Albania’s largest foreign investor, Bankers Petroleum (BNK:TSX) is continuing to bet on its Albanian oilfields by announcing they intend to spend at least $313 million in capital next year up from the $247 million the company spent in 2013.  The bulk, $216 million, is to be spent on drilling 150 to 170 wells on the… Continue Reading

Carl Icahn, Chairman of Icahn Enterprises, is worth an estimated $20 billion and has made his fortune by being a shareholder activist (what they used to call a corporate raider).  He recently announced a large stake in Talisman Energy which has been an underperformer for years.  He now has two board members and has expedited… Continue Reading

IAMGOLD Corp. (IAG) suspended its dividend after the close today. This decision was many months in the making – anyone who looked through the company’s latest investor presentation would have quickly deduced that with gold waffling near $1250/ounce, IAG would be hard pressed to be able to continue paying a dividend due to its relatively… Continue Reading

Slowly but surely, consolidation of gold miners in West Africa is picking up again. While we are far from the days when chunks of land in Mauritania sold for more than US$7-billion, there have been two interesting deals announced in the past six weeks: B2Gold Corp.’s US$63-million offer for Volta Resources Inc., and Centamin PLC’s $39.3-million… Continue Reading

>>From the VC Market Trends Blog It is often said that history doesn’t repeat itself, but it does rhyme. Bitcoin, in just nine months, has done something absolutely tremendous in that respect. Even by just checking out sites like Bitcoin.co.uk, seeing how much of an impact Bitcoin has had and continues to do so for… Continue Reading

Parex Resources (PXT:TSX) and Petroamerica Oil (PTA:TSXV) have provided an update on the exploration and development work going on in some of Colombia’s most prolific light oil fields.  Parex is excited about the developments on the El Eden block (60% operated working interest, Petroamerica 40% working interest) as they have begun long-term production from the test facility… 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

On Monday, the Mexican senate approved a draft energy bill which would allow, for the first time in 75 years, private foreign investment into the oil and gas sector in their country.  Mexico is the number 10 global oil producer and has been controlled by the state-owned oil company, Petroleos Mexicanos (Pemex).  That state-run entity has seen crude… 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

Apparently, Colossus Minerals (CSI:TSX) will no longer be “Building Brazil’s Next Gold Mine” as they state on the front of their corporate presentation.  Late last week, CSI announced that they would be revising their plans for the Serra Pelada gold-platinum-palladium development project in Brazil following financial liquidity concerns and meetings with key stakeholders.  On Friday, the company… Continue Reading

Congratulations are in order to Ari Sussman and his team at Continental Gold Limited (TSX:CNL). They have been awarded the Mines and Money London 2013 Exploration Award for their Buriticá high grade gold project in Colombia, beating out the likes of Fission Uranium, Robust Resources and Sirius Resources for the honour. Mines and Money London is… Continue Reading

THE CALANDRA REPORT: Subscribe $91 yearly Topics: Coastal Contacts, Inovio, American Sands, Stockr, Mason Graphite, Tembo, GSV & Sunny LA LOS ANGELES — Just back from getting my batteries charged at LD Micro in Bel Air. About 240 companies — four or five gold | a dozen energy | and the rest Biomedical, Internet, retail,… Continue Reading

A few days after announcing the signing of a definitive agreement to buy the Midas mine and mill complex in Nevada from Newmont, Klondex Mines (KDX:TSX) has an idea to finance the acquisition and development of that project with a gold, equity and note financing package.  KDX agreed to pay Newmont a total of $83… Continue Reading

A new mineral exploration company to watch, Kaizen Discovery, will commence trading in Toronto tomorrow under the symbol KZD. Kaizen was born out of an amalgamation with HPX TechCo (50% owned by Robert Friedland) and Concordia Resource Corp. Kaizen will be 85% owned by HPX TechCo (Private) and 15% by Concordia shareholders. The company will… Continue Reading

An article from Mineweb’s Alex Williams this morning summarized the recent discussion Rick Rule (Chairman of Sprott US Holdings) and Robert Friedland had at this year’s Mines & Money Conference in London, UK.  Below are a few of the quotes from the article: “This is very much what a bottom feels like,” said Friedland. “Most of the CEOs of the major mining… Continue Reading