Point Roberts, WA and Delta, BC – May 14, 2020 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. Listen to the podcast: https://www.investorideas.com/Audio/Podcasts/2020/051420-Mining.mp3 Exploring Mining Podcast: …
Point Roberts, WA and Delta, BC – May 14, 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.
Listen to the podcast:
Exploring Mining Podcast: News from (NYSE: NEM) (NYSE: AGI) (NYSE: AG) (CSE: ORGN)
Newmont Corporation (NYSE:NEM) will begin to safely ramp up operations at Penasquito in Mexico on May 18 after mining was designated as an essential activity by the Mexican government. Newmont President and CEO Tom Palmer explained:
“With the government of Mexico incorporating mining into the list of essential businesses that will be allowed to recommence activities on May 18th, we are preparing Penasquito and our workforce for a safe, orderly and timely resumption of production. As we’ve been doing at all of our operations and sites around the globe, we will maintain rigorous health and safety controls to prevent the transmission of COVID-19 to our workforce and neighboring communities.”
“As with Island Gold, operations at Mulatos will be ramped up in a safe manner. To date, we have not had any confirmed cases of COVID-19 among any of our employees or contractors. We continue to follow strict protocols across our operations with our foremost priority being to protect the health and safety of our employees, their families, and our local communities.”
First Majestic Silver Corp. (NYSE:AG) has reported its financial results for the first quarter 2020. Highlights include revenues of $86.1 million, which is one percent lower than Q1 2019 and is attributed to the company’s “suspending sales in March in an attempt to maximize future profits due to metals market volatility”. The company also reports mine operating earnings of $21.1 million, which is up 106 percent from to Q1 2019. Keith Neumeyer, President and CEO of First Majestic, commented:
“As the COVID-19 pandemic sparked higher than normal volatility in the metals market near the end of the quarter, we temporarily suspended our silver and gold sales as paper prices dropped significantly below true physical prices. These inventoried ounces have been carried over into the second quarter and will be sold as prices improve. Nevertheless, strong production from each of our three mines generated operating earnings of $21.1 million, representing a 106% increase over the same quarter of 2019.”
Origen Resources Inc. (CSE:ORGN) has entered into a Letter of Intent (LOI) to “acquire a 100% interest in the 26,771 hectare (ha) LGM property and the 3,971 ha Wishbone property located in British Columbia’s renowned Golden Triangle from Orogenic Regional Exploration Ltd.” According to the press release, the properties “host significant mineralized gold and copper enriched gossans and sulphide occurrences.” Origen CEO Gary Schellenberg said:
“The LGM and Wishbone properties give Origen a launch pad for discovery in BC’s mineral rich Golden Triangle. The availability of such a large, well endowed, land package was a unique opportunity and the Origen team is excited to get to work unlocking the potential of this flagship asset.”
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