Archive | Kirkland Lake

Northern College Aboriginal grads working in mining – by Lindsay Kelly (Northern Ontario Business – February 6, 2014)

Established in 1980, Northern Ontario Business  provides Canadians and international investors with relevant, current and insightful editorial content and business news information about Ontario’s vibrant and resource-rich North. 

Northern College is experiencing another successful milestone in its legacy of miner training: nearly all recent graduates of its hard rock miner common core program are working, two-thirds of which have found employment in the Kirkland Lake area.

The success is thanks to a partnership between the college and AuRico Gold, which operates the Young-Davidson Mine 60 kilometres west of Kirkland Lake. Though the college has offered similar programs through partnerships with other mining companies in the past, this program is unique in that it was funded by the Mushkegowuk and Wabun Tribal councils and geared specifically towards Aboriginal students.

“With all the opportunities in mining and all the IBAs (impact benefit agreements), there are new opportunities there for the Aboriginal communities that weren’t there in the past,” said Bob Mack, Northern College’s vice-president of community, business development and employment services. Continue Reading →

Kirkland Lake shares fall as miner launches sale process amid challenging gold market – by Peter Koven (National Post – January 7, 2014)

The National Post is Canada’s second largest national paper.

TORONTO – With low gold prices and a tight balance sheet putting strain on the company, Kirkland Lake Gold Inc. has put out the “For Sale” sign and said it will consider takeover bids and other transactions as part of a strategic review.

But there is no guarantee that the Toronto-based miner will find a friendly offer in such a challenging gold market. And that means the company needs to turn around its operations and generate positive cash flow.

“There’s definitely challenges here, and if they were easy [to fix], somebody would have solved them long ago,” chief executive George Ogilvie said Monday in an interview.

Like other small gold producers operating in Ontario, Kirkland Lake is facing cash flow problems at gold prices below US$1,250 an ounce. While the company’s reported cash costs are roughly US$1,100 an ounce, it has also poured large amounts of sustaining capital back into its Macassa mine, meaning it is bleeding cash. It is also burdened with $120-million of debt. Continue Reading →

NEWS RELEASE: Armistice Resources Begins Shipping Ore for Gold Processing at QMX Facilities

• Shipment of first 10,000 tonnes of gold-bearing ore begin from Armistice’s McGarry Gold Mine for processing at QMX Gold’s facilities in Val-d’Or Township, Quebec

• Armistice adopts temporary revised work schedule at McGarry Mine as maintenance program underway

Toronto, ON – July 8, 2013 – Armistice Resources Corp. (TSX: AZ), operator of the McGarry gold mine in Ontario’s Kirkland Lake area, today announced that it has begun shipping gold-bearing ore from the mine for processing by QMX Gold Corporation (TSX: QMX).

On June 14, 2013, Armistice announced that it had signed a custom milling agreement with QMX to begin processing ore from its McGarry Mine at QMX’s facilities in Val-d’Or Township, Quebec.

“With the construction of an impermeable pad at QMX’s facilities now completed, we have initiated shipment of the first 10,000 tonnes of ore from our McGarry mine for processing,” said Todd J. Morgan, chief executive officer and president of Armistice.

As previously announced, the processing agreement with QMX is for a term of at least one year and a minimum of 30,000 tonnes of ore to be delivered by Armistice. Continue Reading →

Excerpt from “The History of Mining: The events, technology and people involved in the industry that forged the modern world” – by Michael Coulson

To order a copy of The History of Mining please click here: http://www.harriman-house.com/products/books/23161/business/Michael-Coulson/The-History-of-Mining/

CANADIAN GOLD RUSHES/ NOAH TIMMINS (1867-1936)

The 19th century ended with Canada firmly in the world’s consciousness thanks to the fabulous Klondike gold rush. By the middle of the 20th century Canada would be established as one of the most powerful economies in the world and an important diplomatic player following its key roll on the Allied side in both world wars. The economic underpinning, which enabled Canada to advance to the edge of major power status, was mining. In 1900 the country produced minerals to the value of US$64 million – by the beginning of the Second World War that figure had risen to $567 million and today it is nearer to $45 billion.

Today Canada’s population is only around 35 million, making it very much a mid-range country in those terms, but it is a long-standing member of the Group of 7 (or G7), the meeting of the largest economies in the world. Its standard of living is amongst the highest in the world and its proximity to the world’s largest economy, the USA, is of major benefit as Canada is an exporter of high quality, high value, advanced products to its rich neighbour. Continue Reading →

Osisko buying Queenston Mining in all-stock deal – by Craig Wong (National Post – November 13, 2012)

The National Post is Canada’s second largest national paper.

