South Africa's Gold Fields (JSE, NYSE: GFI) and Canada's Asanko Gold (TSX: AKG) are teaming up to develop one of Ghana's newest gold mine, the Asanko Gold Mine (AGM), is located in the country's Ashanti Region.As part of the deal, Gold Fields is acquiring a 50% stake in Asanko's local subsidiary, which gives it a 90% ownership in AGM, for a total of $203 million. The Vancouver-based firm is also g...Read More
Salt Lake City, Utah: 28 March 2018 - Boart Longyear announces it is adding new exploration drill rigs to its Drilling Services fleet around the world to meet the demand of expanding exploration budgets.Latin AmericaIn Chile, a brand new LF?,,?160 top-drive coring rig is being added to a current customer project where two LF160 rigs are already working onsite. The LF160 rig paired with the FL262 F...Read More
Former Export Development Canada senior manager Amelie St-Onge has joined leading privately-owned international mining software company Micromine as its Canada regional manager, based in Vancouver.Staff reporter29 MARCH 201829/03/2018commentsshareSt-Onge, who has a Queen's University MBA, spent the past nine years with Export Development Canada, most recently leading development of EDC's relations...Read More
Mining contractor Watpac (ASX: WTP) is considering an exit from mining as failure to secure new work hampers its expected full-year results.Staff reporterWatpac weighs mining exit29 MARCH 201829/03/2018commentsshare The company said this week that due to the disappointing performance of its mining business and the impact of legacy residential projects, it expected to post a full-year underlying ne...Read More
Salt Lake City-headquartered Boart Longyear said this week it had added a handful of new drill rigs to a global fleet that shrunk last year by 19%. The penny stock that continues to trade on the ASX (BLY) after last year's massive debt-for-equity debt restructuring says "expanding exploration budgets" have spurred rig purchases in the Americas and Africa.Staff reporter Boart Longyear has added a h...Read More
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:by Stockwatch Business ReporterNew York spot gold fell $20.10 to $1,324.40 on Wednesday. The TSX Venture Exchange fell 18.61 points to 784.22 while the TSX Gold Index fell 3.55 points to 184.04. Most Canadian gold miners lost ground today, some taking a big hit. Pre...Read More
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:by Will PurcellThe diamond and specialty minerals stocks box score for Wednesday was a bleak 53-108-129. The TSX Venture Exchange fell 18 points to 784 while polished diamond prices inched higher. Dr. Stewart Blusson's Archon Minerals Ltd. (ACS) jumped 28 cents to $...Read More
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:by Stockwatch Business Reporter West Texas Intermediate crude for May delivery lost 87 cents to $64.38 on the New York Merc, while Brent for May lost 58 cents to $69.53 (all figures in this para U.S.). Western Canadian Select traded at a discount of $23.40 to WTI ($...Read More
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:by Stockwatch Business ReporterThe TSX Venture Exchange dropped 18.61 points to 784.22 Wednesday.Zula Kropivnitski's halted Spirit Bear Capital Corp. (SBG: $0.29) has firmed up plans to acquire FinX Solutions Inc. as its qualifying transaction. Spirit Bear, with 9.4...Read More
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:by Mike CaswellThe Investment Industry Regulatory Organization of Canada has imposed a six-month ban and $55,000 in financial penalties on Steven Fred Bodon, a brokerage employee of 31 years. The regulator said that Mr. Bodon inflicted substantial losses in the acco...Read More
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:by Mike CaswellBrian Robert Sodi, the Florida stock tout also known as the "Mailman," has pleaded not guilty to charges he faces for a $1.1-million OTC Markets scheme. (All figures are in U.S. dollars.) Mr. Sodi, 46, entered the plea in an appearance on Monday, Marc...Read More
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:by Stockwatch Business Reporter West Texas Intermediate crude for May delivery fell 30 cents to $65.25 on the New York Merc, while Brent for May lost one cent to $70.11 (all figures in this para U.S.). Western Canadian Select traded at a discount of $23.40 to WTI ($...Read More
Edmonton-based Grizzly Discoveries announced its intentions to purchase the cobalt-copper-silver "Robocop Property," located within the Fort Steele Mining District in southeastern British Columbia.In detail, the property is located east of the company's Greenwood property or approximately 45 kilometres south of the town of Fernie, immediately north of the Canada-US border. Robocop is comprised of...Read More
Melanie and Peter MunkWith great sadness, Barrick Gold founder Peter Munk passed away today. Last Spring I wrote a lengthy essay on who should be included in a historic Top Ten List of Canadian Mining Men. Peter Munk made the number one spot. Here is why. – Stan Sudol1) Peter Munk – Canada's Godfather of Gold (Barrick Gold)In November 2005, Peter Munk launched a takeover bid of histor...Read More
Gold is back above US$1,350 per ounce, yet many of the producers continue to linger near their 12-month lows.Let's take a look at the current situation to see whether this is the right time to add the miners to your portfolio.Fear tradeGold recently surged from US$1,310 to US$1,355 on fears that a global trade war is about to erupt.What's going on?U.S. President Donald Trump is threatening to slap...Read More
The spot price of gold and silver fell over 1% on March 28, as revised Q4 GDP numbers in the U.S. pushed up growth to 2.9%.The S&P/TSX Index extended its losing streak with a 46-point drop on March 28. Indexes in the United States experienced a volatile trading day that ended with the Dow Jones Industrial Average up triple digits but with the S&P 500 and NASDAQ finishing in the red. Ahead...Read More
Gold remains firm as fears of a market correction mount after the recent collapse of FANG stocks on the NASDAQ, which has driven the broader market lower. The carnage has not been restricted to the NASDQ, but has spilled over into the broader market to see the Dow Jones Industrial Average down by 4% over the last month. The fallout has spread to international markets, pushing the S&P/TSX Compo...Read More
Bouncing between base metal supply dynamics and precious metal demand themes, silver sometimes has a tough time of finding its own way and continues to frustrate analysts.BMO sees the still-growing solar industry as a demand driver for silver29 MARCH 201829/03/2018commentsshare The most important marker right now is the silver to gold ounce ratio.Read More
Velocity Minerals (VLC.V) has released an updated resource estimate during the PDAC conference in March. This resource estimate contains an updated calculation of the inferred resources on the Rozina gold project in Bulgaria. Using a cutoff grade of 0.5 g/t, the deposit contains 17 million tonnes at 1.15 g/t for a total resource of 629,000 ounces. If you' apply a higher cutoff grade of 0.8 g/t, yo...Read More
Allegiant Gold (AUAU.V) is kicking its Eastside exploration program in a higher gear after meeting the expectations on the western portion of the gold deposit. As you might remember, pretty much the entire western zone of Eastside was classified as 'waste' within the pit shell. Not because the rock didn't carry any gold, but because virtually no exploration or drilling was conducted on that part o...Read More