MT - Exploring Mining Podcast: News from (NYSE: GOLD) (NYSE: MT) (NYSE: KGC) (TSXV: ANTL)
Point Roberts, WA and Delta, BC - May 7, 2020 (Investorideas.com Newswire) Investorideas.com, a global investor news source covering mining and metals stocks releases today's edition of Exploring Mining Podcast, featuring stock news from TSX, TSXV, CSE, ASX, NASDAQ, NYSE companies plus interviews with CEO's and leading experts.
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Exploring Mining Podcast: News from (NYSE: GOLD) (NYSE: MT) (NYSE: KGC) (TSXV: ANTL)
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Barrick Gold Corporation (NYSE:GOLD) has announced its first quarter performance results. Highlights include an increase in operating cash flow to $889 million, free cash flow to $438 million, and a debt net of cash reduction of 17 percent from the previous quarter to $1.85 billion. Company President and CEO Mark Bristow said:
"Our sustainability and regional teams have done a great job in taking timely action to introduce comprehensive and carefully considered measures at all our sites and offices to manage and mitigate any impacts of Covid-19 on our employees and contractors. A key focus of this plan is on prevention, and all sites are working actively to head off an outbreak."
ArcelorMittal (NYSE:MT) has reported its first quarter 2020 results. Highlights include a reduced operating loss of $0.4 billion (compared to a loss of $1.5 billion in Q4 2019), and a marginal increase in net debt to $9.5 billion (down $1.7 billion from Q1 2019). Lakshmi N. Mittal, ArcelorMittal Chairman and CEO, commented:
"The remainder of this year will be challenging, but I am confident that ArcelorMittal has the experience, and inherent resilience, to manage through these difficult times. As a result of the hard work undertaken in recent years to strengthen the balance sheet, we went into the COVID-19 crisis with the lowest net debt since the creation of the Company, which is a matter of considerable comfort."
Kinross Gold Corporation (NYSE:KGC) has released results for its first-quarter ended March 31, 2020. Highlights include production of 567,327 attributable gold equivalent ounces, sales of 552,742 gold equivalent ounces, and net earnings of $122.7 million, which nearly doubled from Q1 2019. J. Paul Rollinson, President and CEO, said:
"During the quarter, we focused on protecting the health and well-being of our employees and communities against the spread of COVID-19 while maintaining the continuity of our operations in a safe manner. As a result of our business continuity plans and precautionary protocols implemented across our global portfolio, and with the support of our host governments, all our mines remained operational during the quarter and were not materially impacted by the pandemic. While we prudently withdrew our 2020 guidance given the pandemic's significant global impacts, we will continue to work safely on meeting our 2020 operational targets."
Antler Gold Inc. (TSXV:ANTL) has announced further consolidation of its land holdings for the Central Erongo Gold Project through the acquisition of the Exclusive Prospecting License EPL 6550. According to the press release, "EPL 6550 comprises 24.8km2 of prospective ground adjacent to the Osino Resources Gold Kuppe Project and covers a large geological dome structure." Dan Whittaker, President and CEO of Antler, explained:
"This acquisition adds to our prospective land package for the Central Erongo Gold Project. EPL 6550 contains the Etiro Dome and at least two significant historically outlined gold anomalies. The entire EPL represents an interesting target due to the interpreted importance these dome structures play in concentrating gold mineralizing fluids, as demonstrated by the Navachab and satellite deposits."
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