By 1994, it was emerging that Alumbrera, our huge copper and gold project in Argentina, was shaping up to become a very large deposit. With the impending sale of our interests to a major mining company, I began to ponder our next venture. I asked John C. Thornton, noted geologist from Tucson, Arizona, where the… Continue Reading

We think the risk/reward proposition for buyers of Ivanhoe Mines (TSX:IVN) is quite attractive from current levels (below 1.70). From a Technical Analysis perspective, the multi-month falling wedge has dropped into the 1.50-1.70 support zone. Volume has also dried up which we like to see before a big bounce – $2.00 is a reasonable short… Continue Reading

The Matthew Hornor led Kaizen Discovery (KZD:TSXV), which is over 40%-owned by legendary resource developer Robert Friedland, has secured a $5.1 million strategic investment from ITOCHU Corp. of Japan.  Matthew Hornor has deep connections in Japan and was instrumental in securing Ivanhoe Mines’ (IVN:TSX) $300 million investment by a Japanese consortium for their Platreef platinum project… Continue Reading

Endeavour Mining Delivers 324k oz in 2013, Forecasts 400k to 440k oz in 2014. All in costs: $985-$1070 Today, after the Canadian markets closed, Endeavour Mining (EDV:TSX) released their 2013 fiscal year end numbers as well as an official outlook for fiscal 2014.  The company produced a total of 324,275 ounces of gold in 2013 which… Continue Reading

Novo Resources (TSXV:NVO), a junior exploration company exploring for gold in the Pilbara region of Northwestern Australia, announced a new gold-bearing reef discovery 700 meters west from their original 43-101 resource (421k ozs gold at 1.47 grams per ton). The reef varies from 1-2 meters thick and is less than 20 meters deep, and one… Continue Reading

Nearly one month into 2014 we have decided to separate the wheat from the chaff and identify the 5 most promising charts in the junior space:  Click to enlarge Alderon Iron Ore Corp. (ADV.TO) Alderon, with its partner Hebei Iron and Steel, are set to move its Kami iron ore project in Quebec’s Labrador Trough… Continue Reading

THE CALANDRA REPORT: Subscribe $91 yearly SIEM REAP, Cambodia — Just touched base here with Bob Neill, newest Angkor Gold board member. Bob is the 33-year-old executive from Medellin who handles much of Grupo de Bullet’s property syndication efforts in Colombia. He is just back from touring a handful of ANK’s properties in Ratanakiri Province.… Continue Reading

Endeavour Mining (EDV:TSX), the African gold miner, that currently operates three mines in West Africa has announced commercial production has been reached at its fourth mine; Agbaou in Cote d’Ivoire.  The company expects to grow production by 1/3rd this year, to approximately 400,000 ounces (up from 300,000 ounces in 2013) while reducing all-in costs per ounce below… Continue Reading

According to a Bloomberg article last week, ‘Big Mick’ Davis, the former CEO of Xstrata Plc, is seeking to raise $3 billion for his private, X2 Resources, prior to him acquiring any assets.  Davis, the 55 year-old South African, has raised $1 billion from investors including private equity firm TPG and Asia’s largest metals trader, Noble Group. … Continue Reading

The African-focused uranium producer, Paladin Energy (PDN:TSX) has come under pressure in the past few years due to a decreasing spot price for uranium as well as $600 million in debt on their balance sheet.  The market has been worried about the company’s ability to meet near-term obligations and the stock has been on a steady… Continue Reading

Kaizen Discovery (KZD:TSXV) has closed its initial 49% earn-in for the Fairholme copper-gold porphyry exploration project in central New South Wales, Australia (Clancy Exploration owns remaining 51%).   The Fairholme project is located on the Fairholme Igneous Complex.  The company can earn up to 65% in the project by spending $4 million on the ground over the… Continue Reading

Endeavour Mining Corp. | 413,043,293 Shares | $227,174,000 Market Cap | $.415 – $2.34 Year Range | $.55 Last Trade I called Endeavour Mining’s Vancouver office this afternoon for an update from the operator of three African gold mines. SVP of Business Development Doug Reddy returned my voice mail moments later with the following update:… Continue Reading

Africa Oil (AOI:TSXV) has continued its extraordinary success in Kenya with the discovery of two new large oil fields in their most recent two exploration wells. The discovery of these two new fields make it seven discoveries in seven exploration wells in Kenya. A perfect record. Although we have seen that the oil industry is… Continue Reading

Lucara Diamonds (LUC:TSX), the African diamond producer and Lundin Group company, announced its 2014 operational and financial outlook.  The company is forecasting revenues of $150 – $160 million in 2014 on 400,000 – 420,000 carats of diamonds being sold.  This includes the assumption that Lucara will have two ‘exceptional’ stone tenders, although this may be conservative given… Continue Reading

Companies in the resource business take note; bring the right deal to the table and BMO and GMP will find you the money.  Hudbay Minerals (HBM:TSX) announced today that they have secured a $150 million bought deal financing being led by GMP and BMO.  The financing was announced at $8.25 per share (only a small discount to… Continue Reading