Oct 11 (Reuters) - Australia's Fortescue Metals Group on Thursday announced a share buyback program of up to A$500 million ($353.0 million), joining bigger rival Rio Tinto as the trend of handing back cash to shareholders sweeps the mining industry.The program will begin after the iron ore miner releases its quarterly report on Oct. 25 and will remain in place for a period of up to 12 months.The b...Read More
MELBOURNE/LONDON, Oct 11 (Reuters) - Australia-listed tungsten producer Wolf Minerals said on Thursday that it could not meet its short-term working capital needs after failing to reach a deal with its financial backers, and as a result its British unit would cease to trade.The ASX-listed miner has appointed Australia-based Ferrier Hodgson as a voluntary administrator, it said in a filing on Thurs...Read More
KERIO VALLEY, Kenya, Oct 11 (Thomson Reuters Foundation) - Nathaniel Tumo was astounded when an excavator arrived at his farm in western Kenya four years ago and started digging for minerals, almost bringing down his house."They started blasting a few metres away and the stones fell on my house," said Tumo, 62, his breath laboured from living alongside the open pit, with its dust, noise and fallin...Read More
"CEO of the beverage giant behind #Corona: #Cannabis is one of the 'most significant' growth opportunities of the next decade https://t.co/s37heTAnlC via @"Read full newsRead More
Gold producers show gainsRead full newsRead More
A Canadian company focused on develop mining technologies and robotics for the resource sector is partnering with Moon Express, the first American private space exploration firm to have been granted government permission to travel beyond Earth's orbit, on future opportunities in outer space.Northern Ontario-based Deltion Innovations will help Florida-based Moon Express collect, process, store a...Read More
Vancouver, BC - FinCanna Capital Corp. (CSE:CALI) (OTCQB:FNNZF) (the "Company" or "FinCanna") a royalty company for the U.S. licensed medical cannabis industry, announces that its investee company ezGreen Compliance ("ezGreen") which provides a state-of-the-art enterprise compliance and point-of-sale (POS) software solution for licensed medical cannabis dispensaries and cultivators, has expande...Read More
Canada's Leagold Mining (TSX:LMC) has had to temporarily shut down its Riacho dos Machados (RDM) mine in Brazil as a result of continued drought conditions in the country's Minas Gerais State.The Vancouver-based miner said it planned to resume operations in early December, with the commissioning of the grid powerline project.RDM was closed in August last year and restarted, on an intermittent basi...Read More
Canada's Leagold Mining (TSX:LMC) has had to temporarily shut down its Riacho dos Machados (RDM) mine in Brazil as a result of continued drought conditions in the country's Minas Gerais State.The Vancouver-based miner said it planned to resume operations in early December, with the commissioning of the grid powerline project.RDM was closed in August last year and restarted, on an intermittent basi...Read More
Since slipping to a multi-year low of just over US$14 an ounce last month, silver remains weak. Even after rallying 3% over the last month, silver is still down by 15% for the last year. This is weighing heavily on the performance of many silver miners, dragging the Global X Silver Miners ETF down by a whopping 26%.Even primary silver miners with high-quality assets and strong balance sheets are s...Read More
Gold's latest weakness, which sees the yellow metal down by 8% over the last year, has caused the market to punish gold mining stocks and force the VanEck Vectors Gold Miners ETF down by a whopping 20% over that period. Some precious metals miners and streamers such as Osisko Gold Royalties (TSX:OR)(NYSE:OR) have been hit even harder. Its stock has plummeted by over 38%, as rumours swirl that the...Read More
Choco 10 MineRusoro Mining Ltd. [RML-TSXV] rallied on heavy volume Thursday October 11 after the company said it has agreed to a settlement proposal with the Bolivarian Republic of Venezuela, by which Venezuela agreed to pay Rusoro over US$1.28 billion to acquire the company's mining data and for full release of the arbitral award issued in favour of the company in August, 2016.The arbitral award...Read More
The Gladitaor gold deposit in the Urban-Barry Camp of northwestern Quebec. Source: BonTerra Resources Inc.When Bonterra Resources Inc. [BTR-TSXV; BONXF-OTC; 9BR1-FSE] recently snapped up Metanor Resources Inc. in a $78 million deal, the plan was to create a new gold exploration and development company with a focus on Quebec's Urban Barry mining camp.By attaining control of three advanced high-grad...Read More
Capstone Mining's mill at the Minto copper mine in the Yukon which has been placed on care and maintenance. Source: Capstone Mining Corp.Capstone Mining Corp. [CS-TSX said Thursday it is terminating a deal to sell its Minto Mine in the Canadian Yukon to Pembridge Resources Plc. [PERE-LON]. Capstone also said it is immediately putting the mine on care and maintenance while it waits for copper and e...Read More
The Canadian government says it will impose a 25 per cent surtax on some foreign steel products in a bid to head off dumping.The Finance Department said "excessive imports" are harming the steel industry, prompting it to impose a surtax on seven products that range from rebar to wire rods.The surtax, which begins Oct. 25, will be in place for 200 days, pending an inquiry by the Canadian Interna...Read More
WASHINGTON - President Donald Trump on Thursday escalated his attack on the Federal Reserve's interest rate increases, asserting that "the Fed is out of control" and blaming it for this week's plunge in stock prices."It's a correction that I think is caused by the Federal Reserve with interest rates," Trump said when asked by reporters in the Oval Office about the stock market swoon.He added, "We...Read More
VANCOUVER - A Vancouver-based mining company says soft copper and equity markets have combined to undermine the sale of its property in central Yukon, so it plans to shut the Minto Mine until a better opportunity is found.Capstone Mining Corp. says in a release that Pembridge Resources has been unable to arrange financing to purchase the copper mine, and the two companies have terminated the ag...Read More
Today I've decided to avoid the lengthy introductions and cut right to the chase.If you're a regular reader of these pages, you've been listening to me sing the praises of the cannabis market for nearly four years now.You've listened to me bitch and moan about the prohibition of cannabis.You've watched videos of me speaking to large groups of investors about why every single person should have som...Read More
Nevada Copper Corp. (TSX: NCU) is focused on the near-term commencement of copper production at the Pumpkin Hollow copper project near Reno, Nevada in the Yerington District. There are two fully-permitted adjacent projects at Pumpkin Hollow: the high-grade underground project, which is in construction. Initial production is planned by the end of 2019, and the open pit project, a large-scale copper...Read More
October 11, 2018 - Brixton Metals Corporation (TSXV: BBB) (the "Company" or "Brixton") is pleased to announce it has successfully completed the acceleration (the "Acceleration") of 7,250,000 share purchase warrants (the "Warrants") issued pursuant to a private placement of units that closed in April 2016. On completion of the Acceleration, 4,044,000 Warrants were exercised (of which 1,340,000 Warr...Read More