Mediterranean gets unsolicited bid from mystery Aussie Jr.
Mediterranean Resources (MNR-T) has received a takeover offer from an Australian exploration company that CEO Christopher Ecclestone says has requested confidentiality.
Gold
Kinross abandons Fruta del Norte
VANCOUVER — Kinross Gold (K-T, KGC-N) is walking away from its development-stage Fruta del Norte gold project in Ecuador, five years after spending just under $1 billion on Aurelian Resources to acquire the project, and two years after…
Editorial: Fruitless del Norte
Kinross Gold’s abandonment of the Fruta del Norte gold project in the face of an obstinate Ecuadorian government is a sad end to what could have been a wonderful, mutually beneficially relationship between Canadian miners and their…
Brazil production in sight, Carpathian says
Gold production at Carpathian Gold’s (CPN-T) Riacho dos Machados project in Brazil will start at the end of the third quarter of this year, making the Toronto-based junior the South American nation’s newest producer of the metal.
Letter to the editor: Paper pressure keeping gold, silver down
In 1980 the physicals led paper gold and silver higher. Now 33 years later, the paper is leading the spiraling physicals lower.It was January 1980 when silver touched US$50 an oz. and was hovering in the US$40s. Henry Jarecki was the head of…
New Gold eliminates Mesquite hedges for US$65.7 million
VANCOUVER — Vancouver-based producer New Gold (NGD-T, NGD-X) has suffered similar market devaluation to its peers in recent months, with its shares dropping 40% or $4.44 since early January as gold prices have declined. However, the…
Detour turns to equity markets as share price falls 65%
VANCOUVER — The soup has gotten a lot thinner for many companies in recent months, with falling metal prices and skittish investors driving equity valuations down across the board. And that reality set in for newly minted Canadian…
NGEx wraps up campaign with high-grade hit
VANCOUVER — Copper explorer NGEx Resources (NGQ-T) capped off a busy drill season in April, with the Vancouver-based company completing 44,000 metres over a promising property package that straddles the Chile-Argentina border, southeast…
Chile fines Barrick US$16M for violations
VANCOUVER — Chile’s environmental regulator has imposed its maximum fine on the world’s largest gold miner after a four-month investigation revealed Barrick Gold (ABX-T, ABX-N) committed “very serious” violations…
Euromax forges ahead in southeastern Europe
VANCOUVER — It has been a busy year so far for Vancouver-based explorer Euromax Resources (EOX-V) and its diverse portfolio of base and precious metal projects across emerging jurisdictions in southeastern Europe. Euromax has locked down…
Santo Domingo feasibility expected in less than a year
When Capstone Mining’s (CS-T) Santo Domingo iron oxide-copper-gold project in Chile eventually enters commercial production in 2017 or 2018 — at an estimated capital cost of between US$1.5 billion and US$1.8 billion — the…
Atna sinks on Pinson review
Atna Resources (ATN-T) took a beating after notifying the market that it would reduce underground mining rates at its Pinson gold mine near Winnemucca, Nev.