Oakridge Global Energy Solutions (OTCMKTS:OGES) announced a major success at the Orlando PGA Merchandise Show, one of the biggest annual golf industry conventions in the world.

As quoted in the press release:

Directly at the show, Oakridge received more than $250,000 USD of immediate booked orders and follow on commitments of more than $20,575,000 USD. The state-of-the-art, “Made in USA”, Oakridge Pro-Series Lithium Ion Golf Car battery systems are based on a proprietary design of electro-chemistry, safety, and electronics which results in cost effective, high performance lithium power now being available from a US manufacturer for the golfing industry.

By utilizing the Oakridge proprietary battery management system, golf car and local electric vehicle users of the revolutionary Pro-Series battery systems can now utilize their smart device such as phone, tablet, watch, or laptop, to monitor the capacity, range, speed, and health of their battery powered system. This provides the user with the information power to go along with the battery power to more fully enjoy their round of golf or their local area electric vehicles.

Using fully electric golf cars and local area electric vehicles allows less dependence on foreign oil; provides a much more enjoyable and quiet round of golf; and has none of the noise and emissions associated with combustion engines. By utilizing US made lithium batteries, Oakridge directly plays a role in reducing our imports and dependence on Chinese batteries and foreign oil, and instead of outsourcing jobs to offshore, Oakridge is leading the charge to on-shore jobs back to the US. With Oakridge Pro-Series battery systems the user can enjoy a green system with low carbon foot print while helping to put America back to work, all at a competitive price.

Oakridge Global Energy Solutions Executive Chairman and CEO, Steve Barber, stated:

he Pro Series golf and local electric vehicle batteries continue to be an absolute game changer for the golf and local area EV markets. We have spent the past 18 months refining and finalizing this product and are excited to announce that we are beginning production shipments in March. We at Oakridge are continuing our mission to onshore manufacturing back to the US and will continue to introduce new and exciting products. As avid golfers, our team at Oakridge is very excited to be shipping this product into the golfing market and the reception by our customers has been tremendous.

We are all about game-changing technology and products at Oakridge. Oakridge is THE ‘Made In The USA’ battery company that has the talent and technology to develop and produce these types of products for our customers in designing state-of-the-art high performance customer oriented battery systems. With our Pro Series battery systems, we have now greatly expanded the effective daily range of the golf car and small local electric vehicle, making them a practical reality for immediate application to all aspects of the golfing industry and golfing communities, while at the same time providing a much safer, low maintenance, zero emissions vehicle by virtue of the more robust chemistry and the battery management systems we have designed for this product.

Connect with Oakridge Global Energy Solutions (OTCMKTS:OGES) to receive an Investor Presentation.

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UEX Corp. (TSX:UEX) announced that it’s started exploration drilling at its Christie Lake project. The company plans to complete a $2.75-million drill program there that will consist of 10,000 meters across 13 to 18 holes.

The program will focus on expanding the known Paul Bay and Ken Pen uranium deposits, and should be finished by late July or early August 2016.

As quoted in the press release:

Both the Paul Bay and Ken Pen uranium deposits occur at and just below the unconformity within a relatively shallow basement fault structure. Down-dip continuations of these deposits following the new basement-hosted uranium deposit models had not been tested when all exploration activities were suspended 18 years ago, long before basement-hosted deposit settings were well understood. UEX recently completed a new three-dimensional model of the deposits that strongly suggest down-dip exploration potential.

Roger Lemaitre, president and CEO of UEX, commented:

The UEX exploration team has been hard at work since the signing of the LOI in October evaluating and uncovering the geological secrets of Christie Lake. The new 3-D modeling work reveals that the two deposits appear to be wide open for expansion. Rarely does a company have the opportunity to start a first exploration campaign with such compelling untested targets. I am eagerly awaiting the results of our first drill holes down-dip of the Ken Pen Deposit.

Click here to read the full UEX Corp. (TSX:UEX) press release.

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Rare Earth Minerals Plc (LSE:REM) has raised gross proceeds of GBP3.55 million, or US$4.93 million in a placement to US institutional investors. Proceeds will be used to fund additional acquisitions in the lithium sector.

Rare Earth Minerals is currently partnered with Bacanora Minerals (TSXV:BCN) for its Sonora lithium project in Mexico.

As quoted in the press release:

In addition, each two New Shares has one warrant attached with the right to subscribe for one new ordinary share at a price of 0.8 pence per shares for a period of 2 years from 11 March 2016.

The proceeds of the fundraising will be used primarily to fund or increase our economic interest in our existing investments, all of which are anticipated to make significant progress during this calendar year. In addition, the Company is reviewing additional investments in the fast growing lithium sector.

The Company has applied for the admission of the New Shares to trading on AIM and such trading is expected to take place on or around 3 March 2016 (“Admission”). Following Admission, the Company’s issued share capital will consist of 7,461,273,165 Ordinary Shares with no Ordinary Shares held in treasury. Therefore the above figure of 7,461,273,165 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in Rare Earth Minerals under the FCA’s Disclosure and Transparency Rules.

Click here for the full press release.

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Notably, even those who see further falls in the gold price believe that ultimately the metal’s future looks bright. In another article, MarketWatch quotes Michael Armbruster of Altavest as saying that while gold may yet fall back to the $1,180 mark, he “think[s] gold has made a significant bottom and that the longer-term trend has turned up. In other words … a pullback to $1,180 [could be] a buying opportunity.”

For its part, the silver price took a bit of a fall this week as well. While it remained comfortably above $15 per ounce last week and for much of this week, on Friday it took a fairly steep drop. As of 1:00 p.m. EST that day the white metal was trading at just $14.64.

On the base metals side, copper has also had a tougher time this week than it did last week. While three-month LME copper hit its highest point in about two weeks last Friday, midway through this week the metal was suffering a little — according to The Wall Street Journal, COMEX copper for March delivery closed down 0.5 percent, at $2.096 per pound, on Wednesday.

Finally, while oil prices saw strong gains early Friday, those increases were not to last. CNBC states that as of 2:01 p.m. EST on Friday, Brent crude futures were sitting at $35.24 per barrel, down from an earlier high of $37; similarly, US West Texas Intermediate crude futures were down at $33.03 after reaching $34.69.

Oil’s earlier gains came on the back of news of supply disruptions in Iran and Nigeria — pipeline outages in those countries have reportedly removed over 800,000 barrels of crude oil a day from the market for at least the next two weeks.

LOS ANDES COPPER DRILL HOLES CONFIRM THE PRESENCE OF HIGHER GRADE MINERALIZATION IN PROJECT CORE

Get the details here!

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

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Ashburton Ventures (TSXV:ABR) has acquired additional landholdings in Clayton Valley, Nevada, contiguous to its existing claims that border properties held by Pure Energy Minerals (TSXV:PE) and Lithium X (TSXV:LIX).

As quoted in the press release, Michael England, CEO of Ashburton Ventures, said:

We are very pleased to be able to acquire additional acreage in Clayton Valley. Our project is now completely enclosed by Lithium-X and Pure Energy putting ABR in the forefront of all the junior companies in Clayton Valley in our minds. We are looking forward to continuing work on our property based on the successful assays recently attained from the sampling (see news dated Feb 22, 2016). Ashburton is the closest company to the current Pure drill program being approximately only 800 meters from the successful Pure CV-6 hole therefore providing ABR with tremendous leverage to additional successful drilling by Pure. – See more at: http://www.thenewswire.ca/archives?tnwcatalyst2=release_id%3D18552#sthash.IhklzKr9.dpuf

Click here for the full press release.

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ALX Uranium Corp. (TSXV:AL,OTCQX:ALXEF) announced that it’s entered into a purchase and sale agreement with Cameco Corp. (TSX:CCO,NYSE:CCJ) regarding 27 mineral claims that are peripheral to, and along the margins of, ALX’s Athabasca Basin-based Hook-Carter property.

As quoted in the press release:

The Hook-Carter Property is located within the PLS camp. The property covers parts of the northeastern end of the Derksen, Carter and Patterson Lake conductor trends, which host numerous uranium showings, deposits and recent discoveries, including the Triple R deposit (Patterson Lake South), and the Arrow and Spitfire discoveries.

