QUARTERLY UPDATE – Teck Resources Ltd. July 24 reported second quarter adjusted profit attributable to shareholders of C$72 million (C13 cents per share) compared with C$197 million (C34 cents per share) in 2013. Profit attributable to shareholders was C$80 million (C14 cents per share) compared with C$143 million (C25 cents per share) a year ago. Teck said the decline in adjusted profit is largely due to significantly lower coal prices. Partly offsetting the lower coal prices was the positive effect of the stronger U.S. dollar, reduced corporate overhead expenses and changes in pricing adjustments year-over-year. At Red Dog, zinc and lead production in the second quarter increased 2 percent and 7 percent, respectively. Teck attributes the increase to the processing of softer ores, which substantially increased tons milled during the period. These items were partially offset by lower zinc ore grades and recoveries. Teck reports a 24 percent rise in Red Dog zinc sales volumes compared to a year ago due to higher opening market inventories in 2014. Second quarter operating costs at the Northwest Alaska mine rose primarily in relation to increased sales volumes in the period. The 2014 Red Dog shipping season began on June 29 with planned shipments of 996,000 metric tons of zinc concentrate and 184,000 metric tons of lead concentrate compared with 1,016,600 metric tons and 184,500 metric tons, respectively, for the 2013 season. Sales volumes of contained zinc metal are estimated at approximately 175,000 metric tons in the third quarter. During the second quarter Teck provided the U.S. District Court for Alaska findings of a study into a proposed 52-mile pipeline which would direct effluent from Red Dog Creek to the Chukchi Sea. Based on that study, the company informed the court it is exercising an option not to build the pipeline and will pay a penalty of $8 million as a result.

RARE EARTHS – Ucore Rare Metals Inc July 23 said it has hired SRK Consulting to compile baseline data and qualitative results from ongoing engineering studies to produce a formal plan of operations for the Bokan-Dotson Ridge rare earths project in Southeast Alaska. The company said this operational plan will be submitted to the U.S. Forest Service to facilitate delivery of an Environmental Impact Statement and initiate the review process set out in the National Environmental Policy Act. Site work being completed at Bokan includes: the continued collection of baseline water samples; construction of a meteorological station to collect weather data required for the permitting process; kinetic testing of representative samples of drill core required to support permitting initiatives; and barrel tests containing samples of sorted rock to assess water quality runoff for a planned rock management facility. Ucore additionally reports that two drills are now in operation at the site. The smaller of the two rigs is committed to infill drilling for the purpose of upgrading the existing Inferred resource to the Indicated category. The larger rig will drill multiple deep holes with the goal of expanding the existing Bokan resource to depth. The larger rig also will drill a number of geotechnical holes and groundwater monitoring wells to obtain supplementary data for use in the engineering and permitting of the project. In addition to the field work, metallurgical testing currently underway at Hazen Research aims to optimizing the process flow-sheet set out in Ucore’s preliminary economic assessment. The finalized flow-sheet will form the basis of the Bokan pilot plant scheduled for later this year. The results of the pilot plant testing, together with the drilling, will be incorporated into the Bokan feasibility study, scheduled for delivery in 2015. Ucore also emphasized its commitment to providing local employment and business opportunities. The Prince of Wales Tribal Enterprise Consortium has provided five personnel for the 2014 drill program using locally sourced employees. Aurora Geosciences is providing five local personnel for project management and technical services. Remote Made Easy of Ketchikan is providing full-time expediting services, fuel and material supplies, and casual labor on an on-call basis. In addition, Tyler Rental from Ketchikan is providing ancillary equipment on a contract basis. “Our Bokan-Dotson Ridge project continues to progress quickly with the support of permitting agencies at a federal and state level. We're particularly pleased to see our plan to ensure that Ucore and our contractors provide local employment is being carried out,” said Ucore COO Ken Collison.

GRAPHITE – Graphite One Resources Inc. July 23 reported it has retained the engineering services of TRU Group Inc. to define initial options for development at Graphite Creek. In a June 20 preliminary report, TRU Group’s suggests “proceeding robustly with detailed geological evaluation, attendant test work and the engineering, technical and business studies” to confirm their preliminary findings at Graphite Creek. The report focuses on matching the resource to up-market functionalized end-use compounds. The initial assessment by TRU suggests that the graphite at Graphite Creek is amenable for the development of a suitable spherical graphite product that is competitive on quality. There is significant opportunity for the project to push downstream by performing additional processing to their expected run-of-mine concentrate. The products recommended for development and manufacture include: uncoated spherical graphite for use in the lithium battery market; expanded graphite, exfoliated and micronized, for use in alkaline batteries; and jumbo flake graphite that can be sold to the refractory industry. The analysis took into account the carbon-graphite content, impurity levels, flake size, and potential for upgrading according to prior test results. The assessment also notes the strategic significance of the Graphite Creek project as a secure American-based resource as a substitute for Chinese supply, as well as a competitor against imports from other countries. “We are pleased to have this report completed by the TRU Group who are known for their industry-leading expertise and roster of experts,” said Graphite One CEO Anthony Huston. TRU Group Inc. provides consulting in lithium and brine; rare earths; magnesium metal; coal-based & natural gas chemicals; and graphite-graphene technology.

