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Surge Copper Provides Corporate and Operational Update
Globenewswire· 2025-08-14 19:05
Core Viewpoint - Surge Copper Corp. is advancing its 2025 field program at the Berg copper-molybdenum-precious metals project, focusing on resource updates and a pre-feasibility study while also engaging in a strategic private placement to raise approximately $4.5 million [1][6][7]. Operational Update - The 2025 field program at the Berg project is progressing with resource drilling nearing completion, totaling approximately 1,500 meters planned [2][3]. - The first geotechnical hole has been completed, which will help characterize ground conditions for proposed infrastructure [3]. - The program includes the first uphill-angle drilling at Berg, with a successful 456-meter hole completed at a 14-degree dip to assess mineralization and acid rock drainage potential [4]. - Additional activities include geophysical surveys, environmental baseline studies, and logistical preparations, contributing to the data needed for the pre-feasibility study [5]. Strategic Investment Update - Surge is conducting a private placement of common shares to a strategic investor, increasing their ownership to 19.9% of the company, expected to raise approximately $4.5 million [6][7]. - The subscription agreement for the private placement has been executed, and regulatory approval processes are underway in South Africa [7]. - The transaction is anticipated to close within approximately four weeks, pending necessary regulatory approvals [7]. Upcoming Investor Events - Surge management will participate in several investor conferences in North America and the UK, including the Precious Metals Summit in Colorado and the Metals Investor Forum in Vancouver [10].
Hudbay Minerals(HBM) - 2025 Q2 - Earnings Call Transcript
2025-08-13 16:00
Financial Data and Key Metrics Changes - The company generated adjusted EBITDA of $245 million in the second quarter, resulting in a record annual trailing twelve-month adjusted EBITDA of $996 million as of June 30 [10] - Net earnings were $0.30 per share, and adjusted net earnings were $0.19 per share in the second quarter after adjustments for non-cash gains [10] - Cash generated from operating activities increased to $260 million compared to the first quarter, driven by higher gross margins and positive working capital management [10] - Free cash flow for the quarter was $88 million, with over $400 million generated in the last twelve months [11] - The company ended the quarter with $626 million in cash and cash equivalents, and net debt reduced to $434 million, improving the leverage ratio to 0.4 times [11] Business Line Data and Key Metrics Changes - Consolidated copper production in the second quarter was 30,000 tons, and consolidated gold production was 56,000 ounces, with copper production in line with the first quarter [8] - Consolidated silver production was 815,000 ounces, and zinc production was 5,000 tons in the second quarter [9] - In Peru, copper production was 22,000 tons, with gold production of 7,000 ounces and silver production of 552,000 ounces [12][13] - Manitoba operations produced 43,000 ounces of gold, 1,600 tons of copper, 5,100 tons of zinc, and 198,000 ounces of silver, lower than the first quarter due to wildfire impacts [16] - British Columbia operations produced 6,600 tons of copper and 5,700 ounces of gold, with production expected to increase in the second half of the year [20] Market Data and Key Metrics Changes - The company reaffirmed its full-year consolidated production guidance for all metals, tracking well below its full-year consolidated cost guidance for 2025 [9] - The cost guidance range for 2025 was improved to $0.65 to $0.85 per pound, down from the original range of $0.80 to $1 per pound [9] Company Strategy and Development Direction - The company announced a minority joint venture agreement with Mitsubishi Corporation for the Copper World project, reducing funding requirements and enhancing financial strength [6][7] - The joint venture is expected to unlock significant value in the copper growth pipeline and establish a long-term strategic partnership [7][25] - The company aims to maintain a strong balance sheet while advancing high-return growth projects, including the Copper World project [12][34] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving full-year production guidance despite challenges from wildfires and operational disruptions [19] - The current federal environment in the U.S. is viewed as constructive for project development, with bipartisan support for the Copper World project [48] - Management emphasized the importance of focusing on Phase one of the Copper World project before considering Phase two [48] Other Important Information - The company has committed over CAD 2 million in funding support to evacuated employees due to wildfires [15] - The Copper World project is expected to create over 1,000 jobs during the construction period and contribute significantly to U.S. taxes and the domestic copper supply chain [30][31] Q&A Session Summary Question: Will Mitsubishi have commercial off-take rights? - Yes, Mitsubishi will have rights to 30% off-take consistent with their ownership share [38] Question: Is there potential to bring forward the concentrate leach facility? - Yes, it is a possibility that will be studied in the feasibility study [39] Question: What is the strategic interest of Mitsubishi in the deal? - Mitsubishi's equity contribution significantly reduces Hudbay's capital requirement, allowing for a lower level of debt [41] Question: Any discussions with the U.S. Administration regarding Copper World Phase II? - Currently, the focus is entirely on Phase one, which is fully permitted [48] Question: Is there any major cost inflation expected for Copper World? - There may be modest increases in CapEx due to inflation, but higher copper prices are also expected [51] Question: What is the status of exploration programs in Manitoba and Peru? - Exploration in Manitoba has been paused due to wildfires, while in Peru, drilling will commence once the Consulta Previa process is completed [78]
