greater than 200 ppm.</p>
<p>One hole showing visible molybdenite is being re-drilled after caving while there will be further additional drilling to determine if economically viable higher grades are present.</p>
<p>David Newton, VANE’s chief executive, said: "These are encouraging results, showing a mineralised porphyry and confirming our geological theory that the porphyry systems that have been successfully discovered and mined at surface in this part of the US, also occur at depth.“</p>
<p>“Further drilling is required over the coming months to confirm whether this porphyry has economic potential. This successful drilling result at what is only our third project on this very favourable mineral trend gives us confidence of further exploration success in our remaining projects, " he added.</p>
<p>VANE added that the drill currently working at McGhee Peak will be moved to its next copper target once the re-drilling of hole MP-1 is completed as additional drill holes will require permitting. Permitting of the additional holes at McGhee Peak is underway.</p>
<p>VANE’s focus is the porphyry copper systems of the south-west US, and its targets on either side of the Arizona-New Mexico border. This is an area that is home to 60 per cent of all US production of the metal.</p>
<p>McGhee Peak is located on the Hillsboro-Chino-Tyrone-Bisbee porphyry mineral trend in southwest New Mexico.</p> ",
"link" => "http://www.proactiveinvestors.co.uk/companies/news/38541/vane-minerals-finds-copper-in-new-mexico-38541.html"
),
array(
"id" => "120203vml7207w",
"title" => "RNS press release - Copper exploration drilling update",
"pubdate" => "2012-02-03 07:01:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120203vml7207w/"
),
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"id" => "120203vml7312w",
"title" => "RNS press release - Appointment of Joint Broker",
"pubdate" => "2012-02-03 07:00:00",
"seftitle" => "",
"description" => "",
"link" => "http://www.proactiveinvestors.co.uk/companies/rns/120203vml7312w/"
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<title><![CDATA[News - VANE Minerals' convertible deal impressive says broker - update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/43207/vane-minerals-convertible-deal-impressive-says-broker-update-43207.html</link>
<description><![CDATA[<p> </p>
<p><strong>Adds broker comment</strong></p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) has renegotiated the terms of two outstanding convertible loan notes to limit possible dilution to other shareholders.</p>
<p>VANE will now repay a £500,000 note held by City Natural Resources High Yield Trust this month rather than September, while repayment of a £1 million note held by Geiger Counter Ltd has been extended until 2017.</p>
<p>Both City Natural Resources and Geiger Counter are funds managed by New City Investment Managers.</p>
<p>Geiger Counter’s loan note will now be convertible into 80 million ordinary at 1.25p, a 34 per cent premium to yesterday’s close. Shareholders have to approve the new loan note, which will pay interest at 8 per cent.</p>
<p>David Newton, VANE’s chief executive, said he was delighted with the new agreement.</p>
<p>“The maximum dilution to existing shareholders would equate to only 15.3% of the enlarged share capital of the Company and the agreement allows the company to continue to devote its current cash resources to the development of its highly promising copper and uranium exploration assets."</p>
<p>VANE announced last year it had found a copper-molybdenum porphyry system on its acreage in New Mexico, an area that has produced huge amounts of the metals in the past. </p>
<p>The company also has gold and silver mining operations in Mexico that are providing the cash to fund its copper exploration.</p>
<p>It had cash balances of £2.30 million at the end of December.</p>
<p>Broker Northland described the renegotiations of the convertible as impressive.</p>
<p>“The new loan note will enable the company to continue to utilise the revenue generated from its Mexican gold operations to explore its prospective copper porphyry and uranium projects in the US,” it said.</p>
<p>Shares rose 9 per cent to 1.02 pence.</p>
<div><br /></div>
<p> </p> ]]></description>
<pubDate>Wed, 23 May 2012 12:57:00 +0100</pubDate>
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</item>
<item>
<title><![CDATA[News - VANE Minerals tidies up convertible loan positions to limit dilution ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/43181/vane-minerals-tidies-up-convertible-loan-positions-to-limit-dilution-43181.html</link>
<description><![CDATA[<p> </p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) has renegotiated the terms of two outstanding convertible loan notes to limit possible dilution to other shareholders.</p>
<p>VANE will now repay a £500,000 note held by City Natural Resources High Yield Trust this month rather than September, while repayment of a £1 million note held by Geiger Counter Ltd has been extended until 2017.</p>
<p>Both City Natural Resources and Geiger Counter are funds managed by New City Investment Managers.</p>
<p>Geiger Counter’s loan note will now be convertible into 80 million VANE ordinary at 1.25p, a 34 per cent premium to yesterday’s close. Shareholders have to approve the new loan note, which will pay interest at 8 per cent.</p>
<p>David Newton, VANE’s chief executive, said he was delighted with the new agreement.</p>
