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Topic

RNC lifts Beta Hunt mine's Q4 output 21% y/y

By: Henry Lazenby     19th January 2018 Diversified Canadian miner RNC Minerals has reported a 21% year-on-year increase in fourth-quarter gold output from the Beta Hunt mine, in Western Australia, producing 12 722 oz of gold. The Toronto-headquartered company mined 160 000 t of ore at Beta Hunt, which had an average grade of 2.47 g/t... 

Two top gold miners hit 2017 gold guidance

By: Henry Lazenby     17th January 2018 Two of the world’s largest gold producers by volume have realised their production goals for 2017. Toronto-based Barrick Gold, currently still the world’s largest gold producer by output, on Tuesday announced that preliminary full-year gold output of 5.32-million ounces for 2017 was in line with... 

NextSource soars on Japanese approval of registered SuperFlake product trademark

By: Henry Lazenby     17th January 2018 The TSX-listed equity of one of the graphite industry’s best kept secrets, NextSource Materials, has recorded significant gains on Tuesday following a company announcement that Japan has approved the company’s registration of ‘SuperFlake’ graphite as a trademark in the country. The registration... 

DNI inks flake graphite offtake deal with Korea Graphite

By: Henry Lazenby     16th January 2018 Madagascar-focused graphite project developer DNI Metals has signed a binding supply agreement with ASX-listed Peninsula Mines’ subsidiary Korea Graphite to supply up to 24 000 t/y of flake graphite, the company announced on Monday. The deal is subject to Korea Graphite finalising offtake... 

Rockwell subsidiaries sale still on the table

By: Henry Lazenby     16th January 2018 A two-pronged purchase offer by Ascot Diamonds to acquire the three bankrupt South African subsidiaries, and later, a Cayman-based entity of Canadian miner Rockwell Diamonds is still a viable solution to achieve a sale transaction and therefore, a higher recovery value for creditors, Rockwell... 

RNC in talks with financiers, market participants for Dumond construction decision by 2019

By: Henry Lazenby     15th January 2018 Diversified Canadian miner RNC Minerals is engaging a number of potential strategic investors, offtake partners and financiers who could provide the $1.3-billion capital financing required to start construction of the shovel-ready Dumont nickel/cobalt project, in the Abitibi region of Quebec. The... 

Fura closes in on Colombian emerald mine buy; to create single-stop Dubai-based gemstone shop

By: Henry Lazenby     13th January 2018 Canadian gemstone-focused miner Fura Gems is setting up a single-stop destination in Dubai, where rubies and emeralds produced from its Mozambique and Colombian assets will be graded and sold at the Almas Tower. “The Almas Tower is arguably one of the most secure spaces in the world, from where... 

Canadian companies struggle to plan for post-NAFTA world

By: Reuters     12th January 2018 Canadian industries that would be most acutely impacted by the death of the North American Free Trade Agreement are unable to meaningfully plan for a possible post-NAFTA world given the uncertainty of what could replace it, analysts and executives said. With three quarters of Canadian exports... 

Centerra finally receives Turkish pastureland permit

By: Henry Lazenby     12th January 2018 TSX-listed gold producer Centerra Gold has received the Turkish pastureland permit for its Öksüt growth project, paving the way for the project’s future development. The Toronto-based company advised on Thursday that its Turkish subsidiary Öksüt Madencilik Sanayi ve Ticaret (Omas) took receipt of... 

Cobalt and 11% yields lure risk-takers to this Canadian miner

By: Bloomberg     10th January 2018 Sherritt International Corp’s double-digit bond yields are beginning to lure investors, even as questions linger about whether the Canadian miner has unloaded enough debt and turned around its sputtering projects. The Toronto-based firm restructured its Ambatovy mining joint venture, in... 

Lithium at depth in Namibia – Montero 

By: Martin Creamer     10th January 2018 Significant concentrations of lithium mineralisation have been established in Namibia, where Montero Mining and Exploration has completed assaying historical drilling results.  The Toronto Venture Exchange-listed company announced on Wednesday that lithium-bearing mineralisation, found to be... 

Bacanora expands Zinnwald potential with licence for previously mined deposit

By: Mariaan Webb     10th January 2018 Lithium developer Bacanora has been granted an exploration licence of the previously mined Falkenhaim lithium deposit, in Saxony, Germany. The licence is about 5 km from Bacanora’s 50%-owned Zinnwald lithium project and has the potential to increase the life of a mine at Zinnwald, the London-... 

