Canada Top Stories

Sandstorm Gold board approves $18m share buyback, shares jump

The 18.3 million shares represent approximately 10% of Sandstorm’s current…

Zinc One receives positive results from Peruvian project

Results are from the Bongará Zinc Mine located in north-central…

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Serengeti brings Freeport onboard to hunt copper-gold near Mt. Milligan

Small B.C.-based junior Serengeti Resources (TSX-V: SIR) signed on a sizeable partner to explore territory thick in prospective copper-gold porphyries. Mining giant Freeport McMoRan Copper & Gold (NYSE: FCX) inked an exploration agreement with Serengeti Resources that could see a 51-49-percent joint venture in Freeport's favour formed on Serengeti's Choo and Tchentlo properties, not far from Thompson Creek Metals' Mt. Milligan copper-gold project.

Richfield drills 226 m at 0.92 g/t gold. New Gold waits in the wings

Five drillholes plugged some wide gaps for Richfield Ventures (TSX-V: RVC) at its Blackwater deposit, showing impressive continuity of deep gold mineralization at its flagship project 100-kilometers south of Vanderhoof, B.C. New Gold (TSX: NGD) will likely be pleased, as in early April it announced an all share takeover of Richfield worth C$550 million and plans on bringing Blackwater into production if the takeover succeeds. Ongoing drilling is part of an aggressive campaign to flesh out and expand Richfield's growing resources.

Coalspur completes C$44.4 million public offering

Coalspur Mines Limited (ASX: CPL, TSX:CPT) is pleased to announce that it has successfully completed its public offering of 24 million ordinary shares of the company at an issue price of C$1.85 per ordinary share for gross proceeds of C$44.4 million. This was announced to the market on April 13, 2011. In addition to the public offering, the previously announced private placement of 6 million ordinary shares at C$1.85 each to raise a further C$11.1 million, before costs , is expected to be completed in June 2011. The private placement is being made to the Highland Park Group, a strategic shareholder of the company.

Lake Shore sees second 100-150K gold mine with new resources

Lake Shore Gold (TSX: LSG) grew two new resources at its Bell Creek project in Canada near Timmins, Ontario, as it eyes bringing on line a second 100,000-ounce-plus gold mine. "It's fair to say we have found more than we expected at Bell Creek," Mark Utting, Lake Shore vice president of investor relations said. Image by Lakeshore Gold

China’s Jinchuan silent on media reports regarding Lundin Mining bid

No word yet from China's Jinchuan Group as to whether the company is officially in the market for Canada's Lundin Mining. Canadian media reports claim a consortium headed by Jinchuan, which includes sovereign wealth fund China Investment Corp., was planning a takeover bid for the Canadian base metals miner.

Brazilian Gold closes $23 million bought deal private placement

Brazilian Gold Corporation (TSX VENTURE:BGC) ("Brazilian Gold" or the "Company") is pleased to announce the closing of its previously announced bought deal private placement, including the full exercise of the $3,003,000 Underwriters' option (the "Offering"). Under the Offering, the Company issued an aggregate of 16,445,000 common shares (the "Common Shares") of the Company at a price of $1.40 per Common Share for gross proceeds of $23,023,000. The Company intends to use the net proceeds of the Offering to advance the Company's gold projects in Northern Brazil, and for general corporate purposes.

Creso options up to approximately 70% interest in part of the Shining Tree property to Hunter Dickinson in a $43 million deal

Creso Exploration Inc. ("Creso" or the "Corporation") (TSX VENTURE:CXT)(OTCQX:CRXEF)(FRANKFURT:C3X) is pleased to announce that Hunter Dickinson Resources Ltd. ("Hunter Dickinson"), a subsidiary of Hunter Dickinson Inc., has signed an agreement to acquire up to a 69.95% interest in a portion of the Company's Shining Tree property position (the "Project") in NE Ontario. A binding letter agreement ("Letter Agreement") has been executed and is subject to, among other things, completion of due diligence ("Due Diligence") within 60 days.

Reuters: Inmet profits from higher copper, Ok Tedi sale

Inmet Mining bettered its earnings in the first quarter compared to Q1 of last year, Reuters reported: Inmet Mining's (IMN.TO) first quarter profit rose on higher metal prices and higher sales volumes, the Canadian copper producer said on Thursday. Inmet earned C$59.4 million, or 97 Canadian cents a share, from continuing operations. That compared with C$49.4 million or 96 Canadian cents a share in the year-ago period. The Toronto-based company sold its 18 percent stake in Ok Tedi Mining for $335 million in January.