Richmont drops on Wasamac’s PEA
Richmont Mines (RIC-T, RIC-X) saw it shares tumble after publishing a preliminary economic assessment (PEA) for its Wasamac gold project in Rouyn-Noranda, Que.
Canada
Mitsubishi takes stake in Marathon
Mitsubishi Corp. of Japan will invest US$94.9 million for a 25% stake in Stillwater Mining’s (SWC.U-T, SWC-N) Marathon project, a platinum group metals and copper deposit near the north shore of Lake Superior about 10 km north of the town…
Class actions now in session
Vancouver — The numbers are sobering: A $4-billion class action lawsuit against Kinross Gold (K-T, KGC-N), a $1-billion claim against Baffinland Iron Mines, a $250-million claim against Agnico-Eagle Mines (AEM-T, AEM-N), a $66-million…
Rio may sell its diamond assets
Rio Tinto (RIO-N, RIO-L, RIO-A) is pondering whether its diamond assets have lost its sparkle.
Venture drops 50 points in March 19-23 period
Vancouver — Three days of losses well outweighed two days of gains in the March 19 to 23 period, leaving the S&P TSX Venture Composite Index down 50.65 points at 1,555.52 points. Volume was noticeably down for the whole period,…
Sego set to scale Miner Mountain
If you’ve ever been to Princeton, home to the recently opened Copper Mountain mine, you’ve also seen Sego Resources’ (SGZ-V) Miner Mountain copper property.
Glorious royalties
Financing was a recurring theme at this year’s eightieth Prospectors and Developers Association of Canada convention in Toronto. With debt markets in Europe faltering and equity markets globally not performing up to snuff, miners…
Xstrata expands Canadian coal footprint
Swiss-based mining giant Xstrata (XTA-L) has struck a deal to buy the Sukunka coking coal deposit in northern B.C.’s Peace River region from Calgary-based Talisman Energy (TLM-T, TLM-N) for a cool US$500 million in cash.
Banks Island banking on quick-start gold mine
Recently listed Banks Island Gold (BOZ-V) has hit more high-grade gold while expanding the resource at its production-ready Tel zone in northern B.C.
Metals commentary: Wood Mackenzie says Copper prices to ease, but ‘not massively so’
Wood Mackenzie is forecasting global demand growth for copper this year of 3.6%, a copper deficit of 100,000 tonnes and London Metal Exchange cash prices averaging US$8,700 per tonne, or US$3.95 per lb., down from an average of US$8,800 per…
God’s Lake and KI First Nation in escalating impasse
The Ontario government’s move to ban mining and mineral exploration on a large swath of northern Ontario looks to have done little to diffuse tensions between the Kitchenuhmaykoosib Inninuwug (KI) First Nation and junior explorer…
Rambler looks to fire-up production at Ming
Vancouver — Hard work appears to be paying off for London-based Rambler Metals and Mining (RAB-V, RMM-L). The company has reported three-month operational highlights, including maiden-gold production details from its Ming gold-copper mine…