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Rising earnings to mark Americas Silver’s next 3 quarters as silver optionality beckons
15th May 2018 Diversified Canadian miner Americas Silver is looking towards growing profit over the next three quarters as lower costs and rising grades at key operations provide it with runway potential to reward investors. “Our job as management is to figure out how to make money at these low silver prices.... →
Osisko Mining unveils maiden resource estimate for Windfall Lake
15th May 2018 Mine developer Osisko Mining has published the first resource estimate for its fully-owned Windfall Lake project, in Quebec’s Abitibi greenstone belt, outlining about 2.8-million gold ounces in the inferred category above the 3 g/t cutoff. Toronto-headquartered Osisko advised in a press release... →
Callinex jumps 35% on viable combined Nash Creek, Superjack PEA
15th May 2018 Base metals-focused Callinex Mines has made public the results of a preliminary economic assessment (PEA) examining the production of zinc from the combined 100%-owned Nash Creek and Superjack projects, located in New Brunswick’s prolific Bathurst Mining District, in Maritime Canada. The PEA... →
Barrick, Goldcorp to convert Pueblo Viejo power plant to natural gas
14th May 2018 Barrick Gold and Goldcorp’s Pueblo Viejo Dominicana Corporation (PVDC), in the Dominican Republic, will convert the Quisqueya I power generation facility from heavy fuel oil (HFO) to natural gas, with the expectation of saving about $54/oz of gold produced over the remaining life of the... →
Trevali revenues rise 187%, Q1 earnings miss on Perkoa freight timing
11th May 2018 Pureplay zinc producer Trevali Mining has reported adjusted earnings a share of $0.04, missing average analyst earnings forecasts by a penny, on lower-than-expected sales from the Perkoa mine, in Burkina Faso, mainly owing to freight timing at the Port of Abidjan, in Côte d’Ivoire.... →
More agile Sherritt focused on building ‘cycle-proof’ balance sheet
11th May 2018 Canadian diversified miner Sherritt International is focused on further strengthening its balance sheet, with a view to building a “cycle-proof” balance sheet as Class I nickel and cobalt prices rise, president and CEO David Pathe tells Mining Weekly Online. Building on from the late... →
Silver miners report solid results
11th May 2018 Canadian silver miners Americas Silver and Excellon Resources have reported strong operational improvements during the first quarter ended March 31, as both companies navigate the dithering silver price environment and focus internally to streamline operations and drive down costs. Toronto-based... →
Streaming firms reward shareholders with rising dividends on strong Q1 earnings
11th May 2018 Shareholders of some of the most prominent Canadian precious metals streaming firms have been rewarded with rising dividends on the back of strong first-quarter earnings results. Precious metals streaming deal pioneer and the largest player in this specialist sector, Wheaton Precious Metals... →
Pre-construction work gets under way at Nevada Copper’s promising Pumpkin Hollow
11th May 2018 The proponent of what will probably be North America’s next new copper mine development, Nevada Copper, has signed a pre-works agreement with Cementation USA and secured key long-lead time items, further derisking the restart of construction of the company's fully permitted and shovel-ready... →
Gold investment seen critical in managing emerging market portfolio performance – WGC
10th May 2018 Gold is a proven store of value, especially for its role in safe-haven investment in times of geopolitical crises, but according to new analysis from the World Gold Council (WGC), the yellow metal plays a critical role in portfolios with exposure to emerging markets (EM). The WGC notes in its... →
Corsa Coal rallies as sales, revenues jump
10th May 2018 TSX-V-listed metallurgical coal miner Corsa Coal has reported an 89% jump in first-quarter coal sales, helping to lift revenues 54% year-on-year, as strong export shipments and price realisations led to improved financial results. The Canonsburg, Pennsylvania-based miner said it sold 557 721 t of... →
New Gold appoints former Rainy River executive as CEO
10th May 2018 TSX-listed gold producer New Gold has appointed the former CEO of Rainy River Resources – which New Gold bought out in 2013 – Raymond Threlkeld to succeed Hannes Portmann, who has left the company to pursue other opportunities, as CEO. Threlkeld will also join the board, the company advised. →
Pipeline impasse to cost Canada C$15.8bn this year
10th May 2018 Canada can expect to incur up to C$15.8-billion in lost revenues this year because of pipeline capacity bottlenecks in the country, and fervent opposition to building new pipelines that can open new markets for the domestic industry. A new report by Canadian independent policy think tank, the... →
Midas jumps on Barrick’s strategic backing
10th May 2018 The TSX-listed equity of Midas Gold jumped nearly 19% following an announcement by Barrick Gold that it will increase its position in the company to 19.9%. Barrick sees the investment as a strategic move to gain access to the Stibnite gold project, in Idaho, which Barrick president Kelvin... →
