Penny Stock Journal

PyroGenesis Canada Inc. - PYR.t

2022-06-06T10:48:00.000-07:00

PyroGenesis Canada Inc. - PYR.t is a leader in the design, development, manufacture and commercialization of advanced plasma processes. The company provides engineering and manufacturing expertise, contract research, and process equipment packages to the defense, metallurgical, mining, additive manufacturing, oil & gas, and environmental industries.

On September 30, 2021 the company released News

PyroGenesis Canada Inc. has received an order to supply four high-powered plasma torches, together with ancillary equipment, to a client for approximately $6-million. Client B is a multibillion-dollar international producer of iron ore. Client B's name will remain confidential for competitive reasons. Client B's objective is to reduce greenhouse gases (GHGs) by replacing its fossil fuel burners with PyroGenesis's proprietary plasma torches.

Orca Gold Inc. - ORG.v

2022-01-31T10:15:00.000-08:00

Orca Gold Inc. - ORG.v is focused in North and West Africa. Orca's flagship is the Block 14 gold project, located in northern Sudan, near the border with Egypt. A Feasibility Study predicts average gold production of +200,000 ounces per year for at least seven years.

On 2022-1-31 the company released News

Orca Gold Inc. has welcomed Perseus Mining Ltd. as a new strategic shareholder and has provided a corporate update.
Perseus Mining is a 500,000-ounce-per-year gold producer that operates three mines in West Africa. Confirmed by its announcement today (see Perseus release for details), Perseus has purchased a 15-per-cent shareholding interest in Orca from Resolute Mining Ltd. (RSG). In addition to this purchase, Perseus has also agreed to provide Orca with a $5-million (U.S.) short-term loan facility, which will mature on June 30, 2022, with interest charged at a rate of 7.5 per cent per annum. The proceeds from the loan will be used as working capital and for continued exploration and development activities at Block 14. This strategic share acquisition and loan facility positions Perseus to complete its evaluation of Sudan and the Block 14 gold project toward a possible transaction to acquire the balance of the outstanding securities of Orca. ________________________________________________ On 2021-10-21 the company released News

Orca Gold Inc. and the Government of Sudan signed all the key development agreements to proceed with the formal construction of a large commercial gold operation at the Block 14 Gold Project in northern Sudan. The signing took place at an official ceremony held on October 20, 2021, at the Ministry of Minerals in Khartoum, Sudan. Orca's President and CEO, Richard Clark, signed on behalf of the Company and his Excellency, the Honorable Minister of Minerals, Mohamed Bashir Abu Numo, signed on behalf of the Government of the Sudan.

Deadly rocks and minerals

2022-01-21T15:19:00.004-08:00

Arsenopyrite is arsenic iron sulfide, which is the same type of mineral as pyrite (fool’s gold, iron sulfide), but with a heavy addition of arsenic.

If one attempts to heat or in any way alter the mineral, a strong garlic odor of arsenic will be produced as lethally toxic, corrosive and carcinogenic vapors are released.

Torbernite prism shaped green crystals form as secondary deposits in granitic rocks, and are composed of uranium. It is formed through a complex reaction between phosphorous, copper, water and uranium.

Radon gas is slowly released from uranium decay.

Stibnite is antimony sulfide. The shining metallic crystals of this unstable compound were once fashioned into magnificent eating utensils.

Stibnite’s antimony laced crystals killed a number of people before it became known that use of the mineral was causing food poisoning of the worst kind.

Orpiment crystals are found growing below the surface in mineral formations, often near hydrothermal vents. The crystals release carcinogenic, neurotoxic arsenic powder.

Orpiment is known to give off a strong garlic smell due to its arsenic content, and may crumble into dangerous powder when exposed to light. The mineral was used as a primary component of ochre paint, and likely poisoned many of the artists who used it.

Cinnabar (mercury sulfide) is the single most toxic mineral to handle on Earth.

The name of the crystal means dragons blood, and it is the main ore of mercury. Forming near volcanos and sulfur deposits, the bright red crystals may release pure mercury if disturbed or heated, causing tremors, loss of sensation and death.

Minera Alamos Inc - MAI.v

2022-01-14T13:26:00.002-08:00

Minera Alamos Inc - MAI.v is advancing a growing portfolio of high-quality Mexican assets, including the La Fortuna open pit gold project in Durango.

