Twitter

Junior Exploration Sector

Two approaches we could take here at home to ease the world’s critical mineral shortages – by David Olive (Toronto Star – January 3, 2023)

https://www.thestar.com/

Canada is the world leader in financing mineral exploration across the planet. It’s just that about 57 per cent of that money, or $10.5 billion in 2022, was invested abroad, David Olive writes.

It’s commonly assumed in Canada that we are laggards at critical mineral production. There are a couple of new approaches we could take in helping the world ease its critical mineral shortages.

They are a new continental “corridor” extending from Canada to Chile of critical mineral producers that share common values. And second, we need a new model of financing the junior mining companies that make up most of Canada’s mining sector, account for most mine discoveries — and are starved for capital. First, though, Canada is not, in fact, a laggard.

Read more

Can beaten-up junior miners fight illegal short-selling? – by Alisha Hiyate (Northern Miner – December 18, 2023)

https://www.northernminer.com/

Terry Lynch began to notice unusual price movements in Power Nickel (TSXV: PNPN; US-OTC: PNPNF)’s stock (then called Chilean Metals) years ago. The shares consistently traded down at the end of the day, regardless of news, with late day trades often made anonymously.

Now the stock is stuck in a range of 25¢ to 30¢ — despite a recently released initial nickel-sulphide resource for the company’s optioned Nisk project in Quebec, and a staged deal with battery and defence supplier CVMR to fund engineering studies.

Read more

Mining claims have jumped 30% in northern Ontario’s Ring of Fire area since 2022 – by Sarah Law (CBC News Thunder Bay – December 11, 2023)

https://www.cbc.ca/news/canada/thunder-bay/

More than 31,000 mining claims are now registered in the area, data shows

Mining claims staked in northern Ontario’s Ring of Fire area have risen by 30 per cent since last year, according to online mining data from the provincial government. The crescent-shaped mineral deposit in the James Bay lowlands has been eyed as a critical source for Ontario’s burgeoning electric vehicle battery industry for years.

But surrounding First Nations say there hasn’t been proper consultation about mining projects on their territories. A number of rallies have been held at Queen’s Park in Toronto this year by members of the First Nations Land Defence Alliance, calling out the province’s free-entry mining system and demanding a meeting with Premier Doug Ford.

Read more

Area covered by mining claims in Ontario’s ‘Ring of Fire’ increased by 30 per cent in one year – by Krista Hessey (Global News – December 4, 2023)

https://globalnews.ca/

The so-called ‘Ring of Fire’ in Ontario’s far north is expanding in size as mining claims spike in the area. More than 31,000 mining claims have been registered to date, an increase of 28 per cent in a year, according to analysis by Wildlands League, a non-profit conservation group.

The rise in the number of mining claims coincides with more land being taken up by surface rights owners. The claims now cover 626,000 hectares of the remote northern landscape, up 30 per cent from September 2022. The area is now nearly 10 times the size of the City of Toronto or double the Greater Sudbury area, the group says.

Read more

Canadian critical minerals miner Foran raising $200-million, a rare financing for a junior company – by Tim Kiladze (Globe and Mail – November 28, 2023)

https://www.theglobeandmail.com/

Foran Mining Corp., a Canadian company with a promising copper and zinc project in Saskatchewan, is raising $200-million to fund its next stage of development, a rare financing for a junior miner in a tough market for share sales.

Foran, which is based in British Columbia, is selling up to $190-million worth of new shares at $4.10 apiece through a private placement, as well as $10-million worth of “flow-through” shares that carry a special tax treatment.

Read more

Mining company takes BC government to court over permitting delays – by Rachael Lesosky (Hamilton Spectator – November 16, 2023)

https://www.thespec.com/

Taranis Resources Inc. has been waiting 15 months for a decision on its mining exploration permit application for its Thor project near Trout Lake, in Ktunaxa traditional territory northeast of Nakusp. The Canadian mining company believes that First Nation consultation is holding things up, and has filed a petition with the British Columbia Supreme Court.

“We believe the government is unwilling to do its legal duty [to grant the permit] because of First Nation pressure,” said Taranis President and CEO John Gardiner in an October 16 press release.

Read more

Proposed northern Sask. uranium mine, mill one step closer to becoming reality – by Cole Davenport (CTV News Saskatoon – November 10, 2023)

https://saskatoon.ctvnews.ca/

A major uranium project in northwestern Saskatchewan has cleared a significant regulatory hurdle. NexGen Energy said Thursday that its proposed uranium mine and mill to be built on the Athabasca Basin north of La Loche known as “Rook I” was granted full approval after an environmental assessment carried out by provincial officials.

“Throughout the rigorous [environmental assessment] process, the Government of Saskatchewan recognized the unparalleled value and future opportunities the Rook I Project will provide for local communities, Saskatchewan, and Canada,” NexGen CEO Leigh Curyer said in a release.

