Exploring Mining Podcast Episode 180 - News from (NYSE: AA) (NYSE: SAND) (NYSE: VALE) (NYSE: FSM) (TSX: ROXG) (TSXV: MTU)
Point Roberts, WA and Delta, BC - June 29, 2021 (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 #180 - News from (NYSE: AA) (NYSE: SAND) (NYSE: VALE) (NYSE: FSM) (TSX: ROXG) (TSXV: MTU)
Alcoa Corporation (NYSE:AA) has completed the sale of a 2,100-acre property in Maryland, at the site of the former Eastalco smelter, for $100 million in cash. Specifically, the sale was between Alcoa subsidiary Eastalco Aluminum Company and a joint venture between Quantum Loophole and TPG Real Estate Partners (TREP). Mark Stiffler, Alcoa's VP for Asset Management, said:
"When Alcoa closed the Eastalco site, we made a commitment to bring this property back into productive and sustainable use. The sale to Quantum Loophole and TREP is a story of economic and environmental sustainability, taking a former industrial site through the remediation process and bringing it forward for a new industrial use."
Sandstorm Gold Ltd. (NYSE:SAND) has increased its portfolio of producing assets and immediate cash flow through the execution of a $30 million gold stream and royalty agreement with Vatukoula Gold Mines PTE Limited and the purchase of a royalty package on a portion of Vale S.A.'s (NYSE:VALE) operations at a net purchase price of $108 million. Sandstorm President and CEO Nolan Watson said:
"The addition of the VGML Stream and Vale Royalties has strengthened our immediate and long term cash flow projections and fortified our producing royalty portfolio. The Vale Royalties provide Sandstorm shareholders exposure to high-quality assets with reserve weighted mine lives of several decades, while the VGML Stream adds fixed gold deliveries with operational and exploration upside."
Shareholders of both Fortuna Silver Mines Inc. (NYSE:FSM) and Roxgold Inc. (TSX:ROXG) have voted to approve the proposed acquisition by the former of the latter. The arrangement is expected to close on July 2, 2021, after which Fortuna will continue under the name "Fortuna Silver Mines Inc." with the ticker symbol "FVI" on the Toronto Stock Exchange and "FSM" on the New York Stock Exchange, and Roxgold will be a wholly-owned subsidiary of Fortuna, and will be delisted from the Toronto Stock Exchange.
"We are seeing the culmination of four years of property acquisition, regional exploration and detailed targeting along the highly attractive Baltimore deformation zone. The 18,000 metres of drilling we will be commencing in early August is going to be targeting elephant sized gold targets in proven elephant gold deposit country. Our exploration team is doing a fantastic job in the field in order to refine individual drill targets."
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