Mexican mining company Industrias Penoles on Friday reported a 58.4 percent drop in third-quarter profit due to a fall in metal prices and a rise in costs for investment in expansion and exploration.
Carlos Slim has often been described as having a Midas touch but his very own gold mining company, Minera Frisco, didnt make much money in the third quarter from producing the yellow metal.
Westminster Resources Ltd. announced that it has negotiated a non-brokered private placement of 10 million shares at $0.10 per share for gross proceeds of $1 million with Capstone Mining Corp.
Canadian mining company Excellon Resources said Friday it hopes that peace has been restored to its Mexican mine after it dismantled a protest camp it says was set up on property it owns.
Mexican mining company Minera Frisco SAB (MFRISCO.MX, MSNFY) made a net profit in the third quarter, compared with a year-ago loss, as currency gains offset lower revenue and operating profits.
Starcore International Mines Ltd. has filed the results for the year ended July 31, 2012, for the Company and its mining operations. The Company reports revenues of $57 million, earnings from mining operations of $21.7 million and earnings for the year of $14.34 million, which includes a net $1.33 million loss in financing costs due to net losses in gold forward sales contracts up to May 15th , 2012, when the gold forward sales contracts were repurchased by the Company at a close out price averaging US$1,562 per ounce. The basic and diluted income per share for the year ended July 31, 2012 was $0.11 and $0.10, respectively.
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