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Matthew Hill

Global Mining News in real time

Matthew Hill

Gold producers, Indian cutters might fund Canada’s newest diamond mines

8th June 2012 JOHANNESBURG (miningweekly.com) – With positive feasibility studies in hand, companies aim to start building at least three new diamond mines in Canada by the third-quarter of next year, at a combined cost of around $3.4-billion. →

First Uranium slams Olma’s proposal as ‘unrealistic’ with ‘zero chance’ of success

8th June 2012 JOHANNESBURG (miningweekly.com) – Toronto-based First Uranium on Monday rebuked a proposal from shareholder Olma Investment Group that the beleaguered gold and uranium producer seek better prices for the assets it has agreed to sell, and that convertible debt holders take a 5% to 10% haircut. →

Gold debt funding soared in March, April – MEG

1st June 2012 JOHANNESBURG (miningweekly.com) – While junior and intermediate mining companies raised 17% more capital in March and April compared with the first two months of the year, increasingly tough markets will likely choke off some exploration work, Halifax, Nova Scotia-based Metals Economics Group... →

Brazil Potash eyes Q4 $300m-$500m Bovespa IPO, CEO says

31st May 2012 Brazil Potash, hot on the heels of raising $58.6-million in equity this week, aims to sell another $300-million to $500-million worth of shares in a Brazilian initial public offering either in the last quarter of 2012 or the first three months of 2013, CEO David Argyle said in an interview on... →

Proxy advisory firms back First Uranium's management

31st May 2012 Two Canadian proxy advisory firms have recommended First Uranium shareholders vote in favour of the sale of its two key operations for a combined $405-million the troubled miner has proposed. Glass Lewis & Co. and Institutional Shareholder Services (ISS) both backed management’s statements that... →

Gold producers, Indian cutters might fund Canada’s newest diamond mines

30th May 2012 With positive feasibility studies in hand, companies aim to start building at least three new diamond mines in Canada by the third-quarter of next year, at a combined cost of around $3.4-billion. First the hopefuls, including Mountain Province, Shore Gold and Stornoway, need to raise the finance... →

Sabina sees 300 000 oz/y low-cost mine at Nunavut project

30th May 2012 Sabina Gold & Silver, hoping to build the Back River gold project in Nunavut’s West Kitikmeot region, on Tuesday said the asset came out of a preliminary economic assessment with a pre-tax $1.1-billion net present value. The study outlined a potential 300 000 oz/y gold mine, costing $450-million... →

Alexis gets $45m loan, to change name to QMX Gold

30th May 2012 Canada’s Alexis Minerals, which on Tuesday sealed a $45-million loan from Credit Suisse, said it will ask shareholders to vote in June to change the TSX-listed firm’s name to QMX Gold Corporation. The company will also put a 20:1 share consolidation before shareholders to decide on. →

Mountain Province, De Beers approve C$31m spend for NWT project

29th May 2012 Toronto’s Mountain Province Diamonds on Monday said it and joint venture partner De Beers had approved a C$31-million budget up to the end of March at the Gahcho Kué project in the Northwest Territories. The funding will mainly go towards preparation for construction to start, permitting,... →

First Uranium slams Olma's proposal as 'unrealistic' with 'zero chance' of success

29th May 2012 Toronto-based First Uranium on Monday rebuked a proposal from shareholder Olma Investment Group that the beleaguered gold and uranium producer seek better prices for the assets it has agreed to sell, and that convertible debt holders take a 5% to 10% haircut. In a strongly worded statement,... →

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