With commodity prices up so much over the past several years, you can forgive long-term value investors for giving them a miss. Who wants to risk exposure to another asset bubble so soon after the dot-com implosion and the U.S. housing mess?
Zinc Mining News
Nothing new to report from Uncle Ben and his cronies but at least there was more talk of inflation with rising commodity prices. The $2.50 range carried on in Crude again today as traders try […]
Trevali signs term-sheet with WestLB for up to US$30,000,000 debt facility for Santander zinc-lead-silver mine development in Peru
Trevali Mining Corporation ("Trevali" or the "Company")(TSX:TV)(OTCQX:TREVF) announces that it has signed an engagement letter and indicative term-sheet with WestLB AG, New York Branch ("WestLB") for a potential secured term loan of up to US$30,000,000 […]
With a new loan close to being secured, Trevali may soon join the ranks of bona fide miners, producing at two poly-metallic mines in Peru and New Brunswick.
Capstone Mining will acquire all the issued and outstanding shares of Far West Mining. Total transaction value will be Can$725 million. Capstone released details of the agreement in a press release on Sunday. On Monday morning, Capstone shares (TSE:CS) were down about 7% to $3.93 a share.
The commodity bull has shown little sign of running out of steam - until now. Prices began to stumble as soon as a note from Goldman Sachs, the American banking giant, whizzed around trading desks across the globe last week. The broker advised clients to close its profitable "CCCP" play, which involved investing in a basket of crude oil, copper, cotton, platinum and soybeans. The commodities team, led by Jeffrey Currie, argued that after gaining 25pc since December, the risks to the trade had changed.
Hondo Minerals Corp has announced the expansion of its operational infrastructure in preparation for the opening of a processing facility at the Tennessee mine in Arizona.
NovaGold Resources released a prefeasibility study today on its 100%-owned Ambler project in northwest Alaska. The Vancouver-based company is exploring the sprawling 36,670-hectare property, which is host to a number of high-grade copper, zinc, lead, gold and silver deposits. According to the PEA, commissioned by SRK Consulting, the property contains 16.8 million tonnes of indicated resources, with 4.1% copper and 6.0% zinc. The inferred category contains 12.1 million tonnes of 3.5% copper and 4.9% zinc.
Yesterday was quite a weak day in the commodity markets, with a few staging outside reversals on their charts. It appears some (much?) of this weakness was due to a report by the very influential […]
When a Chinese vase that might be barely a century old fetched $18 million recently at a Sotheby’s auction in New York—obliterating its pre-sale estimate of just $1,000—that was surely based on inflation fears and money printing by the Federal Reserve. Conversely, when the sale of a much more esteemed ceramics collection failed to live up to the hype Thursday night in Hong Kong, clearly worries about slowing economic growth were to blame, exacerbated by Chinese monetary tightening.
Glencore International plc plans to raise up to $12.1 billion in a London and Hong Kong IPO, according to a term sheet seen by Reuters on Thursday, cashing in on a resources boom and giving the trading giant the fire power to grow through acquisitions. The much anticipated initial public offering, set to value the company at up to $60 billion, will mark the end of four decades of closely guarded privacy for the world's biggest commodities trading company.
Azure Minerals, a Mexico-focused precious and base metals explorer, said today it has entered into an agreement to form a joint venture with a Japanese state-owned corporation to explore the El Tecolote Project in Sonora, Mexico. According to the press release, Japan, Oil, Gas and Metals National Corporation (JOGMEC), a Japanese state-owned entity, will spend $US5 million over three years, in order to earn a 51% interest in El Tecolote. The company can earn another 19% stake by spending a further $8 million, which would take its total equity in the project to 70%.
Compania de Minas Buenaventura S.A.A. ("the Company" or "Buenaventura") (NYSE: BVN; Lima Stock Exchange: BUE.LM), Peru's largest publicly-traded precious metals mining company announced today that Contractors at the Uchucchacua Mine commenced a strike related to […]
Selwyn Resources Ltd. (TSX VENTURE:SWN) ("Selwyn") is pleased to announce a NI 43-101 compliant mineral resource estimate for the Scotia mine (formerly known as the Gays River mine) in Nova Scotia that includes both the […]
Miners, especially of base metals, will drive Canadian merger and acquisition activity for the rest of 2011, although oil and gas and financial services will also be significant, bankers said on Tuesday.
Donner Metals Ltd. (DON-TSX-V) is currently constructing a joint venture zinc mine with Xstrata Zinc Canada (XTA-L) on the Bracemac-McLeod deposit in Québec, while exploring a number of different financing scenarios.
Nevsun Resources Ltd. (TSX:NSU)(NYSE Amex:NSU) is pleased to announce the revised reserve estimate for its Bisha mine in Eritrea. The revised estimate has increased the total proven and probable reserves to 28.3 million tonnes from the previously reported 20.1 million tonnes (2006 feasibility study). The net impact of higher throughputs and lower cut-off grade has resulted in an extended mine life of 13 years, while increasing previously reported robust cash flow.
The metals markets were briefly sidetracked by the Japanese earthquake and subsequent nuclear emergency. Gold did not know whether to go up or down in response to the damage wrought in Japan and the financial measures the Japanese government took. Was it inflationary? Or was it the straw that broke the camel's back of global recovery? Read the full report
Mt. Burgess has identified a large zinc soil geochemical anomaly on its Kihabe-Nzuu base metals prospect in Botswana. Mt Burgess Mining NL (ASX: MTB), which has been actively exploring Botswana and Namibia for more than a decade -- initially for diamonds
Selwyn Resources has mobilized the mining equipment and supplies integral to the Selwyn Project Joint Venture's proposed underground advanced exploration program.
Strategic Metals Ltd. (TSX VENTURE:SMD) ("Strategic") is pleased to announce the closing of the Can$16.25 million private placement announced on February 23, 2011, consisting of the sale of 5,000,000 common shares at a price of […]
HudBay Minerals posted some big gains in its fourth-quarter and year-end financials, the Toronto-based miner reported on Wednesday. Net earnings in Q4 2010 more than tripled to $24.5 million, compared to $7.2 million in the fourth quarter of 2009. Year-end numbers were also impressive, with net earnings of $73 million — a 475% increase over 2009 after adjusting for gains on the sale of investments, the company stated.
Northern Securities Analyst Matthew Zylstra seeks out junior precious metals stocks with value in the ground and growth potential that are not yet obvious to the markets. He also looks for companies that have unrecognized base metal potential that can significantly reduce the cash costs of precious metals production.
Laconia Resources, a Perth-based exploration company, purchased Jabiru Metals Limited (ASX: JML) equity in the Lennons Find Base Metal project in the Pilbara region of Western Australia. Laconia made the announcement on Wednesday in a statement. Laconia also agreed to purchase Shaw River Resources (ASX: SRR) 100% interest in the nearby Yandicoogina project, located less than 10km along strike from the Lennons Find project.
Panamanian government indicates intent to repeal modified mineral resources code; contract-law 9 unaffected
Inmet Mining Corporation (TSX:IMN) announced today that the government of Panama intends to repeal recently enacted legislation, known as Law 8, that modified the Panamanian mineral resources code. The intent to repeal Law 8 recognizes concerns from indigenous communities residing within areas known as Comarcas that are recognized under Panamanian law. Inmet's Cobre Panama project is neither situated on nor adjacent to any Comarcas, and has had government and local community support.