FINANCE – Darnley Bay Resources Ltd. Dec. 30 said it has closed the final tranche of a previously announced non-brokered private placement of special warrants and flow-through special warrants. The additional tranche generated aggregate gross proceeds of C$25,500 through the issuance of 1.7 million flow-through special warrants at an issue price of C1.5 cents. The offering generated gross proceeds of C$616,474.98 through the issuance of 16.07 million special warrants and more than 25.03 million FT special warrants. Each FT special warrant will entitle the holder thereof, for no additional consideration, to receive one unit, comprised of one common share in the capital of the company, issued on a flow-through basis under the Income Tax Act (Canada), and one half of one common share purchase warrant. Each special warrant will entitle the holder thereof, for no additional consideration, to receive one unit, comprised of one common share and one warrant. Each warrant shall entitle the holder to purchase, for a period of three years from the date the warrants are issued, one common share at an exercise price of C3 cents. The securities to be issued are subject to a four-month hold period, and the offering is subject to the approval by the TSXV. Each special warrant and FT special warrant shall be automatically exercised for one unit or FT unit, as applicable, upon satisfaction of certain conditions that must be satisfied within six months of the closing date of the offering.

Darnley Bay also reported a five-for-one consolidation of its common shares, effective Dec. 31, and on that date common shares of the company were to commence trading on the TSX Venture Exchange on a post-consolidated basis. Darnley Bay currently has slightly more than 136.5 million common shares issued and upon completion of the consolidation, the company will have about 27.3 million common shares outstanding. The change in the number of issued and outstanding common shares that would result from the consolidation would not materially affect any shareholder’s percentage ownership in Darnley Bay, although such ownership would be represented by a smaller number of common shares. The company will not be changing its name in connection with the consolidation.

MANAGEMENT – Williams Creek Gold Ltd. Dec. 26 reported that Jim Wyant has retired as CEO of the company. Williams Creek Gold thanked. Wyant for his years of service to the company and on a personal note Dr. Williams Chairman Hans Black, Ph. D., added his personal thanks for Wyant’s extraordinary efforts. Stephen Leahy has been appointed as the new CEO of the company, effective Dec. 26. Leahy previously was serving on Williams Creek Gold’s board of directors. Leahy has extensive experience in the mining industry, with over two decades as chairman and CEO of North American Tungsten Corporation Ltd. He also has served as president of the International Tungsten Industry Association for two years, and has been a member of the ITIA Executive Committee for eight years. In addition, Leahy served as director of the Mining Association of Canada from 2011-2013. Chairman Black, said, “We are extremely fortunate to have someone of Stephen Leahy’s reputation and experience joining our board. We believe that the attributes he brings should prove invaluable as we move forward with our developmental plans.”

ABORIGINAL RELATIONS – De Beers Canada Inc. and Mountain Province Diamonds Dec. 23 reported that they entered into an impact benefit agreement with the Deninu Kué First Nation for the proposed Gahcho Kué diamond mine, a joint venture between De Beers (51 percent) and Mountain Province Diamonds (49 percent) located 280 kilometers (174 miles) northeast of Yellowknife, Northwest Territories. De Beers is the operator of the Gahcho Kué Project. The IBA puts in place a framework for De Beers and the Deninu Kué First Nation to work together over the life of the mine to develop economic, environmental and cultural programs with Deninu Kué First Nation members. “De Beers is committed to sustainable development and through this agreement the Deninu Kué First Nation members can access new employment, training and business opportunities while ensuring strong environmental and cultural programs,” said Glen Koropchuk, chief operating officer for De Beers in Canada. “We want to thank the negotiating teams on both sides for their hard work in concluding the IBA.” Chief Louis Balsillie said, “On behalf of Deninu Kué First Nation, I am extremely pleased to be entering into an Impact Benefit Agreement with De Beers Canada Inc. and Mountain Province Diamonds. This is a historic moment for Deninu Kué First Nation to be acknowledged by the mining industry and a very important step towards a self-sustaining future.” Mountain Province CEO Patrick Evans said, “This agreement is the final IBA for the Gahcho Kué Project and collectively, these agreements provide a firm foundation for cooperation that will be mutually beneficial and promote the interests of all parties.” Gahcho Kué will employ close to 700 people during the two years of construction and about 400 people during its operational phase.

FINANCE – Avalon Rare Metals Inc. Dec. 19 said it has closed a non-brokered private placement of nearly 9 million flow-through common shares at a price of C27 cents per flow-through share for gross proceeds of about C$2.425 million. Secutor Capital Management Corp., and its affiliates, acted as a finder for the company, and were paid a cash commission of 6 percent of the gross proceeds related to non-insider subscribers and issued non-transferrable finder’s warrants equal to 6 percent of the number of flow-through shares sold to non-insiders, with each finder’s warrant being exercisable to acquire one common share of the company at a price of C27 cents, commencing six months from the closing date for a term of 24 months from the closing date. An insider of the company subscribed for 185,000 FT shares. Pursuant to Canadian securities laws, the securities issuable under the private placement are subject to a hold period which expires on April 20, 2015. Avalon President and CEO Don Bubar said, “We are pleased to have completed this financing at a significant premium to our current share price. The proceeds from the private placement will provide the company with sufficient funding to complete all of our currently planned exploration work program commitments for fiscal 2015.” Proceeds from the private placement will be used to fund eligible exploration work on Avalon’s East Kemptville tin-indium project in Nova Scotia, its Separation Rapids lithium minerals project in Ontario and its Nechalacho rare earth elements project at Thor Lake in the Northwest Territories.