Articles for tag: East, exploration, Gold, McEwen, million, raises, stock, West

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

February 29, 2024

Ron Finklestien

mining

Exploring the Depths: American Rare Earths Funds Halleck Creek Venture with $8.7 Million Infusion

Updated Mineral Resource Estimate American Rare Earths recently unveiled the latest mineral resource estimate for its Halleck Creek project in Wyoming. The figures showcase a substantial 64% increase in the in-situ tonnage, compared to the previous assessment conducted last autumn. Impressive Increase in TREO The updated resource estimate reveals a total of 2.34 billion tonnes of material, with a grading of 3,196 parts per million (ppm) total rare earth oxides (TREO), including neodymium (Nd) and praseodymium (Pr) oxides. This translates to 7.48 million tonnes of contained TREO, marking a significant upsurge. Among the estimated amount, 1.42 billion tonnes fall under

February 29, 2024

Ron Finklestien

mining

Weir Group Boosts Margins in Mining Sector, Elevates Dividend

Strong Momentum from Transformation Program The Weir Group, based in Glasgow, is reveling in the substantial impact of its Performance Excellence transformation program. This initiative not only achieved cost savings of £6 million but also unearthed fresh opportunities leading to a twofold increase in the company’s cost-saving target to £60 million by 2026. CEO Jon Stanton’s Optimism Jon Stanton, the CEO of Weir, expressed his satisfaction with the company’s performance, stating, “Weir is delivering on the compelling value creation opportunity we set out as a focused mining technology company.” He highlighted the unique capabilities enabling the company to take advantage

February 27, 2024

Ron Finklestien

mining

West Red Lake Strikes Gold with $20 Million Offering Tied to Gold

Embracing Gold in Financial Ascent West Red Lake has recently made headlines in the financial world as it successfully raised $20 million through gold-linked note financing. These notes, set to mature on December 31, 2029, carry a tantalizing coupon rate of 12% per annum, payable quarterly to investors. The company is making a bold move by committing to place gold in escrow on a quarterly basis into a gold trust account starting in 2026. It’s as though they’re staking a claim in the treasure troves of old-time miners, ready to strike it rich. Golden Redemption for Investors A unique feature

February 8, 2024

Ron Finklestien

mining

Capstone’s $265 Million Funding Boost for Chilean Copper Projects

Capstone Initiates Major Investment in Chilean Copper Operations Capstone, a Vancouver-based miner, has recently raised an impressive $265 million to advance its Chilean copper endeavors, symbolizing a significant and highly anticipated development in the mining sector. The funding will play a crucial role in propelling Capstone’s Mantoverde and Santo Domingo projects to new heights. Funds Allocation and Project Details The company plans to utilize the net proceeds from the offering to enhance its Chilean copper developments, particularly the Mantoverde optimized project and Santo Domingo detailed engineering, as well as for future exploration programs. The Mantoverde project boasts the potential to