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Goldcorp Reports Work Stoppage At Cerro Negro Mine

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Goldcorp Inc. (TSX: G, NYSE: GG) reports a work stoppage by union workers at the Cerro Negro mine in Argentina. Mining halted when the stoppage began late Friday, and processing has now been discontinued with the exhaustion of surface stockpiles, Goldcorp says. “Mining and processing could be safely restarted immediately following the return of the workforce,” Goldcorp continues. The company says it is working along with the union and the governmental authorities to find a resolution and restart the operation.

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

 

Newmont: Shareholder Vote On Goldcorp Merger Set For April 11

Tuesday March 12, 2019 08:56

Newmont Mining Corp. (NYSE: NEM) has set April 11 as the date for a special shareholder meeting to vote on the planned merger with Goldcorp Inc. (TSX: G, NYSE: GG) the company reports. More specifically, shareholders will be asked to vote on the issuance of Newmont shares in connection with the proposed transaction. This comes after Goldcorp last week set April 4 as the date for its shareholder meeting and vote on the merger. The boards of directors of both companies have unanimously recommended shareholder approval. The mostly all-stock transaction would create the largest gold-mining company in the world, to be named Newmont Goldcorp. “Combining with Goldcorp represents a compelling value creation opportunity for Newmont’s shareholders, providing them with an unmatched portfolio of world-class operations, projects, exploration opportunities, reserves and talent,” says Gary Goldberg, chief executive officer of Newmont. Newmont is considering the transaction at the same time it has agreed to a joint venture with Barrick Gold Corp. for the two companies’ assets in Nevada. Between the merger and joint venture, Newmont says synergies will total $9.1 billion.

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

 

Seabridge Reports Increased Gold, Copper Reserves At Iron Cap

Tuesday March 12, 2019 08:56

Seabridge Gold Inc. (TSX: SEA; NYSE: SA) reports increased estimates for mineral resources at its Iron Cap deposit, which is one of four large gold/copper porphyry deposits in the KSM project in British Columbia. The company says indicated resources increase by 0.46 million ounces of gold and 177 million pounds of copper, while inferred resources increase by 7.45 million ounces of gold and 4 billion pounds of copper. The deposit also has silver and molybdenum resources. Rudi Fronk, chairman and chief executive officer, says the new resource estimate reached a size and grade likely to warrant moving the Iron Cap deposit ahead of the Kerr and Sulphurets deposits in the mine plan. “Our exploration success at Iron Cap over the past two years gives us greater flexibility to optimize project economics,” the CEO says. “Iron Cap is closer to infrastructure than Kerr and Sulphurets, and its development could be faster and less costly. Within the 1.9 billion tonnes of inferred resource, there exist significantly higher grade underground cave opportunities with substantial tonnage.”

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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