As shown on “Map 1”, the sale is comprised mostly of claims isolated from the main contiguous block of ALX’s Hook-Carter Property. It also includes a small, northeastern portion of the main block, covering ground with depths to the unconformity much deeper than the main parts of the property where ALX intends to focus its exploration. The isolated claims are within (contiguous with) Cameco’s claims adjacent to ALX’s property. The purchased claims cover a total of 7,064 hectares; ALX still retains a total of 16,461 hectares within its Hook-Carter Property after the sale (See “Map 2”).

There are several drill-ready targets on the Hook-Carter Property based on both historic exploration, and exploration completed more recently by ALX. The Company is evaluating exploration plans to be carried out later this winter on the property, to potentially include surface exploration (geophysics) on the Carter trend and diamond drilling on the highest priority target on the Derksen trend.

Click here to read the full ALX Uranium Corp. (TSXV:AL,OTCQX:ALXEF) press release.

Plateau Uranium Inc. (TSXV:PLU) has successfully consolidated all known uranium resources on the Macusani Plateau in Puno, Peru, solidifying a dominant position in one of the largest undeveloped uranium districts in the world. Connect with Plateau Uranium to receive instant updates.

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Oakridge Global Energy Solutions (OTCMKTS:OGES) announce that IST Co. Ltd in Tokyo, Japan has joined Oakridge as battery technology consultants to ensure that Oakridge remains technologically state-of-the-art.

As quoted in the press release:

IST Co., Ltd. in Japan has a broad relationship with Electric Power companies, Energy companies, and Energy Technology companies including, but not limited to, all major Japanese lithium ion battery and material companies. These companies have developed materials and products for the next generation of lithium ion batteries. IST also has a broad relationship with University and Research organizations worldwide such as Tokyo Institute of Technology, Eidgenössische Technische Hochschule, Zürich. IST will help to provide Oakridge with ongoing access to joint technology development opportunities for next generation rechargeable lithium batteries such as lithium air, lithium–sulfur, nano-silicone, and graphene negative electrodes in addition to assisting in the commercialization of the Thin Film Solid State lithium battery technology which Oakridge has already successfully developed.

The IST team joins the current Oakridge Global Energy Solutions advising team in Japan helping Oakridge establish a significant presence in Japan by way of collaboration with major Japanese technical universities and other research facilities, materials suppliers, and state-of-the-art lithium ion manufacturing equipment suppliers. Oakridge will use its previously established subsidiary in Hong Kong for these purposes.

Oakridge Global Energy Solutions Executive Chairman and CEO, Steve Barber, stated:

We at Oakridge regard our relationship with Japan as highly important because of its technical prowess and also because it is a very strong ally to the United States and Australia which will be vitally important in the increasingly tumultuous international geopolitical situation.

We are excited to be working with the high caliber of people and companies that we have had the pleasure to meet in the Japanese lithium ion battery market. Our goal is to continue to provide cutting edge technology, the highest quality and reliability, and affordable pricing to our customers. Having quality advisors and consultants like IST and its team enhance our ability to maintain our high standards of technological advancement and demonstrates our commitment to continuing innovate and improve Oakridge’s product offerings so as to provide our customers with the latest technology in high power battery and portable energy systems.

We are all about latest technology and products at Oakridge. Oakridge is the battery company that has the talent and technology to overcome the competition in the design and manufacturing of high performance battery systems. With IST complementing the existing Oakridge advising team in Japan we have now greatly expanded our presence and relationship with Japan, while at the same time providing a much higher quality of equipment and raw materials for building our battery systems.

Connect with Oakridge Global Energy Solutions (OTCMKTS:OGES) to receive an Investor Presentation.

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2015 was a tough year for the mining space, and while 2016 is shaping up to be at least a little better, many investors are still wondering how to find the best mining companies to invest in.

One place to consider looking is the TSX Venture Exchange’s TSX Venture 50 list. Released annually, it ranks the exchange’s strongest performers across five sectors: cleantech, diversified industries, oil and gas, technology and life sciences and, of course, mining. Companies are chosen based on three equally weighted criteria: market cap growth, share price appreciation and trading volume. According to the exchange, the companies on this year’s list collectively delivered a return of 72 percent in 2015.

For investors trying to find the best mining companies to invest in, these companies may be a good place to start. Read on to learn which mining companies made it onto this year’s TSX Venture 50 list, and to get a brief overview of what they’re currently up to.

1. Pure Energy Minerals (TSXV:PE)

Pure Energy Minerals is focused on its Nevada-based Clayton Valley lithium brine project, and is best known for its conditional deal to supply Tesla Motors (NASDAQ:TSLA) with lithium for its lithium-ion battery gigafactory. Aside from joint venture partners Bacanora Minerals (TSXV:BCN,LSE:BCN) and Rare Earth Minerals (LSE:REM), Pure Energy is the only lithium company to have secured such an agreement.

The company signed its deal with Tesla in September 2015, and since then has continued to work hard at Clayton Valley. Most recently, it completed the fifth well at the project, exceeding the target depth.

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2. Nemaska Lithium (TSXV:NMX)

As its name suggests, Nemaska Lithium is also a lithium company. And like Pure Energy, Nemaska has its sights set on the lithium-ion battery market. It’s currently developing its Quebec-based Whabouchi lithium project, and ultimately plans to produce spodumene concentrate there, then transform that material into high-purity lithium hydroxide and lithium carbonate that it can sell to lithium-ion battery producers.

Earlier this month, the company released an update on the construction of its Phase 1 lithium hydroxide plant. Construction is expected to start this quarter and finish in Q4 2016; the plant is slated to produce 500 tonnes per year of high-purity lithium hydroxide.

3. NexGen Energy (TSXV:NXE)

Uranium exploration and development company NexGen Energy has a portfolio of projects across Saskatchewan’s Athabasca Basin. Its key focus is the Arrow zone, located at its Rook 1 project. Rook 1 also hosts the Bow discovery, which is 3.7 kilometers northeast of Arrow.

NexGen completed a lot of work at Arrow in 2014 and 2015, and so far has kept it up into 2016. Its most recent results from the zone came this week — the company reported that it’s extended Arrow’s strike length to 670 meters. Earlier in February, NexGen drilled its most intense mineralization to date at Arrow.

4. Integra Gold (TSXV:ICG)

Integra Gold’s main asset is its Quebec-based Lamaque South project, which has two primary targets: the Parallel zone and the Triangle zone. In addition to Lamaque South, the company holds the fully permitted Sigma mill and tailings facility, located just 1 kilometer from Parallel and 3 kilometers from Triangle. At the moment, Integra is in the midst of releasing assay results from fall 2015/winter 2016 drilling at Triangle.

5. Arena Minerals (TSXV:AN)

Arena Minerals describes itself as a prospect generator, and at the moment it has two properties under option in Chile. Its flagship project is the Atacama copper project, and its other project is Pampas El Penon. Commenting on Arena’s inclusion on this year’s TSX Venture 50 list, President and CEO William Randall said that among other things, the company’s 2015 achievements include signing three joint venture agreements.

Graphite is one of the hottest sectors in the resource space today, and has sparked investor interest and an exploration boom. Some of the most critical factors that have pushed the metal to the fore include the ongoing shift toward alternative energy and the issue of Chinese supply. Connect with our Featured Graphite Stocks to receive the latest news and investor presentations.

6. Elcora Advanced Materials (TSXV:ERA)

Elcora Advanced Materials, formerly Elcora Resources, is looking to become a vertically integrated graphite and graphene company that mines, processes and refines graphite, and produces both graphene and applications for graphene. The company is currently producing graphite at the Ragedara mine in Sri Lanka, and recently completed its processing facility.

In recent weeks, Elcora has begun construction of its graphene production facility, and, along with its joint venture partner Sakura Graphite, has entered into a 10-year exclusive distribution agreement with Thyssenkrupp Metallurgical Products.

7. Gold Standard Ventures (TSXV:GSV,NYSEMKT:GSV)

Advanced-stage gold exploration company Gold Standard Ventures is focused on district-scale discoveries at the Railroad-Pinion gold project, located in the Nevada-based Carlin Trend. According to the company, Railroad-Pinion is adjacent to Newmont Mining’s (NYSE:NEM) Rain and Emigrant mines, and “encompasses a unique target-rich district which still remains predominantly untested.”

