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Franco-Nevada Reports Third-Quarter Profit

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Royalty and streaming company Franco-Nevada (NYSE, TSX: FNV) reports third-quarter adjusted net income of $54.6 million, or 29 cents a share, down from $55.3 million, or 30 cents, in the same period a year ago. Net income came in at $52.1 million, or 28 cents a share, compared to $60 million a year ago. Franco-Nevada reports sales of 120 million gold-equivalent ounces in the third quarter, down modestly from 123.8 million in the year-ago period. The company made the final installment on a $1 billion funding commitment for the Cobre Panama project, reports David Harquail, chief executive officer. “Revenues are expected to increase by more than 30% once Cobre Panama ramps up towards full production, Candelaria returns to normal operations, and with the continued development of our U.S. oil & gas assets, we are also pleased to again increase our oil & gas revenue guidance for 2018,” he says. Franco-Nevada says it now expects to generate $75 million to $85 million in revenue from oil and gas for 2018, up from updated guidance in August of $65 million to $75 million. The board of directors declared a quarterly dividend of 24 cents per share to be paid on Dec. 20 to shareholders of record on Dec. 6.

By Allen Sykora of Kitco News;


Hecla Reports On Largest-Ever Quarterly Exploration Program

Tuesday November 06, 2018 08:18

Hecla Mining Co. (NYSE: HL) says it undertook the largest quarterly exploration program in company history during the third quarter. The company reports up to 20 drills at 10 properties and five operating mines, all in North America. Reserve price assumptions to determine this year’s reserves are $14.50 an ounce for silver, $1,200 an ounce for gold, $1.15 a pound for zinc and 90 cents a pound for lead, which are all at or below current spot prices and about the same as last year. Data on new reserves and resources will be provided in first quarter, Hecla says. The company says it has achieved a number of successes, including Hollister, where new mineralization was identified. “While exploration expense will be less in the fourth quarter, it is not for lack of good results,” says Phillips S. Baker, Jr., president and chief executive officer. “All of Hecla’s programs this year had success that will justify follow-up in the future. But our focus in the fourth quarter will be at our Nevada operations and San Sebastian as we work towards the sort of mine life that we have at Greens Creek and Casa Berardi.”

By Allen Sykora of Kitco News;


Alacer: First Ore Processed Through Sulfide Plant

Tuesday November 06, 2018 08:18

Alacer Gold Corp. (TSX: ASR; ASX: AQG) announces processing of the first sulfide ore through its
sulfide plant. “We can now confidently say the Çöpler Mine will deliver tremendous value for many years to come,” says Rod Antal, president and chief executive officer. “We look forward to providing updates on the performance of the sulfide plant over the course of the coming year." Commercial production is expected in early 2019, the company reports.

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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