Oban capitalizes on downturn, buys more ground
With $70 million in cash and equivalents, Oban Mining (TSX: OBM) is quietly consolidating ground in the Abitibi by acquiring junior companies and properties in Ontario and Quebec.
Financial Matters, M&A
Turquoise Hill lands US$4.4B to go underground at Oyu Tolgoi
A group of 20 lenders have come up with US$4.4 billion in project financing for Turquoise Hill Resources (TSX: TRQ; NYSE: TRQ) to build the underground portion of its Oyu Tolgoi copper and gold mine in southern Mongolia.
Discovery Ventures lays groundwork for production at Willa in BC
VANCOUVER — Discovery Ventures (TSXV: DVN) is eager to develop its Willa gold-copper-silver deposit, located 8 km south of Silverton, southeast B.C., now that the company has secured complete ownership of the Max mine and mill complex,…
Klondex buys Rice Lake complex for US$32M
Klondex Mines (TSX: KDX; NYSE-MKT: KLDX) is buying the idled Rice Lake gold mine and mill near Bissett, Man., to complement its flagship operations in Nevada.
Fission eyes ‘landmark’ deal with China’s CGN Mining
VANCOUVER — It was a stormy 2015 for explorer Fission Uranium (TSX: FCU; US-OTC: FCUUF) marked by a failed merger, struggling uranium prices and the brief threat of a proxy battle from retail shareholders.
SilverCrest Metals aims to repeat success in Mexico
VANCOUVER — The ink has now dried on a $154-million agreement that has seen First Majestic Silver (TSX: FR; NYSE: AG) snap up and merge with SilverCrest Mines and its Santa Elena silver-gold operation in Sonora, Mexico, but president and…
Anglo American’s radical rethink
VANCOUVER — Anglo American (US-OTC: AAUKY; LSE: AAL) intends to shrink the number of its employees by 63%, suspend its dividend, and close, sell or mothball its cash-flow negative assets to adapt to deteriorating market conditions.
Major miners fuel a rising demand for streaming deals
VANCOUVER — As traditional forms of equity and debt finance become harder to obtain for mining companies, there’s been a rise in stream agreements, which offer miners access to cash for a percent of future by-product metal…
Editorial: ‘Tis the season for dividend cuts
As we all know, mining is a cyclical business, and by all appearances we are into the stage of the commodities cycle where many of the biggest, highest-quality major mining companies, especially base metal miners, are trimming and even…
West Kirkland mulls options after landing Three Hills permit
VANCOUVER — West Kirkland Mining (TSXV: WKM; US-OTC: WKLDF) has come a long way over the past year at its Three Hills and Hasbrouck gold deposits in Nevada. And with a preliminary construction permit now in hand, it is ready to assess its…
Canadian Oil Sands CEO touts investors’ ‘rich opportunity’
Canadian Oil Sands (TSX: COS) management remains on the offensive in the face of a hostile takeover bid from Suncor Energy (TSX: SU; NYSE: SU) that it calls “opportunistic and exploitive.” On Dec. 1, president and CEO Ryan Kubik…
Nordgold CEO orchestrates ‘compelling performance’
Moscow-headquartered Nordgold (LSE: NORD) counts itself as one of the best performing, lowest-cost gold producers in the industry today, and yet, curiously, few North Americans know anything about it.