One of the very few Canadian based junior mining companies with any cash is Lowell Copper, which raised $11.4 million earlier this year, with a lead order coming from resource titan Lukas Lundin. Lundin and others backed the junior for the intellectual property of its founder, J. David Lowell, an octogenarian explorationist who pioneered the… 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
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
As the gold price continues to slump, two things in the gold market matter the most: grade and capex intensity. Dalradian Resources (DNA:TSX) is developing an extremely high-grade Curraghinalt gold mine in northern Ireland and today announced an update on the permitting process there. According to the release, the strategic planning division of the Department… 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
D. Grenville Thomas’s North Arrow Minerals Inc. (TSXV-NAR) has made Canada’s newest diamond discovery at the Pikoo project in central eastern Saskatchewan. North Arrow tested a 209.7 kg sample of drill core from the PK150 kimberlite, which has returned 745 diamonds larger than the 0.106 mm sieve size, including 23 diamonds larger than the 0.85 mm sieve size, according… Continue Reading
Doug Forster’s Newmarket Gold Inc. (TSXV:NGN) may be a breath of fresh air to Canada’s mining sector. The company has experienced executives touting optimism and looking for acquisitions in a gold mining market where few buyers exist. Then again, it could end up another failed TSX-venture shell, waiting on the shelf for the next dream… Continue Reading
THE CALANDRA REPORT: Subscribe $91 yearly October 22, 2013 Most everyone likes an under-fished story. Even regulators. So, this is Day 9. Barkerville Gold Mines’ return to trading brings a doubling of the stock price for those who bought the tarnished stock in America’s pink-sheet market (symbol BGMZF) whilst the Canada shares were halted. Those… Continue Reading
163,000 shares of buying was enough to send Newstrike Capital Inc. (TSXV:NES), a Vancouver-based, Mexico-focused gold exploration company run by Richard Whittle and backed by the Lundin Group, up 13 cents or 15.6% Monday. Last Thursday, Newstrike announced that an airborne geophysical survey flown over the company’s Aurea Norte property generated fifteen high priority exploration targets,… Continue Reading
The Lundin Group’s Lucara Diamond Corp. (TSX:LUC) reached a 52 week high of $1.25 Friday, with shares in the African diamond producer closing at $1.23 on approx. 700,000 shares. Lucara’s shares have more than doubled since the company entered production at its 100% owned Karowe diamond mine in Botswana in August, 2012 (Related: A New Age… Continue Reading
Bloomberg is out with a great article this morning on the junior mining sector (Hat tip to Jon Jones @ Haywood for forwarding). According to the article, mining acquisitions under $1 billion have slumped to an 8 year low. Additionally, there are 972 mining companies in Canada with no revenue over the past 12 months,… Continue Reading
[audio:https://c03c06.p3cdn1.secureserver.net/wp-content/uploads/2013/10/Silver-Bull-CEO-Tim-Barry-Discusses-Sierra-Mojada-PEA-Oct-3-2013-With-Tommy-Humphreys-21-min-audio.mp3] Silver Bull Resources (NYSE:SVBL, TSX:SVB) reached an important milestone last week: it released the Preliminary Economic Assessment (PEA) for their 100% owned Sierra Mojada silver-zinc project in Coahuila, Mexico. On Thursday, I discussed the report with Silver Bull CEO Tim Barry. The full audio of our conversation is available above and below; but first,… Continue Reading
THE CALANDRA REPORT: Subscribe Concordia Resource Corp. – one of Canada’s most puzzling metals equities – is gaining a DRC Congo nickel, copper and cobalt property and another, copper and gold, in Australia. Concordia (CCN in Canada) explains that pending shareholder approval it also shall distribute shares of a new Argentina-focused explorer to shareholders. That’s… Continue Reading
Lundin Group company, NGEx Resources (NGQ:TSX), released an updated resource estimate for their Josemaria copper-gold project located in San Juan province, Argentina. According to the company, the Lundin Family Trust controls 19.9% of NGQ’s shares. NGEx is the 60% operator of the project with JOGMEC (Japan Oil, Gas and Metals National Corporation) holding the other… Continue Reading
Stockwatch is reporting on a shell company, Raystar Capital, with some prominent shareholders including Lukas Lundin, Randall Oliphant, Doug Forster, and Blayne Johnson, which is about to become Newmarket Gold. Sources tell us Newmarket will be going after producing gold assets, and that Doug Forster will become the company’s CEO. Mr. Forster is an accomplished… Continue Reading