Canadian Press – Osisko Mining Corp. signed an all-stock deal Monday valued at $550-million to buy Queenston Mining Inc. and its flagship Upper Beaver project in Ontario’s Kirkland Lake region.

Osisko president and chief executive Sean Roosen said work on the Upper Beaver project is coming to a critical stage in its development. “We feel this is the perfect time for us to bring our mine permitting and development teams into the project to back the plan and to make Upper Beaver a successful mine,” Mr. Roosen said on a call with analysts.

“We also have the ability to fund Upper Beaver development from internal cash flow so we don’t anticipate any further dilution as we evolve these projects.”

Queenston also owns several other gold properties in the Kirkland Lake gold camp area as well as interests in projects in Quebec, Manitoba and elsewhere in Ontario.

Queenston president and CEO Charles Page said the Upper Beaver project has the potential for four million ounces of gold. “Osisko’s proven development team can certainly maximize the potential of the Upper Beaver project,” he said. Continue Reading →

NEWS RELEASE: OSISKO ANNOUNCES FRIENDLY ACQUISITION OF QUEENSTON

November 12, 2012

MONTREAL, QC and TORONTO, ON – November 12, 2012. Osisko Mining Corporation (“Osisko”) (TSX:OSK) (FRANKFURT:EWX) and Queenston Mining Inc. (“Queenston”) (TSX:QMI) (OTCQX:QNMNF) are pleased to announce that they have entered into a definitive agreement (the “Agreement”) pursuant to which Osisko will acquire, by way of a court-approved plan of arrangement, all of the issued and outstanding common shares of Queenston. Queenston is a Canadian mineral exploration and development company with a primary focus on its holdings in the historic Kirkland Lake gold camp comprising 230km2 of prime exploration lands on trend with Osisko’s flagship Canadian Malartic mine.

Pursuant to the terms of the Agreement, Queenston shareholders will receive 0.611 of an Osisko share for each common share of Queenston held, implying an offer of C$6.00 per share based on Osisko’s closing price on the Toronto Stock Exchange (“TSX”) on November 9, 2012. The offer represents a 45% premium to Queenston’s 30-day volume-weighted average price (“VWAP”) for the period ending November 9, 2012.

The transaction values Queenston’s equity at approximately C$550 million on a fully diluted in-the-money basis and implies an enterprise value of approximately C$400 million. Pro forma the transaction, Queenston shareholders will own approximately 12% of Osisko (based on fully diluted in-the-money shares outstanding). Continue Reading →

Cage Call: Artist explores lost [mining] histories – by Laura Stricker (Sudbury Star – September 22, 2012)

The Sudbury Star is the City of Greater Sudbury’s daily newspaper.

When photographer Louie Palu set out to learn more about mining, his plan was to spend one month at a mine in Kirkland Lake. That was in 1991. Instead, 12 years, two provinces and thousands of photos later, the project came to an end.

“My dad told me about Kirkland Lake,” Palu said, speaking on the phone. “He was working up there. He’s not a miner. He was just working with some mining people.

“I’ve always been interested in these underrepresented histories and stories, especially sociopolitical ones. Suddenly from Kirkland Lake I got to Timmins, then Sudbury, Val d’Or and (Rouyn)-Noranda. There were all these sort of lost histories, these really important lost histories. I just felt like this story needed to be told.”

Since then, he’s been telling the story through two books and his photos, which have been put on display at art galleries and shows all over the world, including Sweden, France and the United States. Continue Reading →

Queenston Mining eyes 2016 gold pour at flagship project – by Liz Cowan (Northern Ontario Business – August 2012)

Established in 1980, Northern Ontario Business provides Canadians and international investors with relevant, current and insightful editorial content and business news information about Ontario’s vibrant and resource-rich North.

Queenston Mining has been focused the last few years on making the transition from an exploration company to a mining one. Its flagship project – Upper Beaver – and surrounding properties are located east of Kirkland Lake near the small community of Dobie.
 
President and CEO Charles Page, one of the founding members of the company that was established 20 years ago, said he always knew “they had something valuable.”
 
“We have had this property a long time but when we first put it together, gold was $400 an ounce and then it went down to about $260. It didn’t make sense at those gold prices so we kept adding more ground and doing some exploration along the way.”
 
