The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Sorted by date Results 1 - 17 of 17
After years of quietly and efficiently optimizing a mine plan for Livengood, International Tower Hill Mines Ltd. is now ready to incorporate this work into an updated pre-feasibility study for the 11.5-million-ounce gold project in Alaska. A 2017 PFS outlined plans for a 52,600-metric-ton-per-day mill at Livengood that would produce 6.8 million ounces of gold over a 23-year mine life, or roughly 294,100 oz annually. This mine plan was based on 392 million metric tons of reserv...
Nickel Creek Platinum Corp. March 11 said it plans to carry out exploration drilling, geophysics and sampling at its Nickel Shäw (formerly Wellgreen) nickel-copper-cobalt-platinum group metals project in southwestern Yukon. To fund this work, as well as permitting and other expenses, the company plans to raise C$4.4 million through a proposed non-brokered private placement being supported by a C$2.2 million commitment from Electrum Strategic Opportunities Fund L.P., Nickel Cre...
Constantine Metal Resources Ltd. May 1 said it intends to raise C$10 million through a non-brokered private placement that will include a major strategic investment from Electrum Strategic Opportunities Fund II L.P., an investment fund managed by The Electrum Group LLC. Altius Minerals Corp. and John Tognetti, a major shareholder and Constantine Metal insider, are also slated to participate in the financing. "We welcome the Electrum 'family' as a major shareholder, who we...
A US$28.7 million financing that closed today provides Trilogy Metals Inc.the funds to take major strides in achieving its goal of beginning to develop the vast mineral potential that the world-class Ambler Mining District in Northwest Alaska has to offer. In a deal announced on April 16, a syndicate of underwriters led by Cantor Fitzgerald Canada Corp. –including Cormark Securities Inc., BMO Capital Markets and Roth Capital Partners – has agreed to buy on a bought deal, und...
In 2017 Alaska’s mineral exploration industry saw its first up-tick in exploration spending since 2011, an increase that S&P Global Market Intelligence’s “World Exploration Trends” indicates was mirrored on the world-wide level. According to S&P’s data, the worldwide exploration industry spent $8.4 billion in 2017, the first such increase in spending since 2012. S&P also forecast a 15-20 percent increase in exploration spending for 2018 as well. The study also showed that dema...
International Tower Hill Mines Ltd. March 14 announced that it has raised US$12 million to continue the optimization and environmental baseline studies for its Livengood gold project in Interior Alaska, and for general working capital purposes. "I am pleased to continue the technical work that can potentially improve and certainly will serve to de-risk the Livengood gold project," said Tower Hill CEO Karl Hanneman. "ITH has unique and positive fundamentals, given our land stat...
Since investing roughly US$70 million to acquire a 28 percent stake in Novagold Resources Inc. in 2009, American billionaire Thomas Kaplan and his Electrum Group of companies have taken a keen interest in some of the more intriguing mineral exploration companies and projects in Alaska and across Canada's North. Kaplan, an Oxford-educated historian that began investing in natural resources in the 1980s, knows that gold has served as a currency throughout mankind's written histo...
Constantine Metal Resources Ltd. continues to advance its flagship property, the Palmer copper-zinc-silver-gold-barite project near the port-town of Haines in Southeast Alaska, as it looks to create a new vehicle to carry its gold properties in Alaska, Yukon Territory and Ontario. The roughly US$9 million exploration program at Palmer is being funded by a joint venture between Constantine Metal Resources (51 percent) and Dowa Metals & Mining Co. Ltd. (49 percent). A new resour...
International Tower Hill Mines Ltd. continued optimization and environmental baseline studies at Livengood, an 11.5-million-ounce gold project located along a paved highway about 70 miles north of Fairbanks, Alaska. To fund this work, the Alaska-based exploration company raised US$12 million through a non-brokered private placement that involved issuing 24 million shares at US50 cents each. Electrum Strategic Opportunities Fund II, a new International Tower Hill Mines...
With a goal of bringing more gold into the mine plan for its Eagle Gold project, Victoria Gold Corp. ratcheted up exploration at its Dublin Gulch property in central Yukon Territory. This work focused on Olive-Shamrock, a pair of zones about 2,500 meters northeast of the main Eagle Gold deposit that had no resource estimate going into 2016. The company said Olive and the adjacent Shamrock deposit have the potential to enrich Eagle project economics by adding higher-grade ore, increasing flexibility in mine planning and...
Wellgreen Platinum Ltd. is endeavoring to develop a mine at its namesake platinum group metals-copper-nickel project located near the Alaska Highway in southwestern Yukon Territory. Towards this goal, the company completed a C$14.1 million financing early in 2016. Electrum Strategic Opportunities Fund, the sole subscriber to the private placement, purchased 70.5 million Wellgreen shares at C20 cents per share. The company raised another C$2 million in a separate private placement at C30 cents per share. An updated...
Victoria Gold Corp. April 20 reported plans to raise C$24 million through a private placement of 80 million units at C30 cents each. Electrum Strategic Opportunities Fund L.P. has subscribed to 60 million of the offered units and Sun Valley Gold LLC has subscribed to the remaining 20 million units. Upon closing of the private placement, Electrum is expected to own roughly 13.6 percent of Victoria Gold's issued and outstanding shares while Sun Valley, already a significant shareholder, will increase its ownership to around 18...
North Arrow Minerals Inc. has seven diamond exploration projects in Canada - Naujaat (formerly Qilalugaq), Mel and Luxx in Nunavut; Lac de Gras and Loki in Northwest Territories; Pikoo in Saskatchewan; and Timiskaming in Ontario. The company started 2017 by cutting a deal to acquire Stornoway Diamond Corp.'s interests in Naujaat and Pikoo, which gives North Arrow full ownership of both projects. The company followed up this transaction with a C$5 million private placement,...
North Arrow Minerals Inc. May 18 announced the closing of a C$5 million non-brokered private placement that involved the issuance of 20 million units at C25 cents each. Each unit consists of one North Arrow share and a warrant that entitles the holder to buy another share at C40 cents until May 18, 2020. As part of the private placement, Electrum Strategic Opportunities Fund L.P. and Ross Beaty have each made a C$2 million investment and each will own 19.01 percent of North Arrow's outstanding shares, assuming the exercise...
Kaminak Gold Corp. Nov. 16 reported the appointment of Richard Williams to its board of directors. Williams, who has more than 30 years of global mining experience, currently serves as Novagold Resources Inc.'s vice-president, engineering and development, where he is responsible for all aspects related to the engineering and technical advancement of the Donlin Gold project in Alaska and Galore Creek project in British Columbia. Prior to joining Novagold, Williams held...
Kaminak Gold Corp. Sept. 28 reported that it intends to raise C$22.5 million in a non-brokered private placement to Electrum Strategic Opportunities Fund L.P., Ross Beaty and Zebra Holdings and Investments S.à.r.l., Luxembourg. Beaty and Zebra Holdings each currently own a 7.33 percent interest in Kaminak. Kaminak's financing involves the issuance of 27,439,024 units, made up of one company share and half a purchase warrant, at a price of C82 cents per unit. Each whole...
NovaGold Resources Inc. not only survived 2008 - a year marked by skyrocketing development costs, an unstable financial market as well as environmental and mechanical setbacks at its projects - the embattled miner rocketed into 2009 with its core assets intact and cash in its pocket. In NovaGold's 2008 year-end report, the company described the previous 12 months as challenging for precious metals stocks, including its own. Setbacks at NovaGold's Rock Creek Mine near Nome and...
