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Yamana Files 'Early Warning Report' On Possible Offer For Brio Gold

Kitco News

Yamana Gold Inc. Inc. (TSX: YRI) (NYSE: AUY) announces that the company has filed an “early warning report” under National Instrument 62-103 in connection with Leagold Mining Corp.’s previously announced intention to make an offer to acquire all outstanding common shares of Brio Gold Inc. In the event Leagold makes an offer, Yamana says it has agreed to tender its 63 million Brio shares that represent 53.6% of all outstanding Brio shares, or vote all of its Brio shares in favor of a negotiated plan of arrangement or other business combination between Leagold and Brio Gold.

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

 

Silvercorp Metals Reports Quarterly Profit

Friday February 09, 2018 08:14

Silvercorp Metals Inc. (TSX, NYSE American: SVM) reports that net income was $12.7 million, or 8 cents per share in its fiscal third quarter, compared to $13.1 million, also 8 cents, in the same period a year ago. Sales included 1.5 million ounces of silver, 15.8 million pounds of lead and 6.4 million pounds of zinc, compared to 1.7 million ounces of silver, 19.5 million pounds of lead and 5.7 million pounds of zinc in the prior-year quarter. All-in sustaining cost per ounce of silver, after by-product credits, were $3.16, compared to $1.87 a year ago. The company’s says its quarterly results were mainly impacted by year-on-year increases of 8% and 37% in the realized selling prices for lead and zinc, respectively; a 3% decrease in the selling price for silver; less metals sold as inventory built up; and higher per-tonne production costs.

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

 

Centerra Reports Increase In Gold, Copper Reserves

Friday February 09, 2018 08:14

Centerra Gold Inc. (TSX: CG) says end-of-2017 proven and probable gold mineral reserves increased to 16.3 million ounces (746.8 million tonnes at 0.7 grams per tonne gold) from 16 million ounces a year ago. Copper proven and probable reserves were estimated at 2,568 million pounds (575.3 tonnes at 0.202% copper), up from 2,049 million pounds a year ago. The mineral reserve for the Kemess Underground -- of 1.9 million ounces of gold and 630 million pounds of copper -- have been included in the mineral reserve statement following the completion of Centerra’s acquisition of AuRico Metals on Jan. 8. “With the recent acquisition of AuRico Metals, including the Kemess Project’s mineral reserves and resources, and our successful brownfields exploration at the Mount Milligan Mine and the Öksüt project, we were able to offset the depletion of 1.1 million contained ounces of gold during 2017,” says Scott Perry, president and chief executive officer.

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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