Top-News of the week:
Osisko Gold Royalties secures top-class streaming-deal!
A couple of days ago, Osisko Gold Royalties announced that it has agreed to acquire a silver stream with reference to silver produced at the Gibraltar copper mine, located in British Columbia, Canada, from Gibraltar Mines Ltd., a wholly-owned subsidiary of Taseko Mines Limited.
The highlights are as follows:
- Osisko has agreed to acquire Taseko’s 75% share of payable silver production from the Gibraltar mine until the delivery of 5.9 million ounces of silver.
- Once Osisko has received 5.9 million ounces of silver, Osisko will receive an amount of silver equivalent to 35% of Taseko’s attributable Gibraltar mine silver production.
- Osisko will pay Taseko a cash consideration of US$33 million for the silver stream as an advance payment against the purchase price for the sale of silver to Osisko.
- The effective date of the transaction is January 1, 2017.
- Osisko will make ongoing payments of US$2.75 to Taseko, per silver ounce delivered.
Pershing Gold: Permitting process for Relief Canyon completed!
Another top-class news from Pershing Gold! The company recently announced that it has successfully completed the environmental permitting process and has secured all of the permits necessary to restart and expand the Relief Canyon Mine.
The permits fully authorize Pershing Gold to begin mining and heap leach processing of the Relief Canyon deposit. Mining activities and facilities covered by the permits include: expanding and deepening the open-pit mine, constructing a new waste rock storage area, significantly increasing the exploration drilling area to allow testing of high-priority targets around the existing pit, installing and operating the mercury emission control equipment in the processing plant, and operating the crusher and other equipment at the heap leach processing facilities.
The successful acquisition of these permits is a major milestone for the Company that significantly advances its ability to begin production at the Relief Canyon Mine!
News: Pershing Gold Announces Completion of the Environmental Permitting Process for the Relief Canyon Mine
Video: Pershing Gold: PFS & Production Decision Coming in Early 2017, Strong Cash Position
Market Watch:
First broker establishes penalty interest for private clients!
PDAC: We will be there for you!
From March the 5th till March, the 8th, world’s most important and largest mining conference PDAC will happen in Toronto. We will be there and contemporary inform you about the most interesting companies.
German commodity night still to come!
The next big event, the German commodity night (Deutsche Rohstoffnacht), organized by ourselves, will happen on April, the 7 th 2017 around the Invest in Stuttgart. Guest speakers will be Dr. Torsten Dennin, Head portfolio management Tiberius Asset Management, Zug, Hannes Huster, chief-editor and owner of the stock newsletter DER GOLDREPORT and Ronald Stöferle, fund manager Incrementum AG, Liechtenstein & gold analyst – author of „In Gold we trust“. In addition to this, two leading silver-/gold-producer, namely Endeavour Silver and Sierra Metals will present themselves. Please secure your ticket ASAP, as places are strictly limited.
Webpage: www.deutsche-rohstoffnacht.de
TV: http://www.rohstoffnacht-tv.de/
Company News:
Treasury Metals: Costruction decision in 2018?!
Treasury Metals recently announced a corporate update and project development strategy to further advance the Company’s Goliath Gold Project located in Northwestern Ontario. The Company aims to be in a position to make a construction decision during the third quarter of 2018 pending the successful recommendation of a Feasibility Study to be completed at the Goliath Gold Project.
The Company’s key objectives for Goliath and proposed timelines are provided, as follows:
- Updated PEA: An updated National Instrument 43-101 Preliminary Economic Assessment by CSA Global Canada Geosciences Ltd. will be released in early March 2017.
- Phase I 2017 Exploration Program: The Company recently commenced an initial Phase I 5,000 m condemnation and step-out exploration drilling program.
- Phase II 2017 Exploration Program: A Phase II 30,000 meter underground infill drilling program is planned to commence by mid-May, 2017.
- Feasibility Study: The Company anticipates commencing a Feasibility Study on the Goliath Gold Project starting in August 2017 targeting a completion date of June 2018.
- Permitting Progress: The Company continues to make permitting progress.
- Community Engagement: Aboriginal and Community engagement continues to progress for the stage of the project and long-term relationship agreements are anticipated as the above milestones are completed; and
- Option Exercise: Prior to March 17, 2017, the Company will exercise an option to repurchase an outstanding US$10/oz Au production fee from Extract Capital Master Fund Ltd. and Loinette Leasing Ltd. for total consideration of US$350,000.
Alabama Graphite Corp. meets with Senior United States Senator
Alabama Graphite recently announced that senior officials of the Company were asked to meet with the Honorable Richard C. Shelby, senior United States Senator for Alabama. Representatives of the Company, including President and Chief Executive Officer Donald Baxter, P.Eng. and Executive Vice President Tyler Dinwoodie, recently met with Senator Shelby in Coosa County, Alabama. Mr. Baxter and Senator Shelby spoke at length.
Topics discussed included AGC’s sourced-and-made-in-USA battery-ready Coated Spherical Purified Graphite (“CSPG”) business model, the Company’s U.S. Department of Defense (“DoD”) focused business strategy, the recently released ultra-high-purity 99.99997% graphite purity results via the Company’s proprietary, environmentally sustainable process, and the upcoming milestones necessary to advance AGC to production, including the Feasibility Study for the flagship Coosa Graphite Project.
