Month: October 2015

“In the third quarter of 2015, we set a new record for quarterly gold production and lowered unit costs which resulted in strong operating cash flow. This has allowed us to continue to invest in our exploration and development pipeline, which represents the long-term future of our business,” said Sean Boyd, Agnico Eagle’s Chief Executive Officer. “Our increased level of exploration activity continues to pay dividends as witnessed by the new discoveries at Kittila, Amaruq and El Barqueno. These projects are expected to be significant contributors to our production profile in the coming years,” added Mr. Boyd.

Chris Herald, President and CEO, stated, “We want to remain flexible in our approach – we will focus on gold, silver and zinc, but will not rule out other metals or corporate opportunities. Our targeted geographic range will be the safe jurisdictions in the Americas, but with an emphasis in Peru, Mexico, Canada and the U.S. We plan to focus on relatively early-stage exploration projects that have some drilling and potentially a defined resource, but we will also look at select greenfield projects and/or advanced exploration projects where our feasibility and permitting experience may be beneficial. We will continue to evaluate royalty opportunities on advanced projects, but we believe current royalty acquisition costs in the industry are generally fully valued and do not offer the opportunity for multiple returns on investment.”

Bacanora Minerals Ltd Wednesday said its pretax loss widened in the last financial year as it continues to progress its Sonora lithium project as fast as it can in order to retain its landmark deal with Tesla.

Rare Earth Minerals plc (LON:REM) today announced that with effect from 8:00 a.m. today, the Company’s ordinary shares will commence trading on the ISDX Growth Market under the ticker REM. For the avoidance of doubt, the Company will remain admitted to trading on AIM following admission to ISDX.

“In the third quarter we made several key decisions to reduce spending in light of the challenging market conditions to protect our business during this cyclical downturn”, said Darren Pylot, President and CEO of Capstone. “The decisions to cut operating and capital expenditures and to suspend work on the Santo Domingo project ensure that we maintain the value of our current business, while remaining in compliance with our debt covenants for the foreseeable future.”

GoGold Resources Inc. reports production from the Parral heap leach facility in Chihuahua, Mexico, of 307,822 of silver equivalent ounces at a cash cost of $5.44 for the quarter ending September 30, 2015. The Company has now produced in excess of one million silver equivalent ounces at Parral at a cash cost of $5.76 per silver equivalent ounce. The company believes that Parral is and will continue to be one of the lowest cost silver producers in Mexico.

Gold Resource Corporation declares its monthly instituted dividend of $0.01 per common share for October 2015 payable on November 23, 2015 to shareholders of record as of November 11, 2015. Gold Resource Corporation is a gold and silver producer with operations in Oaxaca, Mexico and exploration in Nevada, USA.

Yamana’s Executive Vice President, Finance and Chief Financial Officer Charles Main provided comments on the Transaction as follows: “We are very pleased to have completed this transaction. The streams that we have put in place do not have significant impacts on the projects to which they relate. They represent a modest portion of our copper and silver production which are secondary metals to Yamana and they do not impact our exposure to our primary metal which is gold. With this deal, and with the successful completion of a deal on Brio Gold, the goal and expectation is to be in a position to have generated cash proceeds well in excess of the amount required to complete the pay down of our credit facility prior to year end, which was one of our strategic objectives for the year…”