Wednesday, July 18, 2018

Detour Gold Corp. - DGC.t

Detour Gold Corp. - DGC.t is advancing the flagship Detour Lake deposit.

With 15.8 million ounces in reserves, Detour Lake is the second largest gold producing mine in Canada with the largest gold reserves.


Click
Michael Kenyon


On July 18, 2018 the media released News
Paulson & Co. Inc. ("Paulson"), one of the largest institutional investors in Detour Gold Corporation (TSX:DGC) ("Detour Gold" or the "Company") provided the following in response to this afternoon’s false and misleading communication from Detour Gold, where it made allegations that are proven incorrect by the facts:
“We were in contact with the OSC prior to the issuance of our press release from earlier today and provided it with the unsolicited written communication, disclosing the non-public information, from Michael Kenyon. We also provided the request we made to Detour’s board to disclose this information to all shareholders. The actions of the Company’s board and management are without precedent, as they continue to waste corporate assets and act in a manner that is not in the best interest of the Company or shareholder interests. Paulson will continue to assert and defend shareholder rights and will support any investigation by the OSC. In addition, Paulson wants to make it clear that, given the sub-par performance of the Company, we initially asked that the Company explore strategic alternatives. This would be in parallel with the execution of the life-of-mine plan and would include a sale process to see if fair value can be received for shareholders expeditiously."
A copy of the correspondence received from Detour Gold, including the unsolicited written communication to Paulson selectively disclosing non-public information that the Company had been approached by a major gold mining company interested in potentially acquiring it, will be available on SEDAR and can be obtained from MacKenzie Partners at paulsonco@mackenziepartners.com.
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On July 18, 2018 the Co released News

DETOUR GOLD ALERTS MARKET TO POTENTIAL SECURITIES VIOLATION BY PAULSON AND CO.; ADDRESSES HIGHLY MISLEADING PAULSON PRESS RELEASE
Earlier this morning, Detour Gold Corp. notified the Ontario Securities Commission of concerning and unlawful behaviour undertaken by Paulson and Co. and has asked the OSC to investigate. This action took place prior to Paulson's ill-timed press release this afternoon. Paulson, in a desperate attempt to resuscitate its flailing reputation in the mining industry, has once again misinformed the investment community. This is not the first time, unfortunately, that Paulson has done so. Over the past several weeks, Paulson has run an aggressive and self-serving agitation campaign against Detour Gold with the sole objective of bullying the company into an ill-timed fire sale. The company does not have a sale process in place, nor has it received any offers to purchase its shares and remains focused on the life-of-mine plan, while remaining open (as it has been historically) to value-accelerating opportunities. Earlier this morning, Detour Gold made a complaint to the OSC about Paulson's continued misleading statements. The company believes Paulson's actions constitute serious misconduct under securities laws.
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On July 18, 2018 the media released News

PAULSON & CO. PROVIDES UPDATE ON DETOUR GOLD CORPORATION

Paulson & Co. Inc., one of the largest institutional investors in Detour Gold Corp., will move forward with its efforts to replace a majority of the Detour Gold board of directors with new highly qualified, independent nominees committed to exploring all strategic alternatives including a potential sale of the company. Last Friday, Michael Kenyon, interim chief executive officer of Detour Gold, sent an unsolicited written communication to Paulson, selectively disclosing non-public information that the company has been approached by a major gold mining company interested in potentially acquiring it. As part of the communication, Detour Gold stated it would only sign a confidentiality agreement with the interested party only if both the party and Paulson agreed to a standstill, even though Paulson has no affiliation with the major mining company. In light of such approach, Paulson requested that the company's board immediately disclose such material to all shareholders and the investing public

















http://canadastockjournal.blogspot.com/2016/01/detour-gold-corp-dgct.html

Tuesday, July 17, 2018

Nevsun Resources Ltd. - NSU.t

Nevsun Resources Ltd. - NSU.t operates the flagship Bisha Mine in Eritrea, East Africa. The Bisha deposit is a large, high-grade volcanogenic massive sulphide (VMS) producing Gold, Silver, Copper and Zinc.

Total reserves are about 22mt giving an expected mine life into 2025.

On July 16, 2018 the company released News

Lundin Mining Corp. intends to make a formal offer to acquire all of the issued and outstanding common shares of Nevsun Resources Ltd. for cash consideration of $4.75 (Canadian) per share. The offer price represents a significant premium of 82 per cent to the closing price of $2.61 (Canadian) on Feb. 6, 2018, the date of the first offer to Nevsun related to Lundin's interest in acquiring Timok. This is a 33-per-cent premium to the closing price of $3.58 (Canadian) per share on the Toronto Stock Exchange as of April 30, 2018, the date of Lundin Mining's previously announced prior proposal to Nevsun, and a 40-per-cent premium to the volume weighted average trading price of $3.35 (Canadian) per share on the TSX over the 20 trading days ended April 30, 2018. The offer price values Nevsun at an equity value of approximately $1.4-billion (Canadian) ($1.1-billion USD).












http://canadastockjournal.blogspot.com/2016/10/nevsun-resources-ltd-nsut.html


Monday, July 16, 2018

Guyana Goldfields Inc - GUY.t

Guyana Goldfields Inc - GUY.t flagship is the Aurora Gold Project in Guyana which achieved first gold production in 2015.

2018 production and cost guidance is 175,000 – 185,000 ounces of gold produced at a cash cost of US$535-$585 per ounce (excluding royalty) with AISC of US$945-$995.

On July 16, 2018 the company released News

Guyana Goldfields Inc. (TSX: GUY) (or "The Company") announces that gold production from mining operations at its Aurora Gold Mine totalled approximately 28,250 ounces poured (31,300 ounces recovered) for the second quarter ended June 30, 2018. The Company sold 31,700 ounces of gold at an average realized gold price of US$1,300 per ounce, generating gross second quarter revenues of US$41.2 million.

Full second quarter 2018 operational and financial results will be released after-market on Monday, July 30, 2018. A conference call will be held the following morning on Tuesday, July 31, 2018 at 10:00 am ET to discuss the results and details of the call can be found at the end of this release. All amounts are expressed in U.S. dollars unless otherwise stated. In the second quarter ended June 30, 2018, the mill processed a new record average of 7,100 tonnes per day ("tpd") of ore at an average head grade of approximately 1.65 grams per tonne gold with gold recoveries averaging of 91.4% for the quarter (June recovery 93%).