Kinross grapples with Tasiast
Unpopular mergers are behind some tough news for two of Canada’s largest gold miners.On the same day that Barrick Gold’s (ABX-T, ABX-N) top manager was ousted partly for his role in a share-price-depressing takeover,…
2012
McEwen Mining grows El Gallo
The first phase of production at McEwen Mining’s (MAQ-T, MUX-N) El Gallo deposit in Sinaloa, Mexico, is scheduled to start during the third quarter, but in the meantime the Toronto-headquartered company has grown the measured, indicated…
Alexis promises a turnaround
Alexis Minerals (AMC-T) is looking to redeem itself by restarting the Snow Lake gold mine in Manitoba, with the help of a conditional financing.Credit Suisse has agreed to provide the junior US$45 million to revive the past-producing mine…
Exchange rates
EXCHANGE RATES CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate) Date June 11 June 8 June 7 June 6 June 5 US$ in C 1.0283 1.0332 1.0244 1.0297 1.0414 …
Mineral Mountain strikes deal with Holy Terror
Mineral Mountain Resources (MMV-V) is betting that the legendary Homestake gold belt has some life left in it.The company has signed an option agreement to earn up to 75% of a property held by the privately owned and 120-year-old Holy…
Mawson hits 6 metres of 617 grams gold in Finland
Mawson Resources’ (MAW-T) share price has spiked after the company released a bonanza-grade drill intercept from its Rompas gold property in northern Finland.Standout hole 11 returned 6 metres grading 617 grams gold per tonne uncut…
Market News
Toronto Stock Exchange
Metals, mining and money markets
SPOT PRICESCourtesy of ScotiaBankFriday, June 12, 2012 Precious MetalsPrice…
Sabina’s PEA paints a rosy picture at Back River
A recent preliminary economic assessment (PEA) for Sabina Gold & Silver’s (SBB-T) Back River has sketched a favourable prospect, highlighting high grades and lower-than-expected start-up costs for the gold project in…
US Markets
U.S. equities rallied late in the trading week as markets anticipated that Spain would ask eurozone deputy finance ministers for a bailout for its troubled banks, which it did over the weekend. The Dow Jones Industrial Average and the S&P…
Centamin’s upgrades a ray of sunshine at Sukari
Shareholders of Egypt-focused gold miner Centamin (CEE-T) have gotten a welcome bit of good news with the the company releasing an upgraded open-pit plan for its flagship Sukari gold mine in southeastern Egypt, some 700 km south of Cairo near…
Commentary: Time is ripe for miners to dole out cash to shareholders
Investors are hardly in the mood for risk.And when risk appetite wanes, the “principal-agent” issue rises to the forefront, pushing investors to favour cash in their own hands rather than it being left at the disposal of company…