Orsu sheds one asset to focus on another
Orsu Metals (OSU-T, OSU-L) has taken another step towards getting its Karchiga copper production into production.
2012
Bannerman’s Etango gets environmental go-ahead
Bannerman Resources (BAN-T, BMN-A) has received an environmental nod from the Namibian Ministry of Environment and Tourism to develop its Etango uranium project, located on the Namib Desert sands, near the costal town of Swakopmund.
Paladin Energy turns the corner
Despite two months of unplanned shutdowns to upgrade the plant and complete remediation work due to land movement at its Kayelekera open-pit uranium mine in Malawi, Paladin Energy (PDN-T) still managed to increase production there by 14% in the…
Venture loses ground during July 9-13 period
VANCOUVER — After enjoying a brief early-week rally during the July 9 to 13 trading period, the S&P TSX Venture Composite Index pared gains, closing down 2% or 24.4 points at 1,184.25. Uncertainty surrounding the Eurozone crisis and…
La Mancha to join 2012 M&A list
An investment firm managed by Egyptian multi-billionaire Naguib Sawiris called Weather II has launched a $500 million takeover bid for La Mancha Resources (LMA-T) at $3.50 per share in cash—a 56% premium to the junior’s closing…
Baja slides another 21% as it looks for funds
The clock is ticking for Baja Mining (BAJ-T) as it approaches its August deadline to raise additional funds for the Boleo copper-cobalt-zinc project in Mexico to cover the project’s cost overruns so it continue accessing its loans.
TSX falls despite late rebound
The TSX Composite Index rallied at the end of the July 9-13 period but still finished lower than where it began, shedding 145 points to finish at 11,514.53 points. After a six-day losing streak the Index managed a rebound on July 13 thanks to…
U.S. stocks end in positive territory, July 9-13
The S&P 500 and Dow Jones Industrial Average erased losses for the week in the last hour of trading as better than expected economic data from China lifted investor sentiment. The country clocked year-on-year growth of 7.6% during the…
Exchange rates
EXCHANGE RATES CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate) Date July 9 July 6 July 5 July 4 July 3 US$ in C 1.0212 1.0199 1.0131 1.0128 1.0123 …
Banro faces delay during Twangiza ramp-up
Just days after taking the keys from contract mine developer Banlaw Afrique, Canadian miner Banro (BAA-T, BAA-X) has run into delays while comissioning its 100%-owned Twangiza open-pit gold mine, 45 km southwest of Bukavu in the Democractic…
Mixed results for Ethos Gold’s first pass at Betty
The first drill program on Ethos Gold’s (ECC-V) Betty project in the Yukon has yielded encouraging gold discoveries, and numerous blanks.The first half of a phase-one drill program includes results for 22 reverse-circulation drill…
Western Potash takes novel approach
When Western Potash (WPX-T) starts commercial production at its Milestone potash mine in Saskatchewan in 2016, it will draw much of its water from treated sewage effluent from the city of Regina, about 30 km away.As much as 60,000 cubic metres…