Klondex Mines (TSX:KDX), working to put its Fire Creek gold project in Nevada into production, on Wednesday said it will pay Newmont Mining (NYSE:NEM) about $83 million for its Midas mine and milling facility in the same state.
The end of the year is in sight, and many investors will soon be forced to take painful losses.
The Vancouver-based company, which follows the prospect generator model, has acquired a set of claims with a historical, high-grade production base and potential for vein extension.
The precious metal managed to claw back a few dollars on Thursday after hitting a 4.5-month low on Monday due to the Iran-US nuclear deal.
Leonard Melman, publisher of the Melman Report, believes another downleg is possible for gold, but the long-term bull market is intact.
Despite the company's fall in stock price on step-out drill results earlier this month, CEO Adam Travis says that there is plenty of room for stock price appreciation after a discovery hole on its North ROK copper-gold project in April catapulted the junior company's market capitalization.
Sprott US Holdings Chair Rick Rule is "agnostic" on whether the gold price will rise or fall, but warns bullion investors that getting out out of the market now could mean a lost opportunity for a further price increase.
At PDAC 2013, INN Senior Editor Andrew Topf and Tom Hoefer, executive director of the NWT & Nunavut Chamber of Mines, discussed mining in Canada's Northwest Territories and Nunavut, touching on the recent transfer of power from the federal government to the territories, the potential for new metal mines as well as labor and infrastructure challenges.
A gold mine being developed in Northern Manitoba, Canada, has some more elbow room thanks to a deal with an Australian resources fund.
Colossus Minerals Inc. (TSX:CSI,OTCQX:COLUF) has identified its next steps towards securing funding for its 75% owned Serra Pelada gold-platinum-palladium Mine. The Colossus board of directors have decided to review the Company’s strategy, and will be ceasing underground development for the time being as they focus on de-risking the project as well as decrease overall cost.
Klondex Mines Ltd. (TSX:KDX) reported that financing is expected to include a gold financing package from Franco-Nevada Corporation in the amount of $35 million, a private placement of subscription receipts for gross proceeds of approximately $35 million and a private placement of secured notes for approximately $25 million.
Corvus Gold Inc. (TSX:KOR,OTCQX:CORVF) reported that complete assay results from the Yellowjacket vein system demonstrate that the combined near surface, higher-grade, bulk tonnage, vein and stockwork zones are consistently 20-50 metres wide with average grades ranging from 1 to 7 g/t gold and 14 - 32 g/t silver.
Tarsis Resources (TSXV:TCC) President and CEO, Marc Blythe, spoke to Resource Investing News on the Company’s two important properties in Mexico, and explained the advantages of Tarsis operating under a prospect generator business model. “Buy low and sell high” is advice Mr. Blythe had for investors, along with taking a look at whether or not [...]
Coronet Metals Inc. (TSXV:CRF) Chairman Joel Dumaresq spoke to Resource Investing News about the Company's projects: the White Caps Gold Mining Project and the Liberty Precious Metals Testing and Processing Facility, both in Nevada, as well as the Yanamina Gold Project in Peru.
Tarsis Resources Ltd. (TSXV:TCC) President and CEO, Marc Blythe, spoke to Resource Investing News about its early-stage projects in Nevada and Mexico and how they have found success in the prospect generator model.
Kootenay Silver Inc. (TSXV:KTN) CEO James McDonald provides investors with an update on the Promontorio Silver Project, stating that the recently announced drill results have added value to the existing resource, bringing it up to 92 million ounces of silver equivalent in the measured and indicated categories.
Gold prices fell Wednesday after a better-than-expected US jobs report came out.
The US economy continues to show signs of improvement, making investors concerned about the Federal Reserve tapering its stimulus program soon.
Gold prices dropped on Monday as the US dollar rose 0.2 percent against a basket of currencies, Reuters reported.
Gold prices increased Wednesday ahead of numerous new US economic reports, including the October durable goods report and weekly jobless claims.