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Alamos Gold Doubles Dividend Payouts

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Alamos Gold Inc. (TSX, NYSE: AGI) has doubled its dividend payouts, announcing that the board of directors has authorized a change from a one-penny dividend per share quarterly instead of semiannually. “This is expected to double the amount of dividends distributed to shareholders from the $7.8 million paid in 2018,” Alamos says. Meanwhile, global proven and probable mineral reserves were put at 9.7 million ounces of golddown slightly from 9.8 million at the end of 2017, with mining depletion largely offset by increases at Island Gold and Lynn Lake, the company says. Global measured and indicated mineral resources were put at 7.2 million ounces of gold, down 2% due to decreases at Mulatos and El Chanate partially offset by additions at Island Gold and Lynn Lake. Also, Alamos says, global inferred mineral resources increased 13% to 5.4 million ounces.

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

 

Iamgold Reports 23% Rise In Proven, Probable Reserves

Wednesday February 20, 2019 09:00

Iamgold Corp. (TSX: IMG; NYSE: IAG) says proven and probable gold reserves increased by 23% to 17.9 million ounces at the end of 2018. The addition of 3.4 million ounces was primarily due to the previously announced conversion of resources to reserves at Saramacca in Suriname, Côté Gold in Ontario and Boto Gold in eastern Senegal, West Africa, coupled with the previously announced reserve increase at the Essakane Gold Mine following a prefeasibility study. Measured and indicated gold resources increased overall by 13% to 27.9 million ounces at the end of 2018. “In 2018, we continued our work to increase reserve ounces at the company, adding another 3.4 million ounces on top of the 6.7 million ounces we added in 2017, on an attributable basis,” says Steve Letwin, president and chief executive officer. “Over the last two years, we have increased our attributable reserves by 129%, net of mine depletion.”

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

 

Newmont Maintains Quarterly Dividend Of 14 Cents Per Share

Wednesday February 20, 2019 09:00

Newmont Mining Corp. (NYSE: NEM) announces a quarterly dividend of 14 cents per share payable on March 21 to shareholders of record at the close of business on March 7. This is the same as in the previous quarter. Newmont is scheduled to release its fourth-quarter financial and operating results Thursday morning.

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

 

Detour Gold Announces Resignation Of CFO

Wednesday February 20, 2019 09:00

James Mavor has resigned as chief financial officer of Detour Gold Corp. (TSX: DGC) and will leave the company on April 15, Detour says. The company will launch an immediate search for a successor. "The board is taking this opportunity to renew the leadership team at Detour Gold, as it searches for both a permanent CEO and a new CFO to lead the company on the next stage of its development,” says James Gowans, chairman of Detour Gold. Bill Williams is interim chief executive officer.

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

 

Sandstorm Gold 4Q Profit Rises On More Gold-Equivalent Ounces

Wednesday February 20, 2019 09:00

Royalty company Sandstorm Gold Ltd. (NYSE American: SAND, TSX: SSL) reports a rise in its fourth-quarter profit on a higher number of gold-equivalent ounces. Net income of $2.7 million was up from $0.7 million in the same year ago. The number of gold-equivalent ounces sold rose to 14,182 from 12,032. For full-year 2018, the company lists net income of $5.9 million, down from $10.5 million a year earlier. Sandstorm lists record annual gold-equivalent ounces sold of 57,646, up from 54,633 in 2017. Meanwhile, officials listed 2019 guidance for sales of between 63,000 and 73,000 gold-equivalent ounces. During the fourth quarter, Sandstorm announced plans to purchase up to 18.3 million of its shares by the end of 2019. Since, Sandstorm has bought back some 4.7 million shares, officials said.

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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