Lundin Mining Corporation - LUN.t

Lundin Mining Corporation - LUN.t is a diversified base metals mining company with operations and projects in Portugal, Sweden, Spain and the U.S.A producing copper, zinc, lead and nickel. Lundin Mining holds a 24% equity stake in the world-class Tenke Fungurume copper/cobalt mine in the DRC.

On March 3, 2016 the company reported NEWS

Lundin Mining Corporation (TSX:LUN) (OMX:LUMI) ("Lundin Mining", "Lundin" or the "Company") is pleased to announce that it has entered into a purchase agreement with an affiliate of Freeport-McMoRan Inc. ("Freeport") to purchase an interest in Freeport's stake in the Timok project located in Serbia. The high grade copper-gold Cukaru Peki deposit is situated on one of the four mineral licenses comprising the Timok project. The project partners are currently Freeport, who is operator of the project, and an affiliate of Reservoir Minerals Inc. ("Reservoir") which holds a minority stake in the project and has certain transfer rights as a result of the proposed transaction.Total consideration of up to US$262,500,000 is payable in stages upon the achievement of key development milestones defined under the purchase agreement, as more particularly described below.
The transaction is subject to Reservoir's right of first offer ("ROFO"), as well as other customary closing conditions. Prior to entry into the purchase agreement, a ROFO notice was provided today by Freeport to Reservoir, and is open for acceptance by Reservoir for 60 days from the receipt of notice. If the ROFO is not exercised by Reservoir, the transaction is expected to close in the second quarter of 2016.
Mr. Paul Conibear, President and CEO commented, "The acquisition of an interest in the Timok project is consistent with our growth criteria that we have rigorously followed over the last few years. This high quality copper/gold project fits ideally within our overall asset base of operations in the Americas and Europe. This transaction enables the existing Freeport/Reservoir partnership to leverage our proven underground base metals development, construction and operating skill sets to advance the Timok project into operation in a timely manner. The Timok project is expected to enhance the Company's long term copper growth pipeline, while preserving our strong balance sheet. We are very pleased to be able to extend our partnership with Freeport and we intend to advance a meaningful and cooperative relationship with Reservoir to the benefit of all stakeholders including those in Serbia."
Transaction Terms
Under the purchase agreement, and subject to Reservoir's ROFO, Lundin will acquire (1) 100% of Freeport's interest in the upper zone of the Cukaru Peki deposit which is characterized by high grade massive and semi-massive sulphide mineralization (the "Upper Zone"), as well as Freeport's interest in all the mineral licenses comprising the Timok project, and (2) 28% of Freeport's interest in the lower zone of the Cukaru Peki deposit which is characterized by porphyry-style mineralization (the "Lower Zone"). Freeport will retain the remaining interest in the Lower Zone. In addition, Freeport has the option to have any new large mineral deposit containing at least four million tonnes of contained copper equivalent characterized in the same manner as the Lower Zone upon the payment to Lundin of two times drilling, study and other similar costs plus other direct costs such as land acquisition costs.
As part of the transaction, Lundin will be appointed as operator of the Timok project until the occurrence of certain events and Lundin will advance the development of both the Upper Zone and the Lower Zone in accordance with approved budgets and work programs. Lundin will have the sole right to propose budgets and work programs relating to the Upper Zone and for certain agreed Lower Zone work, and Freeport will have the sole right to propose budgets and work programs relating to the Lower Zone, subject to specified exceptions.
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http://canadastockjournal.blogspot.com/2016/03/lundin-mining-corporation-lunt.html

New Gold Inc. - NGD.t

New Gold Inc. - NGD.t is an intermediate gold mining company with a portfolio of four producing assets and two significant development projects. The company produced 435,718 ounces in 2015 at AISC of $ 809 per oz.

On March 21, 2016 the company reported NEWS

New Gold Inc. ("New Gold") (TSX:NGD) (NYSE MKT:NGD) announces that the company has filed its management information circular, including the nominees for election to New Gold's board of directors.

