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If gold were to make a run for it, now is where it should start. 1762.
GCM Mining Declares September 15, 2022 Monthly Dividend
August 17, 2022
https://www.gcm-mining.com/news-and-investors/press-releases/press-releases-details/2022/GCM-Mining-Declares-September-15-2022-Monthly-Dividend/default.aspx
TORONTO, Aug. 17, 2022 (GLOBE NEWSWIRE) --
GCM Mining Corp. (“GCM Mining” or the “Company”) (TSX: GCM, OTCQX:
TPRFF) announced today that its Board of Directors has declared the next
monthly dividend of CA$0.015 per common share will be paid on September 15,
2022 to shareholders of record as of the close of business on August 31, 2022.
About GCM Mining Corp.
GCM Mining is a mid-tier gold producer with a proven track record of mine building and operating in Latin America. In Colombia, the Company is the leading high-grade underground gold and silver producer with several mines in operation at its Segovia Operations.
Segovia produced 206,389 ounces of gold in 2021. In Guyana, the Company is advancing its fully funded Toroparu Project, one of the largest undeveloped gold/copper projects in the Americas, which is expected to commence production of more than 200,000 ounces of gold annually in 2024.
GCM Mining has equity interests in
Aris Gold Corporation (~44%; TSX: ARIS; Colombia – Marmato,
Soto Norte; Canada - Juby),
Denarius Metals Corp. (~32%; TSX-V: DSLV; Spain – Lomero-Poyatos and Colombia – Guia Antigua, Zancudo) and
Western Atlas Resources Inc. (~26%; TSX-V: WA: Nunavut – Meadowbank).
Additional information on GCM Mining can be found on its website at
http://www.gcm-mining.com
and by reviewing its profile on SEDAR at www.sedar.com.
Cautionary Statement on Forward-Looking Information:
This news release contains "forward-looking information", which may include, but is not limited to, statements with respect to the payment of dividends and other anticipated business plans or strategies. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of GCM Mining to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risk Factors" in the Company's Annual Information Form dated as of March 31, 2022 which is available for view on SEDAR at www.sedar.com. Forward-looking statements contained herein are made as of the date of this press release and GCM Mining disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
For Further Information, Contact:
Mike Davies
Chief Financial Officer
(416) 360-4653
investorrelations@gcm-mining.com
https://www.gcm-mining.com/news-and-investors/press-releases/press-releases-details/2022/GCM-Mining-Declares-September-15-2022-Monthly-Dividend/default.aspx
Primary Logo
Source: GCM Mining Corp.
View All News
GCM MININg; 2022 Second Quarter and First Half Results Webcast
August 12, 2022 09:00 AM ET
GCM Mining will release its 2022 second quarter and first half results after market close on Thursday, August 11, 2022 and will host a conference call and webcast on Friday, August 12, 2022 at 9:00 a.m. Eastern Time to discuss the results.
Webcast and call-in details are as follows:
https://www.gcm-mining.com/news-and-investors/events-and-presentations/events-calendar/event-details/2022/2022-Second-Quarter-and-First-Half-Results-Webcast-/default.aspx
Gold & Silver: Is the Bottom In? Here Is What to Expect Next - Gary Wagner
Wall Street Silver
August 8, 2022
https://www.gold-eagle.com/article/gold-silver-bottom-here-what-expect-next-gary-wagner
Gold SWOT: Geopolitical tensions between the U.S. and China are boosting haven demand for gold
Frank E. Holmes Frank E. Holmes
Monday August 08, 2022 14:56
Kitco Commentaries | Opinions, Ideas and Markets Talk
https://www.kitco.com/commentaries/2022-08-08/Gold-SWOT-Geopolitical-tensions-between-the-U-S-and-China-are-boosting-haven-demand-for-gold.html
GCM Mining: Merger with Aris Gold Creates a Mid-Tier Gold Producer with a
Diversified Portfolio
Aug 10, 2022 Following the finalization of the merger agreement between GCM
Mining and Aris Gold Corporation, subject to shareh…
Aris Gold and GCM Mining combine to create a leading Americas gold producer
View the July 25, 2022 news releasePDF Format (opens in new window)
View the presentation PDF Format (opens in new window)
https://www.arisgold.com/investors/Aris-Gold-to-combine-with-GCM-Mining/
https://s28.q4cdn.com/389315916/files/doc_downloads/2022/07/Aris-Gold-GCM-presentation-25-July-2022.pdf
GCM Mining (TSX:GCM) & Aris Gold (TSX:ARIS) combine to become a top gold producer
Market News, Mining
TSX:GCM
https://themarketherald.ca/gcm-mining-and-aris-gold-combine-to-create-a-leading-americas-gold-producer-2-2022-07-25/?utm_source=stockhouse.com&utm_medium=widget&utm_campaign=stockhouse.com%7Cwebpart_news%7Cquote_tab
Cash and pipeline, all good news.
