A few exciting announcements. Check out our top headline picks for today:
Stelco Holdings Inc. announced today that it has filed a preliminary prospectus with the securities regulatory authorities in each of the provinces and territories of Canada and obtained a receipt in respect of its proposed initial public offering of common shares.
The Hamilton-based company, which emerged from bankruptcy protection three months ago and is owned by U.S. restructuring firm Bedrock Industries Group LLC, plans to raise $150-million in the share sale that could have a total market value of about $1 billion. (Read full article here)
An international group of scientists published a paper in Nature Communications where they state that under the peculiar conditions present deep in the Earth’s mantle, iron carbonates can play a role in forming diamonds.
The team led by Valerio Cerantola investigated the inclusions containing carbonates that are found in diamonds extracted from depths of some 700 km. The goal was to understand their range of stability, crystal structures and the thermodynamic conditions of the decarbonation process. (Read full article here)
(Source: Timmins Press)
The importance of the mining supply and service sector for Timmins and the rest of Ontario was highlighted Wednesday when the Northern Ontario Heritage Fund Corporation came to town with more than $5-million worth of investments in the Timmins area alone.
The news was announced by Northern Development Minister Michael Gravelle, who is also the chairman of the NOHFC board, which was meeting in Timmins this week. He made the announcement at the OK Tire Mining Division shop on Laforest Road, which was one of the grant recipients. (Read full article here)
Gold prices have fallen for the past three weeks as the Fed prepares to tighten monetary policy amid optimism over the health of the U.S. economy. That’s pared gains for the non-interest-bearing metal to about 12 percent this year. A rebound in the dollar this month and record-high stock markets have also sapped the appeal of bullion.
Gold futures for December delivery rose 0.1 percent to settle at $1,288.70 an ounce at 1:41 pm on the Comex in New York. (Read full article here)
5. Canadian Zinc Corp. Announces Feasibility Study Results for Prairie Creek Mine; Pre-Tax NPV of $344 Million
(Source: Junior Mining Network)
Canadian Zinc Corporation (TSX: CZN; OTCQB: CZICF) is pleased to report positive preliminary results for the Feasibility Study recently completed on its Prairie Creek Zinc-Lead-Silver Project in the Northwest Territories, Canada.
The preliminary results of the Feasibility Study (“2017 FS”) indicate notable improvements compared to the Preliminary Feasibility Study completed in 2016 (“2016 PFS”) and confirm that the Prairie Creek Mine can support a significant increase in the mining rate and mill throughput that will enable production of higher quantities of zinc, lead and silver, and at lower operating cost as compared to the mine plan presented in the 2016 PFS.
The 2017 FS was completed by AMC Mining Consultants (Canada) Inc (“AMC”) and Ausenco Engineering Canada Inc. (“Ausenco”), with input from Allnorth Consultants Limited, F. Wright Consulting Inc., G. Mosher of Global Mineral Resource Services Ltd. and HCF International Advisers Limited (“HCF”). (Read full press release here)