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Goldcorp Reports on Fourth Quarter 2018 and Full Year Results

 Goldcorp released its final stand alone Fourth Quarter and full year results for 2018. The Canadian gold mining giant was purchased by Newmont Gold of Denver, Colorado in December, 2018.

 
The results show that Goldcorp had  significant losses during the 4th Quarter and full year 2018 compared to 2017. 
As a result of the previously announced acquisition of the company by Newmont Mining Corporation (Newmont) for approximately $10 billion, Goldcorp recognized a non-cash impairment of $3,879 million (net of tax) representing the difference between the book value of the Company's shareholder's equity and the Newmont offer. Accordingly, the net loss for the fourth quarter of 2018 was $3,984 million or $4.58 per share, compared to net earnings of $242 million or $0.28 per share, for the fourth quarter of 2017.

New Shaft at Tahoe Resource's Bell Creek Mine Officially Opened

 Tahoe Resources officially opened its new shaft at Bell Creek mine in Timmins and with it an expected immediate increase in productivity.  The new shaft was replaces an historic 300 metre shaft and deepened it to 1,080 metres

Red Pine Exploration Announces Promising Drill Results from Surluga Deposit

 Red Pine Exploration Inc. announced new results from its exploration infill drilling in the gaps in the Surluga Deposit and from its confirmation drilling in the higher grade zones of the Deposit. The Surluga Deposit is one of two known deposits, identified to date, on the large 6,519 hectares Wawa Gold Project, located near Wawa, Ontario. 

Northern Graphite Plans to Increase Bissett Creek Production Rate

 Northern Graphite Corporation announced it intends to increase production at its Bisset Creek Project by approximately 25,000 tonnes as part of its development plants.  The decision to increase production was supported by an economic analysis that indicated increasing annual concentrate production by at least 20 per cent can be achieved with a relatively modest six per cent increase in capital costs for the first phase of development. A higher production would also reduce unit operating costs and is expected to have a very positive effect on the project’s net present value (“NPV”) and internal rate of return (“IRR”). 

Rock Tech's Channel Assays Indicate additional quantities of Lithium Pegmatite

Rock Tech announced assay results from a trenching and channel sampling program completed on the McVittie area of its Georgia Lake lithium property in the Thunder Bay Mining District of Northwest Ontario, Canada. The sample results found 1.56 percent lithium  from 0.88 to 1.19 percent to One channel sample returned 1.56 percent lithium over 1.20 metres.
 
The trenching program, following up on the positive results from the Company's Preliminary Economic Assessment announced October 2, 2018, suggests the main McVittie lithium-bearing pegmatite extends further to the north than previously understood. 
Pegmatite is an igneous rock, formed underground, with interlocking crystals. Pegmatites are the primary source of lithium
Furthermore, the northern extension exhibits greater width than sections of the pegmatite previously sampled in the south. 
During the program, a separate lithium-bearing pegmatite to the east was also traced along strike further to the north than previously thought.
 

Gold market is hot again - Mega deals turn gold mining around

After years on the sidelines, gold producers are suddenly the mining world’s hottest topic as the industry gathers in Cape Town this week. For more than half a decade, gold miners have been stuck in the doldrums, shunned by investors following a string of missteps and bogged down by a stagnant bullion price. Then, in September, a surprise mega deal turned the industry on its head. 

Detour Gold poised to Shift Gears

Major changes are likely in store for Detour Gold Corporation in 2019 now that the company’s highly public boardroom battle is in its rearview mirror. The company is poised to shift gears, downsize the head office structure, and concentrate on retooling daily operations.
A confidential source with direct knowledge of DGC’s recent developments, told Mining Life that the company’s struggles are on the ground at its northern Ontario gold mine, not the corporate boardroom of Detour’s downtown Toronto offices, although the two are inter-connected.

Harte Gold’s Sugar Zone Mine Opens Successfully Near White River

 Premier Doug Ford and Minister of Energy, Northern Development and Mines, Greg Rickford were on hand to celebrate the opening of Harte Gold’s Sugar Zone  mine near White River, Ontario on October 24, 2018.

Amrapali Group looks to Ontario & Quebec to Secure Millions of Ounces of Gold and Silver

Ten thousand miles from the drilling shacks that dot Northern Ontario and Quebec is a culture that loves Gold, the people who are associated with this culture are from India. In fact India’s love affair with precious metals extends to silver and diamonds. Depending on who you ask India is either the number one or two importer of Gold in the world.

Newmont & Goldcorp Combine to Form the World's Largest Gold Mining Company

Newmont Mining and Goldcorp have agreed to combine their operations and form the world’s largest gold mining company.
Under the terms of the agreement valued at $10 billion Newmont will exchange 0.328 of a share and two cents in cash for each of Goldcorp’s outstanding common shares.