New Gold on track to produce 1M oz. a year
New Gold’s (NGD-T, NGD-X) third-quarter results are in, and they show the company shaping itself into a significant mid-tier gold producer.
Volume 97 Number 40 Nov 21 - 27, 2011
PwC: Exploration spending, costs soar
Exploration spending in the 12 months leading to June 30 increased 115% year-on-year, while total production costs have more than quintupled since 2006, rising more than 23% between 2010 and 2011, consulting firm PwC concludes in its annual…
Silver Standard slashes Pirquitas’ reserves
Silver Standard Resources (SSO-T, SSRI-Q) hopes it has put an end to lingering troubles at its Pirquitas silver mine in Argentina, with no further plant shutdowns or surprises. The latest surprise was a 52% reduction in the mine’s…
Market news
Toronto Stock Exchange
LME warehouse levels
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, Nov. 14, 2011 (change from Nov. 7 in brackets):
Cameco sweetens hostile Hathor bid
Cameco (CCO-T, CCJ-N) has raised its all-cash hostile offer for Hathor Exploration (HAT-T) by 20%, from $3.75 per share to $4.50 per share, trumping Rio Tinto’s (RIO-N, RIO-L, RIO-A) friendly $4.15 per share, all-cash bid.
Hammond Reef resource swells to 10.5M oz. gold
The owner of Canada’s largest gold mine has news from the largest drill program being completed at a mining project in the country.
Rodinia shares jump on PEA findings
Shares of Rodinia Lithium (RM-V) surged 42% to close at 30.5¢ on Nov. 8 after the junior exploration and development company released results of a preliminary economic assessment (PEA) of its lithium brine project in northern Argentina’s…
Editorial: Keystone kibosh strains Canada-US ties
Resource developers in Canada were dealt a heavy blow in mid-November, with the Obama Administration’s State Department in the U.S. failing to approve TransCanada’s relatively benign Keystone XL oil pipeline mega-project, which would have…
Commentary: Unlocking the wealth of northern Ontario
Discovery of the massive “Ring of Fire,” a chromite-rich mineral deposit in a remote area of northern Ontario, is the first and perhaps easiest step in realizing the site’s potential.
People
Alcoa – Kelly Pasterick appointed director of investor relations, succeeding Roy Harvey, who was appointed CFO of Global Primary Products; William Oplinger appointed COO of Global Primary Products.
Luna Gold thwarts thieves in Brazil
The second time around wasn’t so lucky for a band of robbers at Luna Gold’s (LGC-V) Aurizona mine in northeastern Brazil.