Dia Bras Exploration Inc. (TSX VENTURE:DIB) reports results from its Bolivar pilot-mining and Cusi advanced development programs in Chihuahua, Mexico, for the fourth quarter ending December 31, 2010 and cumulative results for the full year.
Primero Mining Corp. (“Primero” or the “Company”) today reported financial and operational results for the fourth quarter and year ended December 31, 2010. The Company produced a total of 37,400 gold equivalent ounces(1) at a total cash cost(2) of $642 per gold equivalent ounce, or $525 per gold ounce on a by-product basis, for the period August 6 to December 31, 2010. This generated the Company’s first revenues, totaling $60.3 million in 2010 and transformed Primero from an exploration company to a gold producer.
Azure Minerals has been granted a trading halt by the ASX pending a capital raising announcement, with the company’s shares in pre-open.
Canadian gold mining company Yamana Gold, Inc. reported Wednesday that profit for the fourth quarter soared from last year, reflecting higher gold prices, lower unrealized foreign exchange losses as well as stock-based and other compensations. Excluding items, adjusted earnings per share surged and came in above analysts’ expectations by a penny. The company reaffirmed its production outlook for the full-year 2011.
NEWJERSEY (Commodity Online) : National Inflation Association maintains a bullish outlook for GGI or Garibaldi Resources Corp (TSX Venture: GGI), which is up 7% Tuesday to $0.44.
NEW YORK (Commodity Online): As silver prices hit 31-years high this week, stocks of silver mining companies have become the most sought after destination for investors.
Reuters reported that Mexico’s mining chamber said at least 50 silver, gold, copper and zinc projects are attractive targets for mergers or acquisitions and high metals prices will draw USD 4.4 billion in mining investment to the country this year.
Toronto stocks edged up at open Tuesday amid buying in gold and energy stocks. The S&P/TSX Composite Index added 20.65 points or 0.15 percent to 14,143.76.
Riverside Resources is a gold and silver explorer focused on developing a portfolio of high potential projects in Mexico, and the United States. Riverside utilizes the Prospect Generator business model to ally themselves with strategic joint venture partners that will expose the company to substantial resource growth while limiting capital dilution.
Wall Street turned a cold shoulder to Pan American Silver (PAAS) this morning, as a flurry of price-target cuts and a downgrade hit the shares. RBC lowered its price target to $43 from $46, while rating the stock an “outperform.” Cormark cut the stock to C$38 from C$39, while CIBC lowered its forecast to $48 from $54. UBS trimmed its price target to $49 from $50. Meanwhile, TD Newcrest downgraded the shares from “buy” to “hold,” and dropped its price target to $41 from $45.
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