Top-News of the week:
Klondex Mines acquires two mines and generates up to 129.5 million CA$
Sensational news on Klondex Mines! A couple of days ago, the company announced that it has entered into a definitive membership interest purchase to acquire from Waterton Splitter, among other assets described below, the Hollister mine and the Esmeralda mine and ore milling complex located in Northern Nevada. The acquisition costs Klondex – besides a few other commitments – 80 million CA$ in cash and secured promissory notes, 5 million warrants and 2.6 million common shares. In connection with the Acquisition, the Company has entered into an agreement with a syndicate of underwriters who have agreed to purchase for resale, on a bought deal private placement basis, 20,000,000 subscription receipts of the Company at a price of 5.00 CA$ per Subscription Receipt, for aggregate gross proceeds of 100,000,000 CA$. This agreement has recently been expanded to a total of 114.5 million CA$ plus an option for additional 15 million CA$.
Therewith, Klondex gets two more mines, including a milling complex plus enough cash for expansion. A true company-maker deal for Klondex!
News: Klondex acquires Hollister Mine - 100 Mio CAD financing
Video: Newsflash #40
Market Watch:
Fed makes a fool out of investors again – Gold and silver continue upwards trend
The Fed continuous to makes a foo out of investors. After said to take interest rates up by three times at the beginning of this year it now seems that there will be only a maximum of two raising steps. Last Thursday, Fed boss Janet Yellen once more spoke about good conditions for the US economy on the short term, what she already did the last two and a half years before, to keep investors into the US$. If at all, the Fed may raise interest rates by December. They may not have the heart to do it before, in cause of the US presidential election, which would be a political issue, even Trump already said, that he would fire Yellen and replace her by a Republican. This unspeakable delay tactic provided a perfect scenario for the continuing of the precious metals upwards trend last week. Adding to that, we now see the effect of the reluctant development action of precious metals companies within the last years, in cause of lower prices. This for example already led to a silver supply deficit of around 120 million ounces in 2015, which will continue in cause of a recently exploding demand from the coin and bullion sector.
 Source: Endeavour Silver
Company News:
Pershing Gold starts 2016 drilling program
As Pershing Gold announced a few days ago, the company recently started its 2016 drilling program, which is currently planned to have two phases. Phase 1 is focused on increasing the resource at Relief Canyon and continuing to upgrade the project’s pit economics. Phase 2 of the Program is planned to start during the third quarter of this year. This phase will test targets currently being developed to the south and east of the existing pits. The 2016 Drilling Program implements the recommendations of the recently published PEA on Relief Canyon, which highlights that the gold resource at Relief Canyon continues to be open to the west, east and south, and therefore presents the opportunity for growth in the mineral resource through continued drilling. Therefore, the coming months shall bring continuous results.
News: PGLC drill start 2016
Video: PGLC company update July 2016
Caledonia Mining increases and upgrades resource base
Caledonia Mining recently announced an increase and upgrade to the resource base at its 49% owned subsidiary, the Blanket Mine in Zimbabwe. Based on the diamond core drilling that has been done at depth below the Blanket Section over the past half year, 343,000 tonnes have been upgraded from the Inferred to the Indicated Resource category and an additional 1,276,000 tonnes of new inventory has been added to Inferred Resources. This upgraded Indicated Resource of 343,000 tonnes, combined with the resources upgraded during 2015, have increased the quantum of reserves and indicated resources that may be used in the life of mine plan from 2,934,000 tonnes used for the Technical Report prepared by Minxcon in December 2014, to 4,889,000 tonnes currently and represents an increase of 67% per cent in terms of mineable tonnes and hence in the life of the mine.
News: CAL resource update July 2016
Video: Newsflash #41
EnWave Advances Yogurt Snack Development with Ultima Foods
EnWave recently announced, that the Company has extended its Technology Evaluation and License Option Agreement with Ultima Foods Incorporated. This next phase of development will include the installation of Radiant Energy Vacuum (“REV™’) machinery in an Ultima processing plant located in Quebec, Canada for a period of up to six months. EnWave is working with Ultima to advance the further development of new, innovative, shelf-stable yogurt snacks with the use of EnWave’s patented REV™ dehydration technology. This brings EnWave one more step into the market for yogurt products.
News: ENW and Ultima Foods
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