Seabridge mobilises to drill Courageous Lake

By: Henry Lazenby     9th January 2018 TSX- and NYSE-listed precious metals explorer Seabridge Gold is mobilising crew and equipment to start an exploration campaign at its 100%-owned Courageous Lake project, located in Canada’s Northwest Territories, in February. The Toronto-based explorer plans to drill 36 holes over 7 200 m to test... 

Largo racks up new production records at Maracás Menchen as vanadium price rockets

By: Henry Lazenby     4th January 2018 Vanadium producer Largo Resources has set a new monthly production record at its flagship Maracás Menchen vanadium mine, in Brazil’s Bahia state, after the plant performing 12.9% above its nameplate capacity. Toronto-based Largo advised that the performance improvement is owing to the operating... 

Two miners die at Golden Star’s Prestea mine, Ghana

By: Henry Lazenby     3rd January 2018 The TSX-listed equity of Africa-focused miner Golden Star Resources shed as much as 10% on Tuesday, following a company announcement that two miners have died on December 29 at its Prestea Underground mine, in Ghana. The Toronto-headquartered company, which also has listings on the Ghana Stock... 

Year's best commodities fund is betting on 2018 mining M&A

By: Bloomberg     29th December 2017 This year’s best-performing commodity fund is betting on more mining companies turning to deal-making for growth in 2018. Commodity Capital Global Mining Fund racked up returns of 106% this year, the best performance among 409 commodity-focused funds tracked by Bloomberg, excluding... 

TSX, NYSE American to delist Banro equities

By: Henry Lazenby     28th December 2017 Embattled miner Banro has received notice from both the TSX and the NYSE American exchanges that its trade-suspended equities will be delisted in the New Year. The Toronto-based miner, which operates two gold mines in the Democratic Republic of Congo (DRC), on Friday filed for bankruptcy... 

Water shortfall shutters Centerra’s Mount Milligan mill

By: Henry Lazenby     27th December 2017 Drier-than-normal spring and summer weather conditions, combined with unexpectedly frigid temperatures during the current quarter, have contributed to a water shortage at Centerra Gold’s Mount Milligan mill, in British Columbia, forcing the company to temporarily shutter the plant. The... 

Even with Trump minerals order, US miners seen trailing China

By: Henry Lazenby     23rd December 2017 Even if Donald Trump’s initiative on 'critical minerals' strengthens the US mining industry, domestic companies would still struggle to compete with low-cost Chinese competitors, according to Bloomberg Intelligence. The president signed an executive order this week to identify new US sources of... 

Outback's nascent gold rush hits speed bump on drill results

By: Henry Lazenby     23rd December 2017 The nascent gold rush in Western Australia’s remote outback hit a speed bump after a key player reported disappointing drilling results. Novo Resources, the Canadian explorer that kicked off the rush in July after finding nuggets in the northern Pilbara region, notched up its biggest drop in six... 

Money hungry Nautilus weighs funding options as project challenges mount

By: Henry Lazenby     22nd December 2017 Marine mining pioneer Nautilus Minerals is in active discussions with a range of potential financiers and shareholders to secure the funding required to start mining the Solwara 1 project, offshore Papua New Guinea (PNG), the company said on Thursday. The company has thus far been unsuccessful to... 

Lithium rookie posts dizzying gain as promoter praises stock

By: Bloomberg     21st December 2017 The electric-vehicle revolution is propelling impressive gains in commodity and equity prices around the world, few more dizzying than Liberty One Lithium. The penny stock, which has changed its name twice since 2016 and is years away from an operating mine, surged 250% in October, when both the... 

Separate stock exchange listing for Aura’s Sweden project

By: Mariaan Webb     13th December 2017 Dual-listed uranium and gold focused Aura Energy has started the process to list its Häggån project in Sweden separately on multiple international exchanges to “maximise the value of the battery metal content” of the project. The project contains vanadium, molybdenum, cobalt, neodymium, nickel... 

Cobalt 27 adds more than 700 t cobalt metal to stockpile at $36/lb

By: Henry Lazenby     9th December 2017 Cobalt direct investment vehicle Cobalt 27 has announced that it plans to add about 720 metric tonnes of physical cobalt metal to its current stockpile of just under 2 200 t. The Toronto-headquartered company said on Thursday it has entered an agreement with a syndicate of underwriters co-led by... 

First mover Noront shifts RoF focus to Cu/Zn exploration

By: Henry Lazenby     8th December 2017 With the first commitments in place to build roads into Northern Ontario’s emerging Ring of Fire (RoF) mining camp, regional first mover Noront Resources is taking the opportunity to continue to build out its inventory of polymetallic resources by prioritising copper/zinc targets for exploration... 

