News and Reports

An Overview of Quebec Gold Mining

April 2020

In this report we outline the Quebec gold mining industry, including its major producers, and a survey of many of the junior miners focused on the province. Quebec accounts for 34% of Canadian gold production (second to Ontario, with 44%) and remains a major focus for both producers and junior miners.Read More

An Overview of the Red Lake Mining District

January, 2020

Red Lake has been one of the most prolific gold mining districts in Canada and the world, with exploration having started in the 1920s, and production, which began in the 1930s, continuing to the present day. The district is known for the high grade of its gold, its infrastructure, and strong institutional support, given the long history of mining in the area.Read More

Stornoway announces new microdiamond results from the Aviat project, Nunavut

March 08, 2011 / www.mining.com

Stornoway Diamond Corporation and Hunter Exploration Group have provided new microdiamond results from the AV9 kimberlite and the relatedEastern Sheet Complex at the Aviat Project, located on the Melville Peninsula ofNunavut.The 90% owned Aviat Project is Stornoway's key pipeline project after thebankable feasibility stage Renard Diamond Project located in north-centralQuebec.The new results repor...Read More

BioteQ commences legal action against NWM Mining for unpaid lease

March 08, 2011 / www.mining.com

BioteQ Environmental Technologies Inc., a leader in the treatment of industrial waste water, announced that it has commenced a legal action against NWM Mining Corporation. It's filed a Notice of Civil Claim with the Supreme Court of British Columbia. BioteQ seeks monetary damages for NWM's breach of a Termination, Consolidation and Reconciliation Agreement ("TCRA") between the companies dated June...Read More

Forum and Mega Option the Maurice Bay Uranium Deposit From Cameco

March 08, 2011 / www.mining.com

Forum Uranium Corp. (TSX VENTURE:FDC) is pleased to announce that the Company has entered into an option agreement with Cameco Corporation whereby Forum and Mega Uranium Ltd. may jointly earn a 60% interest in the 98 square kilometer North West Athabasca project, including the historical 1.5 million pound Maurice Bay uranium deposit in the Western Athabasca Basin. Maurice Bay Project HighlightsThe...Read More

Pan Orient announces closing of Can$45 million bought-deal financing

March 08, 2011 / www.mining.com

Pan Orient Energy Corp. (TSX VENTURE:POE), ("Pan Orient" or "the Company"), is very pleased to announce it has completed its previously announced bought deal financing of 6,870,240 common shares of the Company (the "Common Shares") at a price of $6.55 per Common Share for gross proceeds of $45,000,072 on a private placement basis (the "Offering"). The syndicate of underwriters was co-led by Raymon...Read More

The driver for gold you're not watching

March 08, 2011 / www.mining.com

You already know the basic reasons for owning gold - currency protection,inflation hedge, store of value, calamity insurance - many of which are becomingclichs even in mainstream articles. Throw in the supply and demand imbalance,and you've got the basic arguments for why one should hold gold for theforeseeable future.All of these factors remain very bullish, in spite of gold's 450% rise overthe p...Read More

Bifurcation in Precious Metals Complex and the Implications

March 08, 2011 / www.mining.com

Silver has been red hot lately and the silver shares have joined in the fun.Yet, we haven't seen a corresponding breakout in Gold or in the gold shares (asevidenced by GDXJ and GDX). In the chart below we show SIL (large silverstocks), Silver, Gold, GDXJ (gold juniors) and GDX (large cap golds).Silver has been the clear winner as it broke out first while the large andjunior silver shares would bre...Read More

Alaska Pacific Energy plans strategic move into mining

March 08, 2011 / www.mining.com

Alaska Pacific Energy continues to look for ways to expand its presence in the mining sector by talking to companies interested in pursuing joint ventures or a full amalgamation of interests.The company is in the process of making fundamental changes to its core business; it has already bought an existing Tanzanian property located in an established mining zone.Management is now involved in discu...Read More

Malaysia hopes to make in-roads in the rare earth market

March 08, 2011 / www.mining.com

New York Times says that Malaysia is placing a big bet on rare earth metals:As many as 2,500 construction workers will soon be racing to finish the world's largest refinery for so-called rare earth metals - the first rare earth ore processing plant to be built outside China in nearly three decades.For Malaysia and the world's most advanced technology companies, the plant is a gamble that the proce...Read More

Uranium One announces net loss of 142.8 million in fourth quarter

March 08, 2011 / www.mining.com

Uranium One, the world's largest publicly-traded uranium producer, reported on Tuesday a net loss of $142.8 million in the fourth quarter. In 2009 the company reported positive earnings of $179.8 million for the same period.The loss was attributable to a one-time charges. The company said that the carrying value of the Honeymoon Uranium Project was written down by $113.5 million due to the streng...Read More

