Posts by Andrew Topf:

Premier Gold Mines triples gold resource at Hardrock Project

Toronto-listed Premier Gold Mines has nearly tripled gold resources at its 70%-owned Hardrock Project in northwestern Ontario, Canada. An updated NI 43-101 report by Micon International Limited shows a 269% increase in measured and indicated resources to 2.5 million ounces, and a 164% increase in inferred resources to 1.1 million ounces.

Nunavut to benefit from ‘tsunami’ of money flowing into Canadian mining, oil and gas: Nunatsiaq Online

Nunavut is attracting the attention of the world's miners like never before, says Scotiabank commodities analyst Patricia Mohr, speaking at a mining summit in the mineral-rich Canadian northern territory. Nunatsiaq Online reports: Pushed by the developing world’s growing hunger for consumer items, civil unrest in many countries, and “random” events like the recent tsunami, earthquake and nuclear power plant disaster in Japan, mining companies around the world are eying Nunavut with far more interest than before.

Alberta conservation plan would cancel some oil sands leases: Globe

The government of Alberta, on the global defensive for its management of the oilsands, says it will revoke a number of oil sands leases, leading some in the oil patch to bring up comparisons with Venezuela. The Globe and Mail reports: The Alberta government has proposed new environmental rules that would revoke a number of oil sands leases – including those which already have active projects – in an effort to protect sensitive habitat, wildlife and forest land in the most industrialized area of the province.

Reuters: Kinross Gold to pay $350 million for full ownership of Russian mine

Kinross Gold, recently cashed up from its stake sale in Harry Winston Diamond Corp., has now agreed to pay $350 million for full ownership of the Kupol mine in Russia. The mine would account for about 17% of Kinross' gold equivalent production in 2011. Reuters reports: Gold miner Kinross Gold Corp. said it signed an agreement to buy the stake it does not already own in Chukotka Mining and Geological Co for about $350 million, giving it full ownership of the Russian mining company.

New Gold acquires Richfield for $550M

nnounced today. Under the arrangement, Richfield shareholders will receive 0.9217 of a New Gold share for each Richfield share, valued at $10.38. The offer represents a 31% premium to Richfield's share price as of Friday's market close. The deal has been approved by both company's boards.

China bumps up rare earth export quota

China has increased its 2011 rare earth export quota, says an article by International Business Times: China has set its total output of rare earth at 93,800 tonnes this year, 4,600 tonnes more or 5.16 percent higher compared to last year's, the Ministry of Land and Resources said this week.

Midway Gold looking to go underground at Midway

Denver-based Midway Gold is eyeing an additional underground resource at its Midway project in Nye County, Nevada. The company said on Friday that an NI 43101- compliant technical report updates a 2005 resource estimate that envisioned an open-pit mine. That estimate, prepared by Mine Development Associates, calculated an inferred low-grade resource of 5.5 million short tons containing 215,500 ounces of gold, with an average grade of 0.039 oz/ton.