Hudbay Minerals(HBM) - 2025 Q2 - Earnings Call Presentation
2025-08-13 15:00
Financial Performance - Q2 2025 adjusted EBITDA reached $245 million[9], while free cash flow was $88 million[9] - The company achieved a record trailing twelve-month EBITDA of $996 million[17] - Net debt to adjusted EBITDA ratio improved to 0.4x[17] - LTM Free Cash Flow reached $413 million[18] - Cash as of Q2'25 was $626 million[18] - Net Debt as of Q2'25 was $434 million[18] Operational Performance - Q2 2025 copper production was 30.0 kt[12] - Gold production in Q2 2025 was 56.3 koz[12] - Cash cost for copper production in Q2 2025 was negative $0.02 per pound[9] Copper World Project & Mitsubishi JV - Mitsubishi Corporation will invest $600 million for a 30% interest in the Copper World Joint Venture[42] - The average analyst consensus net asset value (NAV) estimate for 100% of Copper World is approximately $1.16 billion as of August 12, 2025[47] - Hudbay's remaining equity contribution to the Copper World project is estimated at approximately $200 million[60] - The initial capital expenditure for the Copper World project is $1.5 billion[70]
X @Bloomberg
Bloomberg· 2025-08-13 14:16
Environmental Impact - A waste dam collapse at a Chinese state-owned copper mine in Zambia potentially released 30 times more toxic sludge than initially reported [1] Mining Industry Risk - The incident highlights potential environmental risks associated with waste dam management in the copper mining industry [1]
Latin Metals Expands Para Copper Project, Peru
GlobeNewswire News Room· 2025-08-13 12:20
Core Insights - Latin Metals Inc. has acquired additional mineral rights for its Para copper project in southern Peru, expanding the project area and securing key drill targets [1][3][4] Acquisition Details - The newly acquired claim covers 300 hectares and was purchased for US$20,000 with no royalty obligations [7][9] - This acquisition consolidates a 100%-owned land position for the Para project, which now spans 2,200 hectares [12] Exploration and Data - Exploration data from Latin Metals, combined with historical data from Vale Exploration Peru, has defined multiple high-priority drill targets [3][10] - Vale had previously identified four priority drill targets and secured permits but did not conduct drilling [10] Project Development Plans - The company plans to initiate the drill permitting process shortly and is actively seeking a partner to fund and advance the project [4][7] - The Para project is located in Peru's Coastal Copper Belt, known for its favorable geology and infrastructure [12] Historical Context - Vale Exploration Peru conducted extensive groundwork on the Para project from 2013 to 2017, including geological mapping and geophysical surveys [10] - Latin Metals has validated and expanded upon Vale's work through systematic geochemical sampling [10][12]
Latin Metals Expands Para Copper Project, Peru
Globenewswire· 2025-08-13 12:20
Defines Drill TargetsVANCOUVER, British Columbia, Aug. 13, 2025 (GLOBE NEWSWIRE) -- Latin Metals Inc. ("Latin Metals" or the "Company") - (TSXV: LMS) (OTCQB: LMSQF) is pleased to announce that its 100% owned subsidiary Zafiro Mining S.A.C. has acquired additional mineral rights contiguous to the Para copper project ("Para" or the "Project") in southern Peru. This acquisition expands the Project to the south and secures coverage over key drill targets (Figures 1 and 2). Key Takeaways: New Land Secured: Strat ...
Andina Copper Commences Trading
Thenewswire· 2025-08-13 12:10
Core Viewpoint - Andina Copper Corporation is a South America-focused copper explorer with significant projects in Argentina, Colombia, and Chile, aiming to create substantial shareholder value through its exploration activities [2][3]. Company Overview - Andina Copper Corporation, formerly known as Pampa Metals Corporation, is listed on the Canadian Stock Exchange (CSE:ANDC), Frankfurt (FSE:FIR), and OTC (OTCQB:PMMCF) [3]. - The company holds two significant discoveries along the world's premier copper-producing belt and has an undrilled copper-gold target near Marimaca Copper's Pampa Medina sulphide and Pias discoveries [2][4]. Exploration Activities - Rapid exploration and advancement of the Piuquenes porphyry Cu-Au project in San Juan, Argentina, with preparations for the 2025/26 field season underway [7]. - Drilling is set to recommence at the Cobrasco porphyry Cu-Mo project in Chocó, Colombia, with field mobilization imminent [7]. - Initial assessment of the Mantau Cu-Au target in Antofagasta, Chile, is ongoing with field reconnaissance [7]. - The company is pursuing a dual listing on the Australian Securities Exchange (ASX) and the TSX Venture Exchange (TSXV) [7].
