Galway Metals (TSXV: GWM; US-OTC: GAYMF) is suspending drilling temporarily at its flagship Clarence Stream gold project in New Brunswick and also at its Estrades polymetallic project in Quebec due to "prevailingly weak market conditions for exploration companies," and said it is making the move to "conserve capital".The decision follows Galway's decision to cut its fleet of drills at Clarence Str...Read More
West African Resources (ASX: WAF) acquired 90% of the Kiaka gold project in Burkina Faso from B2Gold (TSX: BTO; NYSE-AM: BTG) in November 2021 and says it plans to start major works in early 2023 with the first gold pour forecast for 2025.Once in production, Kiaka will be the Australian company's second gold mine, after pouring first gold at its Sanbrado gold mine, 90 km east-southeast of the capi...Read More
Ring of Fire Metals (formerly Noront Resources) and Webequie First Nation have signed a memorandum of understanding (MOU) outlining a framework for collaboration on proposed development in northern Ontario.Wyloo Metals earlier in the year acquired Noront Resources and its mining assets in Ontario's emerging metals camp known as the Ring of Fire, and chose Ring of Fire Metals as the new name for...Read More
Infill drilling from the underground portion of the El Domo volcanogenic massive sulphide deposit in central Ecuador returned 9.46 metres of 7.49% copper, 2.37 grams gold per tonne, 2.93% zinc, 75.4 grams silver and 0.01% for a copper-equivalent grade of 8.83%, owners Adventus Mining (TSXV: ADZN; US-OTC: ADVZF) and Salazar Resources (TSXV: SRL; US-OTC: SRLZF) reported Wednesday.The deposit, part o...Read More
Roscan Gold (TSXV: ROS; US-OTC: RCGCF) has announced assay results from the Kabaya KB3 target on its Kandiol?(C) gold project in Mali, 400 km from the country's capital of Bamako and 25 km east of B2Gold's (TSX: BTO; NYSE: BTG) Fekola mine.The results span 18 holes totaling 2,220 metres and highlights include hole RCDBS22?EUR?0119, which intersected 3.09 grams gold per tonne over 12 metres from 11...Read More
"Challenging market conditions" have forced Trafigura to put its Auby smelter in France on care and maintenance.Netherlands-based Nyrstar, which is majority owned by Trafigura, reported the closure on Dec. 6, but did not elaborate on the decision or disclose when the smelter might restart.The facility, located in the town of Auby, 35 km south of the city of Lille, is a mid-scale electrolytic zinc...Read More
Equinox Gold (TSX: EQX; NYSE-AM: EQX) has sold 11 million common shares in Solaris Resources (TSX: SLS) for aggregate gross proceeds of $70.4 million, cutting its ownership to less than 10% of the Ecuador-focused junior explorer's issued and common outstanding shares.Equinox had previously owned 15.545 million common shares and warrants, entitling it to purchase 7.5 million common shares represent...Read More
US fertilizer producer Mosaic (NYSE: MOS) has temporarily cut production at its Colonsay potash mine in Saskatchewan, Canada, due to slower-than-expected demand.Prior to the curtailment, Colonsay had been operating at a yearly run rate of 1.3 million tonnes and Mosaic had plans to expand output to between 1.8 million and 2 million tonnes by late 2023.The company's move contrasts with the position...Read More
This week's podcast features Agnico Eagle Mines executive chair Sean Boyd in an interview with Northern Miner Group president Anthony Vaccaro at the Canadian Mining Symposium in London, England. Sean explains the philosophy behind Agnico's 'slow and steady' strategy, despite recent acquisitions, as well as the ongoing benefits of maintaining the trust of employees, and how the company has managed...Read More
Kodiak Copper (TSXV: KDK; US-OTC: KDKCF) has made new high-grade gold-silver discovery from trenching at its 100% owned MPD copper-gold porphyry project in southern British Columbia. The discovery was made on surface within the Beyer Zone, where the company previously reported a surface sample that assayed 14.15 grams gold per tonne and 9.4 grams silver.Trench sampling has now expanded this new su...Read More
