Goldcorp Gets TSX Approval For Share-Buyback Plan
Goldcorp Inc. (TSX: G, NYSE: GG) announces plans to buy back shares for cancellation. The company says it has received approval from the Toronto Stock Exchange for its “notice of intention to make a normal course issuer bid." This would allow Goldcorp to purchase for cancellation up to 43.5 million common shares, representing 5% of its 869.5 million outstanding shares as of Oct. 26 over a 12-month period beginning Oct. 31. The NCIB will expire no later than October 30, 2019. The purchases can be made through U.S. and Canadian market places, the company says. “The actual number of common shares that may be purchased and the timing of such purchases will be determined by the company,” Goldcorp says. “Decisions regarding purchases will be based on market conditions, share price, best use of available cash and other factors.” The company’s shares fell last week after Goldcorp reported a third-quarter loss.
By Allen Sykora of Kitco News; firstname.lastname@example.org
Endeavour Lists Maiden Resource Estimate For Fetekro Property
Monday October 29, 2018 09:15
Endeavour Mining (TSX: EDV) has released a maiden resource estimate for the Lafigué target that is located within the Ivorian Fetekro greenfield exploration property. The company reports an indicated resource of 6.8 million tonnes at 2.25 grams per tonne of gold for 494,000 ounces, plus an inferred resource of 3 million tonnes at 2.25 g/t Au for 225,000 ounces. Exploration was launched in 2017 with the objective of discovering a standalone project, Endeavour says. Since, nearly 32,000 meters have been drilled and the exploration program will continue into 2019.“This maiden resource brings us one step closer to attaining our strategic objective of identifying a new project as part of our five-year exploration strategy set in late 2016,” says Sébastien de Montessus, president and chief executive officer.