Investors have sent shares of Mart Resources (MMT.T) tumbling to a 2 year low of 85 cents this week. Two reasons for the sell-off are the delays on the Umugini pipeline and the recent decline in oil prices. Mart has been operating the Umusadege field in the in Delta State, Nigeria with partners Midwestern Oil and Gas Plc… Continue Reading
IDM Mining (IDM.T) is one of just a few mining companies actively moving forward in a tough market environment. After raising close to $2.5 million in September the company has been busy drilling at the Red Mountain project 15km east of Stewart B.C. Red Mountain is located in BC’s Golden Triangle where the likes of Pretium Resources and Seabridge Gold are… Continue Reading
The ultimate goal of any gold producer should be to make money for shareholders. After looking at a fair number of recent quarterly results, it appears that very few gold companies are accomplishing this currently. One company that is delivering profits in its first year of production is Klondex Gold (KDX.T). Klondex operates the Midas mine and Fire… Continue Reading
In a tough market for mining equities royalty companies continue to be solid investments, and in fact, outperform producers. Silver Wheaton (SLW.T) the world’s largest silver streaming company, is an excellent example of this. The company reported net earnings of $4.5 million (1 cent per share) for the third quarter this morning. Silver Wheaton is well… Continue Reading
In the early phases of building an oil and gas company, you want to get a carried interest into as many high impact wells as possible that are ideally being drilled on somebody else’s dime. This reduces risk. Pan Orient Energy (POE.V) continues to reduce risk and keep a portion of the upside potential by farming out… Continue Reading
New Gold (NGD.T) has made an offer to acquire Bayfield Ventures (BYV.V) in an all-stock deal worth $16.6 million. The deal has been speculated since New Gold bought Rainy River in May 2013. Bayfield holds a strategic land package surrounded by the New Gold (previously Rainy River) claim block. In the past, New Gold management has shown that… Continue Reading
Eastern Platinum (ELR.to) is selling its PGM assets in South Africa to Hebei Zhongbo Platinum Co. Ltd. for US $225 million in cash. Here is a link to the news release. The market was not expecting substantial value for the assets, as the company was worth roughly $89 million this morning, with $81 million in… Continue Reading
Romarco Minerals (R.T) received the mine operating permit from the South Carolina Department of Health and Environmental Control (SCDHEC). This is the final permit required for the 4.8 million ounce Haile gold project in South Carolina to commence construction. Romarco will need to deposit $30 million for a reclamation bond with an additional $30 million required over the life of… Continue Reading
Nautilus Minerals (NUS.T) has chartered a vessel for the Solwara 1 seafloor mining project in Papua New Guinea. This is a significant milestone for the company and will trigger the release of $113 million in escrow from joint venture partner Eda Kopa (Papua New Guinea`s state nominee). The ship building will be completed by Fujian… Continue Reading
Tahoe Resources (THO.T), the world’s highest grade silver producer, announced an updated mineral reserve and feasibility study for the Escobal mine in Guatemala this morning. Tahoe is one of a just a few primary silver mines in the world generating a profit at current silver prices. The mine is especially profitable compared to its peers as it benefits from… Continue Reading
Greenville Strategic Royalty (GRC.V) reported it’s first profitable quarter this morning, earning net income of $529,000. Management has successfully added 22 royalties since July 2013 averaging ~2 per month and they are discussing paying a dividend to shareholders. Grenville provides royalty based financings to small businesses usually for between $1-$2 million. In exchange they receive a royalty… Continue Reading
Detour Gold (DGC.TSX) reported a small loss of $800,000 after the bell today. Gold production for the quarter was 115,334 ounces meeting management expectations. Cash costs came in at $941 per ounce sold which is within the company’s guidance of between $900 and $975 for the year. The asset is one of the best in the gold space… Continue Reading
Family owned and Chilean based copper company Antofagasta Pls. has initiated a takeover bid for joint venture partner Duluth Metals (DM.T) for 45 cents cash per share. The offer represents a 284% premium over the 20 day volume weighted average price (VWAP). Duluth was the majority owner of the massive Twin Metals project in Minnesota. The deal looks set… Continue Reading
The second largest IPO in the Canadian energy space this year was completed this week by Seven Generations Energy (TSX: VII). This IPO proves investors still have a strong appetite for energy stocks, even with energy prices sliding recently. $51.75 million shares were issued at $18 per share, raising a total of $932 million for… Continue Reading
Cameco (CCO.T), the company investors turn to for guidance on the current state of the uranium industry, released quarterly results this morning. Cameco believes that uranium will remain in surplus for the short term with continuing strong long term fundamentals. At press time the market is not impressed. Cameco shares are off ~3%, trading last at $18.95 per share. Cameco… Continue Reading
