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Mining & Metals
McLaren Completes Drone MAG Program at Blue Quartz Gold Property, Timmins, Ontario
McLaren Resources (MCL.CN) after the close Monday said it completed a drone MAG geophysical survey over the Blue Quartz gold exploration property in northeastern Ontario.The MAG geophysical survey consisted of a total of 20.9 kilometers of lines with 50 meters spacing flown over two target areas were surveyed on the past-producing Blue Quartz mine property.McLaren said it is currently analyzing the information provided by the MAG geophysical survey together with existing property data and geological information to design a gold exploration drill program. The exploration drill program is to be focused on gold zones situated with a mineralized corridor that crosses the Blue Quartz property from the southeast to the northwest.The primary target area is the extension of gold zones along strike to the west of the Blue Quartz Mine, the company said.The company's shares closed unchanged at $0.06 on the Canadian Securities Exchange.
$MCL.CN
Mining & Metals
PrairieSky Royalty Posts Lower Profit, Higher Revenue for Q1; Quarterly Dividend Maintained
PrairieSky Royalty (PSK.TO) after trade Monday said its first-quarter profit fell slightly while revenue rose year-over-year.The Western Canadian oil and gas royalty company said it earned $55.8 million, or $0.24 per share, in the period, down from $58.4 million, or $0.25 per share, a year prior. FactSet expected $0.22 per share.Revenue rose to $133.8 million from $128.1 million in the year-ago quarter. Royalty production revenue stood at $118.5 million and other revenue was $15.3 million."It was another strong quarter as third-party operators continued to be very active across PrairieSky's land base bringing wells on production and leasing our fee lands. At current benchmark commodity pricing, we anticipate the level of activity on our land base and the growth in oil and NGL royalty production to continue," Chief Executive Andrew Phillips said.The company's board approved the company's second-quarter dividend of $0.265 per share, payable on July 15 to shareholders of record on June 30.PrairieSky shares closed up $0.26 to $31.11 on the Toronto Stock Exchange.
$PSK.TO
Mining & Metals
Hemlo Receives Conditional Approval to Graduate to the Toronto Stock Exchange
Hemlo Mining (HMMC.V) after close on Monday said it received conditional approval to list its shares on the Toronto Stock Exchange and graduate from the TSX Venture Exchange.Final approval of the listing is subject to the company fulfilling all of the requirements of the TSX, including receipt of all required documentation on or before July 14. Hemlo said it will issue a news release once the TSX confirms the date on which trading of its shares is expected to commence on the TSX."Receiving conditional approval to graduate to the Toronto Stock Exchange marks a defining milestone for Hemlo Mining and validates the disciplined execution of our capital markets strategy since acquiring the Hemlo Gold Mine. The TSX listing will help broaden our shareholder base, enhance trading liquidity, and position Hemlo alongside Canada's premier gold producers - reflecting both the historic scale of our asset and the institutional confidence we have built. This is a critical step in our staged uplisting plan, ensuring Hemlo is appropriately recognized within the global gold equity universe." chief executive Jason Kosec said.Hemlo's shares closed up $0.31 to $7.14 on the TSX Venture Exchange..
$HMMC.V