Top-News of the Week:
GoldMining to acquire Bellhaven!
Heavy news on GoldMining Inc.! As the company recently reported, it is going to acquire Bellhaven Copper and Gold Inc.
Bellhavenꞌs flagship La Mina Project, one of the highest-grade gold porphyry projects in the Americas, is located southeast of GoldMiningꞌs Titiribi Project in the Mid Cauca Belt, which is seeing increased activity by companies such as Cordoba Minerals and HPX Exploration (San Matias), Continental Gold (Buritica), IAMGOLD and Gran Colombia (Zancudo), and AngloGold Ashanti and B2Gold (Nuevo Chaquiro).
Bellhaven published a pit-constrained resource at a 0.25 g/t gold cut-off for the Middle Zone and La Cantera deposits in October 2016 totaling 1.01 million ounces gold equivalent grading 1.12 g/t gold equivalent in the indicated category and 0.43 million ounces gold equivalent grading 1.07 g/t gold equivalent in the inferred category.
Bellhaven shareholders will receive 0.25 GoldMining shares for each Bellhaven share held, and overall the transaction represents approximately 6% dilution to GoldMining shareholders for a transaction value of $13.5 million based on GoldMiningꞌs share price as of the close on April 11, 2017.
After the completion of the transaction, GoldMining will control 11.4 Moz AuEq (measured and indicated) and 13.0 Moz AuEq (inferred) across its global portfolio.
News: GOLDMINING TO ACQUIRE BELLHAVEN AND ITS COLOMBIAN GOLD-COPPER PROJECT
Video: GoldMining: "We are Building Leverage to Higher Gold Price"
Market Watch:
Gold breaks out from recent downwards trend and easily jumps above 200-day-line - multi-year downwards trend line before fall!
On Wednesday, the gold price easily jumped above the 200-day-line and therefore out of the recent downwards trend, which was created in August 2016. An absolute bullish signal, which could lead to a little, non-expected (by mainstream) rally. The gold price was not able to pass the multi-year downwards trend line at US$1,295, but should this happen, gold may start a major upwards trend.
Video: Gold 2017 And Sharia Gold Code
Silver re-conquers 200-day-line! – Breakout of multi-year downwards trend within the bounds of possibility!
There are similar signs for the silver-price. It was able to re-conquer the 200-day-line, which was in danger the days before. The multi-year downwards trend-line at US$18.70 is percental a little bit more far away than at the gold-price, but still in a short distance. Altogether it is going to stay exciting for the precious metals.
Video: Invest In Precious Metals In 2017
Company News:
Aguia Resources: Listing at the TSXV and consolidation of shares
On April, the 4 th, 2017, a majority of Aguia shareholders voted for a listing at the TSXV-exchange and a therefore necessary share consolidation of one new Aguia share for five old ones. The normal trading will commence on April, the 20 th, 2017.
Therewith, Aguia Resources should get more awareness on the north American market on the one hand and a much slimmer share structure on the other hand.
News: AGUIA Shareholders Approve Plans to Move Forward with TSXV Listing A couple of days ago, Pershing Gold announced that it has entered into a Mining Sublease with Newmont USA Limited which further consolidates the Antelope Springs mining district in the Pershing Pass area south of the Relief Canyon Mine. This Sublease is the last of seven parcels that are needed to consolidate the highly prospective Blackjack Project Area. The Blackjack Project is comprised of seven historic mercury and antimony mines.
The consolidation of this historic mining district for the first time is the crucial catalyst for the Company’s district-wide gold exploration efforts.
News: Pershing Gold Consolidates New District Through Land Transaction A few days ago, Uranium Energy announced that the Environmental Protection Agency has approved the 5,384-acre aquifer exemption request for the Company’s Burke Hollow Project in South Texas. Burke Hollow is the third project to be developed as part of the Company’s hub-and-spoke strategy that is designed for low-cost in-situ recovery production to be processed at the nearby Hobson plant.
The approval comes shortly after the project’s 11,000-acre Mine Area Permit was approved in December 2016 by the Texas Commission on Environmental Quality (“TCEQ”). Two additional disposal well permits were also issued in July 2015 to make up three of the four major permits required for the project. The last major approval is the Radioactive Material License which remains under technical review with the TCEQ.
In addition to this, Rodman & Renshaw reiterated its Buy rating with a US$4.20 per share price target on UEC.
