The Economist is out with a first class post on Barrick Gold founder Peter Munk. Munk’s tale How a former refugee from the Nazis made and lost several fortunes Apr 19th 2014 | From the print edition YOU can’t be right all the time. In a 1995 profile of Peter Munk, the founder of Barrick Gold,… Continue Reading

SPE data by YCharts The recently consolidated Spartan Energy (formerly Renegade Petroleum and Alexander Energy) has provided their first post-merger quarterly production and drilling update.  The company has been garnering a lot of attention from institutions and analysts abroad due to the underappreciated assets that have been removed from Renegade and put into the capable… Continue Reading

This morning, the long awaited financing piece for Torex’s (TXG:TSX) Morelos project has been found. The company announced it has signed a commitement letter with six banks, including Bank of Montreal, BNP Paribas, SocGen, Commonwealth Bank of Australia, ING and Bank of Nova Scotia for a US$375 million, 8.25 year project debt facility.  This package fully-funds Torex to complete their 21… Continue Reading

Ivanhoe Mines’ Kipushi project in the D.R. Congo was one of the world’s richest copper, zinc, germanium and precious metals mines from 1924 until political instability in the Congo forced the mine’s closure in 1993. Kipushi’s current 68% owner, Robert Friedland’s Ivanhoe Mines, believes the mine was not fully exhausted despite 68 years of operations.… Continue Reading

Long suffering investors in Rob McLeod’s Revolution Resources will get another kick at the can, and we think it’s a pretty darn good one. The company announced today that they are acquiring the high grade, low cost Red Mountain gold deposit near Stewart, BC, Mr. McLeod’s home town. Revolution also intends to raise $5.03 million… Continue Reading

AKG data by YCharts As the company promised, Asanko Gold (AKG:TSX) has finalized and amended their $150 million project debt facility with Red Kite which is inline with the previous terms.   Final definitive agreements are expected by the end of Q2.  When Asanko merged with PMI Gold late last year and the combined entity revised their plan… Continue Reading

A recent tour of the Globe-Miami copper mining district between Phoenix and Tucson, Arizona provided four natural resource writers with an appreciation of the massive scale of mining operations in the region. The Globe-Miami district spans roughly 30km from west to east and is almost entirely composed of open pits, heaps, tailings, haul roads, processing plants and smelters,… Continue Reading

Lukas Lundin’s Lucara Diamond (LUC:TSX) announced its first exceptional stone tender of 2014 after the market closed yesterday and it shattered expectations.  The first exceptional stone tender was comprised of 20 diamonds totalling 1,191 carats which were sold for $50.5 million ($42,347/carat).  Last year’s average per carat value of their exceptional stone tenders was roughly… Continue Reading

The Lundin Group’s only mineral exploration vehicle, NGEx Resources (NGQ:TSX) announced fantastic results from their Filo del Sol project in San Juan, Argentina.  They released ten holes today, which continued to help expand the high-grade manto zone.  Filo del Sol is the last of NGEx’s three projects without a resource estimate.  The company expects to put out its… Continue Reading

THE CALANDRA REPORT: Subscribe [PCY | KOL | ANK | DSR | GSV] Coal, thermal coal for our purposes, is fired up. Does not look it, when you scan financial media on this arcane commodity. But it is. Or will be. We’ve been talking thermal coal since TCR’s visit to northern Mongolia — and briefly,… Continue Reading

PXT data by YCharts According to a Bloomberg article today, Parex Resources (PXT:TSX) is planning on doubling its current production of 17,500bopd.  The company, led by CEO Wayne Foo, has aspirations of growing to 50,000bopd, according to the article. “To be relevant in the market, you really have to be in the range of 25,000… Continue Reading

Depending on how you look at it, the copper business will either be a great place – or a scary place to be in the coming years. This from octogenarian Dave Lowell, arguably the most successful mineral explorationist in history, with the discovery of eighteen ore bodies credited to him, including Escondida, the world’s largest… Continue Reading

Asanko Gold (AKG:TSX) continues to advance their West African gold project towards first gold production in Q1/2016 by commencing the construction of its early works program.  The Board of Directors has approved a $16 million budget with a full investment decision on the Asanko Gold project anticipated by Q3/2014. The early works program includes: advancing detailed engineering, earth… Continue Reading

Founder and chairman of Continental Gold (CNL:TSX) Bob Allen will step back from the wheel of the company that he helped turned into Colombia’s most valuable junior gold developer, the company announced Monday. A pioneer in Colombian mining, Allen started Continental in 2007 as a privately held, Bermuda-based outfit, landing on the TSX in 2010… Continue Reading

THE CALANDRA REPORT: Subscribe To plagiarize a former USA president, well, that depends on what the meaning of is be. PLAN BE is now running. TCR Family: I will be spending all of my networking | writing | researching time here at The Calandra Report. This includes site and company visits for natural resources and for… Continue Reading