Nov 19, 2019 (Investorideas.com via COMTEX) -- Point Roberts, WA and Delta, BC - November 19, 2019 (Investorideas.com Newswire) Investorideas.com, a global investor news source covering mining and metals stocks releases today's edition of Exploring Mining Podcast , featuring stock news from TSX, TSXV ,CSE, ASX, NASDAQ, NYSE companies plus interviews with CEO's and leading experts.
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Newmont Goldcorp Corporation ( NYSE:NEM ) has announced that it is looking forward to a "long and productive" partnership with Saracen Mineral Holdings Limited ( ASX:SAR ). The latter earlier agreed to purchase Barrick Gold Corporation's ( NYSE:GOLD ) 50 percent stake in Kalgoorlie Consolidated Gold Mines (KCGM). Newmont will remain the operator of KCGM and continue to manage the mine according to its leading policies and standards, according to the press release. Tom Palmer, President and CEO of Newmont said:
"We congratulate Saracen on its agreement to purchase Barrick's stake in KCGM and we look forward to partnering with them to continue delivering value at this world-class asset, safely and efficiently. KCGM and the Golden Mile offer ongoing growth and value generating opportunities in Australia, which remains a core operating region for Newmont."
Barrick Gold Corporation President and CEO Mark Bristow commented :
"The sale of our non-operating interest in KCGM represents the first step in our plan to realize in excess of $1.5 billion from the disposal of non-core assets by the end of next year. While this iconic gold mine has been a valuable contributor to Barrick over the years, the asset does not fit with our strategy of operating mines that we own. The sale allows us to further focus our portfolio on core operations."
GFG Resources Inc ( TSXV:GFG ) and its partner Newcrest Resources, a subsidiary of Newcrest Mining Limited ( ASX:NCM ), have completed their 2019 drill program at the Rattlesnake Hills Gold Project in Wyoming, United States. Brian Skanderbeg, President and CEO of GFG commented:
"We are pleased to report that we safely and successfully completed the drill program at our Rattlesnake Hills Gold Project in Wyoming. At this early stage, the drill program was a success as all three holes hit their intended targets and intersected favourable geological and structural settings. We are encouraged by the presence of broad zones of highly altered rock and look forward to receiving the assay results and further advancing the project."
African Gold Group, Inc. ( TSXV:AGG ) has encountered "significant intersections" at its drilling program at the Kobada gold project, after having completed the first three lines of drilling. Dr. Andreas Rompel, VP Exploration, explained:
"We are very happy to have intersected significant mineralization in this southern satellite zone and we are very excited to move northwards into the main zone of mineralization where the future pit is planned to be. The higher-grade intersections being above the mean grade of the 2016 Feasibility Study already indicates that we can expect very positive results. The focus on updating the structural integrity of the geological resource model over the past three months using all available drilling and regional geological information gives us an excellent understanding of the main shear zone, and this can be replicated in identifying future drilling targets in the other 26km of currently undrilled shear zones on our concession."
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