Roxgold Announces Share Repurchase Program
Roxgold Inc. (TSX: ROXG) has announced a program to buy backshares. Specifically, Roxgold is implementing a “normal course issuer bid,”which has been accepted by the Toronto Stock Exchange, because the company“believes that from time to time the market price of Roxgold’s common sharesdoes not reflect the underlying value of the common shares.” The company saysit ended the first quarter with a cash balance of $72.2 million. “The NCIB willallow Roxgold to purchase common shares for cancellation if, in the opinion ofmanagement, the purchases can be made on terms which will enhance the value ofthe remaining outstanding common shares,” Roxgold says. The program will beginWednesday. Roxgold can purchase up to 10 million shares, representing 2.7% ofRoxgold’s outstanding shares).
By Allen Sykoraof Kitco News; asykora@kitco.com
Pan American Silver: Huaron Mine Shut Down By Blockade
Monday April 30, 2018 08:08
Operationsat Pan American Silver Corp.’s (NASDAQ: PAAS; TSX: PAAS) Huaron mine havebeen suspended since Tuesday due to road blockades by members of the nearby Huayllay community,the company reported just ahead of the weekend. “The community members havedemanded compensation from the company for alleged impacts to community land,as well as additional service contracts for construction work, haulage andmaterial supply to the mine,” Pan American said. The company added that it isactively involved in discussions with community members and is taking part in amediation process being led by the Social Affairs General Office of thePeruvian Ministry of Energy and Mines. The mine is located in Peru.
By Allen SykoraFor Kitco News
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