Day: October 24, 2018

“The third quarter included many positive changes for New Gold that will help reposition the Company as a leading, Canadian-focused intermediate gold producer. We strengthened the technical experience of the Board and senior executive team and announced the sale of the Mesquite Mine, which improves our cash position, secures the liquidity to complete the ramp-up of Rainy River, and allows us to focus exclusively on our two producing assets, Rainy River and New Afton, and unlocking value for our Blackwater project,” stated Renaud Adams, President and Chief Executive Officer.

Agnico Eagle Mines Limited today reported quarterly net income of $17.1 million, or $0.07 per share, for the third quarter of 2018.

“Steady project execution in the third quarter during a transition period at our flagship Peñasquito mine continued a process of de-risking our 20/20/20 production growth and cost reduction plans. The commissioning of the PLP at Peñasquito, ongoing development of the Materials Handling system at Musselwhite and the near completion of the ramp up at both Cerro Negro and Éléonore are expected to lead to significantly improved gold production and costs in the fourth quarter of 2018”, said David Garofalo, President and Chief Executive Officer of Goldcorp. “At the same time, with our renewed focus on exploration, we essentially replaced gold reserve depletion across our operating assets, establishing a strong foundation to achieve our gold reserve target of 60 million ounces by 2021.”

Peñasquito – Proven and probable gold mineral reserves as of June 30, 2018 totaled 9.1 million ounces, compared to 9.0 million ounces as of June 30, 2017. Production depletion of 0.6 million ounces was entirely offset by mineral resource conversion and mine design changes. Exploration at Peñasquito is now focused on the evaluation of a portfolio of 23 early stage targets which were highlighted through generative work in 2017 and which the Company expects will drive the future success of the district.

Upon recently accepting the position of President and CEO of Aura, Robert Johansing stated, “A shift in Aura’s direction is necessary. We know that our Greyhound project is in good hands and Taviche needs a partner to take the project to the next level of discovery. Aura’s new strategy will focus on adding projects in other jurisdictions where we can maximize the proportion of our investments to be spent on exploration in order to maximize potential value creation for our shareholders”.