Home
Gold Stock News
Gold Stock Commentary
Gold Stock Information
Sitemap
Home > Gold Stock News
GOLDLIVE.NET provides you with gold prices, gold stock news, and gold stock information.
Gold Stock News From the Day of July 30, 2009
Recent Gold Stock News Stories: July 30, 2009 (source: http://www.goldalert.com)
Nevsun Resources (NSU) received support for its Bisha project from the Government of Eritrea. This satisfies a significant precedent. Gold production at Bisha is set to commence August 2010. Production totals are estimated at 431,000 gold ounces and 702,000 silver ounces. Cash costs are predicted to be sustained below $230 per ounce. Internal rate of return is expected to be 54 percent.
Agnico-Eagle Mines (AEM) reported quarterly net earnings of $1.2 million. The company has cash on hand of $173.9 million with $400 million available via credit lines. For the quarter, Agnico-Eagle produced 119,053 ounces of gold, 1.034 million ounces of silver, 32.9 million pounds of zinc, and 4.6 million pounds of copper. Cash costs for gold production were about $326 per gold ounce. 2009 production guidance is set at 550,000-575,000 gold ounces. The company has advanced-stage projects in Canada, Mexico, and the United States. Its LaRonde mine in Quebec is Canada's largest gold deposit by gold reserves.
Goldcorp (GG) recorded adjusted net earnings of $99.2 million, or $0.14 per share, for the quarter. However, a non-cash foreign exchange loss led to a Q2 net loss of $231.6 million, or $0.32 per share. Cash reserves stand at $866 million with a credit facility of $1.5 billion available. Goldcorp produced 582,400 gold ounces in its second quarter, at cash costs of $310 per gold ounce. Goldcorp maintained its 2009 production guidance of 2.3 million gold ounces. Over 70% of Goldcorp's reserves are located in low political risk NAFTA countries.