Mining Intelligence Articles & Market Analysis - Page 151
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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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Nine Mile Metals Initiates Drilling on California Lake South High Priority Target Plate A with 850 Meter Diamond Drill Hole EEX-P01
Nine Mile Metals Ltd. has started its Phase 2 Drill Program at California Lake, testing Priority Plate Target A. The program includes drilling three major holes (A-B-C) at California Lake South, with Plate A being a large, deep conductor. The drilling locations, defined by EarthEx Geophysical Solutions, have minimal previous drilling. The maximum drill hole depth will be 850 meters. Plates B and C are also significant targets, with planned drill hole depths of 300 meters and 500 meters respectively. The drilling parameters for Plates B and C were designed by EarthEx.
Pasofino Gold Announces Closing of Non-Brokered Private Placement for Gross Proceeds of Approximately C$3.3 Million
Pasofino Gold Limited has completed the initial part of its non-brokered private placement, raising approximately C$3.3 million (US$2.4 million) through the sale of units at C$0.70 (US$0.52) each. The company issued a total of 4,770,767 common shares and 2,385,383 warrants. A second and final closing, involving an additional 36,000 common shares and 18,000 warrants, is expected on October 31, 2024. The newly-appointed director, Brett Richards, contributed a lead order of 578,338 units. The raised funds will be used for the advancement of the Dugbe Gold Project and for general working
Appia Announces Closing of $1,070,000 Non-Brokered Private Placement
Appia Rare Earths & Uranium Corp. has successfully closed its non-brokered private placement, totalling $1,070,000. This includes the sale of 9,531,250 working capital units at $0.08 per unit, amounting to $762,500 and 3,075,000 critical mineral flow-through units sold at $0.10 per unit, amounting to $307,500. Each unit sold includes one common share of the company and a warrant to purchase another share at a specific price until October 29, 2026. Finders involved in the transaction were paid $3,660 in cash and issued 45,750 broker units.
Ivanhoe Mines Issues Third Quarter 2024 Financial Results, and Review of Construction and Exploration Activities
Ivanhoe Mines reported a Q3 2024 profit of $108 million, up from $67 million in Q2 2024. It also reported an adjusted EBITDA of $160 million for Q3, compared to $203 million in Q2. Kamoa-Kakula, an Ivanhoe project, produced a record 116,313 tonnes of copper for Q3 and sold a record 103,106 tonnes, bringing in a quarterly revenue of $828 million. The company's cost of sales was $1.80 per lb of copper, with a cash cost of $1.69 per lb. The company's largest smelter project in Africa is on schedule for completion this year. Additionally, Kipushi, another
Cosa Resources Intersects Basement-Hosted Radioactivity at the 100% Owned Ursa Project, Athabasca Basin, Saskatchewan
Cosa Resources Corp. has announced the discovery of multiple instances of basement-hosted radioactivity in the final drill hole of its fall program at the Ursa uranium Project in the Athabasca Basin, Saskatchewan. The drilling revealed multiple zones of radioactivity and significant sandstone alteration. The company also confirmed the effectiveness of Ambient Noise Tomography (ANT) as a prioritization tool and identified additional target areas. The results significantly upgrade the Ursa Project's potential and demonstrate the prospectivity of the Cable Bay Shear Zone. The company plans to return for follow-up drilling based on these results.
Sanu Gold Announces Commencement of First-Ever Drill Program at its Diguifara Gold Permit
Sanu Gold Corporation has announced the start of its phase 1 drilling plans for the Diguifara project in Guinea, which is located 20km from the Siguiri gold mine owned by AngloGold Ashanti. The drilling will be carried out by Capital Limited, who participated heavily in Sanu Gold's last financing. The drilling started on October 28, with plans for a minimum of 2,000m of air core and RC drilling in 19 holes. The Diguifara permit features three undrilled, priority targets covering a cumulative strike length of 3.2km. The targets were chosen based on their strong auger gold results and continuity of geochemical and geophysical trends.
Canstar Receives $410,000 from Early Warrant Exercises & Provides Corporate Updates
Canstar Resources Inc. has issued 8.2 million common shares to investors following the early exercise of warrants from its January 2024 financing, resulting in total proceeds of $410,000. The company plans to use this for general working capital. Furthermore, 400,000 stock options have been granted to selected employees, which are exercisable until August 2029. Some employees have cancelled a total of 450,000 previously issued options. Canstar Resources Inc. is an exploration company focusing on critical minerals and gold.
