Scorpio Gold {TSX.V: SGN} the Nevada based gold production and development company has announced a change of auditor, “at the request of the company”.

No reason is given for this.

Comment

This looks a very strange decision by the company, to request that the eiting auditors resign!

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It does look strange, even if there is a totally genuine reason for this, they really ought to state why in my opinion. It could be a simple as cost saving of course, but it would be comforting to know for sure.

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The new auditors are not so well known, and I think this unnecessarily casts a cloud over the company when a simple explanation from the company for the reasoning behind the decision would have dissipated any concerns.

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Scorpio Gold announce that Delloitte has resigned as their auditor.

News – Thursday, September 14, 2017
Scorpio Gold Announces Change of Auditors

Vancouver, September 14, 2017 – Scorpio Gold Corporation {TSX.V: SGN} announces that it has changed its auditors from Deloitte, LLP (the “Former Auditors”) to Davidson & Company, LLP (the “Successor Auditors”) effective August 30, 2017.

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At the request of the Company, the Former Auditors resigned as auditors of the Company effective August 30, 2017 and the board of directors of the Company appointed the Successor Auditor as the Company’s auditor effective August 30, 2017, until the next Annual General Meeting of the Company.

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There were no reservations in the Former Auditor’s reports in connection with the most recently completed fiscal year (2016) or for any period subsequent to the most recently completed period for which an audit report was issued preceding the date of the Former Auditor’s resignation. There are no “reportable events” (as that term is defined in National Instrument 51-102 Continuous Disclosure Obligations) between the Company and the Former Auditor.

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In accordance with National Instrument 51-102, the notice of change of auditor, together with the required letters from the former auditor and the successor auditor, have been reviewed by the audit committee and the board of directors and has been filed on SEDAR.
 

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Colonial Coal {TSX.V: CAD} elected a new board of directors at their AGM on Wednesday 13th September, held in Vancouver, B.C.

All resolutions were carried.

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Colonial Coal shareholders vote in new board at AGM

2017-09-13 14:09 ET – News Release

Mr. David Austin reports

COLONIAL COAL INTERNATIONAL CORP.: RESULTS OF AGM AND APPOINTMENTS

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Colonial Coal International Corp. has released the results of the company’s annual general meeting (AGM) held on Sept. 13, 2017, in Vancouver.

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The company is pleased to report that, at its AGM, the shareholders voted to elect David Austin, Ian Downie, Anthony Hammond, John Perry, Wayne Waters and Gregory Waller as directors of the company for the ensuing year.

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In addition, at the AGM the shareholders also approved the reappointment of PricewaterhouseCoopers LLP, chartered accountants, as the company’s auditor, and authorized the directors to fix the auditor’s remuneration, together with the continuation of the company’s current share option plan. For more information on these matters please refer to the company’s AGM management proxy circular which is available on SEDAR.

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Following the AGM the board of directors met and confirmed the appointment of the following company executive officers: David Austin, president and chief executive officer; John Perry, chief operating officer; and Matt Anderson, chief financial officer and secretary; and the reappointment of the following members to the company’s current audit committee: Ian Downie (chairman), David Austin and Wayne Waters.

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The board would like to thank the shareholders for their continuing support.

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About Colonial Coal International Corp.

Colonial Coal is a coal corporation in British Columbia that focuses primarily on coking coal projects. The northeast coal block of British Columbia, within which the corporation’s projects are located, hosts a number of proven deposits and has been the subject of merger and acquisition activities by Xstrata, Walter Energy, Anglo-American and others.

We seek Safe Harbor.

Neometals Ltd  (ASX: NMT)   advised  that its wholly owned  subsidiary  Alphamet  Management  Pty  Ltd , has  entered  into  the  first  sub‐licence agreement for the application of the Neomet Process technology.

The location is in a steel mill in the Republic of Serbia.

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Neometals Ltd  (ASX: NMT)   is pleased  to advise  that its wholly
owned  subsidiary  Alphamet  Management  Pty  Ltd  has  entered  into  the  first  sub‐
licence agreement for the application of the Neomet Process technology.

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Subject to satisfactory pilot testing, the agreement will see the Neomet Process technology used at a steel mill in the Republic of Serbia to recover zinc, copper, iron, silver and lead from a new modular EAF Dust Processing plant.

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Neometals  has  a  Strategic  Alliance  with  Australian  Engineers,  Sedgman  Limited,  to  provide  the  commercialisation of the technology at no cost to Neometals.

To read the full article, please click HERE

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Raddison Mining Resources {TSX.V: RDS} has intercepted 12.9 gpt gold, 70 meters updip of the widest intersect on the 36E zone.

Specs of visible gold were evident in two drill cores.

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Radisson Intersects 12.9 g/t Gold over 8 metres, 70 metres up-dip of widest intercept reported on 36E zone  Radisson Intersects 12.9 g/t Gold over 8 metres, 70 metres up-dip of widest intercept reported on 36E zone.

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Rouyn-Noranda, Quebec  – Radisson Mining Resources Inc. {TSX-V: RDS}  is pleased to announce additional results from the ongoing 20,000 m drill program at the Company’s O’Brien gold project located along the Larder-Lake-Cadillac (“L-L-C”) fault halfway between Rouyn-Noranda and Val-d’Or, Quebec.

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Hole OB-17-25W intersected 12.9 g/t Au over 8 metres within a wider interval of 54 metres grading 2.8 g/t Au. This wedge hole aimed the vertical continuity of hole OB-17-25 70 metres closer to surface, which as highlighted in May 9th, 2017 Press Release, returned 1.0 g/t Au over 93 metres.

