The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Sorted by date Results 101 - 119 of 119
As a follow-up to last month's realization that once again "the game is afoot" in the mining industry, major gold producer Goldcorp recently presented some arresting statistics at the Bank of America Merrill Lynch Global Metals, Mining and Steel Conference. The presentation showed gold discovery and production information for the global mining industry that indicated that peak gold discovery occurred in 1995, this despite three periods between 1995 and 2015 when exploration...
Goldcorp Inc. July 20 said it has completed the acquisition of Kaminak Gold Corp. in an all-shares deal valued at roughly C$401 million when you consider the value of the Goldcorp shares on the day of the closing. As a result of the purchase, Goldcorp now has full ownership of the Coffee Gold project in Yukon Territory. According to a feasibility study published by Kaminak at the beginning of the year, the mine proposed for Coffee is expected to produce 184,000 ounces of gold...
Independence Gold Corp. June 20 reported that Goldcorp Inc. intends to buy 10,884,880 flow-through shares of Independence for net proceeds of C$1,959,278.40. Upon completion of this private placement financing, Goldcorp will own roughly 19.9 percent of Independence Gold's issued and outstanding shares. "We are pleased to welcome Goldcorp as a shareholder of Independence. We view this investment as a validation of our exploration results and as well as positive encouragement...
Kaminak Gold Corp. June 9 reported the start of a C$2.6 million initial phase of the 2016 exploration program at the Coffee Gold project in the Yukon Territory. The program is designed to test resource expansion potential proximal to the proposed mine site as well as to further investigate priority gold-in-soil anomalies identified during past exploration. Priority targets for phase 1 include: expansion drilling at Supremo T3 and Latte, two mineralized structures that jointly...
Kaminak Gold Corp. May 12 reported that Goldcorp Inc. has agreed to acquire the junior mining company in an all-share transaction. The total consideration offered for the Kaminak shares is roughly C$520 million. "This acquisition is consistent with our strategy of partnering with junior exploration companies to identify and develop mining districts with significant exploration potential that is expected to grow our net asset value per share," said Goldcorp President and CEO...
The world's mining industry has once again transmogrified itself in the face of changing global metals markets and investor expectations. In a recent Reuters report, several companies, including Newmont Mining Corp., Goldcorp Inc. and Yamana Gold Inc., were singled out as having taken steps to bring smaller, leaner, lower output projects into production to avoid the cost over-runs which have plagued the large multibillion-dollar projects in recent years. The same large mine...
Thanks to higher grades and improved recoveries, Greens Creek and Kensington, the two producing mines located in the Alaska Panhandle, reported strong output in 2014 and outstanding results for the fourth quarter. Record output at Greens Creek At Greens Creek which is owned and operated by Idaho-based Hecla Mining Co., about 360 full-time workers carved some 7.83 million ounces of silver and 58,753 oz gold, as well as lead and zinc concentrates from the volcanogenic massive sulphide mine in 2014, milling ore at an average rat...
Following an impressive decade-long run of consistent gains, has the price of gold reached its apex? Or, are the precious metal bulls taking a breather before stampeding to new historic highs in the months and years to come? This question of where gold prices are heading tends to perplex the most accomplished of economists. During a July 18 congressional testimony, Federal Reserve Chairman Ben Bernanke's admitted "that nobody really understands gold prices and I don't pretend...
As gold topped US$1,775 per ounce in September, banks and billionaires predicted the safe-haven metal will continue to rocket upward, topping US$2,000 per ounce by early 2013. This bullish outlook is being fueled by continued quantitative easing by the U.S. Federal Reserve and central banks in Europe. "Loose monetary policies with a scope for more aggressive balance-sheet use in the U.S. and Europe will keep real rates in most reserve currencies low (or negative) in 2012,"...
New Gold Inc. and Richfield Ventures Corp. jointly unveiled plans April 4 for New Gold to acquire the junior gold explorer and its promising Blackwater gold project in central British Columbia in a transaction valued at some C$550 million. New Gold and Richfield said they entered definitive agreement in which New Gold will acquire, through a plan of arrangement, all of the outstanding common shares of Richfield. Under terms of the buyout, each Richfield shareholder will receive 0.9217 of a New Gold share for each Richfield...
