Mining Intelligence Articles & Market Analysis - Page 144
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Argyle Announces Renewal with Euro Digital Media
Argyle Resources extends a marketing deal with Euro Digital Media for one month, paying $500K, to promote its mineral exploration projects in North America.
Vizsla Royalties Announces Completion of Payment of Acquisition and Amendment to Compensation Plan
Vizsla Royalties completes a royalty acquisition in Mexico and amends its equity plan, doubling potential issuances, and grants stock options and RSUs to align staff with growth.
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ONGold Announces Filing of NI 43-101 Technical Report for the Monument Bay Gold Project and Provides Corporate Update
ONGold filed a NI 43-101 technical report on Monument Bay Gold Project, detailing historical mineral resources, extensive drilling, and exploration potential in Manitoba.
District Files NI 43-101 Technical Report for the Viken Deposit Mineral Resource Estimate in Sweden
District Metals filed a NI 43-101 report updating mineral resources at its Viken Project in Sweden, highlighting indicated and inferred resources for various minerals.
Kenorland Closes Atlantic Project Acquisition and Receives Notice of Exercise of Top-Up Right from Sumitomo and Centerra
Kenorland Minerals acquired 31,052 hectares of mineral claims in New Brunswick's Atlantic Project, enhancing its exploration portfolio for gold, polymetallic deposits, and other minerals.
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Nova Pacific Metals Initiates Call for Drill Bids on Proposed 8,000 Meter Drill Program at the Lara Project
Nova Pacific Metals Corp. has announced plans for a 2025 exploration program at the Lara Volcanogenic Massive Sulfide Project near Duncan, BC. Preparations include a permit application for a proposed 40-hole infill drill program, which has been accepted by the British Columbia Ministry of Energy, Mines and Low Carbon Innovation. The program aims to confirm previous drill results and prepare for an updated mineral resource estimate. The company has engaged Mineit Consulting Inc. to design the drill program layout, which is expected to provide sufficient data for a new resource estimate in line with National Instrument 43-101 requirements.
Valkea Resources Retains 100% Ownership of Palvanen Project in the Highly Prospective Central Lapland Greenstone Belt, Finland
Valkea Resources Corp. has announced that it will retain full ownership of the Palvanen Project in the Central Lapland Greenstone Belt, Finland. This decision comes after Kinross Gold Corp. decided not to continue with Stage Two commitments of the Earn-In agreement signed with S2 Resources Ltd. in 2021. Over CAD $5 million was invested by Kinross in the Palvanen Project, which generated 15 target areas for gold mineralization. The termination of the agreement also concludes Kinross' Right of First Refusal on Valkea's Paana Project and the Aarnivalkea discovery. Valkea now has complete control and ownership over both the Palvanen and Paana projects. The company is now evaluating Kinross' exploration
Astra Exploration Closes $2M Private Placement Financing; Michael Gentile Increases Ownership
Astra Exploration Inc. has completed a non-brokered private placement, selling 33,333,161 units for a total of CAD $1,999,989.66. Each unit includes one common share and a half warrant, allowing holders to buy another common share for $0.10 within a year. The shares will be on hold for twelve months, expiring November 7, 2025. Company insiders bought 8,333,332 units, triggering related-party transaction regulations, but the issuance was exempt from certain requirements due to the company's listing on the TSX-V and the fair market value being less than $2,500,000.
Caprock Announces Results of Annual General & Special Meeting of Shareholders
Caprock Mining Corp., a Canadian mineral exploration company, has announced the approval of all resolutions and election of nominated directors at its Annual General & Special Meeting. The company, which focuses on exploring battery metals in Newfoundland and precious metals in Ontario, has an option to earn a 100% interest in the Ackley Lithium-Tin-Molybdenum-REEs property in Newfoundland and owns several gold exploration properties in the Beardmore-Geraldton Gold Belt of Ontario.
Heliostar Announces Closing of Acquisition of Producing Mines and Development Projects in Mexico
Heliostar Metals Ltd. has completed the acquisition of all mining assets of Florida Canyon Gold Inc. in Mexico for a cash consideration of US$5,000,000. This includes the San Agustin mine, La Colorada mine, Cerro del Gallo project, and San Antonio project. As part of the transaction, an outstanding US$20 million of contingent payments by Heliostar to FCGI has been eliminated, along with up to US$150 million in conditional option payments and a 2% net smelter returns royalty on the San Antonio project. The acquisition was completed through the purchase of all issued shares of FCGI's Mexican subsidiaries.