On December 7, 2021 the co released News

Minera Alamos Inc. is pleased to provide an update of the ongoing ramp-up of mining activities at the Santana gold mine in Sonora, Mexico. Through the end of November 2021 in excess of 7,300 ounces of gold have now been placed on the leach pad since the expansion of mining activities was initiated in August; the majority stacked during the 3 months of September, October and November. Mining operations continue to progress with approximately 100,000 tonnes of new mineralized material stacked on the leach pad in each of October and November.

Newtopia Inc. - NEWU.v

2021-11-12T13:43:00.011-08:00

Newtopia Inc. - NEWU.v works closely with organizations and their employees to deliver highly personalized and targeted disease prevention solutions that are proven to reduce employer healthcare costs. Newtopia delivers sustainable clinical and financial outcomes.

On November 10, 2021 the company released Numbers

"Newtopia Inc. ("Newtopia" or the "Company") (TSXV: NEWU) (OTCQB: NEWUF), a tech-enabled habit change provider focused on disease prevention, today reported financial results for the third quarter 2021. All amounts are expressed in Canadian dollars, unless otherwise noted.

Third Quarter 2021 Financial Highlights (vs. Q3 2020):

Revenue of $2.9 million, as compared to $2.4 million.
Gross profit margin¹ of 50%, relatively consistent with the prior-year period.

"Newtopia experienced strong growth in the third quarter as a result of the successful rollout of a Fortune 50 health services client and the evolution towards more normalized pandemic-related operating procedures for our US clients. The return to top-line growth was anticipated following the significant enrollments during the second quarter that carried over into the third quarter. We continue to anticipate that the second-half of this year will see improvement over the first two quarters," said Jeff Ruby, Founder and CEO of Newtopia. "Gross margins also improved sequentially in the third quarter, totaling approximately 50% of revenue as recurring subscription revenue increased as a percentage of the total mix. Our successful participant rollouts over the summer brought our total third quarter engagements to a company record of 37,000."

mCloud Technologies Corp. - MCLD.v

2021-11-05T13:01:00.003-07:00

mCloud Technologies Corp. - MCLD.v is a leading provider of asset management solutions combining IoT, cloud computing, and artificial intelligence. ("AI") mCloud's AI-powered AssetCare™ platform offers complete asset management solutions.

On October 13, 2021 the company released News

mCloud Technologies Corp. (TSXV: MCLD) (OTCQB: MCLDF) ("mCloud" or the "Company"), a leading provider of AI-powered asset management and Environmental, Social, and Governance ("ESG") solutions today announced it received approval and a license to conduct business activities from the Ministry of Investment of Saudi Arabia ("MISA"). The MISA license marks a major milestone in mCloud's activities in the Middle East and North Africa ("MENA"), enabling mCloud to provide AssetCare solutions to the Kingdom of Saudi Arabia and other countries in the MENA region.

Earth's biggest gold deposit formed by ancient microbes?

2021-11-01T11:11:00.004-07:00

Gold was discovered in South Africa's Witwatersrand Basin in 1886, and since then, around half of all gold mined throughout the world has originated from that source. Geologists know that the gold reached the Earth's surface by coming up with lava that formed the Kaapvaal Craton mountain range. However, the Kaapvaal Craton is located in the Limpopo Province in north-east South Africa. How did the gold move several hundred kilometres from there to get to the Witwatersrand basin in Gauteng?

Three billion years ago, the atmosphere contained almost no oxygen and the air consisted primarily of gases containing sulphur. Gases like hydrogen sulphide were pumped out of volcaneos, rising to form clouds that then fell as acid rain on the mountains. In a new study published in Nature Geoscience entitled, "Witwatersrand gold deposits formed by volcanic rain, anoxic rivers and Archaean life", Christoph Heinrich, a professor of Economic Geology, argues that the gold didn't just get moved by the rivers – it was first dissolved chemically in volcanic rain. Heinrich's theory is that the gold would have formed soluble complexes with the sulphur, which were then absorbed by water, before finally being separated by primitive microbes to form the gold.

The new theory may explain why there's a string of gold beds in the Witwatersrand basin that collectively make up 40 percent of all of the gold that has ever been, or ever will be, dug out of the ground.

