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Klondex to lift FY2017 output 36%

By: Henry Lazenby     25th March 2017 Gold and silver producer Klondex Mines has forecast a 36% year-on-year increase in output on the back of producing a record 151 007 gold equivalent ounces (GEOs) from its Nevada operations last year, exceeding the high end of management's guidance range. "We expect to produce between 210 000 and... 

Lucapa announces maiden Mothae resource estimate

By: Henry Lazenby     25th March 2017 Precious gem miner Lucapa Diamonds has published a maiden Joint Ore Reserves Committee-compliant resource estimate for the Mothae kimberlite pipe, in Lesotho. Mothae is located approximately 5 km from Gem Diamonds’ Letšeng mine. 

Rockwell in a bind as court issues interim liquidation order on 3 subsidiaries

By: Henry Lazenby     25th March 2017 A judge in Kimberley South Africa has on Thursday issued an interim liquidation order against three subsidiaries of TSX- and JSE-listed Rockwell Diamonds. The interim court order does not affect Rockwell Diamonds, the parent entity. 

Trump wastes no time to approve TransCanada’s Keystone XL pipeline

By: Henry Lazenby     24th March 2017 US President Donald Trump has issued a Presidential Permit approving the construction of TransCanada’s long-delayed $8-billion Keystone XL (KXL) pipeline on Friday. “TransCanada will finally be allowed to complete this long overdue project with efficiency and with speed. We're working out the... 

Sandstorm acquires 22 NSR royalties in Q1

By: Henry Lazenby     24th March 2017 Canadian gold streaming and royalty company Sandstorm Gold has acquired 22 net smelter return (NSR) royalties during the first quarter of 2017 for $1.9-million in cash. The assets include royalties on development-stage, advance exploration-stage and other exploration-stage projects located in... 

Excellon reports Q4 loss despite lifting output while fighting water ingress

By: Henry Lazenby     23rd March 2017 Mexico’s highest-grade silver miner Excellon Resources has narrowed its loss for the three months ended December 31, while lifting silver-equivalent output 20%. The Toronto-headquartered company recorded a net loss of $55 000, compared with a net loss of $1.7-million in the comparable period of... 

Nevsun finds more mineralisation at Eritrea-based Bisha, satellite deposits

By: Henry Lazenby     23rd March 2017 Canadian base metals producer Nevsun Resources has found more mineralisation at its flagship Bisha mine and satellite deposits in Eritrea, on the Horn of Africa. Drilling undertaken in 2016 has increased the inferred resource at the Harena deposit by nearly 130% to 25-million tonnes grading 0.93%... 

Canadian royalties, streaming firm Franco-Nevada reports rising revenues as it looks to diversify

By: Henry Lazenby     23rd March 2017 Canadian gold royalties and streaming firm Franco-Nevada Corp has recorded a 37.6% increase in revenue for 2016, boosted by record ounces delivered and soaring sales. The company, which derives income from 107 producing royalties and streams, achieved a 30.9% increase in gold-equivalent ounces... 

Côte d'Ivoire govt agrees to sell 25% Ity stake to owner-operator Endeavour

By: Henry Lazenby     23rd March 2017 Côte d'Ivoire State-owned mining company Sodemi has agreed to sell its 25% stake in the Ity gold mine back to Canadian gold miner Endeavour Mining. President Alassane Ouattara approved the State miner’s sale of ownership in the mine in a Cabinet meeting on Wednesday morning. Following the... 

No talks planned to end 5-1/2-week Quebec zinc plant strike – union

By: Reuters     22nd March 2017 No meetings are planned between management and striking workers at Noranda Income Fund's zinc refinery in Quebec, the second biggest in North America, a union official said on Wednesday, as the work stoppage dragged through a sixth week. The two sides last met, along with a mediator, on March 3... 

RNC, private equity firm Waterton Global form nickel-focused partnership

By: Henry Lazenby     22nd March 2017 Canadian miner Royal Nickel Corp (RNC) has joined forces with private equity firm Waterton Global Resource Management (WGRM) to buy, develop and operate nickel assets. The companies on Wednesday announced that they had inked a joint venture (JV) accord that will result in Waterton buying a 50%... 

Silver Wheaton board recommends name change as it rakes in record precious metals revenues

By: Henry Lazenby     22nd March 2017 The pioneer of the metals streaming mine financing model Silver Wheaton has proposed a name change to Wheaton Precious Metals, to better reflect the fact that an increasing proportion of its revenue is derived from gold. The Vancouver-based company on Tuesday said that, since 2013, it had seen a... 