<p>“The maximum dilution to existing shareholders would equate to only 15.3% of the enlarged share capital of the Company and the agreement allows the company to continue to devote its current cash resources to the development of its highly promising copper and uranium exploration assets."</p>
<p>VANE announced last year it had found a copper-molybdenum porphyry system on its acreage in New Mexico, an area that has produced huge amounts of the metals in the past. </p>
<p>The company also has gold and silver mining operations in Mexico that are providing the cash to fund its copper exploration.</p>
<p>VANE had cash balances of £2.30 million at the end of December.</p>
<p> </p> ]]></description>
<pubDate>Wed, 23 May 2012 07:36:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/43181/vane-minerals-tidies-up-convertible-loan-positions-to-limit-dilution-43181.html</guid>
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<title><![CDATA[RNS press release - Convertible Loan Notes ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120523vml8980d/</link>
<description><![CDATA[]]></description>
<pubDate>Wed, 23 May 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120523vml8980d/</guid>
</item>
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<title><![CDATA[News - Vane Minerals says strong performance continuing in Mexico - update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42752/vane-minerals-says-strong-performance-continuing-in-mexico-update-42752.html</link>
<description><![CDATA[<p>
<p><strong>adds broker comment</strong></p>
<p> </p>
<p>Vane Minerals (<a href="/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) said the increased revenue from its Mexican operations experienced in the fourth quarter 2011 has continued throughout the first quarter of 2012.</p>
<p>It generated revenue of US$2.61 million in the quarter, broadly in line with the US$2.69 million reported for the fourth quarter.</p>
<p>Chief executive David Newton said: "Q1 production continues to meet forecasts and our in-house evaluation work during the period indicates security of production moving forward.</p>
<p>“Our Mexican operations continue to fund our copper and uranium exploration programs on which we will provide updates as appropriate."</p>
<p>Vane produced 1,180 ounces of gold and 26,164oz of silver in the first quarter at a direct production cost of US$582 per gold ounce or US$10.7 per silver ounce.</p>
<p>This compares to a fourth quarter performance of 1,352oz gold and 19,410oz silver produced at US$585 per gold ounce or US$10.8 per silver ounce.</p>
<p>In addition to the normal production from the La Colorada mine, the company is processing higher grade ore that it removed from the Diablito mine ahead of its planned closure later this year.</p>
<p>The first revenue from this additional production is expected to be recognised in the second quarter of the current year.</p>
<p>Broker Northland added the additional 1.6kt of high grade ore (17.9g/t gold and 1.8g/t silver) from the Diabilto Mine will be processed at a rate of 80t per month, resulting in c.100oz gold extra per quarter.</p>
<p>At today’s gold price of about $1,580/oz, it estimates this extra production would be worth around $158,000 per quarter until September 2014 (about $1m additional revenue in total). </p>
<p>A further 1,600t of lower grade ore (2g/t gold and 200 g/t silver) from Diabilto is to be stockpiled.</p>
<p>Vane already funds all its copper porphyry and uranium exploration from the operations in Mexico and this additional cash is likely to be utilised on these exploration projects, Northland said.</p>
<div><br /></div>
</p> ]]></description>
<pubDate>Mon, 14 May 2012 11:56:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42752/vane-minerals-says-strong-performance-continuing-in-mexico-update-42752.html</guid>
</item>
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<title><![CDATA[News - Vane Minerals says strong Q4 performance continued in Q1 2012 ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/42725/vane-minerals-says-strong-q4-performance-continued-in-q1-2012-42725.html</link>
<description><![CDATA[<p>Vane Minerals (<a href="/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) said the increased revenue from its Mexican operations experienced in the fourth quarter 2011 has continued throughout the first quarter of 2012. <br /><br />It generated revenue of US$2.61 million in the quarter, broadly in line with the US$2.69 million reported for the fourth quarter.<br /><br />Chief executive David Newton said: "Q1 production continues to meet forecasts and our in-house evaluation work during the period indicates security of production moving forward. <br /><br />“Our Mexican operations continue to fund our copper and uranium exploration programs on which we will provide updates as appropriate."<br /><br />Vane produced 1,180 ounces of gold and 26,164oz of silver in the first quarter at a direct production cost of US$582 per gold ounce or US$10.7 per silver ounce. <br /><br />This compares to a fourth quarter performance of 1,352oz gold and 19,410oz silver produced at US$585 per gold ounce or US$10.8 per silver ounce.<br /><br />In addition to the normal production from the La Colorada mine, the company is processing higher grade ore that it removed from the Diablito mine ahead of its planned closure later this year.<br /><br />The first revenue from this additional production is expected to be recognised in the second quarter of the current year.</p> ]]></description>
