Mining Sector Briefing: Leading Mining Companies on Watch for Thursday - Amarium Technologies, IAMGOLD, Barrick Gold, Kinross Gold, Denbury
CORAL SPRINGS, Florida, September 26, 2013 /PRNewswire/ --
With the Fed surprising the markets on Wednesday by staying the course on easy monetary policy, mining shares appeared to catch momentum. FinancialNewsMedia.com issues news updates for active mining companies: Amarium Technologies Inc. (OTC: AMMG), IAMGOLD Corporation (NYSE: IAG), Barrick Gold Corporation (NYSE: ABX), Kinross Gold Corporation (NYSE: KGC) and Denbury Resources Inc. (NYSE: DNR).
Amarium Technologies Inc. (OTC: AMMG) Headline: Amarium Completes High-Grade Copper Ore Purchase Agreement. Amarium Technologies Inc. (OTC: AMMG), through its wholly owned subsidiary Amarium Minerals Inc., reports that the Company has completed an agreement with Minera Cobre SA de CV to purchase 50,000 tonnes of high-grade ore over the next 24 months. The purchased ore is to have an average grade in excess of 2.1% copper per tonne and is to be used as feedstock for both the Jovita Mill and the San Pedro Mill, located in Michaocan, Mexico, while the Company conducts advanced exploration activities at the Jovita property.
"It is key for the Company to keep our existing production facilities operating with sufficient supply and the agreement with Minera Cobre secures a source of high-grade copper ore to utilize as feedstock during our exploration activities at Jovita" said Adam Carter, President & CEO of Amarium. "Our intention is to continue to operate both our mills at their full capacity during this phase and as the ongoing exploration programs advance. It is also vital that the Company builds up adequate stockpiles of ore to be processed after the upgrades at the Jovita Mill have been completed. The Minera agreement enables the Company to satiate our production requirements to our partner, Anglo-Asia, and continue to increase the asset base for our shareholders through earnings and the expansion of our mineral resource. In facilitating this initiative, we have been able to complete this agreement with Minera at terms that fix of our production costs over the next 24 months.".
To read the entire press release, please go to http://www.fnmprofiles.com/profiles-ammg.php
The agreement calls for the delivery of approximately 2,000 tonnes of high-grade ore to be delivered by Minera Cobre monthly. Further details of the agreement will be released at a later date..
IAMGOLD Corporation (NYSE: IAG) will release its third quarter 2013 financial results after market hours on Tuesday, November 5th, 2013. A conference call will be held on Wednesday, November 6th at 8:30 a.m. (Eastern Daylight Time) for a discussion with management regarding the Company's operating performance and financial results for the third quarter of 2013. A webcast of the conference call will be available through the Company's website - http://www.iamgold.com. Conference Call Information: North America Toll-Free: 1-866-551-3680 or International number: 212-401-6760 - Passcode: 46619890#
Barrick Gold Corporation (NYSE: ABX) closed up slightly on Wednesday trading over 14 Million shares. ABXengages in the production and sale of gold and copper. It is also involved in exploration and mine development activities. The company holds interests in the producing gold mines, which are concentrated in North America, South America, and Australia Pacific; producing copper mines located in Chile and Zambia; and a mine under construction is located in Saudi Arabia.
Kinross Gold Corporation (NYSE: KGC) closed up slightly on Wednesday trading over 11.3 Million shares. KGC, together with its subsidiaries, engages in mining and processing gold and silver ores. It is involved in the exploration, acquisition, development, and operation of gold bearing properties. The company has operations in Canada, the United States, the Russian Federation, Brazil, Ecuador, Chile, Ghana, and Mauritania.
Denbury Resources Inc. (NYSE: DNR) closed up 2.36% on Wednesday trading over 10 Million shares. DNR perates as an independent oil and natural gas company in the United States. Its primary focus is on enhanced oil recovery utilizing CO2. The company's operations are located in Mississippi, Texas, Louisiana, and Alabama in the Gulf Coast region; and in Montana, North Dakota, and Wyoming in the Rocky Mountain region..
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