News: Uranium Energy Corp Receives Aquifer Exemption Approval for its Burke Hollow ISR Project in South Texas
Research: Rodman & Renshaw Research gives price target of 4.20 $ for UEC A short time ago, Sierra Metals announced the appointment of Igor Gonzales as President and Chief Executive Officer, effective May 1, 2017. He has served on the Sierra Metals Board of Directors since September 2013. Mr. Gonzales, born in Peru, has over 30 years of experience with major mining companies with world-class mineral assets. Mr. Gonzales worked in Minas Buenaventura as Vice President of Operations from November 2014 to April 2017, worked for Barrick Gold Corporation from 1998 to 2013, first as Vice President and General Manager of Pierina Mine in Peru, then President of Barrick South America, and most recently as Chief Operating Officer for Barrick Gold Corporation. Mr Gonzales also worked for Southern Peru Copper Corporation in Peru. Mr. Gonzales has a Bachelor of Science degree in Chemical Engineering from the University of San Antonio Abad in Cusco, Peru, and was a Fulbright Scholar at the New Mexico Institute of Mining and Technology, where he earned a Master of Science degree in Extractive Metallurgy.
A very experienced man, who will successfully develop Sierra Metals.
News: SIERRA METALS ANNOUNCES APPOINTMENT OF IGOR GONZALES AS NEW PRESIDENT AND CEO EFFECTIVE MAY 1, 2017 A couple of days ago, Alabama Graphite announced, that the Company’s 100% wholly owned subsidiary — Alabama Graphite Company, Inc. (“AGC USA.”), a corporation registered in the state of Alabama, USA — has entered into a research partnership with the United States Department of Energy’s Oak Ridge National Laboratory (“ORNL”) of Oak Ridge, Tennessee, USA. The Company is working with ORNL’s lithium-ion battery team, under the laboratory’s Sustainable Transportation Program. AGC USA will be applying for DOE grants and other US-based research-and-development funding initiatives, having ORNL as the participating laboratory.
ORNL’s Li-ion battery team’s internal initiative is three-fold:
1.) Reduce battery costs;
2.) Increase energy capacity; and
3.) Promote domestic production of Li-ion batteries and the related supply chain.
Therewith, Alabama Graphite not only secures research expertise, but also access to important subvention funds.
News: Alabama Graphite Corp. Announces Research Partnership with United States Department of Energy’s Oak Ridge National Laboratory
Video: Graphite is the hidden star!
A few days ago, Osisko Gold Royalties provided an update on its investment portfolio, which had an estimated fair value of approximately CA$407.9 million as at April 7, 2017. The acquired cash price of the portfolio is approximately CA$233.2 million. As part of the value creation process, the company has committed capital and people to advance exploration and development projects. As part of the company‘s investment in these projects (e.g. Osisko Mining, Barkerville Gold Mines and Falco Resources), it has secured royalties, streams and rights to participate in future financings.
All projects will provide a strong platform to generate future revenues.
News: Osisko Gold Royalties Provides Update on Investment Portfolio / Fair Value $407.9 Million
Video: Gold Royalties
A couple of days ago, Endeavour Silver reported the production results for the First Quarter, 2017 from the Company’s three silver-gold mines in Mexico: the Guanaceví mine in Durango State and the Bolañitos and El Cubo mines in Guanajuato State. Silver production in the First Quarter, 2017 was 1,076, 974 ounces (oz) and gold production was 11,724 oz resulting in silver equivalent production of 1.9 million oz using a 70:1 silver gold ratio.
Production was lower in Q1, 2017 compared to Q1, 2016 due to significant differences in the annual mine plans. Last year, production was highest in Q1 and lowest in Q4 due to the decision at low metal prices in January 2016 to cut spending on exploration and development at all three mines, which reduced mine access to reserves and therefore reduced metal production. Operational issues at the Guanaceví mine also had an impact on production in the second half of 2016.
Production in 2017 is expected to rise throughout the year. Over the past nine months, management has implemented operational changes and made investments to improve the pumping, ventilation and electrical systems at Guanaceví to remediate the operational challenges encountered in 2016. Exploration and development programs resumed last July in order to steadily regain full mine access to the reserves.
Endeavour Silver Produces 1,076,974 oz Silver and 11,724 oz Gold (1.9 Million oz Silver Equivalents) in the First Quarter, 2017
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