Argyle Announces Agreement to Acquire Mineral Claims
Argyle Resources Corp. has signed a definitive agreement to acquire the Saint Gabriel Silica project in Quebec from Steadright Critical Minerals Inc. The acquisition, which is composed of 23 contiguous mineral claims, will cost Argyle $65,000 and 300,000 of its common shares. The shares will be released gradually over the course of a year. The claims are subject to a 2% net smelter returns royalty, half of which can be repurchased for $1,500,000. Argyle plans to commence initial exploration of the new acquisition soon.
Silicon Metals Corp. Begins Trading on Frankfurt Stock Exchange and Announces Amendment to Investor Relations Agreement with Omni8 Global
Silicon Metals Corp. has announced that its common shares have begun trading on the Frankfurt Stock Exchange under the symbol "X6U0". The company's shares are now listed on both the Canadian Securities Exchange and the Frankfurt Stock Exchange. This move is a strategic one for Silicon Metals, as the Frankfurt Stock Exchange is one of the world's largest trading centers for securities, with half of its participants from countries outside of Germany. The company also amended its investor relations agreement with Omni8 Communications Inc., with a new payment plan that includes a monthly cash fee of $7,500 and a one-time fee of CAD$26,250 paid on November 1, 2024.
Japan Gold Announces Results of 2024 Annual General Meeting of Shareholders and Conversion of Debentures
Japan Gold Corp. announced that all resolutions were approved at its Annual General Meeting, held in Vancouver on October 24, 2024. The company plans to convert its outstanding debentures worth $2,904,036 into common shares, leaving it with no remaining debentures or debt instruments. The directors, as listed in the information circular dated September 16, 2024, were re-elected and Davidson & Company LLP was reappointed as auditor. The shareholders also approved Equinox Partners Investment Management to become a new "Control Person" upon converting debentures issued in April 2024, totaling US$2,000,000, into 22,338,738 common shares. Following the conversion, Equinox will hold approximately
Florida Canyon Gold Announces Closing of the Sale of its Mexican Business Unit to Heliostar Metals
Florida Canyon Gold Inc. has completed the sale of its interests in the San Agustin mine, El Castillo mine, La Colorada mine, Cerro del Gallo project, and San Antonio project to Heliostar Metals Ltd. for a total cash consideration of US$10,000,000. The sale includes all issued and outstanding shares of the company's Mexican subsidiaries. As a result, Florida Canyon Gold Inc. no longer holds assets in Mexico, with Heliostar assuming all responsibilities for the Mexican Business Unit. This marks a significant step towards the completion of the company's plan of arrangement transaction.
Alpha Exploration Announces Results of Annual General Meeting of Shareholders
Alpha Exploration Ltd. held its annual general meeting on November 6, 2024, where all agendas were approved. About 55.10% of shares were represented at the meeting. Five directors were elected, and Davidson & Company LLP was appointed as the corporation's auditors. Additionally, the corporation's stock option plan was approved.
U.S. ‘Debt Tsunami’ Will Force Fed to Negative Rates, Push Gold to $8,000 | Brien Lundin
Brien Lundin warns the Fed's policies may lead to a crisis and $8,000 gold as investors seek safety....
EMX Royalty Announces Q3 2024 Results; Expects to Exceed 2024 Adjusted Royalty Revenue Guidance
In Q3 2024, EMX Royalty Corporation reported strong results due to robust royalty production and strong metal prices, with notable performance from Caserones, Gediktepe, and Leeville. The company continued to invest in generating and acquiring royalties worldwide, while partners expanded operations at existing mines and sought new opportunities. Compared to Q3 2023, adjusted revenue increased by 23% and adjusted royalty revenue increased by 45%. Significant investment was seen from Zijin Mining Group at Timok and increased exploration activity within EMX's existing royalty footprints. The company is expected to exceed its 2024 adjusted royalty revenue guidance range of $22,000,000 to $27,500,000.
Kapa Gold Reports Closing Private Placement
KAPA GOLD INC., a Canadian exploration company, has announced the successful closing of a non-brokered private placement, raising CAD$1,000,000 through the issuance of 20,000,000 units at CAD$0.05 per unit. Each unit includes a share and a warrant, allowing holders to purchase an additional share at CAD$0.10 within 36 months from November 7, 2024. The funds will be used for general working capital needs. The company's main project is the Blackhawk Gold Property in California's historic Blackhawk Mining District, where it aims to establish a resource and develop a sustainable extraction strategy.
