Roxgold Announces Share Repurchase Program
Roxgold Inc. (TSX: ROXG) has announced a program to buy back shares. Specifically, Roxgold is implementing a “normal course issuer bid,” which has been accepted by the Toronto Stock Exchange, because the company “believes that from time to time the market price of Roxgold’s common shares does not reflect the underlying value of the common shares.” The company says it ended the first quarter with a cash balance of $72.2 million. “The NCIB will allow Roxgold to purchase common shares for cancellation if, in the opinion of management, the purchases can be made on terms which will enhance the value of the remaining outstanding common shares,” Roxgold says. The program will begin Wednesday. Roxgold can purchase up to 10 million shares, representing 2.7% of Roxgold’s outstanding shares).
By Allen Sykora of Kitco News; email@example.com
Pan American Silver: Huaron Mine Shut Down By Blockade
Monday April 30, 2018 08:08
Operations at Pan American Silver Corp.’s (NASDAQ: PAAS; TSX: PAAS) Huaron mine have been suspended since Tuesday due to road blockades by members of the nearby Huayllay community, the company reported just ahead of the weekend. “The community members have demanded compensation from the company for alleged impacts to community land, as well as additional service contracts for construction work, haulage and material supply to the mine,” Pan American said. The company added that it is actively involved in discussions with community members and is taking part in a mediation process being led by the Social Affairs General Office of the Peruvian Ministry of Energy and Mines. The mine is located in Peru.