Amerigo’s MVC Resumes Fresh Tailings Processing
Globenewswire· 2025-08-13 11:30
Core Viewpoint - Amerigo Resources Ltd. has provided an operational update regarding its Minera Valle Central (MVC) operation, highlighting the resumption of operations at the El Teniente underground copper mine and the processing of fresh tailings [1][2][4]. Group 1: Operational Updates - The El Teniente underground copper mine received approval to restart operations in eight out of twelve sectors, with operations resuming on August 9, 2025 [2]. - Following the restart, MVC began processing fresh tailings from El Teniente on the night of August 10, 2025 [2]. - Prior to the restart, operations at El Teniente were suspended due to a seismic event that resulted in the death of six workers, leading to a temporary halt in the supply of fresh tailings to MVC [3]. Group 2: Production Expectations - Amerigo anticipates that daily throughput from fresh tailings will be lower than initially forecasted in MVC's 2025 production schedule until operations at El Teniente normalize [4]. - The company plans to mitigate production impacts by increasing the processing of historic tailings during this period [5]. Group 3: Company Overview - Amerigo Resources Ltd. is an innovative copper producer with a long-term relationship with Codelco, the world's largest copper producer, and processes both fresh and historic tailings from the El Teniente mine [6].
南华期货铜风险管理日报-20250812
Nan Hua Qi Huo· 2025-08-12 02:49
南华期货铜风险管理日报 2025年8月12日 南华有色金属研究团队 肖宇非 投资咨询证号:Z0018441 投资咨询业务资格:证监许可【2011】1290号 铜价格波动率(日度) | 最新价格 | 价格区间预测(月度) | 当前波动率 | 当前波动率历史百分位 | | --- | --- | --- | --- | | 79020 | 73000-80000 | 11.64% | 22.6% | source: 南华研究,同花顺 铜风险管理建议(日度) | 行为导向 | 情景分析 | 现货敞口 | 策略推荐 | 套保工具 | 买卖方向 | 套保比例 | 建议入场区间 | | --- | --- | --- | --- | --- | --- | --- | --- | | 库存管理 | 产成品库存偏高,担心价格下跌 | 多 | 做空沪铜主力期货合约 | 沪铜主力期货合约 | 卖出 | 75% | 82000附近 | | | | | 卖出看涨期权 | CU2510C82000 | 卖出 | 25% | 波动率相对稳定时 | | 原料管理 | 原料库存较低,担心价格上涨 | 空 | 做多沪铜主力期货合约 | 沪铜 ...
Barrick(GOLD) - 2025 Q2 - Earnings Call Transcript
2025-08-11 16:02
Financial Data and Key Metrics Changes - Barrick reported adjusted earnings per share of $0.47, more than doubling compared to the previous year and marking the highest level since 2013 [5][10] - The company finished the quarter in a net cash position, allowing for share buybacks and a total dividend of $0.15 per share, which includes a $0.05 performance top-up [6][10] - Net cash provided by operating activities was €1,330,000,000, up 35% from the previous quarter, excluding interest and income taxes [10] Business Line Data and Key Metrics Changes - Gold production improved across the portfolio, with significant contributions from Nevada Gold Mines, Pueblo Viejo, Kibali, and Lomana [7][14] - In copper, production volumes increased, and unit costs decreased, reflecting a clear year-on-year and quarter-on-quarter improvement [8][10] - The sale of the Donlin Gold Project for $1,000,000,000 was completed, further sharpening the growth pipeline [9] Market Data and Key Metrics Changes - The company continues to leverage high gold prices, with production tracking guidance and expectations for a stronger second half of the year [5][10] - The performance in Latin America and Asia Pacific was solid, with improvements noted at Pueblo Viejo and Valadero [22][23] Company Strategy and Development Direction - Barrick is focused on disciplined capital allocation and building long-term profitability through Tier one assets and new projects [11][38] - The company aims to grow production by 30% organically by 2029, emphasizing the importance of long-life assets and strong partnerships [38][39] - The strategic focus includes optimizing the life of mines to ensure long-term delivery rather than maximizing net present value [89] Management's Comments on Operating Environment and Future Outlook - Management highlighted the uncertain global environment but reinforced the value of a diversified portfolio and effective operations [4][10] - The second half of the year is expected to deliver higher volumes and lower costs, aligning with full-year guidance [37][38] - Management remains optimistic about the potential of the Fourmile asset, which is emerging as a significant discovery [15][21] Other Important Information - Health and safety remain a core priority, with a 50% decrease in lost time injuries year-to-date compared to the previous year [12] - The company is actively managing the situation in Mali and is committed to finding a constructive path forward [32] Q&A Session Summary Question: Timeline for arbitration process regarding Lulu and Kotto - Management believes a resolution can be found and has engaged in various mediation efforts, with the tribunal already constituted [40][41] Question: Fit of Hemlo, Tongon, and Zaldivar in the portfolio - Management is focused on rationalizing the portfolio to align with their disciplined approach to Tier one long-life assets [44][45] Question: Updates on Fourmile's scope and timeline - Management aims to have a scoping position for Fourmile by the end of the year, with plans for prefeasibility or feasibility studies thereafter [46][47] Question: Situation regarding the book value of Lulu Gonkoto - The asset was deconsolidated due to loss of control, leading to a write-off, but the company still expects benefits from its investment [54][55] Question: Update on Jabal Saeed project in Saudi Arabia - The project is a small high-grade copper mine with a ten-year life, and Barrick is expanding its partnership with Ma'aden for further exploration [58][60] Question: Electricity situation in Zambia for Lumwana - Management has worked with state utilities to improve power availability and is investing in technology to unlock lost power in the grid [63][64]