<pubDate>Mon, 14 May 2012 08:04:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/42725/vane-minerals-says-strong-q4-performance-continued-in-q1-2012-42725.html</guid>
</item>
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<title><![CDATA[RNS press release - Mexican Gold & Silver Quarterly Operations Update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/1205142258d/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 14 May 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/1205142258d/</guid>
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<title><![CDATA[Media files - Vane supports exploration in US with profits from Mexico ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/stocktube/1137/vane-supports-exploration-in-us-with-profits-from-mexico-1137.html</link>
<description><![CDATA[David Newton, CEO of Vane Minerals, talks about supporting copper & uranium exploration with profits from the company’s assets, three former Freeport-McMoRan senior exploration employees, evaluating a copper molybdenum porphyry system in New Mexico, more than 110 uranium exploration targets, & more than 1.1 million lbs of U308 (April 12).]]></description>
<pubDate>Wed, 02 May 2012 15:16:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/stocktube/1137/vane-supports-exploration-in-us-with-profits-from-mexico-1137.html</guid>
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<title><![CDATA[News - VANE Minerals revenue boosted by Mexico improvement - update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41591/vane-minerals-revenue-boosted-by-mexico-improvement-update-41591.html</link>
<description><![CDATA[<p>
<p><strong>- adds broker comment</strong></p>
<p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a>’ (<a href="/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) revenues rose sharply in 2011 as the performance of its Mexican gold and silver operations improved “significantly”.</p>
<p>Turnover increased by 44 per cent to £3.68 million (£2.56 million), with net losses for the year reducing to £1.6 million from £2.37 million.</p>
<p>In Mexico, lower than expected production from the Diablito mine was offset by higher than expected grades and recovery rates from its Ruiz joint venture. The Diablito mine is to be closed this year.</p>
<p>Total production in Mexico was 2,706oz of gold and 73,384oz silver at a at a direct production cost of $743.45 per equivalent oz gold or $16.23 per equivalent oz of silver.</p>
<p>VANE added that in the fourth quarter, Mexico’s contribution covered the entire costs of the company. </p>
<p>The company plans to use cash generated in Mexico to fund a potentially company-changing drilling programme on its copper assets in New Mexico and Arizona.</p>
<p>The group discovered what it says is a clearly identified copper-molybdenum porphyry system ay McGhee Peak at the end of 2011 and will test that and other potential targets further in the current year.</p>
<p>VANE is also exploring for uranium in the US, where it is focused on state-owned not Federal land.</p>
<p>It said today pre-feasibility work continues at the Wate uranium project, while other lead projects going into 2012 include the Rose pipe where work will focus on establishing a NI 43-101 resource.</p>
<p>David Newton, chief executive, said: “The first drilling results from McGhee Peak were encouraging, whilst the qualities of our Mexican assets can now be demonstrated over a meaningful period. </p>
<p>VANE is in a robust position both operationally and financially, with the downside risk mitigated by the cash flow generated in Mexico and the profile of our exploration assets strengthened."</p>
<p>VANE ended the year with a cash balance of £2.3 million.</p>
<p>The porphyry mineralisation discovery at McGhee Peak capped a good year for the company according to the broker Northland.</p>
<p>The positive results from the third of twenty four defined targets was an important step that highlights VANE's success with the exploration database that contains over 100 years of exploration data. </p>
<p>VANE is now drilling at its fourth US copper target, Peg Leg.</p>
<p>Shares rose 2 per cent today to 1.02 pence.</p>
</p>
</p> ]]></description>
<pubDate>Tue, 17 Apr 2012 14:49:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/41591/vane-minerals-revenue-boosted-by-mexico-improvement-update-41591.html</guid>
</item>
<item>
<title><![CDATA[News - VANE Minerals revenue boosted by Mexico improvement ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/41569/vane-minerals-revenue-boosted-by-mexico-improvement-41569.html</link>
<description><![CDATA[<p> </p>
<p>Vane Minerals’ (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) revenues rose sharply in 2011 as the performance of its Mexican gold and silver operations improved “significantly”.</p>
<p>Turnover increased by 44 per cent to £3.68 million (£2.56 million), with net losses for the year reducing to £1.6 million from £2.37 million.</p>
<p>In Mexico, lower than expected production from the Diablito mine was offset by higher than expected grades and recovery rates from its Ruiz joint venture. The Diablito mine is to be closed this year.</p>
<p>Total production in Mexico was 2,706oz of gold and 73,384oz silver at a at a direct production cost of $743.45 per equivalent oz gold or $16.23 per equivalent oz of silver.</p>
<p>Vane added that in the fourth quarter, Mexico’s contribution covered the entire costs of the company. </p>