GCM Mining Announces Second Quarter 2022 Results Webcast
T.GCM |
TORONTO, Aug. 02, 2022 (GLOBE NEWSWIRE) --
GCM Mining Corp. (“GCM Mining” or the “Company”) (TSX: GCM, OTCQX: TPRFF) announced today that it will release its second quarter and first half 2022
results after market close on Thursday, August 11, 2022 and will host a conference
call and webcast on Friday, August 12, 2022 at 9:00 a.m. Eastern Time to discuss
the results.
Webcast and call-in details are as follows:
Live Event link: https://edge.media-server.com/mmc/p/yswncieo
Canada/ International Toll: 1 (647) 484-8332 PIN: 19483475#
Canada Toll Free: 1 (866) 455-3403 PIN: 19483475#
United States Toll: 1 (404) 400-0571 PIN: 19483475#
United States Toll Free: 1 (866) 374-5140 PIN: 19483475#
Colombia Toll: +57 601 485-0348 PIN: 19483475#
Colombia Toll Free: +57 800 519-0788 PIN: 19483475#
Conference ID: EV00136622
A replay of the webcast will be available at
http://www.gcm-mining.com
from Friday, August 12, 2022 until Friday, September 9, 2022.
About GCM Mining Corp.
GCM Mining is a mid-tier gold producer with a proven track record of mine building and operating in Latin America. In Colombia, the Company is a leading high-grade underground gold and silver producer with several mines in operation at its Segovia Operations. Segovia produced 206,389 ounces of gold in 2021. In Guyana, the Company is advancing its fully funded Toroparu Project, one of the largest undeveloped gold/copper projects in the Americas, which is expected to commence production of more than 200,000 ounces of gold annually in 2024. GCM Mining has equity interests in Aris Gold Corporation (~44%; TSX: ARIS; Colombia – Marmato, Soto Norte; Canada - Juby), Denarius Metals Corp. (~32%; TSX-V: DSLV; Spain – Lomero-Poyatos and Colombia – Guia Antigua, Zancudo) and Western Atlas Resources Inc. (~26%; TSX-V: WA: Nunavut – Meadowbank).
Additional information on GCM Mining can be found on its website at www.gcm-mining.com and by reviewing its profile on SEDAR at www.sedar.com.
Cautionary Statement on Forward-Looking Information:
This news release contains "forward-looking information", which may include, but is not limited to, statements with respect to timing for dissemination of second quarter and first half 2022 financial results and other anticipated business plans or strategies. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of GCM Mining to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risk Factors" in the Company's Annual Information Form dated as of March 31, 2022 which is available for view on SEDAR at www.sedar.com. Forward-looking statements contained herein are made as of the date of this press release and GCM Mining disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
For Further Information, Contact:
Mike Davies
Chief Financial Officer
(416) 360-4653
investorrelations@gcm-mining.com
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Tags:
INDUSTRIAL METALS & MINERALS
Geodan welcome, GCM - ARIS very oversold, undervalued gold mines low cost
gold producers great bargain )
IMO.
https://www.gcm-mining.com/news-and-investors/press-releases/press-releases-details/2022/GCM-Mining-and-Aris-Gold-Combine-to-Create-a-Leading-Americas-Gold-Producer/default.aspx
$In GOD We Trust - Real Money - AU Safety 6000yrs )
Deal looks good Bob, GoldCorpVersion2 in process. I think they should add FSM and Orea, then 1 million oz almost for sure per year.
i think i know what you are talking about Bob, im gonna back up the other truck.
Thanks! I just had a very rude awakening as to just what lengths people will go to, to get their hands on gold - I ordered a rare 10 gold piece - cost $1,000.00. It was shipped by FED-X from Arizona. The driver handed it to me - without getting my signature - and ran back to his truck - when I got back to my apartment I saw that the box had been opened and the coin was long gone!! The company I bought it from say they will do what they can to recover it. Now I sit and wait. GO GCM Mining Corp.
1715 is golds limit until tomorrow. Let’s see what gives here today.
This is a big deal, i loaded up the truck, but i should have brought 2. This is a rising star at exactly the right time. very huge.
These guys are cranking on all cylinders.
announced today that it produced a total of 16,370 ounces of gold in June 2022 at its Segovia Operations bringing the total for the second quarter of 2022 to 53,198 ounces compared with 52,198 ounces from Segovia in the second quarter of 2021. In the second quarter of 2022, the Company also produced 85,741 ounces of silver, up from 54,573 ounces of silver in the second quarter last year, together with approximately 294,000 pounds of zinc and 345,000 pounds of lead.
For the first half of 2022, the Company produced 103,149 ounces of gold at its Segovia Operations, up from 101,256 ounces of gold in the first half last year. The Company reported consolidated gold production in the first half last year of 103,684 ounces which included 2,428 ounces from Marmato up to February 4, 2021, the date of the loss of control of Aris Gold Corporation.
GCM Mining’s trailing 12-months’ total gold production at the end of June 2022 was 208,282 ounces, up about 1% over last year. The Company remains on track to meet its 2022 annual production guidance of 210,000 to 225,000 ounces of gold, aided by the completion of the Maria Dama plant expansion to 2,000 tonnes per day (“tpd”) in the third quarter of 2022.
