Month: July 2015

Norvista Capital Corporation announces the following appointments to its management team and Board of Directors. Mr. Gerald P. McCarvill, after leading Norvista and its predecessor company since 2008, has tendered his resignation as Chairman and Chief Executive Officer of the Company. Mr. Stan Spavold, currently a director and Chair of the Audit Committee of Norvista, has been appointed as Chairman of the Board and Mr. Donald H. Christie, currently President and Chief Operating Officer of Norvista, has been appointed as President and Chief Executive Officer of the Company.

“Goldcorp’s excellent second quarter results underscore the growing strength and quality of our mine portfolio,” said Chuck Jeannes, Goldcorp President and Chief Executive Officer. “Higher gold grades at Peñasquito and a continued strong ramp-up at Cerro Negro drove record quarterly gold production and more than offset the slower-than-planned ramp-up at Éléonore. In addition, a continued focus on cost efficiency and productivity enhancements along with favorable currency effects continued to push costs lower…”

Bruce Bragagnolo, CEO of the Company, stated “We reached a record stacking rate for the quarter of 24,754 tonnes per day. The increase in throughput has helped to offset the decrease in grade from the prior year. Gold recoveries are projected to be faster in Q3 2015 as we move from the top of the current pads to new pads. Construction of new leach pads is complete and the Company is now stacking ore on the new pads. This will result in faster recoveries in H2.

Morro Bay Resources Ltd. announces that it is arranging a non-brokered private placement for a minimum of 1,000,000 and a maximum of 40,000,000 units. Each unit will be comprised of one common share of the Company and one common share purchase warrant.

“With continued strong operating performance, favourable local currency foreign exchange rates, and near-term opportunities to increase production at several of our mines, we remain well-positioned to manage the current price volatility in the gold market”, said Sean Boyd , Agnico Eagle’s Chief Executive Officer. “In these challenging times, we will continue to focus on reducing costs and we will remain measured in our approach to managing and growing our business”, added Mr. Boyd.

Keith Neumeyer, Chairman of First Mining stated, “We welcome Derek as a new member of our management team. His experience, contacts, and knowledge with leading investor relations initiatives in the mining sector will be important as we continue to build our team and grow shareholder value through mineral asset acquisitions.”

“The second quarter further solidified our company’s strong start to the year,” stated Randall Oliphant, Executive Chairman. “Our gold production year-to-date has been consistent with our plans. After investing in the mill expansion and waste stripping at our open pit operations in the first six months of 2015, we are now positioned to benefit from higher gold production coupled with lower costs in the second half of the year. At the same time, we further increased our financial flexibility by $175 million with the recently announced Rainy River streaming transaction. We look forward to the acceleration of construction activity at Rainy River through the remainder of this year and into 2016.”

“In the second quarter of 2015 we continued our focus on flexibility and execution,” said Darren Pylot, President and CEO of Capstone. “We maintained our financial flexibility by entering into zero-cost collars for 36,000 tonnes of copper production at a minimum price of US$2.60 per pound to the end of Q3 2015 to ensure we can execute our 2015 capital program in this difficult copper price environment.”