The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Sorted by date Results 1 - 9 of 9
For nearly two decades, the Fort Knox Mine in Interior Alaska has been a steady low-cost gold producer for owner, Kinross Gold Corp., and an economic driver for the nearby city of Fairbanks. A new technical report, however, outlines a mine plan that begins winding down operations in 2017. It is an important reminder that this Interior Alaska mine has an expiration date. Including the 387,285 ounces recovered in 2014, Fort Knox has produced 6.35 million oz of gold since the...
The Alaska House Fisheries Committee April 7 passed Bristol Bay Fisheries Act (HB 119). The bill, sponsored by Rep. Andy Josephson, D-Anchorage, would require commissioners of the Natural Resources, Environmental Conservation and Fish and Game departments to determine that it has been proven beyond any reasonable doubt that any large-scale mine permitted for the Bristol Bay region would not constitute a danger to the fisheries. This would add to a ballot measure approved by...
Coeur Mining Inc. April 6 reported the Kensington Mine in Southeast produced 33,909 ounces of gold during the first quarter of 2015, a 33 percent increase over the 25,428 oz. recovered during the same period last year. This increase is due to higher grade ore, which more than offset lower mill throughput. Head grades for the first quarter averaged 0.24 oz per ton, up roughly 41 percent from 0.17 oz/t for the first three months of 2014. Coeur anticipates releasing a new mine...
Goldrich Mining Co. April 2 reported the completion of a US$250,000 non-brokered private placement of 5 million units at a price of US5 cents each. Each unit consists of one Goldrich common share and one full-share purchase warrant. Each warrant entitles the holder to purchase one additional common share of the company for five years at US6 cents per share. The warrants are subject to a right of accelerated expiry when the closing price of Goldrich's commons shares has exceeded C22 cents per share for 20 consecutive trading...
Northern Empire Resources Corp. has laid claim to Richardson, a 52,000-acre gold property in Alaska's Interior and has formed an alliance to begin exploring a segment of this vast parcel. Northern Empire is a prospect generator with early-stage gold properties in Alaska and Nunavut and a silver property in Mexico. The company was formed as part of a restructuring of Prosperity Goldfields Corp., a Nunavut-focused exploration company headed by Adrian Fleming. As part of a re-org...
Mountain Province Diamonds Inc. April 7 reported closing a US$370 million term loan facility, which finalizes the company's anticipated funding requirements for the construction and commissioning of the Gahcho Kué diamond mine in Northwest Territories. Gahcho Kué, a joint venture between De Beers Canada (51 percent) and Mountain Province Diamonds (49 percent), is anticipated to produce 53.4 million carats of diamonds over a 12-year mine-life, according to an updated feasibility study released in 2014. Mountain Province r...
Seabridge Gold Inc. April 7 reported completion of a C$16.73 million bought-deal financing. A total of 1.61 million flow-through common shares were sold at a price of C$10.17 per share. Seabridge will use the proceeds from this financing to fund its 2015 exploration program at the KSM copper-gold project in northwestern British Columbia. "We expect this year's program to once again generate additional gold resources which more than offset the share dilution involved. Growing...
Imperial Metals Corp. March 31 reported a net loss of C$37.3 million (C50 cents per share) for the year ended Dec. 31, 2014, compared with net income of $41 million (C55 cents per share) in 2013. This C$68.3 million swing is due to lower metal production and $67.4 million in remediation costs related to failure of the tailings dam Aug. 4 at the Mount Polley Mine in central British Columbia. Since the incident, the company's efforts at Mount Polley have been focused largely on rehabilitation and restoration of the breach and s...
Pretium Resources Inc. and the Nisga'a Nation April 2 said they have entered a cooperation and benefits agreement related to Pretium's Brucejack gold project in northwestern British Columbia. Under the terms of the agreement, the Nisga'a Nation will provide ongoing support for the development and operation of Brucejack as a safe, environmentally sound mine with participation in its economic benefits. For its part, Pretium will honor commitments to the Nisga'a Nation regarding...