Additionally, Mr. Baxter discussed the criticality of a secure, accessible domestic supply of battery-ready graphite from within the contiguous United States, in addition to the geopolitical and environmental issues with Chinese-produced graphite and, further, the fact that some Chinese graphite is being sourced from North Korea.
News: Alabama Graphite Corp. meets with Senior United States Senator Richard C. Shelby
Video: Alabama Graphite: The Most Advanced Graphite Project in the United States Silvercorp Metals recently announced a new resource estimate. It shows reserves of 95.02 million ounces of silver, 27.270 ounces of gold, 460.960 tons of lead and 115.690 tons of zinc for Silvercorp’s mines in the Ying district. Therewith, the company was able to expand its reserve base in comparison with the last estimate from 2014 by 15% for silver, 21% for lead and 22% for zinc, even though the company produced some 14.5 million ounces of silver since that time. The resources (including reserves) now stand at 128.3 million ounces of silver, 47.000 ounces of gold, 630.600 tons of lead and 214.350 tons of zinc. In addition to that, the company has inferred resources of over 76 million ounces of silver, plus gold, lead and zinc. This immense expansion of resources resulted from an extensive exploration program. From 2013 till 2016, the company drilled more than 225,000 meters and tunneled additional 128,000 meters. Thereby, it identified nearly 200 veins, of which the majority has not yet been completely outlined. Silvercorp thinks, that the current reserves will last until 2036, whereat there is an enormous potential for additional reserves.
News: SILVERCORP REPORTS 15%, 21% AND 22% INCREASES IN PROVEN & PROBABLE Reserves
Video: Silvercorp Metals: Lowest Cost Silver Producer at 3$pOz in China A couple of days ago, Sibanye Gold announced that it has received the approval of the South African Reserve Bank, as required in accordance with the Exchange Control Regulations of South Africa, with respect to the proposed acquisition of Stillwater Mining Company. The Transaction remains on schedule for closure during the second calendar quarter of 2017 and remains subject to the approval of the Transaction by the holders of a majority of Stillwater’s outstanding shares, the approval of the Transaction by the holders of a majority of Sibanye’s shares present and voting, the approval of the related issuance of shares by Sibanye in the context of a potential rights issue by the holders of at least 75% of the shares present and voting, CFIUS clearance and other customary conditions.
News: Sibanye receives approval
Furthermore, Sibanye Gold was able to announce a record annual operating profit for 2016!
The most important features for the year ended 31 December 2016 were as follows:
- Record operating profit of R10.5 billion (US$717 million)
- Headline earnings of R2.5 billion (US$169 million) - represents a 269% increase year-on-year
- Normalized earnings per share increased by 196% to 397 cents (ZAR) (27 US cents)
- Total dividend of 145 cents per share (ZAR) for the year, representing 37% of normalized earnings
Sierra Metals: New significant high-grade zone at Cusi Silver Mine discovered!
A few days ago, Sierra Metals announced the discovery of new high grade silver intercepts occurring in the Santa Rosa de Lima complex located within the current Cusi Mine operational area. The Santa Rosa de Lima complex lies within a regional structure extending some 64 km. Extension on the Cusi property has an anticipated length of 12 kilometers. The discovery comes as part of a reinterpretation of the Hydrothermal model and a drilling campaign consisting of 15,000 meters which began in December 2016. To date, the Company has drilled 10,200 meters or about 79% of the planned program which is expected to be completed by the end of March 2017.
The mineralization at the Santa Rosa de Lima structure is located 100 meters below the surface, and can occasionally be observed at surface at the intersections of veins like “Promontorio” and “Santa Edwiges”.
This is a truly exceptional development for the Cusi Mine and has the ability to be transformational to current operations. There is a potential to add significant tonnage and ounces with much higher grades and notably increased widths to the current resource base. The discovery of a high-quality silver resource of this scale within an existing operation should have a very favorable economic outcome.
Sierra Metals spins out Cautivo Mining
A short time ago, Sierra Metals announced that shareholders have overwhelmingly voted at a special meeting of shareholders on February 16, 2017, to spin-out to existing shareholders its 100% owned Las Lomas Project, into a new public entity called Cautivo Mining Inc. by approving a reduction in the capital of the common shares of Sierra Metals for the capital assigned to Cautivo Mining. On the completion of the Spin-out, Cautivo who are the developer of the properties' main asset will be its indirect interest in the Las Lomas Project consisting of approximately 32,000 hectares of greenfield exploration properties located in northern Peru.
The Las Lomas Project is not considered to be part of the Company's core focus and management, as well as the Board of Directors, believe the value of the Las Lomas Project is not being fully reflected in the current share price of Sierra Metals. The Spin out of properties reduces concession maintenance cost to Sierra Metals and allow for the accelerated exploration and development of properties by Cautivo Mining and thus enhancing value for Sierra shareholders.
