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KORE announces $3 million strategic investment by Eric Sprott
KORE Mining announced a $3 million private placement fully subscribed by renowned precious metals investor Eric Sprott, who will acquire 10 million shares at $0.30 each. The financing will fund work on KORE's gold portfolio in California and British Columbia, with Sprott holding 11.3% of the company upon completion.
Maverix Metals completes acquisition of additional royalty on the Hope Bay Mine
Maverix Metals completed the acquisition of an additional net smelter return royalty on the Hope Bay gold mine in Nunavut, bringing its total royalty position to 2.75% NSR. The Hope Bay mine, operated by TMAC Resources, is expected to produce over 160,000 ounces of gold in 2019 and contains significant measured and indicated resources of 4.81 million ounces at 8.3 g/t Au.
Royal Canadian Mint continues wildly popular bullion series with Grizzly theme on new silver coin
The Royal Canadian Mint has launched the fourth coin in its popular "Predator" bullion series, featuring a grizzly bear design on a 1 oz., 99.99% pure silver coin. The coin was announced at the American Numismatic Association's 2019 World's Fair of Money in Chicago and is now shipping to official bullion distributors.
Far Resources completes option on their Green Bay Property, Manitoba
Far Resources has completed final payment obligations to secure 100% interest in its Green Bay Option claims, consolidating the entire 3,603-hectare Zoro Lithium Project near Snow Lake, Manitoba. The property hosts a 43-101 compliant inferred resource of 1.07 million tonnes at 0.91% Li2O and contains 13 discovered lithium-bearing pegmatite dykes with grades up to 6.3% Li2O.
Azincourt Energy plans Phase Two Drill Program at East Preston Uranium Project
Azincourt Energy announced plans for a Phase Two drill program at its East Preston uranium project in Saskatchewan's Athabasca Basin, comprising 2,000-2,500 meters of drilling with a $1.2 million budget for winter 2019-2020. The company has identified multiple high-priority conductor systems with 15+ kilometers of strike length and confirmed prospectivity through initial drilling that showed similar geology to major uranium deposits.
Western Potash Appoints New CEO and President
Western Resources Corp. has appointed Fritz Venter as CEO and President of its subsidiary Western Potash Corp., effective August 1, 2019. Venter brings 34 years of international engineering and construction experience and will lead development of the Milestone Potash Phase I Project. The appointment signals the company's commitment to advancing its potash development plans.
Komatsu Mining to construct new 85,000 sq. ft. sales and service facility in Sparwood
Komatsu Mining Corp. announced plans to invest approximately $40 million in constructing a new 85,000-square-foot sales and service facility in Sparwood, BC. The company will break ground in early August with completion expected by end of 2020, replacing their current leased facility after 30+ years of operations in the area.
Jackie Scales, Teck’s New Director of Inclusion and Diversity talks about her new role
Teck Resources appointed Jackie Scales as Director of Inclusion and Diversity in January 2019. Scales brings experience from banking and consulting at Deloitte, where she helped develop inclusion strategies for organizations. She emphasizes that Teck has strong leadership commitment to diversity and inclusion initiatives across the company.
RPMGlobal appoints Akoo Patel to lead Consulting and Advisory division across the Americas
RPMGlobal has appointed Avakash (Akoo) Patel as President of the Americas region for its Consulting & Advisory business, bringing over 25 years of mining and mineral processing experience. The appointment reflects strong customer demand and is part of the company's strategy to grow market share across North, Central, and South America.
Addressing Canada’s declining mining competitiveness
A national alliance of mining associations submitted recommendations to Canada's Mines Ministers at their 76th annual conference, urging action to address Canada's declining mining competitiveness and maintain its ability to attract global investment. The recommendations align with the Canadian Minerals and Metals Plan and focus on six strategic areas including regulatory certainty, Indigenous participation, and infrastructure investment.
Steelworkers: ‘Buy America’ Rules are harmful to Canadian steel makers
The Trump administration announced new 'Buy America' provisions requiring 95% of steel and iron used in U.S. public procurement to be sourced domestically, excluding Canada. The United Steelworkers condemn this as a betrayal that will significantly harm Canadian steel producers who have relied on the much larger U.S. procurement market. The union blames the Trudeau government for failing to secure procurement protections during NAFTA2 negotiations.
Teck to shutdown Metaline Falls zinc and lead mine
Teck Resources is shutting down its Pend Oreille zinc and lead mine in Metaline Falls, Washington, laying off 210 workers effective July 31, 2019. The closure is driven by decreasing metal values and depleted reserves, with the mine expected to exhaust its current zinc and lead reserves by September.
