Tuesday, February 21, 2017

Ivory Coast Gold

Ivory Coast is a country in West Africa. It borders Liberia, Guinea, Mali, Burkina Faso, and Ghana; its southern boundary is along the Gulf of Guinea.

Ivory Coast has experienced a coup d’état in 1999, and two religion-grounded civil wars. The first took place between 2002 and 2007 and the second during 2010-2011. Ivory Coast's capital is Yamoussoukro. Abidjan is the administrative center. Ivory Coast has a relatively high income per capita (US$1014.4 in 2013) The country is the world's largest producer of cocoa beans and has over 100,000 rubber farmers.
Ivory Coast is the fastest growing economy in Africa, projected to grow 8.5%.

It is now looking to vast unexploited gold resources to fuel growth. Gold production has grown to 17000 Kg in 2014, a 31% increase from 2013.
With annual production of 7 tonnes of gold, the Tongon mine is the largest gold mine in Ivory Coast. Randgold owns 89% of the mine, the State of Côte d’lvoire 10% and 1% is held by a local company.

Mining at Tongon began in April 2010 and the mine has at least 6 years remaining.
Amara Mining will invest $400 million over the next two years to build one of Africa’s largest gold mines at its Yaoure property in Ivory Coast with production due to start in 2017.

Resources have been evaluated at 6.3 million ounces with the company expecting to produce 325,000 ounces per year. The mine has a projected lifespan of 12 years.
Endeavour Mining Corp - EDV.t operates two mines in Ivory Coast. The 85% owned Agbaou Mine achieved commercial production in early 2014 and is expected to produce 190k ozs.

The Ity Gold Mine has produced more than 1.2 million ounces of gold in its 20+ years of operations and is expected to produce around 75k ozs.

Northern Dynasty Minerals Ltd. - NDM.t

Northern Dynasty Minerals Ltd. - NDM.t flagship is the Pebble Project in southwest Alaska, USA, an initiative to develop one of the world's most significant mineral resources.

On January 26, 2017 the company released NEWS
Northern Dynasty Minerals Ltd. has closed its previously announced bought deal offering, including the exercise in full of the underwriters' overallotment option. A total of 20.24 million common shares of the company were sold at a price of $1.85 (U.S.) per share for gross proceeds of $37,444,000 (U.S.).

On February 14th, 2017 the company released news: NORTHERN DYNASTY RESPONDS TO SHORT AND DISTORT CAMPAIGN

Northern Dynasty Minerals Ltd. has been made aware of a short and distort campaign by Kerrisdale Capital, which has recently published a negative opinion piece, the central theme of which is that Northern Dynasty's massive copper/gold project in Alaska is uneconomic. "All this enthusiasm is misplaced. We believe Northern Dynasty is worthless."

Monday, February 20, 2017

Rio Tinto gifts Bunder Project to Madhya Pradesh

Mining giant Rio Tinto (ASX, LON:RIO) is handing its shelved Bunder diamond deposit in India to the state government of Madhya Pradesh, where the mine is located. The company, which spent almost $120 million on the asset discovered in 2004, had planned to invest an extra $500 million to develop it. But Rio decided last year to mothball it due to regulatory hurdles, local opposition and weak diamond prices.
The Bunder deposit is located in the Bundelkhand region of Madhya Pradesh, 500km south east of Delhi. Rio Tinto discovered the deposit in 2004 as part of a regional exploration reconnaissance programme which began in 2002. The order of magnitude study in October 2008 indicated that the Bunder deposit was likely to yield 37.4 million tonnes of kimberlite containing about 27.4 million carats of diamonds.
The Bunder project was Rio Tinto's most advanced diamond mining project. The total investment to develop the mine was estimated at least 2,000 crore rupees (US$500 million).

It would have been the first new diamond mine in India in over 40 years.