Gold is a rare element in the universe that forms only in the hearts of supernovae. The precious metal has been part of Earth since its birth 4.6 billion years ago, and while most of the Earth's gold is locked deep within the planet's core, the rest is largely dispersed throughout rocks at incredibly tiny concentrations of about one part gold per billion. Occasionally, a physical phenomenon causes the gold to become enriched in certain layers of rock. In the case of the Witwatersrand formation, up to 1 percent of the carbon-rich layers is made up of gold.

Mponeng - World's deepest Gold Mine

2021-10-26T18:36:00.002-07:00

Mponeng is a gold mine in South Africa's North West Province, about 65 km southwest of Johannesburg, owned by AngloGold Ashanti. Mponeng means 'look at me' in the local Sotho language. Formerly the Western Deep Levels South Shaft, or Shaft No 1, Mponeng is the most recently sunk of the three former Western Deep Levels mines. The global record was broken in 2009 after digging 3,777m. With the current sink, the mine would go down to 4,100m. Plans could take the Mponeng Mine to 4,500m below the surface.

The mine was originally built by the Anglo American Corporation with its 2 km (1.2 mi) deep main shaft being sunk in 1957.

The Mponeng Mine is also one of the world's richest with grades at over 8g/t. Production is primarily sourced from the Ventersdorp Contact Reef, a seam of ore that averages only 30 inches wide. Work is progressing to extract the ore from the Carbon Leader Reef below it.

In an effect known as the geothermal gradient, the temperature of the earth increases with depth. Rock temperature reaches 140 degrees Fahrenheit and humidity 95 percent. 6,000 tons of ice a day keeps Mponeng's deepest levels at 83 degrees. Ice is made in a surface plant, then mixed with salt to create a slush that is pumped to underground reservoirs. There, giant fans pass air over the coolant and push the chilled air further down into the mining tunnels.

Every day the 4000 miners at the Mponeng Mine detonate 5,000 pounds of explosives. Every day they take away 6,400 tons of rock. The laws of compressive force dictate that the rock will try to close the spaces left by mining.

Six hundred times a month a "seismic event" will shudder through the Mponeng mine. Sometimes the quakes cause rockbursts, when rock explodes into a mining cavity and mows men down with a deadly spray of jagged rock.

Sometimes a tremor causes a "fall of ground"—the term for a collapse. Some of the rockbursts had been so powerful that other countries, detecting the seismic signature, had suspected South Africa of testing a nuclear bomb.

High Tide Inc. - HITI.v

2021-09-16T17:07:00.003-07:00

High Tide Inc. - HITI.v is a global vertically integrated cannabis company. The Co's premier brand, Canna Cabana, currently spans over 34 locations with additional locations under development across Canada. High Tide has been serving cannabis consumers for over a decade.

On September 15, 2021 the co released News

High Tide Inc. (TSXV: HITI) (Nasdaq: HITI) (FSE: 2LYA), a retail-focused cannabis corporation enhanced by the manufacturing and distribution of consumption accessories, announced today that its META Cannabis retail store located at 366 Main Street in Selkirk, Manitoba, has begun selling recreational cannabis products for adult use. This opening represents High Tide’s 94th branded retail location across Canada, and 9th in Manitoba, selling recreational cannabis products and consumption accessories. The new store is located within a major commercial plaza anchored by national grocery and pharmacy chains.

GT Gold Corp. - GTT.v

2020-11-10T11:57:00.002-08:00

GT Gold Corp. - GTT.v is focused on the flagship Tatogga property, located off highway 37 in northern B.C.

The discovery area combines a shallow bulk-tonnage-style gold at surface and, just below, a deep high-grade underground-style Cu-Au-Ag porphyry system.

