Point Roberts, WA and Delta, BC – March 19, 2020 (Investorideas.com Newswire) Investorideas.com, a global investor news source covering mining and metals stocks releases today’s edition of Exploring Mining Podcast, featuring stock news from TSX, TSXV ,CSE, ASX, NASDAQ, NYSE companies plus interviews with CEO’s and leading experts.
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Exploring Mining Podcast: News from (NYSE: AEM) (NYSE: EXK) (NYSE American: LODE) (TSXV: BTR)
Agnico Eagle Mines Limited (NYSE:AEM) has provided an update on its operations in the Canadian territory of Nunavut following the declaration of a state of public health emergency relating to COVID-19 by the Government of Nunavut. The company will send its Nunavut-based workforce from the Meliadine and Meadowbank operations, as well as the exploration projects, home for four weeks with pay for the time being. Agnico Eagle Mines CEO Sean Boyd said:
“We value our relationship with the people of Nunavut and are committed to do what is best for the health, safety and well-being of all our employees and the communities. This precautionary measure is being implemented in order to eliminate the potential risk of transmission of COVID-19 from a southern worker to a Nunavut worker, with the risk of it moving into the communities.”
“During these turbulent times, we are fully committed to reducing the health risk to our employees and any potential disruptions to our business. We will continue to work proactively to protect the health of our employees, local stakeholders and our communities as we navigate the current situation.”
Additionally, the company has received an economic summary of the updated pre-feasibility study (PFS) for the Terronera silver-gold mine project in Jalisco, Mexico. The summary returned disappointing economic results, prompting the company to conduct a review. Cooke explained:
“The Terronera Project has the potential to become our largest, lowest cost, and longest life mine. We’re disappointed the latest draft PFS economics differ from the prior PFS economics. As a result, we have decided to reconceptualize the project using our in house expertise so that Terronera can become a model for our future mines.”
Comstock Mining Inc. (NYSE American:LODE) has announced its financial results for the fiscal year ended December 31, 2019. Some strategic and operational highlights include the launching of mercury remediation, clean technology growth venture Mercury Clean Up LLC, the receipt of a favorable Court ruling on the Dayton Resource zoning, the completion of corporate and legal entity realignment, the increase of total assets by 38.3%, to $39.6 million, and reduction of total debt by 41%, to $5.4 million, and more. Corrado De Gasperis, Executive Chairman and CEO of the Company, said:
“Last year was dedicated to repositioning the Company for precious metal-based growth, including realigning the existing gold and silver assets to facilitate both transactional and development-based growth, partnering twice with Tonogold for advancing our northern mining and exploration properties, partnering with MCU to advance our operating platform for global mercury remediation, partnering with Sierra Springs to sell our Silver Springs non-mining assets and, in each case retaining equity ownership in all partners. We also cleared the zoning on our 100%-owned Dayton resource area, while significantly increasing our assets, decreasing our liabilities and reducing our debt toward extinguishment.”
Bonterra Resources Inc. (TSXV:BTR) has suspended all drilling at the Gladiator, Barry, and Moroy Projects and preparations for the bulk sample at Moroy. The company’s three camps and the Val-d’Or office will be limited to security and care and maintenance staff, while its exploration team has been asked to work from home. The suspension is expected to last for a minimum of three weeks.
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