#ExploringMining #Podcast 257 - News from (NYSE: $NEM) (NYSE: $AGI) (NYSE: $OR) (NYSE: $MTAL) (NYSEAmerican: $ASM)
Vancouver, Kelowna, Delta, BC, March 17, 2022 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 that the Coffee Gold Project will be allowed to proceed, following approval from the governments of Canada and its Yukon territory. The Coffee Gold Project is a proposed open-pit and heap leach gold mine, according to the press release, and is “estimated to provide nearly 700 jobs for Yukoners.” Mark Rodgers, Regional Senior Vice President, Newmont North America, said:
“Newmont is pleased that the Federal and Territorial Governments and our First Nations partners recognize the significant benefits of the Coffee Gold Project and Newmont’s commitment to delivering our purpose to create value through sustainable and responsible mining. The decision to approve the Coffee Gold Project provides much-needed certainty about the future of the project and the development of this strategic asset. We look forward to continued engagement with Government and Yukon First Nations."
Alamos Gold Inc. (NYSE:AGI) has achieved a significant milestone with the filing of the Closure Plan Amendment for the Island Gold Mine by the government of the Canadian province Ontario. This, according to the press release, allows “for ramp up of construction activities on the Phase III expansion,” which in turn “is expected to drive production approximately 70% higher to average 236,000 ounces of gold per year.”
Osisko Bermuda Limited, a wholly-owned subsidiary of Osisko Gold Royalties Ltd (NYSE:OR), has entered into a binding agreement with Metals Acquisition Corp. (NYSE:MTAL) for a $90 million USD silver stream “to facilitate [the latter’s] acquisition of the producing CSA mine in New South Wales, Australia.” Sandeep Singh, President and CEO of Osisko, said:
“We are excited to partner with MAC on the acquisition of the CSA mine. The acquisition of a silver stream on CSA meets all of Osisko’s stringent acquisition criteria. The stream will provide long-life precious metals cash flow in a top tier jurisdiction at an attractive return. CSA has a long mine life and a tremendous history of reserve replacement with significant further upside. Near-term opportunities to extend the already-long mine life and optimize production have already been identified.”
Avino Silver & Gold Mines Ltd. (NYSEAmerican:ASM) has released its consolidated financial results for the fourth quarter and year end 2021. Highlights include Q4 revenues of $9.3 million – the company’s highest recorded since Q4 2019, and revenues of $11.2 million for the year. David Wolfin, the company’s President and CEO, said:
"2021 was highlighted by many positive achievements for Avino, with our fourth quarter results showcasing the progress made in the restart of operations with meaningful earnings and free cash flow generation. It was a pivotal year in many respects as we restarted mining operations after an extended closure period, repaid our $10 million term facility to Samsung C&T UK, and announced the proposed acquisition of La Preciosa. Revenues, earnings and cash flow generation all increased considerably compared to all preceding quarters in 2021 and 2020, with cash costs and AISC costs showcasing these strong margins. We look forward to further encouraging production numbers and exploration drill results as we move through 2022."
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