Breaking Down the Top Stories for Feb. 27, 2024:
1. Coeur Mining Inc.: Coeur Mining (NYSE:CDE) arranged a private placement of 7,704,725 flow-through common shares of approximately $25 million (C$34 million).
The proceeds from the placement will be utilized for qualifying Canadian Exploration Expenditures, to conduct an exploration and mineral 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-through offering is set to be privately placed with investors in certain provinces in Canada and is projected to close on or about March 8, 2024.
2. Solitario Resources Corp.: Solitario (NYSE:XPL) discovered a new area of high-grade gold mineralization on its Golden Crest Project in South Dakota named Wild Rose.
Preliminary rock sampling has unveiled gold values up to 52.9 grams per ton, with 34 out of 101 surface grab samples showing gold values surpassing 1.0 grams per ton.
President and CEO Chris Herald expressed optimism about the discovery, citing Wild Rose as a significant addition to the Golden Crest project.
3. Hecla Mining Company: Hecla Mining (NYSE:HL) appointed Mark P. Board as a Director, with the effective date being Feb. 23, 2024.
4. Steel Dynamics, Inc.: Steel Dynamics (NASDAQ:STLD) has declared a first-quarter cash dividend of 46 cents per common share, marking an 8% increase from its 2023 quarterly rate.
The dividend will be paid to all shareholders as of the close on March 31, 2024, with distribution set for approximately April 14, 2024.
Chairman and CEO Mark D. Millett commended the board’s decision, emphasizing the company’s confidence in its current and future cash flow generation capability.