This morning, Dundee Capital Markets’ equity research team initiated formal coverage on Lukas Lundin’s Lucara Diamond (LUC:TSX) and put a buy rating with a $3.00 target price on it (approximately 10% higher than the last trade of $2.73). Yesterday, outperforming Lucara announced the sales figures from its second exceptional stone tender of 2014 and fifth… Continue Reading
Since an unprecedented staking rush in 2010 that had not been seen since the Klondike Gold Rush, the Yukon has fallen out of favor with many mining and exploration investors due to its short seasons and expensive work programs. One company that has continued in the land of the midnight sun is Kaminak Gold (KAM:TSX), which discovered the… Continue Reading
With all of the well-deserved attention of late on Lukas Lundin’s Lucara Diamond (LUC:TSX) due to their outperforming share price (continuing to hit all-time highs), the natural question would be; should they use their stock to grow? My answer is, unequivocally, yes. There are limited opportunities in the diamond space as discovering and mining diamonds is… Continue Reading
Shares in Lucara Diamond Corp. surged nearly 5% today following positive coverage from Norwegian investment firm Pareto Securities, which has a significant following in the shipping and energy sectors. Shares in the Toronto Stock Exchange listed Lucara, which operates the Karowe diamond mine and Mothae development projects, both in Botswana, Southern Africa, reached $2.48 intraday,… 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
Lukas Lundin’s base metals explorer, NGEx Resources (NGQ:TSX) this morning released seven of fourteen holes from their 2013/2014 field season at their Josemaria project in Argentina. The focus of their 7,302m program was to define the high-grade supergene zone near the north end of the project and to test a possible extension there. Two of… Continue Reading
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
Lundin Mining (LUN:TSX), Lukas Lundin’s namesake multi-billion dollar base metal mining company, announced today that they would be spending in excess of $460 million in capital in 2014, (compared to an estimated $255 million for fiscal 2013). The bulk of the spending, $300 million will go towards completing construction of the Humboldt mill and their recently acquired Eagle mine,… Continue Reading
Click here to watch the BNN interview. Andrew Bell: We’ve seen a couple of downgrades, BMO and RBC, they say nothing wrong with the company, just the stock’s got above their valuation. William Lamb: I think the way we would see that is they are basing on information which is available in the market. The… Continue Reading
Lukas Lundin’s Lucara Diamond (LUC:TSX) sold almost $23 million from their third ‘exceptional’ stone tender. The diamonds were from the company’s Karowe mine in Botswana which has been the backbone of the company’s success this year. In May of this year, LUC announced their first stone tender which sold 15 stones for gross revenue of… Continue Reading
D. Grenville Thomas’s North Arrow Minerals Inc. (TSXV-NAR) has made Canada’s newest diamond discovery at the Pikoo project in central eastern Saskatchewan. North Arrow tested a 209.7 kg sample of drill core from the PK150 kimberlite, which has returned 745 diamonds larger than the 0.106 mm sieve size, including 23 diamonds larger than the 0.85 mm sieve size, according… Continue Reading
Doug Forster’s Newmarket Gold Inc. (TSXV:NGN) may be a breath of fresh air to Canada’s mining sector. The company has experienced executives touting optimism and looking for acquisitions in a gold mining market where few buyers exist. Then again, it could end up another failed TSX-venture shell, waiting on the shelf for the next dream… Continue Reading
Lundin Group company, ShaMaran Petroleum (SNM:TSXV) announced their plans to issue $150 million in senior secured bonds which will be used to finance their future expenditures on the Atrush block in the Kurdistan region of Iraq. Nordic investment bank, Pareto Securites has been appointed as financial advisor to the offering. The Atrush block is the… Continue Reading
US Global Investors (NASD:GROW) CIO Frank Holmes, the always energetic and insightful natural resources fund manager, made two simple yet profound observations regarding identifying junior resource management teams worthy of your investment dollars during a private conversation at Canaccord Genuity’s Global Resources Conference in Miami yesterday. 1) Junior resource companies operating internationally should always have senior managers… Continue Reading
Lukas Lundin’s Africa Oil (AOI:TSXV) announced a $450 million brokered private placement. The company is issuing 56.5 million shares at $8.25 per share and will be placed on a best efforts basis through Citigroup, Dundee and Pareto Securities. The company claims to have good support for this financing with its existing shareholders as well as… Continue Reading
