Brilliant Mining Corp. hit an all time high of $2.85 on May 4th, reflecting strong gains in base metal prices last week.

 Nickel rose 10.6 per cent to $51,550 a tonne, after hitting a record at $51,600 Friday.
 Available stocks are still critically low at 3,354 tonnes while continued supply tightness is expected after disruption at the Voisey Bay nickel mine in Canada.

 Michael Widmer of Calyon  reported to  FT.com that stainless steel producers will cut output this year but this will not have a significant impact on nickel demand. He continues to say  that Calyon raised its 2007 average nickel price forecast from $34,580 to $44,080 and expects prices to average $50,000 in 2008

Base metals strength also inspired gains for gold, up 1.1 per cent to $688.50 a troy ounce this week.
Source: FT.com Financial Times
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It is a very busy exploration year in the area that surrounds Kugaaruk in central Nunavut. The total exploration budget for the region is least $15-million for 2007. 

Indicator Minerals has encouraging diamond counts from an area only a short distance from the community.  A 25.5 kg kimberlite float sample from the 2006 field season recovered 176 diamonds. 

While Indicator has yet to find the source of the boulder, the company has started a $1-million exploration program on the Barrow property and will drill test the best geophysical targets defined in 2005/2006.

The UN Security Council voted October 20 to leave the international ban on rough diamond exports from Liberia in place until the end of the year. (more…)

Here are some interesting points, taken from the November 9, 2006 “Top of the Morning” Email letter, on the current consolidation occurring in the gold mining sector. (more…)

Financings Closed for the month of November:       
       
Total Amount Raised:   C$859,270,249.00      
Total Flow Through:   C$143,885,157.00      
Total Base Metals:   C$370,578,917.00  (Between  74 companies)   
Total Precious Metals:   C$617,019,832.00  (Between  117 companies, 27  specializing in Gold)
Total Diamond:   C$47,187,440.00  (Between 15  companies)  
       
Top Brokers: ABG Sundal, Collier & Pareto with C$115,045,000.00      
 GMP Securities with C$115,000,000.00      
       
Top Regions:  Canada with 92, USA with 25 and Latin America with 21     

   Information collected from the Canadian Financing Bulletin