<p>The company plans to use cash generated in Mexico to fund a potentially company-changing drilling programme on its copper assets in New Mexico and Arizona.</p>
<p>The group discovered what it says is a clearly identified copper-molybdenum porphyry system ay McGhee Peak at the end of 2011 and will test that and other potential targets further in the current year.</p>
<p>VANE is also exploring for uranium in the US, where it is focused on state-owned not Federal land.</p>
<p>It said today pre-feasibility work continues at the Wate uranium project, while other lead projects going into 2012 include the Rose pipe where work will focus on establishing a NI 43-101 resource.</p>
<p>David Newton, chief executive, said: “The first drilling results from McGhee Peak were encouraging, whilst the qualities of our Mexican assets can now be demonstrated over a meaningful period. </p>
<p>VANE is in a robust position both operationally and financially, with the downside risk mitigated by the cash flow generated in Mexico and the profile of our exploration assets strengthened."</p>
<p>VANE ended the year with a cash balance of £2.3 million.</p>
<p> </p> ]]></description>
<pubDate>Tue, 17 Apr 2012 08:35:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/41569/vane-minerals-revenue-boosted-by-mexico-improvement-41569.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Final Results ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120417vml4503b/</link>
<description><![CDATA[]]></description>
<pubDate>Tue, 17 Apr 2012 07:00:00 +0100</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120417vml4503b/</guid>
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<item>
<title><![CDATA[News - VANE Minerals readies for follow-up drilling at McGhee Peak ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/40400/vane-minerals-readies-for-follow-up-drilling-at-mcghee-peak-40400.html</link>
<description><![CDATA[<p> </p>
<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> (LON: VML) said a diamond drill rig will be used to follow up on the company’s initial drill programme at McGhee Peak in New Mexico.</p>
<p>The company has completed two rotary holes and partially drilled a third, which uncovered a copper-molybdenum porphyry system.</p>
<p>An attempt was made to re-drill the third hole, which was unsuccessful due to the poor ground conditions. </p>
<p>A diamond drill rig, which is more suitable for the conditions, will be used for the follow-up drilling programme, during which this third hole will also be completed. </p>
<p>Each hole will take three to four weeks to drill once the permits have been obtained. In the meantime, the rotary rig has been moved to VANE’s next target, Peg Leg, in Southern Arizona.</p>
<p>Chief executive David Newton said: "Although it is frustrating not to have completed the third hole at McGhee Peak to target depth, our analysis of the drilling to date has given us sufficient confidence to commit to diamond drilling there. </p>
<p>“The rotary drilling has already discovered two mineralised targets within a clearly identified porphyry system relatively inexpensively. </p>
<p>“This is a promising development for VANE and we will continue our exploration there. </p>
<p>“There are a number of copper exploration targets within our license areas and we intend to remain active in attempting to identify further porphyry systems."</p>
<p> </p> ]]></description>
<pubDate>Mon, 19 Mar 2012 07:24:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/40400/vane-minerals-readies-for-follow-up-drilling-at-mcghee-peak-40400.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Drilling Programme ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120319vml5475z/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 19 Mar 2012 07:00:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120319vml5475z/</guid>
</item>
<item>
<title><![CDATA[Media files - Vane Minerals CEO says he’s excited about developments for 2012 ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/stocktube/1034/vane-minerals-ceo-says-hes-excited-about-developments-for-2012-1034.html</link>
<description><![CDATA[David Newton, Vane Minerals CEO (<a href="/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>), tells <a href="http://www.proactiveinvestors.co.uk/companies/overview/8792/Proactiveinvestors" class="companyPopupTrigger" rel="8792">Proactiveinvestors</a> that he hopes to be able to deliver some good news to investors this year with the drilling programme mapped out for 2012. David also talks about the work that the company has been doing in their efforts to raise the production process at the gold and silver mining operation in Mexico. ]]></description>
<pubDate>Thu, 23 Feb 2012 11:14:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/stocktube/1034/vane-minerals-ceo-says-hes-excited-about-developments-for-2012-1034.html</guid>
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<item>
<title><![CDATA[News - VANE Minerals gets lift as Mexico gold output picks up - UPDATE ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/38652/vane-minerals-gets-lift-as-mexico-gold-output-picks-up-update-38652.html</link>
