Banks Island looks at Red Mountain’s short-term potential
VANCOUVER — Banks Island Gold (BOZ-V) has set out the financial potential of the Red Mountain project in northern British Columbia that it recently optioned into.
Canada
Venture down in June 11-15 period
VANCOUVER — The S&P TSX Venture Composite Index dropped 41.91 points after four days of losses outweighed one day of gains in the June 11-15 period, ending at 1,251.02 points. Volume was also down for most of the period, but a spike…
Kinross grapples with Tasiast
Unpopular mergers are behind some tough news for two of Canada’s largest gold miners.On the same day that Barrick Gold’s (ABX-T, ABX-N) top manager was ousted partly for his role in a share-price-depressing takeover,…
Market News
Toronto Stock Exchange
TSX Venture Exchange
The S&P/TSX Venture Composite Index was virtually unchanged in the period, ending up a little over a point at 1,292.93. Volume also saw little change in-line with recent weeks, at a daily average of 69 million shares traded.Aurcana was the…
Metals, mining and money markets
SPOT PRICESCourtesy of ScotiaBankFriday, June 12, 2012 Precious MetalsPrice…
Selwyn reduces project scope as capital costs soar in the Yukon
High capital costs have forced Selwyn Resources (SWN-V) to drastically cut planned mine throughput for its Selwyn lead-zinc underground mine in the Yukon as its tries to make the project affordable.The company, which is developing the Selwyn…
Sabina’s PEA paints a rosy picture at Back River
A recent preliminary economic assessment (PEA) for Sabina Gold & Silver’s (SBB-T) Back River has sketched a favourable prospect, highlighting high grades and lower-than-expected start-up costs for the gold project in…
Editorial: Gold pivots on Wisconsin vote
The first week of June was a watershed moment in U.S. politics that will likely spill over into how the greenback and gold are valued. On June 5, public-sector unions suffered a major defeat at the ballot box in lefty Wisconsin, of all places…
Commentary: Time is ripe for miners to dole out cash to shareholders
Investors are hardly in the mood for risk.And when risk appetite wanes, the “principal-agent” issue rises to the forefront, pushing investors to favour cash in their own hands rather than it being left at the disposal of company…
Cline Mining sues BC government for $500 million
Cline Mining (CMK-T) is suing the B.C. government for $500 million in compensation for the coal licences it lost when the government banned mining in the Flathead valley.The B.C. government made the surprise announcement in February 2010 that…
Alexis promises a turnaround
Alexis Minerals (AMC-T) is looking to redeem itself by restarting the Snow Lake gold mine in Manitoba, with the help of a conditional financing.Credit Suisse has agreed to provide the junior US$45 million to revive the past-producing mine…