Featured Stories for February 27, 2024:
1. Coeur Mining Inc. CDE arranged a private placement of 7,704,725 flow-through common shares for approximately $25 million ($34 million Canadian).
Proceeds will be used for qualified Canadian exploration expenditures to conduct a mineral exploration and evaluation program on its Silvertip property in British Columbia to determine the presence and quality of silver, lead and zinc on the property.
The flow offering will be privately placed among investors in certain provinces in Canada and is expected to close on or about March 8, 2024.
2. Solitario Resources Corp. XPL discovered a new area of high-grade gold mineralization at its Golden Crest Project in South Dakota called Wild Rose.
Rock sampling has shown gold values of up to 52.9 grams per tonne and of 101 survey surface samples, 34 have contained gold values greater than 1.0 grams per tonne.
President and CEO Chris Heraldo said: “Wild Rose, combined with the wet zone to the southwest, represents a four kilometer long structural corridor with significant alteration and high grade gold values at surface. Like other previously discovered Golden Crest mineralized areas, Wild Rose was first recognized by the presence of altered carbonate float rock in the tracks of an existing jeep road. Detailed monitoring work during the latter part of the 2023 field season outlined its current surface footprint. “We anticipate that additional work between Downpour and Wild Rose will demonstrate that these two areas are one and the same.”
3. Hecla Mining Company H.L. fixed Mark P. Board as Director, effective February 23, 2024.
4. Steel Dynamics, Inc. ESTLD announced that its board of directors approved a first-quarter cash dividend of 46 cents per common share, an increase of 8% compared to its 2023 quarterly rate.
The dividend will be paid to all shareholders as of the close of March 31, 2024 and will be issued on or around April 14, 2024.
President and CEO Mark Millett commented: “We are pleased that our board of directors has taken this action, based on our confidence in the current and expected future strength of our cash flow generating capacity and our strong financial position… We have consistently increased our cash dividend to shareholders. in alignment with our structural growth initiatives, maintaining a solid cash dividend growth profile. “We believe this action reflects the strength of our capital structure and liquidity profile.”
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