Lincoln Mining Appoints New Director
July 25, 2013
Lincoln Mining Corporation announces the appointment of Mr. Ron Coombes as a director of the Company.
Lincoln Mining Corporation announces the appointment of Mr. Ron Coombes as a director of the Company.
Goldcorp Inc. (USA) (GG)
Q2 2013 Earnings Conference Call
July 25, 2013 1:00 pm ET
Hundreds of small mineral exploration companies may have their stock delisted by Canadas TSX Venture Exchange in the coming months, choking off a development pipeline that has long supplied major miners with new projects.
It hasnt been a hospitable environment for gold miners, the embattled sector which has had to suffer both falling commodity prices and rising costs. Reporting second quarter earnings before the bell on Thursday, Goldcorp GG -0.28% proved to be the latest victim of the new paradigm in the gold miners world, being forced to take a $1.93 billion write-down on the declining value of its assets, as management reacted to its market capitalization falling below the companys net asset value. Despite a recent rally in the sector, and in the yellow metal, itll take dramatically higher prices to push Goldcorp, and the broader sector, into true rally mode.
Almaden Minerals Ltd. is pleased to announce the results from Almaden’s ongoing 2013 Ixtaca Zone drill program at the Company’s 100% owned Tuligtic project, Mexico. The 2013 drill program is focussed on expanding the known resource immediately along strike to known mineralisation, adjacent to the current resource shell and within what is considered a potential pit shell. Highlights from the holes released today include the following intercepts.
Sona Resources Corp. is pleased to announce that, further to its news release of July 17, 2013, it has closed the first tranche of its non-brokered private placement of 3,665,000 units at an offering price of $0.30 per Unit, for gross proceeds of $1,099,500. Each Unit consists of one common share and one-half of one warrant, with each whole Warrant entitling the holder to purchase, for a period of 24 months following the closing date, one additional common share of the Company at a price of $0.50 for the first 12 months and $0.60 thereafter. The sole subscriber in this tranche of the Private Placement was Lu’An (Canada) Capital & Energy Investment Inc. who, as a result of their subscription, is now an “insider” of the Company pursuant to applicable securities laws.
Xtierra Inc. is pleased to announce the successful completion of an additional drilling campaign in the southern part of its silver-zinc-lead-copper project in the state of Zacatecas, Mexico. All six drill-holes, with a total of 1784.10 metres, encountered thick intersections of good grade mineralization with notable high grade silver intersections throughout. Four of the drill-holes showed highly mineralized intervals comprising massive to semi-massive sulfide mineralization varying between 20 and 40m in thickness. A summary of the principal intersections for each of the drill-holes is listed below.
Soltoro Ltd. holds a total of 7,000,000 common shares or 15% of Argentum Silver Corp. Soltoro also retains a 3% Net Smelter Return interest in the Coyote project whereby 1% can be purchased by Argentum Silver for US$1.5 million to a maximum of 2%.
Goldcorp Inc. reported an enormous net loss of US$1.93-billion in the second quarter after taking a big writedown on the Penasquito mine in Mexico.
SilverCrest Mines Inc. is pleased to announce that it has filed its NI 43-101 Technical Report entitled Santa Elena Expansion Pre-Feasibility Study and Open Pit Reserve Update for its operating mine located in Sonora, Mexico. Summaries of the revised Life of Mine Plan, operating costs, capital costs and Expansion project economics are presented in tables below. All dollar amounts are expressed in U.S. dollars unless otherwise specified. The effective date of this Technical Report is April 30, 2013.
Goldcorp Inc. today reported quarterly revenues of $889 million, generating adjusted net earnings1,2 of $117 million, or $0.14 per share, compared to $332 million, or $0.41 per share, in the second quarter of 2012. A non-cash impairment charge, primarily related to exploration potential at Peñasquito, led to a net loss in the quarter of $1.93 billion compared to net earnings of $268 million in the second quarter of 2012. Adjusted operating cash flow1,3 was $388 million or $0.48 per share.
