Month: March 2020

Newmont Corporation announced today that Coronavirus-related government restrictions in Peru will require safely ramping down mining operations at Yanacocha while gold production from leach pads and managing critical safety and environmental activities will continue.

Igor Gonzales, President, and CEO of Sierra Metals, commented, “We take the safety of our employees very seriously and have complied with the Government’s requests. We have sent 470 staff home from the Mine, while an emergency staff of 150 remain at the site. Management continues to follow the recommendations provided by the World Health Organization and Peruvian Health Authorities. We continue to monitor and seek clarity on the situation and will update shareholders and the Market further as things progress.”

“Social distancing and health education play a key role in our effort to protect employees and surrounding communities. At the corporate office, we have taken the pragmatic action of having employees work from home. At the operation, we have stopped international travelers from coming to site. Social distancing efforts at site are being implemented, which includes isolating delivery drivers. Aggressive cleaning of communal areas has also been ramped up. Education initiatives on infection prevention have been extended to the surrounding communities.

The Company intends to use the net proceeds of the Offering (i) to fund development and exploration expenditures at the Juanicipio Project and (ii) for working capital and general corporate purposes.

GREAT PANTHER MINING LIMITED announces that it will reschedule its 2019 fiscal year earnings release, previously set for today after market close.

For the full year 2019, production was 174,420 gold equivalent ounces compared to 175,640 GEOs in 2018.

Due to the emerging public health impact of the coronavirus outbreak (COVID-19), and to support the health and wellbeing of the Company’s associates, employees and shareholders, the Company has made the decision to change the format of the Annual Meeting of Shareholders to a virtual webcast.

David Wolfin, President and CEO commented, “This is a wildly unprecedented time, and we would like to ensure our shareholders, stakeholders, and entire work force that operations continue as normal as we monitor the situation daily. The mine site has restricted external visitors and we have had no one at the mine-site test positive for COVID-19. Most of our mine workers come from the local communities surrounding the property where movement of themselves and their families is limited. In addition, we have two medical doctors at site monitoring and educating our labour force and employees daily.”

“This is the first full quarter of production benefiting from the reduced operating expenses and more profitable processing regime” reported Robert Eadie, C.E.O. and President of the company. “We report a significant increase in our profit from mining operations and related cash flow.”