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Mining Industry Needs Strong Collective Action on Climate Change Says Barrick

TORONTO, Oct. 05, 2021 (GLOBE NEWSWIRE) — Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX) – Reducing emissions to counter the causes of climate change…

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TORONTO, Oct. 05, 2021 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX) – Reducing emissions to counter the causes of climate change requires strong collective action by the mining industry, Barrick president and chief executive Mark Bristow says.

Bristow hailed today’s collective commitment by the International Council on Mining and Metals (ICMM) to a goal of net zero greenhouse gas emissions by 2050 in line with the recommendations of the Paris Agreement and said it represented an integrated approach that struck the right balance between environmental, social and economic needs. Barrick is a member of the ICMM and its Climate Change Advisory Group.

“Barrick already has a clear scientifically based emission reduction roadmap which targets a 30% cut by 2030 against our 2018 baseline and a net zero outcome by 2050, in line with ICMM’s goal,” Bristow said.

The company’s group sustainability executive, Grant Beringer, said a series of carbon-reducing initiatives was already being implemented across Barrick’s global operations. At Nevada Gold Mines (NGM), the world’s largest gold producing complex, which is operated and majority-owned by Barrick these included projects such as the construction of a new solar power plant and the conversion of the TS power plant from coal to natural gas. These projects will support NGM’s transition from coal power to a dual energy solution which will reduce the complex’s carbon emissions by as much as 50%.

Enquiries

Investor and Media Relations
Kathy du Plessis
+44 20 7557 7738
Email: [email protected] 

Website: www.barrick.com

Cautionary Statement on Forward-Looking Information

Certain information contained or incorporated by reference in this press release, including any information as to our strategy, projects, plans or future operating performance, constitutes forward-looking statements. All statements, other than statements of historical fact, are forward-looking statements. The words “needs”, “goal”, “target”, “will”, “outcome”, “vision” and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to: Barrick’s climate strategy, Barrick’s greenhouse gas emission reduction targets and ultimate aim to achieve net zero emissions by 2050, and the potential environmental benefits of the new solar power plant being built for NGM including a reduction in the complex’s carbon emissions.

Forward-looking statements are necessarily based upon a number of estimates and assumptions including material estimates and assumptions related to the factors set forth below that, while considered reasonable by the Company as at the date of this press release in light of management’s experience and perception of current conditions and expected developments, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements and undue reliance should not be placed on such statements and information. Such factors include, but are not limited to: failure to comply with environmental and health and safety laws and regulations; non-renewal of key licences by governmental authorities; changes in national and local government legislation, taxation, controls or regulations and/or changes in the administration of laws, policies and practices; expropriation or nationalization of property and political or economic developments in Canada, the United States and other jurisdictions in which the Company or its affiliates do or may carry on business in the future; timing of receipt of, or failure to comply with, necessary permits and approvals; lack of certainty with respect to foreign legal systems, corruption and other factors that are inconsistent with the rule of law; risks associated with new diseases, epidemics and pandemics, including the effects and potential effects of the global Covid-19 pandemic; damage to the Company’s reputation due to the actual or perceived occurrence of any number of events, including negative publicity with respect to the Company’s handling of environmental matters or dealings with community groups, whether true or not; risk of loss due to acts of war, terrorism, sabotage and civil disturbances; litigation and administrative proceedings; contests over title to properties, particularly title to undeveloped properties, or over access to water, power and other required infrastructure; risks associated with working with partners in jointly controlled assets; employee relations including loss of key employees; and increased costs and physical risks, including extreme weather events and resource shortages, related to climate change. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion, copper cathode or gold or copper concentrate losses (and the risk of inadequate insurance, or inability to obtain insurance, to cover these risks).

Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this press release are qualified by these cautionary statements. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities for a more detailed discussion of some of the factors underlying forward-looking statements and the risks that may affect Barrick’s ability to achieve the expectations set forth in the forward-looking statements contained in this press release.

We disclaim any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law. 