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Radisson continues to confirm the presence of high-grade gold intercepts within wider lower grade mineralised envelopes on the 36E zone of the O’Brien deposit. Since the last update, results have been received for eight resource expansion drill holes. The company is currently drilling hole OB-17-60. Assays are pending for 21 drill holes. 10 exploration drill holes and 11 resource expansion drill holes. 

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Mario Bouchard, President and CEO commented: “Current results continue to demonstrate the potential to expand known resources at the 36E and Kewagama zone. The fact that we continue to encounter high-grade gold mineralisation in wider lower-grade envelopes at several depths could represent a game-changer for 36E. The newly named Vintage zone was first explored in the 80s and never followed upon. Via historical data compilation, the company established a number of high-priority exploration targets in this area of the O’Brien project. We aim to complete the 20,000 metres drill program in the coming weeks by focusing on resource expansion targets, while the company awaits results from its exploration drilling program completed this summer.” 

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Newly named Vintage zone exploration program

The Vintage zone is a parallel zone of the O’Brien project approximately located 85 metres north of the Larder-Lake-Cadillac fault in the Cadillac Group of meta-sediments comprising sequence of polymictic conglomerate, banded iron formation (BIF) and grauwacke. In comparison, current resources of 36E and Kewagama zones are located in the Piche Group, south of the L-L-C fault. Vintage zone saw small exploration work in the 80s, which were never followed upon. The company established several high-priority exploration drill targets through historical data compilation in this area.

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The first two drill holes that tested these targets were completed 65m along strike from each other. Specs of visible gold associated with multiple narrow quartz-sulfides (mostly arsenopyrite) veins were intersected in both holes. The new info added to the few available historical information helps to demonstrate the continuity and the favourable geometry of the Vintage zone. All intercepts remain open laterally and at depth. Results are currently pending and will be made available in the coming weeks.  Historical drill core re-logging and assaying In light of the wide zones of mineralisation recently intersected on 36E area, the company will review drill cores from a series of historical drill holes in the near-surface area of the 36E zone. After re-log, selected drill core will be sent for assaying. Prior to 2016, most of these holes have incomplete assay within the Piche group sequence.

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Only highly mineralised zones were assayed without paying attention to a possible wider low-grade envelope model.

Nouveau Monde Graphite {TSX.V: NOU}  has signed a non-binding letter of intent (or LOI) with Hunan Zhongke Shinzoom Co. Ltd., a Chinese lithium-ion battery anode producer and developer.

The purpose of the proposed collaboration is to actively participate in the growing North American lihtium-ion battery anode material market.

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NOUVEAU MONDE SIGNS A LOI WITH SHINZOOM TO MARKET LITHIUM-ION BATTERY ANODE MATERIAL IN NORTH AMERICA

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Nouveau Monde Graphite Inc.{TSX.V: NOU}  has signed a non-binding letter of intent (or LOI) with Hunan Zhongke Shinzoom Co. Ltd., a Chinese lithium-ion battery anode producer and developer. The purpose of the proposed collaboration is to actively participate in the growing North American lihtium-ion battery anode material market.

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To attain this goal the parties seek to form a new corporation (distribution joint venture) which will be owned 51 per cent by Shinzoom and 49 per cent by Nouveau Monde. Distribution JV will exclusively market Shinzoom’s anode materials to lithium battery manufacturers in North America.

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Subject to Shinzoom’s investment policy and criteria, if the distribution JV brings successful marketing and distribution results satisfactory to both Shinzoom and Nouveau Monde in the first 18 months of distribution JV, the parties will evaluate the feasibility of manufacturing Shinzoom’s anode material products (natural graphite, artificial graphite and composite graphite) in the province of Quebec. Subject to conditions stated hereto, the processing of anode material products in the province of Quebec would be developed through a new corporation (processing JV) which would be owned 51 per cent by Nouveau Monde and 49 per cent by Shinzoom.

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The non-binding LOI is conditional to various conditions which are amongst them, a mutual satisfactory due diligence and the execution of the definitive agreements such as distribution agreement and shareholder agreement no later than Oct. 1, 2017. Completion of the transaction is subject to a number of conditions. There can be no assurance that the transaction will be completed as proposed or at all.

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Eric Desaulniers, president and chief executive officer of Nouveau Monde, stated: “Shinzoom is a well-respected and established anode material producer in Asia. The collaboration between Shinzoom and Nouveau Monde, if realised by the execution of the definitive agreements, would provide North American battery makers with much needed high-quality and competitively priced anode materials. This strategy would allow Nouveau Monde to become more vertically integrated and initiate a dialogue with customers.”

Mr. Desaulniers continued: “Our graphite project is not covered in the non-binding LOI, but anodes require graphite and in the event of potential manufacturing of Shinzoom’s anode material products in Quebec it would obviously be beneficial for Nouveau Monde’s graphite products. The signing of this non-binding LOI paves a way for Nouveau Monde to actively engage customers today as well as develop its Matawinie graphite project, with a goal of maximizing downstream graphite market exposure.”

“The North American market has tremendous growth potential for Shinzoom and we are ready to penetrate this market with our leading-edge anode material products,” commented Tao Pi, general manager of Shinzoom. “We have already started building relationship with customers in North America. We believe that Nouveau Monde has good connections with major North American battery manufacturers and we sincerely hope that our collaboration with Nouveau Monde will immediately increase our sales in North America.”

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About Nouveau Monde Graphite Inc.

With a management team that has over 40 years of recent experience in the production, processing and marketing of natural graphite, Nouveau Monde Graphite (NMG) is a dynamic company positioned as a future leader in the emerging North American graphite and anode material for lithium-ion battery markets. NMG is evaluating its Matawinie graphite project discovered in 2015 with the objective of becoming the largest graphite mine in North America. The company published a preliminary economic assessment, completed according to National Instrument 43-101 guidelines, in June of 2016 (see press release dated June 22, 2016). The project is located in the Saint-Michel-des-Saints area, about 120 kilometres north of Montreal, Que., Canada.