GCM Mining processed a total of 44,047 tonnes in June 2022 at its Maria Dama plant, representing a daily average processing rate of 1,468 tpd, at an average head grade of 12.8 g/t. Plant operations in June 2022 reflected a scheduled 120-hour stoppage to change the linings of the mill in addition to routine repairs and improvements. For the second quarter of 2022, a total of 147,580 tonnes, equivalent to 1,622 tpd, were processed at Segovia at an average head grade of 12.4 g/t compared with a total of 143,910 tonnes, equivalent to 1,581 tpd, at an average head grade of 12.6 g/t in the second quarter last year. This brings the daily average processing rate for the first half of 2022 to 1,604 tpd at an average head grade of 12.3 g/t compared with 1,526 tpd and 12.7 g/t in the first half last year.
GCM Mining Reports Second Quarter and First Half 2022 Production; Declares August 15, 2022 Monthly Dividend
July 18, 2022
https://www.gcm-mining.com/news-and-investors/press-releases/press-releases-details/2022/GCMMining-Reports-Second-Quarter-and-First-Half-2022-Production-Declares-August-15-2022-Monthly-Dividend/default.aspx
https://www.gcm-mining.com
Good, but I believe they maybe helping suppress it now illegally. When she blows she blows like a caldera. But when.
$TPRFF Central banks will continue to buy gold in 2022 - World Gold Council Survey
Bob, right about now, gold should make its move up. GCM and good miners like them should exceed the move.
GCM Mining stock cheap based on projects and investments
https://seekingalpha.com/article/4520842-gcm-mining-looks-cheap-based-on-the-npv-of-its-projects-and-the-market-value-of-its-investments
GCM Mining Reports First Quarter 2022
https://www.youtube.com/watch?v=3cztofuYcD0
Click on link above to get volume for videon or on youTube link ;
$GCM Stock Screener: Ep. 145: GCM Mining (TPRFF): Q1 2022 Financial Results
265 views Premiered May 13, 2022 The fundamentals look good. Production is
ramping up and costs are down
.https://www.youtube.com/watch?v=LMuomh1YUNY…
GCM Mining Announces May 2022 Production; Declares July 15, 2022 Monthly Dividend
June 16, 2022
TORONTO, June 16, 2022 (GLOBE NEWSWIRE) --
GCM Mining Corp. (“GCM Mining” or the “Company”) (TSX: GCM, OTCQX: TPRFF)
announced today that its Segovia Operations produced 18,507 ounces of gold in
May 2022, up from 17,936 ounces of gold in May last year.
This brings the total gold production for the first five months of 2022 to 86,779
ounces, up from 84,467 ounces in the first five months last year. Segovia’s trailing
12-months’ total gold production at the end of May 2022 was 208,701 ounces, up
about 1% over 2021.
Expansion of the Company’s processing plant at Segovia to 2,000 tonnes per day
(“tpd”) is nearing completion and is expected to be finished in July.
The Company is on track to meet its annual production guidance for 2022 of
between 210,000 and 225,000 ounces of gold.
https://www.gcm-mining.com/news-and-investors/press-releases/press-releases-details/2022/GCM-Mining-Announces-May-2022-Production-Declares-July-15-2022-Monthly-Dividend/default.aspx
GCM Mining processed a total of 52,731 tonnes in May 2022 at its Maria Dama
plant at Segovia, representing a daily processing rate of 1,701 tpd, compared with
49,089 tonnes and 1,584 tpd in May 2021.
Segovia’s head grades averaged 12.1 g/t in May 2022 compared with 12.6 g/t in
May last year.
For the first five months of 2022, a total of 246,352 tonnes (equivalent to 1,631
tpd) were processed at Segovia at an average head grade of 12.2 g/t compared
with a total of 229,747 tonnes (equivalent to 1,522 tpd) at an average head grade
of 12.7 g/t in the first five months last year.
The Company also processed an average of 93 tpd of tailings in May 2022 at its
polymetallic plant at Segovia resulting in the production of approximately 130
tonnes of zinc concentrate and approximately 94 tonnes of lead concentrate which
have been stockpiled.
The Company finalized the offtake contract for the concentrates earlier this month
and is making preparation for the initial shipments which are expected to occur by
the end of this month.
Payable production from the concentrates in May 2022 is estimated to total
approximately 114,000 pounds of zinc, 124,000 pounds of lead, 9,500 ounces of
silver and less than 50 ounces of gold.
Actual payable quantities are subject to change and will be finalized once the
concentrates are shipped.
Monthly Dividend Declaration
GCM Mining also announced today that its Board of Directors has declared the
next monthly dividend of CA$0.015 per common share will be paid on July 15,
2022 to shareholders of record as of the close of business on June 30, 2022.
About GCM Mining Corp.
GCM Mining is a mid-tier gold producer with a proven track record of mine building
and operating in Latin America.
In Colombia, the Company is a leading high-grade underground gold and silver
producer with several mines in operation at its Segovia Operations.
Segovia produced 206,389 ounces of gold in 2021. In Guyana, the Company is
advancing its fully funded Toroparu Project, one of the largest undeveloped
gold/copper projects in the Americas, which is expected to commence production
of more than 200,000 ounces of gold annually in 2024.
