Some of the mining world’s top executives are starting to plan their departures, driving speculation about who will lead their companies into the next decade. The changing of the guard raises the prospect of a strategic shift, as the industry searches for ways to enthuse investors after a belt-tightening era characterized by asset sales and cost… Read More
IAMGOLD Corporation (TSX: IMG) today announced that it has entered into a forward gold sale arrangement with financial institutions whereby the company will receive a prepayment amount of $170 million in exchange for delivering 150,000 ounces in 2022, with a gold floor price of $1,300 per ounce and a cap price of $1,500 per ounce. The… Read More
Skeena Resources of Vancouver recently completed a surface drilling program on its Eskay Creek property in the province’s Golden Triangle. Phase one drilling at the 21A zone returned these highlights: Hole SK-18-033: 4.93 g/t gold, 134.59 g/t silver over 33.57 metres; Hole SK-18-034: 7.11 g/t gold, 54.21 g/t silver over 28.88 metres; Hole SK-18-036: 22.36 g/t… Read More
Underground and surface drilling yields results for Toronto-based Wallbridge Mining Co. at its Fenelon gold project 75 km northwest of Matagami, Quebec. The results are high grade – up to 144.77 g/t gold over 6.1 metres – but the program also resulted in the discovery of a new visible gold zone at depth. Surface drilling has so… Read More
With the receipt of Type A water licences, Toronto-based TMAC Resources has completed the permitting of its Madrid (both north and south) and Boston gold deposits. The Minister of Intergovernmental and Northern Affairs approved the licences, as recommended by the Nunavut Water Board. The company spent last year ramping up production at its first mine on… Read More
Gold output in South Africa, once the world’s biggest producer of the metal, fell for a 14th straight month in November, the longest streak of declines since 2012. Production retreated 14 percent from a year earlier, Pretoria-based Statistics South Africa said in a statement on its website Tuesday. Key Insights Total mining output dropped 5.6… Read More
Cryptocurrencies have the potential to revolutionize the economic affairs and make it possible to live off the grid. Juraj Bednár, a cybersecurity expert and entrepreneur, believes in the dream. He and other privacy activists in the Czech Republic and Slovakia have created crypto-only businesses that defy the status quo. Either technological improvements or new cryptocurrencies… Read More
Lion One Metals (TSXV: LIO) announced has just bought the drilling assets of drilling company Geodrill, which is located in Fiji’s main island. The purchase would allow Lion One to prepare for drilling at its 100%-owned Tuvatu gold project, which on the island of Viti Levu also in the Fiji Islands. In a press release,… Read More
Toronto-based Palamina Corp. (TSXV: PA) took one step forward regarding its 100%-owned Coasa gold project by submitting, this week, an Environmental Impact Declaration (DIA in Spanish) to the Peruvian Ministry of Energy and Mines. Such declaration is the primary environmental permit required prior to drilling. The 17,200-hectare Coasa project is located in the Puno region… Read More
Canadian precious metals producer McEwen Mining (TSX, NYSE:MUX) on Tuesday posted 2018 production results that exceeded expectations, with gold equivalent output climbing 15% from 152,329 ounces in 2017 to 175,561 ounces last year. Full-year production included 135,124 ounces of gold, up 23% when compared to the previous year, and 3.03 million ounces of silver, or… Read More
Canada’s IDM Mining (TSX-V:IDM), which is in the process of being absorbed by fellow miner Ascot Resources (TSX-V:AOT), can now start building its flagship Red Mountain gold and silver mine near Stewart, British Columbia, as it has received the federal government’s environmental approval. Environment and Climate Change Minister Catherine McKenna said late on Monday the proposed… Read More
Summary: An update to the Periodic Table of Commodity Returns. Goldman Sachs issues an overweight recommendation for gold and commodities. Paradigm Capital says royalty companies are the “best bet” in metals and mining. Our ever-popular Periodic Table of Commodity Returns has been updated for 2018 and is now available on the U.S. Global Investors website!… Read More
The cost to create the world’s largest gold company: A 17 percent premium for a $10 billion all-shares acquisition that faces some big-time challenges down the line. Newmont Mining Corp.’s deal for Goldcorp Inc. stands in stark contrast to the recent zero-premium merger between Barrick Gold Corp. and Randgold Resources. The key question: Why? In… Read More
GGX Gold (GGX; US-OTC; GGXXF) continues to cut near surface high grade gold mineralization at its 56 sq. km Gold Drop gold property near Greenwood in southern British Columbia. The results come from a November 2018, 11 hole drill program where GGX tested the southwestern region of Gold Drop’s COD vein system. Earlier results from… Read More
Investors and analysts are still debating whether the biggest gold mining deal ever is good for acquirer Newmont Mining Corp., but the CEO of the target company could end up millions of dollars richer. David Garofalo is eligible to collect at least $6.9 million, including as much as $4.6 million in severance and $464,000 in… Read More
Mark Bristow’s tenure as boss of the world’s biggest gold miner might have been short-lived, but his message for smaller rivals just got even more pointed. “Holy camoly, I missed out on a great opportunity!” is how Bristow described anyone not involved in Barrick Gold Corp.’s purchase of Randgold Resources Ltd. in September. With Newmont… Read More
Canada’s influence on the global mining industry appears to be shrinking by the day. Perhaps stung by the nationalistic backlash against Barrick Gold Corp.’s merger with Randgold Resources Ltd., Newmont Mining Corp. devoted a big chunk of its news release Monday explaining how its $10 billion offer for Vancouver-based Goldcorp Inc. will help Canada. “Munk… Read More
Regional heads of state backed a call by Democratic Republic of Congo opposition leader Martin Fayulu for a recount of last month’s presidential election, as the country’s Constitutional Court prepared to consider his challenge against the result. Opposition leader Felix Tshisekedi was declared the surprise winner of the Dec. 30 poll. If the Constitutional Court… Read More
JOHANNESBURG – South Africa’s Association of Mineworkers and Construction Union (AMCU) is planning to strike at Sibanye-Stillwater’s local platinum operations, it said on Monday, expanding an earlier stoppage affecting its gold facilities. Since the union downed tools at Sibanye’s gold operations in mid-November, four employees have been killed during strike-related violence and the firm has… Read More
OSLO – Resource-rich Argentina is expected to join the international transparency standard for managing oil, gas and mineral resources, the Extractive Industries Transparency Initiative (EITI) said on Monday, which could make it more attractive for investors. The global initiative, launched by Britain’s former prime minister Tony Blair in 2002, requires member countries to disclose how… Read More