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CORAL SPRINGS, Florida, October 22, 2013 /PRNewswire/ --
Market News reports and updates for mining sector with acquisition news, earnings and stock upgrades: DNA Precious Metals (OTCQB: DNAP), New Gold Inc. (NYSE: NGD), Freeport-McMoRan Copper & Gold (NYSE: FCX), Yamana Gold, Inc. (NYSE: AUY) Barrick Gold (NYSE: ABX) and Brigus Gold Corp. (AMEX: BRD).
DNA Precious Metals Inc. (OCTQB:DNAP) announced today that it has signed a Binding Agreement with Excel Gold Mining Inc. for an undivided one hundred (100%) interest for all of their Montauban Mine Property assets located in Notre-Dame-de-Montauban, Quebec, Canada. The 5 contiguous claims ("Mineral Claims") consist of a mining lease and a mining concession totalizing an approximate surface of 76.84 hectares. These 5 mining claims are contingent to DNA's mining claims covering an area of approximately 340 hectares on the Montauban Mine Property, and are described as Les Mines de Montauban in the Property Map on the DNA Website http://www.dnapreciousmetals.com/maps. DNA Precious Metals Inc. has fulfilled its contractual obligations under the Agreement and paid "In Trust" for the benefit of the Vendor funds and common shares of DNA Precious Metals Inc. representing a value of over $600,000 as of the date of this Release.
To read the full press release, please go to: http://www.fnmprofiles.com/profiles-dnap.php
The acquired mining assets, described as Les Mines de Montauban on the Property Map http://www.dnapreciousmetals.com/maps, are fundamental to DNA's currently 100% claimed Montauban Mine Property mining claims. This acquisition solidifies DNA Precious Metal's Montauban Mine Property bundle, while expanding exploration and mining potential and enhancing access. More importantly, the added value of this acquisition resides in the granted mining lease and underground rights that accompany the newly acquired mining claims. Reported Historical Past production from Les Mines de Montauban includes 132,000 oz gold, and 4,300,000 oz silver as well as 77,000 tons zinc, 24,000 tons lead..
New Gold Inc. ("New Gold") (NYSE: NGD) ("New Gold") announced that its New Afton Mine has successfully achieved the targeted increase in throughput to 12,000 tonnes per day, from a design capacity of 11,000 tonnes per day, three months ahead of schedule. The combination of the increased throughput, and higher grades and recoveries, resulted in increased production of both gold and copper during the third quarter at New Afton. As the company is hosting an analyst tour to New Afton on October 22, 2013, New Gold today provides preliminary third quarter production and cost results for New Afton as well as the balance of its portfolio of operating mines. The preliminary production and cost information provided reflects approximate figures and may differ slightly from the company's third quarter earnings, which will be announced on October 29, 2013.
Freeport-McMoRan Copper & Gold (NYSE: FCX) reports 3rd quarter, 2013, financial results before the opening bell on Tuesday, October 22nd. Analyst consensus is expecting $0.62 in earnings per share on $5.69 billion in revenue, for an expected y/y decline in EPS of 28% on 29% growth in revenues. The disparity between revenue growth and EPS growth is dramatic: in the 2nd quarter, FCX management guidance around the oil and gas business, which was the PXP acquisition closed in June 13. In the July 13 conference call management lowered capex and also lowered guidance on FCX based on a reduction in oil and gas volumes of 25% and 33% respectively.
A study of analyst recommendations at the major brokerages shows that Yamana Gold, Inc. (NYSE: AUY) is the #19 broker analyst pick, on average, out of the 50 stocks making up the Metals Channel Global Mining Titans Index, according to Metals Channel. The Metals Channel Global Mining Titans Index is comprised of the top fifty global leaders from the metals and mining sector. The companies listed in the Metals Channel Global Mining Titans Index are not fixed, but instead variable - updating on a continuous basis to reflect the changing market environment with respect to commodity prices, government policy and market volatility. Read the full story at http://www.forbes.com/sites/energystockchannel/2013/10/18/analyst-favorites-yamana-gold-ranks-as-a-top-metals-pick/?partner=yahootix
HSBC upgraded its stock ratings on some gold mining companies, including Barrick Gold Corp., (NYSE: ABX) noting that recent weak stock performance has "opened up value again." Demand for gold remains strong, HSBC analysts said in a note dated Sunday, and lower prices are also resulting in reduced supply. They expect gold prices to rebound again and as a result, see better value in some gold miners. The analysts upgraded shares of Barrick.
Brigus Gold Corp. (AMEX: BRD) recently reported the deepest intersection drilled to date at Black Fox. Hole GF 454-01-W intersected 40.71 grams per tonne gold over 26.75 metres, including 103.20 grams per tonne gold over 8.35 metres. This test hole was drilled from underground and intersected Black Fox mineralization at approximately 700 metres vertical from surface, extending the west zone by an additional 300m at depth. Recently the Company engaged in a limited drilling program to test the down dip extension of the Black Fox orebody. Orebodies in the region, along the Destor Porcupine Fault, often extend to depths of more than 1,000 metres. The Black Fox orebody remains open for expansion both laterally and at depth.
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