Proactive’s Post

Caledonia Mining (CMCL) Corporation PLC (AIM:CMCL, NYSE-A:CMCL) declared a quarterly dividend of US$0.14 per share as it reported a robust performance of Zimbabwe's Blanket mine in 2023, with cash flows improving in the second half. The dividend was kept the same level as the prior year even though, as revealed in a trading update at the start of this month, production was in line with expectations but one-off costs took the edge off profits. Chief executive Mark Learmouth said: “We continue to see Blanket as the solid foundation for growth as we pursue our strategy to become a multi-asset gold producer.” Following encouraging underground exploration restarted during the year, he said a revised resource statement is planned to be published in the second quarter of 2024 that incorporates an increase in Blanket's life-of-mine. More at #Proactive #ProactiveInvestors #CaledoniaMiningCorporation #mining #blanketmine http://ow.ly/eBFZ105nCTt

🔔 Equinox Pours First Gold at Greenstone Mine in Ontario 🔔 🌟 A Milestone for Gold Mining in Canada 🌟 Equinox Gold (TSX: EQX) has poured the first gold at its new Greenstone mine near Geraldton, Ontario, producing 1,800 ounces. Greg Smith, Equinox's CEO, commented: "We look forward to ramping up to commercial production in the third quarter of this year and delivering sustained value to all our stakeholders." The Greenstone mine aims to reach 90% of its plant's 27,000 tonnes per day capacity by the end of 2024. Production in 2025 is expected to be 199,000 ounces at a cost of $879/oz in the second half of the year. At full capacity, the mine will produce approximately 400,000 ounces annually during its first five years and 360,000 ounces annually over the 14-year life of the mine. In April, Equinox acquired the remaining 40% of the mine from Orion Mine Finance for approximately C$1.4 billion ($995 million) in cash and shares. https://lnkd.in/eQAxqTA8 What do you think the successful pouring of the first gold at Greenstone Mine signifies for the future of gold mining in Canada and its impact on local communities? #Lithium#gold #paneldiscussion #criticalminerals #evcharging #energytransition #cobalt #nickel #graphite #ESG #mining#Mining #Digitalization #SustainableEnergy #TalentManagement #Efficiency

Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF) has poured its first gold from the Lafigué mine in the Ivory Coast just 21 months after starting construction. Ian Cockerill, chief executive, commented that it was a proud moment for the miner. “Alongside the first gold pour at the Sabodala-Massawa BIOX expansion that we achieved in April, [Lafigue] marks the successful completion of the recent phase of investment and growth that we started in teh second quarter of 2022. “We now begin a new phase of increased free cash flow generation, de-levering and enhanced shareholder returns.” Lafigué is Endeavour’s fifth project in the last decade and was discovered for US $31 million, equivalent to an industry-low discovery cost of just $12 per ounce of M&I resources. “It will be a cornerstone asset that has the potential to produce over 200koz per year, at an industry-leading all-in sustaining cost of approximately... More at #Proactive #ProactiveInvestors http://ow.ly/zJRU105yZWL

After achieving record production of 19,000 ounces at an AISC of A$2,878 per ounce, Ora Banda Mining Ltd (ASX:OBM) is undervalued for a potential 150,000 ounces per annum producer, according to Foster Stockbroking. In a research report, Foster said that the 11% quarter-on-quarter increase in production came despite heavy rainfall during June which impacted production by 2,600 ounces. The company also had stronger sales of 18,000 ounces (+8%) at a better price of A$3,530/ounce (+11%), which offset the 6% increase in AISC and led to a 19% increase in revenue to A$64 million. Foster said Ora Banda had hit FY24 production guidance at 70,000 ounces (+46% YoY) resulting in higher revenue of $214 million (+58% YoY).   More at #Proactive #ProactiveInvestors #Gold #GoldMining #GoldStocks #GoldProduction #MiningAustralia #BrokerResearch #MarketResearch http://ow.ly/Lfzm105Ev6i