On November 9, 2020 the company released News
GT Gold Corp. is pleased to announce that further to its news release of November 2, 2020, it has today closed the first tranche of its fully subscribed non-brokered private placement financing. The first tranche closing consists of the sale of 1,112,954 common shares at a price of C$1.25 per share for gross proceeds of C$1.39 million. _______________________________________ On January 16, 2019 the company released News - GT Gold Drills 53.73 metres of 10.00 g/t Au, 46.84 g/t Ag at Saddle South

Drill hole TTD135  Intersected 14.80 metres @ 4.29 g/t Au, 8.53 g/t Ag, from 34.00 to 48.80 metres o Including 6.50 metres @ 6.90 g/t Au, 12.16 g/t Ag, from 42.30 to 48.80 metres.
 Intersected 16.59 metres @ 1.79 g/t Au, 5.18 g/t Ag, from 62.50 to 79.09 metres o Including 1.50 metres @ 5.87 g/t Au, 8.93 g/t Ag, from 65.50 to 67.00 metres
 Intersected 53.73 metres @ 10.00 g/t Au, 46.84 g/t Ag, from 93.27 to 147.00 metres o Including 35.73 metres @ 13.45 g/t Au, 68.01 g/t Ag, from 93.27 to 129.00 metres  Including 15.02 metres @ 24.90 g/t Au, 114.20 g/t Ag, from 93.27 to 108.29 metres  Including 6.73 metres @ 31.69 g/t Au, 92.89 g/t Ag, from 93.27 to 100.00 metres  Including 3.29 metres @ 27.52 g/t Au, 142.24 g/t Ag, from 105.00 to 108.29 metres
 Intersected 2.59 metres @ 9.47 g/t Au, 6.30 g/t Ag, from 158.66 to 161.25 metres

First Vanadium Corp - FVAN.v

2020-09-18T15:29:00.016-07:00

On Nov 6, 2020 the co released News
"First Vanadium Corp. has resumed reverse circulation drilling on its gold target below the vanadium resource on its Carlin vanadium-gold property on the Carlin gold trend in Nevada."Carlin–type gold deposits are sediment-hosted disseminated gold deposits. They are characterized by invisible gold in pyrite and arsenopyrite. Carlin–type deposits represent some of the largest hydrothermal gold deposits in the world.

First Vanadium Corp - FVAN.v is advancing the Carlin Vanadium Project. The Carlin Vanadium Project contains one of North America’s largest, richest known primary deposits of vanadium.

First Vanadium has identified a large-scale Carlin-type gold system.

On Nov 2, 2020 the co released News

First Vanadium Corp. has released results from its first reverse circulation drill hole designed to provide an initial penetration into a potential gold target opportunity below the vanadium resource on its Carlin vanadium-gold property on the Carlin gold trend in Nevada. The gold opportunity was identified by renowned geologist and mine-finder Dave Mathewson, a former Newmont Regional Exploration Manager who is the Company's Geological Advisor and is the Qualified Person spearheading and supervising the gold drilling program.

Dave Mathewson states, "With our very first hole we have drilled into a significant large-scale Carlin-type gold system at a reasonable depth, much like I have seen elsewhere in the Carlin Gold Trend. "

Click - See---> https://www.vanadiumprice.com/

Alianza Minerals Ltd. - ANZ.v

2020-09-15T08:32:00.000-07:00

Alianza Minerals Ltd. - ANZ.v is a prospect generator focused on the Americas, particularly the Cordilleran regions of western North and South America.

Alianza has four projects in Peru, eight in Nevada, six in the Yukon and three Mexico royalties.

On July 24, 2020 the company released News

Alianza Minerals Ltd. reports that crews have returned to site for completion of the 2020 reverse-circulation (“RC”) drilling program at the Horsethief Gold Property, Nevada. This work is funded by partner Hochschild Mining (US), a subsidiary of Hochschild Mining PLC (“Hochschild”, LSE:HOC) under an option to earn a 60% interest in the project by funding exploration expenditures of US$5 million over 5.5 years. Drilling is underway at pad RC-10, the seventh hole of the program.

Six holes have been completed to date, totalling 1,770 metres (5,805 feet) of drilling. Analytical results from the initial holes of the 2020 program have yet to be received and are expected soon.

Crescita Therapeutics Inc - CTX.v

2020-08-12T18:45:00.000-07:00

Crescita Therapeutics Inc - CTX.v owns a portfolio of non-prescription skincare products and has one FDA approved prescription product, Pliaglis. Crescita owns the sales and marketing rights in over 20 countries available for out-licensing.