Today’s News

Gran Colombia Declares Monthly Dividend to Be Paid on November 15, 2021; Renews Normal Course Issuer Bid for Its Common Shares

TORONTO, Oct. 15, 2021 (GLOBE NEWSWIRE) — Gran Colombia Gold Corp. (“Gran Colombia” or the “Company”) (TSX: GCM, OTCQX: TPRFF) announced today…

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TORONTO, Oct. 15, 2021 (GLOBE NEWSWIRE) -- Gran Colombia Gold Corp. (“Gran Colombia” 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 November 15, 2021 to shareholders of record as of the close of business on October 29, 2021.

Renewal of Normal Course Issuer Bid

Gran Colombia also announced today that it has filed with the Toronto Stock Exchange (the “TSX”), and the TSX has accepted, a notice of intention to make a normal course issuer bid (the “NCIB”) for its common shares trading under the symbol GCM (the “Shares”). The NCIB will allow the Company to purchase for cancellation up to 9,570,540 Shares of the Company over a 12-month period, representing 10% of the current issued and outstanding Shares in the public float as of October 6, 2021. As at October 6, 2021, the Company had a total of 98,485,775 Shares issued and outstanding.

The NCIB will commence on October 20, 2021 and terminate on October 19, 2022, or such earlier date on which purchases under the NCIB have been completed. Purchases of Shares under the NCIB will be made through the facilities of the TSX or other alternative Canadian trading systems at the market price of the Shares at the time of acquisition. The average daily trading volume of the Shares for the six months ended September 30, 2021 was 345,204 Shares. Daily purchases will be limited to 86,301 Shares, other than block purchase exceptions. Shares purchased under the NCIB will be cancelled. Pursuant to a previous notice of intention to conduct a normal course issuer bid, under which the Company sought and received approval from the TSX to purchase up to 5,934,811 Shares, the Company purchased 1,536,100 Shares for cancellation through the facilities of the TSX at a volume weighted average trading price of $5.93 per Share during the period from September 4, 2020 to September 3, 2021.

Gran Colombia has entered into an automatic share purchase plan with a broker in connection with the NCIB to allow for the purchase of Shares during certain pre-determined blackout periods. Outside of these pre-determined blackout periods, Shares will be purchased at the discretion of senior management of Gran Colombia.

Gran Colombia believes that the Shares may from time to time trade in a price range that does not adequately reflect the value of the Shares in relation to its activities and future prospects. Accordingly, the Board of Directors of Gran Colombia has determined that the repurchase of Shares pursuant to the NCIB presently constitutes an appropriate use of financial resources and would be in the best interest of the Company’s shareholders.

About Gran Colombia Gold Corp.

Gran Colombia is a mid-tier gold producer with a proven track record of mine building and operating in Latin America. In Colombia, the Company is currently the largest underground gold and silver producer with several mines in operation at its high-grade Segovia Operations. In Guyana, the Company is advancing the Toroparu Project, one of the largest undeveloped gold projects in the Americas. Gran Colombia also owns an approximately 44% equity interest in Aris Gold Corporation (TSX: ARIS) (Colombia – Marmato), an approximately 27% equity interest in Denarius Silver Corp. (TSX-V: DSLV) (Spain – Lomero-Poyatos; Colombia – Guia Antigua and Zancudo) and an approximately 26% equity interest in Western Atlas Resources Inc. (TSX-V: WA) (Nunavut – Meadowbank).

Additional information on Gran Colombia can be found on its website at www.grancolombiagold.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 production guidance, 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 Gran Colombia 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, 2021 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 Gran Colombia 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
[email protected]


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Today’s News

Salazar Resources Announces Results of Annual General Meeting

Vancouver, British Columbia–(Newsfile Corp. – October 15, 2021) – SALAZAR RESOURCES LIMITED (TSXV: SRL) (OTCQX: SRLZF) (FSE: CCG) ("Salazar Resources"…

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Vancouver, British Columbia--(Newsfile Corp. - October 15, 2021) - SALAZAR RESOURCES LIMITED (TSXV: SRL) (OTCQX: SRLZF) (FSE: CCG) ("Salazar Resources" or the "Company") announces that at the annual general meeting of shareholders of the Company (the "Meeting") held on October 14th, 2021, the shareholders elected Messrs. Fredy Salazar, Pablo Acosta, Nick DeMare, Etienne Walter, Merlin Marr-Johnson and Ms. Mary Gilzean as directors of the Company. The shareholders also passed all other resolutions including an ordinary resolution to ratify and approve the Company's existing stock option plan, pursuant to which the Company may grant stock options up to 10% of its issued and outstanding common shares at the time of the grant, subject to the number of common shares of the Company reserved for issuance pursuant to stock options and restricted share units being equal to or less than 10% of the number of common shares of the Company issued and outstanding on the applicable grant date.

