AOI data by YCharts Lukas Lundin’s oil exploration vehicle, Africa Oil (AOI:TSX), is planning to drill at least 20 exploration and appraisal wells in the South Lokichar basin which will include exploration wells targeting 4 new oil basins. This program is fully funded as the company raised over $450 million last year in the largest… Continue Reading
Simon Ridgeway’s Cordoba Minerals (CDB:TSXV) has begun its 2014 exploration efforts with the mobilization of a RAB (rotary air blasted) rig to begin drilling their Montiel prospect on the San Matias project in Cordoba, Colombia. The company recently closed a $15 million (expanded from $12 million) financing to consolidate the San Matias project as well… Continue Reading
After announcing a victorious proxy vote in late January which saw a dissident group of shareholders led by FrontFour Capital lose in their battle to take control of Renegade Petroleum (RPL:TSXV), the company has now decided to merge with Alexander Energy (ALX:TSXV). Renegade drew the attention of the activist shareholder after management announced plans to… Continue Reading
Orvana Minerals (ORV:TSX) has found a buyer for their Copperwood project in Highland Copper (HI:TSXV). Orvana has been considering divesting the asset for sometime now in order to focus on its two producing assets and to strengthen its balance sheet. Orvana announced this morning they have signed a definitive agreement with Highland Copper which will… Continue Reading
Late last night, Hudbay Minerals (HBM:TSX) announced it was making an unsolicited offer for the remaining shares of Augusta Resource Corp (AZC:TSX). Hudbay is offering 0.315 (~$2.96 per Augusta) of its shares for each share of Augusta representing a 62% premium to the 20-day VWAP and an 18% premium to Friday’s close. The offer values… Continue Reading
According to the Bloomberg article today, a creditor group led by PIMCO has agreed to a $200 million financing deal that would see founder Eike Batista lose control of his Latin American E&P company, Oleo & Gas Participacoes SA (OGX). This deal would end a 6 week discussion to finalize the debt-for-equity swap that would… Continue Reading
OCO data by YCharts I would imagine the phones at Oroco Resource Corp (OCO:TSXV) would be busy today following a positive ruling by the Federal Tribunal of Mexico. Shares are up 200% to $0.10 on over 10.5 million shares at the time of writing. The court granted Oroco its appeal of the decision of the lower Federal District… Continue Reading
CTT data by YCharts Citation Resources Inc. | CTT:TSXV | 39,019,287 Shares O/S (basic) | $2,731,000 Market Cap | $.02 – $.14 Year Range | $.07 Last Trade There are numerous mineral belts endowed with many millions of ounces of silver and gold throughout Mexico. However, none are more prolific than the Guerrero Gold Belt which is home to a significant amount… Continue Reading
This morning, Canada Carbon (CCB:TSXV) released further drill results from the winter exploration program being done at their Miller graphite project in Quebec. Since discovering the VN3 vein in December, the company has focused exploration work there. In hole DDH13-15, they intersected 1.8m of 48.6% Cg including a 0.5m intersection of 63.2% Cg. This hole… Continue Reading
Vista Gold is currently working on progressing the environmental permitting of their Mt Todd project in Northern Australia. The company burns roughly $1 million per month and was sitting on just over $4 million in cash as of September 30, 2013. It seems, the company has evaluated its options for raising funding to continue the development… Continue Reading
Jordan Trimble joined BNN Television’s Andrew Bell earlier. Trimble is CEO of Skyharbour Resources (SYH:TSXV), a micro-cap uranium explorer focused on Northern Saskatchewan’s Athabasca Basin region. Trimble discussed his company’s exploration plans for 2014, which includes an ongoing $6 million program at Skyharbour’s flagship Preston Lake project near Fission Uranium’s Patterson Lake South uranium discovery.… Continue Reading
Junior graphite explorer, Graphite One (GPH:TSXV) has been able to attract a legend in the resource business; Robert Cross, to their Advisory Board. Mr. Cross is the chairman of B2Gold (BTO:TSX) and founder of Bankers Petroleum (BNK:TSX) and BNK Petroleum (BKX:TSX). He was also chairman of Northern Orion Resources leading to its takeover by Yamana… Continue Reading
This morning, Continental Gold (CNL:TSX) released another batch of 13 drill holes as well as underground sampling from the Yaragua vein at the company’s Buritica gold project in Colombia. The company has resumed 2014 drilling and is aiming for an updated NI 43-101 resource estimate which should be released this quarter. The market is waiting… Continue Reading
Lundin Petroleum (LUP:TSX) released their fiscal 2013 numbers (although production was pre-released on January 21st) which saw them produce an average of 32,700 boe/d in the year and make $975.6 million operating cash flow on $1.2 billion of revenue. However, EBITDA fell from $1.14 billion in 2012 to $960.9-million this year. Q4 EBITDA fell below… Continue Reading
This morning, explorer Desert Star Resources (DSR:TSXV) announced Mark Selby would be joining the company’s advisory board. Mr. Selby is currently the Senior VP, Business Development at Royal Nickel (RNX:TSX) and is the owner of his own consulting firm, Selby & Co. Mr. Selby is also and has been since August, 2009, a director of… Continue Reading
