Terrane Metals (CDNX:TRX.V) reported Friday that they've closed two financings which raised C$100-million for them.
Goldcorp (TSE:G) had a private placement worth C$30-million, while Terrane raised the other C$70-million financing via a non-brokered bought deal. Goldcorp is the largest shareholder in the company.
Terrane said they'll use the funds at its flagship Mount Milligan gold/copper project, which is scheduled for construction in 2010.
There are about 6 million ounces in gold reserves at their flagship mine, and an estimated 2.2 billion pounds of copper reserves.
Showing posts with label Gold Reserves. Show all posts
Showing posts with label Gold Reserves. Show all posts
Saturday, April 17, 2010
Monday, March 22, 2010
Barrick Gold (TSE:ABX) Increases Reserve Estimates at Donlin Creek
Barrick Gold Donlin Creek Gold Project
Barrick Gold (TSE:ABX), which holds a 50 percent stake in the Donlin Creek Gold Project with NovaGold Resources (TSE:NG), has increased the reserve/resource estimates for its Donlin Creek Gold Project by 4.3 million ounces.
The amount of reserve/resource of gold at the site now stands at an estimated 33.6 million ounces.
Barrick Gold's portion of the gold reserves, along with NovaGold's, are 16.8 million ounces each.
Barrick Gold (TSE:ABX), which holds a 50 percent stake in the Donlin Creek Gold Project with NovaGold Resources (TSE:NG), has increased the reserve/resource estimates for its Donlin Creek Gold Project by 4.3 million ounces.
The amount of reserve/resource of gold at the site now stands at an estimated 33.6 million ounces.
Barrick Gold's portion of the gold reserves, along with NovaGold's, are 16.8 million ounces each.
Thursday, March 11, 2010
Hecla (NYSE: HL) Increased Reserves "Lucky Friday Mine"
Hecla Mining 'Lucky Friday Mine' Reserves
Hecla Mining (NYSE: HL) said recently that their "Lucky Friday Mine" has shown strong potential for the future for its reserves, as exploration on the mine continues.
Over the last year drilling at the mine has provided some promising results. Reserves could rise as high as 77 percent more than originally thought after the drilling results came in.
The 30 vein was particularly strong on reserves, with intercepts of 85 ounce a ton silver and 32.7 percent for lead and zinc together.
Hecla Mining 'Lucky Friday Mine' Reserves
Hecla Mining (NYSE: HL) said recently that their "Lucky Friday Mine" has shown strong potential for the future for its reserves, as exploration on the mine continues.
Over the last year drilling at the mine has provided some promising results. Reserves could rise as high as 77 percent more than originally thought after the drilling results came in.
The 30 vein was particularly strong on reserves, with intercepts of 85 ounce a ton silver and 32.7 percent for lead and zinc together.
Hecla Mining 'Lucky Friday Mine' Reserves
NovaGold Resources (AMEX:NG) Hold Any Gold?
NovaGold Resources Gold Reserves
It's hard to tell what it is that's driving up the share price of NovaGold Resources (AMEX:NG), as there seems to be nothing to indicate the company has much if anything in reserves, as noted by the difference in classification between them and Barrick Gold (NYSE:ABX) over their jointly owned Donlin Creek property.
NovaGold claims 60 percent of the resources at Donlin are reserves, while Barrick lists the property as having no reserves. Someone's wrong there.
NovaGold has had a scandalous past, and taking into consideration they haven't had positive revenue and continue in negative cash flow from 2004 to 2009, you have to wonder what's going on there and if it's a shell company with no assets.
NovaGold Resources Gold Reserves
It's hard to tell what it is that's driving up the share price of NovaGold Resources (AMEX:NG), as there seems to be nothing to indicate the company has much if anything in reserves, as noted by the difference in classification between them and Barrick Gold (NYSE:ABX) over their jointly owned Donlin Creek property.
NovaGold claims 60 percent of the resources at Donlin are reserves, while Barrick lists the property as having no reserves. Someone's wrong there.
