Stocks In Action: Lake Shore Gold Corp Ordinary Shares (Canada) (NYSEMKT:LSG), ZaZa Energy Corporation (NASDAQ:ZAZA), Primero Mining Corp (NYSE:PPP)
Dallas, Texas, 10/06/2014 (ustrademedia) – Lake Shore Gold Corp Ordinary Shares (Canada) (NYSEMKT:LSG) recently provided its production update for nine months ended September 30, 2014. The company reported 72 percent year over year increase in gold production to 142,500 ounces. During three months ended September 30, 2014, gold production increased 58 percent year over year to 45,600 ounces. This strong production performance is also strengthening the company’s cash position and helping to achieve competitive operational costs. The company reported debt repayment of $20 million and cash and bullion of $67 million as at September 30, 2014. Lake Shore is hopeful of achieving top-end of its full-year 2014 gold production guidance range of 160,000 to 180,000 ounces.
ZaZa Energy Corporation (NASDAQ:ZAZA) reported average 929 barrels of oil equivalent per day production at its McAdams 1H well over the first 30 active days. The production comprises approximately 2,400 mcf per day of natural gas and 529 barrels per day of liquids. The company holds 25 percent working interest and EOG Resources, Inc. is the operator of Walker County, Texas-based McAdams 1H. The company is also working for a new reserve based debt facility. The proceeds from this facility will be used to take out the existing Senior Secured Notes and to fund joint venture capital expenses. ZaZa intends to close this facility before the end of 2014.
Primero Mining Corp (NYSE:PPP) will release its 3Q14 financial results on Thursday, November 6, 2014 before the opening bell. The company will host a conference call on the same day at 10:00 a.m. ET. During 3Q13, the company reported production of 41,998 gold equivalent ounces and incurred all-in sustaining costs of $974 per ounce. Net income was $10.1 million during 3Q13. In 2Q14, the company reported production of 63,414 gold equivalent ounces and all-in sustaining costs of $1,228 per ounce. Net income was $0.6 million, impacted by higher general and administrative expenses. The stock has delivered roughly 18.5 percent negative returns over the trailing twelve months.