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Ascot Learns of Statement of Claim and Denies Allegations
GlobeNewswire News Roomยท 2025-08-20 21:00
Core Viewpoint - Ascot Resources Ltd. is facing a class action lawsuit in the Ontario Superior Court of Justice, alleging misrepresentations in public disclosures related to its operations at the Premier Gold mine, with the company asserting that the claims are unfounded and intends to defend itself vigorously [1]. Company Overview - Ascot Resources Ltd. is a Canadian mining company based in Vancouver, British Columbia, and trades on the Toronto Stock Exchange (TSX) under the ticker AOT and on the OTCQB under the ticker AOTVF [2]. - The company is the 100% owner of the Premier Gold mine, which commenced gold production in April 2024, located on Nisga'a Nation Treaty Lands in the Golden Triangle of northwestern British Columbia [2].
Torex Gold Announces Completion of Reyna Silver Acquisition
Newsfileยท 2025-08-20 20:30
Core Viewpoint - Torex Gold Resources Inc. has completed the acquisition of Reyna Silver for approximately $26 million, adding four exploration properties in Mexico and Nevada to its portfolio [1][2]. Company Overview - Torex Gold Resources Inc. is a Canadian mining company focused on the exploration, development, and production of gold, copper, and silver, with its flagship Morelos Complex being Mexico's largest single gold producer [5]. - The company has recently acquired early-stage exploration properties, including Batopilas and Guigui in Mexico, and Gryphon and Medicine Springs in Nevada [5]. Strategic Objectives - The company's key strategic objectives include delivering Media Luna to full production, optimizing Morelos production and costs, growing reserves and resources, and maintaining responsible mining practices [6]. Exploration Plans - Initial exploration programs for 2025 will focus on the Batopilas property in Chihuahua, Mexico, and the Gryphon property in Nevada, with planned investments of approximately $500,000 and $1.1 million respectively [4][3]. - In 2026, exploration efforts will expand to include the Guigui property and the Medicine Springs property [3]. Financial Details - The acquisition of Reyna Silver was completed following shareholder approval, with Torex paying C$0.13 per share for all outstanding common shares [1].
Almadex Provides Review of Spences Bridge Gold Belt Projects in Southern British Columbia
Globenewswireยท 2025-08-20 19:31
Core Insights - Almadex Minerals Ltd. is focusing on its wholly owned Nicoamen and Merit Projects located in the Spences Bridge Gold Belt, which is gaining attention due to recent high-grade gold discoveries [1][2] Industry Overview - The Spences Bridge Gold Belt is a 110 km northwest-trending area in southern British Columbia, known for its potential for low-sulphidation epithermal gold-silver mineralization [2] - Approximately CA$55 million has been invested in exploration at the Shovelnose Property, which has led to a robust Preliminary Economic Assessment (PEA) for a low-cost, high-margin underground gold mining operation with an estimated mine life of 11.1 years [2] Nicoamen Project Highlights - The Nicoamen Project consists of 9 claims totaling 3,332 hectares, located near Lytton, British Columbia [3] - Previous exploration included stream sediment, rock, and soil sampling, trenching, and geophysical surveys, with the most recent work conducted by Independence Gold Corp. [4][6] - A magnetic survey identified a "magnetic low" structural corridor associated with mineralized chalcedonic quartz veins, yielding gold values up to 4.46 g/t [4][6] Merit Project Highlights - The Merit Project comprises four mineral claims covering approximately 1,900 hectares, located near Merritt, British Columbia [7] - Previous exploration has revealed multiple zones of alteration and mineralization, particularly at Sullivan Ridge, where trenching returned gold values of 7.24 g/t over 1.8 meters [7] - Independence Gold Corp. also conducted work on the Merit Property, with sampling returning assays of up to 9.5 g/t gold and 341 g/t silver [8] Future Plans - The company intends to seek a qualified partner to further develop the Nicoamen and Merit projects while currently focusing on advancing its U.S.-based exploration projects [9]
Almadex Provides Review of Spences Bridge Gold Belt Projects in Southern British Columbia
GlobeNewswire News Roomยท 2025-08-20 19:31
