Mining Plays Point Towards 2014 Recovery - Company Forges Forward With Mining Production Permits & Plans
CORAL SPRINGS, Florida, February 6, 2014 /PRNewswire/ --
Precious Metals & Mining Sector aims to rebound in 2014 as leaders expand operations & production: DNA Precious Metals Inc. (OTCQB: DNAP), Vale S.A. (NYSE: VALE), Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX), Avino Silver & Gold Mines Ltd. (NYSE: ASM) and Encana Corporation (NYSE: ECA)
DNA Precious Metals Inc. (OTCQB: DNAP) is pleased to announce that it has answered all comments to date from the Quebec Ministry of Sustainable Development, Environment, Wildlife and Parks pertaining to an application for an amendment to a certificate of authorization to operate a milling facility. The amendment request to the existing certificate of authorization is to include an additional extraction process methodology. In September of 2012, DNA was issued a certificate of authorization from the Quebec Ministry of Sustainable Development, Environment, Wildlife and Parks authorizing the Company to process mining residues by gravity separation methodology. The amendment request filed in the Summer of 2013 includes the processing of the mining residues through a Merrill Crowe cyanide closed circuit system.
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Extensive laboratory testing work on an extraction process for the mining residues on the Montauban Mine Property demonstrated that a combination of gravity separation and closed circuit cyanization was the most effective process for the successful recovery of the precious metals. The combined extraction methodology increased the recovery percentages of gold and silver in the mining residues. With the implementation of the combined extraction methodology process, DNA may recover up to 92% of the gold and 77% of the silver from the mining residues on the Montauban Mine Property.
Vale S.A. (NYSE: VALE) engages in the research, production, and marketing of iron ore and pellets, nickel, fertilizers, copper, coal, manganese, ferroalloys, cobalt, platinum group metals, and precious metals in Brazil and internationally. Its Bulk Material segment engages in the extraction of iron ore and pellet production, as well as operation of transport systems in Brazil, including railroads, ports, and terminals related to mining operations. This segment is also involved in the production of manganese and ferroalloys; and mining of coal. The company's Base Metals segment produces non-ferrous minerals, including nickel and copper; and aluminum products. Vale S.A.'s Fertilizers segment provides potash, phosphates, and nitrogen. The company's Logistic Services segment offers cargo transportation services, such as rail transport, port, and shipping services for third parties. In addition, Vale S.A. generates energy through hydroelectric plants and centers in Brazil, Canada, and Indonesia; and has a natural gas exploration portfolio of 18 blocks in 4 petroleum basins in Brazil. VALE closed up 3.01% on Wednesday afternoon on over 34.9 million shares traded.
Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) recently reported their fourth quarter 2013 results: Net income attributable to common stock for fourth-quarter 2013 totaled $707 million, $0.68 per share, compared with net income of $743 million, $0.78 per share, for fourth-quarter 2012. Net income attributable to common stock for the year 2013 totaled $2.7 billion, $2.64 per share, compared with $3.0 billion, $3.19 per share, for the year 2012. Consolidated sales for fourth-quarter 2013 totaled 1.14 billion pounds of copper, 512 thousand ounces of gold, 22 million pounds of molybdenum and 16.6 million barrels of oil equivalents (MMBOE), compared with 972 million pounds of copper, 254 thousand ounces of gold and 21 million pounds of molybdenum for fourth-quarter 2012. Consolidated sales for the year 2013 totaled 4.1 billion pounds of copper, 1.2 million ounces of gold, 93 million pounds of molybdenum, and 38.1 MMBOE (for the seven-month period from June 1, 2013, to December 31, 2013), compared with 3.65 billion pounds of copper, 1.0 million ounces of gold and 83 million pounds of molybdenum for the year 2012. Read the full report at http://finance.yahoo.com/news/freeport-mcmoran-copper-gold-inc-130000153.html
Avino Silver & Gold Mines Ltd. (NYSE: ASM) is pleased to announce the January 2014 production results from its San Gonzalo mine and Avino Mine surface stockpile operations located on the Avino property near Durango, Mexico. Silver & gold feed grades for January increased significantly over those of December by 26% and 18% respectively. The higher feed grades with stab le recoveries and consistent feed tonnage processed resulted in increased silver and gold production by 30% and 21% respectively. Concentrate grade assays were also higher on account of the higher feed grades. Mill availability was also better in January because of 2 fewer holidays.
Encana Corporation (NYSE: ECA) and its subsidiaries engage in the exploration for, development, production, and marketing of natural gas, oil, and natural gas liquids in Canada and the United States. The company owns interests in resource plays that include the Cutbank Ridge in northern British Columbia; Bighorn in west central Alberta; Peace River Arch in northwest Alberta; Clearwater in southern Alberta; and Greater Sierra in northeast British Columbia, as well as emerging plays, such as the Duvernay in west central Alberta and Deep Panuke natural gas project offshore Nova Scotia. It also holds interests in resource plays comprising Piceance in northwest Colorado; Jonah in southwest Wyoming; Haynesville in Louisiana; and Texas. ECA closed up 1.95% on Wednesday afternoon on over 13.6 million shares traded.
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