Saturday, August 19, 2017

Victoria Gold (VIT.v) starts construction on Yukon Mine

A Whitehorse based contractor is moving heavy equipment into Victoria Gold Corporation's Eagle Gold project to begin construction of an open pit mine. Pelly Construction is doing the primary construction.

Victora Gold had hoped to be at this point several years ago, but saw its plans delayed in 2013 when a slump in the mining industry dried up investment. BNP Paribas executed a commitment letter for the debt financing transaction. BNPP has agreed to underwrite 100 per cent of a $220-million (U.S.) senior secured project finance facility.
Victoria Gold Corp - VIT.v is advancing the flagship Eagle Gold Deposit on the Dublin Gulch Property in the Yukon.

The Eagle Gold Project has a resource of 4.8 million gold ounces indicated and 1.5 million gold ounces inferred. A PEA suggests +200,000 ounces of gold annually at an operation cost of approximately $600 per ounce.

On April 4, 2017 the company released NEWS

Victoria Gold Corp. (TSX.V-VIT) is pleased to announce that the 2017 Dublin Gulch exploration campaign, including diamond drilling, has commenced.

Three diamond drills and a suite of heavy equipment to support exploration initiatives are at site with drilling activities now underway. Drilling production is slated to ramp up over the next three weeks as drill sites are prepared.

Friday, August 18, 2017

Argentina confirms charges for Barrick employees over 2015 cyanide spill at Veladero

An Argentine court has confirmed criminal charges against eight of nine Barrick Gold employees related to their involvement in a cyanide spill at the company’s Veladero mine in 2015. The ruling follows a 145.7m pesos fine (about $9.8 million) Barrick had to pay in January 2016 over the incident. At the time, the company said it had strengthened controls and safeguards at the mine. A few months later however falling ice damaged a pipe carrying process solution, causing a second leak. There was yet another leak of cyanide solution in March of this year.

Veladero produced 544,000 ounces last year and has P&P reserves estimated at 6.7 million ounces of gold.




Canadian Pacific Railway Limited - CP.t

Canadian Pacific Railway Limited - CP.t was founded in 1881 to physically unite Canada and Canadians from coast to coast.

Canadian Pacific spun out its five subsidiaries into separate companies in late 2001. CPR's 14,000-mile network extends from the Port of Vancouver to The Port of Montreal, and to the U.S. industrial centers of Chicago, Newark, Philadelphia, Washington, New York City and Buffalo.

On July 19, 2017 the company released numbers

​Canadian Pacific Railway Limited (TSX: CP) (NYSE: CP) today announced record second-quarter earnings driven by strong top-line growth and continued margin improvements produced by its industry-leading operating model and its 12,000 talented railroaders.

Revenues climbed 13 percent to $1.64 billion, while net income rose 46 percent to $480 million, or $3.27 per diluted share, the highest ever for the period. Adjusted earnings per share rose 35 percent to $2.77 per diluted share.

Thursday, August 17, 2017

Uganda: Gold Mining in Mubende

The remote hilly areas of Mubende District, about 172 kilometres west of Kampala, Uganda are rich in gold. Nkwatirire migrated to the area about 45 years ago. Then, he said, there were only seven families sleeping in huts. In 2012 gold was found. "People started coming here purposely to mine gold. Children, girls, boys, women and men of all ages are here". Congested settlements built haphazardly characterize the region.
15-year-old Agaba fled his home and became one of the 15,000 children working in artisanal gold mining. He is one of the oldest children working at this mine – some are as young as eight. He spends up to 11 hours a day bending over makeshift gold pans, sluicing gold ore while standing ankle-deep in ponds of mercury and water.
He says on a good day he makes 10,000 shillings, about $2.50.
The rocky hills have been excavated by miners who have dug hundreds of underground tunnels in search of gold. Work in the mines goes on non-stop. Mining has degraded the environment in the area. The illegal miners have contaminated water sources with mercury and cyanide. Artisanal and small scale mining operations produces over 90% of the national mineral output and keeps about 200,000 Ugandans are employed.

New Flyer Industries Inc. - NFI.t

New Flyer Industries Inc. - NFI.t is the leading manufacturer of heavy-duty buses in the U.S. and Canada.

New Flyer has grown to an international organization of over 2,200 highly-skilled people dedicated to planning, producing and servicing the industry’s most reliable heavy-duty transit vehicles.

On August 15, 2017 the company released News

New Flyer Industries Canada ULC (“New Flyer”), the Canadian subsidiary of New Flyer Industries Inc. (the “Company”), the largest transit bus and motor coach manufacturer and parts distributor in North America, today announced that the City of Edmonton has awarded New Flyer with a contract for 110 Xcelsior® clean diesel, forty-foot heavy-duty transit buses, as well as options to purchase an additional 120 buses. This new award will add a total of 230 equivalent units to New Flyer’s firm and option backlog.