Wednesday, June 21, 2017

Tanzanite - Low Production, High Operational Costs

Miners whose survival depends on the Tanzanite business from the Mirerani mining area in Simanjiro District in Tanzania have a reason to worry due to skyrocketing operational costs, coupled with dwindling production. The Tanzania Mineral Audit Agency, in its 2012 - 2015 reports show that Tanzanite mining profit margins were negative, including investment costs to maintain future production. With output quickly dwindling miners aren't even covering their costs.
Tanzanite is found in only one spot on the planet, the Manyara Region in Northern Tanzania near the city of Arusha and Mount Kilimanjaro. Found in 1967, the stone was initially cheap and was used as a substitute for more expensive sapphire. Over time, as the deposit was depleted, trade interest in Tanzanite grew. The stone is noted for its remarkably strong trichroism, appearing alternately sapphire blue, violet and burgundy depending on crystal orientation.

Today tanzanite is a very popular gemstone with an ever increasing price.

Sears Canada Inc - SCC.t

Sears Canada Inc - SCC.t is a retailer, headquartered in Toronto, Ontario.

It operates in all provinces and territories of Canada with a network of 146 corporate stores (Sears, Sears Home, Sears Outlet/Fashion Outlet), 144 Hometown Dealer stores, 84 Sears Travel offices and a nationwide home maintenance, repair, and installation network.

On June 21, 2017 the media reported News

Sears Canada Inc., the struggling offshoot of Sears Holdings Corp., is preparing to seek court protection from creditors in the coming weeks, according to people familiar with the matter. The court filing will likely lead to a liquidation, with the business sold off in pieces, said one of the people, who asked not to be identified because the deliberations are private. The company’s most valuable assets are real estate, but many of its locations are in lower-end shopping centers. That makes it difficult to sell them to a single buyer, the person said.

Tuesday, June 20, 2017

Richmont Mines Inc - RIC.t

Richmont Mines Inc - RIC.t currently produces gold from the Island Gold Mine in Ontario, and the Beaufor Mine in Quebec. The Company is advancing development of a significant high-grade resource extension at depth of the Island Gold Mine.

The company reported Q1 production of 32,369oz at non-AISC cash costs of $806

On May 29, 2017 the company released News

Richmont Mines Reports Strong Results from the Island Gold Mine Expansion Case Preliminary Economic Assessment

Richmont Mines Inc. is providing a status update on an expansion-case preliminary economic assessment currently under way for the Island gold mine located in Northern Ontario, Canada. The expansion-case PEA is expected to be released in the first half of 2017 in order to incorporate the 2016 year-end resource estimates and will consider a potential ore mining and mill processing rate increase to 1,100 tonnes per day beginning in 2018, with minimal capital investment being required.

Monday, June 19, 2017

Nighthawk Gold Corp. - NHK.t

Nighthawk Gold Corp. - NHK.t is focused on the Indin Lake Gold Property, a 222,203 acres or 900 square kilometres land package located 200 kilometres north of Yellowknife, Northwest Territories.

An inferred Mineral Resource estimate of 39.81 million tonnes with an average grade of 1.64 g/t Au for 2.101 million oz gold using a cut-off grade of 0.6 g/t gold is defined at its Colomac property.

On June 8, 2017 the company released NEWS

Nighthawk Gold drills 50.3 m of 2.58 g/t Au at Colomac

Nighthawk Gold Corp. has released initial drill results from eight holes (2,658 metres) on its Colomac gold project located within its Indin Lake gold property, Northwest Territories, Canada.

Sunday, June 18, 2017

De Beers launches new diamond ship

Mining giant De Beers has launched a state-of-art £122m exploration ship that will scan for diamonds on the seabed off the coast of Namibia. De Beers, majority owned by Anglo American, is the only miner in the world that produces diamonds from the seabed.
De Beers' cutting edge undersea mining technology, at a depth of up to 140m, is only carried out in Namibia, where it has a licence to operate until at least 2035. The 12,000-tonne vessel was built in Norway and fitted out in South Africa. It has a crew of 80.

The Nujoma is part of a joint venture between De Beers and the government of Namibia. It produced 1.2m carats in 2016.