This week, Gold Standard announced 2016 exploration plans for Railroad-Pinion, commenting that a US$13.4-million exploration program is in the works. It will cover about 43,000 meters across 100 holes, with the majority of work being completed at the Dark Star and Pinion oxide gold deposits.

8. Canada Carbon (TSXV:CCB)

Canada Carbon is a graphite exploration company whose current focus is its Quebec-based Miller hydrothermal lump/vein graphite project. The graphite at the project is very high in carbon content, and requires only limited upgrading to reach carbon purity levels of 99 percent and above. As the company has explained, a key benefit of having very high-purity graphite is that “there are numerous potential applications because the product is lower cost than synthetic graphite.”

In December, the company said a preliminary economic assessment for Miller is in the works, among other things.

9. Viscount Mining (TSXV:VML)

Like Arena Minerals, Viscount Mining bills itself as a prospect generator, though instead of Chile it’s looking to build a portfolio of high-quality exploration projects in the US. Its flagship project is the Nevada-based Cherry Creek project, which is made up of over 400 unpatented and patented claims, as well as mill rights. It also holds the Silver Cliff project, which consists of 96 lode claims.

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The company has been fairly quiet so far in 2016, but did announce assay results from Phase 1 drilling at Cherry Creek earlier this month. According to the company, “[m]oderate to high grade silver mineralization was intercepted in many of the holes.” Work at Cherry Creek is being conducted by Summit Mining Exploration, a subsidiary of Sumitomo (TSE:8053).

10. Roxgold (TSXV:ROG)

Roxgold is a gold exploration and development company whose key asset is the Burkina Faso-based Yaramoko gold project. The company is advancing the 55 zone at the project through construction and expects to start production there in Q2 2016. Roxgold’s most recent news came earlier this month, when it announced a $20-million bought-deal financing.

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: Canada Carbon and Nemaska Lithium are clients of the Investing News Network. This article is not paid-for content.

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2014 TSX Venture 50: Highlighting Opportunity in Mining

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A recent US Energy Information Agency (EIA) report highlighted that for 2015, US uranium production dropped to its lowest in ten years. Similarly, the agency also highlighted that fourth quarter production was the lowest since 2002.

EIA figures show that for the fourth quarter of 2015, the US produced 585,048 pounds of U3O8, which was a notable 24 percent lower than the previous quarter, and an even more significant 46 percent lower than the same period in 2014. In fact, looking between the first quarter and the final quarter of 2015, there was a 49 percent drop in production.

Four fewer production centers were in operation at the end of 2015, which included Cameco’s (TSX:CCO) Nebraska Crow Butte operation and its Wyoming-based Smith Ranch-Highland. Also based in Wyoming are Ur-Energy’s (TSX:URE) Lost Creek and Energy Fuels‘ (TSX:EFR) Nichols Ranch. The operations are all in-situ leach operations.

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The Agency also noted that Strata Energy’s Ross central processing plant located in Wyoming became operational, however it was not producing in the fourth quarter of last year. Furthermore, there were three facilities that did not contribute to production in the fourth quarter compared to the third, White Mesa in Utah, Hobson ISR plant/La Palangana in Texas and the Willow Creek Project in Wyoming.

US uranium production

US uranium production in 2015

Looking at the year as a whole, US uranium concentrate production reached a total of 3,303,977 pounds of U3O8 in 2015. Compared to 2014, this figure is 32 percent less than the 4,891,1332 pounds produced. It is also the lowest production in the US since 2005. The Agency noted that the 2015 production figures represent 7 percent of the anticipated uranium requirements needed for the US civilian nuclear power reactors.

Are uranium prices to blame?

One of the main factors the EIA is attributing to the slump in production for the year is the “continued low market price of uranium.” And rightly so.

Since the 2011 Fukushima disaster, uranium prices have been struggling to maintain any significant gains. U3O8 spot prices are currently trading at $33.50, roughly a 40 percent lower than in March of 2011.

Earlier in February, Cameco CEO Tim Gitzel warned that a recovery to the slumping industry was not as imminent as the market would hope. “We’re still waiting on a recovery that has been expected to come sooner,” Tim Gitzel said on a company conference call.

Still, as while prices remain low, removing further production incentives, the market will soon run into the situation —as predicted by analyst and market watchers alike — that there will be a supply shortfall. When this happens, investors will see a sharp increase in prices, which will bring incentive to produce back into the market.

“Long-term, we know good things are in store.” Gitzel said.

Securities Disclosure: I, Vivien Diniz, hold no investment interest in any of the companies mentioned.

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Eureka Resources Inc. (TSXV:EUK) and its joint venture partner, Nevada Sunrise Gold Corporation (TSXV:NEV) are pleased to announce that the companies have received the preliminary results from a time-domain electromagnetic survey carried out on the Gemini Lithium Project in Lida Valley, Nevada.

As quoted in the press release:

A reconnaissance moving-loop TDEM survey over Gemini West and Gemini East has detected conductive zones within the sub-basins defined by recent gravity surveys. The results gained from the TDEM survey are interpreted to be conductive brines at depth located well below the non-conductive alluvium (sediments) at surface.
A conductive layer 150–250 metres deep appears to cover most of Gemini West and Gemini East, and several isolated strong conductive zones were interpreted at depths from 400 to 600 metres. The conductive layers and zones are indicative of brine solutions in porous aquifers and traps within each sub-basin.

Eureka Resources President, Michael Sweatman, stated:

We are pleased that the ground survey has detected conductive layers coincident to the gravity lows that were previously located. Gemini appears to be a hidden gem and the next step is to drill into the conductive zones to determine the extent and lithium content of the interpreted brines

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Peninsula Energy (ASX:PEN) announced results from further radiometric re- logging of existing drill holes completed during December 2015 to February 2016 at the Rietkuil project area, approximately 40 km west of Beaufort West at Peninsula’s Karoo Projects in South Africa.

As quoted in the press release:

Highlights:

High grade near surface intercepts from radiometric re-logging of UCEX drill holes in new southern block of Rietkuil project area

Significant intercepts include

9.5 ft @ 2,408 ppm eU3O8 from 37.9 ft

8.9 ft @ 2,422 ppm eU3O8 from 27.6 ft

6.6 ft @ 2,800 ppm eU3O8 from 47.4 ft

4.1 ft @ 3,896 ppm eU3O8 from 38.7 ft

3.9 ft @ 5,453 ppm eU3O8 from 33.0 ft

Intercepts will be used in JORC Code-compliant resources update

Results from all blocks investigated to date have demonstrated very high grade mineralisation at shallow depths with a further 124 significant intersections returned from 170 historic holes at Block A-Ext during December 2015 to February 2016. Overall 227 significant intersections have now been returned from a total of 481 re-logged holes since mid-2014.

170 UCEX holes were successfully radiometrically re-logged at Block A-Ext during December 2015 to February 2016 from which 124 significant mineralised intersections (> 200 ppm eU3O8) were obtained at near-surface depths ranging from 27.56 feet to 62.50 feet below surface. Block A-Ext is the largest block of the Rietkuil project area. Only 30% of the targeted historic holes in Block A-Ext have been re-probed so far. Re-probing activity is planned to continue for the next 2 to 3 months in this block.

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CanAlaska Uranium (TSXV:CVV) has entered into an option agreement with Cameco (TSX:CCO), one of the world’s largest uranium producers, for its West McArthur project. Under the terms of the agreement, Cameco must spend roughly $12.5 million in exploration expenditures for up to a 60 percent interest in the project.

As quoted in the press release:

To earn a 60% interest in West McArthur, Cameco will pay CanAlaska an initial $725,000 to have the right to earn a first stage 30% interest for a $5 million exploration program within 3 years on two separate target areas: Grid 1 and Grid 5. Cameco will then have the right, after a $500,000 payment, to carry out a further $6.275 million of work on the Project over the following 3 years to earn a further 30% interest and form a Joint Venture (JV) with CanAlaska. A guaranteed minimum $1 million work program is required in the first year and permitting and planning for a 2016 drill program is underway.

