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Coeur Mining solidifies Palmajero future with Paramount Gold and Silver acquisition

By: Henry Lazenby The US’s largest primary silver producer Coeur Mining on Wednesday announced that it had agreed to buy Paramount Gold and Silver for $146-million in scrip, giving Coeur control over Paramount’s San Miguel project that covers about 121 000 ha surrounding Coeur’s Palmarejo mine, in Chihuahua,... 

Osisko Gold Royalties agrees to provide C$10m loan to Highland Copper

By: Henry Lazenby Gold-focused royalty and stream company Osisko Gold Royalties on Tuesday said it had agreed to give Canadian explorer Highland Copper Company a C$10-million secured loan in exchange for, among other things, a 3% sliding-scale net smelter return (NSR) royalty on all metals produced from the White... 

Gold miners report new discoveries

By: Henry Lazenby Gold producers Aurico Gold and Yamana Gold on Monday reported that 2014 exploration programmes had resulted in new discoveries at Aurico’s Kemess East project, in north-central British Columbia, and Yamana’s El Penon gold/silver mine, in Chile, and Chapada, in Brazil. TSX- and NYSE-listed Aurico... 

Samco Gold to acquire Peruvian base metals project

By: Henry Lazenby Argentina-focused Samco Gold on Friday announced that it had signed an agreement to buy two Peruvian subsidiaries of Mantaro Resources for about $3.4-million in cash and scrip, which would give it control over exploration and mining concessions over the Dino polymetallic property. Samco would... 

Hochschild downgrades chairperson’s role, announces board pay cuts

By: Henry Lazenby Latin America-focused precious metals producer Hochschild Mining has downgraded the role of its chairperson and also announced cuts to its board’s pay packages. Hochschild on Wednesday announced the changes as part of its ongoing review of the board structure and its cost-cutting programme. 

Allied Nevada stock falters on lowered guidance, worsening financial condition

By: Henry Lazenby The TSX-listed stock of Reno, Nevada-based gold miner Allied Nevada Gold on Friday fell by as much as 34% after the company announced that it would this year not produce as much precious metals as previously expected. The dual-listed miner reported that it expected full-year metal sales to be... 

Mineworker numbers set to fall 8% a year – Teba

By: Martin Creamer The number of mineworkers employed in gold mining and platinum mining in South Africa is expected to decline by about 8% a year in the next two years, says Teba Limited CEO Graham Herbert. Herbert, who spoke to Mining Weekly Online in the attached video interview, says his company – which is... 

Mineworker numbers set to fall 8% a year – Teba
Photo by Duane Daws
Graham Herbert (right) and Martin Creamer

Coeur Mining in talks to acquire Paramount Gold – sources

By: Reuters Coeur Mining, the biggest US producer of silver, is in advanced negotiations to acquire Paramount Gold and Silver Corp, according to people familiar with the matter, as it seeks to expand its mining footprint in Mexico. The talks are the latest sign of low metal prices driving mining companies... 

Coeur Mining in talks to acquire Paramount Gold – sources

Excellon moves to buy ‘undervalued’ common shares

By: Natalie Greve The TSX has approved Toronto-listed Excellon Resources’ notice of its intention to make a normal course issuer bid (NCIB), the silver miner said on Friday. Mexico's highest-grade silver producer filed the NCIB programme to allow for the market purchases of its common shares and, pursuant to the... 

Lower capex outlay to shrink Hochschild’s FY2015 output

By: Natalie Greve As part of its ongoing cash flow optimisation programme, Hochschild Mining has targeted further cost efficiencies to reduce operating expenditure and ensure that the company’s mines can deliver profitable ounces in 2015. The group outlined on Friday that it had “optimised” the mine plans of the... 

Lower capex outlay to shrink Hochschild’s FY2015 output

Rambler Metals’ Q1 output in line with guidance

By: Mariaan Webb Dual-listed Rambler Metals and Mining said on Thursday that its first-quarter production results were in line with its guidance for the 2015 financial year, despite a weaker quarter-on-quarter production performance. During the three-month period to the end of October, the TSX-V- and Aim-listed... 

Namib DFS shows low risk and robust economics

By: Leandi Kolver The definitive feasibility study (DFS) for Aim-listed North River Resources’ Namib lead/zinc/silver mine, in Namibia, has confirmed that the project is technically low risk and economically robust, the company said on Wednesday. It added that a strong after-tax internal rate of return of more... 

Golden Queen says California precious metals project on schedule

By: Creamer Media Reporter The Soledad Mountain gold and silver project near Mojave, in California, is proceeding on schedule, with processing facilities set to be commissioned in late 2015, TSX-listed Golden Queen Mining reported on Tuesday. The Vancouver-based company said its 50%-owned subsidiary, Golden Queen Mining... 

Fortune issues shares to former Revenue owners

By: Creamer Media Reporter Canadian silver firm Fortune Minerals has issued 17.74-million common shares of the company to the former owners of Colorado-based Revenue silver mine, which it bought earlier this year. The shares were issued at a deemed price of C$0.25 a piece and completes the final instalment of the... 

Visible Gold Mines airborne survey for new James Bay project 50% complete

By: Creamer Media Reporter Prospectair Geosurveys of Gatineau, Québec, has completed about 1 977 linear kilometres, representing 50%, of a detailed helicopter-borne magnetic (MAG) and time-domain electromagnetic (TDEM) survey of TSX -V-listed Visible Gold Mines’ 100% owned 167 EXTENSION project in the region of the Plan... 