<description><![CDATA[<p><strong>---Adds broker comment and share price---</strong><br /><br /><a href="http://proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) got a boost to its latest quarter as grades and recovery rates jumped at its Mexico gold and silver operations. <br /><br />Revenues jumped to US2.69 million in the three months to December as it produced 1,352 ounces of gold at a cost of US$585 per ounce compared to 628 ounces at a cost of US$628 in the preceding three months.<br /><br />VANE also produced 19,410 ounces of silver at a lower cost per ounce.<br /><br />The cash generated was enough to cover all of the company's costs (both its operational costs and its exploration costs) for the fourth quarter, VANE added.<br /><br />VANE is pushing ahead with the closure of the Diablito mine and work has started to remove 3,200 tonnes of high grade ore.<br /><br />David Newton, chief executive, said: “These results are very encouraging and underpin the company's decision to switch its focus to ore produced at the La Colorada Mine”<br /><br />“Whilst there can be no guarantee that these results will be replicated in the future, they demonstrate that if these production levels can be maintained then the company's Mexican operations will continue to make a significant cash contribution to the total running costs of the group," he added.<br /><br />VANE said 7,802 tonnes of ore was processed by SDA Mill during the three months to December (Q3: 8,022 tonnes) with average grades 8.06 g/t gold (Q3: 5.17g/t) and 127g/t silver (Q3: 105g/t).<br /><br />The average recovery rate was 78.2% for gold (Q3: 75.9%) and 70.9% for silver (Q3: 69.9%).<br /><br />Dr Ryan Long, at broker Northland, said today's statement, following on from Friday's positive announcement of the discovery of a porphyry deposit in the Southwest USA, could provide another boost for the company's shares.<br /><br />"As the Diabilto Mine reaches the end of its life, VANE's focus will switch to the La Colorada Mine, which is part of its JV with the Ruiz Brothers," he said.<br /><br />"The terms of the JV mean 80 per cent of revenues generated are attributable to VANE until 150 per cent of the capital costs are recovered after which 60 per cent will be attributable to VANE. <br /><br />"The production from La Colorada should continue to fund the company’s key projects in porphyry exploration in the Southwest USA and uranium deposits in Northern Arizonia and Utah."<br /><br />As at 2.10pm this afternoon, shares in <a href="http://proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> stood up 4.26 per cent, at 1.23 pence.</p> ]]></description>
<pubDate>Mon, 06 Feb 2012 14:11:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/38652/vane-minerals-gets-lift-as-mexico-gold-output-picks-up-update-38652.html</guid>
</item>
<item>
<title><![CDATA[News - VANE Minerals gets lift as Mexico gold output picks up ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/38632/vane-minerals-gets-lift-as-mexico-gold-output-picks-up--38632.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) got a boost to its latest quarter as grades and recovery rates jumped at its Mexico gold and silver operations. </p>
<p>Revenues jumped to US2.69 million in the three months to December as it produced 1,352 ounces of gold at a cost of US$585 per ounce compared to 628 ounces at a cost of US$628 in the preceding three months.</p>
<p>VANE also produced 19,410 ounces of silver at a lower cost per ounce.</p>
<p>The cash generated was enough to cover all of the company's costs (both its operational costs and its exploration costs) for the fourth quarter, VANE added.</p>
<p>VANE is pushing ahead with the closure of the Diablito mine and work has started to remove 3,200 tonnes of high grade ore.</p>
<p>David Newton, chief executive, said: “These results are very encouraging and underpin the company's decision to switch its focus to ore produced at the La Colorada Mine”</p>
<p>“Whilst there can be no guarantee that these results will be replicated in the future, they demonstrate that if these production levels can be maintained then the company's Mexican operations will continue to make a significant cash contribution to the total running costs of the group," he added.</p>
<p>VANE said 7,802 tonnes of ore was processed by SDA Mill during the three months to December (Q3: 8,022 tonnes) with average grades 8.06 g/t gold (Q3: 5.17g/t) and 127g/t silver (Q3: 105g/t).</p>
<p>The average recovery rate was 78.2% for gold (Q3: 75.9%) and 70.9% for silver (Q3: 69.9%).</p> ]]></description>
<pubDate>Mon, 06 Feb 2012 08:50:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/38632/vane-minerals-gets-lift-as-mexico-gold-output-picks-up--38632.html</guid>
</item>
<item>
<title><![CDATA[RNS press release - Mexican Gold & Silver Operations Update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120206vml8243w/</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 06 Feb 2012 07:01:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120206vml8243w/</guid>
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<title><![CDATA[News - VANE Minerals' US copper find is a significant milestone, says broker ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/38558/vane-minerals-us-copper-find-is-a-significant-milestone-says-broker-38558.html</link>
<description><![CDATA[<p>VANE Minerals’ discovery of copper at its McGhee Peak acreage is a significant milestone but much more work needs to be done, said broker Northland.</p>]]></description>
<pubDate>Fri, 03 Feb 2012 08:38:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/38558/vane-minerals-us-copper-find-is-a-significant-milestone-says-broker-38558.html</guid>
</item>
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<title><![CDATA[News - VANE Minerals finds copper in New Mexico ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/news/38541/vane-minerals-finds-copper-in-new-mexico-38541.html</link>