The West McArthur Uranium Project covers 35,830 hectares (88,536 acres) commencing 15 kilometres (9 miles) west of Cameco’s majority owned McArthur River uranium mine. Importantly, the Project is immediately adjacent to Cameco’s recently disclosed Fox Lake uranium discovery with reported inferred resources of approximately 68.1 million lbs based on 387,000 tonnes at 7.99% U3O8. The Fox lake discovery is within the Read Lake project operated by Cameco (Cameco 78.2%, Areva 21.8%).

Click here for the full press release.

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Galaxy Resources Limited (ASX:GXY) announced that it has commenced diamond drilling of the near production Mt Cattlin lithium-tantalum deposit, located 1km to the northwest of Ravensthorpe, in the Great Southern region of Western Australia.

As quoted in the press release:

The current drill program is designed to follow up on intersections of spodumene-bearing pegmatite encountered in very sparse drilling (undertaken in 2008 by project partner Galaxy Resources Limited, ASX:GXY) underneath the known pegmatite occurrence, and to test for potential gold and gold-copper mineralisation in the Archean greenstones which host the Mt Cattlin pegmatite.

The immediate geological environment hosts other local gold, gold- copper and copper occurrences, including the Lady Jessie workings within the Dowling Pit which contains much of the current lithium resource. Previous drilling was almost exclusively vertical and not analysed for gold or copper.

Drilling has commenced and is continuing on a double shift basis. The hole is nominally designed to 600m depth, drilled at an azimuth of 200⁰, inclined at 60⁰ and is considered important to test various flat-lying stratigraphic horizons (below the depths tested in 2008 of approximately ~200mbs) indicated by reflectors in seismic work conducted during 2010-11.

Drilling will also determine optimal depths for future infill and extensional drilling of the lithium-tantalum resource within the main pegmatite. A second similar depth hole is proposed to the north east of the current location, also collared within the current pit. The location of additional deep holes is contingent on outcomes from these holes.

Galaxy Resources General Mining Executive Chairman, Michael Fotios, stated:

These two stratigraphic drill holes will add considerably to our understanding of the deeper system below the main pegmatite, and help inform any future campaigns aimed at expanding the size of the Mt Cattlin Project.

Connect with Galaxy Resources Limited (ASX:GXY) to receive an Investor Presentation.

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Nevada Sunrise Gold Corporation (TSXV:NEV) announced it has closed its previously announced non-brokered private placement for gross proceeds of $203,400 consisting of the sale of 1.13 million units at a price of 18 cents per unit with each unit consisting of one common share of the company and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase an additional common share at an exercise price of 30 cents per warrant share until Feb. 24, 2018.

Proceeds from the offering will be used to finance the exploration of the company’s Nevada gold and lithium exploration properties and as general working capital.

Connect with Nevada Sunrise Gold Corporation (TSXV:NEV) to receive an Investor Presentation.

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CBC News reported that Enbridge’s (TSX:ENB) gas business in New Brunswick has had to start offering money to commercial customers in order to keep them from switching to cheaper propane retailers.

As quoted in the publication:

In New Brunswick, smaller commercial businesses pay the highest distribution rates for natural gas in the province — currently more than double what residential users pay.

That, plus the price of the gas itself, has made using natural gas less and less attractive for commercial customers in New Brunswick as propane prices have fallen.

Click here for the full article.

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Oil prices gained back ground at midday on Wednesday following Tuesday’s drop, Reuters reported. Prices fell on Tuesday after Saudi Oil Minister Ali al-Naimi dashed hopes that the country would cut production.

As quoted in the publication:

John Kilduff, founding partner at Again Capital, said crude seemed to be bouncing off a technical level just below $31 and drawing support from a mixed bag of U.S. data that showed strong gasoline demand.

Oil futures slightly pared losses in mid-morning trade after government data showed a much smaller build in U.S. crude inventories than an earlier industry report suggested.

U.S. crude stocks rose last week while gasoline inventories fell for the first time since November, data from the Energy Information Administration showed on Wednesday.

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The Wall Street Journal reported that natural gas prices hit a new two-month low on Wednesday due to continued oversupply.

As quoted in the publication:

Futures for March delivery recently fell 0.9 cent, or 0.5%, to $1.773 a million British thermal units on the New York Mercantile Exchange, the lowest level since December. Prices are less than 2 cents above the 16-year settlement low reached in December.

The natural-gas market is oversupplied due to continued robust production and mediocre consumption, as the El Nino weather phenomenon has kept temperatures warmer than normal in the eastern U.S. this winter and subdued demand for natural gas as an indoor-heating fuel. As of Feb. 12, natural-gas stockpiles stood 26% above the five-year average for this time of year, according to the Energy Information Administration.

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Oakridge Global Energy Solutions (OTCMKTS:OGES) announce that it will be supplying batteries to Freedom Trucking in Minnesota.

As quoted in the press release:

Freedom Trucking has developed a fully electric interstate truck propulsion system that will immediately enable interstate trucks with a gross vehicle weight of 80,000 pounds to travel more than 400 miles. By utilizing a proprietary logistical system, powered by specially designed Oakridge battery systems, Freedom Trucking can now begin to utilize its revolutionary fully electric interstate trucks in the interstate logistics industry to move product from Chicago to Minneapolis on a daily basis commencing in the last half of 2016.

Using fully electric trucks to move this cargo will save each truck in excess of $0.60 per mile over traditional diesel fuel according to initial analysis for Freedom Trucking by the US Department of Transportation, which will completely revolutionize the economics of the interstate trucking business in the USA, by saving on fuel costs, maintenance costs, and weight.

Freedom Trucking has been working on the design of the propulsion system with Ohio State University scientists and others for the past five years. This product has been hampered by poor quality Chinese batteries, but is now ready for full scale production in 2016 with high quality, “Made in USA” Oakridge battery systems.

Oakridge Global Energy Solutions Executive Chairman and CEO, Steve Barber, stated:

The custom battery design for Freedom Trucking is an absolute game changer. We are excited to be working with Freedom Trucking and their team on such a revolutionary product. We at Oakridge are continuing our mission to onshore manufacturing back to the US and this is a really big win for all of us. We are reducing carbon emissions, reducing our dependence on foreign oil, and bringing manufacturing back to the US, while at the same time playing a pivotal role in revolutionizing the interstate trucking business. This is a tremendous win for everyone in the USA.

We are all about game-changing technology and products at Oakridge. Oakridge is THE “Made In The USA” battery company that has the talent and technology to overcome these types of obstacles for our customers in designing state-of-the-art high performance custom battery systems. With our new custom battery systems, we have now greatly expanded the effective range of the electric truck, now making them a practical reality for immediate application to the interstate trucking business, while at the same time providing a much safer, low maintenance vehicle by virtue of the more robust chemistry and the battery management systems we have designed for this product.

Connect with Oakridge Global Energy Solutions (OTCMKTS:OGES) to receive an Investor Presentation.

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At a time when industry heavyweight Cameco (TSX:CCO,NYSE:CCJ) continues to disappoint with lower earnings, uranium success stories are seemingly too few. But for newly minted uranium producer Peninsula Energy (ASX:PEN), the current uranium market isn’t such a tough place to be.

Peninsula started ISR mining at the Wyoming-based Lance project in December 2015. Lance has a JORC-compliant resource of 54 million pounds, and a licensed mining rate of 3 million pounds per year. The company is looking to ramp up to 3 million pounds over a three-phase process.

“We’ve got everything running to our expectations,” Peninsula Managing Director John “Gus” Simpson told the Investing News Network, adding that to date, Lance has exceeded by multiples what was initially forecast.

More specifically, Simpson noted that “the waterflow rates are exceptional,” and said that the project’s best-performing production well is delivering 96 milligrams per liter, which is “about three times the average number that was used in financial models.”

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Peninsula has also just completed construction on his header house, and, as Simpson noted, the central processing plant has been operating to specifications without a hitch.

“The capture rate of uranium has risen twice what we forecast,” Simpson said, noting that the project’s deep disposal wells are also operating exceptionally — so much so that the company has been able to pare down the expected number of disposal wells required for the Lance project from four to two.

