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COMPANY REORGANISATION

Veris Gold granted provisional relief in the US

Gold producer Veris Gold was this week granted provisional relief under Section 1519 of the US Bankruptcy Code in the United States. As of as of Wednesday, the ruling recognised the Canadian proceeding of the Companies' Creditors Arrangement Act...
25th July 2014
 
SILVER

Fortune Minerals reports attractive metrics for Colorado silver mine

TSX-listed Fortune Minerals this week reported attractive financial indicators resulting from a preliminary economic assessment (PEA) undertaken on its recently acquired Revenue Silver mine, in south-west Colorado. The London, Ontario-based...
25th July 2014
 
MINING PRODUCTIVITY

Miners need to reverse decade-long productivity decline

Miners would need to radically transform their business models if they wanted to reverse the decade-long decline in productivity, a new report by professional services firm EY had found. ‘Productivity in mining: A case for broad...
25th July 2014
 
POTASH

PotashCorp lifts profit outlook, Q2 earnings beat expectations

Canadian fertiliser producer Potash Corp of Saskatchewan (PotashCorp) this week reported a near 27% drop in second-quarter profit at $472-million, or $0.56 a share, as lower potash prices dragged revenue down. However, the results for the period...
25th July 2014
 
WOMEN IN MINING

Glencore’s woman director marks progress for mining

Glencore’s Woman Director Marks Progress for Mining: Commodities  
25th July 2014
 
M&A

Big deals surge in Q2

After a quiet first quarter, mergers and acquisitions (M&A) activity in Canada accelerated in the second quarter, according to professional services firm PwC's 'Capital Markets Flash' report. The second quarter saw 748 deals with a total value of...
24th July 2014
 
RING OF FIRE

Noront appeals Ontario Mining Recorder ruling

KWG's staked claims for a proposed railway corridor. Noront Resources, the proponent of what could possibly be one of the first projects to get off the ground in Ontario’s prospective Ring of Fire mining district, has launched an appeal to the province’s Mining and Lands Commissioner to set...
24th July 2014
 
IRON-ORE/COAL

Beleaguered Cliffs posts Q2 loss, beats expectations

US iron-ore and coal producer Cliffs Natural Resources, which is locked in a proxy fight with an activist shareholder for control of the board, on Wednesday reported a net loss for the three months ended June 30, as lower iron-ore and...
24th July 2014
 
EXPLORATION

Transition Metals and Nunavut Resources add prospective land to portfolio

Canadian project generator Transition Metals on Wednesday announced that 433 km2 of high potential gold and base metal exploration properties had been acquired in Nunavut through its strategic alliance partnership with Nunavut Resources...
23rd July 2014
 
PROJECT DEVELOPMENT

Fortune Receives final Nico water licence

The developer of the Nico gold/cobalt/bismuth/copper mine and concentrator in Canada’s Northwest Territories, Fortune Metals, on Wednesday reported that the Northwest Territories Environment and Natural Resources Minister Michael Miltenberger...
23rd July 2014
 
M&A

Chalice Gold Mines acquires Ontario’s Dubenski gold deposit

Australian gold explorer Chalice Gold Mines on Wednesday reported that it had acquired the Dubenski gold deposit, in Ontario, for C$700 000 after successfully renegotiating an existing option agreement. The TSX- and ASX-listed company said the...
23rd July 2014
 
PROJECT DEVELOPMENT

Aquila Resources reports positive results for new Michigan project PEA

Great Lakes-focused Aquila Resources on Wednesday reported the positive results of a new preliminary economic assessment (PEA) on its flagship Back Forty gold/zinc project, in Michigan, US. Completed by consulting engineering firm Tetra Tech, the...
23rd July 2014
 
 
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