Exploring #Mining #Podcast – News from (NYSE: $NEM) (NYSE: $AA) (NYSE: $TREC) (TSX: $ARG.TO) (TSXV: $ECR.V)
Point Roberts WA, Delta BC, October 3, 2019 Investorideas.com, a global investor news source covering mining and metals stocks releases today’s edition of Exploring Mining Podcast, featuring stock news from TSX, TSXV ,CSE, ASX, NASDAQ, NYSE companies plus interviews with CEO's and leading experts.
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Newmont Goldcorp Corporation (NYSE:NEM) has announced that the Borden mine near Chapleau, Ontario has achieved commercial production. According to the press release, the Borden mine boasts state-of-the-art health and safety controls, digital mining technologies and processes, and low-carbon energy vehicles. The 1,000 square kilometre Borden land package affords exploration potential, as well. Tom Palmer, President and CEO of Newmont, commented:
“Consistent project delivery and disciplined operational execution remain cornerstones of our business and are central to creating long-term shareholder value. Borden joins the next generation of Newmont Goldcorp mines and leverages our leading land position to anchor this new gold district in Ontario.”
Alcoa Corporation (NYSE:AA) has received certification from the Aluminium Stewardship Initiative (ASI) for its Baie-Comeau aluminum smelter in Québec, Canada. The company is now recognized in three countries (Brazil, Canada and Spain) by the ASI for its leadership in sustainability. Michelle O’Neill, Alcoa’s Senior Vice President of Government Affairs and Sustainability, said:
“From mine to metal, Alcoa is recognized as a sustainability leader. This latest ASI certification demonstrates our ongoing commitment to operate in a responsible manner while bringing long-lasting value to our stakeholders.”
Trecora Resources (NYSE:TREC) has entered into a definitive share sale and purchase agreement with shareholders of Saudi Arabian closed joint stock company, Al Masane Al Kobra Mining Company, in which the latter will acquire Trecora's entire equity interest in AMAK. Under the terms of the Agreement, Trecora will sell its 33.3% equity interests in AMAK for $70 million. Trecora expects to receive net proceeds of approximately $60 million in cash, net of both US and Saudi taxes, as well as transaction expenses. Pat Quarles, Trecora's President and CEO, said:
"We are pleased to achieve this important strategic milestone and fulfill our longstanding commitment to deliver significant shareholder value, through the sale of our AMAK ownership. AMAK has been a meaningful but non-core asset for many years. Over the past two years, AMAK has accomplished significant operational restructuring and upgrades thus greatly enhancing its value, and allowing for a transaction that we believe achieves a good outcome for all shareholders.”
Minera Valle Central (MVC), a wholly owned Chilean subsidiary of Amerigo Resources Ltd. (TSX:ARG.TO), has completed a refinance of its debt facilities. According to the press release, “MVC obtained debt facilities of US$99.7 million in 2015 and 2017 to finance the Cauquenes expansion, with an original term to December 31, 2021. At the time of refinance, the facilities had an outstanding principal of US$56.25 million”. Rob Henderson, Amerigo's President and CEO, explained:
“This refinance of debt facilities provides MVC with additional flexibility and substantially reduces liquidity exposure for the Company. I would like to take this opportunity to thank Scotiabank Chile and Export Development Canada for their ongoing strategic support to MVC and its operations.”
Cartier Resources, Inc. (TSXV:ECR) has entered into an agreement with Desjardins Securities Inc., under which the latter has agreed to sell, on a marketed private placement basis, 11,428,571 flow-through common shares of the company at a price of $0.21 CAD per Initial Tranche A Flow-Through Share, and a further 1,940,667 flow-through common shares which the company understands may be donated by the initial purchasers to charity of the company at a price of $0.28 CAD per Initial Tranche B Flow-Through Share for total gross proceeds of $2,943,387 CAD.
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