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Sibanye-Stillwater announces positive operating figures for the second half of 2017
A couple of days ago, Sibanye-Stillwater report positive operating results for the year ended 31 December 2017, with all the operations delivering solid results in the second half of the year.
Gold production at in the South African operations for the year ended 31 December 2017 of 43,600kg (1.4Moz) was higher than guidance (provided in the Q3 operating results) of between 42,000kg and 43,000 kg (1.35Moz and 1.38Moz), with gold production for the second half of the year 4% higher than for the first half, despite the closure of the Cooke operations in October 2017. All-in sustaining cost (AISC) for the year is expected to be approximately R483,000/kg (US$1,130/oz) which is better than guidance of between R485,000/kg and R495,000/kg (US$1,115/oz and US$1,140/oz).
The positive momentum at the SA PGM operations continued, with attributable PGM production of about 1.19M 4Eoz for the year ended 31 December 2017, 4% higher than the upper range of guidance of 1.15M 4Eoz with attributable PGM production for the second half of the year of 603,635 4Eoz, 2% higher than for the first half. AISC is expected to be approximately R10,300/4Eoz (US$775/4Eoz), which is lower than guidance provided of between R10,500/4Eoz and R11,000/4Eoz (US$775/4Eoz and US$815/4Eoz).
The US PGM operations produced about 376,300 2Eoz for the eight-month period since acquisition by Sibanye-Stillwater, which was in line with guidance of between 350,000 (2Eoz) and 380,000 (2Eoz). Pleasingly, the US operations delivered record recycling throughput for the year and, as previously disclosed, the Blitz project yielded first PGM output in October 2017, ahead of schedule. AISC of approximately US$650/2Eoz for the eight months is in line with guidance of between US$620/2Eoz and US$650/2Eoz.
Summarized, this is a positive set of operating results, which, combined with the restructuring of the Cooke operations completed in the fourth quarter of 2018, provides a solid base for deleveraging the Group in 2018.
News: Sibanye-Stillwater operating update for the six months and year ended 31 December 2017
Video: Sibanye Stillwater: Proposed Acquistion Of Lonmin
Gold: US job data used to take pressure on – stock market crash should give a push
Last Friday, the gold price went to rack and ruin. Market participants used the (officially) strong US job data to take pressure on gold. Initially it worked, but in the meantime part of the losses have been neutralized. The yield of 10-year government bonds and the US$ walked upwards, which gave pressure on the gold price – the same procedure as always. Concurrently, the standard indices showed first signs of a new downwards trend, which continued on Monday and morphed into some kind of crash scenario. Even if parts of the losses may have been generated by algorithmic programs, the shock was heavy, and fear is always a good thing for gold. Upwards push not impossible. A breakout above US$1,365 would be important now.
Gold With A Target +1700$
Silver: Closing triangle provides potential break-out in fall?!
The heavy hit on Friday was even harder for silver, but the losses have also been partly neutralized in the meantime. Much more interesting is a look on the silver chart since the beginning of 2016, as the last larger bottom building happened. Since that time, the silver price ran and runs into a closing triangle, which often provides high potential for an upwards breakout. By drawing this triangle further, one can imagine, that the two sides will meet somewhen next fall. On time to a seasonal strong time for the precious metal.
The next months seem to become extremely exciting for both precious metals.
Video: Silver takes a bit longer
Caledonia Mining: new research report with course aim of US$12!
Endeavour Silver plans to increase production by 20% in 2018!
Endeavour Silver recently announced the 2018 production and cost guidance for its three operating mines and one development project in Mexico.
In 2018, silver equivalent production is expected to increase by 20% compared to 2017. Endeavour forecasts higher silver and gold production at all three existing mines as well as initial production from the new fourth mine at El Compas by the end of March, with commercial production scheduled for the end of July.
Silver production is anticipated to be in the range of 5.8-6.4 million ounces (oz) and gold production is expected be in the 58,000-64,000 oz range. Silver equivalent production is forecast to be 10.2-11.2 million oz using a 75:1 silver:gold ratio.
Excellent news from Endeavour Silver, as cash costs and all-in sustaining costs are expected to decline in 2018 compared to 2017, due to the higher forecast production.
News: Endeavour Silver Provides 2018 Production and Cost Guidance
Video: Newsflash #73 With 2017 Production Figures Endeavour Silver & Caledonia Mining
Uranium Energy plans resource base increase in 2018
EnWave: US Army pleased with product development results
US Gold Corp. announces discovery at Copper King
EnWave manages commercial entrance into cannabis market
EnWave recently announced that it has achieved a series of positive product development results in partnership with the US Army Natick Soldier R&D Center (“US Army”) as part of a project to create superior, phytonutrient-rich field rations for soldiers in the field.
