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BAA is extremely bullish at this point in time.
Stocks Fire Higher Prior to Jobs Report
Posted: 5/7/2015 4:15 PM ET
The U.S. equity markets bounced back from two days of solid declines with stocks finishing the session higher as traders await tomorrow's release of the widely followed non-farm payrolls report. Treasuries and the U.S. dollar were also higher with domestic economic data for the day a bit on the lighter side, while gold and crude oil prices were lower and corporate earnings reports continued to drive some action on the Street.
The Dow Jones Industrial Average (DJIA) advanced 82 points (0.5%) to 17,924, the S&P 500 Index gained 8 points (0.4%) to 2,088, and the Nasdaq Composite increased 26 points (0.5%) to 4,957. In moderately-heavy volume, 804 million shares were traded on the NYSE and 2.0 billion shares changed hands on the Nasdaq. WTI crude slid $1.99 to $58.94 per barrel, wholesale gasoline was $0.05 lower at $1.99 per gallon, and the Bloomberg gold spot price decreased $8.91 to $1,183.33 per ounce. Elsewhere, the Dollar Index—a comparison of the U.S. dollar to six major world currencies—was 0.6% higher at 94.61.
Whole Foods Market Inc. (WFM $43) reported fiscal 2Q earnings-per-share (EPS) ex-items of $0.43, inline with the FactSet estimate, as revenues increased 9.8% year-over-year (y/y) to $3.6 billion, compared to the forecasted $3.7 billion. 2Q same-store sales rose 3.6% y/y, below the 5.2% growth that was projected. WFM issued a softer-than-expected full-year revenue growth forecast and shares finished sharply lower.
Tesla Motors Inc. (TSLA $237) posted a 1Q loss of $0.36 per share, versus the estimated $0.50 per share shortfall, with revenues jumping 55.0% y/y to $1.1 billion, above the projected $1.0 billion. Analysts were upbeat by the company's better-than-expected results, which included meeting its gross margin guidance for the first time in three quarters and reiterating its full-year delivery guidance. However, shares were lower as its 1Q cash burn rate disappointed and its forecasted increased inventory build is exacerbating concerns that it will continue to drain cash.
Alibaba Group Holding Ltd. (BABA $86) reported fiscal 4Q EPS ex-items of $0.48, above the $0.42 estimate, as revenues rose 45.0% y/y to $2.8 billion, roughly inline with forecasts. The Chinese e-commerce company said its active users on its mobile platforms rose quarter-over-quarter (q/q) and y/y, while its mobile transactions accounted for a majority of its total transactions. Separately, the company said its current Chief Operating Officer, Daniel Zhang will become its new Chief Executive Officer. BABA closed decisively higher.
Keurig Green Mountain Inc. (GMCR $98) announced fiscal 2Q earnings of $1.03, two cents shy of expectations, as revenues rose 2.0% y/y to $1.1 billion, below the forecasted $1.2 billion. The maker of coffee brewing systems said it saw a slower-than-expected transition to its Keurig 2.0 system, while it is taking actions to reduce brewer inventories and enhance its 2.0 brewer packaging. GMCR lowered its full-year guidance and shares traded sharply lower.
Consumer credit helped by rebound in revolving debt and jobless claims lower than expected
Consumer credit, released in the final hour of trading, showed consumer borrowing expanded by the most in eight months to $20.5 billion during March, well north of the $15.8 billion forecast of economists polled by Bloomberg, while February's figure was adjusted downward to an increase of $14.8 billion from the originally reported $15.5 billion. Non-revolving debt, which includes student loans and loans for vehicles and mobile homes, rose $16.2 billion, while revolving debt, which includes credit cards, advanced by $4.4 billion.
Weekly initial jobless claims (chart) rose by 3,000 to 265,000 last week, below the 278,000 Bloomberg estimate, as the prior week's figure was unrevised at 262,000. The four-week moving average declined by 4,250 to 279,500, while continuing claims decreased 28,000 to 2,228,000, south of the forecasted 2,270,000 level.
Treasuries were mostly higher, with the yield on the 2-year note losing 1 basis point (bp) to 0.63%, the yield on the 10-year note dropping 6 bps to 2.18% and the 30-year bond rate falling 9 bps to 2.91%.
