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Exploring Mining Podcast: News from (NYSE: NEM) (NYSE: BVN) (NYSE: SA) (CSE: RLG)

 

Point Roberts, WA and Delta, BC - May 19, 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: NEM) (NYSE: BVN) (NYSE: SA) (CSE: RLG)

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Newmont Corporation (NYSE:NEM) announced plans to ramp up operations at Penasquito, Cerro Negro, Eleonore and Yanacocha properties. Expecting low second quarter production with high costs, the company revealed an outlook of "approximately 6.0 million ounces of attributable gold production," for the year. Tom Palmer, President and CEO, said:

"We are pleased to be ramping up operations at our four sites previously placed in care and maintenance and we remain committed to protecting our workforce and neighboring communities. We continue to respond to this pandemic from a position of strength and Newmont's diverse portfolio in top-tier jurisdictions provides a long-term, stable production profile with the potential to generate significant free cash flow over time."

Compania de Minas Buenaventura (NYSE:BVN) has revealed results for the first quarter 2020. The press release stresses that "results were adversely impacted by the State of Emergency and related mandated lockdown instituted by the Peruvian Government in order to contain the spread of the Coronavirus (COVID-19)," and that "Due to the outbreak of COVID-19 in Peru and the related restrictions imposed, Buenaventura was unable to produce for 17% of the first quarter 2020." Some highlights include: Negative $6.8 million in EBITDA (earnings before interest, taxes, depreciation and amortization), as compared to $28.4 million in Q1 of 2019, but a cash position of $222 million, an increase over the $210 million in Q4 of 2019 despite production being hindered.

Seabridge Gold Inc. (NYSE:SA) will proceed with drilling this summer at its Iskut project in British Columbia's Golden Triangle to test for a gold-copper porphyry similar to those it discovered at its nearby KSM project. Seabridge Chairman and CEO Rudi Fronk commented:

"We acquired Iskut because we saw clear evidence of a large porphyry system which looked to be similar in age and geology to our KSM project 30 kilometers to the east. We are now working with the Tahltan Nation, B.C. Regulators, our suppliers, and consulting with competitors to advance our target this season in a manner that will ensure safe operations during the COVID-19 pandemic."

West Red Lake Gold Mines Inc. (CSE:RLG) plans to initiate a 3,000 metre exploration drill program on the NT Zone during mid June to follow up on the positive results announced on January 15, 2020. Company President, John Kontak, said:

"The upcoming exploration drilling at the gold-bearing NT Zone provides a good opportunity for the expansion of the gold mineralization on the property. We are looking forward to exploration drilling in 2020 on this attractive gold property."

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