Mercator Minerals Ltd. reported 1Q12 revenues of $65.2 million, an increase of 17% over 1Q11, while gross profit was $17.9 million in the recent period, an increase of 12% over the comparable three months of 2011. Cash flow from operations (before changes in non-cash working capital items) was $7.1 million in 1Q12, compared to...
Augusta Resource Corp. said this morning that its Rosemont copper/moly/silver mine south of Tucson has been issued its Aquifer Protection Permit by the Arizona Department of Environmental Quality. The APP establishes the operating standards and controls to ensure the protection of ground water and is effective for the life of the mine. Rosemont has now...
The Sichuan branch of the China Development Bank has confirmed the basic terms underlying a proposed $665 million term loan to finance the Mt. Hope molybdenum project in Nevada, General Moly Inc. confirmed yesterday. While there are no binding commitments at this time, the loan facility will now progress through drafting and syndication and...
Measured and indicated resources at its KSM (Kerr, Sulphurets, Mitchell) property in northern British Columbia now total 49.9 million ounces of gold, 12.7 billion pounds of copper, 261 million ounces of silver and 304 million pound of molybdenum, Seabridge Gold Inc. said this morning. Seabridge said that a successful 2011 drill campaign at its...
Thompson Creek Metals Co. Inc. reported yesterday that the commissioning of its new Endako mill near Fraser Lake, BC is complete and that commercial production was achieved on Feb. 1. For the first five days of February, the new mill was running at or above its design capacity of 55,000 tpd, a 77% increase over...
The Battle Mountain, Nev., office of BLM last Friday approved the Mt. Hope Draft Environmental Impact Statement (DEIS) for printing, advancing the document toward publication of a Notice of Availability (NOA) of the DEIS in the Federal Register, General Moly Inc. reported this morning. Once the Mt. Hope DEIS is printed, the NOA will...
Augusta Resource Corp. said this morning that the Forest Service has advanced Rosemont Copper‘s draft Environment Impact Statement (EIS) to the final internal review and printing stage and expects issuance to the public in mid-October. The company had said earlier that copies of the preliminary draft EIS were delivered by the Coronado National Forest...
When a public company in the United States or Canada issues a press release, it has to include “forward-looking information” that takes into account all the things that have to come together before what it’s discussing in the release can happen. If that happens to be bringing a new mine on line, the number...
In its second-quarter earnings report released late yesterday, Thompson Creek Metals Co. Inc. said a variety of factors were causing a delay in construction of the mill expansion at its Endako molybdenum mine near Fraser Lake, 100 miles northwest of Prince George, B.C. The mine is operated as a joint venture with Thompson Creek holding...
Quadra FNX Mining Ltd. has brought Sumitomo on as a 45% partner in what will be a world-class copper/molybdenum mine in Chile, it reported Monday. Sumitomo Metal Mining Co. Ltd. and Sumitomo Corp. will contribute the next $724 million to develop the $2.9 billion operation in the back yard of BHP Billiton’s giant Spence...
