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Barrick: Greg Walker To Head Nevada Joint Venture

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Greg Walker, currently head of North American operations for Barrick Gold Corp. (NYSE: GOLD; TSX: ABX), has been named executive managing director of Nevada Gold Mines, which is the name chosen for the Nevada joint venture between Barrick and Newmont Goldcorp, Barrick reports. Walker will head a team with a balanced combination of Barrick and Newmont Goldcorp executives. Nevada Gold Mines, owned 61.5% by Barrick and 38.5% by Newmont Goldcorp, will be operated by Barrick. The operations making up the joint venture produced more than 4 million ounces of gold in 2018, more than double the next largest gold-mining complex, Barrick says. “Nevada Gold Mines will have three tier-one gold mines: Barrick’s Cortez; the combination of Barrick’s Goldstrike and Newmont Goldcorp’s Carlin; and Barrick’s Turquoise Ridge with Newmont Goldcorp’s Twin Creeks,” says Mark Bristow, Barrick president and chief executive officer. “In addition, our Goldrush-Fourmile project has the potential to become the fourth.”

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

 

SSR Mining Reports Higher 1Q Adjusted Profit

Friday May 10, 2019 08:25

SSR Mining Inc. (Nasdaq, TSX: SSRM) posted a higher first-quarter adjusted profit as gold-equivalent output was near a company record, officials say. Adjusted net income was $17.2 million, or 14 cents per share, up from $5.7 million, or 5 cents, in the same quarter of 2018. Net income was $5.7 million, or 5 cents, compared to a loss of $2.3 million, or a penny, during the year-ago period. Revenue increased 29% year-on-year to $126.3 million due to higher gold sales at both the Marigold mine and the Seabee Gold Operation, SSR says. The company produced a near-record 112,513 gold-equivalent ounces and doubled silver production at the Puna Operations to 2.4 million ounces. “Seabee achieved record production at near-record low cash costs, while Puna production and costs benefited from a full quarter of processing higher-grade Chinchillas ore and increasing by-product credits,” says Paul Benson, president and chief executive officer. “As a result, we delivered another quarter of solid financial performance and are well positioned to achieve record production for 2019." The company did not revise its previous production guidance. Based on the mid-points of guidance, SSR expects output of 395,000 gold-equivalent ounces in 2019.

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