When it comes to costs, Lance greatly benefits from its ISR capabilities. The project has life-of-mine all-in sustaining cash costs of $29, and that partially explains why, despite lower prices, the company has been seeing success. However, Simpson said that what’s more important is the company’s contracted revenue, which comes in at $59.

“The reality is that production has come about for us because we had contracted this material prior to getting into production,” he said, adding “that’s certainly been a significant contribution to our ability to attract the financing to get the development underway.”

Geographic diversity

While Lance may be Peninsula’s only producing asset currently, the company’s Karoo project in Africa is expected to be a significant production center in the future.

Karoo has a JORC-compliant resource of 57 million pounds and an official target size of 350 million pounds. However, that target size could be a little conservative considering that the project was explored in the 1970s by Esso Minerals, which estimated a target size of 450 to 600 million pounds.

Currently Karoo is in the prefeasibility stage, and Simpson noted that Peninsula is hoping to have a definitive feasibility study completed by the end of 2017. “The Karoo project in Africa provides geographical diversity,” he said, noting that the project provides the company with closer access to the supply chain in Western Europe, and in the United Arab Emirates.

“They are really near to South Africa,” Simpson said, “They would be a natural supplier to those locations.”

Nuclear power potential

In the US, about 55 million pounds of uranium are consumed per year by the nuclear sector. Surprisingly, about 51 million pounds of that is imported.

Simpson believes that now that Lance is producing, the company may be able to take advantage of US utilities’ uranium requirements. “I think American utilities will have a preference for US-sourced material,” he said.

Whether or not that prediction comes true, Simpson was clear that with Lance and Karoo, Peninsula is strategically positioned to make the best of the nuclear market. Overall, the company is currently looking at “contracting to North America and Western Europe,” the two biggest nuclear markets.

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His optimism stems in large part from the possibilities he sees in the nuclear sector. Simpson said that 430 nuclear power stations are currently in operation worldwide, with 70 new ones being built and a 160 in various phases of financing or development. That means the potential of the nuclear future is promising. He expects to see a lot more nuclear reactors come from China, India, the Middle East and Eastern Europe in particular.

He’s also positive about the outlook for uranium, and while he doesn’t see utilities spurring a bidding war, he does believe that as uranium demand grows, prices will move higher. “When we get into 2017, 2018 we will see an increase in demand that will increase prices,” he said, adding, “new supply that was marginal before will be economic.”

All in all, Simpson believes that investors can expect to see “uranium pricing strengthen over the next four to five years.” With Karoo in the in the works and Lance in operation, it will be interesting to see what Peninsula can accomplish in that time.

Securities Disclosure: I, Vivien Diniz, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

Peninsula Energy is a client of the Investing News Network. This article is not paid-for content

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NexGen Energy Ltd. (TSXV:NXE, OTCQX:NXGEF) announced results from five angled holes from our on-going 30,000 m winter 2016 drilling program on our 100% owned Rook I Property in the Athabasca Basin, Saskatchewan.

Highlights include:

A2 Shear:

AR-16-63c3 (18 m down-dip and southwest from AR-16-62) intersected 147.0 m of total composite mineralization including25.6 m of total composite off-scale radioactivity (10,000 – >61,000 cps) within a 197.5 m section (444.0 to 641.5 m) in the Sub-Zone.

AR-16-64c3 (20 m northeast of AR-15-44b) intersected 102.0 m of total composite mineralization including 21.25 m of total composite off-scale radioactivity (10,000 – >61,000 cps) within a 149.0 m section (465.0 to 614.0 m) in the Sub-Zone.

Table 1: Higher Grade A2 Sub-Zone Drill Hole Comparison

AR-15-
59c2²

AR-15-
54c1²

AR-15-
58c1²

AR-16-
63c1¹

AR-16-
63c3

AR-15-
62²

AR-16-
63c2¹

AR-15-
44b²

AR-16-
64c3

AR-16-
64c2¹

AR-16-
64c1¹

AR-15-
49c2²

AR-15-
57c3²

Total composite mineralization =

75.50 m

42.00 m

86.00 m

55.50 m

147.00 m

143.00 m

138.00 m

135.60 m

102.00 m

76.00 m

74.0 m

73.50 m

62.50 m

Total Off-scale (>10,000 to 29,999 cps)³ =

11.40 m

5.90 m

14.30 m

6.85 m

22.10 m

17.75 m

17.10 m

30.25 m

18.75 m

15.95 m

10.30 m

15.70 m

4.40 m

Total Off-scale (>30,000 to 60,999 cps)³ =

4.50 m

3.00 m

3.85 m

0.50 m

3.00 m

10.60 m

9.90 m

7.75 m

2.50 m

4.70 m

3.70 m

5.20 m

2.50 m

Total Off-scale (>61,000 cps)³ =

1.00 m

0.50 m

2.00 m

0.00 m

0.50 m

2.00 m

13.85 m

1.50 m

0.00 m

5.50 m

0.00 m

2.15 m

1.80 m

Continuous GT (Grade x Thickness) =

371

277

200 and

345

Assays

Pending

Assays Pending

787

Assays Pending

655

Assays Pending

Assays Pending

Assays Pending

605

319

¹ radioactivity results previously released

²radioactivity and assays results previously released

³minimum radioactivity using RS-120 gamma spectrometer

A3 Shear:

AR-16-59c6 (48 m down-dip and southwest of AR-15-61c2) intersected 28.15 m of total composite mineralization including2.85 m of total composite off-scale radioactivity (>10,000 to 54,000 cps) within a 64.0 m section (768.0 to 832.0 m) in the A3 shear.
AR-16-71 (58 m down-dip and southwest of AR-15-52) intersected 31.5 m of total composite mineralization including 0.8 m of total composite off-scale radioactivity (>10,000 to 25,000 cps) within a 113.0 m section (582.0 to 695.0 m) in the A3 shear.

Garrett Ainsworth, Vice-President, Exploration and Development, commented:

Drill holes AR-16-63c3 and -64c3 have significantly grown the higher grade A2 sub-zone with consistent high grade mineralization over wide intervals. Further testing within the A2 and A3 shears continues to show strong continuity through infill drilling, and substantial expansion from step out drilling.

Click here to view the full press release.

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World Nuclear News reported that production of uranium concentrate in the fourth quarter of the year, at 585,048 pounds U3O8 (225 tU), was down 24% from the third quarter and down 46% from the fourth quarter of 2014.

According to the source:

The quarterly production figure was the lowest since the fourth quarter of 2002. The EIA said that the 49% fall in production from the first quarter of 2015 – when over 1.15 million pounds U3O8 (442 tU) was produced – to the fourth quarter “may be attributed to the low market price of uranium”.

WNN reported that:

All of the fourth quarter’s production came from four in-situ leach operations: Crow Butte (Cameco) in Nebraska, and Lost Creek (Ur-Energy), Nichols Ranch (Energy Fuels) and Smith Ranch-Highland (Cameco), all in Wyoming. This was three fewer facilities than had produced uranium in the third quarter: Energy Fuels’ White Mesa conventional uranium mill in Utah, Uranium Energy Corp’s Hobson and La Palangana joint project in Texas, and Uranium One’s Willow Creek project in Wyoming did not produce in the fourth quarter of the year. Strata Energy’s Ross processing plant in Wyoming, under construction since 2014, became operational but did not produce during the fourth quarter.

Click here to view the full article.

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WellStar Energy Corp. (TSXV:WSE) announced a mechanical update to a NI 51-101 report that estimates reserves and future net revenues for the company’s Saskatchewan- and Alberta-based oil and gas properties. The original report was completed on August 31, 2015.

As quoted in the press release:

The Mechanical Update specifically addresses the Company’s McTaggart, SK property after WellStar’s acquisition of its joint venture partner’s interest in the project (see News Release dated December 21, 2015), and the positive changes in reserves and present worth.

The Mechanical Update estimates, as of September 1, 2015, total company gross proved reserves of 83.7 Mbbl (thousands of barrels) oil with an estimated undiscounted Net Present Value (NPV) of $3,751,200 which is a $1,255,800 (50.32%) increase compared to the Reserves Report.

