Resolute Mining sells Bibiani to Chinese group
Australia’s Resolute Mining (LSE: RSG; ASX: RSG) has agreed to sell its Bibiani gold mine in Ghana to China’s Chifeng Jilong Gold Mining for US$105 million in cash. The Western Australia-based…
Financial Matters, M&A
Northern Star, Saracen create US$11.5B Australian gold giant
Australia’s Northern Star Resources (ASX: NST) is buying smaller peer Saracen Mineral Holdings (ASX: SAR) in a deal that will create an A$16 billion (US$11.5 billion) gold giant, the world’s…
Kinross to acquire 70% of Peak Gold project in Alaska for US$94M
Kinross Gold (TSX: K; NYSE: KGC) says it plans to strengthen its medium-term production and cash flow profile with the US$93.7 million acquisition of the Peak Gold project in Alaska,…
Shandong Gold calls on Canadian gov’t to approve TMAC purchase
Shandong Gold Mining, one of China’s top bullion miners, said its acquisition of a Canadian junior that owns the massive Hope Bay property in Nunavut should be approved for economic…
Endeavour Mining eyes dual listing after Semafo acquisition
Endeavour Mining (TSX: EDV), a Toronto-listed gold mining company with assets in West Africa, is assessing whether to dual list on either the London or New York exchanges as it looks…
Hudbay posts US$51.9M loss on Constancia suspension
Canadian miner Hudbay Minerals (TSX: HBM, NYSE: HBM) posted a US$51.9 million loss in the second quarter, as an eight-week suspension of its Constancia copper mine in Peru weighed on results….
Horizonte plans $325M financing to develop Araguaia nickel project in Brazil
Horizonte Minerals (TSX: HZM) announced that it is arranging a senior secured project finance facility of up to US$325 million to fund the construction and development of its flagship Araguaia…
Wesdome meets production guidance in Q2
Wesdome Gold Mines’ (TSX: WDO) Eagle River complex in Ontario churned out 25,142 oz. gold in the second quarter at all-in sustaining costs (AISCs) of US$879 per ounce. According to…
U.S. Gold adds Idaho project to portfolio
U.S. Gold (NASDAQ: USAU) is adding a new exploration project to its portfolio through its acquisition of Northern Panther Resource Corporation, which holds the Challis gold project in Idaho. U.S. Gold is…
Kirkland Lake beats earnings estimates; reissues 2020 production guidance
Kirkland Lake Gold (TSX, NYSE: KL; ASX: KLA) on July 30 reported strong financial and operating results for the second quarter of 2020, despite disruptions caused by Covid-19. Adjusted net…
Centerra raises dividend after profits double
Centerra Gold (TSX: CG) announced that the company recorded net income of US$80.7 million, or 27¢ per share, for the second quarter of 2020, more than double the US$33.4 million,…
Newmont tops profit estimates on higher gold prices
Newmont (NYSE: NEM, TSX: NGT) said on July 29 that higher gold prices helped generate significant free cash flow in the second quarter of 2020. The world’s largest gold miner’s…