On Aug 12, 2020 the company released Numbers

Revenue was $1,733, a decrease of $7,629. In Q2-F2019, the Company recognized $5,459 in up-front payments and guaranteed future minimum royalties in connection with the out-licensing agreement with Cantabria Labs ("Cantabria" and the "Cantabria Agreement");
Gross profit was $1,092, representing a gross margin of 63.0%;
Operating expenses (excluding COGS) were $2,318, a decrease of $1,012;
Recorded a non-cash impairment charge on intangible assets of $1,918 to reflect the projected impact of the pandemic-driven decrease in demand for certain products and services;
Adjusted EBITDA¹ was $(781), a decrease of $5,864, mainly due to the revenue recognized in connection with the Cantabria Agreement in Q2-F2019 of $5,459;
Ending cash position was $9,265, a decrease of $69 versus Q1-F2020 and flat versus Q4-F2019.

Bluma Wellness Inc. - BWEL.U

2020-08-05T17:15:00.000-07:00

Bluma Wellness Inc. - BWEL.U assembled one of the most experienced and talented teams in cannabis cultivation in the world. The talent made it clear that they were only willing to go on this journey to be the best, not the biggest.

The company's goal is a significant increase in the available premium cannabis product to sell to its customers after recent investment in cultivation and processing facilities in Florida. The company operates 4 stores with plans for 10 by the end of Q4. Production has gone from 300 pounds a month to 1,500 pounds a month.

On July 24, 2020 the company released News

Bluma Wellness Inc. has agreed to issue 4,480,238 non-transferable common share purchase warrants to AFC Warehouse LLC (also known as Advanced Flower Capital) pursuant to the terms and conditions of the existing $15-million (U.S.) non-revolving, staged advance loan between Advanced Flower Capital and CannCure Investments Inc., a subsidiary of the company. The construction loan is being used, in part, to finance the expansion and completion of the company's facilities at the Indiantown greenhouse facility.

Mimi’s Rock Corp. - MIMI.v

2020-07-02T12:34:00.000-07:00

Mimi’s Rock Corp. - MIMI.v operates an online dietary supplement and wellness company. Primary brand being delivered is Dr. Tobias. The brand features over 30 products including the top selling colon cleansing product and the #1 selling Omega 3 Fish Oil on Amazon.com.

On June 30, 2020 the company released News

Mimi's Rock earns $281,515 in Q1

Mimi's Rock Corp. has provided its financial results for the three months ended March 31, 2020.

Q1 2020 revenues of $10.4-million -- highest quarterly revenue to date;
Q1 2020 adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) of $1.23-million.

Noble Mineral Exploration Inc. - NOB.v

2020-04-17T15:58:00.001-07:00

Noble Mineral Exploration Inc. - NOB.v is advancing 78,527 hectares (~194,000 acres) in the Timmins-Cochrane area of Northern Ontario.

Project 81 is focused on Nickel-Cobalt/VMS/Gold exploration.

On April 16, 2020 the company released News

Noble is pleased to announce that drilling has commence on the Calder Gold Target, which forms part of Project 81 and is located in Calder Township north of Timmins, Ontario, Canada. The program is designed to test a prominent untested structure identified by an Airborne EM-Mag Survey flown in 2018 by BECI.

Athabasca Minerals Inc. - AMI.v

2019-12-25T10:48:00.000-08:00

Athabasca Minerals Inc. - AMI.v is an integrated group of aggregates companies involved in resource development, aggregates marketing and midstream supply-logistics solutions.

On Feb 11, 2020 the company released News

Athabasca Minerals Inc. is pleased to announce that AMI Silica Inc., a wholly-owned subsidiary of AMI, has secured an anchor offtake agreement with Shell Canada Energy for its Duvernay Frac Sand Project.

Westhaven Ventures Inc. - WHN.v

2019-12-11T16:54:00.000-08:00

Westhaven Ventures Inc. - WHN.v is advancing the 15,542 ha Shovelnose property, located near the southern end of the Spences Bridge Gold Belt (SBGB), approximately 30 km south of Merritt, British Columbia.

On March 18, 2019 the company released NEWS

Westhaven Drills 12.66 Metres of 39.31 g/t Gold and 133.11 g/t Silver at Shovelnose

__________________________ On December 19, 2018 the company released NEWS

Westhaven Ventures Inc. has provided an update on its recently completed drill program at its 15,542-hectare Shovelnose gold property, located within the prospective Spences Bridge gold belt (SBGB), which borders the Coquihalla Highway, 30 kilometres south of Merritt, B.C.