Perseus Mining Limited has delivered strong production from its three operating gold mines in the September quarter, #Yaouré and #Sissingué in Côte d’Ivoire and #Edikan in Ghana, with a combined 121,290 ounces of gold produced.  Perseus says the strong operating results “confirm once again Perseus’s position as one of the world’s better performing mid-tier gold producers.” ⚡Weighted average production cost of US$990/oz, weighted average AISC was US$1,201/oz of gold. ⚡Gold sales totalled 108,895 ounces. ⚡Realised gold price averaged US$2,249/oz — US$132/oz more than Q4 FY24. More at #Proactive #ProactiveInvestors #PRU #PMNXF http://ow.ly/yErQ105MHKM

Perseus Mining Limited (ASX:PRU, TSX:PRU, OTC:PMNXF) recorded another strong quarter at its West African operations with 120,929 ounces of #gold produced in the June quarter at an All-in-Site Cost (AISC) of US$1,173 per ounce. The company met guidance for the June 2024 half-year and FY24 with 248,400 ounces and 509,977 ounces produced respectively compared to the respective estimated ranges of 226,000-254,000 ounces and 491,000 to 517,000 ounces from the Yaouré and Sissingué mines in Côte d’Ivoire, and Edikan mine in Ghana. On the cost side of the ledger, Perseus delivered an encouraging result with AISC for the half year of $1,130 per ounce being below the guidance of US$1,180 to US$1,340 while for FY24, AISC was US$1,053 per ounce, which was in the middle of the guidance range of US$1,000 to US$1,100 per ounce. More at #Proactive #ProactiveInvestors #Gold #GoldMining #GoldStocks #GoldProduction http://ow.ly/E7Ux105CA4e

Did you know? The #DRC’s main #economic #resource is its #mineral #deposits; mining produces almost nine-tenths of total #exports. The abundance of minerals was among factors that attracted European powers to Congo in the 19th century. #Loncor controls 4 million ounces of high-grade #gold resources with various projects in the #DRC. Learn more here: https://loom.ly/Ce70RGc TSX: LN | OTCQX: LONCF | FSE: LO51 #GoldInvesting #GoldStocks #Invest #Investment #GoldInvesting #Gold#Investment #GoldExploration #StockMarket #Mining #MiningNews

G Mining Ventures Corp. today published strong results for their high-grade Oko West #gold project in #Guyana. Key highlights from the study show: ✅After-tax NPV5% of $1.4 billion, IRR of 21% and payback of 3.8 years at $1,950/oz base case gold price (long-term consensus) ✅After-tax NPV5% of $2.5 billion, IRR of 31% and payback of 2.0 years at $2,500/oz spot gold price ✅Average annual gold production of 353,000 ounces at an AISC of $986/oz for 12.7 years ✅Startup capital cost of $936 million and sustaining capital of $537 million over the life of mine ✅An average of 1,260 direct permanent jobs to be created from the Oko West Project To read the full announcement, click here: https://bit.ly/4efAMXV #PEA #miningnews #goldinvesting

Ora Banda Mining Ltd (ASX:OBM) notched up record #GoldProduction for the fourth consecutive quarter with 19,271 ounces produced at the Davyhurst operations in Western Australia, one of numerous key value milestones that have set a strong growth platform for the company going into FY25. #Gold production for the three months was 11% higher than the previous quarter and came with no lost time injuries. This output was achieved despite significant rainfall in the second half of June which restricted processing throughput by ~25,000 tonnes and impacted production by about 2,600 ounces. More at #Proactive #ProactiveInvestors #GoldMining #GoldStocks #MiningAustralia http://ow.ly/CizB105BNAT

G Mining Ventures Corp (TSX-V:GMIN, OTCQX:GMINF) has been upgraded to a ‘Buy’ rating and earned a boosted price target from analysts at Jefferies after it released better-than-expected economics for its Oko West gold project in Guyana. Analysts upped their price target by 30% to C$13 as their Oko West valuation was lifted by lower assumed costs and higher production. This implies upside of about 50% from G Mining’s share price at the time of writing. G Mining’s Preliminary Economic Assessment (PEA) for Oko West includes production of 353,000 ounces per year at an all-in sustaining cost of $986 per ounce, compared to the Jefferies analyst expectations of... http://ow.ly/71nO105InyB