Galleon kickstarts baseline studies for Ontario gold project

The most recent data available from the Alberta Energy Regulator — for December 2017 — shows Fort Hills at 11,525 bbls/d.

The proposed acquisition means Chaarat would own Kumtor and will have control over management and operations of the mine.

Lack of new projects, investment deficit and increasing political risk will hit supply of cobalt, lithium, copper and nickel, key metals for making the batteries that power electric cars.

The two companies will exchange past exploration information on areas prospective for diamonds in Zimbabwe and form a jointly-owned special purpose vehicle to develop and exploit diamond resources.

Most records of early exploration work on the property have been lost.

The Mining Association of Canada - representing firms including Barrick Gold Corp. and Teck Resources Ltd. - expressed “profound disappointment.”

The Lerala Mine was opened in 2008 and had to be shut twice due to weak sales, until it was placed under judicial management last year.

Bringing the project to production is expected to take about four years, but Donlin gold project is still has a long way to go in the permitting process before construction and operations can begin.

What the bears seem to have in common is the belief that a rush of new lithium supply will soon hit the market.