This press release was prepared by Eric Desaulniers, MSc, PGeo, president and chief executive officer of Nouveau Monde, qualified person under National Instrument 43-101 guidelines.

Completion of the transaction is subject to a number of conditions, including but not limited to, TSX Venture Exchange acceptance. There can be no assurance that the transaction will be completed as proposed or at all.

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City Investors Circle has a new investor presentation lined up for the 27th September. The presenting company has a very exciting silver and gold project in Mexico.

If you want to receive our monthly newsletter and invitations to this and future free to attend events, please email andrew@city-investors-circle.com

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New investor presentation planed for Wednesday 27th September 2017

City Investors Circle has a new investor presentation lined up for the 27th September. The presenting company has a very exciting silver and gold project in Mexico.

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We present mainly Australian and Canadian listed junior mining companies in the early stages of exploration, where there is the potential for shareholder value to be created.

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Our meetings are always in the City of London, are free to attend, and offer complimentary food and refreshments.

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Only members of the Circle are invited to attend, which keeps the meetings and networking focused.

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These are wonderful events, where the attendees are city professionals and private investors, in a sociable atmosphere where people are happy to exchange investment ideas and the odd share tip.

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After the event, we follow the presenting company’s news on our website and in our monthly newsletter, to allow investors to maintain an interest in the company, and not miss out on crucial news.

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If you would like to receive our free monthly newsletter, and invitations to our free to attend events in the future we will be delighted to add you to our investor list, please email andrew@city-investors-circle.com

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Colonial Coal {TSX.V: CAD} the British Columbian based metallurgical (coking) coal exploration and development company has seen increased interest in the shares due to the recent strong rise in the price of coking coal.

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Colonial Coal {TSX.V: CAD} the British Columbian based metallurgical (coking) coal exploration and development company has seen increased interest in the shares due to the recent strong rise in the price of coking coal.

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The price of coking coal fell as low as US$90 (Canadian $120 at the time) at the depths of the market, but has now rebounded strongly to around US$210, which equates to CAD $256 at today’s exchange rates.

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Colonial are based in the Peace River Basin, and FOB costs are CAD $140, so at current prices there is a huge margin, and investors seem to be catching on as recent volume has been healthy, despite the normal summer doldrums.

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Tinka Resources {TSX.V: TK} have been nominated for the Explorer of the year ward 2017 by the Mining Journal.

Tinka are an exploration and development company focused on Zinc, and based in Peru.

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Tinka drilling at Ayawilca in 2017

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Tinka Resources {TSX.V: TK} have been nominated for the Explorer of the year ward 2017 by the Mining Journal.

Tinka are an exploration and development company focused on Zinc, and based in Peru.

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To read the full article, please click HERE

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Barkerville Gold Mines Ltd. {TSX.V: BGM}.  announced that additional drilling results from the ongoing 130,000 metre Phase II Island Mountain exploration and infill drilling program at the Company’s flagship Cariboo Gold Project have confirmed short range continuity of the vein systems and expanded a veining corridor at depth in the Shaft Zone.

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BGM DISCOVERS 53.26 G/T AU OVER 11.55 METRES AT SHAFT ZONE

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September 6th, 2017 – Barkerville Gold Mines Ltd. {TSX.V: BGM}.  is pleased to announce that additional drilling results from the ongoing 130,000 metre Phase II Island Mountain exploration and infill drilling program at the Company’s flagship Cariboo Gold Project have confirmed short range continuity of the vein systems and expanded a veining corridor at depth in the Shaft Zone.

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The Company is currently exploring and delineating the Valley and Shaft Zones with nine drill rigs, while drill ten is expanding the known mineralization on the BC Vein. Detailed drilling results, a drill hole location plan map and vertical section are presented at the end of this release.

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Phase II Infill Drilling Intersects Additional Mineralisation

A previously unidentified corridor of high tenor veining has been discovered in Phase II drillhole
IM-17-131 which intersected 53.26 g/t Au over 11.55 metres in the Shaft Zone at a vertical depth of 400 metres below surface. This infill drilling discovery is situated 12 metres below drillhole IM-17-138. Further downhole, IM-17-131 also intersected 12.85 g/t Au over 20.00 metres which correlates spatially very well with IM-17-138 having intersected 6.67 g/t Au over 17.10 metres. These new intersections are situated proximal to previously reported drillholes IM-17-124, 18.84 g/t Au over 30.85 metres and IM-17-078, 11.42 g/t Au over 28.55 metres. Additional new mineralization was also discovered by IM-17-138 grading 9.18 g/t Au over 7.40 metres at a vertical depth of 600 metres below surface. These wide corridors of sandstone hosted veining are open for expansion in all directions.

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Qualified Persons

Exploration activities at the Cariboo Gold Project are administered on site by the Company’s Exploration Manager, Maggie Layman, P.Geo. As per National Instrument 43-101 Standards of Disclosure for Mineral Projects, Paul Geddes, P.Geo. Vice President Exploration, is the Qualified Person for the Company and has prepared, validated and approved the technical and scientific content of this news release. The Company strictly adheres to CIM Best Practices Guidelines in conducting, documenting, and reporting its exploration activities on the Cariboo Gold Project.

