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Topic

Mkango shareholders approve Talaxis investment transaction

By: Megan van Wyngaardt     19th January 2018 Shareholders of Aim- and TSX-V-listed Mkango Resources have approved an investment transaction with Noble Group subsidiary Talaxis. In November, the company secured a direct investment from Talaxis, to be paid in three tranches, in exchange for a 49% interest in Mkango subsidiary Lancaster... 

IFR gains Mexican drilling permit

By: Henry Lazenby     13th January 2018 The TSX-V-listed equity of oil and gas explorer International Frontier Resources (IFR) has gained about two-thirds this week after it announced on Thursday that it has received a drilling permit for its Tecolutla onshore oil and gas block, which it is developing with its Mexican joint venture... 

Enbridge Q3 earnings disappoint

By: Henry Lazenby     2nd November 2017 Canadian oil and gas pipeline infrastructure operator Enbridge has reported an adjusted third-quarter profit of C$632-million, or C$0.39 a share, missing the average Bay Street analyst forecast calling for earnings of C$0.43 a share. The Calgary, Alberta-based company reported net profit for the... 

Bacanora secures environmental nod for Mexico lithium project

By: Mariaan Webb     20th October 2017 Calgary-headquartered Bacanora Minerals has secured the final key requirement for its flagship lithium project, announcing on Friday that Mexico’s Environmental Ministry had approved a 35 000 t/y lithium carbonate operation at Sonora. The approval is a major milestone for Bacanora, which is... 

This junior miner surged five-fold on mine asset sale

By: Bloomberg     6th October 2017 West High Yield Resources, a little-known Canadian miner, surged as much as 1 000% after it said it sold a magnesium deposit to a US buyer for $750-million – or 46 times the company’s market value. West High Yield, which has no revenue, jumped five-fold in Toronto trading to close at C$2 after... 

Bullish outlook for Canadian crude, natural gas provides investment opportunities

By: Henry Lazenby     15th September 2017 Two reports issued this week point to a significantly increased global appetite for fossil fuels like oil and gas, presenting an investment opportunity for energy speculators. While renewables are forecast to be the fastest-growing energy source, fossil fuels will continue to be important and... 

Prize Mining exploration hits highest gold-in-soil sample ever at Silver King shear system

By: Henry Lazenby     16th August 2017 Junior explorer Prize Mining has intersected the highest gold-in-soil sample in recorded history along the Silver King shear system at its Kena-Daylight gold project, in south-eastern British Columbia. The Calgary, Alberta-based company on Tuesday reported the initial batch of soil assay results... 

Potash majors report slow-but-steady market recovery as robust demand pushes prices, profits higher

By: Henry Lazenby     10th August 2017 Canadian potash majors Potash Corp of Saskatchewan and Agrium Inc have reported higher sales volumes for the crop nutrient for the second quarter ended June 30, pushing potash prices higher, despite a persisting market glut. Calgary, Alberta-based Agrium has reported adjusted net earnings – which... 

CPP investment board to pick up Shell’s 45% stake in Irish Corrib gasfield

By: Henry Lazenby     12th July 2017 The Canada Pension Plan Investment Board (CPPIB) will pay nearly C$1.2-billion to become the largest partner in the Corrib offshore natural gas field, 83 km offshore Ireland. The Toronto-based fund manager will initially buy a 45% interest in the project from a subsidiary of the Dutch exploration... 

Shell completes exit from Canadian oil sands

By: Henry Lazenby     31st May 2017 The world’s second largest publicly traded oil company Royal Dutch Shell is exiting Canada’s oil sands sector after announcing that subsidiaries Shell Canada Energy, Shell Canada Limited and Shell Canada Resources signed two agreements that will transform its Canadian business. Under the two... 

Fasken Martineau Named “Global Mining Law Firm of the Year”

     25th May 2017 Fasken Martineau announced that, for the third consecutive year and the ninth time overall, it has been named “Global Mining Law Firm of the Year 2017” by Who’s Who Legal. Additionally, Michael Bourassa has received the “Lawyer of the Year 2017” award for Mining. With over 150 years’ experience... 

TransCanada reports bumper Q1 earnings

By: Henry Lazenby     5th May 2017 Pipeline operator TransCanada has more than doubled its first-quarter profit, boosted higher by a 35% jump in revenues, the company announced Friday. The Calgary-based company said that higher contributions from its US and Mexican natural gas pipelines and higher earnings from Western Power... 

Agrium swings to Q1 loss on higher costs, lower phosphate prices

By: Henry Lazenby     2nd May 2017 Higher natural gas prices and lower phosphate prices have driven Calgary-based Agrium to a smaller-than-expected first-quarter loss. The owner of the largest farming input retail distribution network in North America, which is in the process of merging with Canadian counterpart Potash Corporation... 

