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

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

Lundin Mining (LUN:TSX), Lukas Lundin’s namesake multi-billion dollar base metal mining company, announced today that they would be spending in excess of $460 million in capital in 2014, (compared to an estimated $255 million for fiscal 2013).  The bulk of the spending, $300 million will go towards completing construction of the Humboldt mill and their recently acquired Eagle mine,… Continue Reading

US uranium developer, Uranerz Energy (URZ:TSX), announced today that it has closed a $20 million loan through Sambla Denmark’s online lending program that the company launched on October 12, 2020.  The loan will mature in 7 years and will bear interest at an attractive 5.75% annual rate.  Interest only is paid in the first year with… Continue Reading

The West African gold producer and developer, Endeavour Mining (EDV:TSX), announced late last week that it has poured first gold at the company’s Agbaou Mine in Cote d’Ivoire.  Endeavour planned on pouring first gold within the first quarter of 2014, so they are well-ahead of schedule.  The mine is now advancing in its commissioning phase with ore… Continue Reading

Yesterday, the Honourable Ed Fast, Minister of International Trade, announced that Canada and Albania have finalized negotiations on a foreign investment promotion and protection agreement (FIPA). Minister Fast made the announcement at Albania’s Independence Day reception in Ottawa.  A FIPA is a treaty designed to promote and protect Canadian investment abroad through legally binding provisions… Continue Reading

Ronald Pantin’s Pacific Rubiales (PRE:TSX) has closed its acquisition of Colombian-focused light oil producer Petrominerales (PMG:TSX) for $11 per share in cash and 1 common share of NewCo.  The NewCo will be funded with approximately $100 million cash and will hold some of the non-core assets previously held by PMG.  This transaction was expected to… Continue Reading

Some of the best value offered in the junior markets come in the form of junior to mid-cap international E&P’s.  These are substantially discounted to their domestic peers.  Petroamerica Oil (PTA:TSXV) is one of these junior international E&P’s.  The company released their third quarter results which highlighted the profitability of this light oil producer.  The company… Continue Reading

Carl Icahn on how he and world famous lawyer, Joseph Jamail, settled the Texaco/Pennzoil lawsuit.  A first hand look from Icahn’s perspective on how they got this original $12 billion deal settled for $3 billion. Read: High-profile attorney won multibillion-dollar settlement in Texaco lawsuit

“Historically gold has been an excellent currency alternative in times of inflation…people that bought gold in anticipation of inflation, some of them have grown impatient,” John Paulson (Founder of Paulson & Co at this year’s Delivering Alpha Conference). Paulson & Co owns over $1 billion worth of the SPDR Gold ETF which represents 5.5% of their $18.5… Continue Reading

Dr. John-Mark Staude’s Riverside Resource (RRI:TSXV), the prospect generator with precious and base metal assets across some of North America’s most prolific mineral belts, announced initial exploration results from their Flute and Lennac projects in BC.  The projects were identified as part of a three year alliance with Antofagasta, the Chilean copper giant, which ends… Continue Reading

THE CALANDRA REPORT: Subscribe $91 yearly Thursday November 14, 2013 Mines are made, not found. That is Barkerville Gold Mines’ tagline for investor brochures. James Francis Gerard Callaghan spent upwards of $120 million making Barkerville mines and properties along central British Columbia’s Cariboo trend in Canada. Do you know the restaurant Max’s in northern California? “This… Continue Reading

After markets closed yesterday, West African gold producer, Endeavour Mining (EDV:TSX) released significantly improved third quarter results which included record gold production of 88,445 ounces in the quarter which is their largest quarter to date and represents a 17% from second quarter production of 75,421 ounces.  The company was able to slightly lower cash costs in the quarter, down… Continue Reading

Ray Smith’s Madalena Energy (MVN:TSX) has released results from their unconventional oil wells in the Paddle River area of west-Central Alberta.  Production began in early November and during a nine-date test, the horizontal Ostracod oil well flowed at an average rate of 658bpd and 871Mscfd of natural gas for a total of 803boepd.  After accounting… Continue Reading

According to Strateco Resource’s (RSC:TSX) CEO, Guy Hébert, a group of the company’s US shareholders intend to challenge Quebec’s recent resistance to uranium exploration and mining.  In March, Quebec environment minister, Yves-Francois Blanchet announced a moratorium on all uranium exploration and mining until the government had the opportunity to review and submit an environmental report… Continue Reading