<description><![CDATA[<p><a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/VANE+Minerals" class="companyPopupTrigger" rel="1667">VANE Minerals</a> (<a href="http://www.proactiveinvestors.co.uk/companies/overview/1667/vane-minerals-1667.html" class="companyPopupTrigger" rel="1667">LON:VML</a>) said today recent drilling on its McGhee Peak project in New Mexico had discovered a copper-molybdenum porphyry system.</p>
<p>The two drill holes were a mile apart and had found two targets within a clearly identified porphyry system, containing copper, molybdenum and zinc, it added.</p>
<p>The drills encountered copper values in the range of 300-600 ppm, with zinc values greater than 200 ppm.</p>
<p>One hole showing visible molybdenite is being re-drilled after caving while there will be further additional drilling to determine if economically viable higher grades are present.</p>
<p>David Newton, VANE’s chief executive, said: "These are encouraging results, showing a mineralised porphyry and confirming our geological theory that the porphyry systems that have been successfully discovered and mined at surface in this part of the US, also occur at depth.“</p>
<p>“Further drilling is required over the coming months to confirm whether this porphyry has economic potential. This successful drilling result at what is only our third project on this very favourable mineral trend gives us confidence of further exploration success in our remaining projects, " he added.</p>
<p>VANE added that the drill currently working at McGhee Peak will be moved to its next copper target once the re-drilling of hole MP-1 is completed as additional drill holes will require permitting. Permitting of the additional holes at McGhee Peak is underway.</p>
<p>VANE’s focus is the porphyry copper systems of the south-west US, and its targets on either side of the Arizona-New Mexico border. This is an area that is home to 60 per cent of all US production of the metal.</p>
<p>McGhee Peak is located on the Hillsboro-Chino-Tyrone-Bisbee porphyry mineral trend in southwest New Mexico.</p> ]]></description>
<pubDate>Fri, 03 Feb 2012 07:40:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/news/38541/vane-minerals-finds-copper-in-new-mexico-38541.html</guid>
</item>
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<title><![CDATA[RNS press release - Copper exploration drilling update ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120203vml7207w/</link>
<description><![CDATA[]]></description>
<pubDate>Fri, 03 Feb 2012 07:01:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120203vml7207w/</guid>
</item>
<item>
<title><![CDATA[RNS press release - Appointment of Joint Broker ]]></title>
<link>http://www.proactiveinvestors.co.uk/companies/rns/120203vml7312w/</link>
<description><![CDATA[]]></description>
<pubDate>Fri, 03 Feb 2012 07:00:00 +0000</pubDate>
<guid>http://www.proactiveinvestors.co.uk/companies/rns/120203vml7312w/</guid>
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Adds broker comment
VANE Minerals (LON:VML) has renegotiated the terms of two outstanding convertible loan notes to limit possible dilution to other shareholders.
VANE will now repay a £500,000 note held by City Natural Resources High Yield Trust this month rather than September, while repayment of a £1 million note held by Geiger Counter Ltd has been extended until 2017.
Both City Natural Resources and Geiger Counter are funds managed by New City Investment Managers.
Geiger Counter’s loan note will now be convertible into 80 million ordinary at 1.25p, a 34 per cent premium to yesterday’s close. Shareholders have to approve the new loan note, which will pay interest at 8 per cent.
David Newton, VANE’s chief executive, said he was delighted with the new agreement.
“The maximum dilution to existing shareholders would equate to only 15.3% of the enlarged share capital of the Company and the agreement allows the company to continue to devote its current cash resources to the development of its highly promising copper and uranium exploration assets."
VANE announced last year it had found a copper-molybdenum porphyry system on its acreage in New Mexico, an area that has produced huge amounts of the metals in the past.
The company also has gold and silver mining operations in Mexico that are providing the cash to fund its copper exploration.
It had cash balances of £2.30 million at the end of December.
Broker Northland described the renegotiations of the convertible as impressive.
“The new loan note will enable the company to continue to utilise the revenue generated from its Mexican gold operations to explore its prospective copper porphyry and uranium projects in the US,” it said.
Shares rose 9 per cent to 1.02 pence.
]]>
VANE Minerals (LON:VML) has renegotiated the terms of two outstanding convertible loan notes to limit possible dilution to other shareholders.
VANE will now repay a £500,000 note held by City Natural Resources High Yield Trust this month rather than September, while repayment of a £1 million note held by Geiger Counter Ltd has been extended until 2017.
Both City Natural Resources and Geiger Counter are funds managed by New City Investment Managers.
Geiger Counter’s loan note will now be convertible into 80 million VANE ordinary at 1.25p, a 34 per cent premium to yesterday’s close. Shareholders have to approve the new loan note, which will pay interest at 8 per cent.