Sunday, February 19, 2017

Four dead after armed robbers storm DRC gold mine - Banro Corp

An armed attack on the Twanziga gold mine in eastern Democratic Republic of Congo (DRC) last week has resulted in four casualties. Among the dead are three policemen that were guarding the mine and one of the robbers, according to a statement on Banro Corp's (TSX:BAA) website.

The open-pit mine, which started commercial production in 2012, is one of four gold mines operated by Banro in the DRC. It was expected to produce 110-120,000 ounces in 2016. According to Reuters the mine has been "plagued by illegal miners squatting on the site and by armed groups, some of the dozens of militias that remain active despite the official end to a regional conflict in 2003."

The Democratic Republic of the Congo is the nineteenth most populous nation in the world, the fourth most populous nation in Africa. A number of Canadian Mining companies have assets in the country, including African Metals Corporation, Banro Corporation, DiamondCore, First Quantum Minerals, ICS Copper Systems Ltd., Lundin Mining Corp., Anvil Mining Ltd., and Katanga Mining Ltd.

Friday, February 17, 2017

Top Jewels at Auction in 2015

“The Blue Moon of Josephine,” 13.02 carats, internally flawless, it sold for $48,468,158 at Sotheby’s in November, 2015. The price set a world record for any diamond of any color, and for price per carat of any gemstone. The gem was cut from a 29.62-carat rough diamond unearthed at the Cullinan mine.

The “Sunrise Ruby” a 25.59-carat Burmese stone, sold for $30.3 million ($1.184 million per carat) in May, 2015. The price is a new record for any ruby, a new record per carat, and for any stone by Cartier.

16.08 carat Fancy Vivid Pink Diamond, “The Sweet Josephine” $28,523,925 at Christie’s in November.

Emerald-Cut Diamond, 100.20 Carats, D-flawless — one of only six 100-carat-plus “perfect” diamonds to hit the auction block in the past 25 years — fetched $22.1 million at Sotheby’s in April

“The Crimson Flame,” 15.04 carats Burmese ruby made $18m in December 2015, setting a world auction record for a ruby of $1.2 million per carat.

The 8.72-carat cushion brilliant-cut Fancy Vivid Pink ‘Historic Pink Diamond’, which is the recut pink stone once owned by reclusive heiress Huguette Clark. $15.9 million.

Fancy Purple-Pink Diamond Ring, 8.24 carats $13,866,553 at Sotheby’s in November 2015

Fancy Intense Pink diamond, 9.07 Carats, mounted by Harry Winston, a type IIa. $12,643,776 at Christie’s

Etcetera Ruby and Diamond Latticework Necklace, 120.74 Carats. $13,006,656 at Christie’s.

Rectangular-cut 5.18-carat Fancy Vivid Pink diamond ring $10,709,443 at Christie’s

Agnico-Eagle Mines Ltd - AEM.t

Agnico-Eagle Mines Ltd - AEM.t operates four mines in Canada, one mine in Finland and one mine in Mexico.

The Company reported 2015 gold production of 1,671,340 ounces at all-in sustaining costs of $810.

On December 19, 2016 the company released News

Agnico Eagle Mines Limited (NYSE: AEM, TSX: AEM) ("Agnico Eagle") announced today that it has agreed to purchase 22,500,000 common shares of Cartier Resources Inc. (TSX-V: ECR) ("Cartier") in a non-brokered private placement at a price of $0.20 per share for total consideration of $4,500,000.

On closing of the transaction, Agnico Eagle will own 22,500,000 common shares of Cartier, representing approximately 19.97% of the issued and outstanding common shares of Cartier on a non-diluted basis (after giving effect to the transaction, but otherwise assuming that the number of issued and outstanding common shares of Cartier as at the date hereof remains unchanged). Closing of the transaction is expected to occur on or about December 22, 2016 and is subject to certain conditions. - See more at: https://www.agnicoeagle.com/English/investor-relations/news-and-events/news-releases/news-release-details/2016/Agnico-Eagle-Announces-Investment-in-Cartier-Resources-Inc/default.aspx#sthash.pbtCyEWx.dpuf