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Quality Assurance – Quality Control

Once received from the drill and processed, all drill core samples are sawn in half, labelled and bagged. The remaining drill core is subsequently stored on site at the Company’s secure facility in Wells, BC. Numbered security tags are applied to lab shipments for chain of custody requirements. The Company inserts quality control (QC) samples at regular intervals in the sample stream, including blanks and reference materials with all sample shipments to monitor laboratory performance. The QAQC program was designed and approved by Lynda Bloom, P.Geo. of Analytical Solutions Ltd., and is overseen by the Company’s Qualified Person, Paul Geddes, P.Geo, Vice President Exploration.

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Drill core samples are submitted to ALS Geochemistry’s analytical facility in North Vancouver, British Columbia for preparation and analysis. The ALS facility is accredited to the ISO/IEC 17025 standard for gold assays and all analytical methods include quality control materials at set frequencies with established data acceptance criteria. The entire sample is crushed and 250 grams is pulverised. Analysis for gold is by 50g fire assay fusion with atomic absorption (AAS) finish with a lower limit of 0.01 ppm and upper limit of 100 ppm. Samples with gold assays greater than 100 ppm are re-analysed using a 1,000g screen metallic fire assay. A selected number of samples are also analysed using a 48 multi-elemental geochemical package by a 4-acid digestion, followed by Inductively Coupled Plasma Atomic Emission Spectroscopy (ICP-AES) and Inductively Coupled Plasma Mass Spectroscopy (ICP-MS).

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For further information on Barkerville Gold Mines Ltd. please contact:
Chris Lodder
President & Chief Executive Officer.

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Neometals {ASX: NMT} has confirmed they have now purchased 21.5 million shares in their buyback program, approved by the ASX.

This leaves 6.6 miillion  shares remaining to be purchased under the scheme.

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Neometals {ASX: NMT} has confirmed they have now purchased 21.5 million shares in their buyback program, approved by the ASX.

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This leaves 6.6 million  shares remaining that can be purchased under the scheme.

Comment

I am all in favour of share buybacks, as I prefer capital growth to dividends, but with 450 million shares still outstanding, the effectiveness of this program has to be questioned.

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Neometals have so many projects ongoing I think they should now focus on financing those projects, and generating cash, rather than buying back any more shares.

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The company are cash rich, which is a nice position to be in of course, but there have to be opportunities for that cash, and that is where I think greater shareholder value can be created.

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Once the lithium hydroxide and battery recycling projects are developed, that may be an opportune time to commence a buyback program on the strength of the increased cash being generated, in my opinion.

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NMT are looking to receive AUS $20 million next year as their share of the MT. Marion revenue (NMT 13.6%) which makes the current valuation of sub AUS $150 million market cap look quite undervalued, on the normal metrics for a producing lithium miner.

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It’s hard to perceive the price of lithium falling as demand is currently surging!

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Condor Gold {AIM: CNR} recently announced a meeting with the protest group campaigning against their La India project in Leon, Nicaragua.

According to a recently published press article, no agreement has been reached following the meeting. Surprisingly, Condor have yet to comment on these protests.

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Condor Gold and protesters meet, but nothing agreed after the meeting according to a local press article.

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Condor Gold {AIM: CNR} recently announced a meeting with the protest group campaigning against their La India project in Leon, Nicaragua.

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According to a recently published press article, no agreement has been reached following the meeting.

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Condor Gold have yet to comment on this, which is incredible as surely this is price sensitive news and should be reported under AIM regulations?

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Reviewing Condor’s RNS news releases for the past two years, I cannot trace any mention of the protests that are still ongoing at La India, which begs the question, why haven’t they been reported?

La Prensa of Nicaragua article published 26th August 2017. (In Spanish), to read please click HERE

To view a recent YouTube video of the protests, please click HERE (In Spanish)

The latest YouTube of the protests filmed in August 2017, (note the police presence!), Click HERE

There is ample press comment about these protests, in Nicaragua, yet because they are in written in Spanish they do not yet seem to have been picked up by the UK media. If this is picked up you have to wonder how the company would respond to questions about why they have not reported protests against the mine that began at least in 2016?

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Condor Gold {AIM: CNR} announced new drill results from drilling on the Mestiza Vein Set (‘Mestiza’) at the La India Project, Nicaragua..

A drill programme of 5,922 m has now been completed.

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Condor Gold Announces Drill Results From La India: Including 3.6 m @ 13.7 g/t Gold and 7 m @ 2.90 g/t Gold

LONDON, Aug 30, 2017 – Condor Gold {AIM: CNR} is pleased to announce new drill results from drilling on the Mestiza Vein Set (‘Mestiza’) at the La India Project, Nicaragua.

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A drill programme of 5,922 m has now been completed. The initial focus was on the Tatiana Vein, one of the four constituent veins; later drilling tested the nearby Buenos Aires and Jicaro veins. The objective is to convert an historic Soviet mineral resource (2,392 kt at 10.2 g/t gold for 785,694 oz gold) to Canadian NI 43-101 standard.

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Highlights:

5,922 m completed, with drilling restricted to the top 200 m (below ground surface).
A high-grade ore shoot on the Tatiana vein is defined over a strike length of 450 m. It has mineralised true widths up to 4.6 m (averaging 2.2 m over the main mineralised section), in addition to a hanging wall vein up to 6.1 m true width (averaging 1 m)
Best results received from the most recent 2,848 m include:
o LIDC365 drill width 3.60 m (true width 3.12 m) at 13.7 g/t gold and 13.9 g/t silver from 142.6 m downhole depth.
o LIDC363 drill width 7.00 m (true width 6.10 m) at 2.90 g/t gold from 145.5 m.
Best results received from the 5,922 m
o LIDC 344 drill width 3.30 m (true width 2.20 m) at 28.3 g/t gold and 38.9 g/t silver from 76.70 m.
o LIDC 358 drill width 3.55 m (true width 2.30 m) at 23.3 g/t gold and 66.6 g/t silver from 160.50 m.
Prospect mapping has shown that the Mestiza vein system has a strike length of over 3.5 km. Historic sampling includes 41.5 g/t Au and 47.7 g/t Au up to 2 km north of the recent drilling

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Mark Child, Chairman and CEO comments:

‘The drill programme of approximately 6,000 m on Mestiza has been completed and drill rigs stood down. The highlight of results so far is a high-grade ore shoot in the Tatiana vein. This has a strike length of 450 m and an estimated average true width of 2.2 m. The shoot can be extrapolated approximately 200 m below surface; LIDC 344, which has a drill width 3.30 m at 28.3 g/t gold, is 60 m vertically beneath surface. LIDC 358, drill width of 3.55 m at 23.3 g/t gold, is approximately 100 m vertically below LIDC 344.

