Precious Metals Mining
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MAG Announces Second Dividend
Globenewswire· 2025-05-08 10:45
Core Viewpoint - MAG Silver Corp. has declared a total dividend of $0.20 per share, consisting of a fixed dividend of $0.02 and a performance-linked dividend of $0.18, reflecting strong cash flow from the Juanicipio project [1][2]. Group 1: Dividend Declaration - The total dividend of $0.20 per share is payable on May 28, 2025, to shareholders on record as of May 19, 2025 [1]. - The performance-linked dividend represents approximately 30% of the $61.5 million cash received from the Juanicipio project [1]. Group 2: Company Strategy - The company emphasizes a disciplined and transparent approach to returning capital to shareholders, aligning returns with operational results [2]. - The structure of the dividend allows shareholders to have direct exposure to the company's success while maintaining flexibility for future growth [2]. Group 3: Company Overview - MAG Silver Corp. is a Canadian mining and exploration company focused on high-grade precious metals projects in the Americas [3]. - The company holds a 44% joint venture interest in the Juanicipio Mine, which has a design capacity of 4,000 tonnes per day and is operated by Fresnillo plc [3]. - In addition to Juanicipio, MAG is conducting exploration programs at the Deer Trail Project in Utah and the Larder Project in Canada [3].
Fortuna Reports Results for the First Quarter of 2025
Globenewswire· 2025-05-08 00:02
Financial Performance - The company reported a record free cash flow from operations of $111.3 million in Q1 2025, a 30% increase quarter over quarter [6][14] - Attributable net income from continuing operations was $61.7 million or $0.20 per share, a 131% increase compared to Q4 2024 [11][17] - Consolidated sales for Q1 2025 were $290.1 million, a 44% increase from $200.9 million in Q1 2024 [6][8] Cost Metrics - Consolidated cash cost per gold equivalent ounce from continuing operations was $929 in Q1 2025, up from $888 in Q4 2024 [8][15] - All-in sustaining costs (AISC) per gold equivalent ounce from continuing operations decreased to $1,640 in Q1 2025 from $1,690 in Q4 2024 [10][16] - The company achieved a free cash flow margin of 38% in Q1 2025, up from 31% in the previous quarter [6] Production and Operations - Gold equivalent production for Q1 2025 was 103,459 ounces, with a consolidated cash cost of $929 per ounce [6][8] - The Séguéla Mine produced 38,500 ounces of gold at an average grade of 2.76 g/t, a 12% increase in production compared to Q1 2024 [25][23] - The Yaramoko Mine produced 33,073 ounces of gold, with a cash cost of $1,059 per ounce, reflecting a 22% increase in tonnes milled [31][32] Strategic Developments - The company closed the sale of the San Jose Mine in Mexico and entered into a share purchase agreement to sell its interest in Roxgold Sanu SA, which is expected to provide $70 million in cash [6][14] - The divestment strategy aims to reallocate approximately $50 million in capital towards higher-value opportunities [6][7] Safety and Environmental Performance - The total recordable injury frequency rate (TRIFR) improved to 0.98 in Q1 2025 from 1.33 in Q4 2024, with zero lost time injuries reported [6][10] - Despite safety improvements, a fatal accident involving a subcontractor occurred at the Séguéla Mine in February [6]
NOVAGOLD Announces Proposed Public Offering of Common Shares
GlobeNewswire News Room· 2025-05-06 22:00
Core Viewpoint - NOVAGOLD Resources Inc. plans to offer and sell up to 43,500,000 common shares in a public offering, with an additional option for underwriters to purchase up to 6,525,000 shares [1][2] Group 1: Public Offering Details - The public offering is subject to market conditions and other closing conditions, with no assurance on completion or terms [1] - Citigroup, RBC Capital Markets, and BMO Capital Markets are acting as joint book-running managers for the public offering [3] - A shelf registration statement on Form S-3 was filed with the SEC on April 23, 2025, and became effective upon filing [4] Group 2: Use of Proceeds - The net proceeds from the offering and concurrent private placement will fund the acquisition of an additional 10% ownership interest in Donlin Gold LLC and for general corporate purposes, including updating the feasibility study [2][11] Group 3: Private Placement - The concurrent private placement will involve common shares sold to major shareholders at the public offering price, with shares not registered under the U.S. Securities Act and subject to a hold period under Canadian securities laws [5]
Sandstorm Gold Royalties Reports Record Operating Results in First Quarter 2025
Prnewswire· 2025-05-06 20:44
