On Friday, Cenovus Energy Inc (USA) (NYSE:CVE)’s shares inclined 2.72% to $15.47.
Cenovus Energy Inc. (CVE) continues to receive global recognition for its corporate responsibility performance. The company has been comprised of in the Dow Jones Sustainability World Index for the fourth successive year and in the Dow Jones Sustainability North America Index for the sixth year in a row. Cenovus is the only North American oil and gas producer to make the World Index this year. Areas where the company scored well comprise risk and crisis administration, corporate governance, climate strategy, water administration, corporate citizenship and stakeholder engagement.
Launched in 1999, the Dow Jones Sustainability World Index was the first global sustainability benchmark. The Dow Jones Sustainability Index family, offered jointly by RobecoSAM Indices and S&P Dow Jones Indices, tracks the stock performance of the world’s leading companies in terms of economic, environmental and social criteria. The indices serve as benchmarks for investors who integrate sustainability considerations into their portfolios, and provide an effective engagement platform for companies that want to adopt sustainable best practices. More information about the selection criteria and detailed performance data is accessible at sustainability-indices.com.
Cenovus Energy Inc., an integrated oil company, develops, produces, and markets crude oil, natural gas liquids (NGLs), and natural gas in Canada with refining operations in the United States. The company’s Oil Sands segment engages in the development and production of bitumen assets at Foster Creek, Christina Lake, Narrows Lake, and the Athabasca natural gas assets, in addition to projects in the early stages of development, such as Grand Rapids and Telephone Lake. Its Conventional segment develops and produces conventional crude oil, NGLs, and natural gas in Alberta and Saskatchewan, counting the heavy oil assets at Pelican Lake.
Kinross Gold Corporation (USA) (NYSE:KGC)’s shares gained 9.47% to $1.85.
Kinross Gold Corporation (KGC) declared that it has updated its 2015 full-year guidance for all-in sustaining cost, cost of sales, capital expenditures, production and overhead.
The positive adjustments are:
- All-in sustaining cost per gold equivalent ounce (Au eq. oz.) sold guidance loweredto $975-$1,025 from $1,000-$1,100.
- Cost of sales per Au eq. oz. guidance range loweredto $690-$730 from the previous guidance range of $720-$780.
- Capital expenditure guidance loweredto $650 million from $725 million.
- Production guidance range narrowed upwardto 2.5-2.6 million Au eq. oz. from the previous guidance range of 2.4-2.6 million Au eq. oz.
- Overhead (general and administrative, and business development expenses) predictable to be below guidance of $205 million. Kinross is also exploring additional opportunities to reduce overhead costs as part of a company-wide spending review, the results of which will be declared in the third quarter of 2015.
Kinross Gold Corporation, together with its auxiliaries, engages in the acquisition, exploration, and development of gold bearing properties. It is involved in mining and processing gold and silver ores.
At the end of Friday’s trade, Hecla Mining Company (NYSE:HL)‘s shares surged 3.74% to $2.22.
Hecla Mining Company (HL) declared that it anticipates to start production at its San Sebastian project in the State of Durango, Mexico, by the end of 2015.
Economic Assumptions
The following is a summary of high-level life of mine economic assumptions of surface mining operations, as outlined in the Preliminary Economic Assessment (PEA) by AMC Mining Consultants (Canada) Ltd., to be accomplished within 45 days of this declarement.1,2 The numbers shown are subject to change that is not anticipated to be material.
Velardeña Mill
Hecla has secured the use of a Merrill-Crowe processing plant near Velardeña in the State of Durango, Mexico, as declared on July 15, 2015. Under the terms of the toll treatment arrangement, Hecla has the ability to use the mill for 18 months, with the potential to extend for up to another 12 months. Located within 100 miles of San Sebastian, the mill was formerly used by Hecla to process ore when it mined on the property from 2001 to 2005.
The mill has been idle for several years and is presently being rehabilitated and updated. The filling of supervisory positions is underway. The owner of the mill is in the process of reactivating existing permits.
Mining Technique
The projected mining technique focuses on shallow, near-surface pits on the East Francine, Middle and North veins, targeting high-grade material. The pits are predictable to be small, extending to a maximum of about 270 feet in depth. Near-surface material is weathered, and should be easily excavated. Drill and blast techniques are contemplated for deeper material.
The Company intends to use a contractor for mining operations, and the RFP process is progressing well.
Hecla Mining Company, together with its auxiliaries, discovers, acquires, develops, produces, and markets precious and base metal deposits worldwide. The company offers unrefined gold and silver bullion bars to precious metals traders; and lead, zinc, and bulk concentrates to custom smelters and brokers. Staples, Inc. (NASDAQ:SPLS), ended its Friday’s trading session with -2.31% loss, and closed at $13.51.
Staples, Inc. ( SPLS) declared that its Board of Directors has declared a quarterly cash dividend on Staples, Inc. common stock of $0.12 per share. The dividend is payable on October 15, 2015, to shareholders of record on September 25, 2015.
Staples, Inc., together with its auxiliaries, operates office products superstores. It operates through three segments: North American Stores & Online, North American Commercial, and International Operations.
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