Detour Gold Commences Drilling Program at Conquest's Sunday Lake Property

March 08, 2011 / www.mining.com

Conquest Resources Limited (TSX VENTURE:CQR) is pleased to report that Detour Gold Corporation ("Detour Gold") has commenced a 2,000-metre diamond drilling program at Conquest's Sunday Lake Property, which is currently under joint venture option to Detour Gold.A total of 10 exploration drill holes are planned from five prioritized drill target areas defined by Detour Gold by their recently complet...Read More

Spirit Resources SARL advises of intention to acquire additional Diamond Fields shares

March 08, 2011 / www.mining.com

Diamond Fields International Ltd. (TSX: DFI) ("DFI" or the "Company") has been advised by Spirit Resources Sarl ("Spirit") that it intends to acquire additional shares of the Company through an ordinary course purchase program for up to additional 5% share of DFI from time to time, over the next twelve months. Spirit is a privately held investment company, controlled by Jean-Raymond Boulle. Spirit...Read More

Franconia Minerals Shareholders Approve Arrangement With Duluth Metals

March 08, 2011 / www.mining.com

Duluth Metals Limited ("Duluth") (TSX:DM)(TSX:DM.U) and Franconia Minerals Corporation ("Franconia") (TSX:FRA) are pleased to announce that Franconia shareholders have approved the previously announced plan of arrangement involving Duluth and Franconia (the "Arrangement").At the special meeting of Franconia shareholders held earlier today, the Arrangement was approved by 88% of the votes cast by s...Read More

Schmidt's gold thoughts

March 07, 2011 / www.mining.com

Kenny Rogers may not be widely known as a great philosopher, but one of his legendary songs carried a message well worth knowing. It goes, "Know when to hold them, and know when to fold them." Last week in the game of world monetary poker, the ECB raised the limit. Now the Federal Reserve will have to demonstrate it has what it takes to play poker with the big boys. Question is not if it will fold...Read More

Gold and silver's daily review

March 07, 2011 / www.mining.com

Friday was a lackluster day until almost the end of the day. Through the weekend and on Asia's Monday we saw gold take off. The afternoon Fix on Friday afternoon was at $1427 after the morning Fix of $1,418.00. In the euro the gold price's upward move reflected the weakness of the dollar and was Fixed in the morning at 1,014.74 and in the afternoon at 1,019.29. The dollar gave up its suppor...Read More

Heavy hitters talk about the virtues of gold

March 07, 2011 / www.mining.com

It was a strong week for the precious metals especially Silver. We had a few large players in the world talk about Gold and the coming further weakness of the US Dollar and it's lessening role throughout the world.All in all it was a great, constructive week. Metals did well and the US markets continued their consolidation before the next leg higher within a week or two. The S&P target of 1,440...Read More

Inmet, Lundin shareholders given two more weeks to review Equinox bid

March 07, 2011 / www.mining.com

Shareholders of Lundin Mining Corp. and Inmet Mining Corp. will have two more weeks before they are asked to vote on a friendly merger of the two entities. Canadian Press said the posptponement of the shareholder meetings, from March 14 to March 28, was decided on the weekend after a hostile takeover bid was announced last week by Equinox Minerals:The reason for the postponement is to allow time f...Read More

PotashCorp's Allan mine in expansion mode

March 06, 2011 / www.mining.com

The increase in the demand for potash, along with higher prices, is fuelling an expansion of PotashCorp's Allan mine in Saskatchewan, The Star Phoenix reports. The $550 million expansion began in 2009 and is expected to push production at the site from two million to three million tonnes per year by 2012:"Over the last two decades the potash industry has been fairlystable, it had plateaued,"said L...Read More

Inmet Mining down 7% after Panama government announces law repeal

March 05, 2011 / www.mining.com

Inmet Mining (TSE:IMN) was down 7.41% to Can$64 on Friday after the Government of Panama announced that it will repeal recently enacted legislation, known as Law 8, that modifies the Panamanian mineral resources code.The price drop complicates the company's proposed merger with Lundin Mining. In Jan. 2011, Inmet and Lundin Mining announced a merger that would create Canada's largest base metal pro...Read More

Gold Stocks in SPX Selloffs

March 04, 2011 / www.mining.com

With the general stock markets now due for a selloff while gold hits new nominal all-time highs, precious-metals-stock traders face something of a quandary. How are their stocks likely to perform in the near future? Will they ignore general-stock weakness to rally with gold? Will they get sucked into a stock-market selloff even if gold remains strong?There is no doubt that gold is the primary d...Read More

Peregrine completes Can$8.4 million private placement

March 04, 2011 / www.mining.com

Peregrine Diamonds Ltd. ("Peregrine") (TSX:PGD) is pleased to announce the completion of a non-brokered private placement of 3,000,000 common shares at a price of $2.80 per share for proceeds of $8.4 million (the "Private Placement"). The common shares issued under the Private Placement were sold on a "flow-through" basis pursuant to the Income Tax Act (Canada) and purchased by institutional inves...Read More