others were simply cancelled altogether. Underneath the bunker mentality caused by events of the second quarter, con- trarians were busy looking for deals, with the goal of ac- quiring high quality mineral properties when prices ex- pectations were low. Table 1 is a summary of new miner- al property acquisitions that were finalized in 2018. These new acquisitions brought seven new corporate entities to Alaska and com- bined they were part of 10 of the 14 new acquisitions listed above. These new acquisitions ranged from early stage “grass roots” prospects to the sale of the operating Pogo gold mine, one of Alaska’s largest gold producers. The commodities acquired range from gold and copper-gold to lead, zinc, sil- ver, nickel, platinum and pal- ladium. The acquisition costs ranged from the $25,000 to stake new claims to $260 million to ac- quire the Pogo mine. And last but not least, the exploration dollars spent by these new players helped Alaska toward its second consecutive year of increased exploration spend- ing. Commodity prices stabilized somewhat in the fourth quar- ter of 2018 and as we head into an unsettled 2019, they remain in a reasonable trading range. As always, mineral explora- tionists remain optimistic but with the crystal ball for 2019 a bit murky due to internation- al, national and Alaska-centric political and economic issues, Alaska’s superb mineral en- dowment will continue to at- tract and retain new interest, new minds and new money.
Alaska Exploration Spending Increases Annual exploration spending in Alaska, 2000 through 2018. Exploration expenditures in 2018 are estimated and are expected to be slightly above those of 2017 when all figures are compiled. Data from 2000 through 2018 from Alaska Div. Geological and Geophysical Surveys, 2018 estimated ex- penditures from Avalon Development Corp.
Alaska Mining Locations Location map for mines and prospect in Alaska. Data from public sources, Avalon Development Corp., 2019.
January 2019
The Alaska Miner
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