GCM Mining pays a monthly dividend to its shareholders and has equity interests
in Aris Gold Corporation (~44%; TSX: ARIS; Colombia – Marmato, Soto Norte;
Canada - Juby), Denarius Metals Corp. (~32%; TSX-V: DSLV; Spain – Lomero-
Poyatos and Colombia – Guia Antigua, Zancudo) and Western Atlas Resources
Inc. (~26%; TSX-V: WA: Nunavut – Meadowbank).
Additional information on GCM Mining can be found on its website at
https://www.gcm-mining.com
and by reviewing its profile on SEDAR at www.sedar.com.
$In GOD We Trust - Real Money - AU Safety 6000yrs )
https://www.kitconet.com/images/quotes_7a.gif?1493417496003
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
GOLD STANDARD; THE REAL LEGAL MONEY:
https://www.cs.mcgill.ca/~rwest/wikispeedia/wpcd/wp/g/Gold_standard.htm#:~:text=Advocates%20of%20a%20variety%20of,basis%20for%20a%20monetary%20system.
https://www.usdebtclock.org/
https://www.worldometers.info/coronavirus/country/us/
https://www.whatdoesitmean.com/index.htm
God Bless.
Geodan thanks; What Market is missing about GCM?, it is selling for less that
forward annual profits.
And in last week they have bot near $1 million of their own stock.
I bot more today
. https://imgur.com/a/vIZ1BjC
Fed Raises .75, But Look At These Two Shockers!
June 15, 2022
https://kingworldnews.com/fed-raises-75-but-look-at-these-two-shockers/
TM; We May See A Big Summer Surprise For The Gold & Silver Markets
June 11, 2022
https://kingworldnews.com/a-summer-surprise-for-the-gold-silver-markets/
$TM GCM Mining Corp. Plant - The Era of Transformation
60 views Premiered 13 hours ago
Construction of the new polymetallic plant for recovery of zinc, lead, gold and silver
from the tailings into concentrate at Segovia was completed in 2021, generating our
first production of concentrates to be sold in 2022.
The plant creates shared value by creating revenue and reducing our environmental
impact by recovering lead and zinc, returning the final tailings to our
Maria Dama processing plant for purification, and then pumping them to
the El Chocho tailings storage.
https://www.youtube.com/watch?v=bgoX9HNj5kI
What Market is missing about GCM?,it is selling for less that forward annual profits.
And in last week they have bot near $1 million of their own stock.
I bot more today. https://imgur.com/a/vIZ1BjC
Nice video but wondered why it wasn't voice over and no one was wearing a mask, seemed a bit dangerous even though it's wet conditions. BTW followed you from some of the other crazy boards TA
$GCM Mining Corp. Plant - The Era of Transformation
60 views Premiered 13 hours ago
Construction of the new polymetallic plant for recovery of zinc, lead, gold and silver
from the tailings into concentrate at Segovia was completed in 2021, generating our
first production of concentrates to be sold in 2022.
The plant creates shared value by creating revenue and reducing our environmental
impact by recovering lead and zinc, returning the final tailings to our
Maria Dama processing plant for purification, and then pumping them to
the El Chocho tailings storage.
https://www.youtube.com/watch?v=bgoX9HNj5kI
GCM Mining Corp. NEW VIDEO
https://www.youtube.com/watch?v=zMLiAUqdMRo
Is The Dividend GCM Mining Corp. Giving The Shareholders The Highest
In The Mining Industry!?
News Release Recap Video
GCM Mining pays a monthly dividend to its shareholders and has equity interests in:
https://www.gcm-mining.com/overview/default.aspx
https://www.youtube.com/watch?v=3cztofuYcD0
GCM Mining The Next Barrick
https://www.gcm-mining.com/news-and-investors/press-releases/press-releases-details/2022/GCM-Mining-Declares-June-15-2022-Monthly-Dividend/default.aspx
https://www.gcm-mining.com/news-and-investors/press-releases/press-releases-details/2022/GCM-Mining-Announces-First-Quarter-2022-Results/default.aspx
GCM Mining pays a monthly dividend to its shareholders and has equity interests in:
https://www.gcm-mining.com/overview/default.aspx
Aris Gold Corporation (GCM Own 44% Shares of; TSX: ARIS; Colombia – Marmato),
https://www.arisgold.com/overview/default.aspx
Denarius Metals Corp. (GCM Own 28.6%; Shares of TSXV: DSLV; Spain – Lomero-Poyatos and Colombia – Guia Antigua, Zancudo) and
https://www.denariusmetals.com/overview/default.aspx
Western Atlas Resources Inc. (GCM Own 26%;Shares of TSX-V: WA: Nunavut – Meadowbank).
https://www.westernar.com
$In GOD We Trust - Real Money - AU Safety 6000yrs
https://www.kitconet.com/images/quotes_7a.gif?1493417496003
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
https://www.usdebtclock.org/
https://www.worldometers.info/coronavirus/country/us/
https://www.whatdoesitmean.com/index.htm
God Bless
GCM Mining Corp/ RE:conf call
he also said arbitration legal costs were concentrated in q1 and q3.
