Twitter

Junior Exploration Sector

Pasinex shines at Pinargozu mine in Turkey – by Salma Tarikh (Northern Miner – May 1, 2017)

http://www.northernminer.com/

Pasinex Resources — the 50%-owner of the high-grade Pinargozu zinc mine in southern Turkey — has seen its shares climb more than 300% over the past year. Driving the share-price appreciation have been improvements at the Pinargozu mine and the soaring zinc price following supply shortages.

In a telephone interview from Turkey, Pasinex’s founder and CEO Steve Williams says the company has just started reaping the production benefits at Pinargozu.

“The big thing with us was that the last few years were terrible and tough times. And we took the decision to build the mine. This year is where we are really going to benefit … And we expect to show the market that we will have a very good year of zinc production.”

Read more

Cobalt junior miner preps for summer drill program – Staff (Northern Ontario Business – May 18, 2017)

https://www.northernontariobusiness.com/

A Toronto-based cobalt junior miner is combining old mining data with modern technology to assess if an historic mining property can be put back into operation using bulk mining techniques.

First Cobalt announced it has started fieldwork on its 2,100-hectare Keeley-Frontier Mine property and surrounding exploration claims at Silver Centre, 25 kilometres south of the historic mining town of Cobalt.

The company’s stated objective is to assess the property for its potential as a large-scale, bulk mining operation, “something which has not been considered previously for this historic mining district,” according to a May 18 new release.

Read more

Hookers and Blow: The Only Real Metric in the Junior Mining Industry – by Peter Clausi (InvestorIntel.com – May 3, 2017)

https://investorintel.com/

Peter M. Clausi is an experienced investment banker, executive and director and CEO for CBLT Inc., formerly known as Green Swan Capital.

We have suffered through at least four years of soul-sucking mining markets. The pain has shot through the juniors, the intermediates, even the mighty senior producers.Many in the industry this year have been quick /eager/ desperate to call a recovery. “It’s over!” we shout, with fingers crossed, hoping that saying it makes it true.

PDAC 2012: ah, the good ole days. Every booth in the trade show and the investor side was spending marketing money. The parties were huge. Treasuries were full. Scotch tastings, a banquet of food and 35,000 people wedged into downtown Toronto for The Mining Show. Companies were on undisciplined buying sprees, spraying capital like water from a hose. That’s what the smell of gold near $1,800 an ounce will do.

Fast forward to PDAC2014. Think Cormac McCarthy’s The Road, the great Irish potato famine, Mad Max, Fort McMurray after the fire, the dark side of the moon. That year, attendance fell to about 25,000, with empty booths artfully draped to cover up the holes.

Read more

NEWS RELEASE: Eldorado to Acquire Integra Gold Corporation (May 15, 2017)

http://www.eldoradogold.com/

VANCOUVER, May 15, 2017 /CNW/ – Eldorado Gold Corporation (the “Company” or “Eldorado”) is pleased to announce that it has entered into a definitive agreement with Integra Gold Corp. (“Integra”) (TSXV:ICG) (the “Arrangement Agreement”), pursuant to which Eldorado has agreed to acquire all of the issued and outstanding common shares of Integra that it does not currently own, by way of a plan of arrangement (the “Arrangement”) under the Business Corporations Act (British Columbia).

Under the Arrangement, shareholders of Integra will be entitled to receive, at their option, for each Integra share they own either (i) 0.24250 Eldorado shares, (ii) C$1.21250 in cash, in both (i) and (ii) subject to pro ration, or (iii) 0.18188 of an Eldorado share and C$0.30313 in cash.

The maximum number of shares issuable by Eldorado under the Arrangement will be approximately 77 million (based on the number of Integra shares outstanding less Integra shares currently owned by Eldorado). The maximum amount of cash payable by Eldorado under the Arrangement will be approximately C$129 million equal to 25% of the total consideration. The total transaction value is approximately C$590 million, inclusive of Integra shares held by Eldorado.

Read more

Money From The Mines! – Copper $$$ Allowing ‘Everybody To Eat A Food’ – by Ryon Jones (Jamaica Gleaner – May 14, 2017)

http://jamaica-gleaner.com/

It could be another 15 years before Carube Copper Corp begins mining in Jamaica, but residents in several communities around the exploration sites are already seeing benefits from the Canadian company’s presence.

More than 600 persons have been employed on a on-and-off basis over a five-year period, with an employment cycle typically lasting for three weeks with workers earning between $2,500 (eight hours) and $3,500 (11 hours) per day. Carube, which is a junior mining company, has seven special exclusive prospective licences to explore for copper and gold across the island.

Bellas Gate, St Catherine, is, however, the most advanced exploration and the one believed to have the most potential. This is now the site of focus with Carube having reclaimed Oz Minerals’ 70 per cent interest in their joint venture last year.

