A very rare trading session today for the gold sector: Click to enlarge It might not be a coincidence that today’s 3.14% rally in gold stocks coincided with the last day for tax loss selling in Canada – if history is any indication the gold miners could be in for a long overdue Santa relief rally… Continue Reading
Brian Dalton’s Altius Minerals (TSX:ALS) is building THE diversified Canadian minerals royalty company. Today the firm announced acquiring 51% of Sherritt International’s Canadian coal and potash royalties for $254 million, representing approximately 86% of Altius’s market cap at the time of the announcement. Dalton is betting the farm on long life coal and potash assets,… Continue Reading
RANCHO MIRAGE, CALIFORNIA – Niocorp Developments Ltd., a Vancouver-based junior mining company which is developing the Elk Creek niobium deposit in Nebraska, announced that newly appointed CEO Mark Smith has invested another $510,000 US (3.4 million shares at $.15), bringing his total ownership in Niocorp to 8.4 million shares or 8.4% of the company, filings… Continue Reading
The results from our gold poll are in and they are somewhat surprising: A vast plurality believed that gold would remain rangebound through the end of the year. Meanwhile, barely 1 in 4 poll respondents believed that there would be a bullish end to 2013 for gold. Given that the majority of CEO.CA readers are… Continue Reading
Dr. John-Mark Staude’s, prospect generator, Riverside Resources (RRI:TSXV) has announced they found a partner in Pembrook Mining (private) to option their Coatan gold project in Mexico. Pembrook will have to pay Riverside $27,460 in cash and incur $1.8 million in expenditures on the project over the next four years to earn an initial 70% interest. Then, to… Continue Reading
The Lundin Group’s Lucara Diamond Corp. (TSX:LUC) jumped 11.3% in early trading Friday after the company announced a greater than $1 billion increase in the estimated in-situ value of the Indicated mineral resource at the Karowe diamond mine in Botswana. The growth is credited to the company’s consistent recovery of large and exceptional stones at… Continue Reading
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
Tekoa from Bull Market Thinking interviews Sprott Asset Management founder Eric Sprott, who became a billionaire in the gold bull market, but has lost his step as the bullish outcome for precious metals and resources equities Sprott predicted has yet to materialize. Still, the interviewer asked a couple of great questions of the pioneer Sprott:… Continue Reading
After coming off their huge Patterson Lake South win, the former management team of Alpha Minerals is now running Alpha Explorations (AEX:TSXV) which is a spinout with assets in the Cluff Lake and Patterson Lake areas in Saskatchewan. They also hold prospective land in the Timmins gold camp area in Ontario. Today they announced their… Continue Reading
Malcom Perry of the Vancouver Sun reported that Ted Turton, who co-founded Canaccord Genuity Group (CF:TSX) with Peter Brown, died this week at the age of 84. Our thoughts and prayers are with his friends and family. Mr. Turton and Mr. Brown paid $23,000 in 1968 for a small brokerage firm called Turton & Co. which became Canarim Investment… Continue Reading
The high-grade veins at Continental Gold’s (CNL:TSX) Buritica project in Colombia continue to grow as drilling expands the areas of known mineralization. This morning, Ari Sussman (CEO) announced the latest batch of 17 drill holes from his project. Four of the holes were successful in intersected veins sets that were 200m west of the current… Continue Reading
THE CALANDRA REPORT: Subscribe $91 yearly Also: Sysorex Global, Inovio Pharma Solvista Gold corners Iamgold into a porphyry partnership at Caramanta in Colombia. Takeways: Breathing room for Solista’s Miller O’ Prey and Jeffrey Miller. Bob Allen’s Grupo de Bullet owns a hunk of Solvista (SVV in Canada). Solvista is one of our TCR 8 It… Continue Reading
Robert Friedland’s Ivanhoe Mines (IVN:TSX) has completed dewatering activities to the main working level of the historic and high-grade Kipushi copper-zinc-germanium-lead and precious-metals mine (68% IVN, 32% state-mining company) in the Democratic Republic of Congo (DRC). The mine’s underground workings were extensively flooded during the previous 18 years when the mine was on care-and-maintenance as a former… Continue Reading
Mark O’Dea’s West African gold development play, True Gold Mining (TGM:TSX) released a robust feasibility study for the Karma gold development project in Burkina Faso. At $1,250 per ounce gold, the project provides an after-tax NPV(5%) of $180 million and a 43.1% IRR (TGM’s netted amount). This provides for a payback of the initial $131.5… Continue Reading
Sound familiar? That’s because Asanko Gold (AKG:TSX) and PMI Gold (PMV:TSX) attempted a merger in late 2012 that was mutually terminated in early 2013 after it became apparent they wouldn’t get the supermajority votes necessary to complete the transaction. Now, after the largest price decline in gold in over a decade and the substantial derisking that… Continue Reading