Altamira Gold Identifies Third Centre of Hydrothermally Altered and Veined Porphyry Rocks at the New Espirro Target, Within the Cajueiro Gold District
Altamira Gold Corp. has made further progress in its evaluation of porphyry-related gold mineralization within the Cajueiro project area. Fieldwork at the Espirro target identified veined and altered porphyry intrusive rocks within an area of historic placer workings. Large blocks of float up to 50cm in size indicate a short transport distance from source. A magnetic low anomaly was identified, correlating well with the area of historic placer workings. The rock samples suggest that further porphyry subcrops may be concealed beneath the historic workings. CEO Mike Bennett noted the potential for additional mineralized porphyry intrusives in a prospective east-west corridor. Espirro is the third intrusive porphyry target identified within the Caj
Canter Completes Amendments to Columbus Project Agreements
Canter Resources Corp. has announced amendments to the underlying agreements for its Columbus Lithium-Boron Project. These amendments, agreed upon with the company's property partner, defer all cash payment obligations with a focus on deeper discovery drilling at Columbus. This move is expected to create significant value for stakeholders. Additionally, the company will issue 500,000 additional shares to the underlying option partners as consideration for the amendments. The final cash payment required to purchase 100% of the water rights has also been deferred by 18 months to May 26, 2027.
Kinross Gold First Hole Drilling Update at Riley Gold's PWC Gold Project (Cortez District - Nevada)
Riley Gold Corp. has provided an update on its Pipeline West/Clipper Gold Project (PWC), which is being drilled by Kinross Gold U.S.A., Inc., targeting previously unexplored portions of the property. The first core hole drilled at PWC was designed to identify local stratigraphy and was successfully completed, revealing that known Cortez District host lithologies exist at explorable drill depths over a large, untested area close to the Pipeline complex area. All samples have been sent to ALS Labs for gold assays and trace element geochemistry, with results pending.
Cabral Gold Announces $3M Private Placement Financing
Cabral Gold Inc. has announced a non-brokered private placement of up to 10,000,000 units at $0.30 per unit for a total of up to $3,000,000. The proceeds will be used for general corporate purposes and to complete drilling and detailed engineering following a pre-feasibility study on a starter operation at the Cuiú Cuiú gold district. The securities from this placement will be subject to a four-month hold period. The completion of the placement and any finder's fees are subject to regulatory approval. Cabral Gold Inc. is a junior resource company focused on gold properties in Brazil, particularly the Cuiú Cuiú gold district in the state of Pará.
Argyle Provides Update on Pilot Plant Facility
Argyle Resources Corp has updated shareholders on its pilot processing facility in St-Lambert-de-Lauzon, which is near its silica exploration properties in Quebec as well as its research partners, the Institut National de la Recherche Scientifique (INRS). The company has begun assembling three pieces of equipment provided by the INRS to aid silica exploration and analysis. The equipment includes a ball mill for crushing and grinding quartzite into silica sand, a particle size reduction tool to create finer particles of silica for various industrial applications, and a uniformity device to ensure a consistent particle size distribution. These measures will improve the quality of the silica by controlling the grinding process.
Mundoro Announces New Targets for Drill Testing on BHP-Mundoro Project in Timok, Serbia
Mundoro Capital Inc. has announced advancement in its exploration project, Trstenik, in collaboration with BHP Exploration. Five prospective porphyry exploration targets have been advanced, with drill permit applications submitted for these areas, expected to be granted in Q4 2024. These targets include SouthWest Zone, SouthEast Zone, North-Central Zone, Central Zone, and North Zone, all in close proximity to the Majdanpek porphyry copper deposit. The targets were identified through elevated geochemistry, geophysical anomalies, and drilling. Three of these targets have been recommended for drill testing.
