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Alacer: On Track To Meet Lower End Of Guidance

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Alacer Gold Corp. (TSX: ASR; ASX: AQG) reports third-quarter gold production of 26,160 ounces from the Çöpler Gold Mine in Turkey. “The company expects to meet the lower end of the full-year consolidated production guidance of 160,000 to 230,000 ounces,” Alacer says. Alacer is 80% owner of the Çöpler Gold Mine.

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

 

Coeur Mining Completes Acquisition of Northern Empire Resources

Thursday October 4, 2018 08:30

Coeur Mining, Inc. (NYSE: CDE) says it has completed the acquisition of Northern Empire Resources Corp. (TSXV: NM). The deal, announced in August, valued Northern Empire at $90 million. “The acquisition of Northern Empire represents a unique opportunity for Coeur to bolster its development pipeline with high-quality growth projects and is strongly aligned with our strategy to deliver low-cost production and growth in top jurisdictions,” said Mitchell J. Krebs, Coeur’s president and chief executive officer. Northern Empire’s principal asset is the Sterling gold project In Nevada. This is a past-producing mine with all major permits in hand.  Coeur already has the Rochester Mine in Nevada. “Restarting the Sterling open-pit mine will allow us to add near-term, high-margin production and cash flow with minimal expected upfront capital, while the significant exploration potential at the Crown Block offers the opportunity for a second, larger future operation that can create significant, long-term stockholder value,” Krebs says.

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

 

Pretium Resources Gets Commitment For New $480 Million Debt Facility

Thursday October 4, 2018 08:30

Pretium Resources Inc. (TSX, NYSE: PVG), which has achieved steady-state production at the still-new Brucejack Mine in British Columbia, reports signing a commitment letter for a $480 million debt facility with The Bank of Nova Scotia, Societe Generale and ING Capital LLC. This will be used to refinance the existing construction credit facility of approximately $423 million due on Dec. 31 for construction of Brucejack, the company says. However, funds will also be available for general corporate purposes including, if necessary, the repurchase of 100% of the existing 8% precious-metals stream. The loan facility will mature four years from the closing date, which is expected this quarter.

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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