Top-News of the Week:
Sibanye Gold issues rights offers! – That’s why you should take advantage of this offer!
A few days ago, Sibanye Gold announced, that the company will do a financing for the acquisition of Stillwater Mining. One part of this financing will be made via the issuance of new company shares. Therefore, Sibanye is planning to issue shares, worth around one billion US$. As a Sibanye shareholder, you can take part of this financing, unless you are a shareholder on Friday, the 26 th of May.
Sibanye Gold will send you rights offers for purchasing new company shares within the next couple of days. These will be booked into your brokerage account. As a shareholder, you will get 9 rights offers for every 7 of your shares. With these 9 rights offers you will have the opportunity, to purchase 9 new Sibanye shares, which will be offered for a massive discount to the current share price. Therewith, you will also have the chance to reduce your average purchase course significantly. You have to know, that there will be no negative consequences for your investment.
By reason of the issuance of new company shares, there will be a dilution of Sibanye Gold’s share structure. Thereby, the share price will fall of around 35%.
The rights offers for the new shares will be tradeable at a discount of about 60%. This means, that shareholders will be able to buy new Sibanye shares with a significant discount. A great offer for all shareholders!
Therefore, shareholders should use their rights offers, to increase their investment in Sibanye Gold und thereby significantly decrease their average purchase price. It is a lucrative offer, to buy new Sibanye shares at this discount.
Important: Shareholders should inform their broker until June, the 5 th, 2017 if they want to use their rights offers or not. If shareholders will not react, they will lose their right offers and therefore have some negative consequences in cause of the following share dilution.
Shareholders do not have to use their rights offers, to increase their Sibanye Gold position. If shareholders do not want to use them, they can simply sell them.
News:
Final terms of a fully underwritten renounceable rights offer of approximately U.S.$1 billion (the "Rights Offer")
Market Watch:
Uranium Energy: First investors have already increased their positions!
According to tickerreport.com, there were a couple of big investors, which significantly increased their positions in Uranium Energy in the first Quarter of 2017.
- Sprott Inc. purchased 207,886 shares of the basic materials company’s stock.
- Bank of New York Mellon Corp increased its stake in Uranium Energy Corp. by 4.6% in the first quarter. Bank of New York Mellon Corp now owns 123,344 shares.
- Commerzbank Aktiengesellschaft FI increased its stake in Uranium Energy Corp. by 137.3% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 712,686 shares.
- Finally, JPMorgan Chase & Co. increased its stake in Uranium Energy Corp. by 0.7% in the third quarter. JPMorgan Chase & Co. now owns 3,555,012 shares of the basic materials company’s stock.
Company News:
Ascendant Resources increases production
A couple of days ago, Ascendant Resources announced that the Company’s El Mochito mine in Honduras hoisted 52,912 tons of ore in the month of April. Over the 27 operating days in the month, this represents an average 1,960 tons per day, an improvement as compared with 1,733 tons per day in March. In an April 18th press release, the Company provided guidance for Q2/17 of 160,950 tons of ore (a daily average of 1,850 tons per day over 87 operating days).
Therewith, Ascendant Resource is on the best way to achieve its own goal of a sustainable production rate of 2,200 tons per day.
News: Ascendant Resources Mines 1,960 Tonnes Per Day in April & Ratifies New Collective Bargaining Agreement
Video: Newsflash #61 With Ascendant Resources, Altona Mining & Osisko Gold Royalties A short time ago, Altona Mining has been advised by China Sichuan International Investment Limited (“CSII”) that its application to the Australian Foreign Investment Review Board (“FIRB”) to permit CSII to invest in the Cloncurry Project in northwest Queensland has been approved. FIRB approval is a major Condition Precedent to closing the transaction.
All approvals must be received and other Conditions Precedent satisfied prior to execution of a Subscription Deed. Unless agreed otherwise by the parties, the last date for execution of the Subscription Deed is 30 June 2017 and the last date for closing of the transaction is 31 July 2017.
News: FIRB Approve Cloncurry Project Transaction
Video: Newsflash #61 With Ascendant Resources, Altona Mining & Osisko Gold Royalties The first quarter of 2017 showed for Caledonia Mining an 18 per cent increase in production from the corresponding quarter in 2016. As the Blanket Mine has demonstrated in the past, increased production results in lower unit costs as the fixed cost component is spread across more production ounces. On-mine costs were four per cent lower than the comparable quarter of 2016 at US$659 per ounce and all in sustaining costs were 10 per cent lower at US$857 per ounce.
Higher gold production at a lower unit cost and a four per cent increase in the average realized gold price to US$1,213 per ounce all contributed to increased adjusted earnings per share of 5.3 US cents for the quarter, an increase of 96 per cent on the corresponding quarter of 2016.
Caledonia Mining Corporation Plc - Results for the First Quarter of 2017
Video: Newsflash #62: Quarterly Figures Of Caledonia Mining, Sierra Metals & Osisko Gold Royalties A couple of days ago, GoldMining Inc announce that it has entered into an agreement to acquire 100% of the Yellowknife Gold Project and nearby Big Sky Property, both located in the Northwest Territories, Canada and indirectly owned by Tyhee N.W.T. Corp., a subsidiary of Tyhee Gold Corp.
