Frederic Tomesco

Montreal

Business Reporter at Montreal Gazette

Montréalais. Tweets: EN / FR.

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Articles

Aya Gold jumps on new Boumadine drill results

1 week ago | northernminer.com | Frederic Tomesco

Aya Gold & Silver (TSX: AYA; US-OTC: AYASF) reported high-grade assays from its Boumadine polymetallic project in Morocco while extending mineralization. The stock surged. Highlight hole BOU-DD25-509 in the Imariren strike zone cut 9.3 metres grading 2.18 grams gold per tonne, 62 grams silver, 1.5% zinc and 0.7% lead from 282.1 metres depth, Aya reported Thursday.
Premier American to buy Nuclear Fuels in $31M deal

1 week ago | northernminer.com | Frederic Tomesco

Premier American Uranium (TSXV: PUR, US-OTC: PAUIF) agreed to buy Nuclear Fuels (CSE: NF; US-OTC: NFUNF) to create one of the largest U.S. uranium explorers. Nuclear Fuels stock soared. Nuclear Fuels shareholders will receive 0.33 of a common share of Premier American for each share held, the companies said Thursday in a joint statement. This implies a payment of about 43¢ per share, which would value Nuclear Fuels at about $31 million (C$42 million).
Meta, Constellation power deal may help uranium miners: analysts

1 week ago | northernminer.com | Frederic Tomesco

Facebook owner Meta’s 20-year deal with Constellation Energy (Nasdaq: CEG) to buy output from its Clinton nuclear plant in central Illinois bolsters the long-term case for uranium producers, analysts said. Starting in June 2027, Meta is to receive about 1.12 gigawatts from Constellation, which represents the entire output from Clinton’s reactor, the companies said late Tuesday in separate statements. Future modifications will boost Clinton’s output by 30 megawatts, they also said.
Defense Metals eyes $250M loan for BC rare earths

1 week ago | northernminer.com | Frederic Tomesco

Defense Metals (TSXV: DEFN) said Export Development Canada could lend up to $250 million (C$342 million) to help the company develop and build its main Wicheeda rare earth project in British Columbia. The stock jumped. Canada’s export credit agency expressed its interest in participating as a mandated lead arranger for the debt financing package, Vancouver-based Defense Metals said Wednesday in a statement.
XXIX refocuses Opemiska copper resource in Quebec

1 week ago | northernminer.com | Frederic Tomesco

XXIX Metal (TSXV: XXIX; US-OTC: QCCUF) downgraded its Opemiska project resource in northern Quebec and said the deposit covers less ground than previously thought. The indicated pit-constrained resource is 62.7 million tonnes grading 0.76% copper, 1.71 grams per tonne silver and 0.31 gram gold for contained metal of 1.05 billion lb. copper, 3.45 million oz. silver and 634,000 oz. of gold, XXIX said Tuesday.
Teck halts Chile copper mine for one month

2 weeks ago | northernminer.com | Frederic Tomesco

Teck Resources (TSX: TECK.A; NYSE: TECK) said a mechanical issue at its Carmen de Andacollo open-pit mine in Chile will force production to be halted for about a month. The unplanned downtime – caused by a maintenance shutdown of the SAG mill – will have no material impact on 2025 output, Teck said Monday in a statement. Carmen de Andacollo will mitigate the effect of the interruption by rescheduling some plant maintenance work to coincide with the halt, Teck said.
Platinum seems near price surge: Sprott

2 weeks ago | northernminer.com | Frederic Tomesco

Platinum may be on the cusp of a sustained price rise amid forecasts for reduced inventories and a third straight year of supply scarcity, Sprott Asset Management says in a new report. After deficits of 896,000 oz. in 2023 and 992,000 oz. last year, the global platinum market is expected to record a shortfall of 966,000 oz. this year, the World Platinum Investment Council said this month. That’s up from the council’s March forecast of an 848,000-oz. deficit.
Frontier feasibility lifts PAK lithium reserves by 37%

2 weeks ago | northernminer.com | Frederic Tomesco

Frontier Lithium (TSXV: FL; US-OTC: LITOF) said a definitive feasibility study for the $943-million capex PAK project in northern Ontario boosted reserves by 37%. The study, which calculates a net present value of $932 million based on a discount rate of 8%, provides a “robust basis” for Frontier to target a final investment decision within two years, according to a statement issued Thursday.
First Majestic boosts Navidad’s gold-silver deposit

2 weeks ago | northernminer.com | Frederic Tomesco

First Majestic Silver (TSX, NYSE: AG) expanded the high-grade mineralization of its Navidad deposit in northwestern Mexico as it announced a second gold-silver discovery in a year in the Santo Niño vein at the nearby Santa Elena mine. Shares rose. Drillhole EWUG-25-050 at Navidad cut 6.8 metres grading 14.8 grams gold per tonne and 642 grams silver from about 703 metres downhole, Vancouver-based First Majestic said Wednesday.
OBITUARY: Tech innovator Dengler took Dynatec to global stage

2 weeks ago | northernminer.com | Frederic Tomesco

Longtime mining industry executive W. R. “Bob” Dengler, an engineer who built Canadian startup Dynatec into one of the country’s biggest mine contractors and operators, has died. He was 84. Dengler passed away peacefully on May 15 in Aurora, Ont., his family said in an emailed statement. No cause of death was disclosed. “Bob Dengler is undoubtedly a mining legend,” former Iamgold CEO Stephen Letwin wrote in a 2018 letter of recommendation for an award.