IAMGOLD Reports Third Quarter 2024 Results
IAMGOLD Corporation has reported its financial and operating results for Q3 2024, expressing pride over stable production and cash flow growth. The company is moving closer to becoming a leading Canadian gold producer with a strong balance sheet. It finished Q3 with a year-to-date gold production of 490,000 ounces, putting them on track to meet their annual production guidance of 625,000 to 715,000 ounces. This has been driven by the performance at Essakane, Westwood, and Côté Gold. IAMGOLD's financial outlook continues to improve, with an intention to close out the gold prepayment arrangement by June 2025. The Côté Gold Mine reached commercial production on August 1, 202
Decade Announces Non-Brokered Private Placement
Decade Resources Ltd has announced a non-brokered private placement of flow-through shares to raise up to $910,000. The offering will consist of 18.2 million units, each containing one common share and one transferable common share purchase warrant. The Mineral Exploration Tax Credit (METC) provides tax benefits for investors in mining flow-through shares. In addition, the proposed 2022 Budget introduced a new 30-percent Critical Mineral Exploration Tax Credit for specified minerals used in the production of batteries and permanent magnets. The proceeds from the sale will be used for the company's projects in British Columbia.
Champion Bear Completes Shares for Debt Transaction
Champion Bear Resources Ltd. has settled and extinguished $961,673.45 of its outstanding debt by issuing 14,794,976 common shares to seven creditors. The debt settlement, approved by the TSX Venture Exchange, involves issuing shares to the company's President and CEO, directors, and the CFO. This move aims to conserve cash and improve the company's balance sheet. The shares issued will be subject to a four-month hold period.
Jim Rogers: Silver Beats Gold in Today’s Market—Here’s Why
Jim Rogers discusses global economy insights, investment strategies, and market perspectives in an interview....
RJK Announces Closing of Private Placement
RJK Explorations Ltd., based in Kirkland Lake, Ontario, has closed a non-brokered private offering of units, raising a total of $424,000. The company issued 12,114,285 units at a price of $0.035 each. Each unit includes one Class A common share and one Class A common share purchase warrant, with the warrant allowing the holder to buy one common share at $0.07 within five years. The funds raised will be used for diamond drilling of potential targets (70%) and general working capital (30%). The securities are subject to a hold period ending March 8, 2025, and the offering still needs final acceptance by the TSX Venture Exchange.
Silicon Metals Corp. Announces Acquisition of Both the Silica Ridge and the Longworth Silica Projects, as Well the Formation of Its Advisory Board
Silicon Metals Corp. has acquired options to purchase full rights in two silica projects in British Columbia - the Silica Ridge Silica Project and the Longworth Silica Project - through option agreements with Cronin Exploration Inc. The Silica Ridge property, covering 2,538.22 Ha, is known for a large quartzite occurrence, while the 3,863.06 Ha Longworth property hosts a sequence of sedimentary and volcanic rocks. Both properties show promising potential for expansion and exploration of high-purity mineralization.
Argo's September 2024 Oil Production and Update
Argo Gold Inc. produced a total of 3,565 barrels of oil in September 2024, averaging 118 barrels per day. The average oil price was CDN$68 per barrel, yielding a total oil revenue of $241,198 and a net operating cash flow of $163,738 for the month. The company also participated in the development drilling of a third oil well at Lindbergh in October 2024. Argo Gold is a Canadian company involved in mineral exploration, development, and oil production.
Ximen Mining Drilling Update Intersects West Zone Mineralized Breccia Brett Epithermal Gold Project-Vernon BC
Ximen Mining Corp. has announced the completion of hole 6 in its active drill program at the Brett epithermal gold project in Vernon, southern BC. The drilling was carried out from the same collar and azimuth as hole 5, but steeper at -65 degrees to intersect the West Zone breccia. The hole was drilled to test the mineralized breccia intersected in hole 5. The results show a zone of argillic alteration with iron oxide, which is devoid of sulfide mineralization due to oxidation. A mineralized breccia zone was also intersected, containing 5-10% pyrite associated with silica veinlets and breccia. Several intensely silicified zones with pyrite were intersect
Military Metals Announces Appointment of Mark Saxon to Its Board of Directors
Mark Saxon has been appointed as an independent director to the board of Military Metals Corp., increasing the board to five seats. Saxon has a technical background in critical metals, and has extensive capital markets experience in Canada and Australia. He has been involved in the exploration and resource geology field for 30 years, holding CEO and leadership roles in various Canadian and Australian public companies. In addition, he has been granted 200,000 common share stock options at $0.95 per share by the company.