News: Sierra Metals to spin out Cautivo Mining as new public entity
Video: Sierra Metals: Upgrading Mines & Increasing Poly Metallic Production
A couple of days ago, EnWave reported the Company’s consolidated interim financial results for the first quarter ended December 31, 2016. The Company reported consolidated revenue of CA$3,467,000, and a consolidated net loss of CA$618,000 for the first quarter of fiscal year 2017.
These results are just a snap-shot on the way to get into the black again. At least the company was able to achieve some significant improvements in this quarter.
Significant achievements in the first quarter include:
- Receiving a purchase order for a 100kW nutraREV® machine from Ereğli Agrosan;
- Signing a royalty-bearing Commercial License Agreement with Van Dyk Specialty Products and receiving a purchase order for a 60kW nutraREV® machine;
- Receiving a purchase order for a third small-scale REVTM machine from Natural Nutrition;
- Receiving a purchase order from Bonduelle for upgrades to increase the capacity of its 120kW quantaREV® machine;
- Signing Technology Evaluation and License Option Agreements with three new prospective royalty partners to evaluate the use of EnWave’s REVTM dehydration technology for meat products, pulse crop products and seafood products; and
- Advancing the design and fabrication of REV™ machines for two pharmaceutical partners.
Klondex Mines once again with top-class drill results from Fire creek!
A few days ago, Klondex Mines provided results on the completed 2016 surface exploration drill program at its Fire Creek Mine located in northern Nevada, USA.
The most important results were as follows:
- FCC-0068: 0.43 opt Au over 17.1 ft, or 14.6 g/t over 5.2 m – West Zone
- Including 3.92 opt Au over 1.0 ft, or 134.5 g/t over 0.3m
- FCC-0065: 0.95 opt Au over 5.0 ft, or 32.5 g/t over 1.5 m – West Zone
- Including 2.36 opt Au over 1.8 ft, or 80.9 g/t over 0.5 m
- FCC-0061: 0.56 opt Au over 1.9 ft, or 19.1 g/t over 0.6 m – East Zone
- FCC-0050: 0.28 opt Au over 1.2 ft, or 9.5 g/t over 0.4 m – East Zone
- FCC-0057: 0.24 opt Au over 3.7 ft, or 8.3 g/t over 1.1 m – North Expansion
Therewith, the 2016 surface drill program at Fire Creek ended successfully with follow up drilling in the West, East, and North Zones. These drill results continue to extend mineralization along strike and vertically and demonstrate the potential to contain high-grade mineralization, similar to what is currently being mined. Geophysics are proving to be an effective exploration tool in the Fire Creek District. Klondex has numerous similar untested geophysical signatures in the district suggesting the potential for substantial resource expansion in the near future.
News: Klondex Announces Additional Surface Drilling Success at Fire Creek
A short time ago, Fission Uranium announced results from ten holes at its PLS property, host to the Triple R deposit, in Canada's Athabasca Basin region: five holes drilled on the R1620E zone, three drilled on the R840W zone and two regional holes drilled 660m west of the R840W zone, towards the high-grade boulder field.
Most important perception: Regional drilling (hole PLS17-514, line 1665W) has hit mineralization on a 660m step out from R840W zone, with 1.0m anomalous interval (117.5m – 118.5m) with a peak of 3200cps over 0.5m.
One can consider this to be a new area of mineralization which will be targeted for aggressive follow-up drilling.
News: Fission Discovers New Area with 660m Step out West of R840W Zone
Video: Fission Uranium: "Everybody Is Watching The Uranium Spot Price Instead Of The Long Term Price"
Birimian Limited recently announced additional results from the second phase drilling program at the Goulamina deposit within its 100%-owned Bougouni Lithium Project in southern Mali.
The latest assay results confirm the discovery of a third mineralized zone at Goulamina. This new and previously untested trend is situated approximately 200m to the south of, and parallel to, the West Zone. Results included:
- 25m @ 1.45%Li2O from 25m (GMRC068)
- 29m @ 1.65 % Li2O from 13m, and 36m @ 1.87 % Li2O from 63m (GMRC069)
- 34m @ 1.42 % Li2O from 28m (GMRC070)
- 26m @ 1.89% Li2O from 25m. and 12m @ 1.74% Li2O from 63m, and 12m @ 1.39% Li2O from 78m (GMRC071)
- 32m @ 1.85 % Li2O from 45m, and 26m @ 1.95 % Li2O from 80m (GMRC073)
GoldMining: named to the 2017 TSX Venture 50
GoldMining Inc. recently announced that it has been named to the 2017 TSX Venture 50, an annual ranking of top-performing companies on the TSX Venture Exchange over the last year. The Company was ranked second overall in the mining sector.
Each year, the TSX Venture 50 ranking showcases listed companies that have shown notable results in key measures of market performance. The companies included in the 2017 TSX Venture 50 were selected based on three equally weighted criteria: market capitalization growth, share price appreciation and trading volume. It can be anticipated that the company will extend that same strategy into 2017 by targeting and acquiring additional gold projects of merit, where it sees potential for substantial resource growth.
News: GoldMining Inc. 2017 TSX Venture 50
Video: GoldMining: "We are Building Leverage to Higher Gold Price"
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