Frik Els, Author at MINING.COM

Investors look the other way after White Tiger Gold’s loss, management’s 800% pay hike

White Tiger Gold swung into a loss in 2011 mainly due to what the company termed "administrative costs" in relation to the merger with Century Mining. In the process management's remuneration jumped to $3.9 million from $422,000 the year before. Investors shrugged and sent White Tiger Gold jumping 10.2% on Monday.

Frik Els | April 9, 2012 | 6:28 pm

Molycorp surges after better than expected results

White Tiger swings into $10 million loss, but management pay rises 9-fold

Net losses came in at a shade under $10.5 million for the year which as mainly due to what the company termed "administrative costs" that totaled $15.2 million (it was only $800,000 in 2010) in relation to the merger with Century Mining. In the process management's remuneration jumped to $3.9 million from $422,000 the year before.

Frik Els | April 6, 2012 | 11:30 pm

The ‘lunar trajectory’ of Canadian mining investment

The source of the surge in mining investment has been quite diverse, reflecting the widespread advance in prices. For 2012, gold leads the way with $3.6 billion of capital spending. But not far behind are copper-nickel-zinc mines at $3 billion, potash at $2.9 billion and iron ore at $2.7 billion as the Labrador Trough is developed.

Frik Els | April 6, 2012 | 10:16 pm

Indian gold traders call off strike after curbing March imports by as much as 80%

Indian imports may have tanked over 80% in March and could drop 40% in the second quarter after gold traders and jewelers went on a three week strike over taxes.

Frik Els | April 6, 2012 | 9:30 pm

Top 10 gold producers: Indonesia leaves 31 tonnes underground

The price of gold averaged $1,571 an ounce in 2011 meaning the South East Asian country missed out on $1,7 billion in potential revenue.

Frik Els | April 6, 2012 | 8:29 pm

Alrosa IPO may be receding in the distance just as Russian rock star hits the sweet spot

The world's number one diamond miner does not seem to be in need of cash. Too bad, direct exposure to diamonds has always been hard to come by and the diamond business' fundamentals continue to improve.

Frik Els | April 6, 2012 | 6:20 pm

FT: ‘Inbred’ miners may admire Hannam, but many not ‘too sad’ to see him go

"Resources groups and the bankers who promote them merit close scrutiny since minerals have been linked in the past with financial scandals and market manipulation, from the nickel bubble that captivated the City in the 1960s and ended in the Poseidon crash, to the Hunt brothers’ cornering of the silver market in 1980."

Frik Els | April 5, 2012 | 7:02 pm

Investors looking for answers about Diavik dig a hole into Harry Winston stock

Diavik is supposed to transform into an underground operation this year and Harry Winston's partner on the project, Rio Tinto, wants to exit diamond mining, but the luxury retailer could not provide any guidance on the way forward. Investors responded by giving Harry Winston a 5% kicking.

Frik Els | April 5, 2012 | 5:42 pm

The BHP show obscures Australian mining's deeper problems

‘Shocking’ trade numbers have some Australians calling the end of the mining boom

The commodity price cycle peaked in the third quarter of last year.

Frik Els | April 4, 2012 | 11:05 pm

Valemax No. 8 has not even loaded its first ore and it’s already worth 36% less than it cost

According to website VesselsValue.com the latest Valemax is worth 36% less than the $107 million the Brazilian iron ore titan paid for it last year because of a "slump in values of dry-bulk ships that were ordered before returns plunged."

Frik Els | April 4, 2012 | 10:07 pm

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