Mercedes Boss Says He’s Willing to Invest in Mining

"We have fundamentally made the decision that, if a deep sourcing opportunity presents itself down to the mine, we are able and willing to allocate capital to that," Kaellenius said on Thursday during the company's annual ESG conference.

Guy Finds $160K Worth of Gold in 1 Rock

Some dude found a 4.6 kg rock, that later turned out to be over 50% gold, and contained a total of 83 ounces, or over $160K. He found it in Australia. Victoria’s “Golden Triangle” to be specific. This is very close to the place where, in 1869, two British dudes

Lithium Miner Rejects $3.7B Bid by Albemarle

It was an unsolicited bid, and Liontown, who controls two lithium deposits in Western Australia, didn't like it. They're hoping to start production at the Norseman-Wiluna Greenstone Belt within the Archaean Yilgarn Craton of Western Australia. The project, called Kathleen Valley, is expected to produce 3Mt next year. The company

Mining

Palladium One Gets C$4.25M From Glencore

Palladium One, a $35M PGE/copper/nickel exploration company with assets in Canada & Finland, is to issue 28.35M shares at C$0.15/share in a private placement specifically made for Glencore. After the deal, Glencore would own 9.99% of Palladium One. Palladium One

K92 2022 Results

Annual production increased 18%. 107,546 oz gold, 6,247,950 lbs copper and 126,043 oz silver. Costs were lower than expected at $890 to $970/oz for the AISC. Average realized selling price per ounce was US$1,711. Annual revenue of $188.2M, an increase

Cameco to Get $300M in Tax Refunds

This is for the 2007 through 2013 tax years. They'll be getting $89 million in cash and $211 million in letters of credit. The dispute is not over, though. CRA continues to hold a further $480M ($206M in cash +

Copper Mountain 2022 Results

Full-year revenue was $301.5M, with a net loss from continuing operations at -$58.9M, or -$0.23 per share. Full-year production was 64.1M lbs of copper eq, including 52.9M lbs of copper, 21.7K oz of gold, and 247K oz of silver, at an all-in cost of

QC Copper to Raise $1.6M

The money is being raised at $0.14/share and is expected to come exclusively from strategic institutional Quebec funds who are long-term shareholders. The proceeds will be used for the exploration and development of the Opemiska Copper Project, and for general

New Found Gold Drills 10.1 g/t Au Over 22.5m at Keats West

The results from 11 diamond drill holes that were completed as part of a drill program designed to expand on the newly discovered Keats West zone, a low-angle thrust fault that dips gently to the south-southwest and is located on

First Majestic Suspends Jerritt Canyon Operations

This because they're trying to cut back on costs. Jerritt Canyon was not getting the mining rates, and it was costing too much to run. It's supposed to be temporary. There is still around 45,000t of surface stockpiles that are

Peninsula Delays Uranium Production

Peninsula Energy should already have been producing uranium, but they said this week that production is likely to start in the second half of 2023, citing supply-chain disruptions. All else looks to be on track to start producing in a

Kazatomprom Doubles its Profit

2022 profit was $981M. Market cap is roughly $7B. Production down 4%. Sales down 1%. Inventory up 6%. Average realized price up 31% (to $42.50/lb). Cost of sales up 18%. All-in cash cost up 21% (to $16.19/lb).

Forsys Metals Update

The Norasa uranium project in Namibia got a DFS in 2015. They updated it in 2022. Now they'll be doing a "technical trade-off study" to confirm optimal grind size considering uranium recovery, costs, materials handling, and tailings handling. It should

Nuclear

Westinghouse Steals Another Customer from Russia

In an effort to diminish the country's dependence on Russia, The Czech Republic’s state-controlled power company signed a deal with Westinghouse to supply nuclear fuel for the Dukovany nuclear plant. Deliveries are expected to start as early as next year. This further proves the bifurcation of the nuclear fuel market, and it shows that Westinghouse is the name countries run to for help, when things go south. This is a good deal for Westinghouse, as the Czech Republic is currently looking to increase nuclear power generation, and they will look West come to time to buy fuel for their new

Canada Makes the Right Decision?

Nuclear in Canada is now eligible for the clean energy investment tax credit, and other tax incentives. The newly-introduced 15% refundable "Investment Tax Credit for Clean Electricity" (different than the previously-introduced tax credit for "Clean Technology Manufacturing") can now be applied to all sizes of nuclear power, including small modular reactors (SMRs), large builds, and even refurbishment projects. Although it is true that many more steps need to be taken to promote & support nuclear, this is one in the right direction.

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