The YGP has been the subject of substantial drilling, underground development and historic gold production. Big Sky represents an earlier stage exploration property package located south of the YGP and only 17 km north of the city of Yellowknife.
Pursuant to the Agreement, GoldMining will acquire the YGP, Big Sky and certain related assets, including an exploration camp and equipment. Total consideration payable by GoldMining under the transaction consists of 4,000,000 common shares of GoldMining, which will be subject to customary escrow provisions and released as follows:
- 1,574,000 Shares on the four-month anniversary of closing;
- 1,180,000 Shares on the six-month anniversary of closing; and
- the balance on the eight-month anniversary of closing.
The YGP is comprised of five deposits — Nicholas, Ormsby, Bruce, Goodwin and Clan Lake — located 50 to 90 km north of the city of Yellowknife in the Northwest Territories. The Project includes a 50-person winterized camp and fuel storage and is accessible by winter road from Yellowknife or by air to a 1,000-m long gravel airstrip located on site.
The Project is comprised of 17 mining leases and 8 mineral claims with an aggregate area of 8,935 ha. The YGP is subject to a 2.25% net smelter return royalty, including a $20,000 per year annual advance royalty, on the Ormsby-Nicholas Lake property and a 2% net smelter returns royalty on the Goodwin Lake property.
Diamond drilling completed to date includes 141 holes (27,590 m) drilled at the Nicholas Lake deposit, 707 holes (157,570 m) drilled at the Ormsby and Bruce deposits, 28 holes (5,934 m) drilled at the Goodwin Lake deposit, and 185 holes (40,515 m) drilled at the Clan Lake deposit.
Upon closing, GoldMining plans to commission an independent resource estimate for the Project and complete a technical report documenting the results of this estimate.
Another perfect deal for CEO Amir Adnani, which causes only a marginal dilution of GoldMining’s share structure.
News: GoldMining Enters Agreement to Acquire Yellowknife Gold Project and Big Sky Property
Video: Newsflash #60 with Alabama Graphite, GoldMining & Uranium Energy A few days ago, Klondex Mines provided an updated Mineral Reserve estimate for the True North Gold Mine.
Mineral Reserve Highlights:
- Total P&P Mineral Reserve is 147.9k Au oz, an increase of 25% from the prior estimate
- True North Proven and Probable (“P&P”) Underground Mineral Reserve is 104.7k Au oz at a grade of 0.24 Au opt (8.30 Au g/t) contained within 434k tons; an increase of approximately 23% from the prior estimate
- True North Probable Tailings Mineral Reserve is 43.2k Au oz at a grade of 0.02 Au opt (0.75 Au g/t) contained within 1,950k tons, an increase of approximately 33% from the prior estimate.
MAG Silver reports quarterly numbers
MAG Silver most recently announced the Company’s unaudited financial results for the three months ended March 31, 2017.
As at March 31, 2017, the Company had working capital of US$133,638,000 (March 31, 2016: US$143,496,000) including cash, cash equivalents and term deposits of US$132,442,000 (March 31, 2016: US$142,028,000). The Company currently has no debt and has sufficient working capital to maintain all of its properties and currently planned programs for a period in excess of the next year.
In the three months ended March 31, 2017, the Company funded advances to Minera Juanicipio, which combined with MAG’s Juanicipio expenditures on its own account, totaled US$4,378,000 (March 31, 2016: US$3,034,000). The Company makes cash advances to Minera Juanicipio as ‘cash called’ by the operator Fresnillo, based on approved joint venture budgets. Subsequent to the quarter end, the Company advanced a further US$6,160,000 to Minera Juanicipio, representing its 44% share of a US$14,000,000 cash call to fund intensified underground development on the Juanicipio Property.
The Company’s net loss for the three months ended March 31, 2017 decreased to US$312,000 (March 31, 2016: US$1,297,000) or US$0.004/share (March 31, 2016: US$0.02/share).
News: MAG Silver Reports First Quarter Financial Results A short time ago, Sierra Metals reported a third consecutive exceptional quarter of operational and financial results, aided by stable metal prices and continued production improvements at the Yauricocha Mine.
Highlights of Q1/2017 were:
- Adjusted EBITDA of $25.4 million in Q1 2017 increased from $4.4 million in Q1 2016
- Operating cash flows before movements in working capital of $22.8 million in Q1 2017 increased from $5.0 million in Q1 2016
- Revenue from metals payable of $54.5 million in Q1 2017 increased by 130% from $23.7 million in Q1 2016
- Q1 2017 silver equivalent production of 3.1 million ounces or copper equivalent production of 26.1 million pounds; a 28% increase from Q1 2016 and within production guidance
- $38.0 million of cash and cash equivalents as at March 31, 2017
- Net Debt of $37.1 million as at March 31, 2017
Treasury Metals successfully completes offering!
Treasury Metals Chart Check with Buy signal:
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