Volume 99 Number 29 Sep 2 - 8, 2013

AuRico’s Q2 hits the mark

AuRico Gold (TSX: AUQ; NYSE: AUQ) has met second-quarter earnings expectations after adjusting for US$105 million in non-cash charges, mostly related to its El Chanate gold mine in Mexico.

Iamgold's Rosebel gold mine in Suriname (2009). Photo by Alisha Hiyate.

Iamgold marches forward as cost cuts continue

Despite posting a second-quarter loss of US$28.4 million compared to a US$52.9-million profit a year ago, Iamgold (TSX: IMG; NYSE: IAG) says its operations are performing as expected, as it reins in spending amid declining quarterly revenues,…

Trucks moving material at Turquoise Hill Resources' Oyu Tolgoi copper-gold project in Mongolia.  Source: Turquoise Hill Resources

Turquoise Hill posts Q2, updates Oyu Tolgoi

Speaking on a conference call in mid-August from Ulaanbaatar, CEO Kay Priestly of Turquoise Hill Resources (TSX: TRQ; NYSE: TRQ) confirmed that development of the Oyu Tolgoi underground copper-gold mine was being delayed until matters including…

Core on display at Excellon Resources' La Platosa silver mine in Mexico. Source: Excellon Resources

Excellon hurt by lower silver prices

Excellon Resources (TSX: EXN; US-OTC: EXLLF) is another junior miner hit by the recent downward trend in metal prices. It booked a second-quarter net loss of $5 million, or 9¢ per share, compared to a $478,000 profit, or 1¢ per share,…

African Barrick latest to cut ties with CEO

With relatively new CEOs in place at Kinross Gold (TSX: K; NYSE: KGC), Newmont Mining (TSX: NMC; NYSE: NEM) and Barrick Gold (TSX: ABX; NYSE: ABX), it was perhaps only a matter of time before one of the poorest…

U.S. markets, Aug. 19-23

Poor housing data in the U.S. showed sales of new single-family homes fell in July to a nine-month low, which fuelled debate over the status of the Federal Reserve’s stimulus program. Mounting tension over Syria created more uncertainty….

TSX Venture Exchange, Aug. 19-23

The S&P/TSX Venture Composite Index overcame a slow start to register its second consecutive weekly gain during the trading period, finishing up 6.33 points en route to a 946.56-point close. Stronger commodity prices continue to drive…

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