NovaGold has had a scandalous past, and taking into consideration they haven't had positive revenue and continue in negative cash flow from 2004 to 2009, you have to wonder what's going on there and if it's a shell company with no assets.
NovaGold Resources Gold Reserves
Tuesday, March 9, 2010
Eldorado Gold (NYSE:EGO) Gold Reserves Up 42 Percent
Gold Reserves at Eldorado Gold Eastern Dragon Project
The Eastern Dragon Project in China has exceeded original proven and probable gold reserves by a large margin, as Eldorado Gold (NYSE:EGO) now estimates about 747,000 ounces now in the mine, and more possibly to be discovered.
Just on the most recent revised data the company has increased its exploration budget at the mine by $2.4 million, as they search other vein structures for more gold resources at their prolific project.
Gold Reserves at Eldorado Gold Eastern Dragon Project
The Eastern Dragon Project in China has exceeded original proven and probable gold reserves by a large margin, as Eldorado Gold (NYSE:EGO) now estimates about 747,000 ounces now in the mine, and more possibly to be discovered.
Just on the most recent revised data the company has increased its exploration budget at the mine by $2.4 million, as they search other vein structures for more gold resources at their prolific project.
Gold Reserves at Eldorado Gold Eastern Dragon Project
Friday, March 5, 2010
New Gold (AMEX:NGD): Gold Production Increasing
New Gold Production
Gold production from New Gold (AMEX:NGD) has been revised upwardly from between 330,000 to 360,000 ounces for 2010. That is in contrast to 310,773 ounces in 2009.
New Gold has operational mines in the U.S. and Australia, and projects are being developed in Canada and Chile.
In their recent quarterly report, New Gold said gold production in the fourth quarter reahced 111,672 ounces, an increase of 41 percent from the year before at the same time.
Revenue exploded for the company in fourth quarter, surging to $131.8 million, a big increase from the $36.7 million. Much of that was attributed to higher gold prices and increased production at their Mesquite mine.
New Gold Production
Gold production from New Gold (AMEX:NGD) has been revised upwardly from between 330,000 to 360,000 ounces for 2010. That is in contrast to 310,773 ounces in 2009.
New Gold has operational mines in the U.S. and Australia, and projects are being developed in Canada and Chile.
In their recent quarterly report, New Gold said gold production in the fourth quarter reahced 111,672 ounces, an increase of 41 percent from the year before at the same time.
Revenue exploded for the company in fourth quarter, surging to $131.8 million, a big increase from the $36.7 million. Much of that was attributed to higher gold prices and increased production at their Mesquite mine.
New Gold Production
Thursday, March 4, 2010
Yamana Gold (NYSE:AUY) Misses Profits On Executive Bonuses
Yamana Gold Executive Bonuses
Yamana Gold (NYSE:AUY) said it missed its profit numbers in the fourth quarter because of Executive bonuses, which drove up the selling, general and administrative costs of the company for the quarter.
Revenue was also down in the quarter, coming in at around $400 million when analysts had been looking for over $420 million.
More concerning for Yamana is the gold it claims is under the earth they dig didn't increase in 2009, giving the obvious impression they miscalculated the amount of provable reserves there in the first place.
Still, from an operational standpoint that's encouraging in that they were on top of costs in general because they were able to pay out bonuses while only missing the profit target per share by a penny.
Yamana Gold Executive Bonuses
Yamana Gold (NYSE:AUY) said it missed its profit numbers in the fourth quarter because of Executive bonuses, which drove up the selling, general and administrative costs of the company for the quarter.
Revenue was also down in the quarter, coming in at around $400 million when analysts had been looking for over $420 million.
More concerning for Yamana is the gold it claims is under the earth they dig didn't increase in 2009, giving the obvious impression they miscalculated the amount of provable reserves there in the first place.
Still, from an operational standpoint that's encouraging in that they were on top of costs in general because they were able to pay out bonuses while only missing the profit target per share by a penny.