Tomorrow will bring the headlining data piece for the week's U.S. economic calendar, in the form of the April nonfarm payroll report, projected to show 230,000 jobs were gained after posting a disappointing rise of 126,000 jobs in March. Private sector employment is estimated to rebound by 225,000 jobs after March's gain of 129,000. The unemployment rate is projected to dip to 5.4% from 5.5%, while average hourly earnings are expected to rise 0.2% month-over-month (m/m) following March's 0.3% gain. The report could give the Fed some confidence that the soft patch for the economy in 1Q was due to "transitory factors." The wage figure is an area of the report that may garner heightened attention due to its inflation implications and given the recent rally in bond yields.
See Schwab's Chief Investment Strategist, Liz Ann Sonders', and Windhaven Investment Management's Chief Investment Strategist, Christian Menegatti's, Ph.D., article, Who Is Afraid of the Inflation Ogre?, which notes that the disinflationary scenario the U.S. is enjoying could turn into a mild inflation scare until the Fed catches up. Schwab's Chief Fixed Income Strategist, Kathy Jones adds in her article, The Fed's Message: Steady for Now, it will take several months’ worth of data to assess the magnitude of the rebound in economic growth after the weak first quarter. For now, the message is that the Fed still appears to be in “wait and see” mode. Read both articles at www.schwab.com/marketinsight.
The domestic docket for tomorrow will also bring about the latest report on wholesale inventories, with economists expecting a 0.3% m/m increase for March, matching the increase seen in February.
Europe mixed, Asia lower
The European equity markets finished mixed on Election Day in the U.K., with no clear indication of one party gaining a majority of seats in parliament, while Greek debt deal uncertainty remained ahead of a key meeting on Monday, though Greece's equity markets rallied. Technology issues led to the upside courtesy of some upbeat results out of the sector, while March German factory orders rose by a smaller amount than expected and France's trade deficit came in wider than expected in March.
Stocks in Asia finished lower on the heels of yesterday's disappointing employment data out of the U.S., as well as concerns about the recent rally in interest rates in the U.S. and Europe. Also, growth concerns out of Australia following some disappointing data and festering uneasiness in China regarding restrictions to curb speculation in the equity markets and liquidity fears as IPOs are set to hit the market weighed on sentiment. Australia reported an unexpected drop in the nation's employment change, while Japanese markets returned to action following a three-day holiday, with exporters being hamstrung by strength in the yen. Finally, India's S&P BSE Sensex 30 Index entered correction territory, as heavy selling from foreign investors continued.
The international economic calendar for tomorrow will yield reports on industrial production and trade data from Germany, house prices and trade data from the U.K., and industrial production from Italy.
Schwab Center for Financial Research - Market Analysis Group
©2015 Charles Schwab & Co., Inc., Member SIPC. All rights reserved.
Schwab Center for Financial Research ("SCFR") is a division of Charles Schwab & Co., Inc. The information contained herein is obtained from third-party sources and believed to be reliable, but its accuracy or completeness is not guaranteed. This report is for informational purposes only and is not a solicitation, or a recommendation that any particular investor should purchase or sell any particular security. The investment information mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. All expressions of opinions are subject to change without notice in reaction to shifting market conditions.
1 - IB1
Schwab or its affiliates has managed or co-managed a public offering of securities for this company in the past 12 months.
2 - SO2
Schwab and/or its officers own options, rights or warrants to purchase the securities of this company.
(0515-3365)
Totally agree on BAA. Glad I bought in at .2059.
Well put Swing!
Thanks Neuro
Currently holding DBO,BAA,LSG & OLO. Results are mixed but close to even currently.
I am liking the ETF's as well.
Added OLO today at $7.96, I'm really liking Oil right now.
Speaking of Oil. I added OLO today and holding DBO.
Today DBO HOD was $15.50 so far.
I'll have to check it out.
Makes sense. I bought my DBO as a more speculative purchase. Holding because with Memorial Day coming gas prices always rise plus this particular ETF had no commission attached to it. I was able to add at the actual pps with no commission.
Go figure, right?
Following DGAZ as well.
