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
Kinross Gold Corp. July 29 reported that its Fort Knox Mine in Interior Alaska produced 116,061 ounces of gold during the second quarter of 2015, a 40 percent jump over the 82,673 oz recovered during the first three months of this year. Kinross attributes the output to higher grade mill material and the seasonal impact of warmer weather on heap leach performance. Lower fuel and power costs, combined with the higher mill grades and more ounces sold, has driven down the cost...
Kiska Metals Corp. July 29 reported the resignations of George Ireland and John Kanellitsas from its board of directors. Ireland and Kanellitsas are representatives of Geologic Resource Partners, a privately owned hedge fund sponsor that owned a majority stake in Geoinformatics Exploration Inc. Geoinformatics and Rimfire Minerals Corp. merged to form Kiska in 2009. The resignations follow the sale of the entirety of 28.6 million Kiska common shares held by GRP, representing about 25 percent of the company's issued and...
Coeur Mining Inc. Aug. 4 announced that it now expects the Kensington Mine to produce 115,000-125,000 ounces of gold in 2015, compared to its previous guidance of 110,000-115,000 oz for the year. The company anticipates the cost of sales per oz of gold from the Southeast Alaska Mine for 2015 to be US$850-US$900, a marked improvement compared to the US$900-US$975 per oz originally forecast. The Kensington Mine produced 63,754 oz of gold during the first six months of 2015, a...
Agnico Eagle Mines Ltd. July 29 reported net income of US$10.1 million (US5 cents per share) for the second quarter of 2015, compared with net income of US$22.2 million (12 cents per share) for the same period last year. Cash provided by operating activities was US$188.3 million, up slightly from US$182.7 million provided by operating activities during the same period a year ago. Agnico said a 24 percent jump in gold production was the primary reason for the increased cash...
The Honorable Leona Aglukkaq, minister of the Canadian Northern Economic Development Agency, and member of Parliament for Nunavut July 30 announced the federal funding for the Iqaluit Marine Infrastructure Project under the New Building Canada Plan. The federal government has committed to fund up to fund up to C$63.7 million of the roughly C$84.9 million project, the government of Nunavut will pay the balance. When completed, the new marine port and sea lift facility at...
Capstone Mining Corp. Aug. 5 said it has received a new water use license needed to begin stripping the high-grade, shallow Minto North deposit at its Minto copper mine Yukon Territory. "Access to the high-grade mineralization at Minto North will have a very positive impact on the continuation of jobs and economic benefit in Yukon, said Capstone President and CEO Darren Pylot. "The mining of the Minto North deposit also makes a significant contribution to the economics of the...
Seabridge Gold Inc. Aug. 4 reported the completion of a pilot plant evaluation of a new process for the removal of selenium from waters at its KSM copper-gold project in northwestern British Columbia. Seabridge Gold Chairman and CEO Rudi Fronk said, "The results provide further evidence that KSM has been designed to operate in an environmentally responsible manner." The BC Environmental Assessment Certificate issued for KSM in July 2014 required completion of the pilot plant...
Canarc Resource Corp. Aug. 4 said PanTerra Gold Ltd. indicated that it will not be able to commit to further expenditures to begin stage-two exploration and permitting work on Canarc's New Polaris gold mine project in northwestern British Columbia until it receives government approval for importing New Polaris gold concentrate into the Dominican Republic for processing. As a result, Canarc and Panterra will work to negotiate the terms and conditions of a one-year extension of...
Mining is a notoriously cyclical business that generally ebbs and flows with the overall state of the global economy, and these cycles are amplified for junior mining companies charged with scouring the globe for the next generation of mines. Following a bull market that reached a crescendo at the end of 2010, the current bear market has been especially deep and painful for even seasoned mining sector veterans. "This has been a particularly treacherous bear market," longtime...
