Martin Hayes, Fastmarkets reporter, reminisces on his decades of covering the hectic action on the LME floor. (Republished with permission from Fastmarkets.com.) He begins: For nearly all my working career in the City, I have been closely involved with the LME and reporting from its open-outcry trading floor, the world-famous ‘Ring’. I first went down there… Continue Reading
The mining industry is really bad at seeing around corners or even remembering recent history. Take a look at Freeport-McMoRan (NYSE:FCX). They could never have predicted what wealth they would destroy by playing it “safe” and buying out two oil and gas companies — Plains Exploration and McMoRan Exploration Co. — with serious leverage. That ill-timed… Continue Reading
Streaming company Sandstorm Gold (SSL-T) has made one of its biggest forays into the royalty business yet, acquiring 56 royalties from diversified miner Teck Resources for US$1.4 million in cash and $20.6 million in shares (at $3.57/share). The assets offer diversification geographically (33 are in North America) and across various project stages. Four of the… Continue Reading
Kaminak Gold is one of the few junior gold explorers moving full speed ahead with its flagship Coffee Gold Project despite challenging market conditions; the economics at Coffee are simply too compelling. Last week Energy & Gold had the opportunity to catch up with Kaminak Gold (KAM.V) CEO Eira Thomas and VP of Corporate… Continue Reading
“The whole problem with the world is that fools and fanatics are always so certain of themselves, and wiser people so full of doubts.” – Bertrand Russell I’ll never forget my first bull-market mining investment conference. An “analyst” hosting a standing-room only workshop was banging the table about a 20-cent exploration stock, shouting, “They are… Continue Reading
CEO.ca – Long time silver-gold commentator David Morgan is trying to raise US$11 million to US$28 million to seed a new royalty company called Lemuria Royalties. A website is up and a term sheet out. The plan, according to the term sheet (US$1/unit with warrant at US$0.85), is to acquire royalty and streaming assets in the… Continue Reading
There was a strong sense of déjà vu to the horrific news from the West African country of Burkina Faso on Friday night: Islamic terror attack on a hotel frequented by Westerners, many dead. For mining investors, it was another unwelcome geopolitical jolt from the poor, landlocked and prolific gold-producing country where many Canadian companies are… Continue Reading
CEO.ca – Nautilus Minerals (NUS-T) enters a critical phase in its bid to become a seafloor metals miner. Earlier today Nautilus noted it would start testing a number of its seafloor mining tools in early 2016. The key thing to realize here is that these tools have never been used before. Indeed, this kind of seafloor… Continue Reading
Global markets continued to fall this week as the fall in commodity prices continued unabated. Both the TSX Composite and Venture Indices fell to 52-week lows on the back of continued falling oil prices, led by WTI crude which fell below the $30 per barrel level for the first time since 2003 as Iran prepared… Continue Reading
The Young Mining Professionals Toronto (YMPT) is back, and excited to announce we will be hosting Pierre Lassonde as our distinguished speaker on Thursday, February 18, 2016 at Hy’s Steakhouse in Toronto. Pierre Lassonde is the Founder and Chairman of the world’s leading gold-focused royalty and streaming company, Franco-Nevada. Mr. Lassonde is an authority on… Continue Reading
Skeena Resources (SKE-V), Ron Netolitzky’s British Columbia gold developer, published an updated resource estimate Thursday morning for two deposits on its GJ property, purchased from Teck and NGEx last October. GJ adjoins Skeena’s flagship Spectrum project in B.C.’s northwestern Golden Triangle, providing a valuable land bridge between Highway 37 and Spectrum. The Donnelly and North… Continue Reading
Heavily promoted nickel explorer Equitas Resources (EQT-V) said today, after a nearly week-long trade halt, that it’s taking on a Brazilian gold project through a merger with privately held Alta Floresta Gold. After the deal is done it is to own 50% of the combined company. Three thoughts: 1. Awkward. I’ll guess I’m not alone… Continue Reading
Of course you don’t break out the Champagne bottle yet on the Lundin Gold ($LUG) deal to advance Fruta del Norte in concert with the Ecuadorian government. Simply put, Ecuador has yet to build much faith in treating the mining sector fairly. It’s fair to remain a sceptic. That said. Obviously Lundin Gold did something… Continue Reading
This morning saw a couple of news releases from mining companies about 2015 year-end production results. I will take a brief look at each company with a focus on if they achieved guidance or not. The supply/demand dynamics for many metals are in the oversupply category to start 2016, especially with China slowing down. It will… Continue Reading
NORTHERN DYNASTY SAYS EPA INVESTIGATION WHITEWASHES ALLEGED MISCONDUCT Northern Dynasty (NDM-T) hit back against the U.S. Environmental Protection Agency (EPA) in its feud with the environmental regulator over Pebble project permitting. Late yesterday the EPA’s Office of the Inspector General (OIG) released a report clearing the EPA of misconduct in making a pre-emptive move to… Continue Reading