DBO up .25 cents so far today
DBO up .16 cents
NYCB DD Notes ----------
$NYCB recent news/filings
## source: finance.yahoo.com
Wed, 29 Apr 2015 11:30:46 GMT ~ New York Community Bancorp posts 1Q profit
read full: http://sg.finance.yahoo.com/news/york-community-bancorp-posts-1q-113046268.html
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Wed, 29 Apr 2015 11:30:46 GMT ~ New York Community Bancorp posts 1Q profit
read full: http://finance.yahoo.com/news/york-community-bancorp-posts-1q-113046170.html
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Wed, 29 Apr 2015 11:07:04 GMT ~ Q1 2015 New York Community Bancorp Inc Earnings Release - Before Market Open
read full: http://biz.yahoo.com/research/earncal/20150429.html?t=nycb
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Wed, 29 Apr 2015 11:00:00 GMT ~ New York Community Bancorp, Inc. Reports 1Q 2015 Diluted Non-GAAP Cash Earnings Per Share of $0.29 (1) and Diluted GAAP Earnings Per Share of $0.27
[Business Wire] - New York Community Bancorp, Inc. today reported GAAP earnings of $119.3 million, or $0.27 per diluted share, for the three months ended March 31, 2015, as compared to $131.2 million, or $0.30 per diluted share, in the trailing quarter and $115.3 million, or $0.26 per diluted share, in the year-earlier three months.
read full: http://finance.yahoo.com/news/york-community-bancorp-inc-reports-110000709.html
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Sat, 28 Mar 2015 00:52:59 GMT ~ Are Banks Running Scared of Medallion Loans?
read full: http://www.investopedia.com/stock-analysis/032715/are-banks-running-scared-medallion-loans-nycb-taxi.aspx?partner=YahooSA
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$NYCB charts
basic chart ## source: stockcharts.com
basic chart ## source: stockscores.com
big daily chart ## source: stockcharts.com
big weekly chart ## source: stockcharts.com
$NYCB company information
## source: otcmarkets.com
Link: http://www.otcmarkets.com/stock/NYCB/company-info
Ticker: $NYCB
OTC Market Place: Not Available
CIK code: 0000910073
Company name: New York Community Bancorp, Inc.
Company website: http://www.qcsb.com
Incorporated In: DE, USA
$NYCB share structure
## source: otcmarkets.com
Market Value: $7,591,699,719 a/o May 04, 2015
Shares Outstanding: 440,353,812 a/o Feb 22, 2013
Float: Not Available
Authorized Shares: Not Available
Par Value: 0.01
$NYCB extra dd links
Company name: New York Community Bancorp, Inc.
Company website: http://www.qcsb.com
## STOCK DETAILS ##
After Hours Quote (nasdaq.com): http://www.nasdaq.com/symbol/NYCB/after-hours
Option Chain (nasdaq.com): http://www.nasdaq.com/symbol/NYCB/option-chain
Historical Prices (yahoo.com): http://finance.yahoo.com/q/hp?s=NYCB+Historical+Prices
Company Profile (yahoo.com): http://finance.yahoo.com/q/pr?s=NYCB+Profile
Industry (yahoo.com): http://finance.yahoo.com/q/in?s=NYCB+Industry
## COMPANY NEWS ##
Market Stream (nasdaq.com): http://www.nasdaq.com/symbol/NYCB/stream
Latest news (otcmarkets.com): http://www.otcmarkets.com/stock/NYCB/news - http://finance.yahoo.com/q/h?s=NYCB+Headlines
## STOCK ANALYSIS ##
Analyst Research (nasdaq.com): http://www.nasdaq.com/symbol/NYCB/analyst-research
Guru Analysis (nasdaq.com): http://www.nasdaq.com/symbol/NYCB/guru-analysis
Stock Report (nasdaq.com): http://www.nasdaq.com/symbol/NYCB/stock-report
Competitors (nasdaq.com): http://www.nasdaq.com/symbol/NYCB/competitors
Stock Consultant (nasdaq.com): http://www.nasdaq.com/symbol/NYCB/stock-consultant
Stock Comparison (nasdaq.com): http://www.nasdaq.com/symbol/NYCB/stock-comparison
Investopedia (investopedia.com): http://www.investopedia.com/markets/stocks/NYCB/?wa=0
Research Reports (otcmarkets.com): http://www.otcmarkets.com/stock/NYCB/research
Basic Tech. Analysis (yahoo.com): http://finance.yahoo.com/q/ta?s=NYCB+Basic+Tech.+Analysis
Barchart (barchart.com): http://www.barchart.com/quotes/stocks/NYCB
DTCC (dtcc.com): http://search2.dtcc.com/?q=New+York+Community+Bancorp%2C+Inc.&x=10&y=8&sp_p=all&sp_f=ISO-8859-1
Spoke company information (spoke.com): http://www.spoke.com/search?utf8=%E2%9C%93&q=New+York+Community+Bancorp%2C+Inc.
