Point Roberts, WA and Delta, BC - April 23, 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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https://www.investorideas.com/Audio/Podcasts/2020/042320-Mining.mp3
Exploring Mining Podcast: News from (NYSE: AA) (NYSE: CDE) (TSXV: ECC) (TSXV: VIO) (TSXV: ANTL)
Alcoa Corporation (NYSE:AA) has released its first quarter 2020 results. Highlights include a net income of $80 million, amounting to $0.43 per share, which represents an improvement over the net loss of $303 million, or $1.63 per share, seen in the company's fourth quarter of 2019. Speaking about the company's responses to the Coronavirus pandemic, Alcoa President and CEO Roy Harvey said:
"We took action before this crisis to drive savings by deploying a new operating model and launching processes to sell non-core assets, review our portfolio, lower production costs and reduce working capital. Today, we are announcing new actions to effectively manage cash through the economic uncertainty from the pandemic. Taken together, these new and existing initiatives, including the sale earlier this year of our former Gum Springs plant, will total $900 million in cash actions for the year.
"We know how to manage through downcycles, and we've used our strategic priorities to strengthen our company, creating a stronger foundation to address these challenges."
Coeur Mining, Inc. (NYSE:CDE) has reported its first quarter 2020 financial results. Notably the company reported "revenue of $173.2 million, cash flow from operating activities of $(8.0) million and GAAP net loss from continuing operations of $11.9 million, or $0.05 per share." The company's President and CEO Mitchell J. Krebs explained Coeur Mining's response to the Coronavirus pandemic:
"Our top priority as we navigate the COVID-19 situation continues to be the health, safety and well-being of our workforce, their families, and the communities where we operate. We have put stringent controls and procedures in place throughout the Company focused on (i) controlling and limiting access to our sites, (ii) screening employees and visitors at entrance points, (iii) reducing exposure risk through a range of social distancing protocols as well as proactive sanitizing and cleaning procedures, and (iv) mandating all office personnel work from home. We have also implemented travel restrictions and reporting requirements for all of our employees."
Ethos Gold Corp. (TSXV:ECC) and Société d'exploration minière Vior Inc. (TSXV:VIO), through their earn-in agreement, have announced the results of their diamond drilling campaign completed between late October, 2019 and mid-February, 2020 at the Ligneris gold project in Quebec. Some highlights include:
Significant grades of silver and base metals reaching up to 10.1 g/t Ag and 0.18% Cu over 9.0 meters (drilling LI-19-06) and 26.4 g/t Ag and 0.43% Zn over 5.0 meters (hole LI-19-07) were intersected in the Central zone
Antler Gold Inc. (TSXV:ANTL) has provided an exploration update for its Erongo Project in central Namibia. Antler's President and CEO Dan Whittaker explained:
"We are very pleased to have made significant progress on our Erongo Project during this unprecedented time. We have several high priority targets to follow up on and eagerly await further information from the ongoing work on the Central Project which contains the southwest extension of a known mineralized trend. The safety and security of our employees, contractors and consultants is paramount and we are assured all are following the necessary and recommended procedures. We are also working closely with the Ministry of Mines and Energy and the Chamber of Mines in Namibia regarding the status of national health directives."
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