By Peter Prengaman, The Associated Press BUENOS AIRES, Argentina — President-elect Mauricio Macri’s promises to revitalize Argentina’s sagging economy with free-market reforms and improve strained relations with the United States resonated with voters, carrying him to a historic win that ended 12 years of often-conflictive rule by President Cristina Fernandez and her late husband. But… Continue Reading
Junior miners, especially in bear markets, are all about the people… Wealth Minerals (TSX.V – WML) (http://www.wealthminerals.com) is working to ensure future success by attracting top tier talent with significant experience in Latin America. Yesterday, the company announced that Mr. Xiaohuan (Juan) Tang, B.Eng, M.Eng, M.Sc, M.Phil, is joining the leadership team as a Director… Continue Reading
The Lundins focus on Chile is continuing today, this time with more news from portfolio company, NGEx Resources (NGQ:TSX). “Chile’s biggest new copper-gold camp” is posted all over NGEx’s website and the company believes that they not only have large deposits (3 of them to be exact), but that they are sitting on an entire… Continue Reading
Globe and Mail mining scoop queen Rachel Younglai is reporting that the Lundin family are in talks to buy Ecuador’s Fruta del Norte gold deposit from Kinross Gold, one of the richest undeveloped gold mines in the world, albeit in a challenging mining jurisdiction. Kinross acquired the project for $1.2 billion in 2008 and have regretted the decision… Continue Reading
“A miners’ legend has it that Satan lives in gold mines.” The New Yorker is out with an incredible long form survival story. In 2010, 33 workers at the San José Mine in Chile’s Atacama desert were trapped 2000 feet below the surface for 69 days with barely enough food to keep them alive, and only oil tainted… Continue Reading
TD Securities energy analyst Jamie Somerville in Calgary raised his price target on Petroamerica Oil Corp to $0.60 this morning from $0.55, citing its relative valuation (particularly on EV/DACF), high netbacks, potential for free cash flow generation, and several high-impact exploration wells planned for the next 6–9 months. Shares in Petroamerica last traded at $0.35… Continue Reading
The competition to acquire Suroco Energy between Petroamerica Oil and VETRA Holding is heating up this morning, with Suroco re-affirming their support for a deal with Petroamerica and calling out VETRA’s questionable tactics to gain support for their bid. According to today’s Suroco release, Vetra is paying a proxy solicitation fee to Investment Advisors who solicit Suroco… Continue Reading
A new offer has emerged for Suroco Energy that I feel is unimpressive. Suroco signed a friendly agreement with Petroamerica Oil to merge the two small Colombian oil companies in late April, 2014. That deal was expected to close later this month. Then today, VETRA, a private firm which Suroco is partnered with on the Surioriente Block in Colombia’s… Continue Reading
Continental Gold (TSX:CNL) is developing one of the richest gold projects in the world right now. Their 100% owned Buriticá mine just outside Medellin, Colombia, has over 7 million ounces of gold and silver at very high grades (9+ g/t). Some are speculating the project could grow to 20 million ounces or more. “Buriticá is going to grow,”… Continue Reading
World leading global natural resource developers, the Lundin Group, led by Swedish billionaire tycoon, Lukas Lundin, have only one mineral exploration vehicle left. It’s called NGEx Resources Inc. (TSXV:NGQ), after the family motto: No Guts, No Glory and the company’s main focus, Exploration. NGEx owns three large copper gold deposits along the Chile/Argentinian border, the Josemaria, Los Helados, and Filo… Continue Reading
In an announcement that went, in my opinion, underreported but has potentially huge ramifications for the natural resources sector in Argentina was that the Paris Club of creditor nations and Argentina have come to an agreement for repaying nearly $10 billion in debts which are currently in arrears. Why this is significant for the natural resources… Continue Reading
The downtrodden gold mining sector has a new M and A deal to get excited about this morning, and this transaction is centred around creating a mid tier producer focused on Peru. Alex Black’s Rio Alto Mining is buying Stan Bharti’s Sulliden Gold for roughly $300 million in stock which values Sulliden at approximately $1.12… Continue Reading
At the conclusion of my Skype interview with Brent Cook a couple of weeks ago, he told me to reach out to the folks at Focus Ventures to learn a bit more about what they are doing at their Bayovar 12 phosphate project in Northern Peru. I responded that I had heard quite a bit… Continue Reading
Undervalued Colombian oil play Petroamerica Oil Corp (TSXV:PTA) has grown its exploration portfolio this morning, just three weeks after taking out a smaller competitor, Suroco Energy, to grow and diversify its asset base. The company is acquiring a 50% interest in the Llanos-19 block from a division of Pacific Rubiales, Colombia’s largest non state owned… Continue Reading
Continental Gold’s Buriticá project is Colombia’s most valuable gold deposit currently advancing towards production. The company is aiming to have over 10 million ounces of gold by 2015 and be in production by 2017, according to their latest corporate presentation. The Buriticá project covers a large area home to many illegal small scale miners, four… Continue Reading
