Exploring Mining Podcast: News from (NYSE: GOLD) (TSX: ASR) (NYSE American: PLG) (TSX: MQR) (TSX: LN)
Point Roberts, WA and Delta, BC - October 29, 2019 (Investorideas.com Newswire) 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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Exploring #Mining #Podcast: News from (NYSE: GOLD) (TSX: ASR) (NYSE American: PLG) (TSX: MQR) (TSX: LN)
Barrick Gold Corporation (NYSE:GOLD) will continue its two-decade partnership with the government of Mali. The relationship began when the company, Randgold at the time, discovered and developed the Morila property. Barrick president and chief executive Mark Bristow affirmed the company's intention to invest further in Mali, with the development of "a new underground mine at Gounkoto, replenishing existing reserves through brownfields exploration, prospecting for another world-class discovery along the Mali/Senegal shear zone and undertaking mapping and research in the south of the country".
"Our operations are strong at both our oxide and sulfide plants, with year to date production of 290,127 ounces at consolidated AISC of $714 an ounce. This performance has resulted in significant free cash flow generation of $138 million and has led to a rapid reduction in our net debt to $110 million at the end of the quarter. Subsequent to the end of the quarter, net debt has been further reduced to below $90 million."
Platinum Group Metals Ltd. (NYSE American:PLG) has reported significant advancement of the large Waterberg Palladium Project coinciding with increases in the prices and interest in palladium. Located on the Northern Limb of the Bushveld Igneous Complex in South Africa, Waterberg reserves "are 19.5 million ounces proven and probable of palladium, platinum, gold and rhodium (187 million tonnes at 3.24 g/t 4E, at 63% palladium, 29% platinum, 6.4% gold and 1.5% rhodium)", according to the press release.
Monarch Gold Corporation (TSX:MQR) has appointed Laurie Gaborit as a director of the Corporation. According to the press release, Gaborit has over 20 years of investor relations and corporate communications experience in the mining industry, and recently held the position of Vice President, Investor Relations, at Detour Gold Corporation. Michel Bouchard, Chairman of Monarch's board of directors, commented:
"I would like to welcome Ms. Gaborit to Monarch's board of directors on the board's behalf. We are proud and delighted to have someone of her calibre, with strong mining industry experience in investor relations and corporate governance. In addition to her skills, her in-depth knowledge of the financial markets will be of great value to the board as Monarch pursues the development of its gold projects in Quebec."
Loncor Resources Inc. (TSX:LN) has appointed Peter Cowley as President of the Company and Minecon Resources and Services Limited as geological consultants. Cowley is a geologist with over 40 years' experience in the minerals industry and a history of major exploration successes in Africa. He commented:
"Loncor has a major footprint in the Ngayu greenstone belt in northeastern DRC which has many geological similarities to the Geita and Moto belts which host world class operating gold mines in Tanzania and DRC, respectively, both in terms of size and profitability. Besides the Barrick Joint Venture where the Company has a free carried interest to the pre-feasibility study stage, Loncor has significant gold resources at its KGL-Somituri and Makapela properties where there is significant potential to increase this resource base. I am excited about the opportunity to join up again with Daniel Bansah and his team at MINECON who worked with me previously at Geita and Twangiza/Namoya, to unlock the full potential of the underexplored Ngayu greenstone belt of northeastern DRC."
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