MINING.COM

New resource estimate could revitalize historic Pickle Crow Mine

One of Canada's most successful, historic gold mines is poised for a renaissance following a new resource estimate that outlines 1.26 million ounces of gold. The updated NI-43101, filed Wednesday by Ottawa-based PC Gold, says the gold is contained in 10.15 million tonnes of ore averaging 3.9 g/t Au. The deposit has a higher-grade underground component of 1.1 million ounces averaging 5.4 g/t Au, with almost half — 600,000 ounces — contained in high-grade veins grading 9.3 g/t Au. Image by PC Gold Inc.

Andrew Topf | June 8, 2011 | 10:47 pm

The world turns to coal

The latest BP Statistical Review was published in London this morning, and following a theme presented for years at our blog, global […]

Seeking Alpha | June 8, 2011 | 10:35 pm

Rodinia intersects high grade lithium and potash at Salar de Diablillos

Canada’s Rodinia Lithium Inc. announced on Wednesday encouraging results from its continued reverse circulation drill program at its Salar de Diablillos project located in Salta Province, Argentina close to FMC Corp’s lithium mine, the world’s third largest. Rodinia focuses on lithium exploration and development in North and South America and the commercialization of a significant potash co-product that is expected to be recoverable through the lithium harvesting process. Listed on the TSX-Venture exchanged, shares in the tightly held junior had lost over 4% in afternoon trade.

MINING.COM Staff Writer | June 8, 2011 | 7:41 pm

Molycorp announces proposed offering of $200 million of convertible senior notes due 2016

Molycorp, Inc. (NYSE: MCP), the Western hemisphere's only producer of rare earth oxides, today announced that, subject to market conditions, it intends to offer $200 million principal amount of its Convertible Senior Notes due 2016 (the “Notes”) in an offering exempt from the registration requirements of the Securities Act of 1933. The Notes are being offered only to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933. In addition, Molycorp intends to grant the initial purchasers of the Notes an option to purchase an additional $30 million principal amount of the Notes.

Business Wire UK | June 8, 2011 | 2:18 pm

Mike Starogiannis: Are you ready for commodity bargain season?

School's out for the summer and junior explorers are back in the field commencing summer drilling programs. That's what makes early summer a good time to seek out bargains in the junior equity sector, according to Fraser Mackenzie Analyst Mike Starogiannis. In this exclusive interview with The Gold Report, Mike offers some promising names from Canada to Peru (where, yes, it is winter).

The Gold Report | June 7, 2011 | 5:39 pm

First Uranium announces financial results for the three and twelve months ended March 31, 2011

First Uranium announced total gold sales for its financial year ended March 31, 2011 ("FY 2011") of 142,630 ounces of gold, which is a significant increase over the 91,657 ounces sold at the end of March 31, 2010. The Company's consolidated revenue of $172 million for FY 2011, an increase of 86% from $93 million in revenue for FY 2010, resulted in the Company reflecting a $20 million gross profit margin from operations in FY 2011 compared to a loss of $18 million in FY 2010. Remembering that First Uranium remains in a capital development and growth phase, the consolidated pre-tax loss for the year was $76 million, which is a 19% improvement over the pre-tax loss of $94 million in FY 2010.

Canadian News Wire | June 6, 2011 | 5:12 pm

The New Canadian Energy Income Trusts

Will the US oilpatch get flooded with Canadian juniors looking to build and sell production to the new Canadian energy income trusts? Trusts are now allowed in Canada again – but with foreign assets.

Keith Schaefer - Oil and Gas Investments Bulletin | June 6, 2011 | 2:04 pm

Gold as collateral a major step for gold market

If gold were generally accepted as collateral in global monetary dealings, would we see it used as such? Strangely enough, no! In certain transactions, however, where no other collateral –whether currencies, government bonds and the like— is used, gold may be used, as a last resort.

Julian D.W. Phillips - Gold Forecaster | June 3, 2011 | 5:45 pm

The ultimate guide to coal investing

Coal has been mined across the world since the Bronze Age, becoming an important commodity during Roman times, especially in what is today Great Britain. However, the true Golden Age of coal began with the start of the Industrial Revolution in Europe and North America in the late 1700′s and early 1800′s.

Seeking Alpha | June 2, 2011 | 10:27 pm

Sabina shares jump on $100m Nunavut deal with Xstrata

Canada's Sabina Gold & Silver Corp said on Thursday it would sell its Hackett River property and certain claims on the Wishbone Greenstone Belt in Nunavut, Canada to Xstrata Zinc Canada for C$50m in cash and a silver production royalty, lifting its shares almost 5% in early Toronto trade. In addition Xstrata has agreed to incur not less than $50m on exploration and other expenditures on the properties over a four year period. The transaction could take up to six months to complete and will position Sabina as purely a precious metal player.

Frik Els | June 2, 2011 | 4:12 pm