Mali: Altus Strategies Announces Increase In Resources For The Diba Gold Project

Gold resources from the Diba project in Mali have increased, now totaling more than 400,000 ounces in the indicated and inferred categories. This is what Altus Strategies, the asset holder, said on Monday, adding that these figures will soon be improved thanks to new drilling.

In Mali, the mining company Altus Strategies released a new resource estimate for the Diba gold project on Monday. Made by the engineering company Mining Plus as part of the prefeasibility study for the project, this update indicates a 637% increase in resources classified as "inferred".

The latter went from 32,500 ounces of gold to 5.4 million tonnes of resources grading 1.06 g / t of gold, or 187,000 ounces. At the same time, resources classified in the "indicated" category are now 4.8 million tonnes grading 1.39 g / t gold, or 217,000 ounces.

"There is significant exploration potential for new discoveries at Diba, with seven priority prospects still to be systematically tested by drilli…

Bombardier Becomes Penny Stock Again

The title of the Quebec aircraft manufacturer fell below $ 1 on the Toronto Stock Exchange, falling more than 11% from the previous day. It is the first time since the end of January 2016 that Bombardier shares are listed in cents. Since 2:25 pm, the title flirted with the dollar, also dropping down to $ 0.98. This is more than 81.7% down from its most recent high of $ 5.41 on July 8, 2018.

Bombardier Becomes Penny Stock Again

Bombardier had a difficult start to the year. Following the unveiling of the first A220 aircraft, the former Air Canada-styled C-Series, the company revised its fourth quarter results downward. When the markets closed on January 16, 2020, the stock lost more than 31% on the Toronto floor.

The aircraft manufacturer justified this revision by measures taken to redress its Transport division, a little less than a month before the planned date of the release of its results. Recall that the company was juggling with debt of more than 9.3 billion US dollars (G $ US) according to analysts' estimates.

For almost a month, there have been several rumors of Bombardier's next actions. Some were betting on the sale of the business jet division to the American Textron, while others believed that Alstom would grapple with the railroad division of the Quebec manufacturer.

On February 12, Bombardier confirmed that Airbus and Quebec would buy out its stake in the controversial A-220 program. The transaction raised $ 591 million US, and relieved him of a mandatory payment of $ 700 million US to the coffers of the A-220.

Five days later, Bombardier's rail division was sold to French Alstom for US $ 8.2 billion. The business aircraft manufacturer received an envelope that contained between US $ 4.2 billion and US $ 4.5 billion in this transaction.