Newmont poised to oust Barrick as world's top gold producer

By: Bloomberg     7th December 2017 Newmont Mining’s Gary Goldberg has the title of world’s biggest gold producer within his grasp. The CEO raised his 2018 production forecast to a range of 4.9-million to 5.4-million ounces. That exceeds Barrick Gold’s 2018 guidance of 4.8-million to 5.3-million given in February, which doesn’t... 

Don't expect fireworks for gold in 2018, just a gentle nudge up

By: Bloomberg     6th December 2017 Gold has its fans for next year, but sparks are probably not going to fly. Even as the Federal Reserve tightens monetary policy and the European Central Bank tapers bond purchases, gold is set to rise marginally as real interest rates stay low and the dollar weakens, according to Bart Melek,... 

Mountain Province prices $330m senior second-lien notes to settle construction debt

By: Henry Lazenby     2nd December 2017 Diamond producer Mountain Province Diamonds has launched a $330-million debt financing to settle its Gahcho Kué project construction loan facility and to repay previously sunk expenses by the mine’s majority owner and operator De Beers Canada. The Toronto-headquartered company is offering senior... 

Lundin stock tumbles on disappointing production outlook

By: Henry Lazenby     1st December 2017 Base metals producer Lundin Mining saw about 21% of its TSX-listed equity wiped out on Thursday after it reported a disappointing long-term production outlook on Wednesday. The Toronto-headquartered company punted significant investments in both the Candelaria copper mine and mill, in Chile,... 

IDC outlines actions for mining industry to inch closer to success

By: Mia Breytenbach     28th November 2017 While the Toronto Declaration-based standards for the mining industry, adopted by the International Council of Metals and Mining, are broadly accepted as encompassing mines’ social licence to operate, only an “arrogant or stupid person” would argue that all relevant standards have been met, says... 

Primero finalises Cerro del Gallo development project sale to Argonaut

By: Henry Lazenby     28th November 2017 Precious metals producer Primero Mining has completed the sale of its development asset, the Cerro del Gallo mine, in Guanajuato state, Mexico, to fellow Canadian miner Argonaut Gold. Under terms of the transaction, Toronto-headquartered Primero pocketed $15-million in cash, which it advised on... 

Noront hits encouraging VMS mineralisation at McFaulds No 8; requests proposals for plant

By: Henry Lazenby     27th November 2017 Ring of Fire (RoF) development champion Noront Resources has intersected encouraging results at the McFaulds No 8 volcanogenic massive sulphide (VMS) deposit, hosted on the property where the first discoveries in the RoF were made and which spurred the initial staking rush in 2002 to 2003. The... 

Myopic gold CEOs get a tongue-lashing from Randgold's Bristow

By: Bloomberg     26th November 2017 A gold industry obsessed with containing costs and minimizing risks will find itself at the edge of a cliff by 2020 as supply tightens, according to one of the most profitable producers. Despite prices recovering from 2015 lows, the industry has been slow to reinvest in exploration or sustaining... 

Mountain Province records higher revenues from 9th diamond tender

By: Henry Lazenby     23rd November 2017 The seventh sale of diamonds produced from Mountain Province Diamonds’ 49%-owned Gahcho Kué mine, in Canada’s Northwest Territories, saw the average price of rough stones strengthen, despite a cautious market. The Toronto-headquartered company, which has a 49% stake in the Gahcho Kué mine, in... 

Torex sets El Limon Guajes record straight as rival unions clash

By: Henry Lazenby     22nd November 2017 Canadian gold producer Torex Gold Resources has issued a press release criticising a labour union and the media for spreading misinformation regarding an incident over the weekend where two people were killed near its El Limon Guajes (ELG) mine, in Mexico. The Toronto-based company said that an... 

Cobalt One shareholders approve merger with First Cobalt

By: Anine Kilian     21st November 2017 Junior cobalt miner Cobalt One’s shareholders have approved a merger with Toronto-based First Cobalt, which means that the companies are one step closer to creating the largest pure-play cobalt company in the world. Cobalt One announced on Monday that 99.995% of the shareholders’ votes were in... 

Sampling confirms lithium in Namibia – Montero

By: Martin Creamer     17th November 2017 Exploration and development company Montero, which is putting mineralisation to the test in Namibia in search of a lithium resource, on Friday confirmed the presence of the soft silver-white metal in central Namibia. “Montero’s first channel sampling programme has confirmed lithium,” Montero CEO... 

Atlatsa incurs $292m loss

By: Martin Creamer     14th November 2017 Toronto- and Johannesburg-listed platinum-mining company Atlatsa, which has platinum assets on the northern and eastern limbs of the Bushveld Complex, incurred a net loss of $292.6-million in the nine months to September 30, when its liabilities exceeded its assets by $142.5-million. The main... 

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