Solgold CEO, Nick MatherSolGold [SOLG-TSX, LSE] said Thursday it is planning to make an offer to acquire all the outstanding shares of Cornerstone Capital Resources Inc. [CGP-TSX, CTNXF-OTC, GWN-F].If the offer succeeds, holders of Cornerstone who tender their shares to the offer will receive 0.55 of a SolGold share in exchange for every Cornerstone share tendered, SolGold said.However, readers of...Read More
Diamond drilling on the Moosehead gold project in central Newfoundland. Source: Sokoman Iron Corp.Sokoman Iron Corp. [SIC-TSXV] emerged as the volume leader on the TSX Venture Exchange Thursday after the company released final assays from phase two drilling on the Moosehead Gold Project in north-central Newfoundland.However, investors reacted to those results by sending the shares down 38% or $0.0...Read More
Choco 10 MineRusoro Mining Ltd. [RML-TSXV] shares tumbled in heavy trading Wednesday following news of an unfavourable court decision related to a US$1.2 billion arbitration award that followed the expropriation of mining properties in Venezuela.Rusoro said the Paris Court of Appeals, in a decision dated January 29, 2019, has partially annulled the arbitral award issued in favour of the company in...Read More
Vale SA, the world’s largest iron ore miner, has vowed to sacrifice production for safety to avoid another tailings dam failure. (Image: Screenshot from BBC News video.)Analysts have begun to weigh the consequences of a deadly tailings dam breach at a Brazilian mine operated by Vale SA [VALE-NYSE], the world's largest producer of iron ore and nickel.The Brumadinho dam breach, which occurred...Read More
They say it'll generate $3.1 billion a year in sales.I think it'll be more.According to the comptroller of New York, cannabis sales in the Empire State will exceed $3 billion a year after the legalization of recreational cannabis.And if you haven't been paying attention, New York is on the cusp of legalization.During his inaugural address, Governor Andrew Cuomo pledged to legalize cannabis. He eve...Read More
Golden Rim Resources Limited (ASX: GMR), is an emerging West African gold developer, focused on its near term Kouri Gold Project, located in north-east Burkina Faso. The Kouri Gold Project contains 1.4Moz in defined Mineral Resources, with significant upside potential to grow. We learned from Craig Mackay, Managing Director of Golden Rim Resources, that they are in the process of acquiring more la...Read More
Lumina Gold (TSXV: LUM; US-OTC: LMGDF) has announced new drill results from the Gran Bestia zone at its Cagrejos gold project in Ecuador that, along with drilling by the property's previous owner, confirm a second deposit that could substantially increase the project's scale."It's early days here right now, but we're pretty optimistic about what we're seeing so far mineralization-wise," Lumina pre...Read More
Potential liabilities from the collapse of a tailings dam at Vale's Feijao iron ore mine in Brazil that has left at least 99 people dead and another 250 people missing has resulted in Moody's Investors Service placing the company's senior unsecured ratings on review for downgrade, along with the ratings on debt issues of Vale Overseas Ltd. and the senior unsecured ratings of Vale Canada Ltd."Altho...Read More
RCR called in administrators in November last year after its lenders refused the company more money to service contracts. It collapsed owing creditors more than $500 million.NRW doubled its revenue in FY18 to more than $750 million, and posted a net profit of $42 million (up nearly 50% year-on-year), on the back of its successful acquisition of Queensland mining and civil contractor Golding in Sep...Read More
After a two-year survey involving over 1,000 people, it was agreed the total mining area compensation payable was US$2 million, with Walkabout having negotiated for a staged payout over six months.The market was pleased with the news, with Walkabout's shares rising 4.17% Thursday to A10c (US7.27c).The company noted compensation costs were more than estimated in the definitive feasibility study, du...Read More
This episode features an in-depth interview with Andrew Swart of accounting and management consulting giant Deloitte on the topic of major trends that miners need to keep an eye on in 2019.Andrew SwartBased in Toronto, Andrew is Deloitte's Canadian Leader for Mining & Metals, and its Global Consulting Leader for Mining & Metals.Andrew emphasizes the need for miners to improve strategies regarding...Read More
Premier Gold Mines (TSX: PG; US-OTC: PIRGF) expects two new mines will come online over the next 12 to 18 months in Nevada at its South Arturo project, a 40%-owned joint venture with Barrick Gold (TSX: ABX; NYSE: GOLD).Production from South Arturo's phase-one open pit is expected to start sometime in early or mid-2020, while the El Nino underground mine - a down-plunge extension of the joint-ventu...Read More
On Sunday, National Security Adviser John Bolton made clear that the Trump administration is prepared to take military action should Venezuela's embattled president, Nicol??s Maduro, cross a proverbial red line."Any violence and intimidation against U.S. diplomatic personnel, Venezuela's democratic leader, Juan Guaid??, or the National Assembly itself would represent a grave assault on the rule of...Read More
Gomez, a member of the Senate commission for mining and regional development, criticised the laxity and flexibility of the state that means it does not hold mining companies and explorers to accountRead More
"Should Lena Gold-Mining Public Joint Stock Company Lenzoloto's (MCX:LNZL) Weak Investment Returns Worry You? https://t.co/H9OmdPOdtL"Read full newsRead More
Geopolitical tensions and an expected pause in interest rate hikes have investors turning to gold, pushing it past US$1,300 per ounce.Read full newsRead More
By: Craig HemkeAn improving technical picture can be a key driver of the institutional fund flows that will be necessary to drive COMEX gold and the mining shares upward in the weeks ahead.However, let's make one thing perfectly clear before we go any further...I understand that the price of COMEX gold and silver is managed and manipulated by The Bullion Banks.You likely understand this, too.How...Read More
As part of Merk's in-house research we regularly evaluate a consistent set of charts covering the economy, equities, fixed income, commodities and currencies. The aim is to keep our eyes open and to look through the noise of the headlines, avoiding the distractions of sensationalized click-bait. In sharing this content, we offer a cross-check to your own thinking and aim to add value to your own...Read More
By: Ira EpsteinMetals stay well bid into Wednesday's FOMC Monetary Policy Statement and Press Conference Ira Epstein reviews the days trading in the metal markets. For more information and access to Ira's free offers for commodity traders, visit https://www.iraepstein.com. Read More
MODEST INCREASE IN THE GOLD PRICE BUT WIDE SPREADS "Bulls to the left of me, bears to the right, here I am, stuck in the middle with you..." There's no real consensus among analysts about the direction and price of gold in this year's survey. While the average of all forecasts suggest a modest 1.8% gain for gold, this figure is somewhat overshadowed by a $325 trading range. While gold is appare...Read More