Millennium Precious Metals published the first drill results from its Wildcat property that returned good grades, with mineralization confirming strong continuity, no overburden, and rock competency.The appetite for acquisitions to gain significant market presence appears to be back on the menu. RBC anticipates incremental addition of larger-cap names back into the GDXJ ETF in part driven by 1) greater investor interest in larger, more liquid names and 2) continued industry consolidation, particularly within the Intermediate space.The miss was driven by timing of sales and higher processing costs, somewhat offset by lower taxes and depreciation along with a higher realized gold price. Adjusted EPS was $0.05 versus consensus of $0.07 operating cash flow was $0.06 per share versus consensus of $0.11 per share. Steppe Gold reported its second quarter financials after pre-reporting production of 10,300 ounces last month.In a quarter that saw consumable costs spike for many industry peers, Orla was able to reassuringly maintain its 2022 cost and production guidance. Orla Mining reported strong second quarter numbers, with record production and lower-than-expected costs.The precious metal has gained amid cooling inflation in the U.S., which backs the case for the Fed to be less aggressive in raising borrowing costs. Bullion fell as much as 1.1% on Monday, after the longest run of weekly gains in almost a year, as it came under pressure from the stronger dollar. Gold fell this week, following four straight weeks of gains, as investors assessed signs that China's economy is struggling to recover ahead of minutes from the Federal Reserve later in the week. The worst performing precious metal for the week was silver, down 8.47%, moving with the drop in gold.Chawrun was most recently COO of Teranga Gold, and Credit Suisse views his technical expertise as positive for advancing Centerra's Goldfield project. Centerra Gold announced the appointment of Paul Chawrun as its new COO, effective September 6. ![]() Importantly, the strengthening balance sheet ($82 million cash at quarter-end, with no debt), ideally positions K92 to invest in its planned growth. K92 Mining reported second quarter 2022 earnings with AISC of $893 per ounce, 26% below consensus of $1,207 per ounce, once again, showcasing the increasing economies of scale, which may continue in the future. ![]() Financials also beat with adjusted earnings per share (EPS) of $0.02 versus consensus of ($0.01) operating cash flow was $0.04, above consensus of $0.01. Production came in higher than expected at 459,000 ounces to consensus of 389,000 ounces, due to higher head grade from mine development work completed in the first quarter and additional equipment onsite. Aya Gold & Silver released its first quarter production and financials this week.
0 Comments
Leave a Reply. |