Rubicon made deep cuts to resources at its Phoenix gold project and signaled the end to its ambitions to bring the deposit, which has seen near $1 billion in exploration and development spent on it, to production. A revised resource, updating a 2013 estimate, paints a dramatically different picture of the Phoenix project, in the… Continue Reading
CEO.ca – Like an over-excited Jack Russell chasing a rabbit, the scent of fresh core beckons and I scramble to learn what I can of new drilling programs. As is the game, most exploration programs come to naught. But some don’t. So it goes. Wag my tail. I don’t know if this will turn into a… Continue Reading
Two of Canada’s stronger mid-tier gold producers were out of the gate today with positive 2015 production reports. Timmins miner Lake Shore Gold (LSG-T) produced 178,700 ounces of gold in 2015, compared to a record 185,600 in 2014. However, the treasury has grown to $100 million (in cash and bullion) compared to $60 million a… Continue Reading
Drilling Los Helados. Source: NGEx CEO.ca – For the first time NGEx Resources pulled together the 60%-owned Jose Maria and Los Helados copper-gold deposits into a single mining scenario – now called the Constellation project – in a preliminary economic assessment. It’s big. NGEx, about 19.9% owned by the Lundin family trusts, had previously envisioned a… Continue Reading
Probe Mines (PRB-V) The insider purchase was small, but the names of the buyer and the company are familiar – Jamie Sokalsky because he used to run Barrick Gold (ABX-T) and Probe Metals because it’s a cash-rich spinout of Probe Mines, purchased by Goldcorp in one of the few M&A transactions of note in 2015… Continue Reading
Good morning, As the markets continue a freefall in most sectors, except for gold (back over US$1,100) and gold stocks, a couple news releases caught my eye this morning. Claude Resources (CRJ:TSX) – Saskatchewan’s only publicly traded gold producer is out with 2015 annual results and guidance for 2016. Production for the year was 75,748 ounces, a… Continue Reading
The media has run with a recent note by Bank of America mining analysts arguing now is the time to raise billions – as much as $30 billion – through new equity to take over other distressed assets. The note garnered headlines like “BHP, Rio Tinto tipped to sell $30b of shares to fund asset buys.”… Continue Reading
Kaminak Gold (KAM-V), a popular gold play among junior mining investors, halted the stock then released a Feasibility Study just after the close today. The FS details a 10-year, open-pit heap-leach mine yielding an after-tax internal rate of return of 37% and NPV of $455 million (at a 5% discount). The economics have improved since… Continue Reading
There was a sheet ice storm in Portland, Oregon the other day and I did not make it to the office. There was one inch of sheet ice on both my car and the roads, and then it warmed up slightly, producing water on top of the ice. With the ice storm, the decision to… Continue Reading
Some insider transactions of note from overnight, with a focus on stock purchases in the public market. Did I miss anybody interesting? Let me know, and track what the insiders are doing using the black Insiders tab at CEO Chat. Uracan (URC-V): Chairman Clive Johnson picked up more shares Tuesday, buying 312,000 shares at 2… Continue Reading
I was curious to hear about Euromax Resources’ view of the road to final financing on the Ilovica copper-gold project in Macedonia, after the company released a no-big-surprises feasibility study this morning. London-based Steve Sharpe, president and CEO, answered his phone and after some wrangling with Skype’s poor quality, we chatted for 10 or so… Continue Reading
I catch up with Sulliden Mining (SMC-T) this morning to hear about its new president, Paul Pint, and what working role he will fill. Sulliden – spun off from “old Sulliden,” a predecessor company that was taken over by Rio Alto – owns stakes in a few juniors like Belo Sun and Falco, and also… Continue Reading
Commodity carnage made 2015 another painful year for junior mining investors. It was a year that saw me take a buyout from a newspaper job at the Vancouver Sun and transition to the exciting world of digital publishing with Tommy Humphreys and the growing CEO.CA team. The buyout also gave me some dry powder for another… Continue Reading
Today I join the CEO.ca team. On the one hand it’s a seamless shift for me. As at Mineweb and the Northern Miner, my previous homes as a writer and editor, I’ll be helping the CEO.ca team produce crack stories about exploration and entrepreneurs. On the other hand it’s a new adventure. Tommy and his… Continue Reading
Via Energy and Gold.com: The Russell 2000 (IWM) has been testing an important area of resistance for the last few days: IWM (Daily) This resistance near $115-$115.20 on the IWM also happens to line up with the flat 50-day simple moving average and the 38.2% Fibonacci retracement of the June-August decline. It is fitting… Continue Reading
