Capstone Copper Corp. (TSX: CS) and Orion Mine Finance have entered into an agreement with a syndicate of underwriters led by National Bank Financial Inc. and Scotia Capital Inc. under which the underwriters have agreed to purchase, on a bought deal basis from Orion, 50,000,000 common shares of Capstone at a price of $5.70 for gross proceeds to Orion of...
Gold miners have shed the exuberant skin they formed as failing banks sent investors rushing for safe havens early this week. That has been replaced by a nervous atmosphere, with nailbiting all round as gold producers wait to see where the US Fed heads with interest rates tonight. Prices fell over 2% overnight, with the London Bullion Marketing Association reporting...
Russian diversified metals producer Nornickel is rehauling its Taimyrsky mine, and the upcoming completion of the Bolshoi Gorst area project is set to increase its production capacity, the company announced. Nornickel launched the investment project targeting the Bolshoi Gorst area in 2009. The project was divided into five parts, and the final one is nearing completion. The cost of the...
Copper yesterday settled up by 0.48% at 758.35 as worries over a global banking crisis eased, with copper further supported by improving consumption in China. Measures by authorities to avert a global banking crisis lifted market confidence as investors welcomed a historic Swiss-backed acquisition of troubled Credit Suisse (SIX:CSGN) by UBS Group and emergency dollar liquidity from top central banks....
Canadian mining firm McEwen Mining has pushed out plans for going public with its copper venture to later in the year or early next year, chairperson and chief owner Rob McEwen said on Tuesday, noting that the recent investments by European automotive group Stellantis and diversified major Rio Tinto have reduced the urgency to do an initial public offering (IPO)....
Antilles Gold Ltd (ASX:AAU, OTCQB:ANTMF) is conducting a pro-rata non-renounceable entitlement issue of a new class of options to fund the exploration of its copper prospects in Cuba. Options will have an exercise price of A$0.10 per option, expiring on June 30, 2025, with eligible shareholders of the company receiving one new option for every three fully paid ordinary shares...
London-listed Aterian has announced results, including 4.43% copper and 3.11% copper from brecciated vein samples, from geological work completed on its Jebilet Est project. The project, which covers an area of 45.2 km2, is located north of Marrakech within the Marrakech-Safi region of Morocco. The project is one of 15 copper, silver and base metal projects owned by Aterian which...
Two Sigma Investments LP grew its holdings in shares of Southern Copper Co. (NYSE:SCCO – Get Rating) by 69.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 207,528 shares of the basic materials company’s stock after purchasing an additional 85,178 shares during the period. Two Sigma Investments LP’s holdings in Southern Copper...
Copper prices faltered on Tuesday, unsettled by worries about the knock-on impact of a U.S. banking crisis, a stronger dollar and a slow recovery of demand in top metals consumer China. Three-month copper on the London Metal Exchange CMCU3 shed 0.6% to $8,878.50 a tonne by 1130 GMT after rising by 0.7% on Monday. LME copper has dropped 7% since...
On Monday, global mining group Rio Tinto announced the commencement of underground production from the Oyu Tolgoi copper mine in the Gobi Desert, Mongolia. In a statement, Rio Tinto said that the Prime Minister of Mongolia, Luvsannamsrain Oyun-Erdene, today joined Rio Tinto Chief Executive Jakob Stausholm 1.3 kilometres underground to celebrate this milestone. “Since the agreement between the Government of...
