Turquoise Hill (TRQ:TSX) announced this morning that they have completed their US$2.4 billion rights offering which expired yesterday.  The company was able to get 100% of shareholders to participate in the offering which represents over 1 billion shares.  Large shareholders Rio Tinto and Robert Friedland fully participated in the offering.  According to the latest SEDI… Continue Reading

While many mining companies in Peru have encountered governmental, environmental and social issues, Rio Alto (RIO:TSX) has been able to advance the environmental nod to develop a sulphide copper-gold flotation plant and concentrator to process sulphide ore once the bulk of oxide gold reserves are exhausted from the La Arena phase 1 project.  The company has also… Continue Reading

Dr. Mark O’Dea’s Burkina Faso gold developer, True Gold Mining (TGM:TSXV), received good news this morning from the authorities of the West African nation; the company has been granted the environmental permit for the Kao deposit.  This environmental nod, keeps the company on track for its development timeline for the Karma gold mine.  They now have four of… Continue Reading

Dr. John-Mark Staude’s, prospect generator, Riverside Resources (RRI:TSXV) has announced they found a partner in Pembrook Mining (private) to option their Coatan gold project in Mexico.  Pembrook will have to pay Riverside $27,460 in cash and incur $1.8 million in expenditures on the project over the next four years to earn an initial 70% interest.  Then, to… Continue Reading

After coming off their huge Patterson Lake South win, the former management team of Alpha Minerals is now running Alpha Explorations (AEX:TSXV) which is a spinout with assets in the Cluff Lake and Patterson Lake areas in Saskatchewan.  They also hold prospective land in the Timmins gold camp area in Ontario.  Today they announced their… Continue Reading

Malcom Perry of the Vancouver Sun reported that Ted Turton, who co-founded Canaccord Genuity Group (CF:TSX) with Peter Brown, died this week at the age of 84. Our thoughts and prayers are with his friends and family. Mr. Turton and Mr. Brown paid $23,000 in 1968 for a small brokerage firm called Turton & Co. which became Canarim Investment… Continue Reading

THE CALANDRA REPORT: Subscribe $91 yearly Also: Sysorex Global, Inovio Pharma Solvista Gold corners Iamgold into a porphyry partnership at Caramanta in Colombia. Takeways: Breathing room for Solista’s Miller O’ Prey and Jeffrey Miller. Bob Allen’s Grupo de Bullet owns a hunk of Solvista (SVV in Canada). Solvista is one of our TCR 8 It… Continue Reading

Sound familiar?  That’s because Asanko Gold (AKG:TSX) and PMI Gold (PMV:TSX) attempted a merger in late 2012 that was mutually terminated in early 2013 after it became apparent they wouldn’t get the supermajority votes necessary to complete the transaction.  Now, after the largest price decline in gold in over a decade and the substantial derisking that… Continue Reading

Joseph Conway’s Primero Mining (P:TSX) announced this morning it has entered into a agreement to acquire Brigus Gold (BRD:TSX) in an all-share transaction.  Primero will use their stock, which has held its own this year, in an exchange ration of 0.175:1.  This values Brigus at approximately $220 million.  This bid represents a 43% premium to… Continue Reading

As most other banks try to offload their commodity trading desks amid weak commodity prices, Wells Fargo is attempting to build a desk in London, according to reports. Janet Mirasol was hired last month from R.J. O’Brien to lead their OTC and listed derivatives team in New York.  Wells will look to add commodities traders… Continue Reading

Running out of financial flexibility, Bruce McLeod’s Mercator Minerals (ML:TSX) has agreed to a merger/takeover by Intergeo which is a subsidiary of ONEXIM Group(controlled by Russian oligarch, Mikhail Prokhorov worth an estimated $13 billion).  The deal will see Mercator’s assets get a much needed injection of capital.  Intergeo’s controlling shareholder Daselina (part of ONEXIM) will provide a… Continue Reading

Albania’s largest foreign investor, Bankers Petroleum (BNK:TSX) is continuing to bet on its Albanian oilfields by announcing they intend to spend at least $313 million in capital next year up from the $247 million the company spent in 2013.  The bulk, $216 million, is to be spent on drilling 150 to 170 wells on the… Continue Reading

Carl Icahn, Chairman of Icahn Enterprises, is worth an estimated $20 billion and has made his fortune by being a shareholder activist (what they used to call a corporate raider).  He recently announced a large stake in Talisman Energy which has been an underperformer for years.  He now has two board members and has expedited… Continue Reading

On Monday, the Mexican senate approved a draft energy bill which would allow, for the first time in 75 years, private foreign investment into the oil and gas sector in their country.  Mexico is the number 10 global oil producer and has been controlled by the state-owned oil company, Petroleos Mexicanos (Pemex).  That state-run entity has seen crude… Continue Reading

Platinum Group Metals (PTM:TSX) is set to resume trading this morning after announcing yesterday that it would be completing a $175 million bought deal financing led by BMO Capital and GMP Securities.  The stock has performed well this year, up over 50% YTD thanks to successful development of their Western Bushveld Joint Venture where they… Continue Reading