A new mine for the North! (well sort of – it’s very close.). JDS gets a permit to develop Silvertip. [Mining.com] The old Midway Deposit, just south of Rancheria in northernmost BC hasn’t seen much activity since Cordilleran Engineering discovered it in the 1980’s but JDS saw an asset worth getting. They are going to use the old Sa Dene Hess mill, bought from Cominco. Sounds like they’ve got the locals on side too. [CBC.ca]
Professional services network PricewaterhouseCoopers, a monitor appointed by the court, conducted the investigation that revealed the concealed money, say the $4.4 million was held in a ‘suspense’ account, and comes from a prepaid sale of zinc concentrates that was never completed to Shaanix Zinc, a Chinese company. PricewaterhouseCoopers say “the company appears to have deliberately concealed from the monitor the existence of the funds, and its efforts to return the money to Shaanix Zinc,” according to submissions make to the court. Senior management of Yukon Zinc directed corporate staff on April 14 not to advise the monitor, as it would “cause much trouble,” according to the court documents.
Things must be slow in the management consulting biz when a big player does a freebie pump piece on managing mineral exploration: Boston Consulting Group on How Mining Companies Can Beat the Exploration Crisis. [Marketwired]. The big findings?
The following are among the observations the report presents:
- Science (especially computer modeling) has its place, but it is no substitute for field observation and drilling.
- Risk-averse companies often forgo greenfield exploration in favor of brownfield exploration. But in doing so, they incur more risk than if they had balanced the two types of exploration in a portfolio approach.
- Exploration should be run as a profit center.
- Talent makes the critical difference in exploration success. Yet many companies overlook the people management practices that are crucial to exploration success. These include: recruiting ore finders, mentoring young geologists, balancing the mix of staff and contract geologists, and creating employment stability.
No s#$% Sherlock. “Consultants borrow your watch to tell you the time then they walk off with your watch” – Robert Townsend.
Avalon thinks there’s a future in selling “conflict free tin”. [Mining.com] Right now there doesn’t look like much future selling any tin. (We’ll spare you the graph – see yesterday). No happy talk about REE’s so Thor Lake is safe from near term development.
Postscript on the jade miners… Electra Stone closes oversubscribed PP for $1M. [Resource clips] Score 1 for Zimtu.
Auryn Resources to acquire North Country Gold. for stock of course. [Junior Mining Network] A significant program appears to be underway at the Committee Bay Project this summer.