FINANCE – Chieftain Metals Corp. Dec. 23 said Royal Gold Inc. has requested the repayment of a US$10 million advance it made to Chieftain in December 2011 and is not proceeding with a gold and silver streaming agreement, entered into in July 2014. Chieftains said it is making arrangements to repay the US$10 million with a bridge loan announced by the company in July. Chieftain says it is in discussions with several parties to fund the construction of the Tulsequah Chief volcanogenic massive sulfide project in western British Columbia.

COPPER/GOLD – Seabridge Gold Dec. 22 reported that Federal Minister of the Environment Leona Aglukkaq has issued an Environmental Assessment Decision Statement for Seabridge’s KSM copper-gold project in northwestern British Columbia. Seabridge says the statement endorses the conclusions of the KSM Comprehensive Study Report prepared by the Canadian Environmental Assessment Agency, which found that the KSM project is not likely to result in significant adverse effects on the environment. The federal decision is consistent with the Province of British Columbia’s approval of KSM which was received in July. Seabridge Gold Chairman and CEO Rudi Fronk said, “Minister Aglukkaq’s decision substantiates the findings of the Government of British Columbia and our own firm belief that KSM is a well-designed, environmentally responsible project which is technically feasible and offers significant economic benefits to both British Columbia and Canada. The federal and provincial approvals impose important conditions on the development, operation and closure of KSM which we fully support. In addition to meeting these requirements, we pledge to continue the open, forthright and respectful dialogue with all interested parties that characterized the approval process. We regard these approvals as initiating the next step in our deepening relationship with BC’s northwest in which we strive to ensure that KSM meets the legitimate expectations of local communities as well our shareholders.” KSM underwent a joint harmonized federal-provincial environmental assessment review as outlined by the British Columbia Environmental Assessment Act and the Canadian Environmental Assessment Act. This process began in March 2008 with the initiation of the provincial review; the federal review process began in July 2009. The provincial process concluded in July 2014 with the receipt of the B.C. Environmental Assessment Certificate.

FINANCE – Carmax Mining Corp. Dec. 22 reported that it has agreed to make a non-brokered private placement of 3 million to 10 million flow-through units of Carmax at a price of C5 cents per unit. Each unit consists of one share and one callable non flow-through purchase warrant which allows the holder to purchase one additional Carmax share at C10 cents for each warrant held. The warrants, which are set to expire two years from the date of the closing of the private placement, are subject to an early acceleration in the event the company’s shares trade at a price of C15 cents per share or greater for a 30-day trading period after the four month hold period expires on the securities sold. Under such conditions, Carmax may provide notice to exercise the warrants within 21 days failing which the warrants will thereafter expire. On Dec. 23, Carmax closed the first tranche of 3 million flow-through units for gross proceeds of C$150,000. The securities will be issued subject to a hold period expiring April 24, 2015. The proceeds of the private placement will be used by the company to fund the continued development of the Eaglehead copper-molybdenum property located in the Liard Mining Division of northwestern British Columbia.

MOLYBDENUM – Avanti Mining Inc. Dec. 1 announced changes to senior management and board of directors in support of the continued development of the Kitsault Molybdenum project in northern British Columbia. The company also consolidated its shares on an up to 35-1 basis and changed its corporate name to Alloycorp Mining Inc. Peter Mah has been appointed chief operating officer of the company and president of Avanti Kitsault Mines Ltd. Mah replaced Jeff Lowe, who retired from the company on Dec. 31. Mah is a professional engineer with more than 23 years of practical mine operations and development experience spanning project studies, construction and operations management with some of the industry's largest major producers. Most recently, he was the chief operating officer and executive vice president at Luna Gold Corp. “Peter is an accomplished professional engineer and seasoned executive with a proven track record of leading the construction, development and operation of projects and mines on an international scale. Peter's deep industry experience will be a critical asset as we continue to develop the longer term growth strategy of the company,” said Alloycorp President and CEO Gordon Bogden. Avanti also announced the appointment of Daniella Dimitrov, Ken Pickering and John Stubbs to the board of directors. In addition, Peter Roberts retired from the board, effective Dec. 31. Dimitrov has more than 20 years of capital markets, financial, operational and regulatory experience. She is currently the chief financial officer of Orvana Minerals. Pickering is a retired professional engineer and mining executive with over 40 years of experience in the natural resources sector spanning operations in Canada, Chile, Australia, Peru and the United States with particular skills in major project development and mine operations management. Stubbs is a retired chemical engineer with more than four decades of experience in the natural resources sector spanning all aspects of project management including development, execution, assurance, commissioning and operations. At a special meeting held on Nov. 28, shareholders also approved the corporate name change and a consolidation of the issued and outstanding common shares of the Company on the basis of up to 35 pre-consolidation common shares for each one post-consolidation common share. The consolidation is subject to final approval of the consolidation ratio by the board, and the approval of the TSX Venture Exchange. Alloycorp’s Kitsault project, located some 140 kilometers (85 miles) north of Prince Rupert, B.C., is expected to produce more than 11,000 metric tons of molybdenum and 1 million ounces of silver annually, over a 15-year mine life.