Following the Meeting, the directors appointed Mr. Fredy Salazar as President and Chief Executive Officer of the Company, Mr. Pablo Acosta as Chief Financial Officer and Mr. Merlin Marr-Johnson as Executive Vice-President and Corporate Secretary. The Board also appointed Mr. Nick DeMare, Mr. Etienne Walter and Ms. Mary Gilzean to the audit committee.

About Salazar

Salazar Resources is focused on creating value and positive change through discovery, exploration and development in Ecuador. The team has an unrivalled understanding of the geology in-country and has played an integral role in the discovery of many of the major projects in Ecuador, including the two newest operating gold and copper mines.

Salazar Resources has a wholly owned pipeline of copper-gold exploration projects across Ecuador with a strategy to make another commercial discovery and farm-out non-core assets. The Company actively engages with Ecuadorian communities and together with the Salazar family it co-founded The Salazar Foundation, an independent non-profit organisation dedicated to sustainable progress through economic development.

The Company already has carried interests in three projects. At its maiden discovery, Curipamba, Salazar Resources has a 25% stake fully carried through to production. A feasibility study is underway and a 2019 PEA generated a base case NPV (8%) of US$288 million. At two copper-gold porphyry projects, Pijili and Santiago, the Company has a 20% stake fully carried through to a construction decision.

For further information from Salazar please contact Merlin Marr-Johnson, Executive Vice President and Corporate Secretary at [email protected] or [email protected].

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/99782

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Today’s News

Skeena Receives Option Notice from Hochschild on Snip Gold Project

VANCOUVER, BC / ACCESSWIRE / October 15, 2021 / Skeena Resources Limited (TSX:SKE)(OTCQX:SKREF) ("Skeena" or the "Company") announces that Hochschild Mining…

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VANCOUVER, BC / ACCESSWIRE / October 15, 2021 / Skeena Resources Limited (TSX:SKE)(OTCQX:SKREF) ("Skeena" or the "Company") announces that Hochschild Mining PLC ("Hochschild"), through a wholly owned subsidiary, has notified Skeena of its intention to take over as operator of the Snip gold project ("Snip" or the "Project"), located in the Golden Triangle of British Columbia, and begin spending to earn 60% of Skeena's interest in the Project, in accordance with the heads of agreement dated as of September 19, 2018 (as amended, "HOA"). In order to earn 60% interest, Hochschild will need to incur expenditures of approximately C$100 million during the Option Period, which commenced on October 14, 2021. After completion of the earn-in, a joint venture would be established between the parties, and Skeena would be entitled to anti-dilution protection of up to C$15 million.

Skeena's CEO, Walter Coles Jr. commented, "The Hochschild team has a reputation for being among the best underground miners in the world for narrow, high-grade deposits and we are fortunate to have them as our formal partner on Snip going forward. Skeena's shareholders will benefit from Hochschild spending a potential C$115 million at Snip, before the Company would be required to contribute. This will allow the Skeena management team to focus resources on aggressively exploring and advancing Eskay Creek."

In accordance with the terms of the HOA, Hochschild shall have three years (the "Option Period") within which to exercise the option (the "Hochschild Option") and earn 60% of Skeena's interest in Snip by:

  • incurring exploration and development expenditures on Snip that are no less than twice the amount of the expenditures incurred by Skeena on Snip from March 23, 2016. As of October 13, 2021, Skeena has incurred approximately C$50 million of exploration and development expenditures at Snip; and
  • incurring no less than C$7.5 million in exploration or development expenditures on Snip in each 12-month period of the Option Period (or make payments to Skeena in lieu of incurring such expenditures) (the "Minimum Annual Expenditure Commitment").