Sienna Closes Placement with One Strategic Investor
Sienna Resources Inc. has successfully closed its financing, generating gross proceeds of $250,000 through the sale of 5,555,555 flow-through shares. The private placement, which is subject to the final approval of the TSX Venture Exchange, does not include any warrant issues. The funds will be used for the company's existing projects in Ontario and Saskatchewan. The company's President, Jason Gigliotti, expressed optimism about the placement as a resource for commencing operations on its Canadian projects and for supporting its USA project and marketing efforts. Sienna has been expanding its projects recently, including the Stonesthrow Gold Project, the Case Lake West Cesium and Spodumene Pegmatite Project, and the Uranium Town Project
Red Metal Resources Executes Definitive Agreement to Acquire 100% Interest in Mineral Claims Package in Ville Marie, Quebec, Contiguous to Recent Hydrogen Discovery
Red Metal Resources Ltd. has completed due diligence and signed a Definitive Agreement to acquire a 100% interest in three mineral claim packages and mineral claim applications. These are directly adjacent to Quebec Innovative Materials Corp.'s recent hydrogen sample discovery, located within the Timiscaming Graben formation, 15 km north of Ville Marie, Quebec. Red Metal is planning an initial exploration program, including AI and target mapping algorithms, gas sampling, and geophysics to assess variations. This acquisition is part of their strategy to expand their clean energy portfolio while advancing their Carrizal Copper/Gold property in Chile.
Doubleview Gold Corp Announces Closing of Second Tranche of Private Placement for Total of $1,833,270
Doubleview Gold Corp. is closing its second tranche of a non-brokered private placement that was announced in September 2024. The company has so far raised a total of $1,833,270, with the second tranche bringing in $416,300. This includes 90,182 flow-through units priced at $0.55 each, and 965,000 non-flow-through units priced at $0.38 each. Each unit comprises a common share and a warrant, allowing the holder to purchase additional shares at a later date.
Lions Bay Announces Corporate Update
Lions Bay Capital Inc. has filed its financial statements for Q1 ending August 31, 2024, revealing significant appreciation in two major investments. The company's investments in Fidelity Minerals Corp. and Kalina Power Ltd. have risen from $2.4 million to $4.7 million. Fidelity holds promising gold and copper assets in Peru and British Columbia. Kalina is making progress on developing three natural gas-fired power projects in Alberta, Canada. Lions Bay has also initiated legal action against GnT Mining Proprietary Limited in South Africa to recover a total outstanding amount of USD $2.175 million.
AuMEGA Completes First Pass Reconnaissance Tills Program at Intersection
The initial reconnaissance till program over AuMEGA Metals' Intersection Project has identified several priority follow-up targets. The program, the largest of its kind conducted by the company, collected 914 samples over a 15km x 7km survey area. Four areas with significant gold anomalism were identified for future targeting, including within the Windsor Point Group Sediments, the host rocks of the company's Central Zone deposits. The results also revealed clusters of till anomalies with peak gold values of 173 ppb and peak silver values of 5.82 g/t. The Intersection Project is located in Newfoundland and Labrador, Canada, along the Cape Ray Shear Zone. The company is encouraged by the findings, which support its belief in the prospectiveness of the
Flow Metals Announces Financing
Flow Metals Corp. is planning a non-brokered private placement to raise $20,000. The offering will consist of 222,222 common shares priced at $0.09 per share. The funds raised will be used for exploration and development of its projects in British Columbia and the Yukon, working capital, and general corporate purposes. No finder's fees are expected to be payable on the offering. The securities offered have not been registered under the United States Securities Act of 1933 or any state securities laws. Flow Metals is a mining exploration company with projects in Yukon and British Columbia.
Taurus Gold Corp. Announces Completion of Private Placement
Taurus Gold Corp. has successfully closed its non-brokered private placement of units, issuing 920,000 units at $0.05 per unit, raising a total of $46,000. The funds raised will be used for general working capital purposes. Each unit consists of a common share and one-half common share purchase warrant, which holders can use to buy a common share at $0.10 per share within 24 months. No finder's fees were paid and the company does not plan any additional closings. Taurus Gold Corp. is a mineral exploration company specializing in gold exploration, with a 51% ownership in the Charlotte property.
Gold as the Solution: Judy Shelton’s Plan to Fix America’s Dollar Crisis
Dr. Judy Shelton warns about U.S. debt and proposes linking the dollar to gold for stability....
EDM Announces Closing of First Tranche of Its $1.5m Upsized Non-Brokered Private Placement
EDM Resources Inc. has announced the closure of the first tranche of a non-brokered private placement financing, raising C$777,705. The overall financing, which was increased to $1.5 million, is expected to close its second and final tranche by November 14, 2024. The first tranche involved the issuance of over 7 million units, each consisting of a common share and a purchase warrant. The proceeds will be used for environmental work at the Scotia Mine and general working capital. In relation to the offering, the Company paid C$17,094 and issued 155,400 broker warrants to eligible brokers.
