#ExploringMining #Podcast Episode 114 – #Mining #Stock News from (NYSE: $NEM) (NYSE: $AEM) (NYSE: $AGI) (CSE: $FMAN.C)
Point Roberts WA, Delta BC, October 29, 2020 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 Corporation (NYSE:NEM) has announced its third quarter 2020 results. Some highlights include the production of 1.5 million attributable ounces of gold and the generation of $1.6 billion of cash from continuing operations. The company’s President and CEO, Tom Palmer, commented:
"Capitalizing on the strength of our portfolio and higher gold prices, we delivered record third quarter adjusted EBITDA of $1.7 billion and free cash flow of $1.3 billion. This was the best quarterly financial performance in Newmont’s history. We also remain focused above all else on protecting the health, safety and wellbeing of our workforce and neighboring communities as the pandemic continuesAs demonstrated by our second dividend increase this year, with a 79 percent increase in January and a further 60 percent increase in October, I am confident that our world-class portfolio is best positioned to generate industry-leading value and returns for our shareholders."
Agnico Eagle Mines Limited (NYSE:AEM) has reported its third quarter 2020 results, which include a net income of $222.7 million ($.0.92 per share), as well as payable gold production of 492,693 ounces. Sean Boyd, the company’s CEO, said:
“Many of our operations set monthly or quarterly production records, which is a testament to the hard work of our employees and the continued support of our local communities in these difficult times. This solid operational performance, coupled with a record realized gold price, resulted in strong quarterly free cash flow generation. With similar production levels expected in the fourth quarter of 2020, we remain confident in our business and its ability to generate significant free cash flow on a go-forward basis.”
Alamos Gold Inc. (NYSE:AGI) has reported its financial results for the quarter ended September 30, 2020. In the quarter, the company produced 117,100 ounces of gold – representing a 49 percent increase over the second quarter of 2020 – and generated record cash flow from operating activities of $130.8 million – an increase of 62 percent over the third quarter of 2019. The company’s President and CEO, John A. McCluskey, commented:
“We had an excellent third quarter financially and operationally with strong performances at all three operations driving costs significantly lower. This included another record quarter at Island Gold, and Young-Davidson starting to demonstrate its full potential following the completion of the lower mine expansion. We previously outlined our expectation to transition to strong free cash flow generation in the second half of 2020, and we delivered with record free cash flow of $76 million in the quarter.”
Freeman Gold Corp. (CSE:FMAN) has provided an exploration update for its 100 percent-owned Lemhi Gold Project, in Idaho. This includes the confirmation of the presence of extensive gold mineralized horizons and to date the completion of 16 cored drill holes totaling 3,328 metres. Freeman Gold’s President and CEO, Will Randall, said:
"Our Phase 1 drill campaign is successfully underway and is confirming our understanding of the mineralization and geology of the Lemhi Gold Project. The mineralization is generally flat lying within Proterozoic metasediments. Quartz veining, silicification, brecciation and faulting dominate the mineralized zones and are oxidized from surface. Results have so far matched historical logs closely. Multiple flat lying, high grade zones, often containing visible gold, are stacked and may constitute a bulk tonnage target."
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