I caught up with royalty specialist John Budreski recently for an update on Morien Resources, a small resource royalty play with two long-life assets in Nova Scotia. The shares had recently slumped below 20 cents from a 52-week high of 28 cents, and I took a position. Budreski, Morien’s president and CEO, didn’t seem too… Continue Reading

In a shocking move, the world’s largest producer of thermal coal, Glencore (GLEN.LON), announced yesterday that it will shut down its Australian coal operations for three weeks starting in mid-December. An estimated 5 million tonnes of output (roughly 6% of Glencore’s annual Australian coal output) will be cut from the markets as a result. Seaborne thermal-coal prices remain at… Continue Reading

The Sunday Times of London reported overnight that Mick Davis’ X2 Resources has made a bid for some of Anglo American’s Chilean copper mines, their Brazilian nickel assets, and some of their coal operations.  If successful, this would represent Davis’ first acquisition since he left as head of Xstrata after the merger with Glencore in 2013, and could… Continue Reading

Things never look that bad. Until they are. Like in India’s coal sector. Where recently, many analysts have been suggesting that demand is going remain subdued–as with the global sector in general. But for anyone watching the numbers the last few years, it’s been clear major problems are coming in coal supply here. And last… Continue Reading

While on a plane headed to NexGen’s Rook I property this week for a well attended inaugural analyst site visit (more to come on this), I read an article, titled “Renewables Aren’t Enough. Clean Coal is the Future” in Wired Magazine that was absolutely fascinating. The article discussed something I was familiar with on a very… Continue Reading

I’ve been obsessing over this Coal chart for the last few months watching this healthy consolidation take shape. I first pointed out this development in March, and although we were up a few percentage points since then, it wasn’t really until last week that we finally got going. The bigger the base, the stronger the breakout tends to… Continue Reading

Sentiment in the thermal coal market is nearly as poor as it gets right now. The mood has been further dampened this week by price cutting from Chinese coal producers. With sellers slashing prices in an attempt to clear out inventory. That’s led to an almost complete loss of appetite for imports into China. With… Continue Reading

According to a Bloomberg article last week, ‘Big Mick’ Davis, the former CEO of Xstrata Plc, is seeking to raise $3 billion for his private, X2 Resources, prior to him acquiring any assets.  Davis, the 55 year-old South African, has raised $1 billion from investors including private equity firm TPG and Asia’s largest metals trader, Noble Group. … Continue Reading

Teck Resources (TSX:TCK.B) CEO Don Lindsay made a brilliant comment on BNN Television earlier about long life mining assets. “Whether it’s copper, whether it’s oil, whether it’s zinc, it’s a cyclical business, and you know that you’re going to get all of your money back in 2 or 3 good years. What you don’t know… Continue Reading

An edited version of this story was first published in the Globe and Mail. The man who recently left his job as head of Sprott Resource Corp. says he has yet to sell a share in the company. Kevin Bambrough, who exited his role as the chief executive of Sprott Resource Corp., as well as… Continue Reading

Brian Dalton’s Altius Minerals (TSX:ALS) is building THE diversified Canadian minerals royalty company. Today the firm announced acquiring 51% of Sherritt International’s Canadian coal and potash royalties for $254 million, representing approximately 86% of Altius’s market cap at the time of the announcement. Dalton is betting the farm on long life coal and potash assets,… Continue Reading

Want to take advantage of the resource sector downturn? Find a billionaire backer and a management team from a top tier producer… Warwick Smith’s Western Pacific Resources (TSXV:WRP), a Vancouver-based junior miner with a $3.3 million market cap, has raised $10 million via a convertible debenture, and an additional $8.5 million via a base metals streaming agreement… Continue Reading

Anchor Andrew Bell sported an arm sling on his Commodities program on BNN television earlier, citing a cycling accident. The show must go on, however and three CEOs joined Bell this morning to tell their stories. Brian McLachlan, President and CEO of Yoho Resources (TSXV:YO), was the first guest on the program. Yoho are developing oil… Continue Reading

THE CALANDRA REPORT: Subscribe $91 yearly SAN DIEGO — Inovio Pharmaceuticals (INO in USA), a DNA vaccine developer I sidestepped for four years, is having success with a Middle Eastern virus. INO shares are raging today. Inovio’s J, Joseph Kim, via a persistent biz-dev executive, Bernie Hertel, has been on me, professionally, since 2009. Inovio… Continue Reading

Cordoba Minerals (TSXV:CDB) announced a significant but early stage copper-gold porphyry discovery in Colombia earlier, and it caught our attention enough to pick up a few shares at the open this morning (Do your own due diligence!). Read: Cordoba Minerals Announces the Discovery of a New High-Grade Copper and Gold Porphyry System Drilling 101.1 metres… Continue Reading