Lake Shore Gold Has Run Too Far
Ben Kramer-Miller • 14 Comments
Ben Kramer-Miller • 14 Comments
Lake Shore Gold - Sunshine After Rain
The Investment Doctor
The Investment Doctor
Mon, Apr. 4, 11:40 AM
- Tahoe Resources (TAHO +0.1%) says it completed its acquisition of Lake Shore Gold (NYSEMKT:LSG) and provides 2016 production guidance for the combined company.
- TAHO says the combined company ended 2015 with pro forma cash and equivalents of $179.3M; excluding debt related to LSG's convertible debentures, pro forma net cash at year-end was $115.8M.
- TAHO says FY 2015 pro forma cash flow from operations totaled $243.8M, or $148M net of sustaining capital.
- For 2016, TAHO forecasts the combined company to produce 370K-430K oz. of gold at total cash costs of $675-$725/oz. and all-in sustaining costs of $950-$1,000/oz., and maintains previous guidance for silver production of 18M-21M oz.
- Now read Tahoe Resources: Free cash flow positive, but will Lake Shore Gold shareholders be happy?
Wed, Feb. 24, 7:07 AM
Mon, Feb. 22, 9:19 AM
Mon, Feb. 8, 9:19 AM
Mon, Feb. 8, 8:57 AM
- Lake Shore Gold (NYSEMKT:LSG) +9.3% premarket after agreeing to be acquired by Tahoe Resources (NYSE:TAHO) in an all-stock deal valued at ~C$945M.
- TAHO will pay 0.1467 of its stock for each LSG share, which works out to C$1.71, a 14.8% premium to LSG shares, based on both stocks' Friday close; the companies say the deal has an implied equity value of C$945M, assuming the conversion of some debentures.
- The deal adds LSG's low-cost gold Timmins West and Bell Creek mines in Timmins, Ontario, to TAHO's portfolio, which already includes the Escobal mine in Guatemala and two mines in Peru.
- The combined company is expected to produce 370K-430K oz. of gold in 2016 at total cash costs of $675-$725/oz. and all-in costs of $950-$1,000/oz.
- TAHO -2.7% premarket.
Oct. 29, 2015, 6:35 AM
- Lake Shore Gold (NYSEMKT:LSG): Q3 EPS of $0.00 in-line.
- Revenue of $63M (-0.8% Y/Y) misses by $1.2M.
Jul. 30, 2015, 6:41 AM
- Lake Shore Gold (NYSEMKT:LSG): Q2 EPS of $0.00
- Revenue of $67.44M (-10.2% Y/Y)
Jun. 25, 2015, 3:16 PM
- Lake Shore Gold (LSG +3.6%) says it made a second gold discovery in less than a year at its 144 exploration area, based on results from an additional 25 drill holes and two wedge holes.
- LSG says its success in drilling along the TC-144 trend continues to identify areas for potential future resource growth within the Timmins West Complex, and continues to support its belief that the TC-144 is host to multiple gold deposits that can establish Timmins West as a major gold mining center.
Jun. 8, 2015, 12:49 PM
- Lake Share Gold (LSG +2.4%) is upgraded to Outperform from Underperform with a $1.80 price target, raised from $1.10, at RBC, which says LSG is generating free cash flow at $1,200/oz. gold and forecasts sufficient cash to repay the $103.5M convertible debenture due in 2017.
- RBC also says LSG's 144 Zone exploration success could extend the reserve life materially, and the firm expects the shares to continue to outperform its peers.
Apr. 29, 2015, 6:33 AM
- Lake Shore Gold (NYSEMKT:LSG): Q1 EPS of $0.03
- Revenue of $79.1M (+28.7% Y/Y)
Mar. 26, 2015, 6:00 AM
- Lake Shore Gold (NYSEMKT:LSG): Q4 EPS of $0.01
- Revenue of $56.08M (-14.8% Y/Y)
Jan. 7, 2015, 9:59 AM
- Lake Shore Gold (LSG +2.1%) says it achieved record annual gold production in 2014 of 185.6K oz., exceeding its 160K-180K target range for the year.
- Mill throughput totaled nearly 1.25M metric tons at an average grade of 4.8 grams/metric ton; a total of 186.5K oz. of gold was poured, while gold sales totaled 183.3K oz. at an average selling price of US$1,269/oz.
- LSG says it repaid the remaining $20M owing on a standby line of credit; following the repayment, cash and bullion at year-end 2014 totaled $60M, vs. $34M a year ago.
Oct. 29, 2014, 11:58 PM
- Lake Shore Gold (NYSEMKT:LSG): Q3 Net Income of C$7.9M
- Revenue of C$63.52M (+43.4% Y/Y)
Oct. 3, 2014, 12:45 PM
Oct. 3, 2014, 11:24 AM
- Among a number of rating changes made by RBC today, the team throws in the towel on its Outperform call on Kincross Gold (KGC -4.1%), downgrading to Sector Perform and cutting the price target to $4.50 from $5.50. Also downgraded is Lake Shore Gold (LSG -7.6%) - to Underperform from Sector Perform.
- Getting a little help from an upgrade as gold tumbles below $1,200 per ounce, is AuRico Gold (AUQ -0.3%) - now an Outperform thanks to attractive valuation, declining costs, and lower capital intensity. Also upgraded to Outperform is Fresnillo (OTCPK:FNLPF -8.3%), while Newmont Mining (NEM -1.3%) is boosted to Sector Perform from Underperform.
- The GDX is down 3.1% on the session.
- Previously: Stocks and dollar higher, bonds and gold lower following jobs number
- ETFs: GDX, GDXJ, NUGT, DUST, JNUG, GLDX, JDST, RING, GGGG, SGDM, PSAU
Jul. 31, 2014, 6:36 AM
- Lake Shore Gold Corp (NYSEMKT:LSG): Q2 EPS of $0.03
- Revenue of $75.1M (+89.2% Y/Y)
Lake Shore Gold Corp. is a gold mining company, which is engaged in the exploration and development of gold properties in Timmins, Ontario. The company's projects include Timmins West, Bell Creek, Bell Creek Mill and Fenn-Gib. Lake Shore Gold was founded on July 7, 1987 and is headquartered in... More
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