Gold mining
Barkerville receives partial revocation of cease-trade
Barkerville Gold Mines Ltd. has received a partial revocation order from the cease-trade order issued by the British Columbia Securities Commission in August.
A trading halt had been granted by the Investment Industry Regulatory Organization of Canada on August 14, with a cease-trade order issued August 15 for its failure to properly file a technical report to support its Cow Mountain gold estimates.
The November 13 partial revocation is solely to allow the completion of a loan by CEO and president Frank Callaghan to the company.
Mining labour
Feds back-pedalling over foreign workers program
Days after two large B.C. unions announced that they would ask the Federal Court to overturn a decision granting work permits for Chinese mine workers, the federal government is back-pedalling on a decision to grant the permits.
In a statement, federal human resources minister Diane Finley announced that the government is reviewing Canada’s Temporary Foreign Worker (TFW) program and that it’s “not satisfied” with the process that led to the permits being granted to approximately 200 Chinese workers bound for a northern B.C. coal mine.
base metals
Some optimism for junior miners: AME BC
A rise in base metals prices at the end of the third quarter may indicate better times ahead for B.C.’s junior miners, according to the Association for Mineral Exploration British Columbia (AME BC).
In his third quarter update, AME BC president Gavin Dirom said a 12% rise in base metals prices at the end of September compared with three months before was “perhaps a sign of better times ahead.”
He added that, while B.C.’s exploration is to be down from last year’s “record-breaking pace,” it is still attracting significant investment.
GOLD MINING
Novagold COO to step down
Novagold Resources Inc. announced last week that its senior vice-president and chief operating officer will retire at the end of November.
Gillyeard Leathley joined the company in 2010 as a senior adviser to the president and became senior vice-president and chief operating officer later that year. He joined the board of directors in early 2012.
“Gil has been instrumental in advancing our flagship mining projects ... and executing on the divestiture of non-core assets as part of the reorganization of the company,” said Novagold’s president and chief executive officer Gregory A. Lang.
Base metals
Thompson Creek Metals boss to retire
Thompson Creek Metals Co. Inc. (TSX:TCM; NYSE:TC) has announced that CEO and chairman Kevin Loughrey plans to retire within 18 months, subject to a suitable successor being identified.
Loughrey has held the position since 2006, and led the company through listing on the New York Stock Exchange in 2007 and achieving record revenue of US$1 billion in 2008. According to the company, he orchestrated the acquisition of Terrane Metals Corp. in 2010, shifting it from a pure molybdenum producer to a diversified base metals company.