Read more

Continental surges 33% after securing $134m for Colombia gold mine – by Frik Els (Mining.com – May 11, 2017)

http://www.mining.com/

Shares in Continental Gold Inc (TSE:CNL) surged 33% on Thursday day after world number two gold miner Newmont Mining forked out $109 million for just under 20% of the Toronto-based explorer and its Buriticá project in Colombia.

At the same time private equity firm Red Kite is paying $25 million for a 4.6% stake. Together with a Red Kite credit facility, Continental, now worth $388 million on the TSX, is fully funded to start building at 100%-owned Buriticá later this year.

Denver-based Newmont, which operates South America’s largest gold mine Yanacocha and the Merian mine in Suriname, gets a seat on Continental’s board and the two companies agreed on the formation of joint management technical, exploration, and sustainability committees.

Read more

EPA may allow massive mine near pristine Alaskan bay – by Becky Bohrer and Michael Biesecker (Victoria Times Colonist – May 12, 2017)

http://www.timescolonist.com/

The Associated Press – WASHINGTON — The Trump administration settled a lawsuit Friday over the proposed development of a massive gold and copper mine at the headwaters of one of Alaska’s premier salmon fisheries.

The Environmental Protection Agency settled the long-running case with the Pebble Limited Partnership, agreeing to allow the Canadian-owned company to seek a federal permit to build its mine near Bristol Bay.

Pebble sued in federal court over what it claimed was EPA’s collusion with mine opponents to block the project, which a study shows could pose significant risk to salmon populations. A review by EPA’s inspector general found no evidence the agency acted improperly.

Read more

[Pasinex Resources] High Risk, High Reward – Reaping The Benefits – by Peter Kennedy (Stockhouse.com – May 10, 2017)

http://www.stockhouse.com/

Starting a junior exploration company is always a high risk venture, even for the most mining-savvy entrepreneurs. But it is a move that is paying off for Pasinex Resources Ltd. (CSE: C.PSE, PSXRF, Forum) CEO Steve Williams and the company’s financial backers.

Not only has Pasinex been able to get its high grade Turkish zinc mine into production without going through all the usual development and financing hoops, it has also ridden the bull market for zinc metal that many analysts say will continue for another couple of years.

After posting a profit of $826,906 or $0.01 per share in 2016, the company is quickly transforming itself into a mid-tier zinc producer and looking forward to discovering more metal in the vicinity of its flagship Pinargozu mine.

Read more

Upbeat about exploration: Northwestern Ontario feeling rebound in mineral sector – by Ian Ross (Northern Ontario Business – May 3, 2017)

https://www.northernontariobusiness.com/

After suffering through five lean years, optimism is slowly returning to the mineral exploration sector, and nowhere is that more evident than in northwestern Ontario. Fresh from soaking in the buoyant atmosphere at the Prospectors and Developers mining convention in Toronto in March, John Mason sees more geologists in the field, once-dormant drilling companies have rigs turning, and shortages of skilled and experienced labour are being reported in some areas.

“The optimism is real in terms of the money starting to flow,” said the project manager of mining services for the Thunder Bay Community Economic Development Commission, as prices for gold and other metals begin to rebound and exploration capital is more readily available.

When the City of Thunder Bay released its Mining Readiness Strategy in 2013, it pinpointed nine projects in the region that had near-term potential to become mines. A few more have since entered the picture, including Harte Gold’s decision to transition its Sugar Zone project, north of White River, into commercial production in 2018.

Read more

Canadian Orebodies: Back to Hemlo – by Jay Currie (Resources Wire/Financial Post – April 30, 2017)

http://business.financialpost.com/

Gordon McKinnon, CEO of Canadian Orebodies (V.CORE), has gold mining, specifically gold mining at the famous Hemlo gold camp, in his blood. After all, his father, Don McKinnon co-discovered Hemlo back in the 1980’s. “I swore I’d never go into the business,” says McKinnon. But here he is helming a company which is exploring for gold at, well, Hemlo.

“We voluntarily delisted the company back in 2015. There was no money available for gold exploration and we wanted to save all costs possible to ensure the company could continue,” said McKinnon. “We joke that we called the bottom of the market when we delisted. Then, in January 2016, Rob Cudney (of FNX and Gold Eagle fame) came into the lunchroom at Northfield Capital, where we have our offices, and said, “This is the turn. We need another Hemlo.”

“Hemlo itself had a bit of a stigma that it had been picked over,” said McKinnon. “But the fact is that greenstone belts that produce mega ounce deposits, like that at Hemlo, almost always produce other systems. And, at the time, near Hemlo you could stake what you wanted.”