Yamana Gold Executive Bonuses
Wednesday, March 3, 2010
AngloGold Ashanti (NYSE:AU): Peak Gold?
AngloGold Ashanti Search for Gold in Oceans
AngloGold Ashanti (NYSE:AU) is starting to comb the bottom of the sea for gold deposits as the demand for gold increases and the supply continues to diminish.
There is no end to gold demand in sight, yet there is an end to easy to access gold fields, and not only are the ocean floors a major place to look, but even hostile regions of the world are being considered a places to mine the yellow metal.
For AngloGold, they're in a joint venture with De Beers, the diamond producer for the purpose of exploring underwater locations for possible gold deposits.
The beginning operations are off the coast of New Zealand, and from there they could go as far away as Canada or South America, depending on their success over the next several years.
AngloGold Ashanti Search for Gold in Oceans
AngloGold Ashanti (NYSE:AU) is starting to comb the bottom of the sea for gold deposits as the demand for gold increases and the supply continues to diminish.
There is no end to gold demand in sight, yet there is an end to easy to access gold fields, and not only are the ocean floors a major place to look, but even hostile regions of the world are being considered a places to mine the yellow metal.
For AngloGold, they're in a joint venture with De Beers, the diamond producer for the purpose of exploring underwater locations for possible gold deposits.
The beginning operations are off the coast of New Zealand, and from there they could go as far away as Canada or South America, depending on their success over the next several years.
AngloGold Ashanti Search for Gold in Oceans
Tuesday, March 2, 2010
Red Back Mining (TSE:RBI) Reserves Increasing
Red Back Mining Gold Reserves
Red Back Mining (TSE:RBI) has enjoyed some good news over the last several days as reports of increased reserves continue, this time, again, at their Tasiast Mine in Mauritania.
Proven reserves overall were increased by 64 percent to about 5 million ounces, bringing the total to 49.4 million tons. That is graded at 1.36 grams a ton.
For reserves graded at 1.4 grams a ton, probable reserves are at around 61.5 million tons.
CEO and President fo Red Back Mining, Rick Clark said the company is looking "forward to reporting further Reserve increases and other exploration results in the coming months."
Red Back Mining Gold Reserves
Red Back Mining (TSE:RBI) has enjoyed some good news over the last several days as reports of increased reserves continue, this time, again, at their Tasiast Mine in Mauritania.
Proven reserves overall were increased by 64 percent to about 5 million ounces, bringing the total to 49.4 million tons. That is graded at 1.36 grams a ton.
For reserves graded at 1.4 grams a ton, probable reserves are at around 61.5 million tons.
CEO and President fo Red Back Mining, Rick Clark said the company is looking "forward to reporting further Reserve increases and other exploration results in the coming months."
Red Back Mining Gold Reserves
Silver Wheaton (NYSE: SLW) Doubles Reserves
Silver Wheaton Silver and Gold Reserves
Silver Wheaton Corp. (NYSE: SLW) announced it has doubled its probable and provable gold and silver reserves in 2009, bring them to record highs for the company.
Reserves increasing for silve came to 431 million ounces for the year, while gold reserves grew to 220,000 ounces.
Total silver reserves now stand at 875 million ounces.
Silver Wheaton attributed the increase in reserves to their acquisition of Silverstone Resources last year and also a number of new agreements they had entered into with silver mines.
Silver Wheaton Silver and Gold Reserves
Silver Wheaton Corp. (NYSE: SLW) announced it has doubled its probable and provable gold and silver reserves in 2009, bring them to record highs for the company.
Reserves increasing for silve came to 431 million ounces for the year, while gold reserves grew to 220,000 ounces.
Total silver reserves now stand at 875 million ounces.
Silver Wheaton attributed the increase in reserves to their acquisition of Silverstone Resources last year and also a number of new agreements they had entered into with silver mines.
Silver Wheaton Silver and Gold Reserves
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