Goldcorp Inc. reported much weaker-than-expected first quarter results on Thursday as it faced shrinking margins, higher depreciation and depletion expenses, and a higher effective tax rate.
“We are pleased to begin 2015 with strong cash flow performance,” said Chuck Jeannes, Goldcorp President and Chief Executive Officer. “Our primary focus in 2015 is on safely executing our plans and forecasts. Delivering on those expectations, coupled with significantly lower capital spending compared to prior years, positions Goldcorp for a sustained period of strong cash flow. This financial strength provides Goldcorp the flexibility to fund the next generation of growth projects…
Keith Neumeyer, chairman of First Mining, stated Im very surprised and disappointed by the Special Committees determination. Our proposal is a superb opportunity to create value for the COD shareholders. We believe our proposal clearly delivers both greater short-term and long-term value to the COD shareholders compared to the Sulliden transaction and is clearly a Superior Proposal under the Sulliden agreement. We find it outrageous that the COD board is recommending that its shareholders accept an offer which provides less value than the current trading price of COD shares…
Newstrike Capital Inc. advises that the previously announced plan of arrangement involving Newstrike and Timmins Gold Corp. has been approved by the shareholders of Newstrike.
We are very excited to have completed this transaction and to move forward as Alianza Minerals, stated Jason Weber, President and CEO. We will be active in some excellent jurisdictions with strong mining and exploration history, balanced with great potential for new grassroots discoveries.
“The first quarter delivered a solid start to the year for our company,” stated Randall Oliphant , Executive Chairman. “Our portfolio of operations continued to generate free cash flow which we are reinvesting in the future of our business. We achieved a significant milestone with the approval of the Rainy River Environmental Assessment early in the year and construction activities are now accelerating. At the same time, we are proud of the New Afton team for commissioning the mill expansion ahead of schedule and below budget which should further enhance the mine’s strong operating performance.”
Radius Gold Inc. is pleased to announce that the Company has received final approval from the TSX Venture Exchange for the change of its business from that of a mineral exploration issuer to an investment issuer.
Peter Hawley, the Company’s CEO, comments, “The Company continued to increase its gold production during 2014 and generated $16.2 million of cash flow from operating activities despite lower gold prices. As with many other companies in the industry, the Company recorded a non-cash impairment during 2014. The Company continues to focus on operational excellence along with safe mining practices. In addition, an aggressive drilling program has been planned for 2015 at the Mineral Ridge project with the objective of increasing its life of mine…
Mr. Fennell has served as a Director of the Board to Sutter since June 2009. He currently serves as officer and/or director of a number of publicly-traded resource and resource-related companies. Mr. Fennell has decided to resign from his Sutter board position in order to dedicate more attention to these other ventures.
Scorpio Gold Corporation announces that the proposed $15 million Strategic Financing with Coral Reef Capital LLC has been terminated due to concerns about certain large shareholders opposing the transaction. As such, the Company is obligated to pay a break fee of $500,000 along with approximately $100,000 of related due diligence costs incurred by Coral Reef.
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