Exciting news out of Quebec today from Alexandria Minerals. Check out our top headline picks for today:
1. Alexandria Minerals Announces Shallow In-Fill Drilling Intersects 4.62 g/t Gold over 30.05 Metres at Orenada Zone 4, Further Substantiates Gold Mineralization above 200 Metres
(Source: Alexandria Minerals)
Eric Owens, President and CEO of Alexandria, stated, “We are extremely pleased with these results and the progress to-date. The shallow occurrence of the multiple, flat, high-grade gold veins together with their intervening, gold-bearing wallrock make a great bulk tonnage target. These wide intersections will add to the gold grades that we have already been building, and we are anticipating further strong assays in the coming weeks and months.” (See full press release here)
Mid-tier Canadian miner B2Gold (TSX, NYSE: BTO) has poured its first gold at its Fekola mine, in south-western Mali, about three months ahead of schedule and said is on track to begin commercial production before the end of the year.
The Vancouver-based company expects production of between 50,000 and 55,000 ounces of gold from its new mine in West Africa to bring its total metal production for 2017 to between 530,000 and 570,000 ounces of gold. (See full article here)
A rebound in commodity prices and a lower Canadian dollar have injected fresh momentum into the mining industry in Quebec.
In some ways, this is a continuation of the strengthening we’ve seen across the industry since the financial crisis. Things have improved significantly since 2008, with producers across the province shoring up their balance sheets and holding much healthier cash balances. And on the cost side, miners are continuing to drive down expenses through a focus on productivity and the subsequent automation and digitization of their operations.
Even with these positive indicators, insufficient financing and volatility in the mining industry continue to persist, and a number of other significant business risks pose challenges for Quebec producers. Based on EY’s 2017 ranking of the business risks facing mining and metals, the following three risks stand out as particularly relevant for producers and explorers based in the province. (See full article)
5. There’s Gold in Switzerland’s Sewage
Switzerland has so much gold that the country is flushing it down the drain. According to a new analysis by Eawag, the Swiss Federal Institute of Aquatic Science and Technology, every year 95 pounds of gold, worth nearly $2 million, passes through Swiss wastewater treatment plants.
The gold, the researchers believe, comes from “tiny flecks of gold”—residue from the country’s watchmaking industry and gold refineries. As Bloomberg points out,refineries in this small European country deal with 70 percent of the world’s gold. (See full article here)