New mapping has identified a larger vein system than previously thought. The Mestiza vein set is about 3.5 km long and about 1 km wide. Surface samples of 41.5 g/t and 47.7 g/t gold are 2 km north of the recent drilling. Mapping will continue and is aimed at identifying further high grade shoots by targeting dilational bends in the veins.

Mestiza is excluded from the current mine plans in the PFS and PEA. A successful resource conversion of the Soviet-style resource has the potential to add large, high grade, and relatively shallow resources to a future mine plan, thereby increasing the annual gold production, life of mine, and project economics.’

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Background

La India Project’s existing NI 43-101-compliant mineral resource is 18 Mt at 4.0 g/t Au (2.31 Moz gold). This consists of seven separate resources, most of them open along strike and at depth. It includes Mestiza, which hosts a NI 43-101-compliant Inferred mineral resource of 1,490 kt at 7.47 g/t (333,000 oz gold). Here, Soviet-backed drilling in 1991 estimated a Soviet-style mineral resource of 2,392 kt at 10.2 g/t gold (785,694 oz gold) (See RNS dated 22nd May 2017). The bulk of the resources are contained within the Tatiana vein, the largest of the four main veins at Mestiza, which also includes the Buenos Aires and Jicaro veins to the north of, and Espinito vein set to the west of Tatiana.

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Current Drill Plan

Condor commenced drilling with one drill rig on the 23rd March 2017, to test the Soviet drilling and convert the Soviet mineral resource to Canadian NI 43-101 standard (See RNS dated 31st March 2017). The first batch of assays was reported on the 22nd May 2017. A second rig was introduced and the second batch of assays was reported on the 29th June 2017.

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This initial programme is now concluded, with the completion of 43 drill holes for 5,922 m in total. Table 1 lists the best intercepts above 20 g*m (grade x thickness) gold (Au). Results for LIDC361 to 377 are presented in Table 2. Assays.

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Bitcoin $BTC breached the $5,000 level (not including $560 for Bitcoin Cash!) before retracing $500 as the crypto currencies wobbled again, albeit form new highs in some cases.

Ethereum $ETH fell 12%, which was an average for most of the major crypto currencies, and some fell even more.

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Bitcoin $BTC breached the $5,000 level (not including $560 for Bitcoin Cash!) before retracing $500 as the crypto currencies wobbled again, albeit form new highs in some cases.

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Ethereum $ETH fell 12%, which was an average for most of the major crypto currencies, and some fell even more.

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The crypto’s rose strongly after the North Korean missile launch over Japan (as did gold), but as there has not been an immediate American military response, they are now retracing.

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It remains to be seen how much of the recent gains are given up before the market stabilises again.

Scorpio Gold Corp. {TSX.V: SGN} announced its financial results for the second quarter ended June 30, 2017 (“Q2”).

The results are disappointing as they are a 50% reduction in revenue compared to the same period last year.

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Scorpio Gold Reports Financial Results for Second Quarter of 2017

Vancouver, August 29, 2017 – Scorpio Gold Corp. {TSX.V: SGN} announce its financial results for the second quarter ended June 30, 2017 (“Q2”).

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This press release should be read in conjunction with the Company’s condensed interim consolidated financial statements for Q2 and Management Discussion & Analysis for the same period, available on the Company’s website at www.scorpiogold.com and under the Company’s name on SEDAR at www.sedar.com.

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All monetary amounts are expressed in US dollars unless otherwise specified.

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PERFORMANCE HIGHLIGHTS:Q2 2017 Q2 2016 H1 2017 H1 2016  $ $ $ $Revenue (000’s) 6,299 12,434 16,174 21,862Mine operating earnings (000’s) 1,142 3,067 3,520 4,932Net (loss) earnings (000’s) (285) 1,199 (245) 2,278Basic and diluted (loss) earnings per share (0.00) 0.01(2) (0.00) 0.01Adjusted net earnings(1) (000’s) 464 2,183 1,925 3,299Adjusted basic and diluted net earnings per share(1) 0.00 0.01 0.01 0.02Adjusted EBIDTA(1) (000’s) 957 2,816 3,032 4,385Adjusted basic and diluted EBIDTA per share(1) 0.00 0.02 0.02 0.02Cash flow (used in) from operating activities (000’s) (885) 4,878 2,574 4,512Total cash cost per ounce of gold sold(1) 968 879 911 844Gold ounces sold 5,025 10,015 13,127 18,315Gold ounces produced 4,660 10,089 10,401 18,597

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Brian Lock, Interim CEO, comments, “The lower amount of gold ounces produced in Q2 2017 compared to Q2 of 2016 is attributed to fewer tons being mined and processed from the existing pits, due to smaller benches being mined in lower pit elevations. This situation affected the number of gold ounces sold and revenues for Q2 of 2017. The net loss of $0.3million reported for Q2 of 2017 includes a $0.7 million non-cash impairment charge recorded in that quarter. 