In addition, the Mechanical Update indicated total company gross proved plus probable reserves at the Company’s McTaggart, SK property of 142.9 Mbbl oil with an estimated undiscounted NPV of $7,193,700 which is a $2,262,000 (45.87%) increase compared to the Reserves Report.

Andrew H. Rees, president of WellStar, commented:

The Company is very pleased that the acquisition of our JV partner’s interest in our flagship McTaggart, SK project, resulted in the dramatic increase in reserve values as demonstrated by the Mechanical Update of our NI51-101 Reserve Report. Management’s focus will now be on optimising production at McTaggart, building value for WellStar shareholders.

Click here to read the full WellStar Energy Corp. (TSXV:WSE) press release.

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Cypress Development (TSXV:CYP) reported results of sampling of surface claystones at its Clayton Valley lithium project in Nevada. The company is currently planning follow-up work at the project.

As quoted in the press release:

The assays from the systematic traverse samples average >1500 ppm Li and are accompanied by a typical suite of other evoporite rock mineralization, including one sample with >1% strontium.

The results suggest a strong possibility of an essentially continuously mineralized volume of claystone at surface on the Cypress property in a position immediately east of both brine production wells at Albemarle Silver Peak mine and the north resource area of Pure Energy Minerals project.

It is important to note that the geometry of the claystone bedding is not readily apparent at the sample sites due the presence of a ten to twenty cm thick weather crust which completely masks the bedding of the claystones. Traverses completed in other areas of the property and along the flanks of Angel Island have shown that the claystones are locally highly deformed. Larger-scale exposure of clean rock faces along the traverse will be required to help determine whether the samples are localized within discrete beds or are in fact of a robust, massive nature.

Cypress president and CEO, Don Huston, said:

We are pleased with the results of our initial surface work on the Glory claims of our Clayton Valley project when compared to nearby brine production grades. We are at an early stage with this project and much work remains to be done to investigate the subsurface where we expect to find ground water aquifers within deeper portions of the same mineralized claystone evaporate sequence that is currently being explored at surface. We are confident that the position of our property adjacent to production wells and defined resources combined with current surface assay results indicates that Cypress is well situated to create value for our shareholders as we advance the exploration of our claims.

Click here for the full press release.

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1. It is lighter than air

Natural gas, a mixture of methane and other naturally occurring gases, is lighter than air, and needs to be cooled to -260 degrees Fahrenheit before becoming liquid. Liquefied natural gas takes up significantly less volume, which is useful when transporting the fuel.

2. It has no smell

Natural gas is completely odorless. In order to allow for the detection of natural gas leaks, companies add the chemical mercaptan, which gives the gas the smell of rotten eggs.

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3. Natural gas and oil occur together

Both oil and natural gas are, of course, fossil fuels, and are formed via the same geological process. It isn’t surprising, then, that the two materials are often found together. Deposits that are more rich in natural gas are referred to as natural gas fields, while those more rich in oil are known as oil fields.

4. It’s used in manufacturing as well as fuel

In addition to being used as a fuel for power generation and for heating homes, natural gas is used to manufacture various products. According to the Interstate Natural Gas Association of America, natural gas is a key component in the production of ammonia. It’s also used to make various other products, from vinyl flooring and carpeting, to Aspirin and artificial limbs.

5. It can be used to power vehicles

Natural gas is growing in popularity as an alternative fuel for running vehicles. As Environmental Leader states, total sales of vehicles that run on natural gas are expected to top 35 million by 2025.

Natural gas is especially attractive as an alternative to diesel fuel for medium and heavy duty vehicles.

6. Natural gas fracking can cause earthquakes…

Scientists have long known that fracking operations can cause small earthquakes near drilling and extraction sites, and in 2014, Scientific American reported on a study that suggests wastewater injection could be responsible for much farther-reaching and more potentially devastating quakes.

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That said, scientists are still unsure about how exactly larger fracking quakes are caused, and about how to predict them. “There’s urgent scientific research right now which is focused on trying to find better ways to identify these features in advance,” David Eaton, a University of Calgary geophysicist, recently told The Canadian Press.

7. …and has been controversial for other reasons too

Of course, the potential for earthquakes caused by natural gas fracking is not the only reason that the process draws controversy. The process uses a number of industrial chemicals, and opponents fear the contamination of drinking water from these substances.

Furthermore, critics are against the amount of water used in fracking operations. The US Department of Energy notes that drilling and fracturing a horizontal shale gas well, for instance, usually requires anywhere from 2 to 4 million gallons of water. On the other hand, the department points out that this amount is small compared to what is used in other industries, such as agriculture.

8. However, it’s also known as a “clean” fuel

Despite being a fossil fuel, natural gas is often pegged as a “cleaner” fuel option than coal or oil. According to the EIA, the burning of natural gas for power emits fewer greenhouse gases and pollutants, since it burns more easily and contains fewer impurities than other fossil fuels. The EIA also notes that natural gas produces less carbon dioxide per equivalent amount of heat production.

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9. And despite prices being down, demand is growing

As mentioned above, natural gas is currently the most-used fuel for space heating in the US. It’s also growing in importance as a fuel for power generation, beating out coal as the top fuel for power generation in the US last April and July. Even with production growing at a rapid rate in the country (the US is expected to shift from being a net importer to a net exporter of natural gas in 2017), The Smart Investor argues that there will be plenty of growing demand abroad as well, which could eventually drop the pressure on the so-far oversupplied industry.

Certainly, that’s key to note for investors taking a look at natural gas companies.

10. Natural gas prices are tied to the weather

Finally, since natural gas is used extensively for heating homes, it’s worth noting that natural gas prices can rise or fall depending on the weather. For example, colder winters drive up natural gas demand for heating purposes, while unseasonably warm winters can have the opposite effect.

Of course, other factors, such as the price of oil and other competing fuel prices, can also affect natural gas prices.

Securities Disclosure: I, Teresa Matich, hold no investment interest in any of the securities mentioned in this article.

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The S&P/TSX Venture Composite index (INDEXTSI:JX) closed last week up 4.88 points, at 530.76 points.

The top-gaining resource stock on the TSXV last week was Musgrove Minerals (TSXV:MGS), and it was followed by Elcora Advanced Materials (TSXV:ERA), Lithium X Energy (TSXV:LIX), Gold Reserve (TSXV:GRZ) and Nicola Mining (TSXV:NIM). Here’s a brief overview of what influenced the share prices of those companies during the period.

Musgrove Minerals

As mentioned, Musgrove Minerals was last week’s top-rising stock in the resource space last week, jumping a whopping 200 percent to close Friday at $0.30.

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The company, which holds two projects in Idaho, announced on February 16 that it had closed a private placement of 12,310,000 common shares priced at $0.05 each for gross proceeds of $615,500. It didn’t release any other news that would explain the increase in its share price.

Elcora Advanced Materials

Last week, the company’s share price rose 69.23 percent to reach $0.66, though the company didn’t put out any news that would account for that increase. Most recently, Elcora said on February 10 that it’s begun construction of its graphene production facility.

Lithium X Energy

Lithium X Energy saw its share price increase by 36.99 percent last week to end Friday at $1. The company’s goal is to become a low-cost supplier to lithium-ion battery industry, and it recently acquired the option to earn a 100-percent stake in the Clayton Valley North project, located in Nevada’s Clayton Valley.

On February 16, it announced that it’s also signed an agreement to acquire the CVL lithium property, also known as the Clayton Valley South Expansion. According to Lithium X, it’s now the largest landholder in Clayton Valley.

Gold Reserve

Gold Reserve holds the Venezuela-based Brisas deposit, which it bills as one of the largest undeveloped copper-gold deposits in the world. However, in 2008, Venezuela revoked the company’s authorization to affect, and Gold Reserve lost the ability to exploit Brisas. The company entered international arbitration with Venezuela later in 2008, and in 2014 was awarded $740.3 million by the International Center for the Settlement of Investment Disputes; that amount has since risen to over $760 million.

Most recently, Gold Reserve reported on January 21 on legal proceedings related to the collection of the money it was awarded through that arbitration. Last week, the company did not release any news, but its share price nevertheless rose 34.46 percent to reach $5.58.

