Month: April 2019

“We are encouraged by the progress made at Rainy River during the first quarter as we re-position the operation for efficient and sustainable mining. Over the course of the year, we expect to drive further efficiencies throughout the operation with the objective of delivering free cash flow starting in late 2020,” stated Renaud Adams, CEO. “The New Afton Mine reported another strong quarter of operating results as the team further advanced the development of the C-zone. We are particularly encouraged with the organic growth potential of the D-zone with the first hole of the exploration drilling program intersecting 140 metres of mineralization located 360 metres below the C-zone and a second hole is currently underway.”

Capstone Mining Corp. announced its production and financial results for the three months ended March 31, 2019. Total production from continuing operations for Q1 2019 totaled 41.4 million pounds of copper at a consolidated C1 cash cost1 of $1.56 per pound, representing a 20% increase in production and 20% reduction in costs versus the same period last year. Q1 2019 net income was $8.3 million, adjusted EBITDA from continuing operations1 was $41.8 million and operating cash flow before changes in working capital1 was $30.7 million.

First Mining Gold Corp. is pleased to announce the appointment of Ken Engquist as the Company’s new Chief Operating Officer, effective April 29, 2019. Mr. Engquist will be based at the Company’s head office in Vancouver, British Columbia, and will be responsible for leading the technical and operations team at First Mining.

Teck Resources Limited announced today that it will pay an eligible dividend of $0.05 per share on its outstanding Class A common shares and Class B subordinate voting shares on June 28, 2019, to shareholders of record at the close of business on June 14, 2019.

Enrique Escalante, GCC’s Chief Executive Officer, commented: “The underlying trends in our business are strong in each of the markets where we operate in the U.S. and Mexico. The U.S. operations slowed with severe inclement weather continuing into the first quarter. However, there is a strong backlog and we are picking up the pace as the weather conditions improve. We expect to end the year in line with our guidance as the first quarter historically represents around 12% of the results for the year. In Mexico we turned in sales of 8.1% on increased volumes and prices and on top of the more than 18% increase in the prior year’s first quarter. Chihuahua continues to outperform stronger than what we anticipated, driven primarily by robust mining shipments, industrial maquiladora plants and warehouse construction and middle-income housing starts.