Westhaven has completed another 2,183 metres (m) of diamond drilling in 5 holes. Due to a scheduled holiday break, pending assays will be released in early 2019 when received.
Epithermal vein mineralization has been intersected in all drill holes.
Multiple occurrences of visible gold have been encountered in holes SN18-18 and SN18-21.
__________________________ On October 31, 2018 the company released NEWS

Westhaven Drills 46.20 Metres of 8.95 g/t Gold and 65.47 g/t Silver at Shovelnose

Drill hole SN18-15 returned 46.20 metres of 8.95 grams per tonne gold and 65.47 grams per tonne silver, including 5.00 metres of 14.70 grams per tonne gold and 215.00 grams per tonne silver. SN18-15 is 100 metres southeast of hole SN18-14, which returned 17.77 metres of 24.50 grams per tonne gold and 107.92 grams per tonne silver. The strike length of the South zone is 700 metres and is open to the east and southeast. A fully financed drill program is expected to commence in early November.

Mozambique gold mining

2019-10-12T13:43:00.000-07:00

Manica, Mozambique - They are washing the soil, day and night, hoping to reveal gold.

80 percent of gold prospectors arrive illegally from the neighboring country of Zimbabwe. The miners claw at the earth between 15 and 20 metres beneath the surface, in an extensive tunnel system.

The diggers work on their own account, and after selling the gold they must give half of the money to the owner of the land.

Workers earn 15 meticals (about $0.40) per sack they deliver to the river. On average, they deliver 40 to 50 sacks a day.

Unigold Inc. - UGD.v

2019-09-23T16:05:00.001-07:00

Unigold Inc. - UGD.v is focused on the flagship Neita concession in the Dominican Republic.

Unigold has been actively involved in exploration in the Dominican Republic for the past decade and is concentrated within the 75km-wide Cretaceous-age Tireo-formation volcano sedimentary rocks, known for hosting major deposits.

On September 19, 2019 the Company released News

"Unigold Inc. is pleased to announce that it has closed its previously announced private placement of 32,350,000 units of the Company at a price of $0.10 per Unit for gross proceeds of C$3,250,500. The funds will be used for continued exploration on the Neita Concession as the Company seeks to enlarge the known mineralization, and expand on the last results reported in 2016.

The proceeds from the Private Placement will be used to fund the Company's continued exploration and development of its gold assets in the Dominion Republic, and for general working capital purposes.
_________________________________________________

Mystery of the Pilbara gold nugget

2019-09-07T10:44:00.000-07:00

An old-school gold rush kicked off in the Pilbara goldfields in 2017 with the discovery of hundreds of gold nuggets shaped like watermelon seeds. Since then, the mystery of the source has grown. Two competing theories try to explain ‘Pilbara nuggets.’

Nuggets ranged in size and shape, suggesting they may have been caused by a ‘rough and tumble’ life in ancient riverbeds in a sedimentary process. This involves weathering and erosion and squashed into another form of rock, called conglomerate. An alternative theory is the gold conglomerate may have been transformed and modified through hydrothermal events. These occur when hot fluids seep through faults and cracks in the rock causing the metal to deform under high temperature and pressure.

Scientists have examined the geology and geochemistry of samples taken from the region, with imaging results of the 2.8 billion-year-old rocks revealing information.

Data suggested a clear hydrothermal influence at some point in their history, however, whether the nuggets were originally formed through sedimentary processes can't be confirmed.

4Front Ventures - FFNT.c

2019-09-05T11:28:00.003-07:00

4Front Ventures - FFNT.c owns, operates or manages six cultivation and production facilities and 11 retail facilities across eight states.

On August 29, 2019 the company released News

4Front Holdings loses $5.37-million (U.S.) in Q2

4Front Ventures Corp. has released the interim unaudited financial results of 4Front Holdings LLC for the quarter ended June 30, 2019. Amounts are in U.S. dollars unless otherwise stated.