Nicola Mining

Finally, Nicola Mining’s share price rose 33.33 percent last week to hit $0.08. The company holds diverse operations, including a mill and tailings facility, two exploration properties and a gravel pit. Last week it did not put out any news that would explain the increase in its share price.

Data for 5 Top TSXV Stocks articles is retrieved each Friday after market close using The Globe and Mail’s market data filter. Only companies with a market capitalization greater than $10 million prior to the week’s gains are included. Companies within the mining and precious metals sectors are considered.

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

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The gold price is down from last week’s impressive high of $1,260.60 per ounce, but not by too much. As of 12:00 p.m. EST on Friday, it was changing hands at $1,230.75, and earlier this week touched $1,237.

According to Reuters, the yellow metal continues to be buoyed by “turmoil in the wider financial markets,” which is increasing gold’s appeal as a safe-haven asset, and also lowering expectations that the US Federal Reserve will further increase interest rates this year.

“Momentum is strong. [On Thursday] gold moved up even when the dollar was stronger, so for me that signals that it is mainly central bank-policy driven,” Georgette Boele, an analyst at ABN Amro told the news outlet. Meanwhile, Simon Weeks, head of precious metals at the Bank of Nova Scotia (TSX:BNS), said, “[a]s a safe haven, it is definitely coming into play again.”

Updated December 2015

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Unsurprisingly, the silver price largely followed the gold price this week. Though the white metal was off last week’s high of $15.88 per ounce, it was able to stay above $15, moving between $15.16 and $15.48.

On the base metals side, the copper price hit its highest point in about two weeks on Friday, as did nickel and zinc prices. As Reuters states in another article, those gains came on the back of “brighter prospects for Chinese demand and concern about the potential for looming shortages.”

All in all, three-month LME copper peaked at $4,631.50 per tonne on Friday, its highest point since February 9, before sinking slightly to $4,621. For the week as a whole, the metal gained 3 percent, and is doing much better than it was midway through January, when it hit a six-and-a-half-year low point.

Finally, while oil prices soared a whopping 7 percent on Wednesday after Iran said it supports Russia and Saudi Arabia’s move to stem the oil market glut by freezing production, they were not faring quite so well on Friday. Reuters states that as of 11:51 a.m. EST on Friday, US crude futures were down $1.17, or 3.8 percent, at $29.60 per barrel; meanwhile, Brent crude was down $1.28, or 3.7 percent, at $33.

The fuel’s gains earlier in the week were reportedly “tempered by continued concerns of an oversupplied market after a record build in U.S. crude inventories.” The consensus among analysts is that US stockpiles will rise on the back of seasonal spring refinery maintenance works.

NovaCopper (NYSEMKT:NCQ;TSX:NCQ) is focused on exploring and developing the Ambler mining district located in northwestern Alaska. The district is known for world-class polymetallic volcanogenic massive sulphide (VMS) deposits that contain copper, zinc, lead, gold and silver as well as carbonate replacement deposits with high-grade copper mineralization. Connect with NovaCopper to instantly receive their next catalyst.

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

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Santos Ltd. (ASX:STO) released its 2015 results, commenting that it incurred a net loss of $2.7 billion; that reflects after-tax impairments of $2.8 billion, as well as lower oil prices.

The company also released its reserves statement as of December 31, 2015. Proved plus probable petroleum reserves were 945 million barrels of oil equivalent as of that date, down 24 percent from 2014.

Other key points are as follows:

Production up 7% to 57.7 mmboe

Average realised oil price down 48% to US$54 per barrel

Sales revenue down 20% to $3.2 billion

Unit production cost per barrel down 10% to $14.40/boe

EBITDAX down 17% to $1.9 billion

Underlying net profit after tax of $50 million, down 91%

Asset impairments of $3.9 billion before tax, $2.8 billion after tax

Capital expenditure down 54% to $1.7 billion

GLNG start-up on schedule, with train 1 production regularly exceeding 110% of nameplate capacity and 16 cargoes shipped to date

Final dividend of 5 cents per share, fully franked, bringing the full-year dividend to 20 cents per share

Peter Coates, chairman of Santos, commented:

Despite the continued pressure on the oil price, operationally the business performed well in 2015 with Santos delivering its highest production in seven years, best safety performance on record and the successful start-up of the GLNG project which has shipped 16 cargoes to date.

It is a credit to management and staff to have maintained focus on safe and effective operations and project delivery in the face of the destabilising market conditions during the year.

The actions the company took in 2015 to strengthen its balance sheet and lower its cost base have put Santos in a stronger position to manage through a period of low oil prices.

The company raised $3.5 billion, reduced capital expenditure by 54% below 2014 levels and lowered production costs per barrel by 10%. With $4.8 billion in cash and committed undrawn debt facilities and no material drawn debt maturities until 2019, Santos is well placed to deal with the short term challenges.

Click here to read more about Santos’ 2015 results.
Click here to see the company’s reserves statement.

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The post Santos Reports 2015 Results, Releases Reserves Statement appeared first on Investing News Network.

At close of day Thursday, Freeport-McMoRan’s (NYSE:FCX) share price was sitting at $7.14, up an impressive 22.68 percent since the start of the week. Many investors are wondering what caused that spike, and thus far three key drivers have emerged.

The most obvious factor is Freeport’s Monday announcement that it’s entered into a definitive agreement to sell Sumitomo Metal Mining (TSE:5713) a 13-percent ownership interest in the Morenci unincorporated joint venture. Sumitomo Metal Mining will pay $1 billion in cash for the stake, and will see a decent boost in its exposure to Morenci as a result — currently the joint venture is owned 85 percent by Freeport and 15 percent by Sumitomo Metal Mining Arizona, which in turn is owned by Sumitomo (TSE:8058) and Sumitomo Metal Mining.

Commenting on the deal in a press release, Richard C. Adkerson, president and CEO of Freeport, said it “represents an important initial step toward [Freeport’s] objective to accelerate debt reduction and restore [its] balance sheet.”

Updated December 2015

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His words appear to have resonated with market watchers, with some seeing the news as a sign that debt-laden Freeport is set to turn a corner. Seeking Alpha contributor Stone Fox Capital is one such optimist, and earlier this week described the announcement as “a game changer for the stock.”

Others have been a little more cautious in their praise. “It’s a small step forward, but forward progress none the less,” Motley Fool writer Matt DiLallo commented. Meanwhile, Jason Hall, also of The Motley Fool, has posited that the deal “comes at a good time” given that Standard & Poor’s recently downgraded Freeport’s debt rating to “junk” status. That “could mean higher debt costs and difficulty refinancing its $20 billion debt, unless the company is able to start chipping away at the balance,” he said.

Market watchers also believe that Freeport’s share price was boosted this week by the news that Carl Icahn and David Tepper’s Appaloosa Management have increased their stakes in the company. According to Hall, 13F filings show that Icahn, an American business magnate, has increased his interest by 4 million shares, while Appaloosa has upped its position by 3.6 million shares.

“[W]hile Tepper’s stake is relatively small and his fund is well-known to actively trade and turn over its holdings, Icahn tends to invest for the long term and now holds nearly 9% of Freeport’s shares,” states Hall.

The final factor that’s been cited as a potential driver of Freeport’s gains this week is higher oil prices. Oil prices surged 7 percent Wednesday after Iran said it supports Russia and Saudi Arabia’s move to stem the oil market glut by freezing production, and while they were lower by Thursday, both US crude and Brent futures were still above $30 per barrel.

For investors, of course, the question is whether all of those factors make it a good idea to invest in Freeport. The idea is certainly compelling — even with this week’s gains, the company’s share price is still well below its 52-week of $23.97, and if a turnaround is in store buying now could be a good plan. However, the general consensus seems to be that Freeport may not be out of hot water just yet.

Notably, Hall points out that of the three factors that appear to have boosted Freeport’s share price this week, “there is limited ‘real’ good news to glean out of the noise.” Explaining, he states that while he’s positive on the company’s Morenci deal, “Freeport-McMoRan has zero control over oil prices or over hedge fund investors, so [he doesn’t] put much value in those two things with regards to the big picture.”