The company plans to sink a shaft at Upper Beaver next year and expects its first gold pour in 2016. In 2007, Queenston raised sufficient capital to allow it to move Upper Beaver to the next stage and to further explore the surrounding deposits. Continue Reading →

Queenston rejuvenating gold-rich Kirkland Lake Mining Camp-Scotia Capital – by Dorothy Kosich (Mineweb.com – January 05, 2012)

http://www.mineweb.com

Citing its assembled land package in the Kirkland Lake Gold Camp, as well as the company’s attraction as an acquisition target, Scotia Capital has initiated coverage on Queenston Mining.

RENO – Scotia Capital Wednesday initiated coverage of Queenston Mining (TSX: QMI) suggesting its Kirkland Lake gold project is an attractive acquisition target to both JV partner, Kirkland Lake Gold (TSX: KGI) and Kirkland’s majority shareholder Agnico-Eagle Mines.

“The company holds the largest assembled land package in the prolific Kirkland Lake Gold Camp in Ontario, which has produced over 40 Moz of gold, and two projects in Quebec, located adjacent to Agnico-Eagle Mines Limited’s…Lapa deposit,” said Scotia Capital analysts Ovais Habib and Mike Hocking.

Located in Ontario along the border with Quebec, the Kirkland Lake Gold Camp is believed to host nine greater than one-million-ounce gold deposits. Continue Reading →

[Kirkland Lake History] ERNIE’S GOLD: A Prospector’s Tale – by Brian (Chip) Martin

 

 

 

 

 

 

 

 

 

 

 

 

For an autographed copy of Ernie’s Gold, please contact the author at: [email protected].

Great Christmas Gift: $20.00 plus shipping!

In the early 1900s, young Ernie Martin immigrated from Staffordshire, England, to Canada to seek his fortune. He finally ended up in Kirkland Lake, where gold was to be found if you were willing to work at it. Ernie was. And so was Harry Oakes. The two of them became prospecting partners. Ernie and Harry worked hard and non-stop to find a vein of gold so they could start a mine.

When it finally happened, the mine grew into a huge money-maker for the two of them. Ernie’s first wife, Mary, also was a prospector, and in fact ended up financially far better off than Ernie. Why was that? How is it that multi-millionaire Ernie Martin arrived at the end of his life virtually a pauper? This is a book full of surprises and answers — and a few questions.

Excerpt from Ernie’s Gold: A Prospector’s Tale:

Meanwhile, in Kirkland Lake, the town had reached a population of 13,000 and was weathering the Depression better than most communities. Job-seekers streamed in looking for work, but only a few were successful. Many moved on and only a few stayed behind. Relief rolls began to grow but remained comparatively small. At a time when one in ten workers was on relief in the depth of the Depression, only 205 families were on the dole in Kirkland Lake. Continue Reading →

[Kirkland Lake History] ERNIE’S GOLD: A Prospector’s Tale – by Brian (Chip) Martin

 

                  

 

 

 

 

 

 

 

 

 

For an autographed copy of Ernie’s Gold, please contact the author at: [email protected].

Great Christmas Gift: $20.00 plus shipping!

In the early 1900s, young Ernie Martin immigrated from Staffordshire, England, to Canada to seek his fortune. He finally ended up in Kirkland Lake, where gold was to be found if you were willing to work at it. Ernie was. And so was Harry Oakes. The two of them became prospecting partners. Ernie and Harry worked hard and non-stop to find a vein of gold so they could start a mine.

When it finally happened, the mine grew into a huge money-maker for the two of them. Ernie’s first wife, Mary, also was a prospector, and in fact ended up financially far better off than Ernie. Why was that? How is it that multi-millionaire Ernie Martin arrived at the end of his life virtually a pauper? This is a book full of surprises and answers — and a few questions.

Excerpt from Ernie’s Gold: A Prospector’s Tale:

Mary wasn’t particularly attractive, being rather short and sturdy in build with a sallow complexion and deep-set eyes. Her fierce, independent spirit discouraged some suitors who were seeking a more traditional mate; but in a land where men far outnumbered women, Mary’s odds had improved. Continue Reading →

Northern mining communities prosper as south struggles – by Chip Martin/QMI Agency (December 12, 2011)

The Sudbury Star is the City of Greater Sudbury’s daily newspaper.

Mining analyst Sudol said the high-tech nature of mining
in 2011 is not well understood. “We all talk about high
tech in Kitchener-Waterloo and Silicon Valley in California
and we are sort of ignoring an extraordinarily interesting
concentration of mining technology, research and education
in Sudbury.”

The same thing killing jobs in southwestern Ontario is creating them by the thousands in Northern Ontario.

