Gold Resource Reports Q1 Sales; Worthington Steel Partner-Level Supplier; US Gold's Direct Offering And More: Tuesday's Top Mining Stories

Austin DeNoce

April 16, 2024

Top Stories for April 16, 2024:

1. Gold Resource (NYSE:GORO) reported preliminary Q1 results, including sales of 3,557 ounces of gold and 216,535 ounces of silver, totaling 5,965 gold equivalent ounces.

The company also sold 1,682 tons of zinc, 264 tons of copper and 667 tons of lead.

CEO Allen Palmiere highlighted ongoing cost reduction and efficiency efforts, the progression of the 2024 drill program aimed at resource and production enhancement and beneficial effects from rising metal prices despite a strong Mexican peso.

2. Worthington Steel (NYSE:WS) was recognized as a partner-level supplier for the 12th year in a row in the John Deere Achieving Excellence Program, the highest rating from Deere & Company (NYSE:DE).

Worthington Steel supplies steel sheets to multiple John Deere facilities for various agricultural equipment productions and it earned this recognition for its exceptional product quality and commitment to continuous improvement.

Suppliers in the John Deere Achieving Excellence Program are assessed annually on quality, delivery, process alignment, relationship and value creation.

Also Read: Gold Road Considers Major Stake In Greenstone; Investors Wary Of Potential High Costs

3. U.S. Gold (NASDAQ:USAU) announced a $4.9 million direct offering.

The deal includes selling 1.4 million shares at $3.50 each (total of roughly $4.9 million).

It also includes unregistered warrants to buy another 1.4 million shares at $4.48 each. The warrants are exercisable six months post-issuance and expire in five years.

The sale is expected to close by April 19, subject to standard conditions.

4. When asked for a comment on Ioneer's (NASDAQ:IONR) progress at its Rhyolite Ridge lithium site reported Monday, Executive Chairman James Calaway said, "The forthcoming release of the draft EIS represents six years of hard work to help build America's critical minerals supply chain and reaffirms the viability of our investment in Nevada.”

“Rhyolite Ridge will help accelerate the electric vehicle transition and secure a cleaner future for our children and grandchildren. As we move through the final steps in the federal permitting process, Ioneer will keep working to ensure this world-class project will operate efficiently and sustainably,” he added.

5. Kaiser Aluminum (NASDAQ:KALU) declared a quarterly dividend of 77 cents per share, payable on May 15 to shareholders on record as of April 25.

Now Read: Revival Gold Acquires Ensign Minerals ‘To Become A Cash-Flowing Mid-Tier US Gold Producer’

Benzinga Mining is the bridge between mining companies and retail investors. Reach out to licensing@benzinga.com to get connected with the Benzinga community!

Photo: Shutterstock

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