#ExploringMining #Podcast
294 - News from (NYSE: $TRQ) (NYSE: $RIO) (ASX:NCM) (TSXV: $CGP.V)
(NYSEAmerican: $MAG) (TSXV: $MTU.V)
Vancouver, Kelowna, Delta, BC, August 17,
2022 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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podcast:
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A Special Committee from
Turquoise Hill Resources Ltd. (NYSE:TRQ) has terminated its review of a non-binding
proposal from Rio Tinto Group (NYSE:RIO) wherein the latter would acquire
full ownership of the former. Rio Tinto, according to the press release, “is
disappointed by the decision of the Special Committee and continues to believe
that the terms of the Proposed Transaction would deliver compelling value for
Turquoise Hill minority shareholders.” Rio Tinto’s Chief Executive of Copper,
Bold Baatar, said:
"Rio
Tinto remains as committed as ever to the long-term success of Oyu Tolgoi.
While we are disappointed by this decision, we will continue to work
constructively with the Board of Turquoise Hill to advance the Oyu Tolgoi
project."
Newcrest International Pty
Limited, a subsidiary of Newcrest Mining Limited (ASX:NCM), has notified Cornerstone Capital Resources (TSXV:CGP) and its subsidiary Mineral
Cornerstone Chile Limitada (MCCL) that it intends to withdraw from the option
and farm-in Agreement on MCCL’s Miocene concessions in Chile . This involves
the targeting of “epithermal gold-silver and porphyry gold-copper deposits
along the interpreted northern extension of the Maricunga magmatic belt that
hosts several world-class gold deposits.”
MAG Silver Corp. (NYSEAmerican:MAG) has announced its unaudited financial results for
the three and six months ended June 30, 2022. Highlights include the processing
of 154,069 tonnes of mineralized development and stope material – with
2,207,626 payable silver ounces, 5,119 payable gold ounces, 1,016 payable
tonnes of lead and 1,599 payable tonnes of zinc produced and sold. George
Paspalas, MAG’s President and CEO, explained:
“As
we look forward to the final tie-in to the electrical grid at Juanicipio, Q2
continued the trend of strong operational performance with record toll milling
through the Saucito and Fresnillo operations and robust cash generation. The
project operator Fresnillo reports final tie-in to the power grid is expected
in the coming weeks and target ramp-up to 85-90% of nameplate capacity by year
end remains within reach.”
Manitou Gold Inc. (TSXV:MTU) has reported its board of directors having
approved a strategic reorganization of assets, including the possibility to
“spin out the nickel-cobalt-PGE commodities from its Goudreau project into a
newly incorporated, wholly-owned subsidiary named Western Nickel Corp.” Richard
Murphy, the company’s President and CEO, said:
“The
Spin-Out of Western Nickel by Manitou will be very positive for all
shareholders of the Company. Our shareholders will receive new shares of a pure
nickel-cobalt-PGE company for no additional consideration, as well as a
continued indirect interest in Western Nickel through the interest to be
retained in the spun-out company by Manitou. As a result, they will benefit
from the upside potential of both a gold focused company, as well as a
Ni-Co-PGE company – all within the 366 square km Goudreau project.”
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