Paramount further expands San Francisco bulk tonnage potential at San Miguel

By: Creamer Media Reporter New core drilling at TSX- and NYSE-listed Paramount Gold & Silver’s 100%-owned San Miguel project in northern Mexico continues to expand the potential size of the bulk minable San Francisco deposit. The US-based exploration and development company reported on Wednesday that three new holes... 

Geological tests at Guadalupe de los Reyes indicate high-grade mineralisation

By: Leandi Kolver Geological mapping and rock sampling along several structures at junior mineral exploration and development company Cangold’s 6 302 ha Guadalupe de los Reyes (GDLR) gold/silver project, in Mexico, has again returned high-grade gold and silver assays, the company announced on Tuesday. During these... 

Continental Gold announces positive PEA for Buriticá project

By: Creamer Media Reporter JOHANNESBURG (miningweekly.com) – The results of the independent preliminary economic assessment (PEA) at TSX-listed Colombia-focused Continental Gold’s 100%-owned Buriticá project, in Antioquia, Colombia, outlined a future mine that will employ more than 500 people, with the size, cost... 

Alcyone calls in administrators as it fails to raise cash

By: Esmarie Swanepoel Struggling silver miner Alcyone Resources has been forced to appoint administrators, after failing to raise cash. In December last year, Alcyone signed a A$25-million financing deal with global hedge fund Platinum Partners, and has also agreed to a A$5-million buy of the Red Arrow mine, in the US. 

Primero’s exploration campaign extends top-producing vein at San Dimas

By: Henry Lazenby An exploration programme at the San Dimas precious metals mine, in Durango state, Mexico, had extended the mine’s top-producing vein beyond a minor vault that was previously regarded as its limit, TSX- and NYSE-listed Primero Mining reported this week. The 2014 exploration programme was... 

Tahoe Resources declares maiden dividend

By: Henry Lazenby After declaring commercial production at its flagship Escobal silver/lead/zinc mine, in south-eastern Guatemala in January, TSX- and NYSE-listed miner Tahoe Resources has declared a maiden dividend of $0.02 a share. The Vancouver-based company said its board had on Monday approved a monthly... 

First Majestic Silver aims at 2006 cost levels to compete with falling silver price

By: Henry Lazenby Staring down the reality of sustained lower precious metals prices, Mexico-focused silver producer First Majestic Silver’s president and CEO Keith Neumeyer on Wednesday said the company was focused on bringing company-wide cost structures down to 2006 levels. In an effort to cut costs in the low... 

Silver Wheaton’s Q3 net earnings slide on asset impairments

By: Henry Lazenby The world’s biggest precious metals streaming firm Silver Wheaton on Wednesday reported a 94% slide in its third-quarter net earnings, after falling metals prices had forced asset write-downs. For the three months ended October 30, silver prices had dropped 19% and gold prices fell 9%, prompting... 

Silver Wheaton’s Q3 net earnings slide on asset impairments

Canadian mining M&A momentum continues with more deals

By: Henry Lazenby The mergers and acquisitions (M&A) momentum Canada’s mining industry had built so far during 2014 continued to gather pace on Monday, after Vancouver-based New Gold announced a C$16.6-million all-scrip offer for exploration firm Bayfield Ventures that would enhance New Gold’s land holdings in the... 

Samco Gold confident in setting itself apart from peers in next 12 months

By: Henry Lazenby With prospective projects located on the Deseado Massif of Santa Cruz, Argentina, a potential joint-venture (JV) partner with which to move forward on its flagship asset, and with an innovative financing agreement in place, Canadian project developer Samco Gold is on the cusp of differentiating... 

Primero Q3 profit drops after booking $99m impairment on Brigus deal

By: Henry Lazenby Canadian precious metals miner Primero Mining on Thursday reported a net loss of $105.9-million, or $0.66 a share, in the three months ended September 30, which included a goodwill impairment charge of $99-million related to its $220-million Brigus Gold acquisition in March. The latest quarter’s... 

New Talisman sells first gold/silver from NZ mine

By: Esmarie Swanepoel Junior New Talisman Mines has sold its first precious metal from the Talisman mine, in New Zealand. The ASX-listed company said on Thursday that 50 t of ore, containing 64.5 oz of gold and 227.3 oz of silver had been dispatched from the Talisman mine, generating revenues of some NZ$100 000 for... 

Tahoe lifts Guatemala mine’s reserves, publishes feasibility study

By: Henry Lazenby Silver miner Tahoe Resources, which operates the Escobal silver/lead/zinc mine, in south-eastern Guatemala, has reported an 18% increase in the compliant measured and indicated resources at its flagship operation, supported by a feasibility study. The TSX- and NYSE-listed miner said on Wednesday... 

Sunridge Gold reports Eritrea fieldwork proceeding apace

By: Henry Lazenby Canadian project developer Sunridge Gold, which is developing the Asmara copper/zinc/gold/silver project, in Eritrea, in the Horn of Africa, says fieldwork is proceeding apace on several fronts. The Asmara project consists of six defined deposits, four of which are the subject of a feasibility... 

IDM Mining starts environmental permitting for BC gold project

By: Henry Lazenby TSX-listed IDM Mining has initiated the environmental permitting phase for the Red Mountain underground gold project, near Stewart, in British Columbia, following the submission of its project description document to the British Columbia Environment Assessment Office (EAO). IDM, which was... 

Mawson West starts commissioning of DRC flagship

By: Henry Lazenby Commissioning of Africa-focused miner Mawson West's Kapulo mine, in the Democratic Republic of Congo (DRC), has started, with construction capital costs having been reduced by about $14-million. The Perth, Australia-based company said on Tuesday that the ramp-up to nameplate capacity was expected... 

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