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Gold and Silver

[Shawn Ryan] Renowned Gold Detective Zeroing In On Major Discovery – by Jeff Nielson (Stockhouse.com – March 26, 2018)

http://www.stockhouse.com/

FULL DISCLOSURE: Labrador Gold Corp is a paid client of Stockhouse Publishing.

Early-stage mining exploration is not for the faint of heart. It’s hard work for the mining companies engaging in such exploration. And it can also tax the patience of investors. However, the rewards can be enormous.

Typically, early-stage mining companies are micro-caps. They have not (yet) established a mineral resource – with a quantifiable asset value. So their market cap reflects the speculative nature of such operations. But if one of these early-stage mining companies hits significant intercepts of mineralization, the company and its shareholders are generally very well-rewarded for such discoveries.

The key, for both mining companies and investors, is to maximize the odds for exploration success. One junior mining company that is especially excited about its odds for success is Labrador Gold Corp. (TSX: V.LAB, Forum).

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HISTORY: Porcupine rose from ashes of 1911 fire – by Karen Bachmann (Timmins Daily Press – March 25, 2018)

http://www.timminspress.com/

Karen Bachmann is the director/curator of the Timmins Museum and a writer of local history.

TIMMINS – I can’t remember what romantically inclined poet first said it, but the adage was very true – the Porcupine Camp did, “like a Phoenix, rise from its ashes” after the great Porcupine fire of 1911.

For those of you unfamiliar with the event, here is the New York Times version of what happened, printed on July 13th, 1911: “Hundreds of lives were lost and millions of dollars’ worth of property was destroyed in the forest fires which swept the Porcupine mining district in Northern Ontario yesterday.

“The mines burned include the Dome, the North Dome, the Preston, the East Dome, the Vipond, the Foley O’Brien, the Philadelphia, the United Porcupine, the Eldorado Porcupine, the Hollinger, the Standard Imperial, the West Dome and the Success.

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PDAC 2018 Viola R. MacMillan Award: IAMGOLD Corporation and Sumitomo Metal Mining Co., Ltd.

PDAC 2018 – Viola R. MacMillan Award – IAMGOLD & Sumitomo from PENDA Productions on Vimeo.

http://www.pendaproductions.com/ This video was produced by PENDA Productions, a full service production company specializing in Corporate Communications with a focus on Corporate Responsibility.

Viola R. MacMillan Award - IAMGOLD & Sumitomo.jpg

Hiroshi Asahi, Director, Executive Officer, General Manager of Mineral Resources Div. of Sumitomo Metal Mining (left), Ed Thompson (middle), Don Charter, Chairman & Director of IAMGOLD Corporation

This award, named in honour of PDAC’s longest serving president, is given to an individual or organization demonstrating leadership in management and financing for the exploration and development of mineral resources.

IAMGOLD Corporation and Sumitomo Metal Mining Co., Ltd. – For demonstrating leadership in the financing and management of one of Canada’s largest undeveloped gold projects

In June 2017 Sumitomo Metal Mining purchased a 30% interest in the Côté Gold project in northeastern Ontario from IAMGOLD for US$195 million. The investment and subsequent 70-30 joint venture agreement was a breakthrough, allowing IAMGOLD to proceed toward development of a major gold project in a challenging financing environment.

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‘Is it climate change?’: Unexpected early thaw in B.C. a relief for Centerra Gold’s Mount Milligan mine – by Gabriel Friedman (Financial Post – March 23, 2018)

http://business.financialpost.com/

Climate change giveth, and climate change taketh away — that is, if you can attribute anything to climate change.

Last December, Toronto-based Centerra Gold Inc. shut down the mill at its Mount Milligan mine in British Columbia after anemic snowmelt runoff and an unexpected extreme cold snap froze the shallow supply of water in its tailing ponds. On Friday, the company announced that same mill resumed operating at near full capacity, ahead of schedule, thanks in part to an earlier-than-expected thaw. The company’s stock rose 2.2 per cent to $7.31 per share.

Scientists say that climate change is making water management increasingly difficult because weather patterns are less predictable, but Centerra’s chief executive Scott Perry expressed skepticism.

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Eldorado down on Q4 loss – by Valentina Ruiz Leotaud (Mining.com – March 22, 2018)

http://www.mining.com/

Shares in Eldorado Gold (TSX:ELD)(NYSE:EGO) were down on Thursday after the company reported a Q4 loss and technical studies for its Kişladağ, Lamaque and Skouries mines.