Alamos Gold Inc. today reported its financial results for the quarter ended June 30, 2013 and reviewed its operating, exploration and development activities. All amounts are expressed in United States dollars unless otherwise specified.
Teck Resources Limited reported second quarter adjusted profit of $197 million, or $0.34 per share, compared with $398 million or $0.68 per share in 2012.
Aurcana Corporation is pleased to announce that it will hold a webcast and teleconference to discuss its Q2 2013 financial results, on Monday, August 26, 2013.
Argentum Silver Corp. announces, the Company has filed a Technical Report under National Instrument 43-101 on its Coyote Project in Jalisco Mexico. The Report is now available on SEDAR and on the Company’s website.
Challenging trading environment with downward movements in base and precious metal prices during H1 2013; strategic price hedges put in place for H2 2013
Average zinc price in H1 2013 slightly up on H2 2012 (USD 1,937/t compared to USD 1,916/t) due to strong start to year; however, since March the price has traded between USD 1,800 – 1,900/t
Average silver and gold prices declined by 15% and 10% respectively compared to H2 2012, impacting mining C1 cash costs and to a lesser extent Metals Processing by-product gross profit
Entered into strategic price hedges for zinc, and subsequently gold and silver, for H2 2013
Agnico Eagle Mines Limited today reported a quarterly net loss of $24.4 million, or $0.14 per share for the second quarter of 2013. This result includes a non-cash foreign currency translation gain of $11.1 million ($0.06 per share), non-cash stock option expense of $4.3 million ($0.02 per share), non-cash impairment loss on available for sale securities and mark-to-market loss on warrants of $20.5 million ($0.12 per share) and other non-recurring expense of $6.1 million ($0.03 per share) mostly relating to the Kittila maintenance shutdown. Excluding these items would result in an adjusted net loss of $4.6 million, or $0.03 per share. In the second quarter of 2012, the Company reported net income of $43.3 million, or $0.25 per share.
Monarchy Resources, Inc. today announced that the company has provided guidance of its first portfolio company New World Metals S.A.P.I. de C.V.
Soltoro Ltd. has discovered the previously unknown Talayote gold zone as part of its ongoing regional mapping and sampling program. Soil sampling detected several isolated gold anomalies in the area and follow-up geologic mapping and rock sampling revealed a series of northwest-trending quartz veins. Veins in the Talayote area are similar in orientation to those in the El Rayo gold deposit, located approximately 1.5 kilometres to the southeast. Thirty-two samples have been collected from the Talayote area to date.
International Northair Mines Ltd. is pleased to announce that it has closed non-brokered private placements for gross proceeds of C$1,859,315. Proceeds raised from the Private Placements represent an increase of approximately $350,000 over the total amount previously declared by the Company in its press release dated July 10, 2013.
Freeport-McMoRan Copper & Gold Inc. (FCX)
Avino Silver & Gold Mines Ltd. is pleased to announce it has filed the Technical Report on the Avino Property, Durango Mexico on the SEDAR system. Findings from the report were initially disclosed in the Company’s news release dated June 10 2013. The report has an effective date of July 19th 2013 and includes resource estimates from the San Gonzalo and Avino mine systems as well as the tailings resource; all of which are located on Avino’s property near Durango in west-central Mexico. The technical report was prepared by Tetra Tech, an independent engineering consultant commissioned by Avino.
Argentum Silver Corp. is focused on advancing its Coyote silver-gold project while reducing holding costs on the balance of its property portfolio. As a result an internal claims review designed to reduce operating costs, Argentum has elected to reduce the size of one of its claims in Jalisco State and two of its claim in Oaxaca State.
Mercator Minerals Ltd announces the resignation of Colin Benner, for personal health reasons, from the board of directors effective July 23, 2013.
Corex Gold Corp. board of Directors has approved an advance notice policy effective July 22, 2013. The Company intends to seek ratification of the Advance Notice Policy by the shareholders of the Company at the Company’s next general meeting of shareholders to be held on August 27, 2013.
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