New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
July 3, 2014
14:15 EDTLSGLake Shore Gold sees FY14 gold production of 160K-180K ounces
Lake Shore Gold announced record quarterly and six-month production in Q2 and the first half of 2014. A total of 52.3K ounces of gold was produced in Q2. The company both poured and sold 53.5K ounces of gold during Q2, with an average selling price of $1,289 per ounce. The company's cash and bullion totaled approximately $53M at June 30. In the first half of 2014, the company produced 96.9K ounces of gold. Gold poured during the first half of 2014 totaled 99.2K ounces, while the company sold 96.5K ounces of gold at an average selling price of $1,291 per ounce. Based on results in the first half of 2014, the company now expects to achieve the top end of its 2014 production guidance of 160K to 180K ounces of gold. CEO Tony Makuch commented, "We have also repaid approximately $17M of debt so far in 2014, including a $10M prepayment on our standby line of credit on June 4. Supported by our growing financial strength, we have resumed drilling at our mines to grow reserves and resources and extend mine life. We are also advancing work at a number of our key growth projects, and will soon commence drilling at our 144 property, a very exciting exploration target located adjacent to our Thunder Creek deposit."
News For LSG From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
August 4, 2015
18:45 EDTLSGLake Shore Gold acquires significant equity interest in IDM Mining
Lake Shore Gold announced that the company has acquired 7.5M common shares of IDM Mining and warrants to acquire an additional 20M common shares of IDM, representing 31.2% of the outstanding shares of IDM on a partially diluted basis. Together with IDM shares already held by Lake Shore Gold, the company now owns, or has the right to acquire, a total of 31,952,290 common shares of IDM, representing 36.3% of IDM's outstanding shares on a partially diluted basis. In connection with the transaction, Lake Shore Gold and IDM have entered into an agreement which provides Lake Shore Gold with the right (but not the obligation) to nominate one person to the board of directors of IDM for so long as Lake Shore Gold holds at least 9.9% of IDM's outstanding common shares. Lake Shore Gold has not exercised, and has no current intention to exercise, this right. Lake Shore Gold acquired the 7.5M common shares and share purchase warrants in satisfaction of an outstanding obligation of IDM to issue up to 25M shares to Lake Shore Gold in connection with a previous sale of certain properties to IDM. Lake Shore Gold has also agreed to purchase 2.5M units (each comprising one common share and one half share purchase warrant) in connection with a private placement financing first announced by IDM on May 19.

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