When Illegal Gold Mining Goes Wrong

When Illegal Gold Mining Goes Wrong

Gold – Illegal gold mining is more common than one might think, and it's often incredibly unsafe. A video has surfaced showing a devastating collapse that took place last May at an illegal gold mine in Colombia. The mine, located in San Antonio near the town of Santander de Quilichao, is one of 14,000 in the country that operated without proper permits.

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Videos

Mickey Fulp: ‘We Need to Eliminate the Zombie Miners’

Gold – Mercenary Geologist Mickey Fulp wasn't able to make it to PDAC this year, but that doesn't mean he wasn't watching what went on at the conference. In this video, Fulp delivers interesting information about the finances of some companies in attendance, also touching on issues currently plaguing many major gold miners.

Company News

Fission Uranium Increases Bought Deal to $17.4 Million

Uranium – Fission Uranium Corp. (TSX:FCU) announced it has entered into a revised letter of engagement with Dundee Securities Ltd. on behalf of a syndicate of underwrites that include BMO Capital Markets, Macquarie Capital Markets Canada Ltd., Raymond James Ltd. and TD Securities Inc. The company sent out another press release earlier today outlining a bought deal for $15 million, which has since been revised to the amounts as follows. The underwrites have agreed to purchase 11,600,000 flow-through common shares of the company on a bought deal basis at a price of $1.50 per flow-through share for total gross proceeds of $17,400,000.

Hinto Energy Forms Advisory Board

Hinto Energy Forms Advisory Board

Oil – Hinto Energy Inc. (OTCQB:HENI) has established an Advisory Board to assist in the identification and evaluation of new and existing opportunities in the current market; and welcomes Lloyd Borders as its initial member. Mr. Borders has over 30 years of energy industry experience, specifically in resource -elated asset valuation and related acquisitions and divestures.

Norilsk Nickel Plans to Buyback $500m shares

Nickel – Mineweb reported that Russia’s Norilsk Nickel (MCX:GMKN) plans to buy back up to $500 million of its shares in 2015, after earnings of last year were raised due to a weaker rouble and higher metals prices.

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Company Videos

Cobre Montana’s Adrian Griffin Talks Lithium in the Czech Republic

Lithium – Cobre Montana (ASX:CXB) Managing Director Adrian Griffin is anticipating a Scoping Study for the Cinovec project in the Czech Republic, "within the next couple of months." He also said, "if you go back only 2 months, that project was considered a tin project; by applying the appropriate technology, we found that there is probably twice as much lithium value in that project as there is tin." Cobre Montana applied their licensed processing technology to extract lithium from the micas and achieved float recoveries of 98% and leach extraction of 99.5% lithium at Cinovec.

Potash West Managing Director Patrick McManus Talks Potash in Australia and Germany

Potash – Potash West (OTC:PWNNY,ASX:PWN) Managing Director, Patrick McManus, provided an update on the Dandaragan Trough Project in Western Australia and potash projects in Germany: "the feasibility on the Dinner Hill Project within the Dandaragan Trough is progressing; we should be announcing an updated resource on that within the next two to three months. In addition to that, the German project, specifically the Küllstedt project area has a large amount of drilling on it in the last several decades - we are currently reviewing that and we expect to be announcing an update of that drilling work within the next month."

Market News

China Restarts Nuclear Power Plant Construction

Uranium – World Nuclear News reported that China has now resumed construction of new nuclear power plant projects, starting with the fifth unit at the Hongyanhe nuclear plant in Liaoning. All nuclear construction in China has been halted for the past 15 months.

Iron Ore Price Drops to Six Year Low

Iron – Australian Mining reported that iron ore prices in China have hit a six-year low level, as China copes with its struggling property market.

Increasing Doubts about North Korea’s Huge Rare Earths Deposit

Rare Earth – Australian Mining reported that a supposedly massive rare earths deposit discovered in North Korea in 2013 is being doubted. The deposit was discovered by a joint venture between SRE Minerals and state owned Korea Natural Resources Trading Company, with early reports stating that had the potential to hold reserves 6 times as large as those in China.

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