sounds like they are getting really serious with that arbitration.
gcm still holds the marmato open pit project, and because of gov inaction that
project
could not move forward.
would not be bad if gcm wins that $700 mil arbitration
by invest
$In GOD We Trust - Real Money - AU Safety 6000yrs )
https://www.kitconet.com/images/quotes_7a.gif?1493417496003
http://www.kitconet.com/images/live/au0001wb.gif
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
https://www.usdebtclock.org/
https://www.worldometers.info/coronavirus/country/us/
https://www.whatdoesitmean.com/index.htm
God Bless
GCM Mining pays a monthly dividend to its shareholders and has equity interests in:
https://www.gcm-mining.com/overview/default.aspx
Aris Gold Corporation (44%; TSX: ARIS; Colombia – Marmato),
https://www.arisgold.com/overview/default.aspx
Denarius Metals Corp. (28.6%; TSXV: DSLV; Spain – Lomero-Poyatos and Colombia – Guia Antigua, Zancudo) and
https://www.denariusmetals.com/overview/default.aspx
Western Atlas Resources Inc. (26%; TSX-V: WA: Nunavut – Meadowbank).
https://www.westernar.com
$In GOD We Trust - Real Money - AU Safety 6000yrs )
https://www.kitconet.com/images/quotes_7a.gif?1493417496003
http://www.kitconet.com/images/live/au0001wb.gif
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
https://www.usdebtclock.org/
https://www.worldometers.info/coronavirus/country/us/
https://www.whatdoesitmean.com/index.htm
God Bless
GCM Mining Announces First Quarter 2022 Results
May 12, 2022
https://www.gcm-mining.com/news-and-investors/press-releases/press-releases-details/2022/GCM-Mining-Announces-First-Quarter-2022-Results/default.aspx
TORONTO, May 12, 2022 (GLOBE NEWSWIRE) --
GCM Mining Corp. (TSX: GCM; OTCQX: TPRFF) announced today the release of its unaudited interim condensed consolidated financial statements and accompanying management’s discussion and analysis (MD&A) for the three months ended March 31, 2022. All financial figures contained herein are expressed in U.S. dollars (“USD”) unless otherwise noted. Non-GAAP financial performance measures in this press release are identified with “NG”. For a detailed description of each of the non-GAAP measures used in this press release and a detailed reconciliation to the most directly comparable measure under IFRS, please refer to the Company’s MD&A.
Lombardo Paredes, Chief Executive Officer of GCM Mining, commenting on the first quarter results, said, “We have started off 2022 on a positive note, meeting our expectations for production, costs and cash flow in the first quarter. We are on track to once again meet our annual production guidance for 2022. Following the favorable Mineral Reserve and Resource update at Segovia that we announced in March, our exploration and mine geology teams have continued to execute the ongoing drilling campaigns at our four producing mines and the brownfield areas in our mining title. At our Toroparu Project in Guyana, we are advancing the infill drilling and the pre-construction activities. We are also completing the competitive bid process for the contract miner and selection processes for the power plant contractor and main civil works contractor are getting underway. We are on track to finalize the prefeasibility study in the third quarter of 2022, at which point formal construction of the project is expected to commence. The Company is also working with the local governmental agencies to finalize the mining license which is expected to be received in mid-2022.”
First Quarter 2022 Highlights
GCM Mining’s gold production from its Segovia Operations totaled 49,951 ounces in the first quarter of 2022, up 2% over the first quarter last year. In April 2022, Segovia produced 18,321 ounces of gold bringing Segovia’s trailing 12 months’ total gold production as of the end of April 2022 to 208,130 ounces, up 1% over 2021. Expansion of the Company’s processing plant at Segovia to 2,000 tpd is proceeding well and is expected to be fully completed by mid-2022. The Company is on track to meet its annual production guidance for 2022 of between 210,000 and 225,000 ounces of gold.
The new polymetallic recovery plant constructed in 2021 at Segovia produced approximately 252,000 lbs of payable zinc and 338,000 lbs of payable lead in the first quarter of 2022. The concentrate production is currently being stockpiled as the Company finalizes the offtake contract with an international customer for shipments to commence before the end of the second quarter of 2022.
Consolidated revenue, all of which was sourced from the Segovia Operations in the first quarter of 2022, amounted to $101.3 million compared with $101.9 million in the first quarter last year, which included $5.1 million from Aris Gold Corporation (“Aris”) prior to the loss of control of Aris on February 4, 2021. Segovia’s revenue in the first quarter of 2022 was up 5% from the first quarter last year reflecting a 2% increase in the volume of gold sold to 53,645 ounces and a 3% increase in realized gold prices to an average of $1,860 per ounce.
At the Segovia Operations, total cash costsNG averaged $817 per ounce in the first quarter of 2022 compared with $825 per ounce in the first quarter of 2021. Including the Marmato mining operations owned by Aris, consolidated total cash costs were $862 per ounce in the first quarter last year.