Corporation WIKI (corporationwiki.com): http://www.corporationwiki.com/search/results?term=New+York+Community+Bancorp%2C+Inc.&x=0&y=0
WHOIS (domaintools.com): http://whois.domaintools.com/http://www.qcsb.com
Alexa (alexa.com): http://www.alexa.com/siteinfo/http://www.qcsb.com#
Corporate website internet archive (archive.org): http://web.archive.org/web/*/http://www.qcsb.com
## FUNDAMENTALS ##
Call Transcripts (nasdaq.com): http://www.nasdaq.com/symbol/NYCB/call-transcripts
Annual Report (companyspotlight.com): http://www.companyspotlight.com/library/companies/keyword/NYCB
Income Statement (nasdaq.com): http://www.nasdaq.com/symbol/NYCB/financials?query=income-statement
Revenue/EPS (nasdaq.com): http://www.nasdaq.com/symbol/NYCB/revenue-eps
SEC Filings (nasdaq.com): http://www.nasdaq.com/symbol/NYCB/sec-filings
Edgar filings (sec.gov): http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000910073&owner=exclude&count=40
Latest filings (otcmarkets.com): http://www.otcmarkets.com/stock/NYCB/filings
Latest financials (otcmarkets.com): http://www.otcmarkets.com/stock/NYCB/financials
Short Interest (nasdaq.com): http://www.nasdaq.com/symbol/NYCB/short-interest
Dividend History (nasdaq.com): http://www.nasdaq.com/symbol/NYCB/dividend-history
RegSho (regsho.com): http://www.regsho.com/tools/symbol_stats.php?sym=NYCB&search=search
OTC Short Report (otcshortreport.com): http://otcshortreport.com/index.php?index=NYCB
Short Sales (otcmarkets.com): http://www.otcmarkets.com/stock/NYCB/short-sales
Key Statistics (yahoo.com): http://finance.yahoo.com/q/ks?s=NYCB+Key+Statistics
Insider Roster (yahoo.com): http://finance.yahoo.com/q/ir?s=NYCB+Insider+Roster
Income Statement (yahoo.com): http://finance.yahoo.com/q/is?s=NYCB
Balance Sheet (yahoo.com): http://finance.yahoo.com/q/bs?s=NYCB
Cash Flow (yahoo.com): http://finance.yahoo.com/q/cf?s=NYCB+Cash+Flow&annual
## HOLDINGS ##
Major holdings (cnbc.com): http://data.cnbc.com/quotes/NYCB/tab/8.1
Insider transactions (yahoo.com): http://finance.yahoo.com/q/it?s=NYCB+Insider+Transactions
Insider transactions (secform4.com): http://www.secform4.com/insider-trading/NYCB.htm
Insider transactions (insidercrow.com): http://www.insidercow.com/history/company.jsp?company=NYCB
Ownership Summary (nasdaq.com): http://www.nasdaq.com/symbol/NYCB/ownership-summary
Institutional Holdings (nasdaq.com): http://www.nasdaq.com/symbol/NYCB/institutional-holdings
Insiders (SEC Form 4) (nasdaq.com): http://www.nasdaq.com/symbol/NYCB/insider-trades
Insider Disclosure (otcmarkets.com): http://www.otcmarkets.com/stock/NYCB/insider-transactions
## SOCIAL MEDIA AND OTHER VARIOUS SOURCES ##
PST (pennystocktweets.com): http://www.pennystocktweets.com/stocks/profile/NYCB
Market Watch (marketwatch.com): http://www.marketwatch.com/investing/stock/NYCB
Bloomberg (bloomberg.com): http://www.bloomberg.com/quote/NYCB:US
Morningstar (morningstar.com): http://quotes.morningstar.com/stock/s?t=NYCB
Bussinessweek (businessweek.com): http://investing.businessweek.com/research/stocks/snapshot/snapshot_article.asp?ticker=NYCB
$NYCB DD Notes ~ http://www.ddnotesmaker.com/NYCB
NYCB - a bank stock with an excellent dividend. I'll be looking to add this to my long term dividend plays in the I Box.
Good Morning WINNERS CIRCLE! Looks like gold will open higher this morning. Have to see how it translates for BAA and LSG but should see some more upward movement today.
LSG 6-K out detains expansion plans ------- Source: Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of May 2015.
