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Mining News
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…
Other News
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…
Lundins Drop $950M on a Copper Mine in Chile
They will buy a 51% stake in the owner of the Caserones mine, Japan’s top smelter; JX Nippon Mining & Metals for $800M in cash and $150M in a deferred cash consideration payable in installments over 6 years. They will also have the right to acquire up to an additional 19%…