VANCOUVER – Goldcorp Inc. (TSX:G) is making a $2.6-billion takeover play for Montreal-based Osisko Mining Corp. (TSX:OSK), which has an operating mine in northern Quebec and other projects in Ontario. Vancouver-based Goldcorp, which rivals Barrick Gold (TSX:ABX) in size, is offering a combination of stock and cash that values Osisko at C$5.95 per share —… Continue Reading
One year ago the S&P 500 kicked off 2013 with a bang, a large gap higher and a nearly 3% rally: US equities went on to post huge gains in 2013 while gold, and gold miners, fell by the wayside. Oddly enough, GDX’s end of 2013 and beginning of 2014 are eerily reminiscent to the… Continue Reading
We have selected 3 large cap Canadian stocks as our favorite picks for 2014. While the three had very dissimilar performances in 2013 (CSIQ +800%, CCJ +7%, ABX -49%), We believe all three are poised to post 50%+ gains in 2014: Click to enlarge Barrick Gold (ABX) – Weekly Cameco Corp. (CCJ) – Daily CCJ –… 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
“You want me to be a wilting flower? I mean, wilting flowers don’t build companies.” “If nobody would try, of course nobody would make it,” Mr. Munk said. “I must have given 25 lectures at business schools and my theme number one is: dream big, dream big. Put all your efforts into realizing your dreams.… Continue Reading
According to a private source close to China’s largest gold producer, China National Gold Group, that group is looking at investing in Robert Friedland’s Ivanhoe Mines (IVN:TSX). The source claims the state-owned China National Gold is interested in acquiring a stake in Ivanhoe’s Platreef project. The Platreef project is a thick, high-grade Flatreef platinum-palladium-gold-nickel-copper-rhodium deposit in South… 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
Barrick Gold (ABX), the lowest cost senior gold producer, is currently trading at levels which are simply too cheap to pass up. From an investment risk-to-reward standpoint Barrick has rarely been so attractive – Barrick’s enterprise value is back to 2009 levels when the gold price was more than $300 lower: Click to enlarge ABX… 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
Source: Karen Roche of The Gold Report (9/18/13) Many mining companies find themselves in a high-grading dilemma, according to Brent Cook, publisher of Exploration Insights. As companies deplete higher grade reserves, they have to acquire new deposits. But unless you are a geologist, don’t look to NI 43-101s to always give you reliable information about the quality of a… 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
US hedge fund, Two Fish Management, is making a renewed call for the breakup of Barrick Gold (ABX:TSX). The hedge fund, led by Mike Morris said “the market is essentially assigning a massive conglomerate discount to the company.” Morris cannot see any compelling reason to own a worldwide conglomerate of gold mines. Two Fish wrote… Continue Reading
Midway Gold (MDW:TSX) released assays from their joint venture Spring Valley project in Nevada with operating partner Barrick Gold (ABX:TSX). Barrick earned a 60% interest in the project in April and has exercised its option to earn in an additional 10% by spending $8 million. Barrick funds 100% of the exploration and development through to… Continue Reading
The garage sale is well underway over at Barrick (ABX:TSX). The company has agreed to sell its Yilgarn South Assets in Australia to Gold Fields (GFI:US) for a $300 million. The Yilgarn assets are comprised of three mines; the Granny Smith, Lawlers and Darlot mines which produced an aggregate of 452,000 ounces of gold at… Continue Reading
Market darling and favorite among gurus Brent Cook and Rick Rule, Lydian International (LYD:TSX) is taking it on the chin today (down 37% at the time of writing) after announcing that political risk is real. Looks like the Armenian authorities want more information regarding the catchment basin to Lake Seven (Armenia’s largest fresh water resource).… Continue Reading