David Newton, VANE’s chief executive, said he was delighted with the new agreement.
“The maximum dilution to existing shareholders would equate to only 15.3% of the enlarged share capital of the Company and the agreement allows the company to continue to devote its current cash resources to the development of its highly promising copper and uranium exploration assets."
VANE announced last year it had found a copper-molybdenum porphyry system on its acreage in New Mexico, an area that has produced huge amounts of the metals in the past.
The company also has gold and silver mining operations in Mexico that are providing the cash to fund its copper exploration.
VANE had cash balances of £2.30 million at the end of December.
]]>
adds broker comment
Vane Minerals (LON:VML) said the increased revenue from its Mexican operations experienced in the fourth quarter 2011 has continued throughout the first quarter of 2012.
It generated revenue of US$2.61 million in the quarter, broadly in line with the US$2.69 million reported for the fourth quarter.
Chief executive David Newton said: "Q1 production continues to meet forecasts and our in-house evaluation work during the period indicates security of production moving forward.
“Our Mexican operations continue to fund our copper and uranium exploration programs on which we will provide updates as appropriate."
Vane produced 1,180 ounces of gold and 26,164oz of silver in the first quarter at a direct production cost of US$582 per gold ounce or US$10.7 per silver ounce.
This compares to a fourth quarter performance of 1,352oz gold and 19,410oz silver produced at US$585 per gold ounce or US$10.8 per silver ounce.
In addition to the normal production from the La Colorada mine, the company is processing higher grade ore that it removed from the Diablito mine ahead of its planned closure later this year.
The first revenue from this additional production is expected to be recognised in the second quarter of the current year.
Broker Northland added the additional 1.6kt of high grade ore (17.9g/t gold and 1.8g/t silver) from the Diabilto Mine will be processed at a rate of 80t per month, resulting in c.100oz gold extra per quarter.
At today’s gold price of about $1,580/oz, it estimates this extra production would be worth around $158,000 per quarter until September 2014 (about $1m additional revenue in total).
A further 1,600t of lower grade ore (2g/t gold and 200 g/t silver) from Diabilto is to be stockpiled.
Vane already funds all its copper porphyry and uranium exploration from the operations in Mexico and this additional cash is likely to be utilised on these exploration projects, Northland said.
- adds broker comment
VANE Minerals’ (LON:VML) revenues rose sharply in 2011 as the performance of its Mexican gold and silver operations improved “significantly”.
Turnover increased by 44 per cent to £3.68 million (£2.56 million), with net losses for the year reducing to £1.6 million from £2.37 million.
In Mexico, lower than expected production from the Diablito mine was offset by higher than expected grades and recovery rates from its Ruiz joint venture. The Diablito mine is to be closed this year.
Total production in Mexico was 2,706oz of gold and 73,384oz silver at a at a direct production cost of $743.45 per equivalent oz gold or $16.23 per equivalent oz of silver.
VANE added that in the fourth quarter, Mexico’s contribution covered the entire costs of the company.
The company plans to use cash generated in Mexico to fund a potentially company-changing drilling programme on its copper assets in New Mexico and Arizona.
The group discovered what it says is a clearly identified copper-molybdenum porphyry system ay McGhee Peak at the end of 2011 and will test that and other potential targets further in the current year.
VANE is also exploring for uranium in the US, where it is focused on state-owned not Federal land.
It said today pre-feasibility work continues at the Wate uranium project, while other lead projects going into 2012 include the Rose pipe where work will focus on establishing a NI 43-101 resource.
David Newton, chief executive, said: “The first drilling results from McGhee Peak were encouraging, whilst the qualities of our Mexican assets can now be demonstrated over a meaningful period.
VANE is in a robust position both operationally and financially, with the downside risk mitigated by the cash flow generated in Mexico and the profile of our exploration assets strengthened."
VANE ended the year with a cash balance of £2.3 million.
The porphyry mineralisation discovery at McGhee Peak capped a good year for the company according to the broker Northland.
The positive results from the third of twenty four defined targets was an important step that highlights VANE's success with the exploration database that contains over 100 years of exploration data.
VANE is now drilling at its fourth US copper target, Peg Leg.
Shares rose 2 per cent today to 1.02 pence.
]]>Vane Minerals’ (LON:VML) revenues rose sharply in 2011 as the performance of its Mexican gold and silver operations improved “significantly”.
Turnover increased by 44 per cent to £3.68 million (£2.56 million), with net losses for the year reducing to £1.6 million from £2.37 million.
In Mexico, lower than expected production from the Diablito mine was offset by higher than expected grades and recovery rates from its Ruiz joint venture. The Diablito mine is to be closed this year.
