Agnico-Eagle Mines (AEM) announced second quarter adjusted earnings of $0.47 per share, which beat analyst estimates of $0.43. AEM reported gold production of 239,328 ounces and announced a $70 million strategic investment in Canadian-based Rubicon Minerals (RBY).
Goldcorp (GG) reported 2Q earnings of $0.52 per share against analyst estimates of $0.50. While revenues at Goldcorp rose 62% versus the same quarter in 2010, production in the quarter fell short of expectations. The company lowered its 2011 production guidance to 2.5 to 2.55 million ounces versus its previous figures of 2.65 to 2.75 million ounces. Lower processing rates at Goldcorp’s Penasquito mine in Mexico were cited as the reason for the production miss.
Claude Strikes at Seabee
CLAUDE RESOURCES (CRJ.TSX, CGR: AMEX) reported highlights of its 2011 underground exploration program thru June 30 at its 100% owned and operated Seabee Gold Operations in Canada. The emerging gold mining company noted that the newly discovered L62 zone is located approximately 200 meters from existing Seabee underground infrastructure in the hanging wall of the Seabee ore body and at 1,000 meters below surface.
In 2011, Claude Resources will drill approximately 86,500 meters at the Seabee Gold Operation. Exploration targets include the Seabee Gold Mine, the Santoy 8 Gold Mine, Santoy Gap, L62 and Neptune. Full Claude Resources Press Release.
In 2011, Claude Resources will drill approximately 86,500 meters at the Seabee Gold Operation. Exploration targets include the Seabee Gold Mine, the Santoy 8 Gold Mine, Santoy Gap, L62 and Neptune. Full Claude Resources Press Release.
Highlights:
* 11.47 grams of gold per tonne (cut) over 3.7 meters true width (U11-617) at Seabee Deep.
* 35.79 grams of gold per tonne (cut) over 1.2 meters true width (U10-683) at Seabee Deep.
* 6.18 grams of gold per tonne (cut) over 15.1 meters true width (SUG-11-006) at Santoy 8.
* 6.13 grams of gold per tonne (cut) over 4.8 meters true width (U11-345) at L62.
CLAUDE VS. S&P500, XAU
Philip Ng, Senior Vice President, Mining Operations:
“Underground exploration at Santoy 8 continues to prove up additional mineral resources. As a result, we are looking to increase tonnage output from Santoy 8 in 2012…Based on these encouraging results, we have moved a second diamond drill rig to accelerate exploration of this new zone."
INTERACTIVE CLAUDE RESOURCES CHART
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