Month: October 2015

UPDATE 1-Profit at Mexico’s Penoles tumbles 86.6 pct in 3rd qtr

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http://www.reuters.com/article/2015/10/28/indust-penoles-results-idUSL1N12S3VK20151028

Oct 28 (Reuters) – Mexican mining company Penoles on Wednesday reported a third-quarter net profit of 155.6 million pesos ($9.19 million), down 86.6 percent from the same period a year earlier as a slump in the peso pushed up costs.

In the July-September period of 2014, the company posted a profit of 1.16 billion pesos.

Sales at the company rose by 11.5 percent to 17.3 billion pesos from the third quarter of 2014.

Drilling Permit Granted for Mesa de Plata

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Click to access 1490739.pdf

Azure Minerals Limited (ASX: AZS) (“Azure” or “the Company”) is pleased to advise that it will recommence drilling within the next few days on the Mesa de Plata silver discovery after receiving approval for a comprehensive Reverse Circulation (RC) drill program.

Following the discovery of extensive, high grade silver mineralisation at Mesa de Plata (refer ASX release 16 September 2015), part of the Alacrán Project, located in the northern Mexican state of Sonora, Azure has planned a follow-up, close-spaced RC drill program to define the extent and grade of the mineralised system.

Canarc Appoints New Board Member

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http://www.fscwire.com/newsrelease/canarc-appoints-new-board-member-0

Vancouver, British Columbia (FSCwire) – Canarc Resource Corp. (“Canarc” or “Company”) (TSX: CCM, OTC-BB: CRCUF, Frankfurt: CAN) is pleased to announce that Mr. Akiba Leisman has accepted an invitation to join the board of directors of Canarc, effective on the closing of the Oro Silver Resources Ltd. acquisition agreement signed Oct 8, 2015.

Mr. Leisman’s extensive experience in capital markets and mining will complement the skill sets of Canarc’s current board members. The appointment is subject to the approval of the Toronto Stock Exchange.

 

The Company is now focused on advancing the El Compas Project into production next year.

Goldcorp Delivers Strong Free Cash Flow as Third Quarter Gold Production Increases 42%

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http://www.juniorminingnetwork.com/junior-miner-news/press-releases/530-tsx/g/13049-goldcorp-delivers-strong-free-cash-flow-as-third-quarter-gold-production-increases-42.html#.VjJORuSFPIU

VANCOUVER, Oct. 29, 2015 /CNW/ – GOLDCORP INC. (TSX: G, NYSE: GG) today reported record third quarter gold production1 of 922,200 ounces, an increase of 42% compared to gold production of 651,700 ounces in the third quarter of 2014.  Adjusted quarterly revenues1 were $1.3 billion.  Adjusted operating cash flow1,2  was $374 million, compared to $399 million for the third quarter of 2014. Free cash flow3 was $243 million, compared to negative free cash flow of $355 million for the third quarter of 2014.

New Gold´s Third Quarter delivers 31% increase in gold productio at lower costs

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Click to access article_10282015172049.pdf

October 28, 2015 – New Gold Inc. (“New Gold”) (TSX:NGD) (NYSE MKT:NGD) today announces its 2015 third quarter operational and financial results.

“New Gold moved from strength to strength during the third quarter,” stated Randall Oliphant, Executive Chairman. “Our gold production increased significantly, our costs decreased and we further strengthened our balance sheet.

Agnico Eagle Reports Record Third Quarter 2015 Gold Production; Strong Operating Performance Leads to Increased Production Guidance and Reduced Costs for 2015

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http://www.juniorminingnetwork.com/junior-miner-news/press-releases/1060-tsx/aem/13023-agnico-eagle-reports-record-third-quarter-2015-gold-production-strong-operating-performance-leads-to-increased-production-guidance-and-reduced-costs-for-2015.html#.VjFa5uSFPIU

TORONTO, Oct. 28, 2015 /CNW/ – Agnico Eagle Mines Limited (NYSE: AEM, TSX:AEM) (“Agnico Eagle” or the “Company”) today reported quarterly net income of $1.3 million, or net income of $0.01 per share for the third quarter of 2015.  This result includes losses on financial instruments of $16.6 million ($0.08 per share), a non-cash foreign currency translation loss on deferred tax liabilities of $8.1 million ($0.04 per share), various mark-to-market and other adjustment losses of $9.5 million ($0.04 per share), non-cash stock option expense of $4.1 million ($0.02 per share), non-cash foreign currency translation losses of $0.9 million (nil per share), and non-recurring gains of $1.3 million ($0.01 per share).  Excluding these items would result in adjusted net income of $39.2 million or adjusted net income of $0.18 per share for the third quarter of 2015.  In the third quarter of 2014, the Company reported a net loss of $15.1 million or a net loss of $0.07 per share.

Alix Acquires 22,625 Hectares Adjoining Bacanora’s “Sonora Lithium Project” Located in Sonora, Mexico

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http://www.canadianminingjournal.com/press-releases/story/?id=1003716483

Vancouver, British Columbia (FSCwire) – ALIX RESOURCES CORP. (“Alix” or the “Company”) (AIX-TSX:V) (37N–FRANKFURT) is pleased to announce the acquisition of a 100% interest in two large exploration concession applications covering 22,625 hectares adjoining Bacanora Minerals Ltd. (BCN-TSX:V) Sonora Lithium Project.