The industrialization and urbanization of China, Brazil and India is causing the flight of well-paid industrial jobs to those emerging economies. The fallout is unemployment in Ontario’s industrial sector and unemployment rates soaring to 9.8% in London and 10.8% in Windsor.

But the loss for the south is a gain for the north.

Unemployment is low in places such as Kirkland Lake and Sudbury. Mines and mine-related businesses are clamouring for workers.

“The industrialization and urbanization of China, India and Brazil and many other developing countries will be ongoing for many generations to come,” says respected mining consultant and analyst Stan Sudol. Continue Reading →

[Kirkland Lake History-Harry Oakes] ERNIE’S GOLD: A Prospector’s Tale – by Brian (Chip) Martin


 

 

 

 

 

 

 

 

 

 

 

 

For an autographed copy of Ernie’s Gold, please contact the author at: [email protected] .

Great Christmas Gift: $20.00 plus shipping!

In the early 1900s, young Ernie Martin immigrated from Staffordshire, England, to Canada to seek his fortune. He finally ended up in Kirkland Lake, where gold was to be found if you were willing to work at it. Ernie was. And so was Harry Oakes. The two of them became prospecting partners. Ernie and Harry worked hard and non-stop to find a vein of gold so they could start a mine.

When it finally happened, the mine grew into a huge money-maker for the two of them. Ernie’s first wife, Mary, also was a prospector, and in fact ended up financially far better off than Ernie. Why was that? How is it that multi-millionaire Ernie Martin arrived at the end of his life virtually a pauper? This is a book full of surprises and answers — and a few questions.

Excerpt from Ernie’s Gold: A Prospector’s Tale:

By all accounts, Harry Oakes had a comfortable upbringing, not the sort of background that would likely compel him to dream of riches and spend his life pursuing them. Unlike Ernie Martin and so many other men who stepped off the T&NO train at Swastika, Oakes didn’t see finding gold as a means of escaping modest circumstances. Continue Reading →

[Kirkland Lake History] ERNIE’S GOLD: A Prospector’s Tale – by Brian (Chip) Martin

        

 

 

 

 

 

 

 

 

 

 

 

For an autographed copy of Ernie’s Gold, please contact the author at: [email protected].

Great Christmas Gift: $20.00 plus shipping!

In the early 1900s, young Ernie Martin immigrated from Staffordshire, England, to Canada to seek his fortune. He finally ended up in Kirkland Lake, where gold was to be found if you were willing to work at it. Ernie was. And so was Harry Oakes. The two of them became prospecting partners. Ernie and Harry worked hard and non-stop to find a vein of gold so they could start a mine.

When it finally happened, the mine grew into a huge money-maker for the two of them. Ernie’s first wife, Mary, also was a prospector, and in fact ended up financially far better off than Ernie. Why was that? How is it that multi-millionaire Ernie Martin arrived at the end of his life virtually a pauper? This is a book full of surprises and answers — and a few questions.

Excerpt from Ernie’s Gold: A Prospector’s Tale:

By the time Mabel (Fetterley) had arrived in the Swastika area, Mary Violette had already been in mining country for several years. Mary came from even farther away, the small farm community of Goshen, Indiana. She would have a significant impact on the life of Ernie Martin.

Mary was born in 1874 on a farm at New Paris, just south of Goshen, the second of five children of Benjamin and Caroline Violette. Hers was a prominent family in the area, some of whom opted to drop the final “e” in their name. Mary’s father was the youngest of ten children born to John Wesley and Chloe Violette, who were among the area’s first settlers. One of Benjamin’s older brothers, John H., was not content to stay in farming and in the spring of 1850 joined the California Gold Rush. He was twenty. Continue Reading →

[Kirkland Lake] Canada’s Mile of Gold regains its luster – by Euan Rocha (Reuters Canada – November 3, 2011)

http://ca.reuters.com/
 
KIRKLAND LAKE, Ontario (Reuters) – With a gleam in his eyes, Sidney Hamden recalls the glory days of Kirkland Lake, the little Canadian mining town in northern Ontario that was long ago dubbed “The Mile of Gold”.

Hamden, a spry 82-year-old, remembers his first big break in 1947 at the Lake Shore mine, then one of the deepest gold mines in the world, producing 8.5 million ounces between 1918 and 1965.

“We had seven mines. I personally don’t know of any other place that had seven major mines within a radius of two miles,” said Hamden. “If I’m not mistaken, in 1948 there were approximately 50 different places to buy groceries around town. We had 17 different hotels in the Kirkland Lake area alone.” But Kirkland Lake’s fortunes waned through the 1950s and 1960s, as costs rose and the price of gold stagnated. Continue Reading →