Friday, 29 April 2016

Mountain Province Diamonds - MPV.t

Mountain Province Diamonds - MPV.t is a Canadian diamond exploration and development company headquartered in Toronto, Ontario.

In joint venture with De Beers, Mountain Province is developing the world's largest and richest new diamond mine—the Gahcho Kué Project, located in Canada's Northwest Territories.





On March 14, 2016 the company released News
Mountain Province Updates Gahcho Kué Diamond Mine Development
 Overall project more than 87 percent complete
 On plan for first production in H2 2016
 Appointment of Mine General Manager
Toronto and New York, March 14, 2016 – Mountain Province Diamonds Inc. (“Mountain
Province”, the “Company”) (TSX: MPV, NASDAQ: MDM) is pleased to announce that
development of the Gahcho Kué diamond mine is progressing according to plan with the overall
project more than 87 percent complete and on track for first production during H2 2016.
Patrick Evans, Mountain Province President and CEO, commented: “We continue to make
excellent progress at Gahcho Kué. Key areas of focus are remaining earthworks,
commissioning of the primary crusher and diamond plant, pre-stripping and stockpiling of
kimberlite as well as preparations for operational readiness.”

Mountain Province is also pleased to announce that the Gahcho Kue Joint Venture has
appointed Allan Rodel as the mine general manager. Mr. Rodel joined the De Beers Group in
1997 and has held a number of senior management positions, including that of Gahcho Kue
project manager since 2013. Mr. Rodel has an honors degree in chemical engineering from the
University of Natal and resides in Yellowknife, N.T.

In addition to Mr. Rodel, nine senior operational appointments have been made at Gahcho Kue,
including the mining manager, engineering and maintenance manager, ore processing manager
and technical services manager. Under the leadership of Mr. Rodel and the operations
management team, commissioning of the Gahcho Kue mine is well underway.
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http://canadastockjournal.blogspot.com/2016/04/mountain-province-diamonds-mpvt.html

Thursday, 28 April 2016

Hudbay Minerals - HBM.t

Hudbay Minerals- HBM.t is a Canadian integrated mining company with operations, development properties and exploration activities across the Americas. The company has operations in Manitoba and Peru.




On April 28, 2016 the company released News

" HudBay Minerals Inc. ("Hudbay" or the "company") (TSX: HBM) (NYSE: HBM) today released its first quarter 2016 financial results. All amounts are in US dollars, unless otherwise noted.
Summary:
  • Over 150% growth in copper production compared to the first quarter of 2015
  • Continued ongoing cost reduction efforts and economies of scale resulting in consolidated cash cost, net of by-product credits, of $1.15 per pound and all-in sustaining cash cost, net of by-product credits, of $1.80 per pound1
  • Operating cash flow before changes in non-cash working capital increased to $71.9 million, or $0.31 per share, from $16.9 million, or $0.07 per share, in the first quarter of 20151
  • Planned replacement of trunnions on one of the two Constancia grinding circuits completed ahead of schedule during March 2016 and both circuits now operating at full capacity
The net loss and loss per share in the first quarter of 2016 were $15.8 million and $0.07, respectively, compared to a net loss and loss per share of $19.8 million and $0.08, respectively, in the first quarter of 2015. The current period's loss reflects $23.0 million in interest expense that is no longer capitalized following the achievement of commercial production at Constancia on April 30, 2015.
"Since achieving commercial production last year, Constancia's operating performance, coupled with our stable Manitoba operations, have enabled us to generate increasing cash flows, despite the sharp declines in metals prices," said Alan Hair, president and chief executive officer. "Based on our operating and cost performance to date, we are on track to meet the cost reduction targets of over $100 million we announced last quarter, as well as our production, operating and capital cost guidance."
Notwithstanding lower metals prices, revenues nearly doubled in the first quarter of 2016 to $253.6 million$124.9 million higher than the same period in 2015. This increase was primarily due to higher sales volumes compared to the first quarter of 2015 as a result of commercial production being achieved at Constancia. Higher sales volumes were partially offset by lower prices for copper and zinc.
As a result of the ramp-up of production at Constancia and ongoing cost reduction initiatives, consolidated cash cost, net of by-product credits, declined to$1.15 per pound in the first quarter of 2016 from $1.44 per pound in the first quarter of 2015. Similarly, incorporating sustaining capital, royalties and corporate general and administrative ("G&A") costs, consolidated all-in sustaining cash cost, net of by-product credits, declined to $1.80 per pound in the first quarter of 2016 from $2.67 per pound in the first quarter of 2015.
In the first quarter of 2016, operating cash flow before change in non-cash working capital increased to $71.9 million from $16.9 million in the first quarter of 2015. The increase in sales volumes and associated economies of scale more than offset the sharp decline in realized sales prices of copper and zinc metals compared to the same quarter last year.
The cost reduction initiatives announced on February 24, 2016 are on track to meet Hudbay's targets for 2016. Based on these efforts and operating results to date, the company expects to meet all of its production, operating and capital cost guidance.
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http://canadastockjournal.blogspot.com/2016/04/hudbay-minerals-hbmt.html

Wednesday, 27 April 2016

OceanaGold Corporation - OGC.t

OceanaGold Corporation - OGC.t operates 3 mines in New Zealand – Macraes Open Pit, Frasers Underground and the Reefton Open Pit. In the northern Philippines, the company operates the high grade gold-copper Didipio Project.

The first copper concentrate was produced at Didipio in December 2012 and commercial production was declared as of April 1, 2013.

On April 7, 2016 the company released News

"OceanaGold Corporation (TSX/ASX/NZX: OGC) (the “Company”) is pleased to announce that it has entered into an agreement (the “Agreement”) to make a strategic investment in NuLegacy Gold Corporation (“NuLegacy”) (TSXV: NUG), and, by way of a private placement, purchasing 47.66 million common shares of NuLegacy at a price of C$0.14 per share for gross proceeds of C$6.67 million.

Upon completion of the transaction, which is expected to close on or about April 13, 2016, the Company will own approximately 19.9% of NuLegacy’s issued and outstanding shares on an undiluted basis, prior to giving effect to any shares purchased by Barrick Gold Corporation (“Barrick”) and/or Waterton Precious Metals Fund II Cayman, LP (“Waterton”) pursuant to their existing equity participation rights to maintain their current equity ownership interests in NuLegacy. The Company also has the option to purchase up to an additional 9,303,845 common shares of NuLegacy, subject to Barrick and/or Waterton, LP exercising their participation rights.
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http://canadastockjournal.blogspot.com/2014/08/oceanagold-corporation-ogct.html