China plans to have 110 nuclear power plants running by 2030. [China Mining] This nicely dovetails with Mickey Fulp’s recent musings on the direction of the uranium market. [Mercenary Geologist] On the face of it, when compared to other metals this year, uranium looks pretty good.
Royal Gold continues work at Tetlin Project. [Petroleum News of Alaska] Looks like a 1M ounce gold (-copper) skarn deposit shaping up.
“Chris Taylor’s Dunnedin Ventures Inc. (DVI), down one-half cent to 4.5 cents on 220,000 shares, is facing a dissident shareholder and a threatened proxy fight. The company’s former special adviser, Allan Barry Laboucan, says he was “pushed out of Dunnedin” but plans a return. Mr. Laboucan is best known as an “editor, writer and show host” with Allan Barry Reports, his on-line tout site. A year ago Mr. Taylor, Dunnedin’s president and chief executive officer, appointed him as a special adviser. Appointments are usually gushy affairs, and Mr. Taylor lauded his new adviser as “one of the most well-rounded diamond industry experts in Canada.” He did not back up the claim, limiting his description of Mr. Laboucan’s experience to his frequent guest appearances on business television programs seeking his opinions on resource companies and market trends, his role as “chief market commentator” with Agoracom.com, as well as his work with Allan Barry Reports.
Mr. Laboucan is certainly not returning the puffery. He now says in an Allan Barry Reports blog entry that Mr. Taylor “had little experience in diamonds” when Dunnedin began working its Kahuna diamond project in Nunavut last year, adding that “he is unfit to lead the company any longer.” Mr. Laboucan says he made his “concerns about the board and the leadership” of Dunnedin known to the company’s board of directors, after which they “chose effectively to dismiss me.” That hardly seems a surprise, since Mr. Laboucan says he wants to change the board of directors, appoint himself president and CEO, and bring in a new team experienced in diamonds and with skills complementary to his own. He then delivers a final insult to Mr. Taylor’s crew, saying he feels Dunnedin’s efforts were “more about the board of directors trying to build a stock promotion than a diamond mining company,” adding that he believes the “science of what we have discovered shows we have a world-class diamond project.”
Presumably he means the science of what Shear Diamonds Ltd. discovered in the mid-2000s as that now defunct company was responsible for the discovery of the narrow but rich Kahuna, Notch and PST kimberlite dikes. Shear never completed a resource estimate based on its work but Dunnedin did, declaring a 3.1-million-tonne inferred resource at Kahuna, averaging 1.04 carats per tonne, with another 921,000 tonnes inferred at Notch, averaging 0.90 carat per tonne. (PST, the smallest and richest of the tree dikes at 2.18 carats per tonne, does not have a resource estimate as yet.) Ultimately, whoever holds control of Dunnedin next year will have to raise several million dollars to advance Kahuna in a meaningful way since a lot of drilling and bulk sampling will be needed to prove or kill the project.”
Claim staking across the North…
Essentially nothing happening west of the Rockies: gold staking in Nunavut is the only bright spot. A total of 14 claims staked in the Yukon in September.