All-in sustaining costs (“AISC”) NG per ounce sold for the Segovia Operations were $1,187 in the first quarter of 2022 compared with $1,120 per ounce in the first quarter last year. The year-over-year increase in Segovia’s AISC primarily reflects $3.2 million of fees, equivalent to about $60 per ounce sold, included in G&A expenses in the first quarter of 2022 related to the Company’s ongoing arbitration proceedings with the International Centre for Settlement of Investment Disputes (“ICSID”) in respect of its claim against the Republic of Colombia (the “FTA Claim”). Including Marmato, consolidated AISC in the first quarter last year was $1,164 per ounce.
GCM Mining maintained its commitment to its exploration drilling campaigns in the first quarter of 2022, completing a total of approximately 8,700 meters of drilling at El Silencio and Sandra K and another approximately 6,500 meters through its brownfield drilling program at Cristales, Marmajito, Manzanillo and Vera.
Adjusted EBITDA NG amounted to $45.2 million for the first quarter of 2022 compared with $46.3 million in the first quarter last year. This brings the trailing 12 months’ total adjusted EBITDA at the end of March 2022 to $170.5 million compared with $171.6 million in 2021.
Net cash provided by operating activities in the first quarter of 2022 was $24.2 million compared with $13.6 million in the first quarter last year which was net of $10.1 million used by Aris prior to the loss of control in early 2021. This brings the trailing 12 months’ net cash provided by operating activities at the end of March 2022 to $91.1 million, up from $80.6 million in 2021.
Free Cash Flow NG in the first quarter of 2022 was $10.7 million compared with $2.5 million in the first quarter last year bringing the trailing 12 months’ Free Cash Flow at the end of March 2022 to $34.4 million, up from $26.2 million in 2021.
GCM Mining’s balance sheet remained strong with a cash position of $315.1 million at March 31, 2022. The Company also has $138.0 million of funding available for construction of its Toroparu Project in Guyana through a precious metals stream facility with Wheaton Precious Metals (Caymans) Ltd. Other than scheduled interest payments, the Company has no maturities of its long-term debt in the next 12 months.
The Company returned a total of $4.6 million to shareholders in the first quarter of 2022 with payment of its monthly dividends totaling $3.5 million and the repurchase of approximately 0.3 million shares for cancellation at a cost of $1.1 million. In April 2022, the Company purchased and cancelled an additional 100,000 common shares under its Normal Course Issuer Bid.
Income from operations in the first quarter of 2022 was $35.7 million, down from $39.1 million in the first quarter last year largely due to the increase in G&A, share-based compensation and social programs expenses which more than offset the benefit of the reduction in Segovia’s total cash cost NG per ounce sold in the first quarter of 2022 versus the first quarter last year.
The Company reported net income of $5.2 million ($0.05 per share) in the first quarter of 2022 compared with $118.3 million ($2.02 per share) in the first quarter last year. Net earnings in the first quarter last year included the benefit of a $56.9 million gain on loss of control of Aris, the $42.8 million gain on financial instruments and an $8.9 million gain on sale of the Zancudo Project, offset partially by $9.8 million of transaction costs incurred by Aris in connection with the loss of control in early 2021.
The Company reported adjusted net income NG for the first quarter of 2022 of $14.8 million ($0.15 per share) compared with $21.9 million ($0.36 per share) in the first quarter last year. The year-over-year decrease in adjusted net income in the first quarter of 2022 largely reflects the $4.0 million decrease in income from operations as noted above together with a $2.5 million increase in finance costs resulting from the Senior Notes issued in August 2021 and an increase in income tax expense due to the tax rate increase in Colombia effective in 2022.
Selected Financial Information
https://www.gcm-mining.com/news-and-investors/press-releases/press-releases-details/2022/GCM-Mining-Announces-First-Quarter-2022-Results/default.aspx
https://www.gcm-mining.com/operations-and-projects/other-projects/default.aspx
https://www.gcm-mining.com/news-and-investors/events-and-presentations/events-calendar/default.aspx
https://www.gcm-mining.com
$In GOD We Trust - Real Money - AU Safety 6000yrs )
https://www.kitconet.com/images/quotes_7a.gif?1493417496003
http://www.kitconet.com/images/live/au0001wb.gif
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
https://www.usdebtclock.org/
https://www.worldometers.info/coronavirus/country/us/
https://www.whatdoesitmean.com/index.htm
God Bless
Gold seems determined to close at daily lows. Nothing healthy looking that stands out other than the dollar is so messed up it’s gonna be painful when it falls.
Miners are doing great, gold itself looks like it’s walking around and stumbling like a drunk. The pattern is making me seasick.
GCM Mining Corp. April 18 News Release Recap
https://www.youtube.com/watch?v=3cztofuYcD0
Serafino Iacono: We are Setting up for a Metals Cycle Unlike Any We Have Ever Seen
23,424 viewsApr 25, 2022
https://www.youtube.com/watch?v=V8zgkAOXkHc
Gold and silver are way oversold. The criminal futures got to get their money. It’s a screaming buy. Not a single fundamental reason for drop today.