Because second quarter 2019 predated the closing of 4Front Holding's business combination with Cannex Capital Holdings Inc. on July 31, 2019, the reported and filed financial results are not consolidated and do not reflect the results of Cannex for the period.

Pure Gold Mining Inc. - PGM.v

2019-08-07T10:34:00.000-07:00

Pure Gold Mining Inc. - PGM.v is advancing the Madsen Mine.

The Madsen Mine produced more than 2.4m ounces, making it the second-largest historic Red Lake gold producer. Resources are 1,744,000 ozs at 8.7 g/t Gold in 6.24 Mt Indicated and 296,000 ozs at 7.9 g/t Gold in 1.16 Mt Inferred.

On Aug 7, 2019 the company released News

Pure Gold Secures US$90 Million Construction Finance Package And Announces Construction Decision For Madsen Red Lake Mine

Pure Gold Mining Inc. is pleased to announce closing of a US$90 million project financing package with Sprott Resource Lending Corp. The Financing will fully fund the costs to develop an underground mine at Pure Gold’s Madsen Gold Project. The Financing is comprised of a credit facility for US$65 million, and a US$25 million callable gold stream.

Gold Mining in Sudan - terra incognita

2019-07-22T11:36:00.000-07:00

Despite its political instability, Sudan and South Sudan’s geology hosts high quality gold deposits.

The Blue Nile and the White Nile join forces at Khartoum. It slowly makes its way through the ancient Kingdom of Kush, before releasing Sahara sediment into the Mediterranean. From the confluence at Khartoum, the river is known as the Nile.

The gold deposits in Sudan look impressive; however, the issue will always be about risk. The fact not enough modern exploration has been undertaken in Sudan, and specifically South Sudan, is why the area is attractive.

South Sudan is considered terra incognita with regard to its economic geology, and infrastructure doesn't exist. A high risk region like Sudan demands a significant premium with higher returns and a shorter investment period.

Despite Sudan’s potential, there is an absence of large exploration projects and operating mining companies. Apart from small and artisanal mining in the south, no other mines are operating in the region. In the north, closer to Khartoum, the government owned Ariab Mining Company (AMC) has been operating the Derudeb and Hassai mines for more than two decades.

Sudan is not only blessed with gold. Beryl is found in the pegmatite of the Bayuda desert in central Sudan and chromite occurs in the Ingessana Hills. Copper with grades of 4.1% was mined 200 years ago in the Hofrat En Nahas deposit, while iron (Fe) deposits are located in the area of Jebel Abu Tulu.

Two years ago over 100,000 people fled a battle over a gold mine between two Arab communities in Sudan's Darfur region. The fighting broke out in the Jebel Amir gold mining area.

The fight was between the Beni Hussein, who are largely cattle herders, and the northern Rizeigat, a powerful tribe known for its camel herding. Scores of people were killed and dozens of villages burned. Members of the Beni Hussein tribe accused government forces of helping the Rizeigat.

Sudan expects to produce 50 tonnes of gold this year, earning $2.5 billion. The country is seeking to offset the loss of most oil reserves when South Sudan became independent.

Sudan is boosting production of gold and other minerals to gain new sources of state income and of foreign currency needed to fund imports. Output of 50 tonnes could potentially make it Africa's third largest gold miner behind South Africa and Ghana, and push it into the top 15 producers globally.

Sudan is among Africa's poorest countries, but is sitting on top of perhaps the largest gold reserves in the continent, according to a recent survey by Arab League's Arab Industrial Development and Mining Organization (AIDMO).

K92 Mining Inc. - KNT.v

2019-07-19T11:28:00.001-07:00

K92 Mining Inc. - KNT.v has commenced gold production from the Kora Gold Deposit (via mining at the Kora Northern Extension), which is part of the company’s Kainantu Gold Project located in the Eastern Highlands province of Papua New Guinea.

On July 17, 2019 the company released News

K92 Mining Inc. is pleased to announce that K92 and Barrick Gold Corporation, through its wholly-owned subsidiary, have entered into an amendment agreement amending the share sale agreement dated June 11, 2014. Under the amended terms, K92 will provide Barrick with a cash payment of US$12,500,000 within 60 days from the date of the Amendment Agreement, to eliminate the contingent payment arrangement under the terms of the Original Agreement which continued until March 6, 2025.