However, the day after that low, Filo's share price rocketed back up on positive drill results that extended the Breccia 41 zone at Filo del Sol.įurther positive exploration news continued to drive the company's share price, culminating in a year-to-date high of C$26.58 on June 2. The company’s share price rose to reach a peak of C$24.44 on April 18 before falling through mid-May to C$16.62, during which time it shared its first quarter results. According to the company, “(Filo del Sol’s) complex geological history has created a heterogeneous orebody which is characterized by zones of very high-grade copper +/- gold +/- silver mineralization within a large envelope of more homogeneous, lower-grade mineralization.”įilo’s share price began to see significant growth in mid-March after it closed a C$100 million strategic investment from BHP Western Mining Resources, which is a subsidiary of BHP (ASX: BHP,NYSE:BHP,LSE:BHP). It is currently performing drill programs at the project. Year-to-date gain: 47.58 percent market capitalization: C$2.09 billion current share price: C$17.96įilo Mining is focused on advancing its Filo del Sol copper-gold- silver project in Chile along the Chile-Argentina border. With regards to news about its mines, the company announced that on June 17 that the first drawbell of the Hugo North mine at Oyu Tolgoi was scheduled to be fired. As for its Q2 operating and financial results, production was again lower year-on-year, but up 1 percent over Q1 at 30,600 metric tons of copper in concentrate. Copper and gold production came in lower year-on-year, but that was expected and numbers are still in line with previous guidance. In other news, in April and May, Turquoise Hill shared its Q1 operating results for Oyu Tolgoi, as well as its financial results for the same period. On May 18, the company announced amendments to the arrangement. On April 7, Turquoise Hill shared that it had created a special committee to review the proposal, although that should not be considered a guarantee that the deal will be completed. Shares continued to climb from there, hitting a year-to-date high of C$38.58 on April 13. The news drove Turquoise Hill's share price even higher, rising from C$25.68 on the previous trading day to C$34.02 on the day of the announcement. The company performed positively through mid-March, when Rio Tinto proposed a plan to buy the remaining 49.2 percent of Turquoise Hill that it does not already own for C$34 per share. The mine has been in production since 2013. Turquoise Hill itself is 50.8 percent owned by Rio Tinto (ASX: RIO,NYSE:RIO,LSE:RIO), which is the operator of Oyu Tolgoi. Oyu Tolgoi is jointly owned by Turquoise Hill (66 percent) and Mongolian government-owned entity Erdenes Oyu Tolgoi (34 percent). Turquoise Hill Resources operates the Oyu Tolgoi copper- gold mine in Mongolia, which it claims has the potential to operate for 100 years from five deposits. Year-to-date gain: 57.22 percent market capitalization: C$6.55 billion current share price: C$32.45 Top Battery Metals Stocks on the TSX and TSXV.
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