Lundin Mining and Inmet Mining late Tuesday called it a day regarding their proposed friendly merger with a kindly farewell: "We continue to think very highly of each other's assets and wish each other well."
The bid for a hostile takeover of Lundin Mining by Equinox Minerals was given a boost today by proxy voting firm International Shareholder Services (ISS), The Financial Post reported:
Proxy voting firm Institutional Shareholder Services (ISS) is recommending that Equinox Minerals Ltd.’s shareholders vote in favour of the company’s $4.8-billion hostile takeover bid for Lundin Mining Corp.
Peregrine Diamonds Ltd. announced that the Chidliak Joint Venture (Peregrine 49% and BHP Billiton 51%) has approved a $17.7 million 2011 exploration program on the 8,580 square kilometre Chidliak project on Baffin Island, Nunavut, Canada. Since 2008, 50 kimberlites have been discovered on the project, with seven of these having characteristics consistent with economic potential in Arctic settings. Peregrine is the operator of the 2011 program and field work has commenced.
Image by Peregrine Diamonds
European Union politicians are preparing to label Canadian oilsands a "dirty fuel," according to a report in the Globe and Mail, which could cause European oil companies to pull back investments in northern Alberta. That is fuelling fears that similar efforts could take place in U.S. states.
Western Copper (WRN.TO) has begun engineering studies to determine whether it can modify plans that pushed regulators to reject its request for a water use license at its Carmacks copper project in Canada's Yukon Territory.
A recent court ruling in the northwestern territory upheld the Yukon Water Board's decision to reject Western Copper's plans, forcing the exploration company to go back to the drawing board.
Silver Quest Resources (TSX-V:SQI) has entered into an agreement with The Yukon Cornelius Syndicate, a staking syndicate whose members are at arm's length to the company, to acquire a 100% interest in 80 quartz mineral claims (YCS Claims) located in the White Gold District, 135 km south of Dawson City, Yukon.
Rambler Metals and Mining PLC (TSX-V:RAB)(AIM:RMM) said it intends to raise approximately £10 million, before expenses, through a placing of 27,777,778 ordinary shares at 36 pence each (approximately CDN$0.57 per share).