IDM uncovers new Lacasse zone at Red Mountain

Intergeo, the Russian copper and nickel company owned by billionaires Mikhail Prokhorov and Maxim Finskiy, hopes to raise from C$100 million ($104.2 million) to C$500 million in a initial public offering on the Toronto Stock Exchange by the end of the year. Finskiy, the company's chairman and 20 percent stakeholder, told Reuters in an interview on Wednesday the company would float about 10 percent of its shares in the offering.

The Montreal Gazette reports on an Ernst & Young report released this week that points to opportunities for rare earth companies in Canada and elsewhere, as a result of REE export restrictions imposed by China: China’s clampdown on exports of rare earth metals used widely in smartphones and other electronic products, is opening up huge opportunities for the Canadian and international mining industry, consultants Ernst & Young said Wednesday.

The Canadian province of Quebec plans to develop its huge frozen northern reaches into a powerhouse of mining and renewable energy, targeting C$80 billion ($83 billion) of private and public investment. Quebec's 25-year "Plan Nord," launched on Monday, envisages funding for infrastructure, mines and the development of renewable energy, taking advantage of an improving investment climate as the earth warms and polar ice melts.

Mountain Province Diamonds Inc. (TSX: MPV, NY-AMEX: MDM) today announced the results of an updated independent valuation of the diamonds recovered from the Gahcho Kué Project. The valuation was conducted by WWW International Diamond Consultants Ltd. and took place at the London offices of the Diamond Trading Company in early April, 2011. All diamond values presented below are based on the WWW Price Book as at April 11, 2011. Importantly, for the first time, the Gahcho Kué diamonds were grouped into larger parcels, each parcel representing diamonds from the Hearne, Tuzo and the separate lobes of the 5034 kimberlite. In the opinion of WWW, grouping of the diamonds into larger parcels increased the accuracy of the diamond valuation. Image by Mountain Province Diamonds

Canadian precious metals company North American Palladium Ltd's first-quarter loss narrowed, but the company cut its 2011 palladium production forecast as it shifts focus to development from production. The company cut its full-year production forecast to 145,000-155,000 ounces of palladium from its earlier view of 165,000-175,000 ounces.

Advanced Explorations Inc. (TSX-V:AXI) is pleased to announce progress in the ongoing Feasibility Study work for the C-Zone of its Roche Bay Iron Project in Nunavut, northern Canada. The Company has concluded multiple advantages may be drawn from an increased production of up to 5 million tonnes per year of concentrate (65%-66% Fe grade). This represents a 66% increase in production from the previously announced base case (3 million tonnes per year).

Thompson Creek Metals Company Inc. announced financial results for the three months ended March 31, 2011, prepared in accordance with United States generally accepted accounting principles ("US GAAP"). All dollar amounts are in U.S. dollars unless otherwise indicated. Financial Highlights: Revenue for the quarter ended March 31, 2011 was $206.7 million, up 62% from $127.8 million for the first quarter of 2010. Image by Thompson Creek Metals

Silver Wheaton Corp. ("Silver Wheaton" or the "Company") (TSX:SLW)(NYSE: SLW) is pleased to announce that its Board of Directors has declared its second quarterly cash dividend payment for 2011 of US$0.03 per common share. The quarterly dividend will be paid to holders of record of its common shares as of the close of business on June 20, 2011, and will be distributed on or about June 30, 2011. The Company's dividend qualifies as an 'eligible dividend' for Canadian income tax purposes.

Teck Resources Limited (TSX: TCK.A and TCK.B, NYSE: TCK) announced today that employees at its Fording River operation in southeastern British Columbia have ratified a new five-year agreement, replacing an agreement which expired on April 30, 2011. "Our discussions with the union were very productive and we are pleased to have reached a new five-year collective agreement at our Fording River operation," said Bill Fleming, Vice President, Operations and Engineering.