Commission File Number: 001-35197
LAKE SHORE GOLD CORP.
(Translation of registrant’s name into English)
181 University Avenue, Suite 2000, Toronto, Ontario Canada M5H 3M7
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F o Form 40-F x
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ____
Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ____
Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
LAKE SHORE GOLD CORP.
Date: May 4, 2015 By: /s/ Alasdair Federico
Name: Alasdair Federico
Title: VP, General Counsel & Secretary
EXHIBITS
Exhibit No.
Exhibit Description
99.1
Press Release, dated May 4, 2015, announcing an expansion of Lake Shore Gold Corp.’s current exploration program at the 144 Exploration area by approximately $7.0 million, and a new $6.0 million underground exploration program at Bell Creek Mine.
Exhibit 99.1
Logo
EXPLORATION SUCCESS DRIVES EXPANSION OF 144, BELL CREEK DRILL PROGRAMS, LAKE SHORE GOLD REPORTS
TORONTO, ONTARIO -- (Marketwired – May 4, 2015) – Lake Shore Gold Corp. (TSX:LSG) (NYSE MKT:LSG) ("Lake Shore Gold" or the “Company") today announced an expanded exploration program at the 144 Gap Zone, the launch of a new program to explore the 144 Trend to the southwest towards the 144 North and 144 South areas, as well as the addition of a new underground exploration program at the Bell Creek Complex.
Tony Makuch, President and CEO of Lake Shore Gold, commented: “Success drives growth and that is what we are seeing at both the 144 Gap Zone and Bell Creek. Over the last few years, our business has been focused on stabilizing our operations and achieving our key performance targets, generating cash, reducing debt and building overall financial strength. We have achieved success in all of these areas. We are now in a position to pursue growth, both in terms of building out mine life and pursuing opportunities to grow production. We have already been successful in establishing a substantial zone of gold mineralization at the 144 Gap, and in significantly increasing reserves at Bell Creek. The work we are adding at both locations is designed to build on the momentum we have established and to move us forward rapidly in realizing the full potential of our assets.
“Looking specifically at Timmins West, we believe our land position in this area has the potential to become a large-scale gold mining complex with multiple gold deposits. To date, we have succeeded in discovering, developing and bringing into production two deposits, Timmins Deposit and Thunder Creek, and in now identifying another substantial zone, the 144 Gap Zone. The objectives of our enhanced exploration program in the area during 2015 are to rapidly advance the 144 Gap Zone towards production and, secondly, to demonstrate the considerable potential of Timmins West as a whole to evolve into a major gold mining centre in the Timmins Camp.”
The new work at 144 is expected to add $7.0 million to the Company’s exploration expenditures in 2015, while the additional drilling and development at Bell Creek will involve approximately $6.0 million of new expenditures.
At 144, the 60,000 metres of new drilling will include approximately 50,000 metres of surface drilling and 10,000 metres of drilling from underground. The Company also plans to undertake a new surface geophysical exploration program. The current program at 144 involves a combined total of 120,000 metres of diamond drilling, 90,000 metres from surface and 30,000 metres from underground, and the excavation of a 1,200 metre underground exploration drift to provide a drill platform. To date, approximately half of the 90,000 metre surface drilling program has been completed, with the underground exploration drift having advanced approximately 450 metres
Of the new surface drilling metres at 144, 5,000 metres will focus on extending and expanding the 144 Gap Zone discovery, a large zone of gold mineralization identified to minimum dimensions of 400 metres along strike and 400 metres down dip. The remaining 45,000 metres will be directed along the 144 Trend towards 144 North and 144 South, both highly prospective exploration targets. Total surface drilling at 144 in 2015 is now expected to total approximately 140,000 metres. The new surface geophysical program will include surface and borehole geophysical surveys to be completed southwest of the 144 Gap Zone as well as on the western extension of the Gold River Trend, another highly prospective exploration target.
The new underground drilling at the 144 Gap Zone will increase the 2015 underground drilling program from 30,000 metres to 40,000 metres. The additional drilling is a result of the success of recent surface drilling in identifying a zone of gold mineralization that is larger than envisioned in the original underground program. The 10,000 additional metres is also intended to increase the proportion of measured and indicated resources to be included in the first resource estimate for the 144 Gap Zone, to be released as part of the Company’s next reserve and resource update early in 2016.