After completing a minimum spend of C$22.5 million, Hochschild may extend the Option Period by a further period of 12 months by making a cash payment to Skeena of US$1 million. Hochschild can terminate the Option at any time and if Hochschild has not satisfied the Minimum Annual Expenditure Commitment for the relevant 12-month period of the Option Period, Hochschild will be required to pay Skeena the difference between C$7.5 million and the amount it did incur (pro-rated if terminated after 12 months).

Upon the satisfaction of the above conditions during the Option Period, Hochschild will acquire 60% of Skeena's interest in the Project and the parties will enter into a joint venture for the further development of Snip. Additionally, the HOA provides Skeena with limited anti-dilution protections which entitles Skeena to be carried for $15 million spent on the Project after the joint venture is formed.

Current Resources at Snip
Skeena announced an underground constrained Mineral Resource Estimate ("MRE"), for Snip on July 21, 2020. The underground constrained Indicated resources include 244,000 ounces of gold hosted within 539,000 tonnes at an average gold grade of 14.0 g/t Au. Resources within the Inferred category include 402,000 ounces of gold hosted within 942,000 tonnes at an average gold grade of 13.3 g/t Au (Table 1).

Table 1: Snip Indicated and Inferred underground resources

Tonnes

Contained Grade

Contained Metal

(000)

Au (g/t)

Au (000 oz)

Indicated Mineral Resources
Main

502

14.3

231

Twin West

37

10.4

12

Total Indicated

539

14.0

244

Inferred Mineral Resources
Main

886

13.3

379

Twin West

56

12.4

23

Total Inferred

942

13.3

402

  • Resources are quoted at a 2.5 g/t Au cut-off grade.
  • Resources have been reported in-situ and undiluted within potentially economic and minable underground longhole stope shapes.
  • Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the mineral resources estimated will be converted into mineral reserves
  • In accordance with NI 43-101 recommendations, the number of metric tonnes and ounces were rounded to the nearest thousand. Any discrepancies in the totals are due to rounding effects

About Skeena
Skeena Resources Limited is a Canadian mining exploration and development company focused on revitalizing the past-producing Eskay Creek gold-silver mine located in Tahltan Territory in the Golden Triangle of northwest British Columbia, Canada. The Company released a Prefeasibility Study for Eskay Creek in July 2021 which highlights an open-pit average grade of 4.57 g/t AuEq, an after-tax NPV5% of C$1.4B, 56% IRR, and a 1.4-year payback at US$1,550/oz Au. Skeena is currently completing both infill and exploration drilling to advance Eskay Creek to full Feasibility by Q1 2022.

On behalf of the Board of Directors of Skeena Resources Limited,

Walter Coles Jr.
President & CEO

Contact Information
Investor Inquiries: [email protected]
Office Phone: +1 604 684 8725
Company Website: www.skeenaresources.com

The scientific and technical information in this press release was approved by Paul Geddes, P.Geo., a Qualified person as defined under National Instrument 43-101 and Vice President, Exploration and Resource Development for the Company.

Cautionary Note Regarding Forward-Looking Statements
Certain statements made and information contained herein may constitute "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian and United States securities legislation. These statements and information are based on facts currently available to the Company and there is no assurance that actual results will meet management's expectations. Forward-looking statements and information may be identified by such terms as "anticipates", "believes", "targets", "estimates", "plans", "expects", "may", "will", "could" or "would". Forward-looking statements and information contained herein are based on certain factors and assumptions regarding, among other things, the estimation of mineral resources and reserves, the realization of resource and reserve estimates, metal prices, taxation, the estimation, timing and amount of future exploration and development, capital and operating costs, the availability of financing, the receipt of regulatory approvals, environmental risks, title disputes and other matters. While the Company considers its assumptions to be reasonable as of the date hereof, forward-looking statements and information are not guarantees of future performance and readers should not place undue importance on such statements as actual events and results may differ materially from those described herein. The Company does not undertake to update any forward-looking statements or information except as may be required by applicable securities laws.

Neither the Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Skeena Resources Limited



View source version on accesswire.com:
https://www.accesswire.com/668295/Skeena-Receives-Option-Notice-from-Hochschild-on-Snip-Gold-Project

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