Wednesday, July 19, 2017

State of emergency in B.C. extended as wildfires rage

B.C. took the unprecedented step on Wednesday of extending a state of emergency by two weeks as it battles 140 wildfires that have forced about 45,000 people from their homes. On July 7, B.C. declared its first state of emergency since 2003 as gusting winds fanned fires in the tinder-dry central and southern regions.
The fires have shuttered mines and timber operations and damaged homes and electrical infrastructure. At least seven lumber mills operated by West Fraser Timber Co., Norbord Inc., and Tolko Industries Ltd. have been affected. Lumber futures on Monday jumped by the exchange limit in Chicago to the highest in more than two months.

Imperial Metals suspended operations at its open-pit Mount Polley copper and gold mine near Williams Lake after an evacuation order was issued in the region. Taseko Mines idled its copper-molybdenum Gibraltar mine.

Element Fleet Management Corp. - EFN.t

Element Fleet Management Corp. - EFN.t is one of North America’s leading fleet management and equipment finance companies. On October 3, 2016, Element Financial separated into two public companies - an $18 billion fleet management company (Element Fleet Management) and a North American commercial finance company (ECN Capital) with $8.2 billion in owned and managed assets.

On June 8, 2017 the company released News

Element Fleet Management Corp. today announced the Toronto Stock Exchange (the “TSX”) has approved the Company’s notice of intention to commence a Normal Course Issuer Bid.









http://canadastockjournal.blogspot.com/2016/05/element-financial-corporation-efnt.html

Tuesday, July 18, 2017

Outgoing B.C. Liberals Issue Mining Permits in Tsilhqot’in Territory to Taseko

The Tsilhqot’in First Nation — currently under an evacuation order due to B.C.’s wildfires — learned Monday that permits have been issued for mining company Taseko (TKO.t) to conduct exploration for the New Prosperity mine, an open pit gold and copper mine twice rejected at the federal level. Monday was the outgoing B.C. Liberal government’s final day in power.

Chief Roger William of the Gwet’in First Nation, one of six tribes of the Tsilhqot’in, said “We’re certainly outraged about it. Our people, they found out as we’re dealing with fire and now we’re dealing with a three-year drilling program.”
The permits grant Taseko permission to create 76 kilometres of new or modified trails, 122 exploratory drill holes, 367 excavated test pits and 20 kilometres of seismic lines near Fish Lake, also known as Teztan Biny, an area of great significance for the Tsilhqot’in.

According to Elections B.C. Taseko donated over $123,000 to the B.C. Liberals between 2008 and 2014.

Dominion Diamond Corporation - DDC.t

Dominion Diamond Corporation - DDC.t is a Canadian diamond mining company with ownership interests in two major producing diamond mines in Canada’s Northwest Territories. The Company operates the Ekati Diamond Mine (88.9% controlling interest) and also owns 40% of the Diavik Diamond Mine.

The company is the world’s third largest producer of rough diamonds by value.




On July 17, 2017 the company reported News

Dominion Diamond Corp. and The Washington Companies, a group of privately held North American mining, industrial and transportation businesses founded by industrialist and entrepreneur Dennis R. Washington, have entered into an arrangement agreement under which an entity affiliated with Washington will acquire all of Dominion's outstanding common shares for $14.25 (U.S.) per share in cash or a total equity value of approximately $1.2-billion (U.S.)









http://canadastockjournal.blogspot.com/2016/04/dominion-diamond-corporation-ddct.html

Monday, July 17, 2017

Lucara Diamond's ‘Lesedi La Rona’ too big to sell?

Industry insiders say Lucara Diamond Corp will have to cut its tennis ball-sized rough diamond to find a buyer. Bidding for the 1,109 carat stone stalled at $61 million at Sotheby's last year — short of the $70 million reserve. Lucara’s CEO William Lamb thought that ultra-rich collectors, who buy and sell precious art works for record-breaking sums at auction, would do the same with a diamond. That bet failed.

There is a “very, very small universe” of companies with the skill, money and network to polish and sell the Lesedi said Lamb. A Dubai trading company paid a record US$63 million for Lucara’s 813-carat ‘Constellation’, while British diamond dealer Laurence Graff bought a 374-carat stone for US$17.5 million.
See ----->http://canadastockjournal.blogspot.ca/2015/11/lucara-finds-1111-carat-diamond-second.html
See ----->http://pennystockjournal.blogspot.ca/2014/08/lucara-diamond-corp-luct.html

Kinross Gold Corporation - K.t

Kinross Gold Corporation - K.t is a global gold producer from ten mines located in South America, North America, West Africa and Russia.

Production was 2.8 million gold equivalent ounces in 2016 at AISC of $987. The company expects 2017 production of between 2.5 - 2.7 million Au at AISC of $925 - $1025.


On July 6, 2017 the company released News

Kinross Gold Corporation (TSX: K)(NYSE: KGC) ("Kinross") announced today that it has closed its previously-announced offering of debt securities, consisting of US$500 million principal amount of its 4.50% Senior Notes due 2027. The notes are unsecured, senior obligations of Kinross and are wholly and unconditionally guaranteed by certain of Kinross' wholly-owned subsidiaries that are also guarantors under Kinross' senior unsecured credit agreement. Kinross intends to use the net proceeds, along with available cash on hand, to repay its term loan, which is due August 2020.















http://canadastockjournal.blogspot.com/2014/11/kinross-gold-corporation-kt.html



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