Africa’s biggest copper find keeps giving as Ivanhoe hits mineralisation 3.8 km west of Kakula

By: Henry Lazenby     22nd March 2017 The TSX-listed stock of Africa-focused explorer Ivanhoe Mining on Tuesday rose 12% after it announced that it had encountered more shallow, high-grade mineralisation at Africa’s largest copper deposit ever – the Kamoa-Kakula copper discovery, in the Democratic Republic of Congo (DRC). A new hole... 

Endeavour, Acacia end merger talks

By: Henry Lazenby     22nd March 2017 Canadian gold miner Endeavour Mining has halted discussions with London-listed Acacia Mining regarding a potential merger. Endeavour, which operates a portfolio of gold mines in West Africa, has held talks with Acacia – which is majority owned by Canada's Barrick Gold – since mid-January. 

Dominion Diamond should open books to potential suitors – top shareholder

By: Reuters     22nd March 2017 Dominion Diamond, target of a $1.1-billion unsolicited bid, should run a formal sales process for the company and open its books to what could be several interested parties, Dominion's biggest shareholder told Reuters on Tuesday. The board of Dominion, the world's third-largest diamond producer... 

Jaguar gets a lift as cash flow, gold outlook rise

By: Henry Lazenby     22nd March 2017 The TSX-listed stock of Jaguar Mining on Tuesday rose as much as 8% after the company reported a 56% increase in operating cash flow to $37.8-million for the 2016 financial year, resulting in free cash flow turning positive year-on-year to $11.3-million. "2016 was a successful and... 

Northern Dynasty, EPA file joint motion to extend stay of proceedings

By: Henry Lazenby     21st March 2017 Canadian project developer Northern Dynasty Minerals on Tuesday said its Alaska-based subsidiary Pebble Limited Partnership (PLP) and the US Environmental Protection Agency (EPA) have filed a joint motion in federal court to extend a stay of proceedings in ongoing litigation under the Federal... 

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... 

Smaller global copper deficit seen in December – ICSG

By: Henry Lazenby     21st March 2017 The International Copper Study Group said Monday the global copper market deficit had fallen back to about 50 000 t in December, following a deficit of about 90 000 t in November. According to the group’s latest copper bulletin, world mine output is estimated to have increased by around 5%, or... 

Trilogy pulls the trigger on high-grade copper Arctic prefeasibility study

By: Henry Lazenby     20th March 2017 Alaska-focused mineral explorer Trilogy Metals will undertake a prefeasibility study (PFS) on the Arctic project, in Northwest Alaska – one of the highest-grade copper deposits known in the world with an average grade of 6% copper equivalent. "The PFS will demonstrate the true value of the... 

Argonaut drilling returns more low-grade ore, potential to extend mine life

By: Henry Lazenby     20th March 2017 TSX-listed Argonaut Gold has completed a 22-hole reverse-circulation (RC) drill programme totalling 5 139 m at the La Colorada mine in Sonora, Mexico, increasing the potential to expand the El Creston openpit beyond its current design. The drilling tested the down-dip extension of the open El... 

Teranga employee dies at Sabodala plant

By: Henry Lazenby     18th March 2017 An employee of TSX- and ASX-listed Teranga Gold has been killed at the company’s Sabodala gold mine, in Senegal, West Africa. The Toronto-headquartered company reported that Moussa Cissokho, who has been working at Sabodala since 2011, died on Friday while working in the process plant. 

Peabody Energy eyes Chapter 11 emergence in April

By: Henry Lazenby     18th March 2017 Private sector coal producer Peabody Energy expects to exit its Chapter 11 bankruptcy in early April, after a US judge on Thursday said he intends to confirm the company's amended plan of reorganisation. Bankruptcy Court Judge Barry Schermer said he was ready to sign an order to approve Peabody's... 

Dominion Diamond shares rise on improved 2018 sales forecast

By: Henry Lazenby     17th March 2017 The TSX-listed stock of Canada’s largest diamond producer Dominion Diamond Corp on Friday gained 12.33% to C$13.21, after the company announced late on Thursday that it expects fiscal 2018 sales to be between $875-million and $975-million, an increase of 62% over fiscal 2017 sales. The... 

Growing output, rising precious metal prices to benefit Maverix

By: Henry Lazenby     17th March 2017 Maverix Metals, a relatively newly TSX-V-listed royalty vehicle created last July, when Canadian miner Pan American Silver spun out its royalty portfolio, populating it with some of its management, is positioned to grow output and leverage rising precious metals prices over the coming years. The... 