Core Viewpoint - Sandstorm Gold Ltd. reported strong financial results for Q1 2025, driven by high commodity prices, with record revenues and net income, alongside ongoing share buybacks and deleveraging efforts [2][7][12]. Financial Highlights - Record revenue of $50.1 million, up from $42.8 million in Q1 2024 [7][12]. - Production of 18,492 attributable gold equivalent ounces, down from 20,316 ounces in the same period last year [7][12]. - Cash flows from operating activities of $40.8 million, compared to $32.6 million in Q1 2024 [7][15]. - Net income of $11.3 million, a significant improvement from a net loss of $3.9 million in Q1 2024 [7][15]. Shareholder Returns - The company repurchased approximately 3.1 million common shares for $19.1 million during Q1 2025, with an additional 270,000 shares purchased for $2.0 million post-quarter [2][3]. - Sandstorm renewed its normal course issuer bid (NCIB) allowing for the purchase of up to 20 million common shares, indicating a strategic focus on share repurchases [3]. Deleveraging Efforts - The company made $15 million in net debt repayments during the quarter, with an additional $12 million repaid after the quarter ended [4]. - As of May 6, 2025, Sandstorm has an outstanding balance of $328 million on its revolving credit facility, with an undrawn balance of $297 million [4]. Production and Revenue Breakdown - Approximately 73% of gold equivalent production was from precious metals, 20% from copper, and 7% from other commodities [12]. - Revenue from precious metals was $34.8 million, copper revenue was $11.3 million, and other commodities contributed $4.0 million [13]. Project Developments - The Hod Maden joint venture is advancing with approved early-works capital investments of $60–$100 million for 2025 [5]. - Glencore is expected to submit an application for the MARA copper-gold project under Argentina's RIGI, which aims to support large investments [6][8]. Production Outlook - Attributable gold equivalent ounces are forecasted to be between 65,000 and 80,000 ounces in 2025, with long-term production expected to reach approximately 150,000 ounces by 2030 [11].
Wall Street Analysts Predict a 32.81% Upside in Triple Flag (TFPM): Here's What You Should Know
ZACKS· 2025-05-05 15:01
Group 1 - The core viewpoint is that Triple Flag Precious Metals (TFPM) has significant upside potential, with a mean price target of $27.81 indicating a 32.8% increase from its current price of $20.94 [1] - Analysts have set 11 short-term price targets for TFPM, ranging from a low of $19 to a high of $36.50, with a standard deviation of $6.24, suggesting variability in estimates [2] - The consensus among analysts indicates that TFPM is expected to report better earnings than previously estimated, which historically correlates with stock price increases [4][11] Group 2 - The Zacks Consensus Estimate for TFPM's current year earnings has increased by 12.3% over the past month, with five estimates revised upward and no negative revisions [12] - TFPM holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate factors, indicating strong potential for upside [13] - While price targets are often viewed skeptically, the direction implied by these targets can serve as a useful guide for potential stock movements [10][11]
Goliath Resources Engages JDS Energy & Mining Inc. To Forge Plans To Drive An Exploration Adit At Its Surebet Discovery, Golddigger Property, Golden Triangle, B.C.
Globenewswire· 2025-05-05 11:08
Core Viewpoint - Goliath Resources Limited has engaged JDS Energy & Mining Inc. to assess the viability and development of an underground exploration adit at the Surebet zone of its Golddigger property, which is expected to enhance exploration efficiency and access high-grade gold zones [1][2]. Group 1: Project Development - The underground adit will provide access to the Bonanza Zone, which is approximately 200 meters above the valley floor, allowing for more efficient drilling and geological confirmation of high-grade gold lodes [2][4]. - The adit will facilitate geological confirmation of the thickness and continuity of the Bonanza Zone, potentially enabling bulk sampling and reducing drilling costs [5][6]. Group 2: Geological Insights - Recent geological studies indicate that gold mineralization occurs in two separate events with different temperatures, referred to as "Goldilocks," with the highest intercepts found where the Bonanza Zone intersects with the Surebet Zone [2]. - The Surebet discovery shows exceptional continuity and excellent metallurgy, with gold recoveries of 92.2%, and no deleterious elements such as mercury or arsenic present [6]. Group 3: Property Overview - The Golddigger Property covers 91,518 hectares in the Golden Triangle of British Columbia, an area known for hosting significant mines like Eskay Creek and Premier [3]. - Goliath controls 56 kilometers of the Red Line, a geological contact that is crucial for exploring gold-copper-silver mineralization [3]. Group 4: Infrastructure and Accessibility - The property is strategically located near communities with existing infrastructure, including a permitted mill site and direct barge access to Prince Rupert [7][8]. - Additional infrastructure includes proximity to the Dolly Varden Silver Mine Road and access to major transportation routes, enhancing logistical support for mining operations [8]. Group 5: Company Background - Goliath Resources is focused on precious metals exploration in the Golden Triangle and is a member of CASERM, which supports research in mining [12]. - The company has strategic shareholders, including Crescat Capital and McEwen Mining Inc., which may provide additional support for its projects [12].
