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Osisko to raise C$200m for working capital and general corporate purposes

By: Tracy Hancock TSX-listed Osisko Gold Royalties has agreed to sell 10 960 000 special warrants of the corporation, on a bought deal private-placement basis, at a price of C$18.25 per special warrant, representing aggregate gross proceeds of about C$200-million. The Montreal-headquartered gold-focused royalty... 

King succeeds Cockerill as Hummingbird chairperson

By: Natalie Greve Multiproject gold company Hummingbird Resources has appointed Russell King as nonexecutive chairperson with immediate effect, replacing retired Ian Cockerill. Cockerill would remain an adviser to Hummingbird and, in this capacity, had been appointed to the company's Technical Advisory Committee,... 

Mountain Province Diamonds arranges C$100m in private financing

By: Henry Lazenby Precious-gem project developer Mountain Province Diamonds on Tuesday announced that it had raised C$100-million in private placements for use in construction of the Gahcho Kué project, located in Canada’s Northwest Territories. The TSX- and NYSE MKT-listed firm reported that a syndicate of... 

Enbridge finalises $7.5bn mainline replacement cost estimate

By: Henry Lazenby Oil and gas infrastructure giant Enbridge this week announced that it had finalised the $7.5-billion cost estimate for its largest capital project ever, the Line 3 Replacement (L3R) programme. The L3R project entails replacing all segments of Line 3 between Hardisty, Alberta, and Superior,... 

Teranga Gold announces $30m ‘bought deal’ financing

By: Henry Lazenby Dual-listed gold miner Teranga Gold Corp, which is focused on its assets in West Africa, on Thursday announced a $30-million ‘bought deal’ financing with a syndicate of underwriters. Under terms of the deal led by Cormark Securities and including Macquarie Capital Markets Canada, CIBC World... 

Stornoway clinches financing agreement to build Quebec’s only diamond mine

By: Henry Lazenby Construction of the Renard diamond project, Quebec’s only large-scale diamond mine, on Wednesday moved another step closer to materialising after its proponent, Stornoway Diamond Corp, revealed that it had wrapped up negotiations on a series of financing transactions totalling C$944-million. The... 

Barrick Gold completes $3bn offering, continues debt tender offer

By: Henry Lazenby Barrick Gold, the world's biggest gold producer, on Thursday said it had completed its $3-billion bought deal equity offering of 163.5-million common shares at a price of $18.35 a share, for net proceeds of about $2.9-billion. The offering increased Barrick’s total common shares outstanding to... 

Shale gas prices believed to have bottomed, impacting industries

By: Henry Lazenby Most exploration and production (E&P) market participants that contributed to a recent market survey believe shale gas prices have bottomed out and 87% of survey respondents predicted natural gas prices would stay the same or increase over the next two years or increase by 10% or more in the next... 

Minera IRL to raise C$32m to fund Peru development

By: Natalie Greve TSX-, Aim- and Lima Stock Exchange-listed Latin American gold mining company Minera IRL was looking to raise some C$32-million through the sale of ordinary shares in the company.The proceeds from the offering would largely be directed towards funding the early development costs of its Ollachea... 

PTM prices public offering

By: Henry Lazenby Toronto-listed Platinum Group Metals (PTM) would issue 225-million common shares at a price of 80 Canadian cents apiece in a market offering to raise C$180-million to fund construction and exploration activities at its South African platinum-group metals projects. The company intends to use the... 

PTM launches C$180m offering

By: Henry Lazenby Toronto-listed Platinum Group Metals (PTM) intends to launch a market offering of common shares to raise C$180-million to fund construction and exploration activities at its South African platinum-group metals projects. PTM on Monday said the offering would be priced in the context of the market... 

Company Announcement: PMI Gold Corporation Completes Equity Financing; Overallotment Option Exercised in Full

PMI Gold Corporation is pleased to announce that it has completed its previously announced public offering of common shares 

PMI sets sights on C$100m raising

By: Esmarie Swanepoel Dual-listed PMI Gold Corporation would look to raise some C$100-million through a share placement to a syndicate of underwriters, to fund the development of its Obotan gold project, in Ghana. Under the terms of the underwriting agreement, ASX- and TSX-listed PMI would sell more than 119-million... 

Rough diamond prices to remain under pressure in the near-term

By: Natasha Odendaal The rough diamond market was in a “difficult phase”, with slowing diamond sales, falling prices, continued tight liquidity in cutting centres and weaker economic prospects in China negatively impacting on the short-term outlook for the market, RBC Capital Markets analyst Des Kilalea said on... 

$200bn capex ambition of mining majors under spotlight

By: Martin Creamer The great China-led economic supercycle that has been boosting global economies for a decade is falling below its expected trajectory, which is giving rise to questions supercycle slippage and demise.  

South Africans spearheading new Guinea bauxite thrust

By: Martin Creamer South Africans are spearheading a new bauxite thrust in Guinea, which hosts a quarter of the world’s bauxite reserves. Adonis Pouroulis, better known as the initiator of Petra Diamonds – now listed on the main board of the London Stock Exchange – is leading Alufer Mining Limited’s thrust from... 

NAP to raise C$35m for Ontario palladium mine

By: Henry Lazenby Precious metals producer North American Palladium (NAP) on Wednesday said it had entered into an agreement with a syndicate of underwriters co-led by Scotia Capital and RBC Capital Markets to raise C$35.03-million, by selling 11.3-million flow-through shares at C$3.10 apiece. The proceeds from... 

Queensland court dismisses Vale’s Belvedere appeal

By: Esmarie Swanepoel The Queensland Supreme Court has closed off Brazilian giant Vale’s last avenue of appeal in its dispute with diversified junior Aquila Resources, regarding the value of the Belvedere hard coking coal project. The Court of Appeals has dismissed Vale’s appeal against a June 2011 verdict, which... 

Company Announcement: Great Basin Gold Announces Closing Of C$50 Million Bought Deal

Public Offering Of Units 

Company Announcement: PMI Gold completes 35 million dollar public offering of common shares

PMI Gold Corporation is pleased to announce that it has completed its previously announced bought deal public offering of 28,000,000 common shares 

Great Basin Gold announces new deal to raise C$50m

By: Henry Lazenby Dual-listed Great Basin Gold has terminated its bought deal announced last week, and replaced it a new deal, sweetening the offer price to C$0.75 a share. The junior mining company was aiming to raise C$50-million to carry its Burnstone gold mine, in South Africa, through to the third quarter,... 

Great Basin needs another C$50m

By: Matthew Hill Gold junior Great Basin on Thursday said it is raising C$50-million in a bought deal financing to carry its Burnstone mine in South Africa through to the third quarter, when it expects the operation to be cash-flow positive. The company has consistently failed to meet production targets at the... 

Company Announcement: NovaGold Reports Significant New Drill Results at Galore Creek

Bountiful In-fill Drill Results Yield Average Grades Higher than Those in Pre-Feasibility Study
Multiple Significant Intersections in Resource Infill Program, Including 
185 meters of 1.29% Copper and 0.51 g/t Gold. 

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