The illegal 57-day blockade of part of the ArcelorMittal facilities in Mexico by the Mining Union of Congressman Napoleón Gómez Urrutia impacted an 11.7 percent reduction in steel shipments, a reduction of $185 million in billing and a loss of $100 million in EBITDA, according to ArcelorMittal’s global quarterly report, analyzed by SteelOrbis.
“Mineral Hill was producing some of the highest-grade silver-rich CRD mineralization ever found in this part of Nevada well before its neighbors Eureka, Cortez and Railroad were even discovered, so acquiring these patented claims fills an important missing piece in the Gryphon property puzzle,” said Jorge Ramiro Monroy, CEO of Reyna Silver.
“Our pipeline of attractive strategic growth projects, which combined with recent acquisitions, have the estimated potential to increase EBITDA by $2.0 billion, are starting to come on-line. The Vega CMC is ramping up and the 1GW renewables project in India has now started commissioning, with several other projects due to complete this year.”
Sandstorm Gold Ltd. has released its financial results for the second quarter ended June 30, 2024.
John MacKenzie, CEO of Capstone, commented, “We had another solid quarter in Q2 as we executed on our operating plans and delivered strong financial results. At our Mantoverde Development Project, we are making excellent progress ramping up to nameplate production levels, which will be transformational to our results moving forward. Yesterday we released an updated feasibility study for our fully-permitted Santo Domingo project, which sits 35km northeast of Mantoverde, and represents the next major phase in our plan to create a world class district in the Atacama region of Chile.”
First Majestic Silver Corp. is pleased to announce the Company’s unaudited condensed interim consolidated financial results for the second quarter ended June 30, 2024.
“During Q2 2024, the construction of the Terronera project continued to make excellent progress, with significant advance of the upper plant platform surface infrastructure. Staying on track for Q4 2024 commissioning reflects our team’s planning, execution and dedication while ensuring financial stability and operational momentum.”
As previously disclosed, the Company does not have sufficient resources to meet its expected cash needs over the next twelve months. As of June 30, 2024, the Company had cash and cash equivalents of approximately $1.4 million. On the same date, it had accounts payable and other current liabilities of approximately $4.8 million.
“All business units continue their activities and no material operational or financial impact has been experienced or is foreseen. This will be assessed on an ongoing basis until the situation is resolved,” reads the notice.
“We continue to deliver strong and reliable operational results which, combined with higher gold prices, drove record operating margin and free cash flow for the third consecutive quarter. As a result of the excellent performance of our operations through the first half of 2024, we are highly confident we will achieve our full year production and cost guidance,” said Ammar Al-Joundi, Agnico Eagle’s President and Chief Executive Officer.
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