Protein is a readily available source of nourishment for field soldiers however, the highly perishable nature of fruits and vegetables presented a challenge for the US Army. By comparison to traditional dehydration techniques, Dr. Tom Yang, leading food technologist for the US Army, has capitalized on the unique solution that EnWave’s innovative Radiant Energy Vacuum (REVTM) technology provides. By using the Company’s REVTM technology, nutrient-rich rations can be provided to field soldiers in high volumes, with a longer shelf life, without compromise to food quality or soldier performance.
Furthermore, Dr. Yang believes the initial effort has only scratched the surface for future possibilities. The joint project between EnWave and the US Army has brought together government, academia and industry to advance the US Army’s objective of creating new innovative field rations for soldiers. All contracted work is taking place at EnWave’s pilot plant facility in Vancouver, Canada. With the first phase of positive results achieved, the US Army and EnWave plan to continue in the project with the ultimate goal of employing REVTM on a commercial basis for the production of soldier field rations.
Should this happen, EnWave could get an enormously lucrative order with long-term potential.
News: EnWave Provides Progress Update on Advanced Development Project with US Army to Create Nutrient Rich Field Rations
TerraX Minerals confirms new discovery Sam Otto South – Expansion of potential strike length a to over 5 km!
EnWave recently reported that for the first time, it has shipped a commercial Radiant Energy Vacuum (REV™) dehydration machine for further research refinement and also the commercial production of medical cannabis. Additionally, the Company has named Tilray, a major Canadian Licensed Producer, as its licensed partner. The License grants Tilray an exclusive right to use and sub-license the Company’s proprietary REV™ dehydration technology in Canada for efficient production of high-quality dried and decontaminated cannabis products.
The shipment and installation marks EnWave’s entrance into the rapidly growing Canadian cannabis market. An important milestone for EnWave, as the cannabis market is one of the fastest growing sectors worldwide.
News: EnWave Announces Exclusive Partnership with Medical Cannabis Producer Tilray® and the Shipment of First Radiant Energy Vacuum Machine for the Commercial Production of Medical Cannabis
First Cobalt discovers silver mineralization
A short time ago, TerraX Minerals reported channel sample results from the Sam Otto South zone on Screamer Island. Sam Otto South is up to 3.5 km south and along trend from the main Sam Otto and extends the potential strike length of that target area to over 5 km. Channel sample results confirm the extension of the Sam Otto zone 1.5 kilometers south of the currently drilled Sam Otto main zone.
That is a sensational news, as this gold zone firstly is 100 meters wide and secondly potentially extends the whole way to the Sam Otto Main Zone.
News: TerraX channel sampling confirms a 100 meter wide mineralized zone at Sam Otto South
Map: Sam Otto South
First Cobalt intersects broad cobalt mineralization
A few days ago, First Cobalt reported positive drill results from its 2017 drill program, intersecting 25 meters of fracture-controlled silver mineralization in the Canadian Cobalt Camp. The company intersected 106.2 g/t Ag over 13.7m, including 445 g/t Ag over 3.0m, near the Keeley Shaft.
Although the company is in the early days of its drill campaign, these results clearly demonstrate the potential for long cobalt and silver drill intercepts outside the historically mined vein systems.
News: First Cobalt Intersects 25 Metres of Mineralization at Keeley Mine
Furthermore, First Cobalt was able to report over 30 meters of disseminated cobalt mineralization in the southern part of the Canadian Cobalt Camp. Multiple drill intercepts in this area demonstrate that cobalt mineralization likely occurs as a broad zone, over approximately 350 meters of strike length associated with the historically mined Woods Vein and other transecting structures.
The company discovered over 70 meters of anomalous cobalt (>0.03%) as disseminated mineralization in the southern portion of the historic Keeley mine starting 15 meters from surface
Highlight were 15.7 meters of 0.12% Co, including 6.2 meters at 0.21% Co, reflecting similar mineralization in surface grab samples.
Therewith, a key objective of the company’s maiden drill program has been realized. First Cobalt has clearly demonstrated that disseminated cobalt and silver mineralization exist near-surface and outside the veins that were the focus of historic underground mining operations.
News: First Cobalt Intersects Broad Cobalt Mineralization at the Keeley Mine
Company update on Osisko Gold Royalties:
Video: Osisko Gold Royalties: Growing Royalty & Streaming Cashflow
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