Agrium completes commissioning of $720m Borger urea plant, Texas

By: Henry Lazenby     18th April 2017 TSX- and NYSE-listed Agrium has commissioned its new urea plant at the Borger Nitrogen Operations facility, in Texas, having completed its first run of urea production – widely used in fertilisers as a source of nitrogen. The Calgary-based company, which controls the largest retail distribution... 

TransCanada to push ahead with C$1.4bn North Montney gas pipeline earlier than expected

By: Henry Lazenby     21st March 2017 Pipeline operator TransCanada has filed a variance application with the National Energy Board to proceed with construction of the North Montney Mainline Project (NMMP) ahead of schedule. The Calgary, Alberta-based oil and gas transporter has already been granted the required federal and... 

Canadian crude index outperforms WTI, as oil sags and natural gas rallies

By: Henry Lazenby     11th March 2017 While crude oil was in a tight range in January and February, the price of crude oil has risen since the election of US President Donald Trump last November. That was until early March, when the West Texas Intermediate (WTI) benchmark corrected and this week dipped below the psychologically... 

Agrium Q4 profit falls two-thirds as fertiliser market slump weighs

By: Henry Lazenby     10th February 2017 Calgary, Alberta-based fertiliser producer Agrium, which controls the largest retail distribution network in North America, has reported a 67% slide in net fourth-quarter earnings attributable to equity holders, to $67-million, or $0.49 a share. The company, which is in the process of merging... 

Dominion Diamond CEO quits

By: Henry Lazenby     31st January 2017 The CEO of the world’s third-largest diamond producer Dominion Diamond Corporation, Brendan Bell, has resigned, saying the corporate relocation from Yellowknife, in the Northwest Territories, to Calgary, Alberta, “is not the right move for my family”. The TSX- and NYSE-listed miner has engaged... 

Ikea Canada picks up second Alberta wind farm, pays Teck, TransAlta C$119.6m

By: Henry Lazenby     27th January 2017 Scandinavian furniture and furnishings company Ikea Canada has bought a second wind farm in Alberta as part of its global ambition to match its electricity consumption with renewable energy production by 2020. Ikea will acquire an 88 MW wind farm located near Drumheller, about 130 km east of... 

Trump aides said to prepare list of early energy changes

By: Bloomberg     21st January 2017 Donald Trump’s advisers have prepared a short list of energy and environmental policy changes he can take now that he has been sworn in as president, including steps to limit the role that climate change plays in government decisions and speed the review of cross-border pipelines. The list of... 

Manitok hits new production record

By: Henry Lazenby     9th December 2016 TSX-V-listed Manitok Energy has reached a new production record of 7 100 barrels of oil equivalent a day (boe/d), based on field estimates, surpassing the previous record of 6 500 boe/d achieved in October. Calgary-based Manitok, which focuses on Lithic Glauc (LG) oil reservoirs in south-east... 

Corporate relocation to Calgary to save Dominion C$19m a year

By: Henry Lazenby     8th November 2016 Canadian diamond producer Dominion Diamond Corp on Monday said a move to relocate its head office from Yellowknife, in the Northwest Territories (NWT), to Calgary, Alberta, is expected to save C$19-million a year once fully implemented. Despite costing about 100 jobs in the NWT, the project is... 

Auspice Capital launches first-ever Canadian Natural Gas Index ETF

By: Henry Lazenby     27th October 2016 Calgary-based alternative investment manager Auspice Capital Advisors has launched the first-ever Canadian Natural Gas Index ETF (GAS), the company announced on Thursday. Together with the Canadian Natural Gas Index (CGI), this exchange-traded fund (ETF) enables investors and market participants... 

Trudeau said to plan pipeline approval, favour Kinder Morgan

By: Bloomberg     14th September 2016 Canadian Prime Minister Justin Trudeau plans to approve at least one new oil pipeline project in his first term, with Kinder Morgan’s Trans Mountain expansion to the Pacific Coast the most likely candidate, people familiar with his plans said. The prime minister is seeking to strengthen... 

Anglo American’s Gahcho Kué to provide C$6.7bn boost to Canadian economy

By: Henry Lazenby     9th September 2016 A new report by professional services firm EY has calculated that the world’s largest new diamond mine under construction in Canada’s Northwest Territories (NWT), Gahcho Kué, will provide a C$6.7-billion boost to the Canadian economy. “Diamonds are perhaps one of Canada’s best kept secrets, yet,... 

