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Aug 31, 2011

Dealtalk: Northgate bid a risky step in AuRico makeover

TORONTO (Reuters) – AuRico Gold (AUQ.TO: Quote, Profile, Research, Stock Buzz) is having a difficult time escaping the image of being a miner more prone to delivering disappointment than gold bars.

The Mexico-focused, Toronto-based company announced a C$1.46 billion ($1.5 billion) takeover offer for Northgate Minerals (NGX.TO: Quote, Profile, Research, Stock Buzz) this week, a deal that would double its production and expand its geographic footprint. Its stock price promptly dived.

Aug 31, 2011

Northgate bid a risky step in AuRico makeover

TORONTO, Aug 31 (Reuters) – AuRico Gold (AUQ.TO: Quote, Profile, Research, Stock Buzz) is having
a difficult time escaping the image of being a miner more prone
to delivering disappointment than gold bars.

The Mexico-focused, Toronto-based company announced a
C$1.46 billion ($1.5 billion) takeover offer for Northgate
Minerals (NGX.TO: Quote, Profile, Research, Stock Buzz) this week, a deal that would double its
production and expand its geographic footprint. Its stock price
promptly dived.

Aug 29, 2011

AuRico Gold to buy Northgate in C$1.46 billion deal

TORONTO (Reuters) – Mexico-focused miner AuRico Gold (AUQ.TO: Quote, Profile, Research, Stock Buzz) has offered to buy Northgate Minerals (NGX.TO: Quote, Profile, Research, Stock Buzz) for C$1.46 billion ($1.5 billion) in a friendly deal that would nearly double its output and expand its geographic reach as gold prices soar.

The takeover offer, a 62 percent premium to Northgate’s closing share price on Friday, is the latest in a string of deals involving Canadian gold miners as prices for the metal climb faster than many of the most bullish analysts had forecast.

Aug 26, 2011

Cameco plans C$520 million hostile bid for Hathor

TORONTO/BANGALORE (Reuters) – Uranium producer Cameco (CCO.TO: Quote, Profile, Research, Stock Buzz) plans a C$520 million ($526 million) hostile takeover bid for Hathor Exploration (HAT.TO: Quote, Profile, Research, Stock Buzz) after talks aimed at a friendly deal with the junior uranium explorer failed.

Canada’s largest uranium producer said on Friday it would offer C$3.75 a share for Hathor, a 40 percent premium on its Thursday close of C$2.67.

Aug 16, 2011

Spies, assassins spice up Toronto film festival

TORONTO (Reuters) – Spies and assassins will get moviegoers’ adrenaline pumping at the Toronto International Film Festival this year, while the world premiere of a Winnie Mandela biopic brings a political edge to the event.

The 10-day festival opens on September 8 and will close with David Hare’s “Page Eight”, a contemporary spy film that casts a critical eye on modern intelligence practices.

Aug 14, 2011

Junior miners present big risk in bear market

TORONTO, Aug 14 (Reuters) – With recession fears weighing
on equity markets, resource investors would do well to steer
clear of speculative Canadian mining plays and put their cash
into producing miners with strong balance sheets.

Leading market indicators are pointing to slowing global
growth, which will likely lead to lower demand for resources as
the construction and manufacturing sectors pull back.

Aug 12, 2011

Analysis: Japanese rare earth consumers set up shop in China

TOKYO/TORONTO (Reuters) – Japanese manufacturers concerned about China’s restrictive export quotas on essential rare earths may have found a way to resolve their supply concerns — relocate production to China.

By setting up shop inside China, where some 95 percent of the world’s rare earths are produced, manufacturers can obtain the metals on the cheap and then export the finished products outside the quota system.

Aug 11, 2011

Molycorp rises to profit on sales volume, prices

TORONTO, Aug 11 (Reuters) – Molycorp (MCP.N: Quote, Profile, Research, Stock Buzz) rose to a
profit on Thursday as the company, which is modernizing its
Mountain Pass mine in California, sold more rare earth products
at higher prices, a trend it expects to continue.

Molycorp chief executive Mark Smith told Reuters that he
believes rare earth prices will stay strong in 2011, despite
recent reports of lower prices for certain of the metals and
declining demand out of Japan.

Aug 9, 2011

Thompson Creek recovers on strong moly outlook

TORONTO, Aug 9 (Reuters) – Shares of Thompson Creek Metals
(TCM.TO: Quote, Profile, Research, Stock Buzz) climbed off a year low on Tuesday after the molybdenum
miner backed its full-year production outlook and broader
market fears of a double-dip recession calmed.

Shares closed at a year-low of C$6.94 on Monday ahead of
the company’s results. Later it posted a lower quarterly profit
and warned that output at its flagship Thompson Creek mine
would slip in the second half of the year as it produced a
lower-grade ore. [ID:nL3E7J83JC]

Aug 4, 2011

Cameco profit drops; cuts industry outlook

TORONTO, Aug 4 (Reuters) – Cameco Corp (CCO.TO: Quote, Profile, Research, Stock Buzz), Canada’s
largest uranium producer, reported a 23 percent drop in second-
quarter profit on Thursday as sales volumes declined, and it
lowered its industry outlook in the wake of Japan’s nuclear
crisis.

Cameco revised its supply-demand outlook to take into
account Germany’s decision to move away from nuclear in the
aftermath of the nuclear disaster at the Fukushima Daiichi
power plant, and the current state of Japan’s reactor fleet.

    • About Julie

      "I currently cover mining and minerals out of the Toronto bureau, where I focus on uranium, silver, platinum, lithium and REEs. Prior to moving to the mining sector, I worked as an online editor and video producer for Reuters.com. I started at Reuters as a TV intern in Chile and before that, I freelanced in Eastern Europe and spent eight months living in the Galapagos Islands."
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