Frik Els , Editor

Dilute this! Traders tear 11% off NovaGold after it goes overboard with new shares

Fuming investors facing a flood of new shares clobbered Novagold on Thursday after it added almost 10 million shares to its bought deal offering and gave the option for another 5 million to institutions at a steep discount to the ruling price.

Frik Els | February 2, 2012 | 3:31 pm

Iron ore billionaire Gina Rinehart is “gonna be the whole shooting match” after raiding media group

The richest woman in the world, Gina Rinehart, on Wednesday dropped $200 million in "loose change" to more than double her stake in Australian newspaper group Fairfax to add to her shares in a television channel prompting questions about the mining magnate's motivations.

Frik Els | February 1, 2012 | 10:11 pm

Vietnam wants decree to “mobilize” citizens’ gold, could sell 500 tonnes. And you were worried about IMF and Paulson dumping bullion

Vietnam's central bank wants to "mobilize" gold from citizens which it says are hoarding 300 – 500 tonnes to free up funds for socio-economic development in the communist country.

Frik Els | February 1, 2012 | 7:40 pm

I shoulda, coulda, woulda bought Molycorp. Rare earth miner now up 30% in 2012 after $390 million cash injection

Molycorp on Wednesday built on its strong gains since the start of the year after announcing a $390 million cash injection from Chile's Molymet.

Frik Els | February 1, 2012 | 3:50 pm

Black day for Verde as investors see red over Brazil potash project preliminary economic assessment

Verde Potash shares fell $1.66 or 19.4% to $6.90 on Tuesday, recovering from even steeper losses earlier in the day, after the company released a preliminary economic assessment report for its Brazil project that disappointed investors.

Frik Els | January 31, 2012 | 10:15 pm

Scotgold expects licence for Loch Lomond gold-silver mine in May

Scotgold Resources announced Tuesday it expects to receive a mining lease from the Crown for the Cononish gold and silver project, the only one of its kind in the UK,  in May this year. Production could start early in 2013.

Frik Els | January 31, 2012 | 9:10 pm

Potential PR poison: Centerra’s Kyrgyzs mine encroaching on snow leopard park, polluting water supply says govt commission

Eurasianet reports two new studies say the massive Kumtor gold mine, controlled by Canada's Centerra's and the Kyrgyzs government, as a matter of routine ignores environmental legislation endangering species such as the snow leopard and is damaging Central Asia’s water supply.

Frik Els | January 31, 2012 | 8:11 pm

Iron ore hits a wall

After staging an impressive comeback from October's lows, the rally in iron ore prices seems to have run out of steam.

Frik Els | January 31, 2012 | 4:02 pm

Osisko bogged down at same Argentina project where Barrick came unstuck

Osisko Mining on Monday said the company's Famatina project in La Rioja, Argentina, remains stalled almost a month after protesters began blockading the site and marched on the governor's office and in the capital Buenos Aires, sending its stock down 3%

Frik Els | January 30, 2012 | 8:10 pm

Australia dumps trucks: Nov-Dec mining machinery imports dropped 62%, suggesting no-one’s immune

Australia's mining machinery imports fell 62% in November and December, the biggest fall since the global financial crisis, according to one of the country's largest freight forwarders of heavy equipment.

Frik Els | January 30, 2012 | 8:04 pm

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