Franco-Nevada Reports Third-Quarter Profit
Royalty and streaming company Franco-Nevada (NYSE, TSX: FNV) reportsthird-quarter adjusted net income of $54.6 million, or 29 cents a share, downfrom $55.3 million, or 30 cents, in the same period a year ago. Net income camein at $52.1 million, or 28 cents a share, compared to $60 million a year ago.Franco-Nevada reports sales of 120 million gold-equivalent ounces in the thirdquarter, down modestly from 123.8 million in the year-ago period. The company made the final installment on a $1 billionfunding commitment for the Cobre Panama project, reports David Harquail, chiefexecutive officer. “Revenues are expected to increase by more than 30% onceCobre Panama ramps up towards full production, Candelaria returns to normaloperations, and with the continued development of our U.S. oil & gasassets, we are also pleased to again increase our oil & gas revenueguidance for 2018,” he says. Franco-Nevada says it now expects to generate $75million to $85 million in revenue from oil and gas for 2018, up from updatedguidance in August of $65 million to $75 million. The board of directorsdeclared a quarterly dividend of 24 cents per share to be paid on Dec. 20 toshareholders of record on Dec. 6.
By Allen Sykoraof Kitco News; asykora@kitco.com
Hecla Reports On Largest-Ever Quarterly Exploration Program
Tuesday November 06, 2018 08:18
Hecla Mining Co. (NYSE: HL) says it undertook the largestquarterly exploration program in company history during the third quarter. Thecompany reports up to 20 drills at 10 properties and five operating mines, allin North America. Reserve price assumptions to determine this year’s reservesare $14.50 an ounce for silver, $1,200 an ounce for gold, $1.15 a pound forzinc and 90 cents a pound for lead, which are all at or below current spotprices and about the same as last year. Data on new reserves and resources willbe provided in first quarter, Hecla says. The company says it has achieved anumber of successes, including Hollister, where new mineralization wasidentified. “While exploration expense will be less in the fourth quarter, itis not for lack of good results,” says Phillips S. Baker, Jr., president andchief executive officer. “All of Hecla’s programs this year had success thatwill justify follow-up in the future. But our focus in the fourth quarter willbe at our Nevada operations and San Sebastian as we work towards the sort ofmine life that we have at Greens Creek and Casa Berardi.”
By Allen Sykoraof Kitco News; asykora@kitco.com
Alacer: First Ore Processed Through Sulfide Plant
Tuesday November 06, 2018 08:18
Alacer Gold Corp. (TSX:ASR; ASX: AQG) announces processing of the first sulfide ore through its
sulfide plant. “We can now confidently say the????pler Mine will deliver tremendous value for many years to come,” says Rod Antal, president and chief executiveofficer. “We look forward to providing updates on the performance of thesulfide plant over the course of the coming year." Commercial productionis expected in early 2019, the company reports.
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