CORAL SPRINGS, Florida, May 1, 2014 /PRNewswire/ --
Precious metals companies make strides to boost operations & outlook: DNA Precious Metals, Inc. (OTC: DNAP), Goldcorp Inc. (NYSE: GG), Barrick Gold Corporation (NYSE: ABX), Newmont Mining Corporation (NYSE: NEM) and Yamana Gold, Inc. (NYSE: AUY)
DNA Precious Metals, Inc. (OTCQB: DNAP) today announced the completion of a $500,000 finance credit facility ("Facility") from a Chicago-based private equity fund to assist in the funding of the production facility for the processing of the Anacon Lead mining residues located on the Montauban Mine Property. The Company received the first $250,000 in funding this week.
The Facility stipulates an interest rate of 10% and is repayable within twenty-two (22) months.
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On February 28, 2014, DNA Precious Metals received approval, from the Quebec Provincial Government's Ministry of Natural Resources ("MRN") for the Restoration Plan on the Montauban Mine Property which will be implemented subsequent to the Company's processing of the mining residues on the site. On March 13, 2014, the Company received another Certificate of Authorization, also from the Quebec Provincial Government's Ministry of Sustainable Development, Environment, Wildlife and Parks ("MDDEFP"), with respect to operating a cyanide closed-circuit system to process the mining residues located on the Montauban Mine Property. Management believes that this additional permit will enable DNA to achieve recovery rates from existing metal grades of up to 92% for gold and 77% for silver.
Goldcorp Inc. (NYSE: GG) engages in exploration of gold and other minerals. The company is engaged in the operation, exploration, development and acquisition of precious metal properties in Canada, U.S., Mexico and Central and South America. Its projects include Cochenour, Éléonore, Dee JV/South Arturo, Pueblo Viejo, Cerro Negro, Cerro Blanco, El Morro, Noche Buena and Camino Rojo. On Tuesday, GG closed down .52% on over 2.6 million shares traded.
Barrick Gold Corporation (NYSE: ABX) recently reported first quarter net earnings of $88 million ($0.08 per share). Adjusted net earnings were $238 million ($0.20 per share). Operating cash flow and adjusted operating cash flow was $585 million. "Barrick is a considerably different company today than it was a year ago - leaner, stronger and more financially flexible. Our first quarter all-in sustaining costs of $833 per ounce, $100 per ounce below the prior year quarter, demonstrate that our efforts to reduce costs are delivering tangible results," said Jamie Sokalsky, Barrick's President and CEO.
Newmont Mining Corporation (NYSE: NEM) recently released results of the Company's Annual Meeting of Sockholders held on April 23, 2014. The following matters were voted upon at the meeting: (1) the election of Directors; (2) the ratification of the appointment of PricewaterhouseCoopers LLP as the Company's independent auditors for 2014; (3) the advisory vote on the compensation of the Named Executive Officers; and (4) a stockholder proposal regarding additional disclosure on political spending. The advisory vote on the compensation of Named Executive Officers ("Say on Pay") allows stockholders to express their opinions regarding the decisions of the Compensation Committee on the prior year's compensation to Named Executive Officers. The proposal asked stockholders to evaluate whether the Company's executive compensation program is well-designed, appropriately aligns executive pay with Company performance and incentivizes desirable behavior. The measure was approved by a vote of 90 percent.
Yamana Gold, Inc. (NYSE: AUY) announced the results of the updated feasibility study for the Cerro Moro project located in Santa Cruz province of Argentina. The Company acquired Cerro Moro in August 2012 and subsequently updated the existing feasibility to ensure consistency with the Company's stated focus on cash flow generation and disciplined capital allocation. Key highlights include: annual production of 150,000 gold equivalent ounces ("GEO") for the life of mine ("LOM"), LOM cash costs of $352 per GEO; all-in sustaining cash costs ("AISC") of $525 per GEO, throughput rate of 700 tonnes per day ("tpd") and initial capital expenditure of $126 million.
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