Total production in Mexico was 2,706oz of gold and 73,384oz silver at a at a direct production cost of $743.45 per equivalent oz gold or $16.23 per equivalent oz of silver.
Vane added that in the fourth quarter, Mexico’s contribution covered the entire costs of the company.
The company plans to use cash generated in Mexico to fund a potentially company-changing drilling programme on its copper assets in New Mexico and Arizona.
The group discovered what it says is a clearly identified copper-molybdenum porphyry system ay McGhee Peak at the end of 2011 and will test that and other potential targets further in the current year.
VANE is also exploring for uranium in the US, where it is focused on state-owned not Federal land.
It said today pre-feasibility work continues at the Wate uranium project, while other lead projects going into 2012 include the Rose pipe where work will focus on establishing a NI 43-101 resource.
David Newton, chief executive, said: “The first drilling results from McGhee Peak were encouraging, whilst the qualities of our Mexican assets can now be demonstrated over a meaningful period.
VANE is in a robust position both operationally and financially, with the downside risk mitigated by the cash flow generated in Mexico and the profile of our exploration assets strengthened."
VANE ended the year with a cash balance of £2.3 million.
]]>
VANE Minerals (LON: VML) said a diamond drill rig will be used to follow up on the company’s initial drill programme at McGhee Peak in New Mexico.
The company has completed two rotary holes and partially drilled a third, which uncovered a copper-molybdenum porphyry system.
An attempt was made to re-drill the third hole, which was unsuccessful due to the poor ground conditions.
A diamond drill rig, which is more suitable for the conditions, will be used for the follow-up drilling programme, during which this third hole will also be completed.
Each hole will take three to four weeks to drill once the permits have been obtained. In the meantime, the rotary rig has been moved to VANE’s next target, Peg Leg, in Southern Arizona.
Chief executive David Newton said: "Although it is frustrating not to have completed the third hole at McGhee Peak to target depth, our analysis of the drilling to date has given us sufficient confidence to commit to diamond drilling there.
“The rotary drilling has already discovered two mineralised targets within a clearly identified porphyry system relatively inexpensively.
“This is a promising development for VANE and we will continue our exploration there.
“There are a number of copper exploration targets within our license areas and we intend to remain active in attempting to identify further porphyry systems."
]]>
Revenues jumped to US2.69 million in the three months to December as it produced 1,352 ounces of gold at a cost of US$585 per ounce compared to 628 ounces at a cost of US$628 in the preceding three months.
VANE also produced 19,410 ounces of silver at a lower cost per ounce.
The cash generated was enough to cover all of the company's costs (both its operational costs and its exploration costs) for the fourth quarter, VANE added.
VANE is pushing ahead with the closure of the Diablito mine and work has started to remove 3,200 tonnes of high grade ore.
David Newton, chief executive, said: “These results are very encouraging and underpin the company's decision to switch its focus to ore produced at the La Colorada Mine”
“Whilst there can be no guarantee that these results will be replicated in the future, they demonstrate that if these production levels can be maintained then the company's Mexican operations will continue to make a significant cash contribution to the total running costs of the group," he added.
VANE said 7,802 tonnes of ore was processed by SDA Mill during the three months to December (Q3: 8,022 tonnes) with average grades 8.06 g/t gold (Q3: 5.17g/t) and 127g/t silver (Q3: 105g/t).
The average recovery rate was 78.2% for gold (Q3: 75.9%) and 70.9% for silver (Q3: 69.9%).
]]>The two drill holes were a mile apart and had found two targets within a clearly identified porphyry system, containing copper, molybdenum and zinc, it added.
The drills encountered copper values in the range of 300-600 ppm, with zinc values greater than 200 ppm.
One hole showing visible molybdenite is being re-drilled after caving while there will be further additional drilling to determine if economically viable higher grades are present.
David Newton, VANE’s chief executive, said: "These are encouraging results, showing a mineralised porphyry and confirming our geological theory that the porphyry systems that have been successfully discovered and mined at surface in this part of the US, also occur at depth.“
“Further drilling is required over the coming months to confirm whether this porphyry has economic potential. This successful drilling result at what is only our third project on this very favourable mineral trend gives us confidence of further exploration success in our remaining projects, " he added.
VANE added that the drill currently working at McGhee Peak will be moved to its next copper target once the re-drilling of hole MP-1 is completed as additional drill holes will require permitting. Permitting of the additional holes at McGhee Peak is underway.
VANE’s focus is the porphyry copper systems of the south-west US, and its targets on either side of the Arizona-New Mexico border. This is an area that is home to 60 per cent of all US production of the metal.
McGhee Peak is located on the Hillsboro-Chino-Tyrone-Bisbee porphyry mineral trend in southwest New Mexico.
]]>