Newmont Corporation or the Company) announced today that its Board of Directors (Board) plans to reduce the number of Directors from 15 to 11, effective following the Annual Meeting of Stockholders on April 21, 2020, with the completion of the Goldcorp integration.
Freeport-McMoRan Inc. announced today continued progress in growing copper and gold volumes by 30 – 40 percent, reducing net unit cash costs of copper by 25 percent to approximately $1.30 per pound and more than doubling cash flows by 2021 compared with 2019.
Almaden Minerals Ltd. is pleased to announce that it has partnered with a local community group focused on irrigation development, and together with them coordinated with the Federal Government water authority (“CONAGUA”), to co-fund a new water reservoir in Zacatepec, a community located nearby the proposed Ixtaca mine development area.
“The completion of the MRMR is an important milestone following our acquisition of Tucano as it provides us with a more solid foundation for understanding the geology of Tucano,” said Jeffrey Mason, Interim President and CEO.
Arturo Bonillas, President and Chief Executive Officer of Magna, stated, “The acquisition of the San Francisco Mine is a pivotal moment in Magna’s evolution to become a growing gold producer in Mexico. Our team has a long history with the operation, and we are confident in our ability to re-establish the San Francisco Mine as a profitable mine. Our focus remains to generate value for our shareholders and this acquisition underpins our ability to do so in the immediate and long-term”.
“The sale of San Francisco is a win-win for Alio Gold and Magna,” said Mark Backens, President and CEO of Alio Gold. “Arturo Bonillas and his team at Magna have a lengthy history and extensive knowledge of the Mine, and under his stewardship we are confident this Transaction will be very beneficial to the employees, contractors, suppliers and local communities that support the Mine as plans are implemented to unlock value from the property. The Transaction transfers all current assets and liabilities associated with the property and allows Alio Gold to focus time and resources on more value enhancing opportunities at the Florida Canyon Mine, our core asset.”
“The Altamura acquisition completes a highly accretive process for Oroco and its shareholders,” commented Craig Dalziel, the Oroco CEO. “We are now able to fully focus on the development of a significant geological asset which brings with it a very positive local community relationship; exceptional supporting infrastructure; an eager and capable local workforce; and clearly supportive local, regional and federal government agencies. The future for Santo Tomás and the surrounding communities is very bright.”
The proceeds of the Placement will be used entirely to fund drill programs on the Company’s high-grade silver-gold exploration projects in Mexico.
“Selling our Continental stake into a strong bid allowed us to generate $260 million in cash that will support our disciplined approach to capital allocation, including strengthening our investment grade balance sheet, investing in our highest returning projects, and returning excess cash to our shareholders,” said Tom Palmer, President and Chief Executive Officer.
“Q4 was the first full quarter of production at South Arturo following the successful construction of the El Nino underground mine”, stated Ewan Downie, President & CEO. “Its addition is expected to contribute positively to Premier’s 2020 operating results”.
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