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Discussion Topic: MINING COMPANY ALERTS
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lmr |
02-24-2016 @ 5:44 AM
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Member
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Joined: Jul 2007
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:33 MUX McEwen Mining acquires property in Nevada for $450K cash
McEwen Mining announces that it has completed the purchase of the Afgan-Kobeh property in Nevada for $450,000 in cash.
Afgan-Kobeh is an attractive acquisition for McEwen Mining because it hosts a near surface, oxide gold resource in close proximity to its Gold Bar Complex which is expected to begin development in 2017. The objective is to develop the property into a satellite resource that can contribute to the production from Gold Bar. The property has immediate exploration potential with several historical higher-grade drill intersections open laterally and at depth. McEwen Mining plans to conduct a drill program beginning in May 2016 with the objective to increase the known mineralization.
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lmr |
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02-24-2016 @ 6:23 AM
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Joined: Jul 2007
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LSG.CN Lake Shore Gold reports Q4 EPS (C$0.01) ex-items vs FactSet C$0.00
Reports Q4:
Revenue C$61.7M vs FactSet C$64.9M
Cash flows from operating activities C$17.0M vs year-ago C$21.7M
Company had previously reported production on 8-Jan (see linked comment)
Tahoe Resources (THO.CN) transaction (announced 8-Feb, see linked comment)
Subject to shareholder approval on 31-Mar
Expected to close early in Q2 of 2016
Reaffirms 2016 production guidance
Following the release of a first resource at the 144 Gap Deposit on 8-Feb, the company will commence pre-production development to be followed by test stoping in H2 of 2016
Proceeds from the sale of ounces produced at the 144 Gap Deposit in 2016 will be accounted for as a reduction to capital expenditures.
Exploration expenditures in 2016 ~$12.0M versus $24.3M in 2015; primary targets during 2016 including the Whitney Project, Gold River and 144 South.
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lmr |
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02-24-2016 @ 7:34 AM
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08:04 LODE Comstock Mining announces additional high-grade intercepts at Lucerne (
Comstock Mining provided additional updates on the first phase of the company's Lucerne underground exploration activities, located in the historic Comstock District in Northern Nevada.
The company continues to define high-grade mineralization in the Quartz Porphyry mineralized mass , of increasing lengths, positioned in the center of the Lucerne geological corridor and mineral resources
Results include 0.823 opt Au (28.23 g/t) Over 36.5 ft. and Separately 7.500 opt Ag (257.11g/t) Over 5 ft.
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lmr |
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02-25-2016 @ 3:14 AM
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Joined: Jul 2007
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NORD.LN Nordgold reports FY net income $188.7M vs FactSet $158.3M
Reports FY:
EBITDA $519.8M vs FactSet $510.1M
FY16 outlook reaffirmed:
Production expected to be in the range of 950 - 1,010 koz.
AISC guidance of $800/oz - $850/oz
2016 capex is anticipated to be ~ $370M, including $70M to finalise construction and reach commercial level of production at Bouly mine and $125M for Gross construction.
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lmr |
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02-25-2016 @ 5:10 AM
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KGC Kinross Gold downgraded to neutral from buy at UBS
Cites valuation
Target increased however to $2.85 from $2.50
Analyst is Matt Murphy
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lmr |
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02-25-2016 @ 5:36 AM
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TXG.CN Torex Gold announces operational update for its El Limon-Guajes mine
Processing Plant
Ramp-up remains on track for the declaration of commercial production in Q2 of 2016
The first phase of the ramp-up is now completed. Reliability / utilization at design levels have been demonstrated
As of 22-Feb, 13,500 ounces of gold have been produced, and 7,288 ounces of gold have been sold at an average price of $1,196/ounce
Mining
Full commissioning of the El Limon Crusher and the RopeCon is anticipated in Q2 of 2016
Plant head grades have been above Life of Mine grade. However, it is too early to make definitive statements about reconciliation to the geological model
Finance
Total project cost estimate for the ELG Mine continues to be on budget at $800M
With respect to security, the project area has remained quiet, and the resettlement of the Real Del Limon community is expected to be concluded early in Q2 of 2016
El Limon Exploration - evaluating opportunities to extend the ELG mine life
Geological work on the El Limon deposit has focused attention on an intrusive sill that projects from the main intrusive body
Much of the EL Limon deposit lies above this sill and conditions below the sill are also positive for gold skarn mineralization
There are also several highly magnetic targets underneath this sill, which have not been tested yet
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lmr |
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02-25-2016 @ 6:13 AM
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07:13 AG First Majestic Silver reports Q4 adjusted EPS ($0.02) vs FactSet ($0.02)
Reports Q4:
Revenue $66.0M vs FactSet $66.2M
Note that Q4 production of 4.8M silver eqv oz was reported on 19-Jan
Repeats FY guidance:
Annual silver production is expected to increase to range of 12.0M to 13.3M ounces (or 17.8M to 19.8M silver equivalent ounces),
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lmr |
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02-25-2016 @ 9:08 AM
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GUY.CN Guyana Goldfields reports YTD production of 21,855 ounces of gold
Since reaching commercial production on 1-Jan-16, the company has produced 21,855 ounces of gold, and sold 22,551 ounces at an average realized price of $1,155 per ounce generating approximately $26.1M in pre-royalty, pre-tax revenue.
Company notes that it is on track to meet production guidance
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lmr |
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02-26-2016 @ 4:39 AM
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PGD.LN Patagonia Gold updates on Lomada and Cap-Oeste
Lomada Mine:
Mining operations at Lomada Mine to be suspended at the end May 2016
Gold production to continue until Q4 2017
Production levels normalised in year to date
Cap-Oeste Open Pit Heap Leach:
Heap leach project to be developed at Cap-Oeste mine
Initial development of facilities expected to commence shortly with initial production targeted for Q3 2016
2016 production estimated at 15,700 oz AuEq
Ramping up in 2017 to 67,000 oz AuEq
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lmr |
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02-26-2016 @ 4:42 AM
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AMA.LN Amara Mining announces the National Instrument 43-101 compliant Optimised Pre-Feasibility Study for its 100% owned Yaoure Gold Project in Cote d'Ivoire
Optimised PFS confirms Yaoure is a compelling gold development project in the current capital constrained market environment
Based on the updated Mineral Reserve estimate announced on 25-Jan-16, the optimised PFS successfully delivers an increased head grade, reduced upfront capital cost and robust economics at a conservative gold price
Optimised PFS, based on a smaller 4.5M tonne per annum processing plant, achieves significant improvements when compared with PFS key metrics
Post-tax internal rate of return of 38% and post-tax net present value of $555M based on a discount rate of 8% and a gold price of $1,200 per ounce
Project remains strong at a gold price of $1,000 per ounce with a post-tax IRR of 25% and a post-tax NPV of $281M
Average annual production of 248,000 ounces in years 1-5 and average annual production of 203,000 ounces(1) over a 15 year life of mine from a single open pit containing 3.2M ounces
Average head grade processed of 1.62g/t based upon Mineral Reserve estimate announced on 25-Jan-16
Upfront capital cost of $334M, including $44M contingency and $60M for an owner-operated mining fleet
LOM average total cash cost (including royalties and refining) of $618 per ounce and average all-in sustaining cost of $667 per ounce
Payback period of 2.1 years with mining throughout this period focused on the higher grade, continuous CMA zone where 72% of Yaoure's Proven Mineral Reserves are located
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