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“The net loss of $0.2 million reported for H1 of 2017 includes a $2.3 million non-cash impairment charge recorded during the period. 
“The Company’s annual production forecast for 2017 is now currently expected to be at the low end of the previous production guidance provided of 20,000 to 25,000 ounces of gold.

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“Based on the Company’s updated mine plan, the Company currently anticipates mining of gold at Mineral Ridge through October 2017, after which there will be residual but diminishing gold recoveries from the leach pads. One of the initiatives undertaken by the Company to address the going concern issue is the engagement of three firms to complete a NI 43-101 compliant Bankable Feasibility Study, (“BFS”) based on an internal economic assessment and the Mine Technical Services resource confirmation. The BFS, when complete will provide the mill facility design and related economics for processing the leach pad material. It is anticipated that the BFS will also provide the basis for the Company to raise the capital required for the project. It is estimated that the BFS will be complete by mid September 2017. This is a positive step towards unlocking the value of the Mineral Ridge property.”

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HIGHLIGHTS FOR THE SECOND QUARTER (“Q2”) ENDED JUNE 30, 2017 AND SUBSEQUENT EVENTS

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4,660 ounces of gold were produced at the Mineral Ridge mine during Q2 of 2017, compared to 10,089 ounces during Q2 of 2016.

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Revenue of $6.3 million, compared to $12.4 million during Q2 of 2016.

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Total cash cost per ounce of gold sold(1) of $968 compared to $879 during Q2 of 2016.

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Mine operating earnings of $1.1 million compared to $3.1 million during Q2 of 2016.

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Net loss of $0.3 million ($0.00 basic and diluted per share), compared to net earnings of $1.2 million ($0.01(2) basic and diluted per share) during Q2 of 2016.

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Adjusted net earnings(1) of $0.5 million ($0.00 basic and diluted per share) compared to $2.2 million ($0.01 basic and diluted per share) for Q2 of 2016.

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Adjusted EBITDA(1) of $1.0 million ($0.00 basic and diluted per share) compared to $2.8 million ($0.02 basic and diluted per share) during Q2 of 2016.

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On July 12, the Company reported a measured and indicated mineral resource estimation of 121,700 ounces of gold contained on the heap leach pads at the Mineral Ridge Mine.August, the Company announced the initiation of a bankable feasibility study with the objective to support the proposed financing and construction of a mill facility at Mineral Ridge to process the heap leach material and potentially mineralised material mined in the future.

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HIGHLIGHTS FOR THE SIX MONTHS ENDED JUNE 30, 2017

10,401 ounces of gold were produced at the Mineral Ridge mine, compared to 18,597 ounces produced during the six months ended June 30, 2016.

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Revenue of $16.2 million, compared to $21.9 million during the six months ended June 30, 2016.

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Total cash cost per ounce of gold sold(1) of $911, compared to $844 during the six months ended June 30, 2016.

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Mine operating earnings of $3.5 million, compared to $4.9 million during the six months ended June 30, 2016.

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Net loss of $0.2 million ($0.00 basic and diluted per share), compared to net earnings of $2.3 million ($0.01 basic and diluted per share) during the six months ended June 30, 2016.

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Adjusted net earnings(1) of $1.9 million ($0.01 basic and diluted per share), compared to $3.3 million ($0.02 basic and diluted per share) during the six months ended June 30, 2016.

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Adjusted EBITDA(1) of $3.0 million ($0.02 basic and diluted per share), compared to $4.4 million ($0.02 basic and diluted per share) million during the six months ended June 30, 2016.

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(1)This is a non-IFRS measure; refer to Non-IFRS Measures section of this press release and the Company’s Management Discussion & Analysis for Q2 of 2016 for a complete definition and reconciliation to the IFRS results reported in the Company’s financial statements for Q2 of 2016.(2) Please see Equity section of the MD&A.
Non-IFRS Measures.

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The discussion of financial results in this press release includes reference to Adjusted EBITDA, Total cash cost per ounce of gold sold and Adjusted Net Earnings, which are non-IFRS measures. The Company provides these measures as additional information regarding the Company’s financial results and performance. Please refer to the Company’s MD&A for the six months ended June 30, 2017 for definitions of these terms and a reconciliation of these measures to reported International Financial Reporting Standards (“IFRS”) results.

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About Scorpio Gold
Scorpio Gold holds a 70% interest in the Mineral Ridge gold mining operation located in Esmeralda County, Nevada with joint venture partner Elevon, LLC (30%). Mineral Ridge is currently in production as a conventional open pit mining and heap leach operation.

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The Mineral Ridge property is host to multiple gold-bearing structures, veins and lenses at exploration, development and production stages. Scorpio Gold also holds a 100% interest in the advanced exploration-stage Goldwedge property in Manhattan, Nevada, with a fully permitted underground mine and 400 ton per day mill facility. The Goldwedge mill facility has been placed on a care and maintenance basis and can be restarted on short notice.

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Scorpio Gold’s Chairman, Peter J. Hawley, PGeo., is a Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the content of this release.
ON BEHALF OF THE BOARDSCORPIO GOLD CORPORATION

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Brian Lock,Interim CEO

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Strongbow Exploration Inc. {TSX-V:SBW}  announced that it has agreed to sell a 1.5% Net Smelter Returns royalty to Osisko Gold Royalties Ltd. {TSX: OR} on all metals and minerals produced from the South Crofty tin project in Cornwall, UK, for $7.17 million.

Concurrently with the Royalty sale, the Company intends to complete a non-brokered private placement of common shares at $0.14 per share for gross proceeds of up to $2.0 million.