On a similar note, Paul Ausick at 24/7 Wall St. said in an article, “Freeport has a long way to go to recover its former luster,” while Stone Fox Capital suggests in its report, “[c]hasing the stock now probably is a losing game with the best option to purchase on any dips.”

All of that is certainly food for thought for investors interested in the diversified miner. It will certainly be interesting to see whether Freeport truly is on track to reducing its debt and getting back on the wagon.

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

The post Why is Freeport-McMoRan’s Share Price Up? appeared first on Investing News Network.

So far in 2016, the uranium price has been bumping along around US$34 per pound of U3O8, with utility buying remaining sluggish. As Raymond James highlights in a recent uranium industry update, 2016 could prove to be another year of flat performance — the firm is expecting an average price of US$38 for the year.

However, despite the slower market, there are still plenty of reasons to remain bullish on uranium. For one thing, Japan is expected to continue restarting its reactors, with a total of eight anticipated to come online by the end of the year. Further, China should be bringing an estimated 10 gigawatts online.

In light of those events, and due to utilities’ abnormally high long-term uncovered requirements, Raymond James believes utilities could come back to the market at any time to resume a normal pace of long-term contracting. As such, the firm is calling for a much higher average uranium price of US$50 in 2017.

Naysayers on nuclear power

That positive outlook for uranium means that by extension there is a positive outlook for nuclear power. And indeed, many in the uranium space are optimistic about the role nuclear power will play in the global energy mix in the future.

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“Nuclear energy has low life-cycle greenhouse gas emissions and has the potential, with innovative technologies, to serve humanity effectively for a very long time,” International Atomic Energy Agency Deputy Director General Mikhail Chudakov said late last year. “When considered in the broader context of sustainable development, nuclear power enhances energy security and reduces damage to ecosystems and impacts on human health.”

That said, there are still some naysayers. One is Morgan Stanley (NYSE:MS) investment banker Anthony Ianno — speaking at the annual Platts nuclear conference in Washington, he told investors that “the economics of nuclear are very challenging.”

Why? Because when compared to the cost of natural gas, nuclear capital costs five times as much. Ianno believes that makes the case for nuclear power a tough one to make. “It’s hard to make a decision to invest in new nuclear. It’s very hard for a CEO to make that decision. It’s easier to say no than to go forward,” Ianno said.

6 ways to fund nuclear power

Ianno’s comments bring up a good question: how can nuclear power be funded? World Nuclear News (WNN) recently looked at six ways to finance nuclear projects. Here’s a brief overview:

Corporate balance sheet financing: WNN explains that corporate balance sheet financing is typically a method of financing reserved for the largest utilities and developers. That is because the cost of a large nuclear plant — two or three reactors — is quite steep at about $20 billion. Balancing the corporate balance sheet is a difficult task to undertake as it requires a company to carry a large capital commitment over a period of anywhere from five to seven years before the plant starts generating revenue.
French Exceltium model: In France, a number of industrial investors came together with banks to form what was called an “Exceltium,” whose purpose was to help finance new-build plants in exchange for cheaper electricity. WNN states that the “payback to the investors — as opposed to the banks — comes over a period of 24 years through agreements to provide electricity to the industrial investors for a mix of fixed and variable pricing.”
The Finnish Mankala model: The Finnish Mankala model is widely used in the Finnish electricity sector. It operates in such a way that a “limited liability company is run like a zero-profit-making co-operative for the benefit of its shareholders.” WNN notes that Mankala owners are allowed and obliged to purchase electricity from the plants equal to their shareholding at a cost. From there, the electricity can either be used by the buyer or sold on the market.
Vendor equity: Investopedia explains that vendor equity, also known as a seller note, is a debt instrument that is used as a short-term loan agreement, but also provides financing for the buyer. The loan is secured by inventory being sold. As a caveat to vendor equity, WNN notes that technology vendors are limited by their balance sheets, which means that they are more likely to invest in the more advanced projects that are likely to succeed. That gives investors the highest chance at a shorter time for their return on investment.
Export Credit Agency (ECA) debt and financing: ECAs are public agencies that provide government-backed loans, guarantees and insurance to corporations from their home country. WNN explains that ECAs have stepped in to alleviate the pressure caused by the reluctance that commercial banks have in lending money. In this regard, “ECAs have provided the backbone of debt lending to a number of projects in recent years through their direct or guaranteed lending to projects.”
Private financing with government support mechanisms: The final financing method discussed by WNN is private financing with government support mechanisms. That is a method of support that can be crucial to the advancement of nuclear power projects. This type of financing mechanism can come in the form of guarantees to support debt, revenue support mechanisms or in even cash. The method, however, hinges on the country in which the plant is being developed, as it requires a look at a variety of factors such as credit rating, financial reserves and the rights and obligations of generators.

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Securities Disclosure: I, Vivien Diniz, hold no direct investment interest in any company mentioned in this article.

The post Nuclear Power: A Look at Financing Options appeared first on Investing News Network.

January 29, 2025

Top 10 mining industry trends in 2025: Deloitte

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Almonty enters molybdenum offtake deal with SpaceX contractor SeAH

Almonty Industries (TSX, ASX: AII), a global producer of tungsten concentrates, has entered an exclusive offtake agreement with SeAH M&S, the largest processor of molybdenum products in South Korea. Under the agreement, SeAH will purchase all material prod … Read More

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Alamos receives environmental permit for Puerto Del Aire project construction

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Geophysical has been done on all claims, resistivity, magnetometer and LIDAR Reports are available. Coordinates are 62.54974 150.89338 Several indications of load deposit on site 907-775-3373

Turn key Placer Mine near Petersville, Alaska 25 contiguous Claims, approved a APMA in place

Geophysical has been done on all claims, resistivity, magnetometer and LIDAR Reports are available. Coordinates are 62.54974 150.89338 Several indications of load deposit on site 907-775-3373

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LOS ANDES COPPER DRILL HOLES CONFIRM THE PRESENCE OF HIGHER GRADE MINERALIZATION IN PROJECT CORE

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1. Pure Energy Minerals (TSXV:PE)

Who Might Be Tesla’s Graphite Supplier?

2. Nemaska Lithium (TSXV:NMX)

3. NexGen Energy (TSXV:NXE)

4. Integra Gold (TSXV:ICG)

5. Arena Minerals (TSXV:AN)

6. Elcora Advanced Materials (TSXV:ERA)

7. Gold Standard Ventures (TSXV:GSV,NYSEMKT:GSV)

8. Canada Carbon (TSXV:CCB)

9. Viscount Mining (TSXV:VML)

Who Might Be Tesla’s Graphite Supplier?

10. Roxgold (TSXV:ROG)

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US uranium production in 2015

Are uranium prices to blame?

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Geographic diversity

Nuclear power potential

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1. It is lighter than air

2. It has no smell

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3. Natural gas and oil occur together

4. It’s used in manufacturing as well as fuel

5. It can be used to power vehicles

6. Natural gas fracking can cause earthquakes…

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7. …and has been controversial for other reasons too

8. However, it’s also known as a “clean” fuel

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9. And despite prices being down, demand is growing

10. Natural gas prices are tied to the weather

Musgrove Minerals

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Elcora Advanced Materials

Lithium X Energy

Gold Reserve

Nicola Mining

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Naysayers on nuclear power

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6 ways to fund nuclear power

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Securities Disclosure: I, Vivien Diniz, hold no direct investment interest in any company mentioned in this article.

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Mine News

Top 10 mining industry trends in 2025: Deloitte

Almonty enters molybdenum offtake deal with SpaceX contractor SeAH

Alamos receives environmental permit for Puerto Del Aire project construction

Mineral Exploration Site

Mineral Exploration Site

Struggling to catch gold?

Struggling to catch gold?

Historic Gold Mine For Sale

Historic Gold Mine For Sale

Placer Claims For Sale

Placer Claims For Sale

Turn key Placer Mine near Petersville, Alaska 25 contiguous Claims, approved a APMA in place

Turn key Placer Mine near Petersville, Alaska 25 contiguous Claims, approved a APMA in place

Patented Lode Claim

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