Silver looks ready to sail on by, her time has come. Gold has its finger on 1900 after it revisits 1885…..most likely.
trunkmonk anything new - as US treasury jacks up the dollar within
its own cycle, due to no one else buying it, and commercial banks
stuffed to the gills with US debt, they will continue buying gold, and
will let the price run so as to have these assets on the books, at 100%
thanks to Basil III. technically it looks like gold inflection point is
either here or soon will be.
I expect gold to run hard into May, its technically oversold. seems
when Miners lead gold the reverse is hard.
looking for smooth transition above 2000 soon.?
https://kingworldnews.com/billionaire-frank-giustra-someone-is-deliberately-suppressing-the-gold-price-ahead-of-a-global-reset/
It Is "Just A Matter Of Time" Before Gold Rises 5x Or More:
Lawrence Lepard
Tyler Durden's Photo
BY TYLER DURDEN
WEDNESDAY, APR 20, 2022 - 07:15 AM
Submitted by QTR's Fringe Finance
https://www.zerohedge.com/markets/it-just-matter-time-gold-rises-5x-or-more-lawrence-lepard
Larry was kind enough to allow me to share his most recent thoughts.
Part 1 is below, where he lays out his case for massive upside in gold, and
Part 2 will be published later this week.
Global Fiat Failure And The Coming Panic Into Gold & Silver
April 14, 2022
https://kingworldnews.com/global-fiat-failure-and-the-coming-panic-into-gold-silver/
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=168506668
$In GOD We Trust - Real Money - AU Safety 6000yrs )
https://www.kitconet.com/images/quotes_7a.gif?1493417496003
http://www.kitconet.com/images/live/au0001wb.gif
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
https://www.usdebtclock.org/
https://www.worldometers.info/coronavirus/country/us/
https://www.whatdoesitmean.com/index.htm
God Bless
NWO Federal Reserve Chairman Jerome Powell Speaks
Notice that after NWO Federal Reserve Chairman Jerome Powell spoke today about
raising interest rates that while stock markets sold off that tangible assets like
copper, oil, gold, natural gas etc., did not drop in price. They maintained their value.
Raising interest rates is to prop up the USD. It is not prices that are rising but it is
fiatdollars that are devaluing.
https://twitter.com/GCMGold
Getting on the GOLD Standard
https://www.youtube.com/watch?v=149o2jkkKiw
as US treasury jacks up the dollar within its own cycle, due to no one else buying it, and commercial banks stuffed to the gills with US debt, they will continue buying gold, and will let the price run so as to have these assets on the books, at 100% thanks to Basil III. technically it looks like gold inflection point is either here or soon will be. I expect gold to run hard into May, its technically oversold. seems when Miners lead gold the reverse is hard. looking for smooth transition above 2000 soon.
TORONTO, ON --(Marketwired - May 12, 2016) - Gran Colombia Gold Corp. (TSX: GCM) (OTC PINK: TPRFF) announced today the release of its unaudited condensed consolidated financial statements and accompanying management's discussion and analysis (MD&A) for the three months ended March 31, 2016. All financial figures contained herein are expressed in U.S. dollars unless otherwise noted.
First Quarter 2016 Highlights
Lombardo Paredes Arenas, Chief Executive Officer of Gran Colombia, commenting on the Company's results for the first quarter of 2016, said, "We are making steady progress in the execution of our business plan. The improvement in our adjusted EBITDA, made possible through reductions in our costs and production growth, is enabling us to use our operating cash flow in the short-term to improve our balance sheet by reducing our working capital deficit and, ultimately, is essential for building the cash required to repay our senior debt."
Financial and Operating Summary
A summary of the financial and operating results for the first quarters of 2016 and 2015 follows:
First Quarter | |||||||
2016 | 2015 | ||||||
Operating data: | |||||||
Gold produced (ounces) | 31,489 | 23,973 | |||||
Gold sold (ounces) | 29,686 | 25,332 | |||||
Average realized gold price ($/oz sold) | $ | 1,144 | $ | 1,193 | |||
Total cash costs ($/oz sold) (1) | 685 | 824 | |||||
All-in sustaining costs ($/oz sold) (1) | 790 | 938 | |||||
Financial data ($000's, except per share amounts): | |||||||
Revenue | $ | 34,470 | $ | 30,658 | |||
Adjusted EBITDA (1) | 11,586 | 7,143 | |||||
Net income (loss) attributable to shareholders | 10,826 | (3,315 | ) | ||||
Basic and diluted income (loss) per share | 0.15 | (0.14 | ) | ||||
Adjusted net income (loss) attributable to shareholders (1) | 251 | (1,816 | ) | ||||
Basic and diluted adjusted income (loss) per share (1) | 0.00 | (0.08 | ) | ||||
March 31, | December 31, | ||||||
2016 | 2015 | ||||||
Balance sheet ($000's): | |||||||
Cash and cash equivalents | $ | 3,024 | $ | 3,004 | |||
Senior debt (2) | 78,373 | 100,740 | |||||
Other debt, including current portion | 2,760 | 3,012 |
(1) | Refer to "Additional Financial Measures" in the Company's MD&A. | |
(2) | Represents carrying amounts which are at a discount to principal amounts. Refer to Company's Interim Financial Statements for additional details regarding the 2018 and 2020 Debentures. | |
Segovia Operations
First quarter 2016 gold production at Segovia totalled 25,999 ounces, up 8.9% from the fourth quarter of 2015 and up 40.3% from the first quarter a year ago. An increased volume of higher grade material from the contract mining cooperatives enabled the Company to process an average of 730 tpd with head grades averaging 12.9 g/t in the first quarter of 2016, an improvement from 678 tpd at an average head grade of 12.0 g/t in the fourth quarter of 2015 and 500 tpd at head grades averaging 14.1 g/t in the first quarter a year ago. Gran Colombia is continuing with the mine development and mechanization program according to the optimized mine plan developed in 2015 and expects to produce a total of 96,000 to 110,000 at its Segovia Operations for the full year 2016.