At Bell Creek, the Company is adding 32,500 metres of underground drilling and 800 metres of development for an underground drill platform. The new drilling and development work is intended to increase the size of the reserve and resource base at Bell Creek in order to further extend mine life as well as provide important information to assist the Company in evaluating longer-term options for mine production from the Labine Deep Zone.
Of the increased drilling and development at Bell Creek, 15,500 metres of drilling and 150 metres of development are designed to accelerate exploration and the conversion of resources to reserves between the 775 and 1100 levels. An additional 17,000 metres of drilling and 650 metres of development will focus on upgrading inferred resources, exploring for new resources below the 1100 Level and for new discoveries.
Qualified Person
Scientific and technical information related to resources, exploration drilling and all matters involving mine production geology contained in this press release, or source material for this press release, was reviewed and approved by Eric Kallio, P.Geo., Senior Vice-President, Exploration. Mr. Kallio is an employee of Lake Shore Gold Corp., and is a “qualified person” as defined by NI 43-101.
Scientific and technical information contained in this press release related to production activities and reserves has been reviewed and approved by Natasha Vaz, P.Eng., Vice-President, Technical Services, who is an employee of Lake Shore Gold Corp., and a “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).
About Lake Shore Gold
Lake Shore Gold is a Canadian-based gold producer that is generating net free cash flow from its wholly owned operations in the Timmins Gold Camp. The Company produces gold from two mines, Timmins West and Bell Creek, with material being delivered for processing to the Bell Creek Mill. In addition to current operations, the Company also has a number of highly prospective projects and exploration targets, all located in and around the Timmins Camp. The Company’s common shares trade on the TSX and NYSE MKT under the symbol LSG. .
FORWARD-LOOKING STATEMENTS
Certain statements in this press release relating to the Company's expected production levels, production growth, exploration activities, potential for increasing resources, project expenditures and business plans are "forward-looking statements" or "forward-looking information" within the meaning of certain securities laws, including under the provisions of Canadian provincial securities laws and under the United States Private Securities Litigation Reform Act of 1995 and are referred to herein as "forward-looking statements." The Company does not intend, and does not assume any obligation, to update these forward-looking statements. These forward-looking statements represent management's best judgment based on current facts and assumptions that management considers reasonable, including that operating and capital plans will not be disrupted by issues such as mechanical failure, unavailability of parts, labour disturbances, interruption in transportation or utilities, or adverse weather conditions, that there are no material unanticipated variations in budgeted costs, that contractors will complete projects according to schedule, and that actual mineralization on properties will be consistent with models and will not be less than identified mineral reserves. The Company makes no representation that reasonable business people in possession of the same information would reach the same conclusions. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. In particular, delays in development or mining and fluctuations in the price of gold or in currency markets could prevent the Company from achieving its targets. Readers should not place undue reliance on forward-looking statements. More information about risks and uncertainties affecting the Company is available in the Company's most recent Annual Information Form and other regulatory filings with the Canadian Securities Administrators, which are posted on sedar at www.sedar.com, or the Company’s most recent Annual Report on Form 40-F and other regulatory filings with the Securities and Exchange Commission.
FOR FURTHER INFORMATION PLEASE CONTACT:
Tony Makuch
President & CEO
(416) 703-6298
Mark Utting
Vice-President, Investor Relations
Lake Shore Gold
(416) 703-6298
Website: www.lsgold.com
LSG 6-K released detailing expansion plans ------------- Source: Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of May 2015.
Commission File Number: 001-35197
LAKE SHORE GOLD CORP.
(Translation of registrant’s name into English)
181 University Avenue, Suite 2000, Toronto, Ontario Canada M5H 3M7
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F o Form 40-F x
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ____
Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ____
Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
LAKE SHORE GOLD CORP.
Date: May 4, 2015 By: /s/ Alasdair Federico
Name: Alasdair Federico
Title: VP, General Counsel & Secretary
EXHIBITS
Exhibit No.
Exhibit Description
99.1
Press Release, dated May 4, 2015, announcing an expansion of Lake Shore Gold Corp.’s current exploration program at the 144 Exploration area by approximately $7.0 million, and a new $6.0 million underground exploration program at Bell Creek Mine.
Exhibit 99.1
Logo
EXPLORATION SUCCESS DRIVES EXPANSION OF 144, BELL CREEK DRILL PROGRAMS, LAKE SHORE GOLD REPORTS
TORONTO, ONTARIO -- (Marketwired – May 4, 2015) – Lake Shore Gold Corp. (TSX:LSG) (NYSE MKT:LSG) ("Lake Shore Gold" or the “Company") today announced an expanded exploration program at the 144 Gap Zone, the launch of a new program to explore the 144 Trend to the southwest towards the 144 North and 144 South areas, as well as the addition of a new underground exploration program at the Bell Creek Complex.
