Make Kitco Your Homepage

Goldcorp Announces First Gold At Pyrite Leach Project

Kitco News

Goldcorp Inc. (TSX: G; NYSE: GG) announces the first gold has been achieved at the Peñasquito's pyrite leach project in Mexico. Commissioning began in the third quarter, and the PLP is now processing 100% of the existing plant tailings, operating 24 hours a day. The PLP is expected to recover approximately 35% of the gold and 42% of the silver currently in the tailings and is expected to add production of over 1 million ounces of gold and 45 million ounces of silver over the current life of the mine, Goldcorp says. David Garofalo, president and chief executive officer, says the project was completed both ahead of budget and on schedule.

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

 

SSR Mining Makes C$30.6 Million Investment In SilverCrest Metals

Thursday November 29, 2018 08:18

SSR Mining Inc. (NASDAQ, TSX: SSRM) says it has agreed to purchase some 8.2 million shares of SilverCrest Metals Inc. (TSXV: SIL; NYSE American: SILV) at a price of C$3.73 each for a total of C$30.6 million.  "SilverCrest's Las Chispas project is a compelling investment proposition for SSR Mining by providing exposure to an exciting high-grade development project with exploration upside in a favorable mining jurisdiction,” says Paul Benson, president chief executive officer of SSR. He says his company is looking forward to “building a relationship” with SilverCrest. The private placement is expected to close around Dec. 7, which will leave SSR Mining owning 9.9% of outstanding shares of SilverCrest.

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

 

Lundin Mining Announces Share Buybacks

Thursday November 29, 2018 08:18

Diversified base-metals miner Lundin Mining Corp. (TSX: LUN; Nasdaq Stockholm: LUMI) announces a share buyback program for up to 63.7 million shares on the Toronto Stock Exchange, subject to TSX approval. The shares would be purchased at market prices, Lundin says. The total represents some 10% of current outstanding shares. The company also lists production guidance for the next three years, with copper production expected to increase based on an improved profile at Candelaria, Lundin says. The consolidated 2019 copper-production forecast is 199,000 to 218,000 tonnes, rising to a range of 232,000 to 251,000 by 2021. Zinc output is seen at 147,000 to 157,000 tonnes next year, rising to 231,000 to 241,000 by 2021. The zinc-production guidance incorporates a zinc-expansion project, with commissioning of surface facilities expected in early 2020, Lundin says. Nickel output is seen at 12,000 to 15,000 tonnes next year, rising to 13,000 to 16,000 by 2021.

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.

Precious Metal Charts

Follow Kitco News