The director nominees include Ian Pearce, a proposed new independent director. Mr. Pearce has over 25 years of experience in the mining industry. From 1993 to 2003, Mr. Pearce held progressively more senior engineering and project management roles with Fluor Inc. From 2003 to 2006, he held executive roles at Falconbridge Limited, including Chief Operating Officer, and he subsequently served as Chief Executive Officer of Xstrata Nickel, a subsidiary of Xstrata plc, from 2006 to 2013. Mr. Pearce is currently a partner of X2 Resources, a private partnership focused on building a mid-tier diversified mining and metals group.

The nominees also include Robert Gallagher, New Gold's President and Chief Executive Officer. As previously announced, Mr. Gallagher will be retiring as an officer of New Gold on June 30, 2016. Mr. Gallagher, currently a director of New Gold, intends to continue as a director of the company following his planned retirement.

Pierre Lassonde, currently a director of the company, will not be standing for re-election at the meeting. Since joining the New Gold board in June 2008, Mr. Lassonde has made a significant and highly valued contribution to the development and success of New Gold. On July 30, 2015, Mr. Lassonde was appointed as Chair of the Board of Directors of the Canada Council for the Arts, Canada's national public arts funder.

"My retirement from the New Gold board will allow me to devote more time to my responsibilities with the Canada Council for the Arts as well as other philanthropic causes," stated Mr. Lassonde. "I have greatly enjoyed working with the board and management of New Gold over the past eight years. I am very excited about New Gold's future, including the ongoing construction of the Rainy River mine. I will remain a strong supporter of the company and look forward to continuing as a significant shareholder of New Gold."

__________________________________ On February 17, 2016 the company reported NEWS

" New Gold Inc. ("New Gold") (TSX:NGD) (NYSE MKT:NGD) today announces its 2015 fourth quarter and full-year financial results, provides an update on its portfolio of development projects, including Rainy River and the results of the New Afton C-zone feasibility study, and updates its year-end mineral reserve and resource estimates. The company previously announced its preliminary 2015 operational results and 2016 guidance on January 20, 2016.
2015 FULL-YEAR HIGHLIGHTS

• Record full-year gold production of 435,718 ounces, exceeded the guidance range of 390,000 to 430,000 ounces and delivered a 15% increase in production over 2014
• All-in sustaining costs⁽¹⁾ of $809 per ounce, including total cash costs⁽²⁾ of $443 per ounce
• Cash generated from operations of $263 million relative to $269 million in 2014
• Cash generated from operations before changes in non-cash operating working capital⁽³⁾ of $265 million compared to $310 million in the prior year
• Adjusted net loss⁽⁴⁾ of $11 million, or $0.02 per share
• Net loss of $201 million, or $0.40 per share, including a $99 million non-cash, after-tax loss associated with the company's sale of its 30% interest in the El Morro project
• Year-end cash balance of $336 million

2015 FOURTH QUARTER HIGHLIGHTS

• Record quarterly production with 131,719 ounces of gold and 29 million pounds of copper
• Record low all-in sustaining costs⁽¹⁾ of $613 per ounce, including total cash costs⁽²⁾ of $389 per ounce
• Cash generated from operations increased by 21% to $85 million compared to $70 million in the fourth quarter of 2014
• Cash generated from operations before changes in non-cash operating working capital⁽³⁾ of $77 million relative to $70 million in the fourth quarter of 2014
• Adjusted net earnings⁽⁴⁾ of $3 million, or $0.01 per share
• Net loss of $10 million, or $0.02 per share

DEVELOPMENT PROJECTS

• Rainy River remains on schedule for mid-2017 production start with total estimated development capital of $877 million at the company's updated 2016 guidance exchange rate assumption of C$1.40/US$
• New Afton C-zone feasibility study completed, which demonstrates the potential to extend the mine's life by over five years

MINERAL RESERVES AND RESOURCES

• 2015 year-end mineral reserves of 15.0 million ounces of gold, 1.2 billion pounds of copper and 76 million ounces of silver
• New Afton's gold and copper mineral reserve estimates increased by 62% and 42%, respectively, with the addition of the C-zone to the mine's reserves

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http://canadastockjournal.blogspot.com/2013/05/new-gold-inc-ngdt.html

FOR SALE: Lightly Used Porsche 918 Spyder, only 92 Miles

The 887-horsepower Porsche 918 Spyder is a lot to handle. Too much to handle for the former owner of car #830, who wrecked it after putting just 92 miles on the odometer. Now, #830 has turned up at a salvage auction in Long Island, with bidding up to $100,000. Normally, a car this destroyed would be declared a total loss and meet its demise at the crusher, but limited-edition hypercars are a different story.

