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April 23, 2025
15 June
Further Excellent Metallurgical Results From Remorse-Yalgoo
Tempest Minerals (TEM:AU) has announced Further Excellent Metallurgical Results From Remorse-Yalgoo
30 May
Geochemical Sampling Extends Sanity Gold Anomalies - amended
Tempest Minerals (TEM:AU) has announced Geochemical Sampling Extends Sanity Gold Anomalies - amended
20 May
Yalgoo - Geochemical Sampling Extends Sanity Gold Anomalies
Tempest Minerals (TEM:AU) has announced Yalgoo - Geochemical Sampling Extends Sanity Gold Anomalies
4h
Falco Resources Eyes Governmental Decree for Horne 5 Gold Project Before Year End
Falco Resources (TSXV:FPC) has entered the final stages of the environmental authorization process for its flagship Horne 5 gold project in Quebec, with a government decision expected by late 2025.
“(An environmental analysis) report should be submitted to the minister in the next few months, and the final decision has to be done by decree,” said Luc Lessard, president and CEO of Falco Resources, in an interview with Investingnews.com. The company is hoping the decision will come sometime late in 2025, Lessard added.
Located in the prolific Abitibi region, the Horne 5 project is central to Falco’s strategy to support Quebec’s ambition to lead the energy and technological transition. Lessard emphasized that the project’s mineral profile, particularly its zinc and copper content, makes it well-positioned to align with Quebec’s broader critical and strategic minerals development plan.
The chief executive also noted the Horne 5 project leverages several environmental innovations, including a set of measures to protect waterways and drinking water intake, the Implementation of a dust collection system to reduce metal emissions from mine ventilation by 98.64 percent, and the use of already disturbed sites unlikely to be rehabilitated without the mining project.
Falco is also looking to the future with significant exploration potential for the Horne 5 project, beyond its current deposit.
Falco owns about 67,000 hectares of land package in the Abitibi, Lessard noted. “That gives us the possibility to increase additional resources closer to the surface, add some feed to the central mill of the Horne 5 project, and that will increase the life of mine.”
Watch the full interview with Falco Resources President and CEO Luc Lessard above.
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22 July
Quarterly Activities/Appendix 5B Cash Flow Report
22 July
Mali Court Upholds Detention of Barrick Employees
A Malian court has upheld the detention of four employees of Barrick Mining (TSX:ABX,NYSE:B), rejecting an appeal filed by the Canadian mining company as its dispute with the military-led government deepens.
According to a Bloomberg report, Judge Samba Sarr ruled on Tuesday (July 22) that the appeal was unfounded, according to Barrick’s legal counsel, Alifa Habib Koné.
The employees have been held in pre-trial detention since November 2023 on charges including money laundering and financial misconduct, allegations the company has dismissed as without merit.
In June, Mali’s transitional government placed the Loulo-Gounkoto mine under provisional administration and later removed nearly a metric ton of gold from the site. A similar seizure of 3 metric tons occurred earlier this year after Barrick suspended exports due to the dispute.
Barrick has initiated international arbitration proceedings, citing violations of its mining convention with the state.
The company says it was not formally notified of the appointment of the provisional administrator, who it later learned was a former company employee, Samba Touré, now serving as a liaison to the mines ministry.
Touré has been facilitating state control of the site since the takeover.
The Loulo-Gounkoto complex, which Barrick operates and owns 80 percent of, remains central to its African portfolio. The remaining 20 percent is held by the Malian government.
Barrick reported that its Malian operations generated US$949 million in revenue during the first nine months of 2023.
The company has framed the seizures and detentions as part of a broader dispute over tax claims and the implementation of Mali’s new mining code, which includes increased state equity and royalty rates.
In December 2023, a court in Bamako issued a warrant for the arrest of Barrick CEO Mark Bristow. The company has not publicly addressed the warrant but continues to operate in the country while pursuing legal remedies.
Amid the mounting friction in Mali, Barrick is in discussions to sell its Hemlo mine in Ontario, its last producing gold asset in Canada. The prospective buyer is Discovery Silver (TSX:DSV,OTCQX:DSVSF), which has been expanding its portfolio following its recent acquisition of Newmont's (TSX:NGT,NYSE:NEM) Porcupine operation.
A finalized Hemlo deal would mark Barrick’s complete exit from Canadian gold production. Hemlo has seen declining output in recent years and is no longer considered core to Barrick’s long-term strategy.
The ongoing standoff in Mali continues to affect the company’s export flows and local operations, with no resolution yet announced regarding the release of detained staff or the return of the seized gold.
Loulo-Gounkoto produced over 680,000 ounces of gold in 2023, making it one of the most productive mines in West Africa. Barrick has said it is committed to resolving the dispute under the terms of its mining agreement with Mali.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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22 July
Brightstar Resources Pursues Aurumin Acquisition to Consolidate Sandstone Assets
Brightstar Resources (ASX:BTR) has entered into a scheme implementation deed with Aurumin (ASX:AUN) under which Brighstar will acquire 100 percent of Aurumin’s issued capital.
The companies agreed on arrangement terms in June, underlining how the transaction will consolidate their tenement holdings in the Central Sandstone region in Western Australia.
Brightstar owns the Sandstone gold project, while Aurumin owns the Central Sandstone gold project.
According to Brightstar, the combined assets would lead to a pro-forma total mineral resource estimate of approximately 2.4 million ounces at 1.5 grams per tonne (g/t) gold.
“We believe that combining Aurumin and Brightstar represents a unique opportunity to build a Western Australian gold business of genuine scale with demonstrable upside that also de-risks future development activities and operations at Sandstone,” commented Brightstar Managing Director Alex Rovira in a Monday (July 21) release.
The transaction amounts to approximately AU$0.12 per Aurumin share, with Aurumin shareholders set to receive one Brightstar share for every four shares held on the scheme’s date. Existing Brightstar shareholders will hold 82 percent of the combined group, while Aurumin shareholders will have the remaining 18 percent.
“(This merger) will underpin the mining future of the Sandstone region. Given our adjacent mineral resources, this transaction makes good commercial sense for us and it’s fantastic that we have now been able to agree terms to make this consolidation a reality,” said Aurumin Managing Director Daniel Raihani.
In December 2024, Brighstar reported drilling results from its expanded portfolio at Sandstone and Jasper Hills, including 21 metres at 2.86 g/t gold, including 1 metre at 26.4 g/t from 146 metres.
For Central Sandstone, Aurumin said its resource is currently 19 million tonnes at 1.5 g/t for 885,000 ounces gold. The project also contains iron, with assays returning grades of up to 67 percent iron.
Subject to court approval and other customary conditions, the transaction is expected to be implemented in October.
Shares of Brightstar rose 1.03 percent a day after the announcement, closing at AU$0.49 on Tuesday (July 22).
Don’t forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Brightstar Resources is a client of the Investing News Network. This article is not paid-for content.
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22 July
Quarterly Activities/Appendix 5B Cash Flow Report
21 July
John Feneck: Gold, Silver, Platinum, Copper — 8 Stocks to Play These Metals
John Feneck, portfolio manager and consultant at Feneck Consulting, outlines his latest thoughts on the gold, silver, platinum and copper markets.
With prices on the rise, he encouraged investors to get involved if they aren't already.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
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