Precious Metals Advancers Maintain Upward Trend: Amarium Technologies, NovaGold Resources, Newmont Mining, Vale, Kinross Gold and Gold Fields
CORAL SPRINGS, Florida, November 12, 2013 /PRNewswire/ --
Precious Metals & Market updates for advancing leaders in the mining sector: Amarium Technologies Inc. (OTC: AMMG), NovaGold Resources Inc. (NYSE: NG), Newmont Mining Corporation (NYSE: NEM), Vale S.A. (NYSE: VALE), Kinross Gold Corporation (NYSE: KGC) and Gold Fields Ltd. (NYSE: GFI)
Amarium Technologies Inc. (OTC: AMMG) reports Net Earnings for the 3rd quarter ending September 30, 2013, of $392,034, the Company's first earnings report to include revenues from the producing La Jovita and San Pedro Copper Mines in Michoacán, Mexico. Amarium reported total production revenues from both sites of $784,035 during the period.
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Adam Carter, the President & CEO of Amarium stated that he was very pleased with the 3rd Quarter results, especially given all the changes the Company is currently undergoing. "Q3 is a milestone for the Company, as this marks the first earnings statement since the change of business direction and the acquisitions of the La Jovita and San Pedro Copper Mines. Revenues and earnings exceeded projections, due to production of both our copper mills running well ahead of schedule. We can now begin to focus more of our attention on the ongoing expansion and exploration activities at La Jovita, to ensure our growth moving forward."
NovaGold Resources Inc. (NYSE: NG) engages in the exploration and development of mineral properties primarily in Alaska, the United States and British Columbia, Canada. The company primarily explores for gold, silver, copper, zinc, and lead ores. It primarily holds interest in the Donlin Gold deposits located in southwestern Alaska covering an area of approximately 81,361 acres.
Newmont Mining Corporation (NYSE: NEM) recently 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 income 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.
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.
Kinross Gold Corporation (NYSE: KGC), a Canadian-based gold mining company, recently signed a three-year deal with BT to provide a communications network connecting sites in the U.S., Canada, Brazil, Chile and Spain. Since 1993, Kinross has grown through the merger and acquisition of a number of smaller, specialized gold mining interests. This created a challenge in developing and managing a centralized network infrastructure that can grow and house common applications. Kinross chose BT Connect, a suite of network services, to bring together and manage the communications network.
Gold Fields Ltd. (NYSE: GFI) engages in the acquisition, exploration, development, and production of gold properties. It also explores for copper. The company holds interests in six operating mines in South Africa, Peru, Ghana, and Australia. It also has interests in the Granny Smith, Lawlers, and Darlot gold mines in Western Australia. The company has total gold mineral reserves of 64 million ounces and mineral resources of 155 million ounces.
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