Wed, May 6, 7:03 AM
Wed, Apr. 8, 5:46 PM
- McEwen Mining (NYSE:MUX) fell 5.6% in today's trade after yesterday's news that 900 kg of gold-bearing concentrate containing 7K oz. of gold - ~$8.4M in potential revenue - was stolen from its refinery in Mexico's Sinaloa state.
- Armed robberies of significant quantities of gold are not common, but operators in northern Mexico have been targeted in the past as the region is associated with cartels and gangs.
- The robbery raises concerns about other companies with exposure in northern Mexico, which include AGI, AUQ, CDE, PPP and TGD; among those with operations nearby are GG, PAAS, GPL, OTCPK:FNLPF and OTCQX:SMNPF.
Thu, Apr. 2, 10:59 AM
- Primero Mining (PPP -2.8%) CEO Joe Conway says a fix is within reach for the company's troublesome Black Fox gold mine in Ontario, and expects to show signs of improved performance at the mine this year.
- Once Black Fox is running smoothly, PPP will be eyeing potential acquisitions, Conway says.
- "Black Fox really drives the bus” in terms of expectations for the share price, says a Dundee Capital analyst, who adds, “It looks like the worst has passed."
- PPP forecasts gold production at Black Fox will rise to ~80K gold equiv. oz/year in 2015 from 73K last year; its San Dimas mine in Mexico should produce 180K oz. in 2015, although Conway says Black Fox has the potential to become "another San Dimas” as the company explores deeper.
Thu, Feb. 12, 7:09 AM
Mon, Feb. 2, 7:39 AM| Comment!
Nov. 6, 2014, 7:09 AM
Nov. 5, 2014, 11:38 AM
- Spot gold skids to its lowest since April 2010 at $1,137/oz., below production costs for seven of 19 mining companies tracked by Bloomberg, including Harmony Gold (HMY -1.8%) and Primero Mining (PPP -2%).
- Harmony Gold said in its Q3 earnings report that all-in sustaining costs were $1,245/oz., while Primero reported all-in sustaining costs of $1,228; the most recent data from DRDGold (DRD -6.3%), AuRico Gold (AUQ +0.6%), Golden Star Resources (GSS +0.1%) and Alamos Gold (AGI -0.5%) also show costs higher than current prices.
- Maison Placements Canada brokerage's John Ing says a "two-tier type of market" is developing, where one tier of companies having solid assets and lower costs and another group saddled with high-cost operations and stretched balance sheets.
- ETFs: GDX, GDXJ, NUGT, DUST, SIL, JNUG, GLDX, JDST, SLVP, SILJ, RING, SGDM, PSAU
Oct. 17, 2014, 9:17 AM
- Richmont Mines (NYSEMKT:RIC) appoints Renaud Adams as its President and CEO effective Nov. 15, replacing interim President/CEO Elaine Ellingham.
- Adams brings 20 years of mining experience to RIC, and most recently served as President and COO at Primero Mining (NYSE:PPP), where his resignation was announced late yesterday.
Sep. 15, 2014, 12:48 PM
Sep. 15, 2014, 10:44 AM
- Primero Mining (PPP +5%) says it expects to produce 220K-240K gold equiv. oz. at cash costs of $675-$725/oz. in 2014, a modest decrease in production and a modest increase in costs compared to previous estimates.
- PPP slightly lowers production guidance for its recently acquired Black Fox complex in Ontario to 65K-75K oz. from a previous outlook for 70K-80K, at unchanged cash costs of $850-$900/oz., with all-in sustaining costs increasing to $1,400-$1,450/oz.
- PPP also says new high-grade drilling results further expand the known mineralization at depth at Black Fox and provide additional confidence in the Grey Fox project.
Aug. 7, 2014, 7:06 AM
Mar. 13, 2014, 12:36 PM
- Primero Mining (PPP +9.2%) says it has successfully produced its annual threshold of 3.5M oz. of silver from the San Dimas mine, and will now begin selling an estimated 1.25M-1.5M oz. of silver, 50% of the silver produced at San Dimas, at spot prices for its own account until Aug. 5.
- PPP assumed the silver purchase agreement when it acquired San Dimas in 2010, which was renegotiated for PPP to participate in the silver produced above the annual threshold amount.
Mar. 5, 2014, 4:54 PM
- Primero Mining (PPP) announces a secondary offering of ~31.15M shares by Goldcorp (GG), which represent 19.8% of PPP's issued and outstanding common shares (following PPP's acquisition of Brigus Gold, completed earlier today).
- GG will not own any PPP common shares after the offering; PPP will receive no proceeds from the offering.
- PPP halted.
Mar. 3, 2014, 9:55 AM
- Gold futures are surging in the wake of the crisis in Ukraine, and that's giving precious metals miners a big boost in early trading.
- AU +5.2%, GOLD +5%, GFI +4.6%, MUX +4.1%, BVN +3.9%, MVG +3.6%, SSRI +3.3%, IAG +3.2%, BTG +3.1%, HMY +3.1%, EXK +3.1%, ABX +2.8%, AUY +2.8%, SA +2.8%, SLW +2.7%, GG +2.7%, NEM +2.6%, HL +2.6%, KGC +2.3%, AGI +2.2%, AG +1.9%, NG +1.9%, PPP +1.8%, AUQ +1.6%, PAAS +1.2%, NGD +1%.
- ETFs: GDX, GDXJ, NUGT, DUST, SIL, GLDX, JNUG, SLVP, RING, SILJ, GGGG, JDST, PSAU
Feb. 21, 2014, 10:19 AM
- Gold miners already have recouped YTD more than a third of what they lost last year, and basic materials investor Malcolm Gissen thinks the rally may have a lot more room to run.
- The co-manager of the Encompass Fund says it’s a great time to invest in gold miners; there’s a jump in merger activities in the sector as well as hostile takeover attempts, which be a sign that higher gold prices are ahead.
- Adam Koos of Libertas Wealth Management prefers to wait to see a base creation and then breakout above bearish resistance lines and moving averages; when that happens, he likes AuRico Gold (AUQ) and Franco-Nevada (FNV).
- Gissen suggests investors dip a toe in the water by buying some of the growing intermediate producers such as Primero Mining (PPP); among the larger producers, Goldcorp (GG) looks most attractive because of the projects it has and the cash flow it will generate this year.
- ETFs: GDX, GDXJ, NUGT, DUST, GLDX, JNUG, RING, GGGG, JDST, PSAU
Feb. 14, 2014, 9:13 AM
PPP vs. ETF Alternatives
Other News & PR