Exploration

FireFly Metals cuts bonanza copper grades at Green Bay, N.L.

Analysis, Exploration, Financing, News, Precious Metals, Stock Markets/Investing October 30, 2024

FireFly glows on Newfoundland copper project resource

FireFly Metals (ASX: FFM) expanded its Green Bay copper-gold project’s contained metal by 42% in an update this week, putting it on course to restart the Ming mine in 2028 at…

Exploration, News October 30, 2024

Fireweed grows Boundary target beyond zinc-lead-silver resource in Yukon

Drill results from Fireweed Metals’ (TSXV: FWZ; US-OTC: FWEDF) Macpass project, which could hold one of the world’s largest undeveloped zinc deposits, expand an area outside of a resource update…

Exploration, Technology October 30, 2024

Rio Tinto adopts space tech for lithium exploration in Argentina

Rio Tinto (NYSE: RIO; LSE: RIO; ASX: RIO) has adopted space technology from Australia’s Fleet Space to boost its exploration efforts at its Rincon lithium project in Argentina. The world’s…

Exploration, News, Precious Metals October 29, 2024

Compass Gold signs mill deal to tap Tarabala deposit in Mali within months

Shares in Compass Gold (TSXV: CVB) doubled on Tuesday after Malian business group SMAT agreed to toll-treat ore from its Tarabala deposit within five months, as the company awaits its…

Critical Metals licence for Greenland rare earths deposit extended

Exploration, News October 29, 2024

Critical Metals finds new high-grade areas at Tanbreez rare earths project

European rare earths developer Critical Metals (NASDAQ: CRML) has flagged additional upside for its flagship Tanbreez project in Greenland after its exploration team identified two high-grade areas that were previously…

Exploration, News October 29, 2024

F3 Uranium logs strong results at PLN project, extends A1 shear

F3 Uranium (TSXV: FUU; US-OTC: FUUFF) has reported “ultra high-grade” drill results from the JR zone at its Patterson Lake North project in Saskatchewan, and discovered an extension to the…

Commodities Markets, Exploration, News, Precious Metals October 28, 2024

Heliostar expands high-grade gold at Ana Paula, uncovering a new zone

Drill results from Heliostar Metals’ (TSXV: HSTR; US-OTC: HSTXF) Ana Paula gold project in Guerrero, Mexico, suggest potential for a resource increase and a new, near-surface find. The Vancouver-based junior…

Exploration, News, Regulatory Issues, Stock Markets/Investing October 28, 2024

Atlas Lithium soars on Neves permit in Brazil

Once operational, annual lithium production at Neves is projected to reach 300,000 tonnes.

LI-FT Power Yellowknife Lithium Project NWT

Analysis, Exploration, Financing, News, Regulatory Issues, Stock Markets/Investing October 25, 2024

Li-FT secures mystery lithium investor

Li-FT Power (TSXV: LIFT; US-OTC: LIFFF), which claims to have Canada’s third-largest maiden hard rock lithium resource, said this week that an unnamed investor is buying 9.99% of the company…

$Pentwater Capital Management LP, the second-largest investor in Turquoise Hill Resources (TSX: TQR) has increased its stake in the Canadian company while rejecting again Rio Tinto’s C$43-a-share offer for the 49% of the miner it doesn’t already own. The activist investor disclosed it had bought around 1.24% of common stock at C$41.01 per share in Turquoise Hill, for a total of C$102.5 million on September 15. It means it currently owns 13.77% of Turquoise Hill’s shares Rio Tinto agreed on earlier this month to take over Turquoise Hill after sweetening an initial offer by around 20% to “a best and final” $3.3 billion. Penwater, which joined minority shareholder SailingStone Capital Partners in publicly opposing Rio Tinto’s offer as too low, restated its discontent. “The proposed price implies an equity value of C$8.65 billion, which is a fraction of the free cash flow that Pentwater expects Turquoise Hill to generate over the next decade,” it said in the statement. Pentwater noted it expects Turquoise Hill to generate over C$10.5 billion of free cash flow through 2030 assuming a $3.50 per pound copper price and almost C$14.2 billion of free cash flow assuming copper prices of $4 per pound. It also said it was weighing options to thwart the deal, including but not limited to the possible exercise of dissent rights or other legal action. Rio’s offer equires two thirds of shareholders, including Rio Tinto’s, to vote in favour. More than 50% of minority shareholders must approve it. Rio’s final bid represents a 67% premium from Turquoise Hill’s closing price of C$25.68 a share on March 11, the trading day prior to the initial proposal. Pentwater has said the proposed premium is unacceptable for a mine that it expects to be “the third largest copper and gold mine in the world with a mine life in excess of 90 years.” Some analysts believe that Rio Tinto will need to increase its offer to win over some minority shareholders and so hold a direct majority stake in massive Oyu Tolgoi copper-gold mine in Mongolia. The global miner, which has mined copper from Oyu Tolgoi’s open pit for a decade, will have the task to conclude building the underground section of the mine. Once finished, it will lift production from 125,000–150,000 tonnes in 2019 to 560,000 tonnes per year at peak output, which is now expected by 2025 at the earliest. This would make it the biggest new copper mine to come on stream in several years.$