Mining & Resources
What GoGold’s Record Quarter Doesn’t Say Up Front
GoGold’s operating cash flow hit a record $26.3 million last quarter. Net income fell to $10.9 million from $16.4 million the quarter before. All-in sustaining costs per ounce very nearly doubled. The company reported all three numbers in the same release, and led with the first one. GoGold Reports Record Operating Cash Flow of $26.3…
Three Juniors Report Results: Namibia, New Brunswick, Nevada
A single drill hole running 831 metres is longer than most projects’ entire resource pit. This week one company reported exactly that, and the grades got better as the hole went deeper, not worse. Two smaller stories landed the same week, one a brand new discovery on the other side of the world, the other…
Montage Gold’s Koné Mine Runs 3 Months Ahead of Schedule
Montage Gold’s mill installation at its flagship Koné project finished three months ahead of schedule. So did the classification area. The company says 81% of an $885 million construction budget is already committed, and first gold is still on track for the fourth quarter. Koné Construction Runs Ahead of Schedule as Montage Nears First Gold…
Founders Metals Drills One of Its Strongest Holes Yet at Antino
Wheaton Precious Metals, IAMGOLD, Torex, and Artemis Gold all reported record quarterly production, cash flow, or earnings this week, the kind of results that come from years of infrastructure and ounces already in the ground. A tiny explorer in Suriname does not have any of that yet. What it does have, as of this week,…
Canada Nickel Wins Crawford Approval, Extends Loan for Third Time
Canada Nickel received the first mining approval issued under Canada’s amended Impact Assessment Act on July 31, an approval the company says clears the way toward $70 billion in GDP contribution over the life of its Crawford project. Three days earlier, the same company extended a bridge loan for the second time this year, paying…
America’s Antimony Push Gets a Pilot Plant. One Junior Is Already Finding More
The U.S. Army and Idaho National Laboratory opened a modular pilot plant in Idaho Falls built to process antimony, a mineral used in ammunition, batteries, and flame retardants that the United States currently gets almost entirely from China and Russia. A day earlier, a small New Brunswick company reported another round of high-grade antimony assays…
Evolution Mining Pays a 60% Premium for Carnaby
Evolution Mining agreed to pay a 60% premium to swallow a copper explorer it didn’t need to buy outright. In British Columbia, a different backer chose the opposite move: keep funding a junior’s drill program rather than acquire it, and one of those holes just returned 200 grams of gold per tonne over half a…
Three Juniors Extend Deposits: Chile, Ontario, and Peru
A drill hole is supposed to end. Sooner or later the bit passes out of the mineralized rock and into something barren, and that is usually where the story stops. This week, three companies kept hitting rock worth reporting almost as long as they kept drilling; in Chile, in Ontario, and in Peru, the numbers…
Barrick Takes 9.9% Stake in Kingfisher as Mount Polley Output Falls 64%
Barrick Mining agreed to buy a 9.9% stake in a junior explorer that has never produced an ounce of anything. The same week, British Columbia gave a different company permission to raise its tailings dam higher at the site of the worst mine disaster in Canadian history, on the same day that company reported its…
Goliath Expands Bonanza Zone, Revival Gold Hits Mercur Gold
Visible sulfides in a fresh drill core tell an experienced geologist most of what a lab will eventually confirm, weeks before the assays arrive. In British Columbia’s Golden Triangle, that visual read alone was enough to extend a known gold zone by 750 metres this week, with the market reacting before a single sample reached…
