The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Sorted by date Results 151 - 155 of 155
Sabina Gold & Silver Corp. Jan. 22 announced the closing of a C$66.1 million financing that involved Zhaojin International Mining Co. acquiring 24.93 million Sabina Gold shares at C$2.65 each. As a result of this investment, the China-based gold mining company owns roughly 9.9 percent of Sabina’s issued and outstanding common shares on a non-diluted basis. Zhaojin International is a subsidiary of Zhaojin Mining Industry Co., a leading Chinese gold producer and one of China’s largest gold smelting companies. Sabina will app...
North Arrow Minerals Inc. Jan. 22 reported that it has significantly expanded its Mel property in Nunavut to encompass a new diamond-bearing kimberlite field it discovered last year. During its 2017 exploration at Mel, North Arrow discovered ML-8 kimberlite near the up-ice termination of a well-defined kimberlite indicator mineral (KIM) train in the northern part of the project area. A 62.1-kilogram sample of this kimberlite returned 23 diamonds larger than the...
TMAC Resources Inc. Jan. 15 reported the sale of 17,350 ounces of gold for US$1,275 per ounce, for US$22.1 million, from its Hope Bay Mine in Nunavut during the fourth quarter. For the full year, 49,040 oz of gold was poured during the first year of operation at Hope Bay, of which 46,990 oz were sold generating US$59.7 million of revenue for the year and 2,050 ounces were doré or refined. The mill at Hope Bay reached commercial production on June 1, but poor recoveries have...
Aston Bay Holdings Ltd. Dec. 29 said it has raised initial funds for a planned 2018 drill program at its Aston Bay copper and zinc property in Nunavut. The first tranche of a planned C$4 million, which was closed on Dec. 28 to capture flow-through tax effects for 2017, involved the issuance of 3.975 million flow-through shares at C16 cents per share, for a total of C$636,000. Under Canada's Income Tax Act, a flow-through financing allows mineral exploration companies to...
Sabina Gold & Silver Corp. Dec. 20 reported that the Nunavut Impact Review Board has issued the final project certificate for Back River, allowing the company to advance the gold mine project through the final licensing and permitting stage. Sabina submitted the original environmental impact statement for a 3,000-metric-ton-per-day mine at Back River project late in 2015. NIRB recommended to the Minister of Indigenous and Northern Affairs Canada not to advance the project through permitting. After reviewing the...
