Metals Creek inks option for Dona Lake Mine from Newmont Goldcorp, stock jumps

The mine, near Rankin Inlet in Nunavut, is expected to produce about 230,000 ounces of gold this year at total cash costs of $612 per oz.

The BC-based miner owns 100% of the Djimbala project located in Mali’s Yanfolila gold belt.

The company says the production process rapidly exfoliates Albany graphite into few-layer graphene with a conversion efficiency of over 90%.

During its operation, the Victor mine yielded roughly 8.1 million carats of diamonds.

Investors worry a referendum on mining in Imbabura, the province in which its flagship Cascabel copper-gold project is located, could jeopardize the mine's future.

Statistics Canada reported Thursday that Canadian-based energy and mining companies invested a net C$15.5 billion ($11.5 billion) outside of the country in the first three months of 2019.

The threat of "weaponizing" rare earths by China means potential sellers of the minerals to the US stand to gain from a tightened international supply and higher prices.

The new discovery could add 25,000 metres of underground exploration drilling and 75,000 metres of definition drilling at Lac des Iles this year.

The jump was driven primarily by the $17.4-billion acquisition of Goldcorp Inc.