Petroamerica Oil shares are headed a lot higher following a successful and hard fought acquisition of Suroco Energy announced earlier. Petroamerica has lagged its Colombian oil peers considerably, constantly trading for less than 1.5x cash flow because of its relatively small size and reserve life, concentration risk of its main Las Maracas asset, and a… Continue Reading
– Geologist shares secrets of White Gold sale, readies Red Mountain project near his hometown of Stewart, BC for prime time – New PEA could yield cheap, high-margin gold ounces – $10 million firm combines exploration, social license, engineering expertise – Here McLeod and McPhie tell the IDM Mining story on video for first time… Continue Reading
Few gold developers in the world today have an opportunity like Roxgold Inc (ROG:TSXV). The company is developing the high-grade Yaramoko gold project in Burkina Faso that has an after-tax IRR of nearly 50% (in a sector where you are lucky to achieve double-digit returns). The economics are unique for three reasons. First, the grade, which sits… Continue Reading
Since an unprecedented staking rush in 2010 that had not been seen since the Klondike Gold Rush, the Yukon has fallen out of favor with many mining and exploration investors due to its short seasons and expensive work programs. One company that has continued in the land of the midnight sun is Kaminak Gold (KAM:TSX), which discovered the… Continue Reading
From 1924 until 1993, the Prince Leopold (Kipushi) Mine close to D.R. Congo mining capital, Lubumbashi, was the richest copper, zinc, and germanium mine in the world, producing 6.6 million tonnes of zinc, 4 million tonnes of copper, and 278 tonnes of germanium from 60 tonnes of material grading 11% zinc and 7% copper. Kipushi… Continue Reading
Gold Stays in the Headlights as US Equities Soften After Long Weekend US equities enjoyed a negative week, after the country came out of the July 4th long weekend with the Dow Jones Industrial trailing down for the record high last Friday to close a week later at 16,944. Gold has maintained is polish as… Continue Reading
A couple of years ago I did an interview with junior mining analyst Brent Cook, and I asked him to name a few under the radar geologists to follow. One of his suggestions was a man by the name of Rob McLeod, born in Stewart, BC, and now a resident of North Vancouver. “Rob McLeod… Continue Reading
After investing $25 million in the latest $1.50 financing, Ivanhoe Mines’ (IVN:TSX) founder and Executive Chairman Robert Friedland now controls 23.8% of the company or 167,133,422 shares (and another 19,166,667 warrants). Today, Ivanhoe announced that the Singapore-based billionaire, Friedland, 61, exercised his overallotment right as part of the financing which enabled him to acquire an additional 2.5 million units at a… Continue Reading
(Suroco shares are currently trading at $0.83 per share, indicating the market currently anticipates Petroamerica’s offer will win.) This morning, VETRA, the private Colombian oil company that is in a battle over Suroco Energy (SRN:TSXV) with Calgary-based Colombian light-oil producer Petroamerica Oil, raised their cash bid for the company to $0.85 per share, representing a small, 2.4%, increase… Continue Reading
The most western Canadian province of BC continues to attract capital from some the largest and most sophisticated metals and mining shops on the globe. This time it’s ITOCHU Corp., one of Japan’s leading trading houses and suppliers of metals, who announced this morning that it has agreed to fund $4.25 million worth of exploration on… Continue Reading
By Henry Bonner (hbonner@sprottglobal.com) Read on SprottGlobal.com -> Rick Rule, Chairman of Sprott US Holdings Ltd. said in early March that the market looked overheated and was due for a pullback. Gold and silver had just delivered double-digit gains in a few months. Sure enough, from mid-March until early June, the precious metals gave up… Continue Reading
Joe Mazumdar is the Director of Research and a Senior Mining Analyst at Canaccord Genuity Inc. here in Vancouver. He has a particularly interesting perspective on the mining sector, having spent the majority of his early years at large companies including: Mount Isa Mines (Australia), Rio Tinto (Argentina), Phelps Dodge (Phoenix, USA) and Newmont (Denver,… Continue Reading
From Peter Brown: June 30th is my last day at Canaccord Genuity which began 46 years ago on February 2, 1968 with the purchase of 50% of an insignificant firm for $23,000. The Firm’s first trade was the purchase of 1000 shares of Casino Silver (which now belongs to Teck) at $0.78. I still have… Continue Reading
The Athabasca Basin in Northern Saskatchewan, Canada is the most productive uranium producing region in the world, known for its extremely high grade deposits. The latest discovery story to emerge from the Basin is NexGen Energy, which discovered uranium mineralization at their Rook 1 property earlier this year. This morning, NexGen announced initial results from their summer… Continue Reading
Gold Bounces As US Equities Hit New Highs on Better Jobs Data Gold jumped to above $1,330 per ounce early in the week on softer than expected US economic data and the retraction of the ceasefire between the Ukrainian government and pro-Russian separatists, but the commodity softened to around $1,321 per ounce later in the… Continue Reading