FINANCE – Goldrich Mining Co. July 23 said it has closed the final tranche of its previously reported private placement financing, increasing the total gross proceeds raised to US$1.54 million. Net proceeds from the offering will be utilized to further advance development of the company's Chandalar gold project in Alaska as well as for general working capital purposes. The company said plans to begin a hard rock exploration program in August that will include airborne radiometric and magnetic surveys as well as geologic mapping and sampling to further refine high-priority targets at Chandalar. The company raised US$1,524,000 through the issuance of 27,726,090 units at US5.5 cents per unit. Each unit consists of one full share of the company’s common stock and one-half of a Series N warrant. Each full warrant is exercisable to purchase one Goldrich common share at C11 cents for a period of five years following date of issuance. Goldrich officers and directors purchased 1,424,454 units under the same terms and conditions as units purchased by other investors in the private placement. “We are very pleased to have completed this financing and to see officers and directors of the company participating in it,” said Goldrich President and CEO William Schara. “The continued support of new and existing shareholders is also greatly appreciated. The financing will allow the Company to complete significant milestones for advancing exploration of our hard rock prospects.” GVC Capital LLC acted as the placement agent for the offering and was paid a commission of 8 percent of gross proceeds, placement agent warrants equal to 10 percent of the total units sold, and expenses equal to 2 percent of the gross proceeds of the securities sold in the offering. Each agent warrant is exercisable to purchase one Goldrich common share at US5.5 cents for a period of five years. The warrants are subject to call for early expiration if certain conditions are met.

POLYMETALLIC – Constantine Metal Resources Ltd. July 22 reported that initial 2014 drilling at its Palmer project in Southeast Alaska has cut a thick lens of high-grade massive sulfide mineralization 150 meters down-dip of the lowest previous intercept at the South Wall zone. Drill hole CMR14-54 cut 22.1 meters grading 2.48 percent copper, 4.05 percent zinc, 24 grams per metric ton silver and 0.39 g/t gold. The intersection represents a major expansion of the South Wall zone to depth. The hole was designed to test a large conductive plate modeled from downhole geophysical data that is located on projection southwest and down-dip of the existing deposit. Constantine said CMR14-54 confirms that the conductive plate is associated with massive sulfide as shown on the long section. When combined with the width, copper-rich grade and character of the mineralization observed, suggests excellent potential to significantly expand the South Wall zones. South Wall mineralization has now been defined over a vertical distance of over 600 meters, and remains open to expansion at depth and along strike. Garfield MacVeigh, President and CEO states; “This is an exciting development. Hole CMR14-54 not only expands the footprint of the South Wall zones but opens up the opportunity for considerable further expansion and will be a focus for ongoing drilling. The thickness and high copper content associated with a large conductive target enhances the potential around this new area.” The geophysical target intersected in CMR14-54 is more strongly conductive and significantly larger than the conductive area of drill-defined portions of South Wall zones located up-dip within the existing mineral resource. Non-conductive zinc-copper-barite mineralization extends peripheral to conductive mineralization in the up-dip zones and Constantine believes similar zonation may occur at depth, peripheral to the modelled conductive plate intersected by CMR14-54. CMR14-53, a second hole for which Constantine released results, targeted South Wall mineralization approximately 100 meters up-dip of CMR10-39 (2.5 meters of 1.1 percent copper and 4.5 percent zinc). Constantine said drill-hole deviation of CMR14-53 resulted in an intersection of similar tenor mineralization (2.6 meters grading 1.53 percent copper, 1.34 percent zinc and 18 g/t silver) that was within 20 meters of CMR10-39. These assay results are from the first two holes of a 10,000 meter drill program at the Palmer volcanogenic massive sulfide project. This drill program is part of a US$6.2 million budget for 2014 funded by partner Dowa Metals & Mining Co., Ltd. of Japan. Constantine also reports that construction has begun on a 2.5-mile (four kilometers) access road that will provide vehicle access to the base of the South Wall work area.

MANAGEMENT – Hecla Mining Co. July 22 reported the appointment of Mark Board to the position of vice president, technology and innovation. “Mark is a thought leader in his field, and, having established solid rock mechanic engineering teams and industry-leading practices at our Lucky Friday, Greens Creek and Casa Berardi mines, will focus on long-term innovations for these long-lived mines. His knowledge, passion for mining excellence and industry contacts enhance Hecla’s hundred-year leadership in underground mining,” said Hecla President and CEO Phillips Baker, Jr. Board was previously Hecla’s corporate director of geotechnical engineering. Prior to joining Hecla two years ago, Board worked at Itasca Consulting Group for 25 years as a mining and rock mechanics consultant to mining companies worldwide. He has a Ph.D. in geological engineering from the University of Minnesota and over 35 years of geotechnical engineering experience. Board was recently elected as a member of the National Academy of Engineering, one of the United States’ national academies that provide advice to the federal government. He is also the recipient of the 2013 SME Rock Mechanics Award and the University of Minnesota Outstanding Achievement Award.