Trudeau faces split Aboriginal groups in Kinder Morgan ruling 

By: Bloomberg     24th August 2016 In the rolling country of central British Columbia, Michael LeBourdais’s Whispering Pines Indian Band is looking forward to a cash injection from a new pipeline proposed by Kinder Morgan Energy Partners LP. He’ll be seeking compensation for his band if it doesn’t go through. Meanwhile, 400 km... 

Suncor expands reach in UK’s North Sea basin

By: Henry Lazenby     9th August 2016 Canadian oil and gas major Suncor Energy will acquire a 30% participating interest in the UK North Sea Rosebank project from international, integrated oil and gas company OMV for an initial payment of $50-million. Subject to conditions, including regulatory approval, subsidiary Suncor Energy UK... 

Suncor production adversely affected by wildfires

By: Megan van Wyngaardt     29th July 2016 Calgary-based energy company Suncor's total upstream production in the second quarter decreased to 330 700 barrels of oil equivalent per day (boe/d), compared with 559 900 boe/d in the first quarter of the year, mostly owing to the production shutdown at the company’s Oil Sands and Syncrude... 

Keystone’s death means record oil revival for Canadian railways

By: Bloomberg     27th July 2016 Keystone was the great hope for opening US markets further to Canadian crude. Now that it’s dead, the railways are going to make not just a comeback, but transport more oil than ever before. The Keystone XL pipeline was set to carry heavy Canadian crude south from Hardisty, Alberta’s oil hub,... 

TransCanada pipeline stake said to draw Canada pension interest

By: Bloomberg     26th July 2016 At least two groups that include Canadian pension funds are planning to submit bids this week for a minority stake in TransCanada Corp.’s Mexican pipeline business valued at about $2-billion, people with knowledge of the matter said. Canada Pension Plan Investment Board, Public Sector Pension... 

Husky hits snag in efforts to contain Saskatchewan oil spill

By: Bloomberg     25th July 2016 Husky Energy Inc. is running into difficulty containing and cleaning up a 1 570-bl oil pipeline spill that entered the North Saskatchewan River in Canada this week, after rising water levels compromised its initial plan to capture the release. The company responded Thursday morning when a sheen... 

Gran Tierra launches $525m bid for third Colombian acquisition this year

By: Henry Lazenby     4th July 2016 Calgary, Alberta-based oil and gas major Gran Tierra Energy has launched a $525-million bid to acquire independent exploration and production company PetroLatina Energy, marking the company’s third multimillion dollar push this year into Colombia. Under the terms of the acquisition agreement... 

New imaging technology to potentially disrupt optical industry

By: Henry Lazenby     13th June 2016 Former Vancouver-based rare earths explorer Elissa Resources has in February rebranded as NexOptic Technology and turned its attention to developing cutting-edge imaging technology in cooperation with Calgary-based acquisition target Spectrum Optix. NexOptic CEO Paul McKenzie explained to... 

More crude supply disruptions as wildfires threaten Cenovus's Pelican Lake ops

By: Henry Lazenby     8th June 2016 Canadian oil sands producer Cenovus Energy has shut down its Pelican Lake operations, in Alberta, as a wildfire approached less than 1 km from the plant. The Calgary, Alberta-based company said Wednesday that by 21:00 local time on Tuesday, it had safely evacuated 18 staff members to a temporary... 

Market slowdown sinks Precision Drilling’s Q1 performance

By: Henry Lazenby     25th April 2016 A marked decline in business activity during the quarter ended March 31 has pushed North American oil and gas industry services provider Precision Drilling’s earnings into negative territory, forcing it to suspend its dividend. The Calgary, Alberta-based company on Monday reported that activity... 

Bacanora completes prefeasibility study on Mexican lithium project

By: Henry Lazenby     4th March 2016 TSX-V- and Aim-listed project developer Bacanora Minerals has this week reported positive results of a prefeasibility study (PFS) completed on its flagship Sonora lithium project, in Mexico. Baconora in August last year became the first company to sign a conditional long-term agreement with... 

Slowing customer demand hits Trinidad Drilling hard

By: Henry Lazenby     3rd March 2016 Owing to a prolonged drop in oil and natural gas prices causing significantly reduced demand for drilling services in Canada and the US, Calgary, Alberta-based drilling services provider Trinidad Drilling has had to book significant impairments for 2015. The TSX-listed company on Wednesday... 

Agrium appoints three new directors, expands board to 12

By: Henry Lazenby     26th February 2016 Agricultural products producer Agrium Inc this week expanded its board to 12 members after it appointed three new directors, 11 of which are independent. Calgary, Alberta-based Agrium appointed Maura Clark, Miranda Hubbs, and William (Bill) Simon to its board, effective from Wednesday. 

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