Exploring Mining Podcast Episode 90 –
News from (NYSE: $HL) (NYSE: $IAG) (NYSE: $PVG) (TSXV: $APN.V)
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Hecla Mining Company (NYSE:HL) has reported its second quarter 2020 financial and
operating results. Highlights include sales of $166.4 million, which represents
an increase of 24 percent over the prior year period. Phillips S. Baker, Jr.,
Hecla's President and CEO, said:
“Despite
the pandemic, Hecla had its second highest quarterly silver production since
2016 which, combined with higher prices, resulted in almost 25% more revenue
than a year ago and generated about $27 million of free cash flow. I am
extremely proud of our workforce's adaptability and commitment in this
challenging time which positions Hecla well to improve our cash flow generation
in this higher silver and gold price environment."
IAMGOLD Corporation (NYSE:IAG) has reported its consolidated financial and operating
results for the quarter ended June 30, 2020. Highlights include revenues of
$284.6 million and attributable gold production from continuing operations of
155,000 ounces. Gordon Stothart, President and CEO of IAMGOLD, commented:
"IAMGOLD
delivered solid operating results in the quarter, generating $72.4 million in
operating cash flow and producing 155,000 ounces of gold. These results were
achieved despite the temporary suspension of mining activities at Westwood and
Rosebel, with both operations back online as of April 15 and July 24,
respectively, and the anticipated continued impact of the global COVID-19
crisis.”
Pretivm Resources Inc. (NYSE:PVG) has reported its operating and financial results
for the second quarter and first-half of 2020. The company’s President and CEO,
Jacques Perron, said:
“Brucejack
delivered another profitable quarter with record free cash flow. In the first
six months of the year the mine produced 173,307 ounces of gold generating
$293.1 million in revenue and $124.6 million in free cash flow, surpassing our
full-year free cash flow target.
However,
no quarter at Pretivm is considered a success unless it is accomplished safely.
The loss of one of our employees, announced a few days ago, is a tragic
reminder of the importance of safety in all mine operations. Our thoughts are
with the employee’s family and loved ones. We will work tirelessly to ensure a
safe workplace for everyone at Brucejack, which will directly support our
efforts to operate efficiently and profitably.”
Altiplano Metals Inc. (TSXV:APN) has reported the July 2020 production results from
the historic Farellon Copper-Gold mine located near La Serena, Chile. According
to the press release, the mine “produced approximately 4,100 tonnes of
mineralized Cu/Au material at an approximated grade of 1.8% copper, and shipped
a total of 3,762 tonnes for processing.” The company’s CEO, Alastair McIntyre,
said:
"I
am pleased to see continued output from Farellon at sustainable production
levels and grades. With four working faces at the 389 m and 382 m levels and
soon two more at the 376 m level, this will permit us to improve output,
productivity and add an additional layer of grade control which ultimately has
a positive impact on our bottom line."
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