New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
April 10, 2014
05:22 EDTGGGoldcorp announces Q1 gold production 680,000 oz
Gold production for the period totaled 680,000 ounces. The final calculation of capital and operating costs has not yet been completed, but all-in sustaining costs for Q1 are expected to be approximately $875 per ounce. The company also provided revised guidance reflecting the sale of the Marigold joint venture completed on April 4. The company has re-forecast 2014 gold production to between 2.95M-3.1M ounces with all-in sustaining costs expected to remain within the range of $950-$1,000 per ounce of gold.
News For GG From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
August 27, 2015
08:05 EDTGGNew Gold to sell El Morro Interest to Goldcorp for $90M and 4% gold stream
New Gold (NGD) has entered into an agreement with Goldcorp (GG) to sell New Gold's 30% interest in the El Morro project to Goldcorp in exchange for $90M in cash, a 4% stream on gold production from the El Morro property and the cancellation of New Gold's $93M carried funding loan. The $90M are to be paid at closing of the transaction, expected to be in Q4. The 4% stream is on life-of-project gold production from the 417 square kilometre El Morro property, with currently estimated gold mineral reserves of 599M tons at an average gold grade of 0.46 g/T, totalling 8.9M oz. New Gold will pay a fixed $400/oz. on the first 217K ounces of gold delivered as part of the stream. New Gold will no longer be obligated to repay the $93M in debt that Goldcorp funded on the company's behalf. Goldcorp and Teck Resources (TCK) plan to combine their respective El Morro and Relincho projects into a 50/50 joint venture with the interim name of Project Corridor. Goldcorp and Teck are expecting to commence a Pre-Feasibility Study in early 2016 which should be completed 12 to 18 months thereafter.
08:03 EDTGGGoldcorp, Teck Resources combine El Morro, Relincho projects in Chile
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the theflyonthewall.com disclaimer & terms of use