White Gold closes $4.5m placement, stock jumps

The firm, North America's No.1 producer of coking coal, benefitted from the price rally — steelmaking coal climbed 155.5% to $207 in the quarter.

Shares in the Canadian miner behind the stalled Pebble copper-gold project in Alaska nosedived after a report branded the venture as “worthless.”

The firm has not been able to ship copper from the mine in over a month due to a ban on concentrate exports that kicked in on January 12.

If you’re one of the throwback gold enthusiasts likely to now number in the hundreds judging be mainstream media’s portrayal of “gold bugs”, you’re likely enjoying the apparent strength in the gold price currently evident.

EY’s Canadian Mining Eye index declined 13% in the last quarter last year as weak gold and nickel prices offset copper and zinc gains.

Shares in most gold miners fell Monday as the precious metal price dropped more than 1% in early trading and was steadily heading to its largest single-session loss of the month.

It rebounded in the week ending February 10, 2017 to 90.26 from 76.28 the previous week.

The miner attributed the good results to higher metals prices, increased gold and copper output and productivity improvements.

The proposed friendly acquisition will give McEwen access to advanced exploration stage properties located in the heart of Timmins Gold Camp, northern Ontario.