Canadian Mining Journal Staff

Strong headwinds for gold in 2014

Challenging macro-economic conditions are likely to drive gold prices lower in 2014, commodity specialists at Bank of America Merrill Lynch and Credit Suisse say, and both banks agree the precious metal could test the US$1,000 per oz level...

Canadian Mining Journal Staff | January 13, 2014 | 4:03 pm

AWARDS: PDAC to honour six leaders in March

TORONTO – The Prospectors and Developers Association of Canada has selected six industry leaders to receive its highest honours at the annual award banquet on March 4, 2014.

Canadian Mining Journal Staff | January 9, 2014 | 4:03 pm

GOLD-COBALT: Fortune receives interim permit for NICO site work

NORTHWEST TERRITORIES – Fortune Minerals of London, ON, has received the staging (interim) land use permit for the NICO mine from the Wek'èezhìi Land and Water Board. The mine site is 160 km northwest of Yellowknife, near...

Canadian Mining Journal Staff | January 9, 2014 | 4:01 pm

GOLD: Goldcorp looks ahead to 2014 production, costs

VANCOUVER – Coming off a Q4 production record of 767,700 oz of gold, Goldcorp says 2013 output totaled 2.67 million oz, up 11% from a year earlier. Better yet, production is expected to grow between 13% and 18% in 2014 to the...

Canadian Mining Journal Staff | January 9, 2014 | 3:57 pm

GOLD: Klondex raises C$42.6M for Midas mill purchase

NEVADA – Vancouver-headquartered Klondex Mines has closed a C$42.6 million private placement by selling 29.4 million subscription receipts at a price of C$1.45 each. The proceeds from which will be used to partially fund the purchase of...

Canadian Mining Journal Staff | January 9, 2014 | 3:55 pm

Guest editorial: A heap of trouble for the junior sector

A pillar of the Toronto mining community, Ed Thompson kicked off the new year by resigning from his many directorships in junior mining companies. As he tells The Northern Miner, part of the reason for doing so all at once was that he is...

Canadian Mining Journal Staff | January 9, 2014 | 3:54 pm

BASE METALS: Hudbay offers 2014 forecast, spending

TORONTO – Hudbay Minerals is making plans for capital expenditures of $904 million in growth initiatives next year, plus $20.4 million on exploration. The announcement comes as both the Reed copper and Lalor gold-zinc mines are expected...

Canadian Mining Journal Staff | January 8, 2014 | 4:11 pm

COPPER: Tuquoise Hill makes US$2.4B rights offering

VANCOUVER – Turquoise Hill Resources, operator of the Oyu Tolgoi copper-gold mine in southern Mongolia, has completed a rights offering expected to gross US$2.4 billion. Slightly more than 1 billion common shares will be issued.

Canadian Mining Journal Staff | January 8, 2014 | 4:09 pm

NEW NAME: Genivar now WSP Global

MONTREAL – Canadian engineering company Genivar has changed its name to WSP Global Inc. to reflect its worldwide operations. Genivar shareholders  have received one WSP Global share for each Genivar share held.

Canadian Mining Journal Staff | January 8, 2014 | 4:05 pm

TNM’s 2013 Mining Persons of the Year: Fission’s Ross McElroy and Dev Randhawa

Since the days of the Manhattan project, there have been three conventional rules for finding uranium mineralization in Saskatchewan: it occurs in the Athabasca Basin, usually in the lowest sandstone unit that’s in contact with the...

Canadian Mining Journal Staff | January 8, 2014 | 4:03 pm

GUEST COMMENT: OMS’s video contest migrates to South Australia

If indeed “imitation is the sincerest form of flattery,” then the Ontario Mining Association has a big fan in an antipodean counterpart. The South Australian Chamber of Mines and Energy (SACOME) has recently launched “Dirt TV...

Canadian Mining Journal Staff | January 7, 2014 | 3:57 pm

PALLADIUM: NAP targets 170,000 to 175,000 oz in 2014

ONTARIO – Along with guidance figures for 2014, Toronto-based North American Palladium (NAP) has published capital expenditure and exploration forecasts for its Lac des Iles palladium mine 85 km northwest of Thunder Bay.

Canadian Mining Journal Staff | January 7, 2014 | 3:55 pm

GOLD: Lake Shore sets cash flow, production records

ONTARIO – Lake Shore Gold Corp., operator of the Timmins West and Bell Creek gold mines near Timmins, posts its first ever quarter of net free cash flow, president and CEO Tony Makuch said in a release. Cash and bullion at Dec. 31, 2013,...

Canadian Mining Journal Staff | January 7, 2014 | 3:54 pm

GOLD: Borden yields more high grade for Probe

ONTARIO – High grade assays keep on coming for Probe Mines of Toronto from its Borden gold project 160 km southwest of Timmins. Infill drilling was conducted in both the High Grade zone and to assess a potential open pit zone.

Canadian Mining Journal Staff | January 7, 2014 | 3:52 pm

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