Point Roberts, WA and Delta, BC - July 30, 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.
Listen to the podcast:Exploring Mining Podcast Episode 88: News from (NYSE: RIO) (NYSE: AGI) (NYSE: CCJ) (NYSE: CDE)
Rio Tinto Group (NYSE:RIO) has approved an additional investment of almost $200 million to progress the next stage of the development, including a feasibility study, of the lithium-borate Jadar project in Serbia. The company's Energy & Minerals Chief Executive Bold Baatar explained:
"Rio Tinto's lithium project pipeline is an important part of our vision to pursue opportunities which are part of the transition to a low-carbon future. We look forward to working closely with the Government of Serbia over the next eighteen months as we develop and validate our understanding of the project to the point when we can seek a final investment decision by the Board of Rio Tinto."
Alamos Gold Inc. (NYSE:AGI) has reported its second quarter 2020 financial results. Highlights include the production of 78,400 ounces of gold, and the selling of 74,605 ounces of gold at an average realized price of $1,692 per ounce for revenues of $126.2 million. John A. McCluskey, the company's President and CEO, said:
The second quarter of 2020 will be remembered as one of the most challenging times in our history given the COVID-19 pandemic. We started the quarter with two of our operations being temporarily suspended, but we adapted well and by June both Island Gold and Mulatos had safely returned to normal operating levels.
At the same time we made good progress on several catalysts that form key parts of what is a transformational year for Alamos. These include the completion of the lower mine expansion at Young-Davidson earlier this month, the announcement of a Phase III expansion of Island Gold, and a construction decision on the La Yaqui Grande project. These have greatly enhanced the long-term outlook for each of our operating mines. We look forward to creating additional value for our stakeholders in the second half of 2020 with higher production and lower costs expected to drive strong free cash flow growth
Cameco Corporation (NYSE:CCJ) has reported its consolidated financial and operating results for the second quarter ended June 30, 2020. According to the press release, the company endured a net loss of $53 million with an adjusted net loss of $65 million, which was "impacted by increasing uranium prices, increased purchase activity and additional care and maintenance costs of $37 million," resulting from its decision to "suspend production at the Cigar Lake mine, Blind River refinery and Port Hope UF6 conversion plant in response to the COVID-19 pandemic." Tim Gitzel, Cameco's president and CEO, said:
"We expect our business to be resilient. Our customers continue to need uranium fuel to power the carbon-free nuclear electricity that will be part of the critical infrastructure needed to ensure hospitals, care facilities and other essential services are available during this pandemic."
Coeur Mining, Inc. (NYSE:CDE) has reported its second quarter 2020 financial results. Some highlights include revenue of $154.2 million, cash flow from operating activities of $9.9 million and GAAP net loss from continuing operations of $1.2 million, or $0.01 per share. Looking forward, the company's President and CEO, Mitchell J. Krebs, said:
"With multiple key catalysts in the coming quarters, we plan to proactively update investors on our capital allocation decisions and their expected impact on the Company's growth, costs and cash flow. We plan to publish an exploration update in August given the size and importance of our investment in exploration in 2020. We also intend to deliver the results of Rochester's updated technical report in the fourth quarter that will detail the updated economics of this important expansion project."
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