Dividend Updates from Barrick and B2 Gold; Cartier's New Resource Update from Chimo

After a very tough day for precious metals, we have a round of earnings to cover from some of the big producers, including dividend updates from Barrick and B2 Gold. Thank you for tuning in to Mining Stock Daily.

Welcome to Mining Stock Daily. 

Today is Wednesday, November 6th. 

This is Trevor Hall and I welcome you to today’s briefing. 

Gold was hammered as much as $27 on Tuesday after the open interest in paper gold contracts hit an all-time high on Monday.  For the record, the attack on the gold price occurred shortly after the a.m. price fix in London. The price take-down in the western gold derivatives markets will make the Indians happy, who were willing to pay as much as $10 above the world spot price on Monday before Tuesday's price ambush in the paper market. Silver was taken down well below $18.  The Mining Stock Journal commented that it does not expect this price attack to last must longer.

This episode of Mining Stock Daily is brought to you by Western Copper and Gold. 

Western Copper and Gold is focused on developing the world-class Casino project in Canada's Yukon Territory. The Casino project consists of an impressive 10 billion pounds of copper and 18 million ounces of gold in an overall resource. Western Copper and Gold trades on the TSX and the NYSE American with WRN. Be sure to follow the company via their website, www.westerncopperandgold.com.

B2 Gold announced its Board of directors  have declared the company’s first dividend of $.01 per common share and expects to declare future dividends quarterly at the same level. The company recorded a record quarterly consolidated gold production of 258,200 ounces, which included El Limon and La Libertad in Nicaragua, which has been sold to Calibre Mining. This production number is a 7% increase above it budget and a 7% over the same period last year. The company’s all-in sustaining costs from these continuing operations came in at $755 per ounce sold, a $10 discount to what was originally budgeted. B2 Gold trades on the TSX with the symbol BTO andon the NYSE with the symbol BTG. https://www.juniorminingnetwork.com/junior-miner-news/press-releases/743-tsx/bto/69313-b2gold-corp-announces-strong-third-quarter-and-year-to-date-2019-results-and-declares-its-first-quarterly-dividend.html

Barrick Gold says it is on track to deliver production at the higher end and costs at the lower end of its guidance range for the year. The company said Q3 results show net earnings of $1.30 per share, up 67% on Q2 on the back of a higher gold price. Barrick’s quarterly dividend has also increased to $.05 per share off the growth of cashflow. CEO Mark Bristow said the company plans on sharing a detailed five-year plan for each region this quarter and will be followed by a 10-year production plan to be included with the company’s next annual report. An in an interesting note in this morning’s press release, Bristow also mentioned the planned disposal of non-core assets was progressing as scheduled and was expected to realize $1.5 billion or more by the end of next year.  https://www.juniorminingnetwork.com/junior-miner-news/press-releases/315-nyse/gold/69324-increased-dividend-reflects-strong-operating-performance-and-significant-earnings-increase.html

SSR Mining reported strong 3rd quarter financial results as a significantly higher rate of gold extraction and a 13% increase in the average selling price for gold enabled the Company to nearly triply operating income from a year ago in Q3. SSRM is still on track to produce 400,000 gold-equivalent ounces this year. The Mining Stock Journal believes that SSR is one of the few undervalued, larger cap mining stocks.  The Company's shares trade under SSRM in the U.S. and on the TSX. https://www.juniorminingnetwork.com/junior-miner-news/press-releases/802-tsx/ssrm/69297-ssr-mining-reports-third-quarter-2019-results.html

FireFox Gold Corp says it has compled its scheduled Phase 2 drill program at its Mustajarvi Gold project in Finland. Assay results are pending. The drill rig is now at the Jeesio gold project to test the Utsamo area where up to three reconnaissance drill holes totally 350 meters will be drilled. . Both of these projects are situated in the heart of the Central Lapland Greenstone Belt in Finland. https://www.juniorminingnetwork.com/junior-miner-news/press-releases/2664-tsx-venture/ffox/69332-firefox-gold-initiates-its-first-drill-program-at-jeesioe-gold-project-finland.html

Yesterday, Cartier Resources published its first mineral resource estimate specifically for the Central Gold Corridor on the Chimo Mine property in Quebec. The estimate returned a total of just over 461,000 ounces of gold in the indicated resource category and over 417,000 ounces of gold in the inferred resource category. The estimate of the resources of the North Gold Corridor and South Gold Corridor are underway, as well as more exploration drilling which will begin later this month. Cartier Resources trades on the Toronto Venture Exchange with ECR and on the OTC markets with ECRFF. https://www.juniorminingnetwork.com/junior-miner-news/press-releases/371-tsx-venture/ecr/69268-cartier-publishes-its-first-mineral-resource-estimate-of-the-central-gold-corridor-on-the-chimo-mine-property.html

Brixton Metals announced this morning a non-brokered private placement financing of up to $3 million through the issuance of any combination of common shares of the company flow-through shares and charitable flow-through shares. CEO Gary Thompson said in this morning’s press release that while the company anticipates ending the year with more than $3 million in cash, the financing will allow them to effectively plan for their 2020 exploration programs. The financing is expected to close at the end of the month. https://www.juniorminingnetwork.com/junior-miner-news/press-releases/833-tsx-venture/bbb/69336-brixton-metals-announces-private-placement-of-up-to-3-000-000.html

And that’s it for today on Mining Stock Daily. Please be sure to take a quick moment to subscribe to this podcast if you have not already. And while doing so, feel free to leave a review. I greatly appreciate your feedback. As we approach the end of the  year, I’ll be focusing on new ways to improve the show. So your feedback if very important to us. 

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