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The Na-Cho Nyäk Dun First Nation is demanding an immediate cessation of all mining operations on its traditional lands in Yukon after a landslide at Victoria Gold's (TSXV:VGCX,OTC Pink:VITFF) Eagle mine last week. In a statement released on Wednesday (July 3), the First Nation called for an independent investigation and review of the incident, labeling it "the region's most recent and potentially catastrophic mining failure." Chief Dawna Hope emphasized the need for sustainable development and responsible mining practices, highlighting the priority of protecting the integrity of the Na-Cho Nyä...
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Biotech is a dynamic industry that is driving scientific advancements and innovation in healthcare. According to Grandview Research, the global biotech market was worth US$1.55 trillion in 2023, and the firm expects it to grow at a CAGR of 13.96 percent between 2024 and 2030 to reach a value of US$3.08 trillion. In Canada, the biotech industry is home to companies pursuing cutting-edge therapies and medical technologies, and the Investing News Network has identified the top three biotech stocks based on their year-on-year gains. Data on Canadian biotech stocks was collected on July 2, 2024, us...
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Endeavour Mining (LSE:EDV,TSX:EDV,OTCQX:EDVMF) said on Monday (July 2) that it has completed the first gold pour at its Lafigué mine in Côte d’Ivoire ahead of schedule, 21 months after construction began. “We are proud to have achieved our first gold pour at Lafigué, which, alongside the first gold pour at the Sabodala-Massawa BIOX expansion that we achieved in April, marks the successful completion of the recent phase of investment and growth that we started in Q2-2022,” said CEO Ian Cockerill in a release shared by the company. “We now begin a new phase of increased free cash flow generation...
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The price of gold soared to record highs during the second quarter of 2024, reaching US$2,450.05 on May 19. The historic gains were due to several factors including waning inflationary figures and speculation an improving economic outlook would cause the US Federal Reserve to begin cutting rates. Gold prices also saw continued momentum from central bank buying in April and slower outflows to Western ETFs. However, the gold price saw its biggest drop in two years at the beginning of June as a strong jobs report cut the likelihood of a September rate cut and the People’s Bank of China reported i...
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Victoria Gold (TSXV:VGCX,OTC Pink:VITFF) is facing scrutiny after the collapse of its Eagle mine's heap leach pad. The failure, which occurred on Monday (June 24), has led to the indefinite suspension of operations at the gold-producing asset, which is located in Canada's Yukon and employs up to 500 workers during peak production periods. Victoria Gold reported that the heap leach pad, which is used to extract gold from ore using a cyanide solution, experienced a failure resulting in infrastructure damage and a material slide beyond containment measures. No injuries were reported among site pe...
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Australia's Paladin Energy (ASX:PDN,OTCQX:PALAF) has announced plans to acquire Saskatchewan-focused Fission Uranium (TSX:FCU,OTCQX:FCUUF) in a transaction valued at C$1.14 billion. “The acquisition of Fission, along with the successful restart of our Langer Heinrich Mine, is another step in our strategy to diversify and grow into a global uranium leader across the top uranium mining jurisdictions of Canada, Namibia and Australia,” said Paladin CEO Ian Purdy in a press release on Monday (June 24). Under the terms of the agreement, Paladin will acquire 100 percent of the issued and outstanding ...
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Nevada Copper (TSX:NCU,OTC Pink:NEVDQ) filed for Chapter 11 bankruptcy protection under the US Bankruptcy Code on Monday (June 10) following an inability to secure funding or a change-of-control deal. The move comes less than a month after copper prices reached a new all-time high. The company also announced the appointment of Tom Albanese, former CEO of Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO), as the new chair of its board of directors following the resignation of Randy Buffington as president and CEO. Nevada Copper has faced issues at its Pumpkin Hollow asset in Nevada since 2022. In May of tha...
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Senior gold miner B2Gold (TSX:BTO,NYSEAMERICAN:BTG) and Sandbox Royalties announced on June 6 that they have entered into a purchase and sale agreement to create Versamet Royalties. As part of the transaction, B2Gold will sell 10 precious and base metals royalties to Sandbox, which will be renamed Versamet Royalties. Versamet will acquire ownership of the royalties by issuing 153.2 million common shares to B2Gold at a price of C$0.80 per share, giving B2Gold a 33 percent equity stake in Versamet. The royalties include 2.7 percent net smelter return (NSR) royalties on West African Resources' (A...
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Fortune Minerals (TSX:FT,OTCQB:FTMDF) will be working to secure strategic partners to invest in the NICO project following recent funding from the US and Canadian governments totaling C16.2 million to advance the cobalt-gold-bismuth-copper project to production, CEO and President Robin Goad told the Investing News Network. “So the financing plan for our asset, after we complete all the engineering and permitting work that's being covered by the US and Canadian governments, is to seek the project financing, which would probably be a combination of debt, but also equity. And the equity would be ...
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In a bid to enhance the North American critical minerals supply chain, the Canadian and US governments announced a co-investment in two Canadian companies under the Canada-US Energy Transformation Task Force. “Canada is positioning itself as a global leader in the supply of responsibly sourced critical minerals for the green and digital economy,” said Jonathan Wilkinson, Canada's minister of energy and natural resources. “Through our work with the United States and other allies, we are developing secure critical minerals value chains that will power a prosperous and sustainable future," he add...
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