Read more

Conflicting rulings in Ontario and B.C. muddy the waters in Eco Oro Minerals board battle – by Barbara Shecter (Financial Post – April 25, 2017)

http://business.financialpost.com/

A layer of drama was added to the fight between Eco Oro Minerals Corp. and a group of dissident shareholders Monday after an Ontario regulator and a B.C. court came to different conclusions regarding the battle over control of the board.

The shareholder group, which is trying to oust the board of the precious metals exploration and mining company in favour of their own slate, got a boost when the Ontario Securities Commission ruled early Monday that a disputed share issue by the company required a shareholder vote.

But a ruling from the B.C. Supreme Court later in the day — in response to a separate claim — found that the minority shareholders of Vancouver-based Eco Oro had not met the test for shareholder oppression. It also adjourned a special meeting at which a different vote — over board composition — was to take place Tuesday.

Read more

Strongbow’s South Crofty to revive age-old tin mining tradition in Cornwall – by Henry Lazenby – April 21, 2017)

http://www.miningweekly.com/

VAANCOUVER (miningweekly.com) – Bolstered by strengthening tin prices and improving fundamental support in the long term, Canadian mineral exploration firm Strongbow Exploration is set to revive a mining tradition in England’s county of Cornwall, that reaches back thousands of years to the early Bronze Age.

The company’s flagship asset, the South Crofty project, is a past-producing underground tin/copper mine, located in the town of Pool, in the historic Cornwall tin mining district of south-west England. The project is located 390 km west-southwest of London, and is about 4.5 km south of the Celtic sea coast.

The Cornish mining industry, which started about 2150 BCE, reached its peak in the nineteenth century, when thousands of workers were employed in up to 2 000 mines, before the industry collapsed when ores began to be produced more cheaply abroad in Malaysia and Indonesia, among others, Strongbow president and CEO Richard Williams tells Mining Weekly Online in an interview.

Read more

NEWS RELEASE: Canadian Orebodies Doubles Land Position at Wire Lake Through Acquisition of the Black Raven Property

http://www.canadianorebodies.com

TORONTO, ONTARIO–(Marketwired – April 24, 2017) – Canadian Orebodies Inc. (the “Company”) (TSX VENTURE:CORE) is pleased to announce the execution of an acquisition agreement (the “Acquisition Agreement”) with StrikePoint Gold Inc. (the “Vendor”) to acquire a 100% interest in 33 mineral claims located 14 kilometres northeast of Marathon, ON, and generally referred to as the “Black Raven Property” or “Smoke Lake Property” (the “Property”).

“This is a highly strategic acquisition which ties directly onto our Wire Lake Property, and is along the known gold bearing trend currently being evaluated by Canadian Orebodies. This transaction more than doubles the size of our land package in the immediate area to over 11,000 hectares,” said Gordon McKinnon, President and CEO of Orebodies.

“This Property not only adds coverage over the extension of the Wire Lake gold trend, but adds numerous other highly prospective targets, including the bonanza grades of 312.90 gpt Au and 95.31 gpt Au from the Crocker Float.”

Read more

Timmins leads Ontario for mining exploration – by Len Gillis (Timmins Daily Press – April 19, 2017)

http://www.timminspress.com/

The value of mining exploration across the North is down, but exploration in the Porcupine Camp continues to be the busiest and most lucrative in all of Ontario. Mining exploration in the Porcupine Mining District alone showed a value of more than $19-million worth of exploration work that was carried out on 6,709 claims during 2016.

That was part of the report tabled this week by Ed van Hees, Ph.D.; the regional resident geologist for the Ministry of Northern Development and Mines in Timmins.

His report also showed that the $19-million exceeded the level of exploration work when compared to the other individual mining districts in Ontario. Work in the Thunder Bay area was just over $18-million. Next in line was exploration work in the Larder Lake area which was listed at a value of nearly $12-million. The Red Lake mining district was listed at only $8.6-million.

Read more

Northern Dynasty shares surge 32 per cent after crucial Alaska permit approval – by  Sunny Freeman (Financial Post – April 13, 2017)

http://business.financialpost.com/

Northern Dynasty Mineral Ltd. stock jumped as much as 32 per cent Wednesday after it received a crucial permit from the Alaska government that could see its Pebble project clear a 10-year-long development hurdle.

The Vancouver-based company, which has also recently been the target of a short-seller campaign, said late Tuesday its U.S. subsidiary Pebble Limited Partnership has received notice of approval for a miscellaneous land use permit from the Alaska Department of Natural Resources.

Its stock was trading up 31.7 per cent at $2.41 apiece in midday trading on the Toronto Stock Exchange. Shares had been on a tear, rising nearly 300 per cent since the November election of U.S. President Donald Trump on speculation that his administration would loosen environmental regulations that have held back its Pebble copper-gold project.

Read more