Mining news – Sunday roundup

   Mining news – Sunday roundup

Last week was again a good week for several of the companies we follow, as the mining sector  continues to climb with many companies reaching all time highs.

Colonial Coal (CAD.V) rose another 10% on the back of strong buying after recent conference participation increased awareness of the company and their assets.

I have noticed a good number of oversubscribed placings in the Canadian junior space, a healthy sign of investor confidence.

Continue reading

Fosterville South share price soars on Victoria properties spin out

   Fosterville South Exploration  (TSX.V: FSX)

Announced that the Board of Directors of the Company has unanimously approved a spin out transaction whereby Fosterville South will distribute the shares of a new company named Leviathan Gold Ltd. to the shareholders of Fosterville South.

Leviathan Gold will undertake an equity financing to fund the exploration, advancement and development of the Avoca and Timor projects. Continue reading

03 Mining Closes C$40.2 Million “Bought Deal” of Flow-Through and Hard Units

   O3 Mining Inc. (TSX.V: OIII)

Announced that it has closed its previously-announced “bought deal” brokered private placement of  4,651,200 flow-through units of the Company at a price of C$4.30 per FT Unit, and 8,599,810 units of the Company at a price of C$2.35 per Unit.

The gross proceeds of the Offering are approximately C$40.2 million.  Continue reading

Zen Graphene Solutions provides graphene oxide for covid test research

   Zen Graphene Solutions {TSX.V: ZEN}

Reported that it will be providing Albany PureTM Graphene Oxide for development of a rapid, ultrasensitive and low cost bio-sensor to detect the presence of the SARS-CoV-2 antigen and/or antibodies in COVID-19 suspected patients.

This research is led by Prof. Maxim Berezovski, a full Professor at the University of Ottawa. Continue reading

Wesdome Gold looking to double production

   Wesdome Gold {TSX: WDO}

CEO Duncan Middlemiss, in a video interview with Kitco, has laid out his plans for the company to double production from 100,000 ounces of gold per annum to 200,000 per annum when the Kiena mine commences production.

Wesdome currently produces around 100,000 ounces of gold from its Eagle River Complex. To hear the interview  Continue reading

Radisson Mining arranges a $1.5M non-brokered private placement

   Radisson Mining Resources Inc.

Has arranged a non-brokered private placement to raise a minimum of $1.5-million.

This private placement will consist of a minimum of 5,000,000 common class A shares priced at CAD$0.20, and a minimum of 2,762,431 charity flow-through shares priced at CAD$0.362 per Quebec Charity FT Share, raising a minimum of $1,500,000. Continue reading

Minera Alamos drills 202.7 m of 0.51 g/t Au at Santana

   Minera Alamos {TSX.V: MAI}

Released additional drill results from its phase 2 drill program at the Santana gold project in Sonora, Mexico. Phase 2 was completed over the past year.

The successful results from the program, which are highlighted in the associated table, further expand mineralisation to the southwest and confirm the depth potential previously identified in hole S20-134. Continue reading