Kinross reports knock-out Q1 profit
9th May 2018 Canadian multinational gold producer Kinross Gold has reported a 435% jump in headline profit for the three months ended March 31, as 30% higher year-on-year margins and a decrease in depreciation, depletion and amortisation boosted the bottom line. Adjusted net earnings increased to... →
400% price hike prompts Energy Fuels to restart vanadium recovery at White Mesa
9th May 2018 A 400% rise in vanadium pentoxide (V2O5) prices over the last 24 months has prompted US-based uranium producer Energy Fuels to resume vanadium recovery operations at its flagship White Mesa mill, in Utah, this year. The lithium-ion battery-making ingredient has reached new ten-year highs of more... →
Fura unearths exceptional 25.97 ct rough emerald in Colombia
8th May 2018 Dubai-based precious gem producer Fura Gems has recovered a 25.97 ct rough emerald at its Coscuez Colombian emerald mine. Fura said in a statement on Tuesday that it believes the emerald to be rare and exceptional owing to its size, colour saturation and clarity. →
Shell sells out of Canadian Natural position for C$4.3bn
8th May 2018 British–Dutch multinational oil and gas company Royal Dutch Shell has agreed to sell its entire stake in Calgary, Alberta-based company Canadian Natural Resources in a deal valued at about C$4.3-billion. Shell has reached agreement with underwriters Goldman Sachs & Co, RBC Capital Markets,... →
Nevsun cites inadequate value, problematic structure in rejecting proposal
8th May 2018 Base metals miner Nevsun Resources has publicly broken its silence on the announced C$1.5-billion takeover proposal led by Euro Sun Mining and supported by Lundin Mining. The miner issued a statement on Tuesday, saying the board unanimously rejected four consecutive proposals – three by Lundin... →
Taxpayers federation to seek intervenor status in pipeline, carbon tax lawsuits
8th May 2018 The Canadian Taxpayers Federation (CTF) will seek standing as an intervenor in two upcoming court reference cases launched by the governments of British Columbia and Saskatchewan. In British Columbia, the provincial government is asking the courts if they have the power to regulate oil shipments,... →
Nutrien, Mosaic report big misses on Q1 earnings; ups FY2018 profit guidance
8th May 2018 A late start to the spring season across North America and west coast rail performance issues were the main contributors to a disappointing first quarter for plant fertiliser major Nutrien, the company said on Monday. The Saskatoon, Saskatchewan-based company reported adjusted net earnings of... →
Seabridge closes C$19.7m KSM flow-through financing
8th May 2018 TSX- and NSYE-listed project developer Seabridge Gold has closed a C$19.7-million private placement of flow-through shares for exploration this year at its KSM gold/copper project, located 65 km northwest of Stewart, British Columbia. The company has issued 1.15-million flow-through shares,... →
Nevsun snubs C$1.5bn Lundin Mining, Euro Sun proposal 4 times
8th May 2018 Canadian base metals producer Nevsun Resources remained mum on Monday regarding a C$1.5-billion unsolicited proposal disclosed by suitors Lundin Mining and Euro Sun Mining. Toronto-based Lundin said it had been unable to successfully engage Nevsun in “meaningful discussions” after several attempts. →
Wealth Minerals switching gears from project accumulation to exploration
8th May 2018 The largest holder of Chilean lithium brine assets Wealth Minerals expects to have a drill turning in the ground at its Trinity project before month-end, the company announced on Monday. The Vancouver-based company said transient electromagnetic surveys have identified highly conductive zones,... →
Namibia Rare Earths stock jumps on Kunene cobalt/copper campaign
8th May 2018 The TSX-V-listed stock of Canadian explorer Namibia Rare Earths (NRE) on Monday jumped nearly 20% to C$0.335 a share following news that the company is gathering momentum with a planned exploration campaign over its early-stage Kunene cobalt/copper play, in Namibia’s northern desert. “We are in... →
Largo profit takes off as vanadium prices spike
7th May 2018 A 164% spike in vanadium pentoxide (V2O5) prices over the past 12 months has resulted in Canadian producer Largo Resources swinging back into the black for the first three months of 2018, the company reported on Monday. Based in Toronto, with its flagship Maracás Menchen mine and mill located in... →
IFR JV hits Tecolutla TEC-10 target in Mexico
7th May 2018 Calgary-based oil and gas explorer International Frontier Resources (IFR) announced on Monday that its joint venture Tonalli Energia has reached the intended depth for its first evaluation well on its onshore Tecolutla block TEC-10 well. In partnership with Mexican petrochemical leader Grupo... →
Canadian feds to intervene in BC reference question
