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Posts tagged ‘Osisko Mining Corp (OSK)’

April 16th, 2014

Yamana, Agnico Eagle team up to acquire Osisko in friendly deal Stockhouse
Three key metrics to identify a superstar investment Streetwise Reports
How Russia is working together with China Equedia
IM22 conference: Innovation will lead the way for industrial minerals Industrial Minerals
Alluvial and placer mineral deposits Geology for Investors
Dark markets may be more harmful than high-frequency trading VantageWire
Infographic—Unearthing the world’s gold supply GoldSeek

March 21st, 2014

Fission adviser outlines reasons why uranium prices are only going up Stockhouse
Asteroid minerals mining to be achieved within five years Industrial Minerals
China opens door further to foreign stock investors VantageWire
Michael Gray: Is Goldcorp’s bid for Osisko a harbinger of a gold renaissance? Streetwise Reports
Eric Sprott: The U.S. economy’s non-recovery GoldSeek
From exploration to opening a mine Geology for Investors
A sign of things to come—gold outlook 2014 Equedia

March 20th, 2014

Asteroid minerals mining to be achieved within five years Industrial Minerals
China opens door further to foreign stock investors VantageWire
Michael Gray: Is Goldcorp’s bid for Osisko a harbinger of a gold renaissance? Streetwise Reports
Eric Sprott: The U.S. economy’s non-recovery GoldSeek
Rushing for gold on the Kapuskasing structural zone Stockhouse
From exploration to opening a mine Geology for Investors
A sign of things to come—gold outlook 2014 Equedia

East dominated M&A in 2013, expect overall uptick this year—PwC report

February 26th, 2014

by Ana Komnenic | February 26, 2014 | Reprinted by permission of MINING.com

East dominated M&A in 2013, expect overall uptick this year—PwC report

 

The bad news first: 2013 was the worst year for mergers and acquisitions in recent history, with the volume of deals dropping 33% to the lowest level since 2005.

Now for the good news: According to PricewaterhouseCoopers’ latest Global Mining Deals report, the mining industry can expect an uptick in M&A throughout 2014.

Though these deals will be “smarter, more conservative,” 2014 will be characterized by joint ventures, mid-tier buyers and more mergers or sales from juniors, PwC predicts. The gold price drop will also make buying gold assets more appealing—especially in Canada.

“You aren’t going to see the big dollars in riskier jurisdictions,” PwC wrote, quoting Brett Mattison of Gold Fields NYE:GFI.

As evidence of a strong start to the year, PwC points to Goldcorp’s TSX:G hostile takeover bid for Osisko TSX:OSK—though Osisko has called the offer “opportunistic” and some say Goldcorp is trying to take advantage of a weak gold market.

“The turnaround won’t mirror the surge in movement we saw back in 2011, but expect deal making to resurface in most parts of the world this year as both an opportunity and in some cases a necessity for companies across the sector,” PwC global mining leader John Gravelle said in a statement.

“Companies have been cleaning up their balance sheets and putting off decisions, waiting for the right time to act—that timing is near.”

Overall, PwC expects deal activity to increase this year—reaping “long-term gain” from “short-term pain.”

While it’s well known that M&A dropped off in a big way last year, PwC revealed something new in its latest report: The Eastern world dominated M&A activity last year. In fact, “the East accounted for nearly half of the deals by value in 2013, or about 45%, while the West represented about 36%,” PwC wrote.

East dominated M&A in 2013, expect overall uptick this year—PwC report

“Looking ahead, many Western-based majors are still going to wait for commodity prices to stabilize, concentrating on cash costs, rationalizing their assets and trying to divest assets as a way to pay down debt and fund existing operations,” Gravelle said.

The rich and powerful from Russia and Kazakhstan in particular bought up assets while major mining companies such as Rio Tinto NYE:RIO and Barrick TSX:ABX were selling.

The biggest deal of 2013 was in Russia, where Gavril Yushvaev and Zelimkhan Mutsoev purchased nearly half of Polyus Gold from billionaire Mikhail Prokhorov.

