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Newmont Declares Quarterly Dividend Of $0.05 Per Share

The board of directors of Newmont Mining Corp. (NYSE: NEM) declared a quarterly dividend of $0.05 per share of common stock, payable on March 23 to holders of record at the close of business on March 9. The dividend is the same as the one paid at the end of December, but nevertheless is the first under the company’s new gold price-linked dividend policy that was approved in the fourth quarter and went into effect in the first quarter, the company says. Newmont's price-linked dividend policy includes a quarterly payable dividend that is now based on the average LBMA P.M. Gold Price for the preceding quarter. The company is scheduled to release its fourth-quarter earnings report on Tuesday.

By Allen Sykora of Kitco News; asykora@kitco.com

 

Brio Gold Reports 2016 Loss But Output Tops Guidance

Friday February 17, 2016 08:04

Brio Gold Inc. (TSX: BRIO), which was spun off from Yamana Gold Inc. (TSX: YRI; NYSE: AUY) last year even though Yamana still owns a majority interest, reports a loss for the year. The 2016 net loss was $16.9 million, or 37 cents per share, compared to a net loss of $69.4 million, or $4.40, for 2015. The net loss was due in large part to impairment charges, reorganizations costs, losses on indirect tax credits and foreign-exchange losses, Brio Gold says. Excluding special charges, the adjusted loss was $17.9 million, or 39 cents per share, compared to an adjusted gain of $19.3 million, or $1.22 per share, for the year before. The company says 2016 included a non-cash tax gain on unrealized foreign-exchange losses of $31.3 million, compared to a loss of $81.2 million in 2015. Excluding this impact, adjusted earnings would have increased $75.3 million from 2015 to 2016, Brio Gold says. The company listed record full-year 2016 production of 189,662 ounces of gold, up 32% from 2015 and exceeding the guidance range of 183,000 to 188,000. "2016 was a transformational year for Brio Gold as we became a standalone public company and operationally delivered against our objectives," says Gil Clausen, president and chief executive officer. He later adds, “We have a solid production platform along with low-risk, near-term growth, which is driven by our recently acquired RDM mine and our Santa Luz mine entering re-commissioning. Each of these mines (is) expected to add, when at full run rate, an average of over 100,000 ounces per year. 2017 will be a year for us to focus on maximizing cash flow to allow for us to execute on our growth plans that get us to 400,000 ounces and move up the mid-tier curve." The company released a three-year operating outlook, including production guidance of 223,000 to 243,000 ounces for 2017. Proven and probable mineral reserves were put at 60.6 million tonnes averaging 1.41 grams of gold per tonne, resulting in contained gold of 2.75 million ounces, an increase of 275% from 2015, the company says.

By Allen Sykora of Kitco News; asykora@kitco.com

 

 

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