GoldON Reports Drill Results from Its West Madsen Gold Project in Ontario's Red Lake Camp
Official news release from GoldON Resources Ltd.
Founders Metals Hits New Discovery in Third Lower Antino Drill Hole
Founders Metals Inc. has announced the results of its maiden drill program at the Antino Gold Project in Suriname. The company reported 81.9 meters of 1.01 grams per tonne gold within a broader, over 200 meter wide zone of anomalous gold. Following the success of the initial drilling results, Founders has expanded its Phase 1 Lower Antino drill program from 1,500 meters to 4,500 meters. New discoveries include 81.9 meters of 1.01 grams per tonne gold, including 26.0 meters of 2.36 grams per tonne gold. Assays are still pending for several drill holes. The company's CEO, Colin Padget, expressed excitement over
ALX Resources Corp. Announces Filing and Mailing of the Management Information Circular in Connection with Its Annual and Special Meeting of Shareholders to Approve the Acquisition of the Company by Greenridge Exploration Inc.
ALX Resources Corp. has announced that its management information circular and related materials for its Annual General and Special Meeting are now available on its website and SEDAR+. The meeting is scheduled for December 2, 2024, where shareholders will vote on the acquisition of all outstanding and issued common shares of ALX by Greenridge Exploration Inc. via a court-approved arrangement. The approval requires a 66⅔% majority vote. The details of the transaction were previously announced on October 11, 2024, and each ALX shareholder will receive 0.045 common shares of Greenridge for each ALX share held.
Ridgeline Minerals and Nevada Gold Mines Drill High-Grade "Carlin-Type" Gold Mineralization at the Swift Project, Nevada
Ridgeline Minerals Corp. has announced high-grade assay results for the first of three deep core holes at the Swift gold project, which is being operated in partnership with Nevada Gold Mines. The results showed 1.1m grading 10.4 grams per tonne gold within 2.7m grading 7.0 grams per tonne gold. The results indicate that the Swift project hosts high-grade gold mineralization comparable to operating underground mines in the Cortez District. However, more drilling is required to continue towards the core of the high-grade system. CEO Chad Peters will host a webinar to discuss the results on November 8, 2024.
Volta Agrees to Acquire the ZigZag Lithium Project Contiguous to Its Falcon West Lithium Discovery in Ontario
Volta Metals Ltd. has agreed to acquire a 100% interest in the ZigZag Lithium property in Toronto, Ontario. The property, which is adjacent to Volta's Falcon West Lithium Project, hosts the high-grade Dempster East Lithium Showing and has potential to host lithium, cesium, tantalum, gallium and niobium mineralization. The ZigZag Project covers an area of 2,710 hectares, extending the total area of Volta's lithium projects to 8,287 hectares. This makes it one of the larger prospective land packages within the Seymour-Falcon Lithium Belt.
First Majestic Announces Financial Results for Q3 2024 and Quarterly Dividend Payment
First Majestic Silver Corp. announced its Q3 2024 unaudited financial results, showing a 4% increase in silver equivalent production and a 10% increase in revenue compared to Q3 2023, reaching $146.1 million. This was mainly due to higher average silver prices, despite lower production levels at San Dimas. The company held 767,386 silver ounces in finished goods, worth an additional $23.8 million in potential revenue. Mine operating earnings grew by 119% to $28.5 million, largely driven by a 67% increase at Santa Elena due to higher silver prices.
Kirkland Lake Discoveries Reports 2024 AGM Results, Appointment of Stefan Sklepowicz as CEO, and Launch of "KLDC Treasure Hunters" Video Series
Kirkland Lake Discoveries has held its annual general and special meeting, during which shareholders approved all resolutions including the election of four directors, appointment of Crowe MacKay LLP as auditor, and approval of the company's Stock Option Plan. Over 18 million shares, representing 20.31% of the company, were voted. The company has also formally appointed Stefan Sklepowicz, who has been serving as interim CEO since May, as its Chief Executive Officer. Finally, the company has launched a new video series called "KLDC Treasure Hunters."
Summa Silver Outlines Plans for Upcoming Drill Program on the Extension of the Prolific Tonopah Mining District, Nevada
Summa Silver Corp. is set to begin a drill program at the Hughes Project at Tonopah, Nevada to evaluate the scale of significant silver-gold mineralization. The program involves approximately 7,000 m of drilling between Ruby and Sapphire discoveries. The objective is to test the high-grade mineralization across at least 600 m eastward from Ruby. The drill program, which is fully funded, is scheduled to begin in December.
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