Junior Mining Stocks Ready to Breakout
November 17, 2009 By Leave a Comment
Junior Miners Poised for Impressive Gains
Like all commentators, I am somewhat constrained in what I write about: it has to be a subject in which people have interest. Sure, I could write about Greek mythology or backpacking in Bolivia, but if no one reads it, it becomes a fruitless exercise – and raises that cliché question “if a tree falls in a forest...?” [Read more...]
Mines Management, Inc. Stock
November 17, 2009 By Leave a Comment
MINES MANAGEMENT, INC. announced today that it has withdrawn its previously announced public offering of 6,000,000 shares of common stock. The terms presented by the underwriters did not meet the minimum expectation of net proceeds.
The Company’s President and Chief Executive Officer, Mr. Glenn M. Dobbs, stated, “While we were gratified with the strong support for the offering, potential pricing would have required unacceptable levels of dilution to current stockholders. We are fortunate that our balance sheet remains strong as we work to advance the Montanore Silver-Copper Project, with approximately US$14 million in cash and cash equivalents, and no material debt. We will continue to focus our efforts on preparations for the underground drilling program and re-permitting efforts as we advance the Montanore toward development.” [Read more...]
Goldcorp to buy Canplats
November 17, 2009 By Leave a Comment
Goldcorp to buy Canplats for C$238m
TORONTO (Reuters) -
Canada's Goldcorp Inc (G.TO: Quote) said on Monday it has agreed to acquire junior gold miner Canplats Resources Corp (CPQ.V: Quote) for about C$238 million ($229 million) as it tries to establish a network of satellite mines around its Penasquito gold project in Mexico.
[Read more...]
Newmont Peru Gold Mine
November 13, 2009 By Leave a Comment
Newmont expects steady output from Peru gold mine
LIMA (Reuters) -
Newmont Mining Corp (NEM.N: Quote) said on Thursday it expects output at Yanacocha -- one of Latin America's largest gold mines -- to hold steady in the next few years, contradicting an earlier forecast made by its partner.
Yanacocha, run jointly by U.S.-based Newmont and Peruvian precious metals miner Buenaventura (BUEv.LM: Quote) (BVN.N: Quote), reported sales of 1.8 million ounces of gold last year.
"This year, we're going to have something similar to 2008 production ... and for the next few years, we're going to maintain levels of around 1.8, 1.9 million ounces," Carlos Santa Cruz, Newmont's vice president of South American operations, told reporters. [Read more...]
Top 100 Mining Stocks
November 12, 2009 By Leave a Comment
Amid power buying, trends and patterns from the 100 most popular listed mining names.
JOHANNESBURG -
Stock markets are flying just about everywhere; the MSCI world equities USD index is trading at 12-month highs, along with the MSCI emerging markets USD, as are the Dow Jones Industrial, S+P 500, and DJ Stoxx 600; some markets are lagging a little, as seen in China's CSI 300, and given general buoyancy there has been some profit-taking as seen in Russia's Micex Russia and the India Nifty.
Most equities subsectors are also doing very well; in general, buying has the air of indiscrimination about it, with value-seeking discernible at the margin. Any kind of positive sign or story, and chances are that a stock dressed in the fashions of the moment will fly. A year ago, of course, the world was cluttered to paralysis with almost universal predictions that the world would end under the weight of a Great Depression of fatal proportions. [Read more...]
Robex Resources Inc. on the Nampala
November 12, 2009 By Leave a Comment
Robex Resources Inc. announce that it has completed the preparatory phase of the drilling campaign planned for the Nampala gold deposit located on the Mininko permit, in the Republic of Mali. Robex is now preparing to commence its drilling campaign with the intent of increasing the quality of the resources contained within a portion of the Nampala deposit.
Virginia Mines Inc.: Secures $2.4 M Private Placement
November 12, 2009 By Leave a Comment
Virginia Mines Inc. announces that it has negotiated a private placement that consists of 279,124 flow-through common shares at a price of $8.67 per share, which represents 69% premium to the last 10 days volume weighted average price for gross proceeds of CA$2,420,000. Casimir Capital L.P. (”Casimir”) acts as the agent for the financing.
At the closing, Virginia agrees to pay Casimir a finder’s fee equal to 6% of the gross proceeds of the financing and non-transferable broker warrants entitling Casimir to subscribe for such number of common shares of Virginia equal to 6% of the number of flow-through common share that will be issued. The warrants will be struck at $6.58 and will have a term of 24 months from closing. [Read more...]
Junior Gold Miners ETF