Probe Metals (TSXV: PRB) and Midland Exploration (TSXV: MD) have announced a new copper-gold-silver-molybdenum discovery at the La Peltrie project in Quebec's Detour Lake region, with hole LAP-22-012 drilling 345 metres of 0.2% copper equivalent from near surface.The wide zone is open laterally and at depth at La Peltrie, which Probe holds in a joint venture with Midland.Shorter highlight interva...Read More
Eldorado Gold (TSX: ELD; Nasdaq: ELD) has reported a 7% year-on-year drop in the reserve base underpinning its four operating mines in Turkey, Greece and Canada to 7.4 million oz. gold, following a 6% drop last year, the company announced after market close on Monday.Eldorado reported fewer reserves at each of its operating mines, with a 9% dip in grade at the Lamaque mine in Quebec to 6.6 grams g...Read More
Diversified miner Teck Resources (TSX: TECK.B, TECLK.A) temporarily closed the Highland Valley copper mine's Valley pit on Monday.Teck said in a brief news release the closure was a proactive measure in response to a geotechnical instability within the pit.Teck said the Valley Pit would reopen after remediation, and the area was confirmed safe.The company said there is no risk to worker safety, no...Read More
K92 Mining (TSX: KNT; US-OTC: KNTNF) announced on Tuesday two major developments for its Kainantu gold-copper-silver mine in Papua New Guinea, the first being an extension of the mine lease by 10 years to June 2034, followed by the board's approval for the mine's Stage 3 and 4 expansions.The staged expansions would increase Kainantu's annual processing throughput to 1.2 million tonnes per year and...Read More
Argonaut Gold (TSX: AR) has inked a deal with Heliostar Metals (TSXV: HSTR) to sell its Ana Paula gold project in Guerrero state, Mexico for US$30 million in cash and shares. The announcement comes 20 months after a planned sale of the asset to AP Mining fell through in April 2021.Under the agreement, Heliostar will pay US$10 million upfront; US$5 million in shares upon renewing the open-pit minin...Read More
Two years ago, in this column, I reminded readers of The Northern Miner that the mining industry has a patron saint, Barbara, whose feast day (Dec. 4) is observed by miners and tunnellers around the world, especially in continental Europe.You might recall that Saint Barbara was an early Christian martyr, with accounts placing her in third century Nicomedia (in present-day Turkey) or in Heliopolis...Read More
Back in 2015, about a year after Russia annexed Crimea, Russian hackers wrested control of Ukraine's power grid and cut off electricity at three different companies.Some 30 substations were switched off, and about 230,000 people were left without electricity for up to six hours.They didn't have lights or, in many cases, heat.Being left without heat in the dead of winter isn't just an inconvenience...Read More
Share this article TORONTO - Infinity Stone Ventures Corp. [GEMS-CSE; GEMSF-OTC; B21-FSE] has completed its fall drill program on the 100%-owned Rockstone graphite project located near Thunder Bay, northwestern Ontario.The company completed drilling of four holes, RS-22-01, RS-22-02, RS-22-03 and RS-22-04, totalling 800 metres. The initial goal of the fall drill program was to confirm the initial...Read More
Of all the nightmarish tales German parents tell their children at night, the curse of the Dunkelflaute may be the most frightening.Never heard of it? You're not alone. Truth is, I'd bet most people outside of a meteorology department have never even heard of the term before. And the Dunkelflaute is far scarier than my grandmother's fantastical myths about Baba Jaga creeping outside my wind...Read More
Wall Street Silver, Released on 12/9/22Egon von Greyerz joins us to discuss the main reason for the chaos we are living in now. The federal reserve has been printing money like crazy, resulting in a severe economic decline and inflation. Furthermore, we talk about Credit Suisse, Russia and Ukraine war, and more.Egon von Greyerz is founder and Managing Partner of Matterhorn Asset Management AG & Go...Read More