4th May 2018 Ottawa announced on Thursday that it will intervene in the constitutional reference case filed by the government of British Columbia under the British Columbia Constitutional Questions Act. “We are confident in Parliament’s jurisdiction and will intervene on the question in order to defend our... →
Ivanhoe’s Platreef Shaft 1 project reaches depth of 750 m
4th May 2018 Blockbuster mine developer Ivanhoe Mines has reached a significant development milestone at its Platreef platinum/palladium/ gold/nickel/copper discovery on the northern limb of South Africa’s Bushveld Complex, after Shaft 1 has reached a depth of 750 m. Lateral development will take place from... →
66 more days to resolve dam failure dispute
4th May 2018 A Brazilian federal court has given mining giants BHP and Vale an additional 66 days to resolve a multibillion-dollar settlement regarding their joint venture Samarco mine’s tailings dam failure in 2015, that killed 19 people and is billed as the country’s worst environmental disaster. BHP and... →
Tahoe breathes sigh of relief as La Arena strike settles; Escobal remains shuttered
3rd May 2018 TSX- and NYSE-quoted Canadian precious metals producer Tahoe Resources expects operations at its La Arena mine, in Peru, to return to normal within 48 hours, following a wildcat strike by about 65% of the mine's workforce that started on April 22. The good news was enough to give the TSX-listed... →
NexGen gains on two new discoveries, exploration progress
3rd May 2018 Vancouver-based uranium explorer NexGen Energy has reported the scintillometer results for 54 winter drill holes comprising 30 208 m from its flagship Rook I project, in Northern Saskatchewan’s Athabasca Basin, reporting positive results on targets tested and outlining two new discoveries.... →
Update – 5 of 13 saved after seismic shock at Sibanye-Stillwater mine
3rd May 2018 One miner has died and two injured miners have been brought to surface after 13 miners went missing following a fall of ground that was triggered by a seismic shock at Sibanye-Stillwater's Driefontein operations' Masakhane mine, on South Africa's West Rand. The two employees have been transported... →
Hudbay posts wider profit
3rd May 2018 Base metals producer Hudbay Minerals has reported a strong 314% improvement in first-quarter net profit to $41.4-million, or $0.16 a share, which came in below average analyst estimates of $0.18 a share. Revenues for the period grew nearly 50% to $386.66-billion, the Toronto-based company... →
Comparatively high exploration spending belies sagging discovery rate – S&P Global
3rd May 2018 Despite exploration budgets remaining at comparatively high levels in the past decades, geologists have only been able to find a fraction of the gold ounces they discovered in the preceding 18-year period, a new analysis conducted by S&P Global Market Intelligence shows. The financial information... →
Centerra pulls trigger on Öksüt construction; Q1 headline earnings fall 76% on lower sales
3rd May 2018 Canadian gold producer Centerra Gold has started construction of the Öksüt gold project, in Turkey. The Toronto-headquartered miner received the last outstanding pastureland permit in January, paving the way for the project’s future development. Centerra has ramped up expenditures at the site,... →
Kirkland Lake triples Q1 headline earnings as sales, prices rise
3rd May 2018 Midtier gold miner Kirkland Lake Gold has more than doubled its first-quarter earnings as higher output and revenue dovetailed with lower production costs and reduced depletion and depreciation costs, the company said on Wednesday. The Toronto-headquartered miner reported 201% year-on-year growth... →
Alamos earnings rise as Island Gold outperforms
2nd May 2018 Miner Alamos Gold has swung back into the black for the first quarter, mainly as a result of a better-than-expected performance from the recently acquired Island Gold mine, in Ontario. For the three months ended March 31, the Toronto-based company produced 129 000 oz of gold, as Island Gold put... →
Kirkland Lake looks towards Australian Union Reefs revival; visible gold near Fosterville
1st May 2018 Triple-listed Canadian miner Kirkland Lake Gold has reported strong drill results from the Union Reefs project, located in Australia’s Northern Territory, the company announced on Monday. Four holes for 4 287 m were drilled from surface to test the potential of the Prospect, Crosscourse and the... →
Northwest Territories gets shortest end of straw as mining boosts Nunavut, Yukon economies
1st May 2018 A lack of new mining projects in the development pipeline of Canada’s Northwest Territories (NT) is threatening to derail the region’s economic growth outlook, the latest ‘Territorial Outlook’ by The Conference Board of Canada (CBoC) has found. The independent Ottawa-headquartered think tank... →
Captive Canadian miners decry minister’s move on Bill C-49
30th April 2018 Canadian miners are voicing frustration and concern over the federal government’s removal of a Senate amendment relating to final offer arbitration (FOA), and with its modification of an amendment giving the Canada Transportation Agency own-motion power, in Bill C-49 – legislation that amends the... →
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