Porsche might be willing to bring this car back to its showroom-fresh condition. It might cost you as much, if not more, than buying a working 918, but you'd have a car with a unique history. Alleged Porsche replacement prices are a thing to behold. A factory 918 engine costs over $200,000 and a new transmission costs nearly $70,000. If those prices are accurate, fixing this 918 requires a big wallet and bravery.

See ----->http://canadastockjournal.blogspot.ca/2016/03/2017-porsche-918-spyder.html
See ----->http://canadastockjournal.blogspot.ca/2016/02/2016-porsche-911-turbo-s.html

Fortuna Silver Mines Inc. - FVI.t

Fortuna Silver Mines Inc. - FVI.t operates two key producing mines. The San Jose Mine is located in southern Oaxaca, Mexico and the Caylloma Mine is located in the southern highlands of Arequipa, Peru. Fortuna forecasts 2016 production of 7.0 million ounces of silver and 42,800 ounces of gold at a consolidated AISC of US$11.1 per ounce of silver.

On March 14, 2016 the company released Numbers

Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI) today reported revenue of $154.7 million, net loss of $10.6 million and an adjusted net income of $6.7 million.

Jorge A. Ganoza, President and CEO, commented, "Our 2015 operational and financial results reflect Fortuna's capacity to perform soundly in a challenging metal price environment. Adjusting for a $25.0 million impairment at our Caylloma Mine, the company delivered $6.7 million of adjusted net income." Mr. Ganoza continued, "San Jose exceeded its silver and gold production guidance while Caylloma successfully shifted mining to high grade polymetallic zones in the Animas Vein, resulting in increased zinc and lead output that helped improve margins." Mr. Ganoza added, "All-in sustaining cash cost of $14.51 per silver ounce, 13% below annual guidance, is the result of higher by-product credits and material savings in our CAPEX budget; For 2016 we have provided guidance for an All-in sustaining cash cost of $11.1 per silver ounce as we transition in July to the expanded new rate of 3,000 tpd at San Jose."

2015 Consolidated Financial Statements and MD&A Highlights:

• Sales of $154.7 million, compared to $174.0 million in 2014
• Net loss of $10.6 million, compared to net income of $15.6 million in 2014
• Impairment of Caylloma Mine of $25.0 million, before tax in 2015
• Adjusted net income of $6.7 million, compared to $15.7 million in 2014
• Adjusted earnings per share of $0.05, compared to $0.12 in 2014
• Cash position, including short term investments as at December 31, 2015 was $108.2 million
• Silver and gold production of 6,624,635 ounces and 39,689 ounces, respectively
• Cash cost per ounce of payable silver, net of by-product credits for gold, lead and zinc, was $3.59
• All-in sustaining cash cost per ounce of payable silver, net of by-product credits for gold, lead and zinc, was $14.51

Fourth Quarter 2015 Financial Statements and MD&A Highlights:

• Sales of $37.0 million, compared to $37.8 million in the fourth quarter of 2014
• Adjusted net loss of $0.1 million, compared to adjusted net income of $0.2 million in the fourth quarter of 2014
• Silver and gold production of 1,585,315 ounces and 9,955 ounces, respectively
• Cash cost per ounce of payable silver, net of by-product credits for gold, lead and zinc, was $2.77
• All-in sustaining cash cost per ounce of payable silver, net of by-product credits for gold, lead and zinc, was $18.13

2015 Year end Consolidated Results


For 2015 net loss amounted to $10.6 million (2014: income $15.6 million) as a result of a $25.0 million impairment charge, before tax, at the Caylloma Mine. Adjusted net income decreased 57% to $6.7 million compared to $15.7 million in 2014. This was due mainly to lower metal prices partially offset by higher gold and base metal production and lower unit costs at both operations. General and administrative expenses were $7.5 million lower compared to 2014. This was mostly due to a stock based compensation charge of $1.5 million in 2015, compared to $6.7 million in 2014 and $1.5 million less in corporate expenses.
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http://canadastockjournal.blogspot.com/2014/04/fortuna-silver-mines-inc-fvit.html