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Strongbow Enters Into C$8.5m Royalty Sale And Equity Financing Agreement With Osisko Gold Royalties 

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Strongbow Exploration Inc. {TSX-V:SBW}  is pleased to announce that it has agreed to sell a 1.5% Net Smelter Returns royalty (the “Royalty”) to Osisko Gold Royalties Ltd. (TSX-OR) (“Osisko”) on all metals and minerals produced from the South Crofty tin project in Cornwall, UK, for $7.17 million.

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Concurrently with the Royalty sale, the Company intends to complete a non-brokered private placement of common shares at $0.14 per share for gross proceeds of up to $2.0 million. Osisko intends to purchase 9.5 million common shares at a total cost of $1.33 million.

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Proceeds from both the Royalty sale and the private placement will be used, subject to receipt of permits, to construct a water treatment plant at South Crofty and for general working capital.

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Richard Williams, President and CEO of Strongbow stated: “This agreement reinforces Osisko’s support of the South Crofty tin project and provides Strongbow with strong momentum as we advance the project to a production decision.”

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The Royalty will be structured as a secured convertible note (the “Note”) and be secured by a first ranking lien on the Company’s assets. The Note will be convertible into the Royalty upon the earliest date at which the Company is able to grant such a Royalty in a manner satisfactory to Osisko, in its sole discretion (the “Conversion”). The Note may only be drawn upon once all required permits are received from the Environment Agency for the construction and operation of a 25,000m3 /day waste-water treatment plant. The term of the Note will be the earlier of Conversion or two years from the date of draw-down.

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In addition to the sale of the Royalty, the Company intends to complete a non-brokered private placement of common shares (the “Shares”) at $0.14 per share for gross proceeds of up to $2.0 million. Osisko is expected to purchase 9.5 million common shares as part of this financing.

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Osisko beneficially owns, directly or indirectly, approximately 23.4% of the outstanding common shares of the Company and accordingly, the Royalty sale is a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”) and the policies of the TSX Venture Exchange. The Company is relying on certain exemptions available to it under MI 61-101 from the requirement to obtain a formal valuation and disinterested shareholder approval in respect of the transaction.

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Completion of the Royalty sale and the private placement is subject to certain conditions, including the approval of the TSX Venture Exchange. All securities issued as part of the private placement will be subject to a hold period of four months from the date the securities are issued. Closing of the private placement is expected to occur on or before September 8, 2017, subject to the receipt of all required approvals.

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For additional information please contact Richard Williams CEO.

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Kootenay Silver Inc. {TSX.V: KTN}  announced results from hole CC-17-28 drilled to test the extension of a large new mineralised zone recently discovered in the Venadas target area on its La Cigarra Silver project in Chihuahua State, Mexico.

The Company reports assays from hole CC-17-28 returned a series of good grading silver intercepts, extending the new discovery zone 140 meters northeast of original discovery hole CC-17-26.

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Kootenay Silver Inc. {TSX.V: KTN} is pleased to announce results from hole CC-17-28 drilled to test the extension of a large new mineralised zone recently discovered in the Venadas target area on its La Cigarra Silver project in Chihuahua State, Mexico.

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The Company reports assays from hole CC-17-28 returned a series of good grading silver intercepts, extending the new discovery zone 140 meters northeast of original discovery hole CC-17-26.

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The weighted average intervals are:

Hole CC-17-28

• 168.64 gpt silver over 7.0 meters, within
• 121.25 gpt silver over 12.0 meters and
• 92.88 gpt silver over 24.20 meters

All intervals are core length as the strike, dip and shape of the zone and thus true widths are unknown at this time.

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The strength and intensity of brecciation, veining and alteration observed in hole CC-17-28 is consistent with discovery hole CC-17-26, which bottomed in veining. Textures are indicative of a variant of an epithermal hydrothermal breccia complex. The new discovery zone is contained within the project’s Venadas target area 1000 meters south of La Cigarra’s established NI 43-101 resource. To view a set of maps click on the following link: Las Venadas Plan and Cross Sections Maps.

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Kootenay President and CEO James McDonald states, “The grades and characteristics of mineralisation encountered 140 meters away from hole CC-17-26 further supports the large-scale nature and potential continuity of the new zone. We are looking forward to further drill testing of this exciting new discovery.”

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The results represent only the upper part of the zone, as the hole was unable to drill further due to encountering faulted rock. Accordingly, it is believed the larger and stronger part of the system remained untested by the hole. In hole CC-17-26 more than 250 meters of veining, vein breccia was encountered right to the bottom of the hole with the stronger part of the zone toward the bottom of the intercept.

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The intercept is 140 meters northeast of CC-17-26 and 62 meters deeper establishing some meaningful extent to the zone in just the second hole.

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New Discovery Zone Proximity:

The new discovery zone is contained within La Cigarra’s Venadas target, which comprises a broad area of alteration and mineralization containing various different structures with vein-breccia, veins and veinlets, over an area measuring 500 by 800 meters. It is part of a trend of distinct mineralized structures, extending from La Borracha to the southward through the La Cigarra deposit (which includes the San Gregorio and Las Carolinas zones) into Las Venadas and further into Soledad and Los Chinos, over a distance of 6 kilometers.

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Upcoming Drilling and Development:

Drilling will now move back to site CC-17-26, which bottomed in mineralization after drilling over 250 meters of veining, vein breccia. A shallower hole will be drilled from this site to finish testing the full extent of mineralisation not tested in CC-17 26 and to provide a third intercept into the new zone which will aid in determining its shape needed to design further drilling. Once determined a drill program will be finalized for immediate and aggressive follow up drilling.