AuRico gets federal enviro nod for multimillion-ounce Kemess project

By: Henry Lazenby     17th March 2017 Precious metals royalties firm and project developer AuRico Metals has received a positive decision statement from the Canadian Environmental Assessment Agency (CEAA), prompting the British Columbia Environmental Assessment Office (EAO) to grant an environmental-assessment certificate for the... 

Barkerville exploration returns high grades at Island Mountain

By: Henry Lazenby     17th March 2017 Ongoing drilling as part of a 130 000 m Phase 2 exploration programme by junior Barkerville Gold Mines on its flagship Cariboo gold project, in central British Columbia, has uncovered new high-grade gold mineralisation, not far from surface. The TSX-V-listed company on Thursday reported that... 

Iamgold completes $400m notes offering

By: Henry Lazenby     17th March 2017 Canadian midtier gold miner Iamgold has completed an offering of $400-million aggregate principal amount of 7% senior notes due in 2025. The company said it intends to use the net proceeds of the notes, together with existing cash on hand, towards the redemption, by April 2, of its $489-million... 

Wealth Minerals files technical report that will guide Atacama lithium exploration

By: Henry Lazenby     17th March 2017 Vancouver-based lithium exploration junior Wealth Minerals has filed a Canadian National Instrument 43-101-compliant technical report with securities regulators that will guide a two-pronged exploration campaign at the company’s Atacama lithium project, in Chile. To test the exploration potential... 

Buoyant investment demand drives silver price higher

By: Henry Lazenby     16th March 2017 New analysis by Washington-based, The Silver Institute, has found strong investment support drove strong price performance for silver during 2016, a trend that has continued this year. The silver price has started 2017 on a positive tone, rising by roughly 9% since the beginning of the year. This... 

Osisko Gold Royalties reports 13% rise in Q4 headline earnings

By: Henry Lazenby     16th March 2017 Osisko Gold Royalties has reported a 13% increase in its fourth-quarter adjusted earnings, to C$6.9-million, or C$0.07 a share, beating Bay Street analysts’ average forecast of earnings of C$0.06 a share. Montreal-based Osisko, which owns a portfolio of cost-free royalties on mines such as... 

Primero stock rises as Q4 results beat forecasts

By: Henry Lazenby     16th March 2017 Precious metals producer Primero Mining’s TSX- and NYSE-listed stocks put in a strong performance Wednesday, after the company reported fourth-quarter earnings that beat analyst estimates, despite reporting a headline loss. Toronto-based Primero’s NYSE-listed shares closed up 8.13%, and gained a... 

Peabody shuffles senior management on eve of reorganisation

By: Henry Lazenby     15th March 2017 The largest US coal miner, bankrupt Peabody Energy, on Wednesday announced that its Australian president Charles Meintjes has been promoted to executive VP for corporate services and chief commercial officer. George Schuller Jr will succeed Meintjes as the president for the Australian business... 

Breakthrough holmium data storage solution piques Matamec’s interest

By: Henry Lazenby     15th March 2017 Montreal-based rare earths project developer Matamec Explorations is excited about a breakthrough discovery by a team of nanoscience researchers, mainly from IBM’s Almaden Research Centre, in San Jose, California, of the ability to store one bit (1b) of data on a single holmium atom. The... 

Champion Iron acquires 735 iron-ore railcars

By: Henry Lazenby     15th March 2017 Iron-ore project proponent Champion Iron Ore has acquired an operational fleet of 735 specialised iron-ore railcars from Canadian Iron Ore Railcar Leasing, for $30.1-million. Champion chairperson and CEO Michael O’Keeffe on Wednesday said the acquisition brought the TSX- and ASX-listed company a... 

Lithium X raises C$15m through bought deal offering

By: Henry Lazenby     15th March 2017 Vancouver-based project developer Lithium X has raised gross proceeds of about C$15-million through a bought deal offering, which it will put to work at its flagship Sal de los Angeles lithium brine project, in Argentina. The junior offered 7.9-million common shares at a price of C$1.90 apiece,... 

Optimism on minerals seen seeping down to grassroots explorers

By: Henry Lazenby     15th March 2017 Noting the optimism exhibited at the recent Prospectors and Developers Association of Canada (PDAC) international convention, held in Toronto, project generator Transition Metals says the fundamental shift in confidence it saw over the past year is consistent with this. “If you look at the... 

Sandspring on the hunt for major minerals, partner in Guyana

By: Henry Lazenby     14th March 2017 Canada-listed project developer Sandspring Resources is firming up the resource base at the Toroparu gold project, in Guyana, with the focus on enticing a major partner to join the development of the nearly seven-million-ounce project. “We’ve got the backing of major mining investors such as... 

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