Spod Lithium Appoints New Director
SPOD Lithium Corp. has announced the appointment of Richard Goldstein to its Board of Directors. Goldstein has over 31 years of experience in capital markets, including investment banking, institutional sales, and trading. He is the founder of First Republic Capital Corp. and a former Executive Vice-President at Standard Securities. Meanwhile, Gerald Kelly has resigned as a director but will continue to serve the company as a consultant for the next two years. SPOD Lithium Corp. is a leading company focused on the exploration and development of lithium resources, primarily in Quebec and Ontario, Canada.
Elemental Altus Announces Annual General and Special Meeting and Director Nominees, Adopts Advance Notice Policy for Shareholder Meetings
Elemental Altus Royalties Corp. will hold its Annual General and Special Meeting on November 28, 2024, in Vancouver. The meeting will elect the Company's board of directors, ratify the re-appointment of its auditors, and approve the Company's omnibus equity incentive plan, among other things. Nine candidates have been nominated for election to the board. The company has also adopted an advance notice policy to ensure orderly meetings, adequate notice of director nominations, and sufficient information about nominees.
Dinero Announces Closing of Non-Brokered Private Placement
Dinero Ventures Ltd. has completed a non-brokered private placement, issuing 3.3 million flow-through units at 10 cents per unit, thereby raising $330,000. The flow-through units consist of one flow-through common share and one non-flow-through share purchase warrant. The shares and warrants are subject to a hold period, preventing trading in Canada until March 1, 2025. Directors of the company acquired 1.2 million units for $120,000 in related party transactions. The funds raised will be used on the company's New Raven property in British Columbia.
How to Find Winners, Why BC is Changing, and What This Gold Exploreco is Up to
Discussion on junior mining stocks featuring CEOs from Kingfisher Metals and Provenance Gold; includes warnings....
Vendetta Announces Upsize and Closes Private Placement
Vendetta Mining Corp. has closed its non-brokered private placement, issuing 39.5 million units at $0.01 each, raising a total of $395,000. The TSX Venture Exchange approved an increase in the offering size from the initially planned $350,000. Each unit includes a common share and a warrant, which allows the holder to purchase a common share at $0.05 within a 36-month period. The proceeds will be used for working capital and project fees. Michael Williams, a company director, bought 5 million units, which is considered a "related party transaction" but exempt from valuation and minority shareholder approval requirements.
Elemental Altus Announces Completion of AlphaStream Transaction and La Mancha Private Placement, Appointment of Director
Elemental Altus Royalties Corp. has completed the acquisition of an additional 50% ownership of entities holding 24 existing royalties from AlphaStream Limited for US$28 million. The payment was made in 34,444,580 newly issued shares of Elemental Altus at C$1.10/share. The company also completed a private placement by La Mancha Investments following their exercise of Anti-Dilution Rights for 16,141,940 common shares. After these transactions, Elemental Altus has 245,762,591 common shares outstanding. The acquisition increases Elemental Altus' royalties on several gold projects and expands their royalty portfolio.
Military Metals Receives Approval to Post Securities to OTCQB
Military Metals Corp.'s common shares have been approved to trade on the OTCQB Venture Market starting from October 30, 2024, under the ticker symbol 'MILIF'. The company, which currently also trades on the Canadian Securities Exchange and Frankfurt Stock Exchange, expects this move to provide easier access for US investors, increase liquidity, and expand its shareholder base. Additionally, former CEO Adam Giddens is rejoining the company as an Advisor. Military Metals is a mineral exploration company focused on acquiring, exploring, and developing mineral properties, particularly copper, antimony, and gold.
Silver Dollar Closes Financing Led by Strategic Investor and Largest Shareholder Eric Sprott
Silver Dollar Resources Inc. has completed a non-brokered private placement financing, raising $1.5 million through the sale of 6 million units priced at $0.25 each. Investor Eric Sprott purchased half of these units, increasing his stake in the company to approximately 19.8%. The company will use the net proceeds to fund drilling activities at the recently acquired Ranger-Page Silver-Lead-Zinc Project in Idaho and for general working capital purposes. All securities issued will have a hold period expiring on March 2, 2025.
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