The Company's total cash cost results in the first quarter of 2016 saw a continuation of the trend experienced in 2015 as further devaluation of the Colombian peso against the U.S. dollar, increased production volumes reducing fixed costs on a per ounce basis and costs savings all combined to decrease total cash costs at the Segovia Operations to $659 per ounce, 17% lower than reported for the first quarter last year.
Marmato Operations
At the Marmato Underground mine, the Company processed 820 tpd at an average head grade of 2.6 g/t yielding gold production of 5,490 ounces in the first quarter of 2016, down 11.2% from the fourth quarter of 2015 in which it processed 860 tpd at head grades averaging 2.8 g/t and on par with the first quarter a year ago when it processed 813 tpd at head grades averaging 2.6 g/t. The Company expects to produce a total of 24,000 to 28,000 ounces at its Marmato Operations for the full year 2016.
Further devaluation of the Colombian peso also had a positive impact on Marmato's total cash costs per once in the first quarter of 2016 compared with previous quarters and, despite a decline in head grades resulting in lower gold production that contributed to an increase in its total cash costs to $847 per ounce in the current quarter, Marmato's total cash costs per ounce were still 7% better than the first quarter last year.
Outlook
With a total of 43,542 ounces of gold produced through the first four months of 2016, the Company is well on its way towards its annual gold production guidance for 2016 of approximately 120,000 to 138,000 ounces. The results for total cash costs and AISC per ounce for the first quarter of 2016 were also in line with Gran Colombia's expectations. For the full year 2016, Gran Colombia expects its total cash costs to average between $700 and $750 per ounce, which will be influenced by the exchange rate of the Colombian peso relative to the U.S. dollar and by production volumes during the balance of the year. Gran Colombia also anticipates that its average AISC for the full year will be between $850 and $950 per ounce, reflecting an expected increase in the level of capital investment in its Segovia Operations in the second half of 2016.
Since the debt restructuring closed in January 2016, holders of the 2018 Debentures and the 2020 Debentures have elected to convert $2.3 million and $0.7 million, respectively, into a total of 23.5 million common shares, increasing the issued and outstanding common shares to a total of 137,074,520 and reducing the principal amounts of the 2018 Debentures and 2020 Debentures to $68.8 million and $103.3 million, respectively, at May 12, 2016.
Webcast
As a reminder, the Company will host a conference call and webcast on Friday, May 13, 2016 at 9:30 a.m. Eastern Time to discuss the results.
Webcast and call-in details are as follows:
Live Event link: http://edge.media-server.com/m/p/7hmyqdxe
Toronto & International: 1 (514) 841-2157
North America Toll Free: 1 (866) 215-5508
Colombia Toll Free: 01 800 9 156 924
Conference ID: 42439708
Published: Feb 25, 2016 3:45 p.m. ET
VANCOUVER, Feb. 25, 2016 (Canada NewsWire via COMTEX) -- Frank Giustra and his related entities filed an early warning report pursuant to the early warning requirements of applicable securities laws in Canada with respect to holdings in Gran Colombia Gold Corp. (the "Issuer").
Pursuant to the completion of the Issuer's debt restructuring, Frank Giustra converted Silver Notes into 16,041,913 common shares representing 14.07% of the issued and outstanding shares of the Issuer and Radcliffe Corporation, a company owned and controlled by Frank Giustra, converted Silver Notes into 11,535,940 common shares representing 10.12% of the issued and outstanding common shares of the Issuer and converted Gold Notes into US$260,371 2020 Convertible Debentures representing 1.76% of the Issuer's outstanding 2020 Convertible Debentures.
As a result of the conversions, Frank Giustra directly and indirectly, owns and or controls, in aggregate 25,577,853 common shares of the Issuer, representing 24.18% of the current issued and outstanding shares of the Issuer and would own 29,580,707 common shares, representing 25.49% on a partially diluted basis, assuming the conversion of US$260,371 2020 Convertible Debenture at US$0.13.
Mr. Giustra and his related entities acquired these securities for investment purposes and as disclosed in the Early Warning Report accompanying this news release, may in the future acquire or dispose of securities of the Company, through the market, privately or otherwise, as circumstances or market conditions warrant.
SOURCE Frank Giustra
To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/February2016/25/c3829.html
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