In a press release, the Vancouver-based miner stated that, due to a 20 per cent y-o-y fall in sales volumes, its adjusted Q4 loss came in at $400,000 compared to $2.9 million in earnings in the year-ago quarter. In detail, sales moved down to 67.3K from 84.6K ounces.

In terms of production, Eldorado revealed that the last quarter of 2017 totaled 83.9K oz., up slightly from 82.8K in the same period of 2016. Full year gold production was of 292,971 ounces, including Olympias pre-commercial production and 7,061 ounces of gold produced from a bulk sample at the company’s newly acquired Lamaque project in Quebec.

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RNC mulls selling Aussie mine to focus on massive cobalt-nickel project in Quebec – by Cecilia Jamasmie (Mining.com – March 22, 2018)

http://www.mining.com/

Canada’s RNC Minerals (TSX: RNX) said Thursday it might sell all or part of its Beta Hunt gold and nickel mine in Western Australia to focus instead on its Dumont cobalt and nickel project in Quebec, the world’s largest undeveloped reserve of both metals.

The Toronto-based miner, which acquire Beta Hunt in 2016, said while it has grew the scale of the operation ever since, such asset is now considered to be non-core to RNC, particularly since Dumont’s potential value is significantly greater than the Australian mine’s current worth.

The company, however, did say it would consider other strategic alternatives for Beta Hunt, adding that no decision about the mine future has been made at the time.

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[National Gallery of Canada Photo Show] Daguerreotypes of the California Gold Rush – by Claire Voon (Hyperallergic.com – January 9, 2018)

https://hyperallergic.com/

https://www.gallery.ca/

Coinciding with the early years of photography, the California Gold Rush left a lasting mark on image making.

“Gold! Gold from the American River!” So cried the carpenter James W. Marshall on January 24, 1848, as the story goes, when he found flakes of the precious metal at Coloma, California, thus ushering into the region a wave of steely-eyed prospectors.

As word of the California Gold Rush spread around the world, photographers, too, arrived, and themselves struck metaphorical gold. They set up studios in wagons and captured the historic frenzy around them, making the Gold Rush the first major event in the country to be documented extensively through the then-new medium.

Portraits of individual miners and scenes of men crowded on the rocky landscape are currently on view in an ongoing exhibition at the Canadian Photography Institute at the National Gallery of Canada, organized in collaboration with Library and Archive Canada.

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Klondex shares surge on news of Hecla acquisition – by Niall McGee (Globe and Mail – March 20, 2018)

https://www.theglobeandmail.com/

Shares in struggling Canadian junior gold producer Klondex Mines Ltd. surged after U.S.-based Hecla Mining Co. announced it intends to pay a premium of almost 80 per cent to acquire the company in a transaction worth US$462-million.

Idaho-based Hecla’s cash and stock offer is worth US$2.47 a share (about $3.23) – a roughly 79-per-cent premium compared with Friday’s closing price.

Under the transaction, Hecla is acquiring Klondex’s U.S. gold mines, but its Canadian assets are set to be spun out into a separate publicly traded company, to be owned by existing Klondex shareholders.

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Newcrest dealing with tailings challenges in NSW and PNG – by Matthew Stevens (Australian Financial Review – March 18, 2018)

http://www.afr.com/

Newcrest finds itself uncomfortably poised at the polar extremes of the mining industry’s relentless waste management dilemma.

Unhappy serendipity sees the accident-prone copper and gold miner working to recover the integrity of a thoroughly conventional tailings dam at a mine in distant western New South Wales while promoting plans for a big new mine in Papua New Guinea whose viable future relies on dumping waste directly into the Solomon Sea.

Production at the gold and copper miner’s most consistently profitable operation, the Cadia mine in NSW, was bought to an unexpected halt on March 9 by a “limited” breach in the walls of one of its two tailings dams.

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Indonesian polls may delay Freeport settlement -by John McBeth (Asia Times – March 15, 2018)

http://www.atimes.com/

US mining giant’s planned divestment in world’s largest gold and second largest copper mine threatens to become ensnared in election politics

If the difficult talks between the Indonesian government and American-owned Freeport McMoRan Copper & Gold over the future of Papua’s Grasberg mine drag on beyond mid-year, they might well be postponed until after next year’s legislative and presidential elections.

