The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
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Necessity is the mother of innovative financing. While this is not the exact quote attributed Plato, it captures the wisdom of the philosopher as well as a message PricewaterhouseCoopers has for the junior mining sector. “Companies must take action – quickly and creatively – to find the cash to keep their projects alive and moving forward,” the global consultant recently penned in a brochure called Junior Mine 2015. While most prognosticators agree that we are at or near th... Full story
Coeur Mining Inc. Nov. 2 reported that it produced 3.8 million ounces of silver and 85,769 ounces of gold, or 9 million silver-equivalent ounces during the third quarter 2015. For the quarter, Coeur's revenue was US$162.6 million; adjusted earnings before interest, taxes, depreciation, and amortization was US$31.4 million; adjusted net loss was US16 cents per share; and cash flow from operating activities was US$36.2 million. The company sold 9.5 million silver-equivalent...
Northern Dynasty Minerals Ltd. Nov. 2 said it has reached a definitive agreement to acquire full ownership of Mission Gold Ltd., a Vancouver, B. C.-based exploration company with roughly C$9 million in cash and full ownership of the Alto Parana titanium project in Paraguay. Selling Alto Parana to a third party on terms acceptable to Northern Dynasty was a condition of a preliminary agreement entered in October. The transaction will be implemented by way of a statutory plan of...
Novagold Resources Inc. Nov. 2 released the fourth and final segment of its Alaska Video Series, which tells the story of the people of the Yukon-Kuskokwim region, where the 40-million-ounce Donlin Gold project is located. Part four, "Economic Opportunity and Workforce Development," speaks to how a mine like Donlin Gold provides the prospect of diversifying the economy of Southwest Alaska. The subsistence way-of-life that has sustained the communities in the Yukon-Kuskokwim...
Graphite One Resources Inc. Nov. 2 reported the completion of a C$634,161 private placement. Together with a financing that closed in September, the company has raised total gross proceeds of C$1.99 million. In the most recent financing, Graphite One issued 9,059,449 units at C7 cents per unit. Each unit consists of one common share and one transferable purchase warrant that entitles the holder to purchase one additional common share at C10 cents for a period of three years....
Seabridge Gold Inc. Nov. 3 reported results from the final two of five holes drilled this year at the Deep Kerr deposit of its KSM copper-gold project in northwestern British Columbia. These holes, which were wedged off K-15-49 and K-15-50 into new intercepts of the target zone, are shallower intersections of the high-grade west limb of Deep Kerr and confirm the continuity of that zone between the existing resource and deeper intersections in holes drilled earlier this year....
Agnico Eagle Mines Ltd. Oct. 28 reported that its operations produced a record 441,124 ounces of gold during the third quarter at an all-in sustaining cost of US$759 per oz. As a result of the strong quarter, the Toronto-based miner increased its 2015 gold production guidance to 1.65 million oz. Agnico reported a third quarter net income of US$1.3 million (or US1 cent per share), compared with a net loss of US$15.1 million (US7 cents per share) for the same period last year....