Core Viewpoint - Almadex Minerals Ltd. is highlighting its exploration projects, Nicoamen and Merit, located in the Spences Bridge Gold Belt, which is gaining attention due to recent high-grade gold discoveries in the region [1][2]. Group 1: Spences Bridge Gold Belt Overview - The Spences Bridge Gold Belt is a 110 km northwest-trending area in southern British Columbia, known for its potential for low-sulphidation epithermal gold-silver mineralization [2]. - Approximately CA$55 million has been invested in exploration at the Shovelnose Property, which has led to a robust Preliminary Economic Assessment (PEA) indicating a low-cost, high-margin underground gold mining operation with an estimated mine life of 11.1 years [2]. Group 2: Nicoamen Project Highlights - The Nicoamen Project consists of 9 claims covering 3,332 hectares, located approximately 17 km southeast of Lytton [5]. - Previous exploration included stream sediment, rock, and soil sampling, trenching, and geophysical surveys, with the most recent work conducted by Independence Gold Corp. before early 2022 [6]. - Exploration results indicated gold values of up to 4.46 g/t, with a newly identified vein zone showing consistent grades between 1.05 g/t and 3.91 g/t over a width of 100 meters [6][7]. Group 3: Merit Project Highlights - The Merit Project comprises four mineral claims covering roughly 1,900 hectares, located approximately 22 km west of Merritt [8]. - Previous exploration led to the discovery of multiple zones of alteration and mineralization, with significant results including 7.24 g/t gold over 1.8 meters from a trenching program [8]. - Independence Gold Corp. also conducted work on the Merit Property, with sampling returning assays of up to 9.5 g/t gold and 341 g/t silver [9]. Group 4: Future Development Plans - The company intends to seek a qualified partner to further develop the Nicoamen and Merit projects while focusing on advancing its U.S.-based exploration projects [10]. - Almadex holds three royalties within the Spences Bridge Gold Belt, including a 2% NSR on Westhaven Gold's Prospect Valley and Skoonka projects [10].
AU vs. KGC: Which Gold Mining Stock is the Better Buy?
ZACKSยท 2025-08-20 15:21
Core Viewpoint - AngloGold Ashanti and Kinross Gold are two leading gold producers with diversified mining operations across various continents, both positioned to benefit from the ongoing rise in gold prices [1][27]. Group 1: Gold Market Overview - Gold prices recently fell to $3,320 per ounce due to easing geopolitical concerns and a stronger U.S. dollar, but have increased 26% year-to-date, driven by safe-haven demand and geopolitical risks [2]. - Central bank buying and expanding industrial use in sectors like energy, healthcare, and technology are expected to support gold prices moving forward [2]. Group 2: AngloGold Ashanti Analysis - AngloGold Ashanti, based in South Africa, has operations in multiple countries and recently acquired Centamin, enhancing its asset base with the Sukari mine, which has a production potential of 500,000 ounces annually [4]. - In Q2 2025, AngloGold's gold production rose 21% year-over-year to 804,000 ounces, with a projected production range of 2.9-3.225 million ounces for 2025, indicating a year-over-year growth of 9-21% [5]. - Gold revenues in Q2 increased by 78% to $2.4 billion, although higher operating costs partially offset these gains [6]. - Total cash costs per ounce rose 8% to $1,226, while all-in-sustaining costs increased 7% to $1,666, with earnings per share up 108% to $1.25 [7]. - Free cash flow surged 149% year-over-year to $535 million, with liquidity at $3.4 billion and adjusted net debt reduced by 92% to $92 million [8]. - The company is focused on its Full Asset Potential program and has made strategic acquisitions to enhance its growth [9][10]. Group 3: Kinross Gold Analysis - Kinross Gold, headquartered in Canada, operates in several countries and has a strong production profile with promising exploration and development projects [14]. - In Q2 2025, Kinross's revenues rose 41.7% year-over-year to $1.73 billion, with adjusted earnings per share increasing to 44 cents from 14 cents [17]. - The company produced 512,574 gold equivalent ounces, a 4.3% decrease year-over-year, but higher production from certain mines offset declines from others [16]. - Kinross ended Q2 with solid liquidity of approximately $2.8 billion and free cash flow increased by 87% year-over-year to a record $647 million [18]. - The company has been reducing debt levels, ending Q2 with a total debt to total capital ratio of 0.14 [19]. Group 4: Earnings Estimates and Valuation - The Zacks Consensus Estimate for AngloGold Ashanti's 2025 earnings is $4.96 per share, reflecting a year-over-year growth of 124.43%, but a slight dip is expected in 2026 [20]. - Kinross Gold's earnings estimate for 2025 is $1.38 per share, indicating a year-over-year jump of 103%, with a slight growth expected in 2026 [21]. - In the past six months, AngloGold's stock gained 64.8%, while Kinross's stock increased by 70.5% [23]. - AngloGold is trading at a forward earnings multiple of 11.01X, while Kinross is at 13.40X, both higher than their five-year medians [25]. Group 5: Investment Outlook - Both companies are well-positioned to benefit from rising gold prices, but Kinross Gold has shown stronger year-to-date price performance and has a more compelling project pipeline [27]. - Kinross Gold is rated as a Strong Buy, while AngloGold Ashanti holds a Hold rating, indicating a preference for Kinross as a more attractive investment option [28].
