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Newmont Mining Increases Quarterly Dividend

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Newmont Mining Corp. (NYSE: NEM) has upped its quarterly dividend to $0.075 per share of common stock, payable on Sept. 28 to shareholders of record at the close of business on Sept. 14, the company says. The previous dividend was $0.05 per share, which was paid in June. This dividend is determined by the company’s gold price-linked dividend policy. The $0.075-per-share dividend is triple the one paid in the prior-year quarter, Newmont adds.

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

 

Klondex Mines Reports Record 2Q Production

Wednesday July 19, 2017 8:22

Klondex Mines Ltd. (TSX: KDX; NYSE MKT: KLDX) reports that preliminary second-quarter output at its  Nevada and Canadian operations totaled a record 66,629 gold-equivalent ounces, up 94% from the first quarter. The company mined 53,248 gold-equivalent ounces, in line with its expectations, and processed all of the ore that was stockpiled at the Midas mill at the end of the first quarter. “We continue to make solid progress ramping up True North and Hollister, both of which are expected to make significant contributions to our production in the second half of the year,” says Paul Huet, president and chief executive officer. “We are well positioned to meet our annual company-wide production guidance of 210,000 to 225,000 gold-equivalent ounces.”

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

 

Teranga: Sabodala Proven, Probable Gold Reserves Increase

Wednesday July 19, 2017 8:22

Teranga Gold Corp. (TSX, ASX: TGZ) announces that proven and probable reserves at its Sabodala gold operation in Senegal increased to 2.7 million ounces as of June 30, an increase of more than 400,000 over the previous estimate. This more than replaces reserves depleted from production since the Dec. 31, 2015, the company says. This also means gold production is expected to exceed 1 million ounces in total over the next five years, or a minimum of 200,000 ounces per year through 2022. The company says it will continue a multi-year drilling program intended to further define near-surface resources and reserves on the prospective Niakafiri trend. “The majority of the new reserves come from Niakafiri, which is located less than five kilometers from the Sabodala process plant,” says Richard Young, president and chief executive officer. He says “organic growth improves our five-year production and cash flow profile as we re-sequence the Sabodala mine plan to bring forward the development of the Niakafiri open-pit deposit and defer underground development.”

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

 

Asanko: 2Q Gold Put Declines But Improvement Expected In 2H

Wednesday July 19, 2017 8:22

Asanko Gold Inc. (TSX, NYSE MKT: AKG) reports that gold output fell in the second quarter from the first but looks for improvement over the remainder of the year. The company lists April-June gold production of 46,017 ounces, compared to 58,187 in the January-March quarter. However, 2017 production guidance was maintained at 230,000 to 240,000 ounces. Asanko reports second-quarter gold revenue of $60 million at an average realized price of $1,238 per ounce. Peter Breese, president and chief executive officer, says the company anticipated that second-quarter output would be lower as the company mined a low-grade zone in the Nkran pit, ramped up mining activities at the newly established Akwasiso pit and had temporary shutdowns in the processing plant for a volume upgrade, which has been completed ahead of schedule. In the second half, the company looks for improvement as the plant operates at a higher rate and the grade at Nkran improves.

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

 

Nunavut Board Recommends License For Sabina Gold Project

Wednesday July 19, 2017 8:22

Sabina Gold & Silver Corp. (TSX: SBB) reports that the Nunavut Impact Review Board has recommended to the minister of indigenous and northern affairs for Canada that development of the Back River gold project proceed to the licensing phase. The recommendation concludes a five-year NIRB review and public-hearing processes.  “We are moving ever closer to our goal of becoming a mid-tier gold producer in one of the world’s best mining jurisdictions,” says Bruce McLeod, president and chief executive officer. Should the minister accept NIRB’s recommendation, a project certificate could be issued in the fourth quarter, Sabina says.

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

 

Taseko Receives Provincial OK For Work At New Prosperity

Wednesday July 19, 2017 8:22

Taseko Mines Ltd. (TSX: TKO; NYSE MKT: TGB) says a multi-year permit from British Columbia government has been approved, clearing the way for exploratory work at the New Prosperity gold-copper project site. “The value of New Prosperity has yet to be unlocked, however, I believe the magnitude of New Prosperity’s benefits are such that it will be developed into a world-class mine with the highest environmental and safety standards, similar to our nearby Gibraltar Mine,” says Russell Hallbauer, president and chief executive officer. “New Prosperity would be similar in size to Gibraltar, which currently employs 650 people from the Cariboo region.” In addition to securing provincial approval, the project also requires specific authorizations from the government of Canada.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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