Articles for tag: Gold, Greatland, Havieron, million, Newmont, sells, stake, Telfer

September 20, 2024

Ron Finklestien

mining

Striking Gold: Greatland Gold Acquires Telfer, Havieron Stake from Newmont for $475 Million

Newmont’s Divestiture Program Gains Traction Newmont’s bold divestiture program gained momentum with the recent sale of Telfer and Havieron to Greatland Gold for a substantial $475 million. These assets were part of a strategic move devised by Newmont earlier this year, including the likes of Éléonore, Musselwhite, Porcupine, CC&V, and Akyem mines. Greatland Gold’s Promising Predicament The acquisition marks a significant step for Greatland Gold, positioning them favorably to take charge of the Havieron gold-copper project. This endeavor, initiated back in 2018 and a focus of Australian junior’s efforts, is set to align with existing infrastructure from the Telfer mine.

May 30, 2024

Ron Finklestien

mining

McEwen raises $22 million for Stock East and West gold exploration

After paying agents fees, McEwen expects to net C$28.5 million. The Fox gold complex covers 70 sq. km. along 18 km of the Destor-Porcupine fault. It includes the 2,000 tonne per day Black Fox mill and the Black Fox mine to the east. The measured and indicated resources are 14.3 million tonnes grading 4.14 g/t gold, containing close to 1.9 million oz. There is also an inferred resource of 4.2 million tonnes at 3.74 g/t gold, containing 503,000 oz. of gold. McEwen’s project pipeline includes the Fox gold project as well as Stock East and West. The former Stock mine

May 29, 2024

Ron Finklestien

mining

Cameco closes $366 million debt offering

“Consistent with the conservative financial management we have demonstrated, our capital allocation decisions are focused on maintaining the financial flexibility to execute on our strategy,” said Grant Isaac, Cameco’s EVP and CFO, in an earlier release. “In a market where we believe the demand for secure and carbon-free nuclear electricity generation and the fuel required to run reactors is stronger and more durable than ever, Cameco is well-positioned for disciplined and sustainable growth, while maintaining the ability to self-manage risk.” Cameco is one of the world’s largest uranium producers with operations in North America, Europe and Asia. In Canada, the

May 26, 2024

Ron Finklestien

mining

Hudbay Minerals closes $402.5 million upsized public offering

In total, Hudbay issued over 42.36 million common shares priced at $9.50 each, including the full exercise of the underwriters’ overallotment for about 5.52 million shares. Originally, it had planned to issue 31.6 million shares plus a 15% overallotment. By midday Friday in New York, shares of Hudbay Minerals traded 2.9% higher at $9.57 apiece, for a market capitalization of $3.4 billion. In Toronto, its shares rose 1.6% to C$12.99 apiece, for a market capitalization of C$4.6 billion. As previously announced, the net proceeds will be used by Hudbay to accelerate mine pre-stripping activities and mill optimization initiatives at Copper

April 26, 2024

Ron Finklestien

mining

SQM invests $2 million in Chilean startup Movener

The company is SQM Lithium Ventures’ fourth investment, joining the UK-based companies Altilium Clean Technology and Salinity Solutions, as well as Electric Era in the US. The funding will help Movener with upcoming commercial endeavours and to further development its hybrid technology. The company has already formed partnerships with large companies such as Walmart and has begun trial projects and initial implementation phases with other important players in the industry. Moving forward, Movener seeks to improve the effectiveness of its technology, aiming for a 25% decrease in fuel consumption, an enhancement from the current 20% savings obtained with their systems.

April 22, 2024

Ron Finklestien

mining

G Mining buys Reunion’s Oko West gold project in Guyana for $638 million

G Mining plans to use $480 million in near-term free cash flowfrom the permitted and construction-ready Tocantinzinho gold project in Para state, Brazil, to advance Oko West through technical studies to a construction decision. Tocantinzinho is to start annual commercial production of about 200,000 oz. in this year’s second half, the company said. It also announced $50 million in equity financing for the new G Mining. “We are well-positioned to accelerate value creation at Oko West leveraging our unique expertise in building and operating mines on schedule and on budget in the Guiana Shield,” G Mining president and CEO Louis-Pierre Gignac

April 20, 2024

Ron Finklestien

mining

Western Copper and Gold Secures $29 Million Investment for Casino Project in Yukon

Rich Mining Potential The Casino property in the Whitehorse mining district boasts a wealth of resources, with 1,136 quartz claims and 55 placer claims secured under the Yukon Quartz Mining Act. Back in mid-2019, Western Copper expanded its holdings by acquiring the Canadian Creek property to the west, enhancing their footprint in the region. Precious Metals Galore Western Copper’s Casino project is a treasure trove, with measured and indicated resources suitable for milling containing 2.3 million tonnes of 0.15% copper, 0.18 g/t gold, 0.016% molybdenum, and 1.4 g/t silver. This translates to a whopping 7.4 million lb. of copper and

April 19, 2024

Ron Finklestien

mining

Windfall for Land Reclamation: $124.8 Million Allocated to US States and Tribes

Renewed Commitment to Reclaiming Abandoned Mines The recent allocation of $124.8 million to states and tribes for land reclamation work marks a renewed commitment towards addressing the historical hazards posed by abandoned mines in the United States. The Bipartisan Infrastructure Law has not only reauthorized but extended the Abandoned Mine Land (AML) fee through September 30, 2034. Empowering Coal-Producing States and Tribes In fiscal year 2024, 24 coal-producing states and two tribal AML reclamation programs stand eligible to receive AML fee-based grants, determined by a congressionally mandated formula reflecting their coal production history. Despite a 5.7% sequestration cut, the total

March 22, 2024

Ron Finklestien

mining

Gemfields warns of loss on up to $24 million write-down

Gemfields Faces Loss Due to Significant Write-down Market Volatility Impacts Gemfields As the year 2023 unfolds, the air in the financial markets carries a heavy scent of volatility. Prices for palladium and rhodium, essential components in the production of catalytic converters, have seen a sharp decline by 44% and 63%, respectively. This tumult is not unfounded — inventory adjustments and a hesitant global economy lie as the underlying driving forces behind the chaos. Surprisingly, platinum, while experiencing a less steep descent, hasn’t managed to evade the piercing trajectory of decline. For producers, this descent has translated into a brutal blow

March 18, 2024

Ron Finklestien

mining

Avalon Embarks on $11 Million Investment for Groundbreaking Lithium Processing Venture

Revolutionizing Lithium Processing Exciting news emerged in July 2023 when Avalon unveiled its collaboration with the Finnish mining tech powerhouse, Metso. Joining forces, the two entities aim to establish a cutting-edge lithium processing plant – poised to be the province’s forerunner in battery-grade lithium production. Through this strategic partnership, Avalon gains access to Metso’s advanced technologies, enabling the production of lithium hydroxide cathode materials tailored for the thriving global electric vehicle (EV) market. A Strategic Property Acquisition Prior to this groundbreaking partnership, Avalon sealed the deal on the acquisition of a sprawling 383-acre industrial site. Situated uniquely with direct access