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

We had the wonderful opportunity of attending the Canaccord Genuity Global Resources Conference during the past couple of days in Miami, Florida. Canaccord put on a first class event with many of mining and energy sector’s best CIOs and CEOs on hand. Below are some of the key takeaways from the conference: Most miners are… Continue Reading

An interesting development in the Canadian uranium sector from Reuters this morning; as part of the Canada-EU free trade agreement, Canada has agreed to ease foreign ownership restrictions on Canadian uranium mines.  Currently foreign mining companies cannot own more than 49% of producing Canadian uranium mines, but that is about to change claims Reuters.  Note… Continue Reading

Mark Twain said history doesn’t repeat itself but it rhymes. We often see that in the capital markets. The big decline in Gold this year is reminiscent of that of 1975-1976. Yet, aside from that there are several other similarities between today and 1976. Gold, gold stocks, the stock market and commodities appear to be in a… Continue Reading

A light news day.  A good read with some interesting facts on private equity’s growing importance in the mining industry from the Financial Post. In 2012, private equity was involved in eight mining deals worth $8.5 billion and that is expected to grow to $10-$15 billion over 2013.  Contrastingly, miners in Canada are expected to… Continue Reading

Gold was supposed to be down huge once a debt ceiling deal was achieved – it appears that the DC clown show is nearing a deal but gold actually rose today: Click to enlarge For gold to break out of its 7-week downtrend we will need to see a daily close above $1300, however, today’s… Continue Reading

This morning, Robert Friedland’s Ivanhoe Mines (IVN:TSX) announced a monster hole at their Flatreef platinum project in South Africa.  In hole TMT006, IVN intersected 90.64m of 4.51g/t 4PGE (platinum, palladium, rhodium and gold) 0.37% nickel and 0.20% copper.  Within the 90.64m interval included 40.79m of 6.88g/t 4PGE. “This is an extraordinary drill hole,” said Robert… Continue Reading

NexGen Energy (NXE:TSXV) has completed their first phase of drilling on their Rook I project and announced a summary of their findings.  Rook I is 2.1km northeast of Fission/Alpha’s Patterson Lake South Discovery.  The program was designed to narrow down a large prospective target area, to determine if mineralization existed their and to better understand the geology… Continue Reading

Bruce Duncan’s Canada Carbon (TSXV:CCB) published results of a chemical characterization of material from the company’s 100% owned Miller hydrothermal lump/vein graphite property in Quebec, Canada. The news release suggested graphite from Miller “May be suitable for applications requiring ultra-pure grades, such as some core components of nuclear reactors.” Shares in the company traded heavily… Continue Reading

Resource consulting firm, Wood Mackenzie put out a report Monday stating that by 2020, coal will surpass oil as the key fuel for the global economy.  Global coal consumption is expected to rise by 25% on the backs of China and India as they fill demand for cheaper energy sources to meet their fuel needs.  By… 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

Colombian gold explorer CB Gold (CBJ:TSXV) announced its response to a news article written in the Colombian newspaper, La Republica, which stated that “days from the new delimitation of Paramo ecosystem, uncertainty is increasing regarding the impact that the decision will have on the mining companies located in the Santander area.  La Republica has knowledge of a… Continue Reading

Futures are a zero-sum game in the sense that on the contract settlement date all the longs and shorts must net out, with the contracts either being cash settled or the longs taking physical delivery of the commodity in return for providing cash to the sellers. However, during the time that a given futures contract… Continue Reading

At 8:42am EDT this morning an entity entered an order to sell 5,000 December gold futures contracts at market. This order represents roughly $640 million in notional gold value and triggered a temporary 10 second trading halt and a 5-minute period in which over $2 billion worth of gold futures contracts changed hands: Click to… Continue Reading

Peregrine Diamonds stock was introduced to a cliff earlier today when the company disclosed that DeBeers has elected not to exercise its option for 50.1% of Peregrine’s Chidliak diamond project on Baffin Island. Shares dropped from yesterday’s close of 65 cents down to the low-30s, before bouncing to 41.5 cents at the time of writing.… Continue Reading