Month: October 2018

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.

“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.”

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

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”.

Octavio Alvídrez, Chief Executive Officer, said: “Gold production continues to beat expectations and we are once again revising our guidance upwards following another strong quarter, in particular at our Saucito and Noche Buena mines where volumes exceed targets. Though silver production is up against all comparable periods, we are revising full year silver guidance following continued challenges at the Fresnillo and Saucito mines. These are world class, tier one silver assets, and we remain both determined, and confident, given the actions we are taking, that we will deliver a better performance in the last quarter and in 2019.”