Read more

B.C. First Nation challenges claim-staking procedure – by Peter Best (Financial Post – November 7, 2023)

https://financialpost.com/

Last month, Australians were allowed their say on a constitutional amendment that proposed giving Indigenous groups a new lever of control over the country’s federal institutions. Called “The Voice,” it would have empowered a native assembly to make representations directly to parliament to promote Indigenous political objectives.

Although it was claimed The Voice did not entail a veto or effective control over government decisions, the referendum’s foundational document asserted that native sovereignty “co-exists with the sovereignty of the Crown.” In effect, The Voice was to be a parallel source of authority alongside traditional Western-style democracy and law-making.

Read more

Market uncertainty creates major challenges for critical mineral exploration – by Aya Dufour (CBC Sudbury – November 6, 2023)

https://www.cbc.ca/news/canada/sudbury/

Some companies are at risk of going under as commodity prices sink

Many in the mining world are used to the cyclical nature of the industry. But prospectors and the smaller junior exploration companies that carry out most of the work to find critical minerals are particularly vulnerable to the whims of the market. Unlike their larger counterparts, most juniors cannot rely on production revenues and depend entirely on the stock market and investors for the money they need to advance projects.

These companies cannot wait for more favourable market conditions before making a move as they must do a certain amount of exploration work every year to hold on to their claims. This is why the current economic slowdown is creating major obstacles for critical mineral exploration.

Read more

Alaska Energy Metals stock rises on drill results at Nikolai nickel project – by Staff (Mining.com – October 30, 2023)

https://www.mining.com/

Alaska Energy Metals’ (TSXV: AEMC) stock rose on Monday after releasing results for two additional diamond drill holes from its 2023 exploration program at its 100% owned Nikolai nickel project.

The Nikolai project is possible host to disseminated nickel-copper-cobalt-PGE mineralization analogous to the Crawford deposit in Canada and the Norilsk mine in Russia, according to the company’s website.

Read more

B.C. junior miner goes to court over permitting delays – by Nelson Bennett (Business In Vancouver – October 17, 2023)

https://biv.com/

Company takes issue with mine minister’s statement on aboriginal ownership of land

A junior exploration company with a proposed mine project near Revelstoke is taking the province to court over permitting delays that the company says may be related to a mischaracterization by the Mines minister on the extent of aboriginal title in B.C.

A judicial review filed by Taranis Resources Inc. (TSX-V:TRO, OTCQB:TNREF) may end up as a legal test of the limits of the “consent” provisions in the Declaration on the Rights of Indigenous Peoples Act (DRIPA.)

Read more

NexGen Aims to Be Canadian Uranium Player – by Geoffrey Morgan and Jackie Edwards (Bloomberg News – October 19, 2023)

https://www.bnnbloomberg.ca/

(Bloomberg) — Canada’s NexGen Energy Ltd. is looking to Australia’s equity market as it sets up financing for its first-ever uranium mine back home, a project with a $1 billion price tag.

That’s partly because its co-founder heralds from Down Under and the market has a depth of experience with mining stocks. But more important is Australia’s $2.2 trillion pensions industry, creating what NexGen’s Chief Commercial Officer Travis McPherson termed “unrelenting” demand for assets.

Read more

B.C. Supreme Court rules province’s mining claims system violates Indigenous rights – by David P. Ball (CBC News British Columbia – September 26, 2023)

https://www.cbc.ca/news/canada/british-columbia/

Province ordered to replace system with one that ensures consultation with Indigenous communities

The B.C. Supreme Court ruled Tuesday that the province’s mining permit system is unconstitutional. The province’s current system, at issue in the case, automatically grants mineral claims to industry applicants who submit a request through a government website.

Tuesday’s ruling found that process violates First Nations rights. It ordered B.C. to replace the system with one that ensures input and consultation with Indigenous communities on whose territories mining permits are granted.

Read more

Beaver Creek: Wide disconnect between equities and commodity prices offers buying opportunity – by Henry Lazenby (Northern Miner – September 14, 2023)

https://www.northernminer.com/

The discrepancy between mining company valuations and commodity prices is at its worst levels in decades, the Precious Metals Summit in Colorado heard this week.

“This is probably the worst disconnect I’ve seen in over 20 years,” Haytham Hodaly, senior vice-president for corporate development for streaming pioneer Wheaton Precious Metals (TSX: WPM; NYSE: WPM), told the conference.

Read more

Red Lake Camp keeps giving as Frank Giustra-backed explorer hits bonanza gold – by Henry Lazenby (Northern Miner – September 12, 2023)

https://www.northernminer.com/

Industry financier Frank Giustra’s first foray into gold exploration struck it big Tuesday, reporting bonanza gold grades of more than a kilogram per tonne at its Rowan property in the fabled Red Lake Camp of Ontario.

West Red Lake Gold Mines (TSXV: WRLG; US-OTC: WRLGF) reported Tuesday that hole RLG-23-163B cut 70.8 grams gold per tonne over 8.3 meters, including a segment of 0.5-meter grading 1,120.19 grams gold per tonne.

Read more