Analysts believe that as much as he wants to reach an overall settlement in the next two months, President Joko Widodo will not be keen for the negotiations on such key issues as valuation and managerial control to become a distraction ahead of or during the campaign period, which formally begins in mid-September.

Government sources say the president’s main concern is to secure funding commitments for the majority stake Freeport agreed to divest in its Indonesian subsidiary so he can show that progress is being made in implementing the framework agreement the two sides signed six months ago.

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It’s full steam ahead for Victoria Gold’s Eagle Gold project – by Mike Rudyk (CBC News North – March 13, 2018)

http://www.cbc.ca/news/canada/north/

Company says getting $505 million in financing was a make it or break it deal for the Yukon mine

Closing a $505 million deal with investors was tough, but the president of Victoria Gold, John McConnell, says persistence paid off.

Orion Mine Finance, Osisko Gold Royalties Ltd., and Caterpillar Financial came up with the bulk of the financing needed to move the Yukon’s next gold mine forward. Construction began last year, but now Victoria Gold has the cash needed to finish the job.

“It is a very important summer for us, we hope to get 60 to 70 per cent of the construction complete,” said McConnell. The company’s Eagle Gold project is located about 85 kilometres northeast of Mayo. There will be two open pits, and gold will be recovered by a heap leach process.

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Newcrest Mining moves fast on Cadia dam breach, but problems will linger – by James Thomson (Australian Financial Review – March 12, 2018)

http://www.afr.com/

They are three words the mining industry never likes to hear – tailings dam breach.

Fortunately this latest breach, at Newcrest Mining’s Cadia mine, 25 kilometres from Orange in regional NSW, won’t have nearly the same awful headlines that accompanied the tailings dam failure at BHP’s Samarco operations in Brazil.

No one has been injured, and the tailings that have escaped the northern dam have flowed into Cadia’s southern dam. It’s also worth noting that roads have reopened around that southern dam, so thankfully things as well contained as they can be. Newcrest says cracks in the dam were spotted during a routine inspection on Friday; the dam failed at 7pm that evening.

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Tahoe invests in Timmins: Grows in low-risk jurisdiction (Canadian Mining Journal – February 2018)

http://www.canadianminingjournal.com/

Timmins, Ont.-based junior Lake Shore Gold was acquired by Tahoe Resources in 2016 in a friendly, all-stock deal valued at close to $1 billion.

For Tahoe, which already had mines in Guatemala and Peru, the merger brought new gold production, exposure to a low-risk jurisdiction in an established gold camp, and diversification.

“The combination with Lake Shore Gold enhances Tahoe’s position as the new leader in precious metals by adding another low-cost operation in Timmins, one of the most prolific gold camps in the world,” said Tahoe CEO Kevin McArthur at the time. “We are impressed by the long-term presence and see tremendous regional opportunities going forward.”

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Commentary: Women miners shouldn’t be seen as victims – by Leif Brottem (Reuters U.S. – March 8, 2018)

https://www.reuters.com/

Gold mining in Africa has a bad rap — particularly when it comes to women. Depictions of the trade often focus on poverty, environmental destruction, prostitution and harassment. But in the gold mining belt of Mali, one of the world’s poorest countries, the victimization lens does great injustice to the hundreds of women mining alongside men.

Women working in the mines would be the first to say that the work is brutal and uncertain. When I spoke with some of them during a recent visit to Mali, they were clear about the dangers inherent in digging and moving piles of rocks in the hopes of finding a few grams of gold.

But the money they can make gives women financial autonomy and power that would be unimaginable if they remained in their villages to work on their husbands’ farms. Despite its flaws, low-tech artisanal mining empowers them in a way little else does.

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Canadian Gold Mining Has Potential To Be #2 In The World – Wood Mackenzie – by Neils Christensen (Kitco News – March 7, 2018)

http://www.kitco.com/

Kitco News) – Mining investors might want to pay more attention to Canadian projects as the country is expected to have strong production growth in a world that is seeing a decline in the quality of gold deposits, according to one search firm.

In a presentation during the 2018 Prospectors & Developers Association of Canada (PDAC) convention, Vince Madden-Scott, manager of gold cost services at Wood Mackenzie said that his firm sees Canada’s gold production pushing above 300 metric tonnes within the next five years, an increasing 80% from current production levels.

WoodMac’s projections would make Canada the world’s second-largest gold producing nation, behind China. Currently, Canada is the fifth largest producer in the world, Australia, Russia, and the U.S. all recorded higher gold production last year.

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