Reprinted by permission of MINING.com

January 14th, 2014

Simon Moores’ 2014 graphite outlook: Price rebound, supply shift and new end uses Streetwise Reports
Goldcorp needs to sweeten “miserly” $2.6-billion Osisko bid: analyst Stockhouse
Federal reserve said to probe banks over Forex fixing VantageWire
Fluorspar analysis: Q1 2014 outlook Industrial Minerals
Making your portfolio resilient to commodity prices GoldSeek
Pondering 2014 stock performance Equedia

January 14th, 2014

Goldcorp needs to sweeten “miserly” $2.6-billion Osisko bid: analyst Stockhouse
Federal reserve said to probe banks over Forex fixing VantageWire
Fluorspar analysis: Q1 2014 outlook Industrial Minerals
Zinc or swim: Do base metals have a future? Streetwise Reports
Making your portfolio resilient to commodity prices GoldSeek
Pondering 2014 stock performance Equedia

January 14th, 2014

Goldcorp needs to sweeten “miserly” $2.6-billion Osisko bid: analyst Stockhouse
Federal reserve said to probe banks over Forex fixing VantageWire
Fluorspar analysis: Q1 2014 outlook Industrial Minerals
Zinc or swim: Do base metals have a future? Streetwise Reports
Making your portfolio resilient to commodity prices GoldSeek
Pondering 2014 stock performance Equedia

January 13th, 2014

Goldcorp offering to buy Osisko in stock-and-cash deal worth $2.6 billion Stockhouse
Federal reserve said to probe banks over Forex fixing VantageWire
Fluorspar analysis: Q1 2014 outlook Industrial Minerals
Zinc or swim: Do base metals have a future? Streetwise Reports
Making your portfolio resilient to commodity prices GoldSeek
Pondering 2014 stock performance Equedia

Week in review

November 30th, 2012

A mining and exploration retrospect for November 24 to 30, 2012

by Greg Klein

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Amalgamation, acquisitions bring big news to Canada’s uranium play

Friday’s announcement from Clermont Capital Inc TSXV:XYZ.P and NexGen Energy Ltd shows companies joining forces to combine money, projects and expertise in uranium exploration. Clermont announced a letter of intent to acquire NexGen in a three-cornered amalgamation in which a Clermont subsidiary amalgamates with NexGen to create a new Clermont subsidiary. The capital pool company intends the acquisition as a qualifying transaction to become a TSXV Tier-2 issuer.

So there’s good money and a good technical team coming behind the deal. And it’s happening when the market’s clearly hungry for a discovery. It sure looks like Fission and Alpha have something to be excited about. We hope that we can be part of that ride as well.—Clermont Capital president/CEO/director Arlen Hansen on a planned amalgamation with NexGen Energy and properties acquisition

Currently NexGen’s key asset is the Radio uranium project in northern Saskatchewan’s Athabasca Basin. NexGen holds an option to acquire an initial 70%, then the remaining 30% subject to a 2% NSR. Exploration has identified drill targets that are interpreted to be on the same structural trend as Rio Tinto’s Roughrider deposits and Fission Energy’s TSXV:FIS J-Zone. Roughrider holds resources of 17.2 million pounds U3O8 indicated and 40.7 million pounds inferred, while the J-Zone holds 7.37 million pounds indicated and 1.51 million pounds inferred. NexGen plans drilling in Q1 2013.

NexGen’s wholly-owned Rook 1 property sits directly northeast of the near-surface Patterson Lake South uranium project, a JV of Fission and Alpha Minerals TSXV:AMW.

On November 15 NexGen announced a definitive agreement to purchase the majority of Mega Uranium’s TSX:MGA Canadian projects in the Athabasca Basin and Nunavut’s Thelon Basin. As a result, Mega is anticipated to acquire up to a 38% interest in NexGen.

Among the conditions for the Clermont-NexGen acquisition, NexGen would close a private placement of at least $6.6 million. Prior to closing the acquisition, Clermont would consolidate its shares on a 2.35-for-one basis. On closing, NexGen shareholders would receive one post-consolidation Clermont share for each NexGen share.

Speaking to ResourceClips Friday afternoon, Clermont president/CEO/director Arlen Hansen said, “It’s a very large land package and uranium exploration takes a lot of time and money, so we’re getting the NexGen operational team, which includes some ex-Rio Tinto guys and Leigh Curyer, who raised hundreds of millions of dollars for Southern Cross before it was taken out in the uranium sector as well.

