Yamana’s mineral extension drilling in South America continues to bear fruit

TSX- and NYSE-listed Yamana Gold says exploration drilling results at two of its mines – Jacobina, in Brazil, and El Peñón, in Chile – continue to show growth in mineral reserves and mineral resources. Yamana says exploration at Jacobina in the second half of last year and through the first quarter of this year expanded higher grade zones in the Canavieiras Sul deposit, both down dip and along strike to the north towards Canavieiras Central, providing significant expansion of the known mineralised zone in the highest grade sector of the mine.

Sylvania confirms its six tailings operations are ramping up

Aim-listed Sylvania Platinum is in the process of ramping up and maximising production at its six tailings retreatment facilities, under strict conditions stipulated by the South African government. The government started easing Covid-19 restrictions from May 1, after Sylvania had to scale down its operations to only care and maintenance activities for five weeks during a national Level 5 lockdown, during which only essential services were allowed to operate.

PTM says market remains strong while it awaits Waterberg mining right grant

TSX- and NYSE-listed Platinum Group Metals (PTM) has reiterated that it expects the South African Department of Mineral Resources and Energy to grant its Waterberg platinum/palladium joint venture (JV) project a mining right during June, as lockdown measures start to ease in the country. PTM president Michael Jones on May 15 presented an update on the project’s development, which is currently being led by JV partner, platinum miner Impala Platinum (Implats).

Central banks indicate they will continue to buy gold, some more than usual

The World Gold Council (WGC) in its latest 'Central Bank Gold Reserves (CBGR)' survey highlights several notable shifts in central bank attitudes towards gold this year. Increased interest in gold’s performance during times of crisis would suggest that the fast-changing financial and economic landscape has sparked a significant transformation in investment attitudes.

Hudbay suspends Peru guidance, reports loss for Q1

TSX- and NYSE-listed diversified miner Hudbay Minerals has posted record production from its Lalor mine, and record throughput at the Stall concentrator, in Manitoba, in the first quarter ended March 31. The company reports that, on a quarter-on-quarter basis, Lalor increased its ore mined by 8%, while the Stall plant increased its throughput by 19%.

Gold’s implied returns to come down sooner or later, says WGC

The World Gold Council (WGC) has analysed the potential performance of gold across four hypothetical scenarios provided by Oxford Economics in light of Covid-19 and ensuing economic lockdowns slashing global growth forecasts for this year. The WGC explains that gold’s behaviour can be explained by a broad set of drivers, namely economic expansion, risk and uncertainty, opportunity cost and momentum.