Frik Els, Author at MINING.COM

UPDATE: Gold massacred again after hours, down $166

Molycorp stock in freefall as falling cash flow forces it to find new financing

Today's decline brings Molycorp's losses since hitting a high of $77.54 on May 3 2011 to over 80% giving it a market value of $1.1 billion.

Frik Els | August 3, 2012 | 9:02 pm

Mongolia’s champion of resource nationalism is going to jail for four years

Former president Nambaryn Enkhbayar was found guilty on corruption charges and sentenced to four years in prison just weeks after he made a political comeback with his Mongolian People’s Revolutionary Party as the junior partner in the new ruling coalition.

Frik Els | August 3, 2012 | 6:18 pm

‘Fed up’ gold mining boards to continue hacking top management

“We interpret that lack of capital discipline and stock underperformance has reached a breaking point in the mining sector and we expect further management changes to come.”

Frik Els | August 3, 2012 | 3:19 pm

Anglogold walks away from Gabon JVs with Silver Bull

The JVs dates back to October 2009 and AngloGold spent approximately $5.7 million on exploration at Ndjole-Mevang and $3 million at Ogooue.

Frik Els | August 3, 2012 | 2:45 pm

India’s coal mines threaten dwindling tiger population

India's tiger population has dwindled from tens of thousands a century ago to a mere 1,411 according to the last official census.

Frik Els | August 3, 2012 | 2:30 pm

Draghi drags gold under $1,600

Gold dropped 1% to below $1,600 an ounce for the first time in a week on Thursday after disappointment over efforts to stimulate the economy from the US Federal Reserve was followed by more of the same from the from the European Central Bank.

Frik Els | August 2, 2012 | 7:28 pm

The BHP show obscures Australian mining's deeper problems

Outer Harbour outta here! When BHP gives up on iron ore growth then you know the mining boom is over

The mining giant is also scaling back or postponing other expensive expansion projects but the pullback in iron ore – by far the Melbourne-based company's most profitable division – is a surprising move and indicative of the cloudy outlook for the commodities business.

Frik Els | August 2, 2012 | 4:00 pm

Add German complications to Papua New Guinea problems for Nautilus undersea mine

The Toronto-based company said in the report it continues to engage the government of PNG in legal proceedings held in Sydney Australia but that it has run into trouble with its German partners building a surface vessel for the operation which would lead to delays.

Frik Els | August 2, 2012 | 2:53 pm

Southgobi up 6% at open as Chalco bid is extended

SouthGobi Resources Ltd. (TSX:SGQ)(HKSE:1878) climbed 6.25% on Thursday as markets opened after announcing it was notified by majority shareholder Ivanhoe Mines that […]

Frik Els | August 2, 2012 | 2:07 pm

Dilution ahoy! Nautilus offers major investors new shares for less than 52-week low

Nautilus Minerals dropped 7.3% to $1.02 in late-afternoon trade on Wednesday, after the Toronto-based firm announced that it is raising $34 million from its major shareholders at 90c a share to build its seabed mining system.

Frik Els | August 1, 2012 | 9:08 pm