“So there’s good money and a good technical team coming behind the deal. And it’s happening when the market’s clearly hungry for a discovery. It sure looks like Fission and Alpha have something to be excited about. We hope that we can be part of that ride as well.”

U3082014 apologizes. Now VMS goes after axeman#, tamerackerdown and nttg2005

A mining and exploration retrospect

VMS Ventures TSXV:VMS greeted Friday by announcing progress in its battle against anonymous posters on the Stockhouse bullboard. Following what the company alleges to have been “false and malicious posts” between November 2, 2010 and May 10, 2012, VMS has now received court orders requiring internet service providers to identify three more commentators. The company had already obtained court orders requiring Stockhouse to divulge their internet protocol addresses. VMS said it “intends to pursue all legal options available against these posters in order to protect its reputation.”

The company also announced a settlement with a poster identified as U3082014 regarding statements uploaded between April 15, 2011 and August 27, 2012. Details are confidential, apart from the apology U3082014 submitted to VMS’ lawyers in September and posted on Wednesday.

Richmont closes Francoeur Mine, suspends Wasamac exploration

Francoeur had been struggling but, just the same, the news seemed sudden. Richmont Mines TSX:RIC announced Thursday the immediate shutdown of its 20-year-old gold mine in Quebec’s Rouyn-Noranda region. President/CEO Paul Carmel blamed the decision on high costs due to “low realized grades, difficult mining conditions and a tight labour pool for the experienced miners required for the challenging mining conditions at Francoeur.” As recently as November 8, however, Carmel sounded fairly optimistic as he spoke of “ramping up the Francoeur Mine to full production levels.”

The company’s pre-tax write-off will range between $11 million and $13 million. Immediate layoffs hit 115 workers, while another 35 will stay on for four months of decommissioning. Richmont is holding to its 2012 guidance of 65,000 ounces but 2013 is estimated between 65,000 and 70,000 ounces, down from a previous projection of 85,000 to 95,000 ounces. The company also operates the Beaufor Mine near Val d’Or, Quebec and the Island Gold Mine in northern Ontario.

Exploration at Richmont’s Wasamac gold project near Rouyn-Noranda has been suspended until next year.

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Going it alone

November 12th, 2012

Micro-cap Gowest Gold aims for 2015 production

by Greg Klein

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Not all companies follow the same path to production. In fact they can diverge radically, as two November 12 announcements show.

Queenston Mining TSX:QMI is poised to follow the more common route. A smaller company develops and de-risks a deposit until it’s all but irresistible to a bigger company. The latter then makes an offer shareholders rarely refuse. In this case, Osisko Mining TSX:OSK is offering 0.611 of one of its shares for each Queenston share. Based on Osisko’s November 9 close of $9.82, the offer was worth $6 per Queenston share. Queenston had closed that day at $5.01. The November 12 announcement then saw Osisko drop to a $9.02 close, making its 0.611 offer worth $5.51. Queenston, meanwhile, closed November 12 at $5.75. Nevertheless Queenston seems ready for acquisition, whether by Osisko or another mid-tier outfit.

But for another company, the path to production might not require wealthy suitors or even large capitalization. Gowest Gold TSXV:GWA closed November 12 at $0.095 for a market cap of $12.53 million. Even so, it’s determined to take its Frankfield East gold deposit into production by Q1 2015, and to do so itself—well, with a little help from some friends.

Micro-cap Gowest Gold aims for 2015 production

Gowest Gold plans to use high-tech ore-sorting and
third-party processing to begin mining quicker and cheaper.

The company hopes to shorten the path and lower the capex by contracting a third party to produce high-grade concentrate. That, in turn, would be sold to a customer who would refine it further. Gowest’s location in the Timmins mining camp helped the company find a processor with sufficient capacity, which led to the memorandum of understanding announced November 12.

“It’s a matter of building the mine a couple of years sooner and putting less than a third of the capital into it than if we tried to do it ourselves,” says IR manager Greg Taylor. “That would mean generating cash flow a couple of years early, and then we’d make a separate decision on whether to continue doing it that way or to build our own plant after we’ve already started mining.”

To that end, Gowest is now working on engineering, metallurgical and mine development studies prior to hammering out a final agreement with the mill operator next year. A report announced last February suggests the mill would produce concentrate grading over 90 grams per tonne gold.

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