The team at Semafo (SMF.T) has been busy the last couple days issuing two separate news releases. An acquisition offer has been made to Australian listed Orbis Gold (OBS:ASX) for between 62-65 cents (Australian) per share. The second news release was an operational update on Q3 results and production guidance. The market was impressed with Semafo shares trading up… Continue Reading
A fantastic article on silver production was recently published by SRSrocco Report comparing financial results and production levels from the 12 primary silver producers to previous results. I won’t spoil it for you but the analysis reveals a couple of alarming trends for silver producers. The Primary Silver Mining Industry continues to suffer from manipulated low metal prices. However,… Continue Reading
Mart Resources (MMT.to) released a corporate update this morning with details on the Umugini pipeline as well as a drilling update. Mart is a junior oil producer in Nigeria with current production of 7,874 bopd (August). Management says the completion of the Umugini pipeline could potentially double current production. Mart has previously disappointed investors by missing several deadlines.… Continue Reading
Klondex Mines (KDX.to) is a new high grade gold producer in Nevada. Management has been busy in 2014 acquiring a mill, commencing production, and drilling to update current resource estimates. The goal at Klondex is to be cash flow positive by the end of 2014. Klondex has produced ~40,000 ounces year to date from the Midas Mine and bulk… Continue Reading
Sabina Gold (SBB.to) is a a development-stage gold company to watch, largely because of its high grade (~6 g/t) 7.3 million ounce Back River project in Nunavut. The company is working on a Feasibility Study to be released mid 2015 that it hopes will show improved economics. Currently they are forecasting having $30 million in the bank at year… Continue Reading
ATAC Resources (ATC.v) has released final summer 2014 drilling results from the Conrad zone at its Rackla project. The Rackla project is a district scale gold project of ~1700 square kilometres in the Yukon situated between the regional-scale Dawson thrust and Kathleen Lakes fault. Work has been focused the last couple years on the eastern end… Continue Reading
After being halted for the end of the trading day today, Lundin Mining (LUN:TSX) announced they are purchasing Freeport-McMoran’s 80% share of the Candelearia mining complex in Chile for US $1.8 billion. The remaining 20% ownership will stay with Sumitomo Corp. Franco-Nevada has reached a tentative deal with Lundin on a $698 million precious metals streaming financing package as part of… Continue Reading
One of the largest and richest undeveloped gold assets in the world is Continental Gold’s Buriticá project in Colombia, with over 7 million ounces at average grades of over 9 grams gold per ton. The company published a Buriticá development update this morning (here’s a link). Of note, the cross cut at Veta Sur is validating the… Continue Reading
Bankers Petroleum (TSX:BNK) is one of the first oil companies to provide operational third quarter results to the market. Oil production continues to grow with 6% production growth since the second quarter. Production in the third quarter averaged 21,865 bopd which is a quarterly record for the company. All production comes from the Patos-Marinza oil field which is the… Continue Reading
Lake Shore Gold (LSG.T) has been quite the turnaround story for investors in the last year and the share price has responded. Management is delivering on production guidance and is generating free cash flow finance solution for shareholders. The stock is up close to 300% in 2014. I have been listening to audio presentations from… Continue Reading
A $35 million investment round in Fortune Minerals (FT) by Lascaux Resource Capital will see the junior become a producer, and is testament to the quality of management at the London, Ontario based Fortune. The investment allows Fortune to purchase 100% of the Revenue Silver Mine (“RSM”) in south west Colorado. This is a transformational time for management… Continue Reading
The past month has seen relentless selling on the TSX Venture exchange home to many early stage resource companies. The main reason has been a drop in commodity prices across the board especially oil and gold resulting from a strengthening US dollar. The US markets continue to trade near record highs as the economy recovers… Continue Reading
Investors are abandoning two Canadian mineral exploration darlings of 2010 after a summer drill program turned up less than outstanding results. These investors may be forgetting that investing in mining is all about the people and exploration often requires repeated kicks at the can. Prosper Gold CEO Peter Bernier and geologist Dirk Tempelman-Kluit built BC gold explorer Richfield Ventures… Continue Reading
Balmoral Resources (BAR.T) is showing that mining exploration stocks can still deliver strong share price returns for shareholders even in the current market environment. A combination of exciting drill results and rising nickel prices has Balmoral stock up from 40 cents to $1.54 (a 4 bagger!) year to date. The company now has an approximately… Continue Reading
An incredible group of geologists and mining investors have circled Kaminak Gold for its Coffee gold deposit in the Yukon which is heap leachable. Based on the backing of the people involved, it looks like it will be one of the world’s next major gold mines. CEO Eira Thomas is one of the most respected… Continue Reading
