In what looks to be a classic example of “first mover advantage’, the billionaire Lundin family is acquiring one of the best gold projects in the world, in the worst market in decades. Lukas Lundin’s Fortress Minerals is acquiring the Fruta del Norte (FDN) gold project in Equador from Kinross Gold for $240 million in cash and stock. The… Continue Reading
Some interesting & timely commodities related charts via ARC Energy and Morgan Stanley: Click to enlarge
As reported earlier (here), billionaire Swede Lukas Lundin has been in talks with Kinross and the Ecuadorian government for a potential deal on the infamous high-grade gold deposit known as Fruta del Norte. After 5,200 shares traded today, the Lundin Group shell, Fortress Minerals (FST.H:TSXV) was halted pending news. As we speculated earlier, this would… Continue Reading
Pioneering Yukon mineral and mushroom prospector Shawn Ryan hosted Bob Simon of 60 Minutes recently. The media love Mr. Ryan. He made the cover of New York Times in 2012, and now he’s been immortalized on the most successful TV newsmagazine in history. “The norm is to fail,” Ryan told Simon on prospecting. “If you play one… Continue Reading
Grenville Strategic Royalty Corporation (GRC.V) is any interesting non resource stock that is worth taking a look at. Grenville seeks a highly diversified portfolio of small royalties based on a percentage of revenues in well-managed companies. The company is still fairly small and is trading at 67 cents per share with a ~$38 million dollar… Continue Reading
The opportunity to buy a $1 bill and pay only $0.50 for it was created earlier this year in the shadow of the largest gold M&A deal of the year. The $3.6 billion acquisition of Osisko was announced in April when Goldcorp made a hostile offer for the Canadian gold miner and ultimately saw Agnico-Eagle/Yamana jointly outbid… Continue Reading
Richmont Mines (RIC.T) stock is on a tear since early June providing shareholders an excellent return in the last five months. The company today named Renuad Adams as president and CEO. The announcement comes just one day after Renaud resigned from his position of president and COO at Primero Gold. Richmont had been looking for a… Continue Reading
On the back of Mexico opening up its oil sector to foreign investors for the first time in 76 years, Colombia’s largest state-owned oil company, Pacific Rubiales (PRE:TSX) has decided to join in. The company, which produced 149,011 boepd (net) in Q2, signed a 3-year memorandum of understanding (MOU) with Mexico’s state oil company Petróleos… Continue Reading
Of the 15+ compelling stories told at our first ever Subscriber Investment Summit in Vancouver last week, one that stood out was NexGen Energy (NXE:TSXV), which made a rapidly growing Canadian uranium discovery in 2014 at the Arrow Zone. NexGen’s CEO, Leigh Curyer, previously managed a $500 million private equity fund with the mandate of finding… Continue Reading
Mick Davis, the former head of Xstrata who was kicked out after the $70 billion merger with Glencore completed in the spring of 2013, announced that his new venture (X2 Resources) just raised an additional US $1 billion. His warchest now sits close to US $5 billion with US $3.3 billion available for immediate withdrawal and another US $1.5… Continue Reading
The long and sustained downturn in the mineral exploration sector has caused share prices to be decimated over the last three years as companies have been incapable of convincing investors to pony up. Even companies with the highest-quality management teams have had to reduce their spend drastically as they batten down the hatches and try to weather… Continue Reading
Investors have long been trained to think that when it comes to gold, deflation is bearish and inflation is bullish. This basic economic theory holds that during inflationary periods the value of paper currency declines (less purchasing power) with every passing day, whereas gold maintains its purchasing power (hence the phrase “store of value”) and appreciates in terms… Continue Reading
Shares of Platino Energy (PZE:TSXV) remain halted this morning after the company announced it would be acquiring Colombia Energy Development Company (CEDCO) for US $50 million in cash. CEDCO is a wholly-owned subsidiary of Global Energy Development Plc. The Rationale: CEDCO holds 100%-interests in three exploration blocks in the Llanos Basin covering roughly 31,000 gross… Continue Reading
Since Lundin Petroleum (LUPE:OMX) began trading in 2001 at an IPO price of 2 Swedish Krona (roughly CAD $0.31) per share, shares have risen 5,265%. To put that in perspective, the stock market darling Apple is up 3,898% over the same period. The Stockholm-based company which is 1/3rd controlled by the Lundin Family Trust has been making… Continue Reading
A fantastic article on silver production was recently published by SRSrocco Report comparing financial results and production levels from the 12 primary silver producers to previous results. I won’t spoil it for you but the analysis reveals a couple of alarming trends for silver producers. The Primary Silver Mining Industry continues to suffer from manipulated low metal prices. However,… Continue Reading
