Month: July 2013

Yamana Gold Inc. today provided an update on the cost containment and margin reclamation initiatives and provided an update to future production expectations.

First Quantum Minerals Ltd. today announced comparative net earnings1 of $106.1 million or $0.18 per share for the three months ended June 30, 2013 inclusive of $19.5 million or $0.04 per share of unfavorable, recurring acquisition-related adjustments.

Yamana Gold Inc. declares its third quarter 2013 dividend of $0.065 per share. Shareholders of record at the close of business on September 30, 2013 will be entitled to receive payment of this dividend on October 11, 2013. The dividend is an “eligible dividend” for Canadian tax purposes.

Seeking Alpha – Capstone Mining’s CEO Discusses Q2 2013 Results – Earnings Call Transcript

Kinross Gold Corporation today announced its results for the second quarter ended June 30, 2013.

Second Half of 2013 Remains on Track to Provide Strong Finish to the Year

Sutter Gold Mining Inc. announces that, further to its news release dated July 3, 2013, it has reached an agreement with Leanne M. Baker to settle the severance owing to her with respect to her termination as Chief Executive Officer of the Company. As disclosed in the executive compensation section of the Company’s management information circulars dated May 2, 2012 and May 7, 2013, Ms. Baker is entitled to a one time severance payment in the amount of USD$500,000. The Company and Ms. Baker have agreed that the Severance will be payable in four installments: (i) USD$83,333 payable in cash immediately; (ii) USD$138,889 to be paid on each of January 15, 2014, January 15, 2015 and January 15, 2016, either in cash or in common shares of the Company. The determination of whether any of the future payments noted above will be made in cash or in shares will be at the sole discretion of the Company. The deemed price of the common shares that may be issued in connection with the above noted installments will be the average closing share price of the Company during the 10 trading days up to and including January 15 of each applicable year, but in any event, no more than 475,000 common shares will be issued (equating a deemed price of approximately $0.30 per share) in each of the three installments. The payment of the Severance is considered a related party transaction in accordance with the policies of the TSX Venture Exchange, however is exempt from the requirements for formal valuation or minority approval set out in sections 5.5(a) and (b) and 5.7(a) and (b), respectively, of MI 61-101 Protection of Minority Security Holders in Special Transactions. The payment of the Severance is subject to the approval of the TSX Venture Exchange.

Osisko Mining Corporation is pleased to announce that it has reached agreements with CPPIB Credit Investments Inc., a wholly-owned subsidiary of the CPPIB Investment Board, the Caisse de dépôt et placement du Québec and Ressources Québec, a subsidiary of Investissement Québec, to modify certain terms of its long-term debt facilities.