The high-grade veins at Continental Gold’s (CNL:TSX) Buritica project in Colombia continue to grow as drilling expands the areas of known mineralization.  This morning, Ari Sussman (CEO) announced the latest batch of 17 drill holes from his project.  Four of the holes were successful in intersected veins sets that were 200m west of the current… Continue Reading

Robert Friedland’s Ivanhoe Mines (IVN:TSX) has completed  dewatering activities to the main working level of the historic and high-grade Kipushi copper-zinc-germanium-lead and precious-metals mine (68% IVN, 32% state-mining company) in the Democratic Republic of Congo (DRC).  The mine’s underground workings were extensively flooded during the previous 18 years when the mine was on care-and-maintenance as a former… Continue Reading

Mark O’Dea’s West African gold development play, True Gold Mining (TGM:TSX) released a robust feasibility study for the Karma gold development project in Burkina Faso.  At $1,250 per ounce gold, the project provides an after-tax NPV(5%) of $180 million and a 43.1% IRR (TGM’s netted amount).  This provides for a payback of the initial $131.5… 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

NGEx Resources (NGQ:TSX), the only mineral exploration vehicle in the multi-billion dollar Lundin Group, has begun the 2013-2014 exploration program at their Josemaria and Filo del Sol projects in San Juan, Argentina.  In 2013, NGEx dramatically increased the resource base at their Josemaria and Los Helados projects.  Josemaria now hosts over 6 billion pounds of copper and… Continue Reading

Parex Resources (PXT:TSX) and Petroamerica Oil (PTA:TSXV) have provided an update on the exploration and development work going on in some of Colombia’s most prolific light oil fields.  Parex is excited about the developments on the El Eden block (60% operated working interest, Petroamerica 40% working interest) as they have begun long-term production from the test facility… 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

Apparently, Colossus Minerals (CSI:TSX) will no longer be “Building Brazil’s Next Gold Mine” as they state on the front of their corporate presentation.  Late last week, CSI announced that they would be revising their plans for the Serra Pelada gold-platinum-palladium development project in Brazil following financial liquidity concerns and meetings with key stakeholders.  On Friday, the company… Continue Reading

A few days after announcing the signing of a definitive agreement to buy the Midas mine and mill complex in Nevada from Newmont, Klondex Mines (KDX:TSX) has an idea to finance the acquisition and development of that project with a gold, equity and note financing package.  KDX agreed to pay Newmont a total of $83… Continue Reading