Evolution to buy Carnaby in $149M copper-gold deal
Evolution Mining (ASX: EVN) agreed to buy Carnaby Resources (ASX: CNB) in an all-stock deal valued at about A$213 million (US$149 million) that would give the Australian gold producer a…
Financial Matters, M&A
Agnico bets $60M more on stake in Lassonde-backed Cadillac in Abitibi
Agnico Eagle Mines (TSX: AEM; NYSE: AEM) is paying $60 million (US$43 million) for an additional stake in soon-to-be-listed Cadillac Mines (TSX: CADY) as Canada’s biggest miner strengthens its position…
Equinox-Orla get OK to create No. 2 Canada gold miner
Equinox Gold (TSX: EQX) (NYSE: EQX) and Orla Mining (TSX: OLA) (NYSE: ORLA) have secured shareholder approval for their $18.5 billion merger, creating Canada’s second-largest gold producer with expected annual…
Ex-De Beers chief leads bid for diamond giant
Anglo American (LSE: AAL) has selected a consortium led by former De Beers chief executive Gareth Penny as the preferred bidder to acquire its diamond business, according to Botswana’s government….
London Gold offers $25M for Bolivia-focused Bocana
Privately held London Gold LLC is moving towards a $25 million (C$35 million) cash and stock deal for Americas-focused explorer Bocana Resources (TSXV: BOCA), which holds the Escala project in…
BHP’s first port strike in 26 years rattles iron ore supply
Union action at Port Hedland raises fresh concerns over iron ore exports as wage negotiations remain deadlocked.
First Quantum explores Taca Taca stake sale: report
First Quantum Minerals (TSX: FM) is exploring the sale of a minority stake in its giant Taca Taca copper project in Argentina as the world’s largest miners and strategic investors…
De Beers idles South Africa’s top diamond mine
De Beers will suspend production at its Venetia mine, South Africa’s highest-value diamond operation, for two years as the company cuts costs and streamlines its business to withstand a prolonged…
Study values Ontario graphite mine restart at $183M
A new economic study on a potential restart of Global Battery Materials’ (GBM) Kearney graphite mine in Ontario values the project at $183 million (C$260 million) and pegs future cash flow…
Ottawa invests up to $400M in Teck’s Trail plant for germanium output
Canada’s federal government is investing a potential $400 million as part of an $850-million total investment in Teck Resources’ (TSX: TECK.A, TECK.B; NYSE: TECK) Trail processing facility in British Columbia…
GoldStone surges as Hong Kong miner takes 21% stake
GoldStone Resources (AIM: GRL) shares jumped on Monday after the Ghana-focused gold developer secured a £3.51 million ($4.6 million) strategic investment from Hong Kong-listed Persistence Gold Group (HKEX: 2489) to…
Opinion: Why generalist investors avoid gold stocks
Gold is trading near all-time highs. Producers are carrying the strongest balance sheets they’ve had in a generation. Margins are at record levels, free cash flow is strong and management teams, by…