Apollo Silver Appoints Ross McElroy as President and CEO
Globenewswire· 2025-05-05 11:00
VANCOUVER, British Columbia, May 05, 2025 (GLOBE NEWSWIRE) -- Apollo Silver Corp. (“Apollo” or the “Company”) (TSX.V:APGO, OTCQB:APGOF, Frankfurt:6ZF0) is pleased to announce the appointment of Mr. Ross McElroy as President and CEO, effective immediately, succeeding Mr. Andrew Bowering, who will remain as Chair of the Board. Mr. McElroy joins Apollo following the successful acquisition of Fission Uranium, a company he co-founded and eventually led as CEO, by Paladin Energy in a $1.14 billion transaction. Mr ...
Halcones Precious Metals Closes Non-Brokered Offering
Globenewswire· 2025-05-02 11:00
Group 1 - Halcones Precious Metals Corp. has successfully closed a non-brokered private placement, issuing 10,204,153 units at a price of $0.07 per unit, resulting in total gross proceeds of $714,290.71 [2] - Each unit consists of one common share and one-half of a common share purchase warrant, with each whole warrant allowing the purchase of one common share at an exercise price of $0.10 for 36 months [2] - The net proceeds from the offering will be utilized for exploration work on the Polaris Project and for general corporate working capital [3] Group 2 - Insiders participated in the offering, receiving a total of 2,571,428 units, which qualifies as a related party transaction under Multilateral Instrument 61-101 [4] - The offering is exempt from formal valuation and minority shareholder approval requirements as the value of securities issued to insiders does not exceed 25% of the company's market capitalization [4] - The company paid cash finder's fees of $9,099.30 and issued 129,990 finder's warrants, each allowing the acquisition of one common share at a price of $0.07 for 36 months [5] Group 3 - Halcones Precious Metals Corp. is focused on exploring and developing gold-silver projects in Chile, supported by a team with a strong background in exploration success in the region [7]
Endeavour Silver Completes Acquisition of Minera Kolpa
Globenewswire· 2025-05-01 21:00
Core Viewpoint - Endeavour Silver Corp. has successfully completed the acquisition of Compañia Minera Kolpa S.A. and its main asset, the Huachocolpa Uno Mine, for a total consideration of $145 million [1][2]. Acquisition Details - The acquisition includes $80 million in cash and $65 million in common shares, with potential additional contingent payments of up to $10 million [2]. - Endeavour will also assume approximately $20 million in net debt from Minera Kolpa [2]. Financing - The company closed a $35 million copper stream with Versamet Royalties Corporation to fund the cash component of the acquisition [3]. - Additionally, a $50 million bought deal equity financing was previously announced to support the acquisition [3]. About Kolpa Mine - The Huachocolpa Uno Mine has over 25 years of continuous production and currently operates at a capacity of 1,800 tonnes per day (tpd) [4]. - In 2024, the mine produced 2.0 million ounces of silver and in Q1 2025, it produced 567,269 ounces of silver [4]. - The mine is expected to expand its capacity to 2,500 tpd, with an environmental permit obtained for this expansion [5]. Capital Expenditures - Sustaining capital for the remainder of the year is estimated at $13 million, which includes various infrastructure projects [5]. - An $8 million exploration program is planned to further define and expand recent discoveries [6]. Company Overview - Endeavour Silver is a mid-tier precious metals company focused on sustainable mining practices, with operations in Mexico and Peru [7]. - The company aims to become a premier senior silver producer and has a portfolio of exploration projects in multiple countries [7].
TUDOR GOLD Receives Five Year Exploration Permit to Advance the Treaty Creek Project
Newsfile· 2025-05-01 15:48
TUDOR GOLD Receives Five Year Exploration Permit to Advance the Treaty Creek ProjectMay 01, 2025 11:48 AM EDT | Source: Tudor Gold Corp.Vancouver, British Columbia--(Newsfile Corp. - May 1, 2025) - Tudor Gold Corp. (TSXV: TUD) (FSE: H56) (the "Company" or "Tudor") is pleased to announce that it has received exploration permits from the British Columbia Ministry of Mining and Critical Minerals for its flagship Treaty Creek Property, located in the heart of the Golden Triangle of Northwestern Br ...