Gold Fields Set to Report Q2 Earnings: Buy, Sell or Hold the Stock?
ZACKSยท 2025-08-20 15:15
Core Viewpoint - Gold Fields Limited (GFI) is expected to report its second-quarter and first-half fiscal 2025 results on August 22, with earnings estimates remaining stable at 59 cents per share [1][2]. Group 1: Earnings and Production Performance - GFI's second-quarter production for 2025 is projected at 585,000 ounces, reflecting a 6% year-over-year increase, while total production for the first half of 2025 reached 1,136,000 ounces, a 24% increase compared to the previous year [5][7]. - The company anticipates headline earnings per share for the first half of 2025 to be between $1.09 and $1.21, representing a significant increase of 203-236% from 36 cents per share in the same period last year [8][9]. - Normalized earnings per share are expected to range from $1.06 to $1.18, indicating a 165-195% rise from 40 cents in the first half of 2024 [9]. Group 2: Cost and Pricing Dynamics - The all-in costs for GFI in the second quarter of 2025 are projected at $2,054 per ounce, up from $1,861 per ounce in the prior-year quarter, while the all-in sustaining cost is expected to be $1,739 per ounce, a 7% increase year-over-year [7][8]. - Rising mining costs have contributed to the increase in all-in costs, which may offset some of the gains from higher gold volumes and prices [9]. Group 3: Market Performance and Valuation - GFI shares have increased by 122% year-to-date, outperforming the industry growth of 72%, as well as competitors Franco-Nevada Corporation (FNV) and Agnico Eagle Mines Limited (AEM), which gained 47.5% and 66.5% respectively [10]. - GFI is currently trading at a forward price/sales ratio of 3.11, which is lower than the industry average of 3.40, while FNV and AEM are trading at higher ratios of 19.54 and 6.07 respectively [13]. Group 4: Strategic Developments - Gold Fields is on track to meet its gold production guidance of 2.25-2.45 million ounces, indicating a year-over-year growth of 13.5% [15]. - The company is enhancing its portfolio through strategic acquisitions, including the full ownership of the Windfall project in Quebec and the pending acquisition of Gold Road, which will provide full ownership of the Gruyere mine in Australia [15][16]. - The ramp-up at Salares Norte in Chile is progressing, with commercial production expected in the third quarter of 2025 [15].
Newmont Corporation (NEM) is a Top-Ranked Value Stock: Should You Buy?
ZACKSยท 2025-08-20 14:41
Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor. Zacks Premium includes access to the Zacks Style Scores as well. What are the Zacks Style Scores? Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market o ...
Providence Gold Mines Inc. Options La Dama de Oro Gold Property
Thenewswireยท 2025-08-20 13:00
VANCOUVER โ August 20, 2025 โ TheNewswire - Providence Gold Mines Inc. ("Providence" or the "Company") announces that subject to Regulatory approval it has entered an option agreement to acquire the "La Dama de Oro Gold Property". The property is a historical gold mine 100% owned by the Optionor, (" Mohave Gold Mining"), a private Company incorporated under the laws of the state of California. The La Dama de Oro Property is situated in the Silver Mountain Mining District, within the structurally complex Eas ...
Allegiant Receives BLM Approval for Exploration at Castle Zone Within Eastside Gold Project Plan of Operation Significantly Expands the Project Area
Thenewswireยท 2025-08-20 13:00
Tonopah, Nevada / August 20, 2025 โ TheNewswire - Allegiant Gold Ltd. ("Allegiant" or the "Company") (AUAU: TSX-V) (AUXXF: OTCQX) is pleased to announce that it has received formal approval from the Bureau of Land Management (BLM) and the Nevada Division of Environmental Protection (NDEP) for its Environmental Assessment (EA) and Plan of Operations for the Castle Project, located in Esmeralda County, Nevada, approximately 22 miles west of Tonopah. The approval allows Allegiant to proceed with an extensive m ...
K92 Mining: Well On Track To Tier One Mid-Size Gold Producer
Seeking Alphaยท 2025-08-20 12:30
Group 1 - The article discusses an investment strategy suitable for various types of investors, including those focused on dividends, value propositions, or growth opportunities [1] Group 2 - The author has a Master's degree in Business Economics and possesses a strong managerial and economic background, emphasizing a solid quantitative basis [1] - The coverage includes all sectors and different types of stocks, indicating a comprehensive approach to investment analysis [1]