The Lundin Group’s Africa Oil (AOI:TSXV) announced this morning that it has discovered oil on its Block 13T in Kenya, which indicate a potential pay zone of 60-100m.  This further derisks and represents the fourth consecutive significant oil find in the East African Rift Basin.  The company holds a 50% working interest with operator Tullow… Continue Reading

The market has, so far, shrugged off more impressive drill results from Alpha Minerals (AMW:TSXV) and Fission Uranium (FCU:TSXV) this morning (FCU up $0.01).  Is there such a thing as ‘discovery fatigue’?  The company’s released assays from two holes from the Western and Eastern regions of the R390E zone at their PLS deposit. The highlights include… Continue Reading

This morning, the Peruvian silver developer, Bear Creek Mining (BCM:TSXV), announced that it has received its Environmental and Social Impact Assessment (ESIA) for the company’s Corani silver-lead-zinc project.  The company will now complete detailed engineering and submit construction permits for the project.  This approved ESIA comes less than one month after the company submitted responses… Continue Reading

The World Gold Council has found a new leader; New Gold (NGD:TSX) Chairman, Randal Oliphant.  Mr. Oliphant succeeds Ian Telfer, the Chairman of Goldcorp who has been the Chairman of the World Gold Council since being elected in September 2010.  Randall Oliphant sits on the board of Franco-Nevada and was, previously, the President and CEO of Barrick… Continue Reading

This morning graphite developer, Mason Graphite (LLG:TSXV) announced some surprising results which are not likely to be picked up by the markets.  The company received results from the preliminary purification of the graphitic carbon concentrates from the company’s Lac Gueret project located in Quebec.  Using conventional hydrometallurgical processes, in lock cycle tests, the company received… Continue Reading

This morning, Patterson Lake South Joint-Venture partners Alpha Minerals (AMW:TSXV) and Fission Uranium (FCU:TSXV) announced they had potentially found a fifth high-grade uranium zone as part of their 2013 drill campaign.  The most recent hole, PLS13-098, intersected 76m of total composite mineralization within a total 107.5m section (to vertical depth of 317m).  This adds to… Continue Reading

Ivanhoe Mines (IVN:TSX) intends to raise up to $108 million for the development of its Kamoa copper discovery and Kipushi copper-zinc project, both located in the Democratic Republic of Congo’s Katanga province.  The raise is comprised of 50 million Class A common shares at a price of $2.00 per share.  Billionaire founder and Chairman, Robert… Continue Reading

Burkina Faso gold developer, True Gold Mining (TGM:TSXV) received its environmental permit for its Goulagou I, Goulagou II and Rambo deposits which make up the company’s Karma gold project.  The next and final step to bring Karma into production is the receipt of the exploitation permits which the company expects getting in 2 months.  In… Continue Reading

America’s Petrogas (BOE:TSX) announced that it is under ‘strategic review’ (aka it has put up the ‘for sale’ sign).  Shares closed up $0.12 per share (12.5%) to $1.08 on 2.9 million shares bringing the company’s value to $200 million which, after a premium, could fetch $250-$350 million for the whole company. Depending on how this… Continue Reading

NGEx Resources (NGQ:TSX) released an updated resource estimate for its Los Helados copper-gold porphyry project.  The project is a large, low-grade, bulk tonnage copper-gold porphyry system located on a contiguous land package that the company holds in Chile’s Region III.  The company completed an additional 32 holes and over 32,200m which was completed earlier this… Continue Reading

A favorite gold takeover candidate, Sulliden Gold (SUE:TSX) announced a $40 million bought deal financing priced close to market at $1.02 per share (versus last close of $1.10).  The underwriters include National Bank and Scotia Capital.  This should be viewed positively, although the market may sell down closer to the pricing of the offering. The… Continue Reading

Another good sign for the resource equity markets; Paul Matysek’s Goldrock Mines (GRM:TSXV) quietly raised $9.24 million by way of strategic investment by Austral Gold (AGD:ASX) consisting of units at $0.80 per share (with an $0.80 warrant).  This represents a 51% premium to yesterday’s closing price.  After closing, Austral will own approximately 15% of Goldrock.  Austral’s… Continue Reading

Ginguro Exploration (GEG:TSXV) has a new insider. Robert McEwen, the self-proclaimed ‘Chief Owner’ of McEwen Mining (he owns 25% of the company) and co-founder of Goldcorp has invested $1 million into GEG via $0.10 unit ($0.15 ½ warrant) private placement through his Evanachan Limited. This brings his ownership up to 18.5% in the junior Canadian… Continue Reading

Newmont Mining (NEM:NYSE) announced this morning that it has signed a letter of intent to sell its Midas operations in Nevada to private equity firm, Waterton Global.  Midas has been a staple of Newmont’s Nevada operations as it is a high grade gold-silver and has been in production since 1999.  Many analysts already anticipated depletion and shut down of… Continue Reading

In July of this year, a favorite of Rick Rule and Brent Cook, Lydian International (LYD:TSX), took it on the chin following a resolution passed by the Armenian government that modified the basin to the Lake Sevan.  This led to Lydian essentially having to bring their heap leach and processing site plan back to the… Continue Reading