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Sampling and QA/QC

All technical information for the La Cigarra exploration program is obtained and reported under a formal quality assurance and quality control (“QA/QC”) program. Samples are taken from core cut in half with a diamond saw under the direction of qualified geologists. Samples are then labelled placed in plastic bags, sealed and with interval and sample numbers recorded. Samples are delivered by the Company via courier to ALS Minerals (“ALS”) in Chihuahua. The samples are dried, crushed and pulverized with the pulps being sent airfreight for analysis by ALS in Vancouver, B.C. Systematic assaying of standards, blanks and duplicates is performed for precision and accuracy. Analysis for silver, zinc, lead and copper and related trace elements was done by ICP four acid digestion, with gold analysis by 30-gram fire assay with an AA finish. All drilling will be with HQ core and has been contracted to BD Drilling from Guadalajara, Mexico.

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Qualified Persons

The Kootenay technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 (Standards of Disclosure for Mineral Projects) and reviewed on behalf Kootenay by James McDonald, P.Geo, President, CEO & Director for Kootenay, a Qualified Person.

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About Kootenay Silver Inc.

Kootenay Silver Inc. is an exploration company actively engaged in the discovery and development of mineral projects in the Sierra Madre Region of Mexico and in British Columbia, Canada. Supported by one of the largest portfolios of silver assets in Mexico, Kootenay continues to provide its shareholders with significant leverage to silver prices. The Company remains focused on the expansion of its current silver resources, new discoveries and the near-term economic development of two of its priority silver projects located in prolific mining districts in Sonora, State and Chihuahua, State, Mexico, respectively.

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For additional information, please contact:
James McDonald, CEO and President

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Colonial Coal {TSX.V: CAD} have announced the nomination of Gregory A Waller to become a director of the company, at their forthcoming AGM.

The company have also set the date for the forthcoming AGM, the 13th September 2017.

Mr. David Austin reports

COLONIAL COAL NOMINATES GREGORY A. WALLER FOR DIRECTOR

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Gregory A. Waller has consented to putting his name forward, with the support the entire board of directors, for nomination for election as a director of Colonial Coal International Corp. {TSX.V: CAD} at the corporation’s coming annual general meeting materials to be held on Sept. 13, 2017.

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Mr. Waller has over 30 years of experience in the mining industry as a senior executive in the areas of investor relations, business and corporate development, marketing, and finance.

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Currently, Mr. Waller is senior vice-president, investor relations and strategic analysis, for Teck Resources Ltd. He has been a key member of the senior management team at Teck and involved with numerous acquisitions, financings and other strategic initiatives. Mr. Waller holds an MBA from the University of Calgary and a BComm from the University of British Columbia.

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David Austin, president and chief executive officer of Colonial Coal, stated: “We are very pleased to have Greg join our board. His extensive experience in corporate development and finance, with deep knowledge of the metallurgical coal industry, will be an excellent complement to our existing board.”

About Colonial Coal International Corp.

Colonial Coal is a publicly traded coal corporation in British Columbia that focuses primarily on coking coal projects. The northeast coal block of British Columbia, within which the corporation’s projects are located, hosts a number of proven deposits and has been the subject of merger and acquisition activities by Xstrata, Walter Energy, Anglo-American and others.

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We seek Safe Harbor.

Minera IRL {CSE: MIRL} have announced a significant reduction in the capex and build time required for their new Ollachea mine in Puno, Peru.

By reducing the throughput to 1,500 TPD, a 50% cost saving and an 11 month time saving can be achieved.

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Minera IRL {CSE: MIRL} have announced a significant reduction in the capex and build time required for their new Ollachea mine in Peru.

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By reducing the throughput to 1,500 TPD, a 50% cost saving and an 11 month time saving can be achieved.

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Minera also state that they are in possession of the required licences to commence production at Ollachea, and are in discussion with two funds that are potential investors.

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To read the full article, which is in Spanish, please click HERE

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Avalon Advanced Materials {TSX: AVL}  has completed a non-brokered private placement consisting of 3.1 million flow-through shares at a price of 14.5 cents per share for gross proceeds of $449,500.

2017-08-16 17:10 ET – News Release

Mr. Don Bubar reports

AVALON COMPLETES NON-BROKERED FLOW THROUGH  PRIVATE PLACEMENT FOR GROSS PROCEEDS OF $450,000

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Avalon Advanced Materials {TSX: AVL}  has completed a non-brokered private placement consisting of 3.1 million flow-through shares at a price of 14.5 cents per share for gross proceeds of $449,500.

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In conjunction with this private placement, Avalon paid finders’ fees of $26,970 and issued 186,000 non-transferable finders’ warrants, with each finder’s warrant being exercisable to acquire one common share of the company at a price of 14.5 cents for a period of 24 months from today.

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Pursuant to Canadian securities laws, the securities issuable under this private placement are subject to a hold period, which expires on Dec. 17, 2017. The proceeds from this offering will be used primarily to continue to advance the company’s Separation Rapids lithium project, including the summer fieldwork programs currently in progress and additional metallurgical testwork.

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The work program is being supervised by Bill Mercer, PGeo (Ontario), and vice-president, exploration, of Avalon, who is a qualified person for the purposes of National Instrument 43-101.

Bitcoin $BTC  recently underwent a “hard Fork” event, effectively splitting the coin into two currencies, Bitcoin, and Bitcoin Cash.

The following articles explains the reasoning behind the fork,and how it effects Bitcoin holders.

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Bitcoin “Hard Fork” explained.

Bitcoin $BTC  recently underwent a “hard Fork” event, effectively splitting the coin into two currencies, Bitcoin, and Bitcoin Cash.

The following articles explains the reasoning behind the fork,and how it effects Bitcoin holders:

To read the full article, please click HERE

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