Singapore's sovereign wealth fund Temasek Holdings has taken up a 5.5% stake in Canada's Ivanhoe Mines valued at roughly $420 million ahead of a $1.8 billion rights offer at the miner. Early Monday Ivanhoe, already down 43% this year shed another 3.8% in value.
Surupampa comprises 800 hectares, lies adjacent to Darwin's 100%-owned Colquiloma property which comprises 450 hectares and is located 35km northwest of Barrick's Lagunas Norte gold mine (9Moz gold) in La Libertad.
What a whippy week it was. Volatility spiked and then subsided into the end of the week which meant it was a great day-trading environment but then that petered off as ranges tightened for markets and stocks into the end of the week.
Rio could end up with a much bigger chunk of Ivanhoe come July 19 – 260 million new shares are expected to be issued representing some 35% of Ivanhoe's current outstanding shares.
The Dominican Republic is soon to become more than just a sunny destination. Data published by the country’s geology society claim the Central American nation is sitting on nearly $58 billion of unexplored reserves of minerals and metals.
The U.S. Commodity Futures Trading Commission said on Wednesday that is charging defendants Ronnie Gene Wilson and Atlantic Bullion & Coin with fraud in connection with operating a $90 million Ponzi scheme.
“The economics of some of these projects has changed,” he said. “I think for the next two years, 18 months perhaps, we will just wait and see how things develop.”
