Exploring Mining Podcast: News from (NYSE: AGI) (NYSE: EXK) (TSXV: MAI) (TSXV: HIGH)
Point Roberts, WA and Delta, BC - April 30, 2020 (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: AGI) (NYSE: EXK) (TSXV: MAI) (TSXV: HIGH)
Alamos Gold Inc. (NYSE:AGI) has reported its financial results for the quarter ended March 31, 2020. Highlights include gold production of 110,800 ounces, which was largely driven by the company's Island Gold and Mulatos properties, cash flow from operating activities of $56.6 million and the repurchase of 1,133,561 common shares at a cost of $5.5 million, or $4.90 per share. Alamos Gold President and CEO John A. McCluskey said:
"Despite the temporary challenges with COVID-19, Alamos remains well positioned for a strong second half of the year. We expect to start ramping up operations at Island Gold in a safe manner in early May and will do the same at Mulatos once the government suspension has been lifted. We are making solid progress on the Phase III expansion study at Island Gold and the lower mine expansion at Young-Davidson with both expected to be completed in the middle of this year. We expect both will be significant catalysts for the Company. Combined with a robust balance sheet and strong free cash flow growth starting in the second half of this year, the outlook for Alamos has never been stronger."
The Mexican government has decreed an extension of the suspension of all non-essential activities until May 30, 2020, but will cease to be applicable as of May 18, 2020 in municipalities that present low or no known cases or transmission of COVID-19. In a recent press release, Endeavor Silver Corp. (NYSE:EXK) announced that it now anticipates reopening its mines around May 18, 2020, pursuant to the government decree. The company's CEO Bradford Cooke said:
"We look forward to bringing our mines back to production in a safe and orderly manner. Naturally, we will continue to apply all aspects of our coronavirus plan to maintain the health of our people and the local communities."
Minera Alamos Inc. (TSXV:MAI) has reported additional drill results from its Phase 2 drill program at the Santana gold project, Sonora, Mexico. Highlights include Hole S19-132, which intersected 143.7 m of 0.50 g/t gold, and Hole S20-134, which intersected 247.9 m of 0.60 g/t gold ending in mineralization. Darren Koningen, CEO of Minera Alamos, explained:
"This initial phase of our ongoing drill activities at the Santana project was intended primarily to confirm the margins of the Nicho mineralization as we work to optimize open pit modelling for the pending start of mining operations. Rather than closing off the limits of the deposit in this area we have demonstrated significant potential for further expansion to the south and southwest."
HighGold Mining Inc. (TSXV:HIGH) has announced a mineral resource estimate for the Johnson Tract Deposit at the company's flagship Johnson Tract Gold property in coastal Southcentral Alaska. Highlights include an indicated resource of 2.14 million tonnes grading 10.93 grams per tonne gold equivalent for 750,000 ounces gold equivalent (AuEq), and a high-grade core of 1.25 million tonnes indicated grading 14.54 g/t AuEq for 583,000 ounces AuEq at an 8 g/t AuEq cutoff. HighGold President & CEO, Darwin Green, said:
"We are extremely pleased with the resource estimate which positions the JT Deposit among the highest-grade undeveloped gold projects in North America."
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