Tony Makuch, President and CEO of Lake Shore Gold, commented: “Success drives growth and that is what we are seeing at both the 144 Gap Zone and Bell Creek. Over the last few years, our business has been focused on stabilizing our operations and achieving our key performance targets, generating cash, reducing debt and building overall financial strength. We have achieved success in all of these areas. We are now in a position to pursue growth, both in terms of building out mine life and pursuing opportunities to grow production. We have already been successful in establishing a substantial zone of gold mineralization at the 144 Gap, and in significantly increasing reserves at Bell Creek. The work we are adding at both locations is designed to build on the momentum we have established and to move us forward rapidly in realizing the full potential of our assets.
“Looking specifically at Timmins West, we believe our land position in this area has the potential to become a large-scale gold mining complex with multiple gold deposits. To date, we have succeeded in discovering, developing and bringing into production two deposits, Timmins Deposit and Thunder Creek, and in now identifying another substantial zone, the 144 Gap Zone. The objectives of our enhanced exploration program in the area during 2015 are to rapidly advance the 144 Gap Zone towards production and, secondly, to demonstrate the considerable potential of Timmins West as a whole to evolve into a major gold mining centre in the Timmins Camp.”
The new work at 144 is expected to add $7.0 million to the Company’s exploration expenditures in 2015, while the additional drilling and development at Bell Creek will involve approximately $6.0 million of new expenditures.
At 144, the 60,000 metres of new drilling will include approximately 50,000 metres of surface drilling and 10,000 metres of drilling from underground. The Company also plans to undertake a new surface geophysical exploration program. The current program at 144 involves a combined total of 120,000 metres of diamond drilling, 90,000 metres from surface and 30,000 metres from underground, and the excavation of a 1,200 metre underground exploration drift to provide a drill platform. To date, approximately half of the 90,000 metre surface drilling program has been completed, with the underground exploration drift having advanced approximately 450 metres
Of the new surface drilling metres at 144, 5,000 metres will focus on extending and expanding the 144 Gap Zone discovery, a large zone of gold mineralization identified to minimum dimensions of 400 metres along strike and 400 metres down dip. The remaining 45,000 metres will be directed along the 144 Trend towards 144 North and 144 South, both highly prospective exploration targets. Total surface drilling at 144 in 2015 is now expected to total approximately 140,000 metres. The new surface geophysical program will include surface and borehole geophysical surveys to be completed southwest of the 144 Gap Zone as well as on the western extension of the Gold River Trend, another highly prospective exploration target.
The new underground drilling at the 144 Gap Zone will increase the 2015 underground drilling program from 30,000 metres to 40,000 metres. The additional drilling is a result of the success of recent surface drilling in identifying a zone of gold mineralization that is larger than envisioned in the original underground program. The 10,000 additional metres is also intended to increase the proportion of measured and indicated resources to be included in the first resource estimate for the 144 Gap Zone, to be released as part of the Company’s next reserve and resource update early in 2016.
At Bell Creek, the Company is adding 32,500 metres of underground drilling and 800 metres of development for an underground drill platform. The new drilling and development work is intended to increase the size of the reserve and resource base at Bell Creek in order to further extend mine life as well as provide important information to assist the Company in evaluating longer-term options for mine production from the Labine Deep Zone.
Of the increased drilling and development at Bell Creek, 15,500 metres of drilling and 150 metres of development are designed to accelerate exploration and the conversion of resources to reserves between the 775 and 1100 levels. An additional 17,000 metres of drilling and 650 metres of development will focus on upgrading inferred resources, exploring for new resources below the 1100 Level and for new discoveries.
Qualified Person
Scientific and technical information related to resources, exploration drilling and all matters involving mine production geology contained in this press release, or source material for this press release, was reviewed and approved by Eric Kallio, P.Geo., Senior Vice-President, Exploration. Mr. Kallio is an employee of Lake Shore Gold Corp., and is a “qualified person” as defined by NI 43-101.
Scientific and technical information contained in this press release related to production activities and reserves has been reviewed and approved by Natasha Vaz, P.Eng., Vice-President, Technical Services, who is an employee of Lake Shore Gold Corp., and a “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).
