West African gold developer, Asanko Gold (AKG:TSX) (previously Keegan Resources) has announced the final piece of funding needed to build their $290 million Esaase gold mine in Ghana.  AKG has signed a definitive agreement with Red Kite Mine Finance for a $150 million project debt facility comprised of $130 million project facility (LIBOR + 6)… Continue Reading

With gold set for its first annual decline since the year 2000, Goldman Sachs, the outspoken pessimist of the gold markets, put out a report summarizing their expectations for third quarter earnings.  The focus of the piece was Europe, Middle East and Africa (EMEA) gold miners and was titled “3Q earnings previews: Lower gold price… Continue Reading

Central Asian gold producer, Centerra Gold (CG:TSX) has encountered a colossal further breakdown in government relations by announcing that the MOU the company signed with the Kyrgyz Government in early September may have been rejected by Parliament.  The company was made aware via news reports, that the Kyrgyz Parliament has passed a decree to reject… Continue Reading

Colombian-focused oil and gas producer Canacol Energy (CNE:TSX) released the results from their Labrador 5 well located on the LLA23 block.  The well was spud on September 10 and reached a total depth of 10,972ft and hit 55 feet of net oil pay; 13ft in the C7 and 42ft in the Middle and Lower Gacheta… Continue Reading

Sabina Gold and Silver (SBB:TSX) released assay results from the company’s Umwelt deposit which is part of the Back River project located in Nunavut, Canada.  Umwelt is the largest of the Back River mineral resources and is set to be the first open pit and the first underground deposit mined, according to the company’s October… Continue Reading

Bob Quartermain’s battered Pretium Resources (PVG:TSX) has announced the initial processing results from the 10,000-tonne bulk sample program from the Valley of the Kings.  The company received these first results from cross-cut 426585E which produced 281 total gold ounces in 2,167 dry milled tonnes of material (which would imply a grade of approximately 4g/t gold). … Continue Reading

An interesting development in the Canadian uranium sector from Reuters this morning; as part of the Canada-EU free trade agreement, Canada has agreed to ease foreign ownership restrictions on Canadian uranium mines.  Currently foreign mining companies cannot own more than 49% of producing Canadian uranium mines, but that is about to change claims Reuters.  Note… Continue Reading

US Oil Sands (USO:TSXV) has closed its previously announced, oversubscribed $81 million financing and has added a changed lineup of all-star energy entrepreneurs to its board of directors.  USO raised the money from three main strategic investors, Blue Pacific Investments, Anchorage Capital Group and Spitfire Ventures.  Blue Pacific nominated Serafino Iacono (highly successful Colombian resource entrepreneur… Continue Reading

Andrew Ross Sorkin’s Dealbook (The New York Times) is out with a new article on the latest betting scheme being proposed by Wall Street; a market to buy and sell real financial interests in entertainment stars.  Fantex Holdings announced today that it will open a marketplace in the US where investors can trade an interest in the… Continue Reading

A light news day.  A good read with some interesting facts on private equity’s growing importance in the mining industry from the Financial Post. In 2012, private equity was involved in eight mining deals worth $8.5 billion and that is expected to grow to $10-$15 billion over 2013.  Contrastingly, miners in Canada are expected to… Continue Reading

Lukas Lundin’s Africa Oil (AOI:TSXV) announced a $450 million brokered private placement.  The company is issuing 56.5 million shares at $8.25 per share and will be placed on a best efforts basis through Citigroup, Dundee and Pareto Securities.  The company claims to have good support for this financing with its existing shareholders as well as… Continue Reading

This morning, Robert Friedland’s Ivanhoe Mines (IVN:TSX) announced a monster hole at their Flatreef platinum project in South Africa.  In hole TMT006, IVN intersected 90.64m of 4.51g/t 4PGE (platinum, palladium, rhodium and gold) 0.37% nickel and 0.20% copper.  Within the 90.64m interval included 40.79m of 6.88g/t 4PGE. “This is an extraordinary drill hole,” said Robert… Continue Reading

NexGen Energy (NXE:TSXV) has completed their first phase of drilling on their Rook I project and announced a summary of their findings.  Rook I is 2.1km northeast of Fission/Alpha’s Patterson Lake South Discovery.  The program was designed to narrow down a large prospective target area, to determine if mineralization existed their and to better understand the geology… Continue Reading

Resource consulting firm, Wood Mackenzie put out a report Monday stating that by 2020, coal will surpass oil as the key fuel for the global economy.  Global coal consumption is expected to rise by 25% on the backs of China and India as they fill demand for cheaper energy sources to meet their fuel needs.  By… Continue Reading

Colombian gold explorer CB Gold (CBJ:TSXV) announced its response to a news article written in the Colombian newspaper, La Republica, which stated that “days from the new delimitation of Paramo ecosystem, uncertainty is increasing regarding the impact that the decision will have on the mining companies located in the Santander area.  La Republica has knowledge of a… Continue Reading