Uranium rally’s fizzling. Uranium bulls are getting gored. [IKN]
Kennady Diamonds intersects 73 m of kimberlite at Faraday… maybe another Kelvin in sight! [Junior Mining Network] Here’s Will Purcell at Stockwatch on the results:
Patrick Evans’s Kennady Diamonds Inc. (KDI), up 29 cents to $4.84 on 61,000 shares, has some of its best drill hits yet at Faraday 2, a kimberlite enigma adjacent to its promising Kelvin pipe, 250 kilometres northeast of Yellowknife. As a result Kennady has boosted its kimberlite target to 12 million to 15 million tonnes, up from the 10 million to 13 million that it previously estimated. Two years ago Mr. Evans had hoped to prove the Kelvin and Faraday kimberlite complex held five million tonnes. Several years before that, De Beers Canada decided the project was not worth the effort. It turned it over to its Gahcho Kue co-venturer, Mr. Evans’s Mountain Province Diamonds Inc. (MPV: $4.97). (Mr. Evans used the play to launch Kennady Diamonds in 2012.) If Kennady hits the high end of its target and if subsequent tests support earlier grade estimates topping two carats per tonne at Kelvin and Faraday, the company could have upwards of 35 million carats. At just $118 (U.S.) per carat, the modelled average at nearby Gahcho Kue, those potential diamonds would be worth over $4-billion (U.S.).
TerraX trying to raise $3.4M. for their drilling programs at Yellowknife. [Junior Mining Network]
TSX-V at a tipping point! A New Age rehash of Tony Simon’s theory about zombie juniors and how the exchange is going to crash or something…. [InvestorIntel.com]
Copper, zinc, lead, all falling this week! But wait – here is all you need to know:
The US dollar is up.
Something funny is up in the tin market. Both prices and LME inventories are falling. Unless somebody’s opened up a new tin warehouse this shouldn’t last long.
Both going down?
Guru watch: Both The Resource Maven and The Daily Gold are getting bullish on gold. But don’t forget dear reader that the Cambridge House May Show is just next week….. [Mining.com / Cambridge House]
After the South32 spinoff and a concerted effort to sell its dogs, BHP is left with $2.8B of coal & oil assets it can’t sell…. [Bloomberg]
Oreninc Index of mineral exploration funding activity climbs to 5 week high …