About Lake Shore Gold
Lake Shore Gold is a Canadian-based gold producer that is generating net free cash flow from its wholly owned operations in the Timmins Gold Camp. The Company produces gold from two mines, Timmins West and Bell Creek, with material being delivered for processing to the Bell Creek Mill. In addition to current operations, the Company also has a number of highly prospective projects and exploration targets, all located in and around the Timmins Camp. The Company’s common shares trade on the TSX and NYSE MKT under the symbol LSG. .
FORWARD-LOOKING STATEMENTS
Certain statements in this press release relating to the Company's expected production levels, production growth, exploration activities, potential for increasing resources, project expenditures and business plans are "forward-looking statements" or "forward-looking information" within the meaning of certain securities laws, including under the provisions of Canadian provincial securities laws and under the United States Private Securities Litigation Reform Act of 1995 and are referred to herein as "forward-looking statements." The Company does not intend, and does not assume any obligation, to update these forward-looking statements. These forward-looking statements represent management's best judgment based on current facts and assumptions that management considers reasonable, including that operating and capital plans will not be disrupted by issues such as mechanical failure, unavailability of parts, labour disturbances, interruption in transportation or utilities, or adverse weather conditions, that there are no material unanticipated variations in budgeted costs, that contractors will complete projects according to schedule, and that actual mineralization on properties will be consistent with models and will not be less than identified mineral reserves. The Company makes no representation that reasonable business people in possession of the same information would reach the same conclusions. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. In particular, delays in development or mining and fluctuations in the price of gold or in currency markets could prevent the Company from achieving its targets. Readers should not place undue reliance on forward-looking statements. More information about risks and uncertainties affecting the Company is available in the Company's most recent Annual Information Form and other regulatory filings with the Canadian Securities Administrators, which are posted on sedar at www.sedar.com, or the Company’s most recent Annual Report on Form 40-F and other regulatory filings with the Securities and Exchange Commission.
FOR FURTHER INFORMATION PLEASE CONTACT:
Tony Makuch
President & CEO
(416) 703-6298
Mark Utting
Vice-President, Investor Relations
Lake Shore Gold
(416) 703-6298
Website: www.lsgold.com
Added DBO at $15.17
Added DBO at $15.17
Working on updating my i box this week and realigning my objective and goals for the board.
A LOT OF MY LONG TERM PLAYS ARE GOING TO POINT TOWARDS GOLD, SILVER AND LIQUID NATURAL GAS. A GOD PLACE TO LOOK WILL BE MLP'S AND ETF'S AS WEL AS INDIVIDUAL COMPANIES. I WILL NOT RULE OUT PLAYING SWING TRADES OR SHORTER TERM PLAYS AS WELL.
LSG OR LAKESHORE GOLD - PURCHASED ON 5/1/15 AT $.98. WILL HOLD AND ACCUMULATE THIS POSITION. i THINK GOLD STOCKS WILL PROVE VALUABLE IN THE NEXT FEW MONTHS. AS YOU SEE I ADDED BAA A FEW WEEKS AGO AS WELL.
BAA - BOUGHT AT .2059 CURRENTLY TRADING AT JUST UNDER .25, EXPECTING A DOUBLE IN THE NEXT FEW WEEKS. OF COURSE THE PRICE OF GOLD IS PIVITOL AS WELL.
Added LSG Friday at .98, trading at $1.06
We also know that there are some revolving pumps and SUTI is one of them. If you added right now at .0002 and sat on it, in time the same group will pump this stock to .0010-.0012.
This being said, having resources, right list and patience you could score on many of these pumps as we all know.
Absolutely remember that trade of SUTI
I added more BAA today at .2260 as well.
First mentioned BAA on 4/21 when I added at .2059.
Whatever helps BAA move sounds great to me. BAA on its own has been setting up for a nice move. Guess we have some good plays to watch tomorrow.
Swing BAA AH closed at .26
BAA released an update that was received well. We could see this move higher next week as well.
I'm looking to add more BAA as soon as the new funds clear. I think this will begin a nice growth pattern from here.
Swing you watching BAA. Bought in about 2 weeks ago at .2059 we are at .23 but it's still a good entry and looks to be continuing its uptrend.
In at .2059, just liked what I saw developing. Hoping to add more as we go forward. Like the upside here a lot.
HUSA looks like it was halted pending news.