Month: July 2016

Agnico Eagle. Mid-Year 2016 Exploration Update

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http://ir.agnicoeagle.com/English/investor-relations/news-releases/news-release-details/2016/Mid-Year-2016-Exploration-Update-Expansion-of-Whale-Tail-and-V-Zones-at-Amaruq-Initial-Results-Reported-from-the-Odyssey-Zone-New-Zones-of-Mineralization-Outlined-at-Madrono-and-El-Barqueno-in-Mexico-Sisar-Zone-Continues-to-Expand-at-Kittila/default.aspx

TORONTO, July 27, 2016 /PRNewswire/ – Agnico Eagle Mines Limited (NYSE:AEM, TSX:AEM) (“Agnico Eagle” or the “Company”) is pleased to provide an update on its 2016 exploration activities at the Amaruq project in Nunavut, the Sisar Zone at Kittila, the Barsele project in Sweden, the 50% owned Odyssey prospect adjoining the Canadian Malartic mine, the Madrono prospect adjoining the Pinos Altos and Creston Mascota operations and the El Barqueno project in Mexico.  Highlights include:

 

  • New zones of mineralization outlined at the Madrono prospect – Agnico Eagle has undertaken a first campaign of drilling on this recently acquired property surrounded by its Pinos Altos mine property, just 0.5 kilometres from the Creston Mascota pit.  Mapping and sampling of historical mine workings have quickly identified high-potential targets.  The initial drilling has returned up to 4.1 g/t gold and 64.5 g/t silver (both grades uncapped) over 6.2 metres estimated true width at 45 metres depth in hole MAD16-005, confirming the potential to outline additional high-grade satellite zones close to the existing mines.
  • El Barqueno Project – Drilling outlines new, 700-metre-long Olmeca structure and extends existing deposits – Drilling is currently moving beyond the deposits that host the mineral resources.  Significant high-grade intercepts are reported at the new Olmeca prospect, which has been traced over 700 metres of strike length.  Results from Olmeca include up to 4.5 g/t gold (capped) and 4.7 g/t silver (uncapped) over 11.0 metres estimated true width at 85 metres depth in drill hole OLM16-010, and 9.4 g/t gold (capped) and 14.1 g/t silver (uncapped) over 5.1 metres estimated true width at 67 metres depth in drill hole in OLM16-003.

 

Goldcorp pone a la venta mina Los Filos en México

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http://www.elfinanciero.com.mx/empresas/goldcorp-pone-a-la-venta-mina-los-filos-en-mexico.html

Goldcorp Inc puso a la venta su mina de oro y plata Los Filos en México y también contempla deshacerse de otras dos minas no básicas, dijo el jueves el director ejecutivo de la empresa, David Garofalo.

La firma con sede en Vancouver ha comenzado el proceso de venta formal de la mina Los Filos, dijo Garofalo en una entrevista, y está estudiando opciones para su mina Alumbrera en Argentina y la operación Marlin en Guatemala.

Yamana Gold Announces Second Quarter 2016 Results

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http://www.marketwired.com/press-release/yamana-gold-announces-second-quarter-2016-results-tsx-yri-2146470.htm

TORONTO, ONTARIO–(Marketwired – July 28, 2016) – YAMANA GOLD INC. (TSX:YRI)(NYSE:AUY) (“Yamana” or “the Company”) is herein reporting its financial and operational results for the second quarter 2016, including total gold production of 313,086 ounces, revenue of $466.5 million, net earnings(1) of $32.9 million or $0.03 per share, and adjusted earnings(1,2) of $5.4 million or $0.01 per share. Additional highlights are provided below.

In addition, the Company is herein providing an exploration update for its 50% owned Odyssey deposit, which is located east of the main open pit at Canadian Malartic. The exploration program at Odyssey continues to return positive results and an Inferred Mineral Resource for the Odyssey North zone is expected by year end 2016. The Company expects to provide an exploration update with further details in the coming weeks on several of its properties, in particular, Chapada, Jacobina, Gualcamayo and C1 Santa Luz.

Yamana Gold Announces Sale of its Mercedes Mine in Mexico

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http://www.marketwired.com/press-release/yamana-gold-announces-sale-of-its-mercedes-mine-in-mexico-tsx-yri-2146469.htm

TORONTO, ONTARIO–(Marketwired – July 28, 2016) – YAMANA GOLD INC. (TSX:YRI)(NYSE:AUY) (“Yamana” or “the Company”) is pleased to announce that it has entered into a definitive Share Purchase Agreement (the “Agreement”) to sell 100% of its interest in the Mercedes mine in Sonora, Mexico to Premier Gold Mines Limited (“Premier”) (herein referred to as the “Transaction”). Pursuant to the Agreement, Yamana will receive consideration in the form of cash and equity securities, the value of which was $140 million at the time of negotiations. Total cash and equity securities consideration is summarized as follows:

  1. Cash consideration of $122.5 million;
  2. Approximately 6 million Premier common shares; and
  3. Approximately 3 million Premier common share purchase warrants (exercisable at C$4.75 per common share for 24 months from the closing of the Transaction).

The Company expects to use the proceeds from the Transaction to reduce the Company’s net debt position.

Argonaut Gold Receives Favourable Ruling in Federal Lawsuit Relating to San Antonio Permit

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http://www.argonautgold.com/news_events/news/news_release/index.php?&content_id=299

Toronto, Ontario – (July 28, 2016) Argonaut Gold Inc. (TSX: AR) (the “Company”, “Argonaut Gold” or “Argonaut”) announces that the federal court of appeals has issued a favourable ruling regarding its Federal lawsuit arising from the denial of the Environmental Impact Assessment (Manifiesto de Impacto or MIA) for its San Antonio project in Baja California Sur, Mexico.