Thompson Creek Metals Co. Inc. and Terrane Metals Corp. said they have completed a definitive agreement for the Denver-based molybdenum producer to purchase Terrane Metals with cash and stock valued at about C$650 million. The deal, which won approval of both Thompson Creek and Terrane's boards of directors, will be proceed under a court-approved plan of arrangement under British Columbia law. Thompson Creek, meanwhile, signed over to Royal Gold Inc. one-quarter of life-of-mine gold production from Terrane's most advanced...
With base metal prices bouncing back and liquidity returning to the financial markets, a feeling of optimism filled the Westin Bayshore Hotel during the 2010 Mineral Exploration Roundup in Vancouver, B.C. The four-day-long event provided a forum for geologists to swap stories about their 2009 exploits, miners and investors to get together to fund new exploits, suppliers to show off their latest wares, geology students to seek out prospective employers and some 5,800 old and ne...
Terrane Metals Corp. has decided to move ahead with construction of a C$900 million open-pit copper-gold mine at the Mt. Milligan Project in north-central British Columbia. Robert Pease, Terrane's president and CEO, told investors Jan. 12 that the junior is talking with Japan's Mitsubishi Corp. and Sumitomo Corp., as well as other companies, in search of financing alternatives for the project, which has a C$172 million construction budget for 2010. Terrane plans to start construction at Mt. Milligan in July, and will need to...
Though plummeting metals prices and fading investor confidence have hammered the mining sector this year, the Northwest Mining Association's 114th annual meeting in Reno, Nevada, Dec. 1 - 5 drew more than 2,000 attendees, a crowd the yearly gathering has not seen in more than a decade. Miners and others attending the NWMA meeting said the economy and its impact on the mining industry is their primary concern. The meeting's two luncheon speakers echoed that concern in discussin...
Thanks to higher production and higher prices, Kinross Gold Corp. Feb. 21 posted 2007 earnings of $334 million, or 60 cents per share, up substantially from $165.8 million, or $0.47 per share, in 2006. The Toronto-based owner of the Fort Knox gold mine also reported fourth-quarter 2007 earnings of $173.1 million, 29 cents per share, up more than 322 percent from $41 million, or 11 cents per share, for the same period in 2006. The fourth-quarter earnings included a gain relating to an asset swap transaction with Goldcorp....
Exploration spending in British Columbia hit a record high of C$265 million in 2006, a figure that the province's mining minister, Bill Bennett was proud to announce at the recent Mineral Exploration Roundup in Vancouver. Unfortunately for Bennett, he probably won't be invited to boast about the industry's successes next year, since he was forced to resign in early February after sending an obscenity-laced email to a gun club member. "British Columbians want good jobs, and they also, frankly, want the tax revenues that come...
Two Canadian mining companies traded accusations in November as they hurtled toward the latest deadline in Barrick's hostile takeover bid for NovaGold. The world's largest gold producer upped its offer from $14.50 per share to $16 per share and announced it would take up all shares tendered by Nov. 21, regardless of whether it obtained the minimum 50.1 percent of NovaGold that it originally hoped for. NovaGold would have liked to see a "white knight" ride in and rescue it from Barrick's advances with a shinier offer. That...
A new North American gold powerhouse is in the making following the merger of Goldcorp and Wheaten River Minerals, two mid-size Canadian producers, whose combined entity now ranks No. 5 on the continent. With the champagne still flowing and the ink still drying on the deal, Ian Telfer, president and chief executive officer of the new Goldcorp, wasted no time talking about expansion. He said Goldcorp's objective will be to double production and attain what he views as the benchmark 2 million ounce mark sometime in 2005. He...
Pele Mountain Resources, a junior exploration company, says it has discovered two large diamond-bearing zones in northern Ontario. Exploration at the Festival diamond project is being financed by gold producer Goldcorp, which has an option to acquire up to a 60 percent interest and is best known for its Red Lake gold mine in northern Ontario and its current bid to take over Vancouver-based Wheaten River Minerals. Goldcorp is itself a takeover target by Nevada-based Glamis Gold, which has urged Goldcorp shareholders to reject...
