Mining Sector Briefing - Advancing Miners With Exploration & Earnings News: MineralRite, Alpha Natural Resources, Silver Wheaton, Newmont Mining, Freeport-McMoRan
CORAL SPRINGS, Florida, November 1, 2013 /PRNewswire/ --
Market News reports for movers in the mining sector with earnings, development and exploration results: MineralRite Corporation (OTCQB: RITE), Alpha Natural Resources, Inc. (NYSE: ANR), Silver Wheaton Corp (NYSE: SLW), Newmont Mining Corporation (NYSE: NEM) and Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX)
MineralRite Corporation (OTCQB: RITE) Returns From Successful Trip To Africa - MineralRite, a North American mineral processor focused on serving the growing and demanding needs of the vast mining industry, today is pleased to update on recent trip to Ghana, Africa. Kent Harmon, President of Goldfield International, a wholly owned entity of MineralRite and Don Ross, MineralRite's Mining expert, returned this month from a successful trip to Ghana, West Africa. Ghana is the third largest producer of Gold in Africa, English being the official language and has a very mining friendly bureaucracy.
The trip was filled with many meetings with large mining companies along with government officials. The team returned with orders for equipment and many request for quotes on large orders and processing services..
Read the entire press release at: http://www.fnmprofiles.com/profiles-rite.html
The sheer scale of small mining activity in Ghana and surround countries was staggering. There is an enormous need for technical upgrading of equipment and techniques. We want to support the indigenous mining effort as much as possible. We are assessing the possibilities of creating a service and light manufacturing facility in Ghana, to support the volume of our equipment placements into Africa. "Kent Harmon said." This trip was consistent with MineralRite's business model of capitalizing on the recent economic trend of rising mineral prices by processing services, equipment and sales for a fee or percentage.
Alpha Natural Resources, Inc. (NYSE: ANR), a leading U.S. coal producer, reported a third quarter 2013 net loss of $458 million or $2.07 per diluted share compared with a net loss of $46 million or $0.21 per diluted share in the third quarter of 2012. Excluding the items described in our "Reconciliation of Adjusted Net Loss to Net Loss," the third quarter 2013 adjusted net loss was $134 million or $0.61 per diluted share compared with adjusted net loss of $36 million or $0.16 per diluted share in the third quarter of 2012. Read the full report at http://finance.yahoo.com/news/alpha-natural-resources-announces-results-110000270.html
Silver Wheaton Corp (NYSE: SLW) provides update on Pascua-Lama and extends Barrick (NYSE: ABX) silver stream agreements (SLW) 24.40 : Co provided an update and announces an amendment to the silver streaming agreement with Barrick Gold regarding the Pascua-Lama project. As stated in Barrick's Third Quarter Financials news release dated Oct 31, 2013: "Barrick has decided to temporarily suspend construction activities at Pascua-Lama, except those required for environmental protection and regulatory compliance... The decision to re-start will depend on improved project economics such as go-forward costs, the outlook for metal prices, and reduced uncertainty associated with legal and other regulatory requirements."
Newmont Mining Corporation (NYSE: NEM) ("Newmont" or the "Company") reported attributable net income from continuing operations of $429 million, or $0.86 per share, up 7% from $400 million, or $0.81 per share in the third quarter of 2012. Third quarter results benefited from the sale of the Company's investment in Canadian Oil Sands Limited for approximately $587 million, resulting in a pretax gain of $280 million. Adjusted net income2 was $227 million, or $0.46 per share, compared with $426 million, or $0.86 per share, for the prior year quarter. Results for the third quarter of 2013 were favorably impacted by higher production from Nevada and Other Australia/New Zealand operations. Improved production and stable operating costs relative to the prior year quarter were offset by declines of 20% and 13%, respectively, in gold and copper prices. Read the full report at http://finance.yahoo.com/news/newmont-announces-third-quarter-2013-201500602.html
Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) engages in the exploration of mineral resource properties. The company primarily explores for copper, gold, molybdenum, cobalt, silver, and other metals, such as rhenium and magnetite. It operates in five segments: North America Copper Mines, South America Mining, Indonesia Mining, Africa Mining, and Molybdenum Operations. FCX closed down $0.52 per share on Thursday (10/31/13) on 12.08Million Shares but was up slightly in the afterhours trading.
FinancialNewsMedia.com is leading provider of third party publishing & news dissemination services. If you would like more information regarding our news coverage solutions, please visit http://www.financialnewsmedia.com for more details. Get an edge on the market with our Premium News Alerts that are FREE for a limited time at http://www.financialnewsmedia.com/. Follow us on Facebook: http://www.facebook.com/financialnewsmedia and Twitter: http://twitter.com/FNMgroup. Sign up for our FREE SMS News alerts delivered directly to your mobile phone by texting the word PRESS to 545454. (SMS alerts are free, however data rates may apply, check your wireless plan for details.)
DISCLAIMER: FN Media Group LLC (FNMG) is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNMG is NOT affiliated in any manner with any company mentioned herein. FNMG and its affiliated companies are a news dissemination and financial marketing solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNMG's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. The companies that are discussed in this release may or may not have approved the statements made in this release. FNMG is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. FNMG was compensated one thousand five hundred dollars for the dissemination of the news released by MineralRite Corporation (OTCQB: RITE) by non-affiliated third party.
FNMG HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNMG undertakes no obligation to update such statements.
SOURCE FN Media Group LLC
More by this Source
Browse our custom packages or build your own to meet your unique communications needs.
Learn about PR Newswire services
Request more information about PR Newswire products and services or call us at (888) 776-0942.