On August 2, 2012, the Company was denied its Environmental Impact Assessment for its San Antonio project due in part to a local zoning issue.  The Company filed a Federal lawsuit stating that the local zoning plan was not validly constituted and therefore should not have been an obstacle to the permitting of the project.

The Company has received a copy of the federal appeals court ruling in its finding that the current Urban Development Plan for the Municipality of La Paz (“zoning plan”) was not properly established and therefore should not have been used as a criteria in the review of the MIA for the San Antonio project. Furthermore, the ruling instructed the Mexican Environmental Authority (SEMARNAT) to annul the denial of the MIA and issue a new decision without taking into consideration the zoning plan within three business days of notification of the ruling.  The Company continues to review the full text of this ruling with its advisors and consider the next steps that will be undertaken by both the Company and SEMARNAT.  The Company cautions that there is no assurance that permits will be issued imminently and that permitting continues to be subject to regulatory processes of uncertain duration.

Kootenay Announces Closing of $6 million in Financings

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Click to access article_07282016113451.pdf

July 28, 2016, (Vancouver, BC) – Kootenay Silver Inc. (TSXV:KTN) (“Kootenay” or the “Company”) is pleased to announce that it has closed its previously announced brokered private placement (the “Offering”) with Haywood Securities Inc. (the “Agent”). An aggregate of 12,937,500 units (the “Units”), including 675,000 Units issued as a result of the exercise in full of the Agents’ over-allotment option, were sold under the Offering at a price of $0.40 per Unit (the “Offering Price”) for total gross proceeds to the Company of $5,175,000. In addition, the Company has closed a concurrent non-brokered private placement of 2,135,790 Units at the Offering Price, which includes participation by Pan American Silver Corp. to maintain its pro-rata ownership position, for additional gross proceeds to the Company of $854,316. The aggregate gross proceeds of the Offering and the non-brokered private placement are $6,029,316

Gold Resource Corporation Declares July Monthly Dividend

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Click to access article_07272016162537.pdf

COLORADO SPRINGS – July 27, 2016 – Gold Resource Corporation (NYSE MKT: GORO) (the “Company”) declares its monthly instituted dividend of 1/6 of a cent per common share for July 2016 payable on August 23, 2016 to shareholders of record as of August 11, 2016. Gold Resource Corporation is a gold and silver producer with operations in Oaxaca, Mexico and exploration in Nevada, USA. The Company has returned $108 million to shareholders in monthly dividends since commercial production commenced July 1, 2010, and offers shareholders the option to convert their cash dividends and take delivery in physical gold and silver.

Coeur Reports Second Quarter 2016 Results

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http://investors.coeur.com/Cache/1500088902.PDF?Y=&O=PDF&D=&FID=1500088902&T=&IID=4349317

Chicago, Illinois – July 27, 2016 – Coeur Mining, Inc. (the “Company” or “Coeur”) (NYSE: CDE) reported second quarter 2016 revenue of $182.0 million, net income of $14.5 million, or $0.09 per share, and adjusted net income1 of $17.3 million, or $0.11 per share. Continued cost reductions resulted in a 16% decline in costs applicable to sales (“CAS”) per silver equivalent ounce1 (“AgEqOz”), a 21% decrease in CAS per gold equivalent ounce1 (“AuEqOz”), and an 11% reduction in all-in sustaining costs (“AISC”) per AgEqOz1 , all compared to the same quarter last year. Cash flow from operating activities was $45.9 million, almost a $40 million increase quarter-over-quarter. Free cash flow1 totaled $12.2 million in the second quarter, approximately $37 million higher than the first quarter.

New Gold Delivers Higher 2016 Second Quarter Cash Flow and Significantly Lowers Full-Year Cost Guidance

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Click to access article_07272016174005.pdf

July 27, 2016 – New Gold Inc. (“New Gold”) (TSX:NGD) (NYSE MKT:NGD) today announces its 2016 second quarter results and provides an update on the construction of the company’s Rainy River project.

“We are proud to have delivered such strong second quarter results,” stated Randall Oliphant, Executive Chairman. “The combination of higher production, lower costs and improved gold prices enabled us to generate a 39% increase in our cash flow. We are on track to meet our full-year gold production guidance and pleased to be in a position to lower our cost guidance. We look forward to a strong finish to the year.”

Agnico Eagle Reports Q2 2016 Operating and Financial Results; Production Guidance Raised and Dividend Increased by 25%

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http://www.juniorminingnetwork.com/junior-miner-news/press-releases/1060-tsx/aem/22817-agnico-eagle-reports-q2-2016-operating-and-financial-results-production-guidance-raised-and-dividend-increased-by-25.html

TORONTO, July 27, 2016 /CNW/ – Agnico Eagle Mines Limited (NYSE: AEM, TSX:AEM) (“Agnico Eagle” or the “Company”) today reported quarterly net income of $19.0 million, or net income of $0.09 per share for the second quarter of 2016 (on an undiluted basis).  This result includes a non-cash foreign currency translation loss on deferred tax liabilities of $7.0 million ($0.03 per share), various mark-to-market and other adjustment losses of $5.8 million ($0.03 per share), non-cash foreign currency translation losses of$5.5 million ($0.02 per share), non-cash stock option expense of $3.1 million ($0.01 per share), non-recurring gains of $4.4 million($0.02 per share), and unrealized gains on financial instruments of $1.0 million (nil per share).  Excluding these items would result in adjusted net income1 of $35.0 million or $0.16 per share for the second quarter of 2016.  In the second quarter of 2015, the Company reported net income of $10.1 million or net income of $0.05 per share.