First Cobalt and Glencore conclude term sheet for refinery restart
First Cobalt Corp. has concluded a term sheet with Glencore for the restart of its cobalt refinery in Ontario. This represents a significant step forward for the company's refinery operations and cobalt processing capabilities.
Midland resumes exploration work on its Willbob Gold Project in the Labrador Trough
Midland Exploration has resumed exploration work on its wholly-owned Willbob gold project in Quebec's Labrador Trough, focusing on the Ants showing which returned strong channel sample results including 3.33 g/t Au over 5.0 metres. The company has expanded its land position with 133 new claims and plans a 1,000-metre drilling campaign for September 2019.
Pretivm Exploration and Brucejack Update
Pretium Resources reports continued Brucejack-style mineralization at depth below Valley of the Kings deposit from their third deep exploration hole. The company is progressing mill upgrades to sustain 3,800 tonnes per day production rate on schedule, while accelerating underground development to 1,000 meters per month.
Canada will not face preliminary countervailing duties in trade case on fabricated structural steel
The U.S. Department of Commerce determined that Canadian fabricated structural steel exporters do not receive countervailable subsidies, resulting in a 0% preliminary subsidy rate. This positive ruling means no cash deposits will be collected on Canadian steel imports, while Mexico faces 14% and China faces 34% rates.
B2Gold releases its third annual Responsible Mining Report and documentary
B2Gold released its third annual Responsible Mining Report highlighting strong safety performance with zero fatalities for three consecutive years and 97% local employment across operations. The company generated over $1.2 billion in economic value in 2018 while distributing $152 million in employee wages, $171 million in taxes and royalties, and $21 million in community investments.
AME welcomes Kendra Johnston as new President & CEO
The Association for Mineral Exploration (AME) announced Kendra Johnston as its new President & CEO, effective June 13, 2019. Johnston brings over 15 years of mining industry experience and was previously President of Independence Gold Corp. The appointment signals AME's commitment to responsible exploration and indigenous engagement.
TNDC to provide fibre optic communication to Iskut and Dease Lake in northwest British Columbia
Tahltan Nation Development Corporation received $13 million in federal and provincial funding to bring fibre optic communications to Iskut and Dease Lake communities in northwest BC over two years. The project leverages existing BC Hydro transmission infrastructure and will improve access to health, education, and economic opportunities in the resource-rich Tahltan Territory.
Far Resources extends Dyke 8, expands pegmatite field, and prepares for summer exploration
Far Resources announced results from its fifth drilling program at the Zoro Lithium Project in Manitoba, discovering five new pegmatite dykes and bringing the total to thirteen. The company has now confirmed the dyke field extends over at least 1,000 hectares, representing only one-third of the total 3,005 hectare property, indicating significant expansion potential.
Review committee appointed to keep mining safe
The British Columbia government has created a Standing Code Review Committee to update mining safety regulations, appointing 12 professionals for three-year terms. The initiative follows recommendations from the Mining Jobs Task Force and is backed by $20 million in funding over three years for additional inspectors and oversight.
CanAlaska drilling targeting high-grade uranium
CanAlaska Uranium has commenced drilling at the West McArthur uranium project to expand high-grade uranium mineralization discovered by joint venture partner Cameco. Previous drilling intersected up to 5% U3O8 near the unconformity contact, with extensive alteration extending 700 metres above the unconformity. The company believes this represents a potential 'Tier One' discovery similar to nearby world-class McArthur River and Cigar Lake mines.
Chalice sells its Quebec gold projects for C$12 million in shares and retains a royalty
Chalice Gold Mines sold its Quebec gold projects (East Cadillac and Kinebik) to Chantrell Ventures for C$12 million in shares, retaining a 1.0% NSR royalty on 577 claims. The transaction allows Chalice to focus on Australian projects while maintaining exposure to Quebec gold through a 7% equity stake in the renamed O3 Mining.
Vior announces earn-in agreement on its Ligneris Gold Project, Quebec
Vior Inc. announced an earn-in agreement with Ethos Gold Corp allowing Ethos to earn up to 70% interest in the Ligneris Gold Project in Quebec's Abitibi Greenstone Belt. The agreement structure allows Ethos to earn 51% by paying $1M in shares and spending $3M over four years, with an option to earn an additional 19% by spending another $4M over three years.
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