The gold price bravely holds itself above the recent break-out mark of US$1,300, but didn’t come out unscathed within the last few days. This week’s focus lies on several speeches of leading Fed representatives, which could indicate another interest-rates raising for the near future. Geopolitically, the gold price recently gained some back wind from German elections and North Koreas suggested plans to detonate an H-bomb in the Pacific, but the 4 US$ plus didn’t really look strong. Therewith, it looks like as the gold price will not be able to hold the US$1,300 mark.
The price for one barrel of Brent Crude climbed to over US$59 on September, the 25th. The main reason for this could be the Kurdish referendum of becoming independent from the Iraq and - in conjunction with this event – the threat of the Turkish prime minister Erdogan to block oil deliveries from the Kurdish part of the Iraq. The main part of the north-Iraqi oil is being transported via pipelines through Turkey to Europe. A block could cause into a short-term supply deficit. Only short-term, because further rising oil prices would bring back the US-shale oil industry back into big business. The most recent rise is speculative run and may not be of longevity.
Alabama Graphite receives proposal for acquisition
EnWave: Next Technology Evaluation and License Option Agreement!
Rye Patch Gold: Florida Canyon Mine Operations on the rise!
As Alabama Graphite announced a short time ago, the company has received a non-binding proposal from a US-based, arm’s length, public, micro-cap, pre-revenue, junior mining development company relating to a potential offer for all of the issued and outstanding common shares in the capital of the Company. Pursuant to the terms of a confidentiality agreement and the Interested Party’s separate request, the Company is withholding the name of the Interested Party. According to publicly available records, the Interested Party has less than USD$7 million in unrestricted cash and a market capitalization of approximately USD$35 million.
The Interested Party’s indicative offer was conditional and non-binding. Pursuant to this offer, it was proposed that the shareholders of Alabama Graphite would receive no cash and would receive, in exchange for each common share of the Company, one-tenth (0.10) of one (1) common share of the Interested Party. In other words, under the terms of the proposal, ten (10) AGC Shares would be exchanged for one (1) common share of the Interested Party. If implemented, the shareholders of Alabama Graphite would become minority shareholders of the Interested Party.
On the first view it seems, that this proposal will not be attractive for Alabama Graphite’s shareholders.
News: Alabama Graphite Receives Unsolicited Indicative Proposal for Acquisition
Video: Newsflash #71 with Klondex Mines, Alabama Graphite & Sibanye Stillwater
A short time ago, Rye Patch Gold provided an update on operations at the Company’s flagship Florida Canyon mine in the state of Nevada.
Klondex Mines provides top-class drill-results from Fire Creek Mine
- Mine production in July and August totaled approximately 1.7 million tons, which exceeded budgeted production for those months by 48%;
- Maintenance issues with haulage trucks have been resolved and all eleven 785-CAT haul trucks were operational during July and August. Availability was 84% in July. All loading equipment is fully operational. Four 785C-Cat haul trucks are expected to arrive in Q4;
- Crushed tons exceeded budget by approximately 16% for July and August with a total of approximately 1.36 million tons placed on the leach pad during those months;
- The grade of material placed on the leach pad was 13% higher for the month of July than predicted and at the predicted grade for August. The transition from the Phase 1A pad to Phase 1B is now complete.
- Both the acid wash circuit and the regeneration kiln have been online and fully operational since mid-July;
- The rate of gold recoveries is consistent with modelled recovery curves.
A short time ago, Klondex Mines provided an update on the 2017 underground drill results at its Fire Creek Mine located in northern Nevada, USA.
- 31.21 g/t over 1.9 m
- 26.25 g/t over 5.3 m
- 10.95 g/t over 9.9 m
Klondex Mines strenghtens relationship with Shoshone people
- 28.69 g/t over 3.6 m
- 114.01 g/t over 0.4 m.
Sibanye-Stillwater: Positive development of the Blitz project
A couple of days ago, Klondex Mines announced the donation of the Rock Creek Lands to the Western Shoshone Indians of Nevada. The lands were transferred on August 17, 2017 and a celebration was held on August 18, 2017 in Battle Mountain, Nevada.
The Rock Creek Lands is an area along the Rock Creek Canyon about 20 miles northeast of Battle Mountain, Nevada. For thousands of years, the Rock Creek Lands were traditionally used by the Western Shoshone for healing ceremonies and a great source of medicinal plants.
With this gesture, Klondex Mines strengthens its good relationship with the Shoshone people.
News: Klondex Announces Donation of Lands to Western Shoshone
Sibanye-Stillwater launches convertible bonds
Osisko Gold Royalties: New top-class manager!
A few days ago, Sibanye-Stillwater announced positive progress on the development of the Blitz project at its US PGM operations in Montana.
Mineralized ore at the Blitz project has been intersected in a development end on the 5300 E level and 10-stope block area of the project. Sampling of the ore intersection has confirmed a grade of 2.3oz/ton (79g/ton) over the full intersection width of the orebody, totaling 3.8 meters. Proven and Probable reserve grades for the Stillwater mine, including the Blitz Project, as at 31 December 2016 were declared as 0.57 oz/ton (19.55 g/ton).
All rock from this initial ore intersection is currently being stockpiled. Project development is continuing, in order to establish the infrastructure required to commence with first production from the Blitz project.
News: Sibanye-Stillwater provides an update on the Blitz project
Ascendant Resources celebrates another month with a positive EBITDA!
A short time ago, Osisko Gold Royalties announced the appointment of Mr. Pierre Chenard to its Board of Directors.
Since 2011 Mr. Chenard has been the Vice President, Business Development and General Counsel, Aluminum at Rio Tinto Aluminum. Mr. Chenard has held progressive roles in both the corporate development and legal areas, including General Counsel, Rio Tinto Global Aluminum and Canada (2007-2011), Vice President and General Counsel at Alcan Inc. (2000-2007) and Vice President and Head of Corporate Development at Cambior Inc. (1988-2000).
A new top-class manager for Osisko, who will complement the board of directors with his business development, legal skills and experience!
News: Osisko Appoints Pierre Chenard to Board of Directors
Ascendant Resources Launches Virtual Tour of the El Mochito Mine
Ascendant Resources recently reported continued positive momentum in August with adjusted EBITDA of US$0.8 million at the El Mochito mine for the month, marking the second consecutive month of positive cash flow before changes in working capital since Ascendant assumed ownership of the El Mochito mine in December 2016.
The El Mochito mine milled 58,978 tons of ore in August averaging 1,903 tpd, an increase from 1,853 tpd in July and the second quarter average of 1,733 tpd. This reflects a 53% increase in ore throughput per calendar day per month since January 2017.
And it is also supporting management’s view that the turnaround of its Honduran mine is on a solid path to profitability.
News: Ascendant Resources Announces August 2017 Operational Results
Video: Ascendant Resources Corporate Video 2017
A couple of days ago, Ascendant Resources announced the launch of its 360° virtual tour of the El Mochito Mine located in Honduras. The El Mochito Mine’s virtual tour provides an in-depth view and description of the mine’s various operational areas which include mining, crushing, milling, processing and concentrate production.
Using the interactive map, users can tour the operations beginning underground where ore is mined and ending at the concentrate warehouse where final concentrate production is stockpiled before being shipped. Users can also take advantage of additional information popups at each of the stages which provide an explanation of the area they are viewing as well as extra photos which complement the entire 360° view.
This virtual tour will provide a unique viewing experience of the underground and surrounding operations.
News: Ascendant Resources Launches Virtual Tour of the El Mochito Mine