Agreements, Stock Price Updates, and Dropdown Strategy - Analyst Notes on Kinross, Eldorado, IAMGOLD, SXC, and Gerdau
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NEW YORK, March 18, 2014 /PRNewswire/ --
Today, Analysts Review released its analysts' notes regarding Kinross Gold Corporation (NYSE: KGC), Eldorado Gold Corp (NYSE: EGO), IAMGOLD Corp (NYSE: IAG), SunCoke Energy Inc. (NYSE: SXC), and Gerdau SA (NYSE: GGB). Private wealth members receive these notes ahead of publication. To reserve complementary membership, limited openings are available at: http://www.AnalystsReview.com/register
Kinross Gold Corporation Analyst Notes
On March 12, 2014, Kinross Gold Corporation (Kinross) announced that it has signed a memorandum of understanding with its two unions at its Maricunga mine in Chile to end a strike that started on March 5, 2014. Kinross stated that the concerned parties have reached a fair and reasonable agreement and that the Company recognizes the cost challenges at Maricunga and the current gold price environment. According to the Company, the strike is not expected to impact the Company's 2014 regional guidance for the Americas, and its management expects to resume normal operations at the earliest. The full analyst notes on Kinross Gold Corporation are available to download free of charge at:
http://www.AnalystsReview.com/03182014/KGC/report.pdf
Eldorado Gold Corp Analyst Notes
On March 12, 2014, Eldorado Good Corp's (Eldorado) stock jumped 3.62% to close at $7.15. Over the past five trading days, Eldorado's shares gained 2.44%, compared to the Dow Jones Industrial Average Index which declined 0.12% during that same period. The full analyst notes on Eldorado Gold Corp are available to download free of charge at:
http://www.AnalystsReview.com/03182014/EGO/report.pdf
IAMGOLD Corp Analyst Notes
On March 6, 2014, IAMGOLD Corp (IAMGOLD) announced that it has finalized a five-year option agreement with Sarafina N.V. (Sarafina) under which the Company's subsidiary, Rosebel Gold Mine (RGM) may earn a 100% interest in Sarafina's 10,000 hectare mining concession, located 25 kms from RGM in Suriname. IAMGOLD stated that it may exercise its right to exercise its right to purchase the property at any time for a cash purchase price of $1 million. According to the Company, to maintain this purchase option, RGM is required to make scheduled option payments totaling $575,000 over five years. IAMGOLD's President and CEO, Steve Letwin, said, "Rosebel has been a great mine for IAMGOLD. In its first 10 years, Rosebel produced more gold than defined in its original mineral reserve. Its future reserves are becoming more challenging and expensive to process due to an increasing proportion of hard rock. The Sarafina property has the potential to yield new discoveries of higher grade, softer rock that could be mined with a lower stripping ratio than our current operations. The new Agreement opens the opportunity to reinvent Rosebel, lengthen its reserve life, lower its unit operating costs and improve its contribution to the Government of Suriname, the local community and our investors." The full analyst notes on IAMGOLD Corp are available to download free of charge at:
http://www.AnalystsReview.com/03182014/IAG/report.pdf
SunCoke Energy Inc. Analyst Notes
On March 11, 2014, SunCoke Energy Inc. (SXC) announced that its Board of Directors supports the management's plans to drop down the Company's entire domestic coke business to SunCoke Energy Partners, L.P. (SXCP). According to the Company, an initial dropdown of a 33% interest in the Haverhill and Middletown cokemaking operations, in which SXCP already holds a 65% interest, was approved by the Board as a part of management's multi-year plan. SXC informed that it will continue to retain a 2% interest in both facilities and anticipates SXCP to finance the transaction through a combination of equity and debt. The full analyst notes on SunCoke Energy Inc. are available to download free of charge at:
http://www.AnalystsReview.com/03182014/SXC/report.pdf
Gerdau SA Analyst Notes
On March 12, 2014, shares of Gerdau SA (Gerdau) gained 1.72% to close at $5.92. Over the previous three-day trading sessions, Gerdau's shares registered a 1.66% decline, versus the Dow Jones Industrial Average Index which dropped 0.68% during the same period. The full analyst notes on Gerdau SA are available to download free of charge at:
http://www.AnalystsReview.com/03182014/GGB/report.pdf
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