Glencore, Goldcorp and Yamana ink agreement to integrate Argentina mines

Boss Power Corp. has agreed to surrender to the Province of British Columbia all claims to its uranium exploration and mining rights at the Blizzard Uranium Deposit in the Kamloops-Kelowna region. The legal agreement supports the Province's goal of ensuring mining exploration is safe, sustainable and economically benefits British Columbians. In 2008, the Province announced that it would not support uranium exploration and development, and prohibited related permits being issued to any company in 2009. At that time, Boss Power Corp. held a pre-existing claim to uranium deposits in that area.

Brian Mason, the leader of the Alberta NDP party, is criticizing Premier-elect Alison Redford for failing to prevent 200 oilsands workers for losing their jobs to temporary foreign workers. According to a report in The Vancouver Sun, the workers, unionized insulators at Suncor's Firebag operation, were replaced by temporary foreign workers who are being paid less:

Bill O'Reilly, the talk show host on Fox, believes Keystone is going to be approved, and it will be good the U.S. O'Reilly made the comments during an interview with talk radio host Charles Adler, which will run later this week. O'Reilly is a leading news commentator on the U.S. cable network Fox News. He is watched by four million people each day.

Rio Tinto (LON:RIO ) is expanding its presence in Canada with an all-cash offer to acquire Hathor Exploration (TSE:HAT), which owns the Roughrider uranium deposit in Saskatchewan. The global mining giant announced today a $4.15 per share, all-cash bid for Hathor valued at $578 million. The bid is 11% higher than Cameco's $3.75 per share hostile bid for Hathor announced last month. It is the first bid for a Canadian company that Rio has made since acquiring Alcan in 2007. "The superior Rio Tinto offer provided fair value to Hathor shareholders over Cameco's current hostile, unsolicited takeover over," said Hathor chief executive officer Dr. Michael H. Gunning.

Agnico-Eagle Mines (TSE:AEM) had suspended mining and gold production at its Goldex mine in Val d'Or, Quebec, due to unstable ground and water inflow. "A weak volcanic rock unit in the hanging wall of the Goldex deposit has failed. This rock failure is thought to extend between the top of the deposit and surface. As a result, this structure has allowed ground water to flow into the mine. This water flow has likely contributed to further weakening and movement of the rock mass," Agnico-Eagle said in a statement. As a result of the problem, Agnico said it will write off its investment in Goldex, resulting in a $260 million charge in the third quarter results. The news caused the Toronto-based company's shares to plummet around 19% near the close of trading on Wednesday.

Oilsands Quest was little changed at 24.5c on Tuesday after announcing it had entered into a 2-year $12 million securities purchase agreement with Socius Capital. Oilsands Quest says the financing ensures it's near-term liquidity while it attempts to sell off assets and advance its flagship Axe Lake pilot project. The deal throws a lifeline to the company under threat of delisting from AMEX after a $60 million rights offer flopped in September and a year-long quest to find a buyer or strategic partner came up empty handed. Investors in the firm have been on a bumpy ride. The stock is down some 70% from its January highs of 64c and gained 63% in a single day after Saskatchewan granted the company 15-year oil sands leases, the first in the province. But recent investors can feel smug about the fact that they did not buy into the junior during the frothy 2006 market – the counter hit a peak of $7.76 in March that year.

Allana Potash Corp. (TSX:AAA)(OTCQX:ALLRF) ("Allana" or the "Company") is pleased to announce that it has intersected three zones of strong potash mineralization in Hole DK-11-28 ("Hole 28"). Hole 28 is located in the northwestern portion of the concession block and was targeted to test potash mineralization west of Hole 15. Hole 28 intersected a strong Sylvinite Zone at a depth of 198.8 metres which yielded 40.27% KCl over 3.56 metres. A robust Kainitite Zone was also intersected deeper in the hole at a depth of 266.43 metres and returned 21.98 % KCl over 8.39 metres.

Wallbridge Mining Company Limited (TSX:WM, FWB: WC7) ("Wallbridge" or the "Company") is pleased to announce that it has retained the services of Wardrop, A Tetra Tech Company ("Tetra Tech") and AMEC, two large multi-disciplinary engineering companies to complete the required studies for the development of its Broken Hammer deposit in Sudbury, Ontario. Tetra Tech will complete the Pre-Feasibility study ("PFS") and the subsequent Feasibility Study ("FS"). AMEC will complete the Environmental and permitting requirements. "The successful delivery of the bulk sample and its expected results have brought this project to the next phases of development namely Pre-Feasibility, Feasibility, and permitting."

Canadian resource companies have less optimism than they had during the summer, according to the Bank of Canada's Business Outlook Survey, which was released on Monday. "Responses to the autumn survey point to less optimism among firms than in the summer survey, as weaker expectations for U.S. growth and a more uncertain global outlook weigh on business sentiment. Indicators of future business activity, capacity constraints and price pressures have all moved down from the levels recorded in the previous survey," wrote the survey's authors. Miners and other resource firms expect commodity prices will rise less rapidly over the next 12 months.