STOCK TITAN

Bear Creek Mining Corporation - BCEKF STOCK NEWS

Welcome to our dedicated page for Bear Creek Mining Corporation news (Ticker: BCEKF), a resource for investors and traders seeking the latest updates and insights on Bear Creek Mining Corporation stock.

Bear Creek Mining Corp (BCEKF) is a Vancouver-based company engaged in gold and silver mining operations. The company's flagship asset, the Mercedes Mine located in Sonora, Mexico, has shown remarkable progress in recent months. In Q1 2024, Bear Creek produced 12,228 ounces of gold and 44,040 ounces of silver, showcasing a substantial increase in gold grades compared to 2023. The company's President and CEO, Eric Caba, has expressed optimism about the ongoing development at Mercedes, highlighting significant improvements in grade and production efficiency. Recent debt and stream restructuring agreements with Sandstorm Gold Ltd. have further bolstered Bear Creek's financial standing, paving the way for sustained growth and value creation. With a focus on operational enhancements, exploration activities, and community support initiatives, Bear Creek Mining Corp continues to solidify its position in the mining industry.

Rhea-AI Summary

Bear Creek Mining (TSXV: BCM) (OTCQX: BCEKF) announced Q2 2024 production of 9,304 ounces of gold and 40,893 ounces of silver from its Mercedes Mine. This represents a decrease from Q1 2024 production of 12,228 ounces of gold. The company cited equipment availability issues and rock instability as reasons for the production decline.

Despite challenges, Bear Creek reported improvements in gold grade (3.23 g/t) and development meters (2,569m). The company has initiated a machine learning-assisted exploration program to identify new targets near the Mercedes operation and within its 70,000-hectare project area. Bear Creek is also developing a new lateral ramp at the Marianas deposit to improve long-term production potential.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.27%
Tags
-
Rhea-AI Summary

Bear Creek Mining announced the appointment of Donald Mc Iver as Vice President, Exploration and Geology. Mc Iver brings over 35 years of experience, especially in Latin America, and has held senior roles in companies like Barrick Gold and Ausenco. Concurrently, Eduard Roux will resign as Vice President, Project Development, effective August 13, 2024, to join Antamina copper-zinc operation in Peru.

The company also reported a drawdown of US$1,125,000 under the Sandstorm Promissory Note for ongoing exploration at Mercedes and general working capital. The total amount drawn to date is US$1,875,000, with a potential total principal amount of US$21,642,612.35 if all credits are drawn by August 2024. Sandstorm Gold holds the option to convert these amounts into shares before September 2028, pending TSX Venture Exchange approval.

Bear Creek operates the Mercedes gold mine in Mexico and the Corani silver-polymetallic deposit in Peru, noted for its significant reserves and low operating costs.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.94%
Tags
none
-
Rhea-AI Summary

Bear Creek Mining has announced the approval of 1,362,500 stock options and 1,622,500 Restricted Share Units (RSUs) to its directors, officers, and employees. These grants are part of the company's Stock Option Plan and Long Term Incentive Plan (LTIP), respectively. The stock options are exercisable by June 26, 2034, at a price of Cdn $0.35 per share.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
none
Rhea-AI Summary

Bear Creek Mining (TSXV: BCM, OTCQX: BCEKF) announced the outcomes of its Annual General Meeting (AGM) held on June 6, 2024, in Vancouver, BC. Shareholders voted in favor of all proposed business matters, including the election of Susan Toews and Sandra Daycock, and the re-election of Catherine McLeod-Seltzer, Eric Caba, Andrew Swarthout, Kevin Morano, and Alan Hair as directors. Alfredo Bullard did not stand for re-election.

Shareholders also approved the 10% Rolling Stock Option Plan (2022 Plan) and re-appointed PricewaterhouseCoopers LLP as auditors. Post-AGM, the board appointed Catherine McLeod-Seltzer as Chair, Eric Caba as President and CEO, Zoya Shashkova as CFO, Brian Peer as COO, Barbara Henderson as VP Corporate Communications, and Eduard Roux as VP Project Development. Standing committees for the upcoming year were also constituted.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-8.71%
Tags
management
-
Rhea-AI Summary

Bear Creek Mining (TSXV: BCM, OTCQX: BCEKF, BVL: BCM) released its Q1 2024 financial and operational results. The company, mainly operating the Mercedes gold mine in Mexico, produced 12,228 ounces of gold and 44,040 ounces of silver. The Mercedes mine sold 12,679 ounces of gold, achieving a cash cost of $1,183 per ounce and an all-in-sustaining cost (AISC) of $1,588 per ounce. Revenue for Q1 2024 was $27.5 million, up from $24.3 million in Q1 2023. However, the company reported a comprehensive net loss of $17.3 million, driven by an $8.3 million non-cash charge related to a restructuring agreement with Sandstorm Gold.

The restructuring reduced monthly gold and silver deliverables but increased cash payments. The Mercedes mine's development saw 2,781 meters of advancement. Bear Creek also continued its geometallurgical test program at the Corani Project in Peru, with results expected in Q2 or Q3 2024. Despite the progress, Bear Creek did not provide 2024 production guidance for Mercedes due to expected production variability.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.81%
Tags
-
Rhea-AI Summary

Bear Creek Mining reports its 2023 year-end financial and operating results, highlighting the challenges faced and the improvements made at the Mercedes gold mine. The company restructured debt and stream obligations to enhance financial viability, with key achievements including operational enhancements, production milestones, and financial restructuring. Despite initial difficulties, the company is optimistic about future outcomes at Mercedes and ongoing initiatives at the Corani project in Peru.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-8.43%
Tags
Rhea-AI Summary
Bear Creek Mining announces the production of 12,228 ounces of gold and 44,040 ounces of silver from the Mercedes Mine in Q1 2024. The average gold grade processed was 33% higher than the 2023 full-year average, leading to reduced costs and increased production. Development at the mine has shown significant progress, with improvements in gold grades, development meters, and operational practices. The Company has successfully reduced its gold and silver stream obligations, which is expected to positively impact free cash flow. Overall, Bear Creek Mining is optimistic about the future of the Mercedes Mine despite ongoing challenges.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
4.25%
Tags
-
Rhea-AI Summary
Bear Creek Mining (TSXV: BCM) draws US$750,000 under the Sandstorm Promissory Note for exploration work and working capital. Additionally, 500,000 stock options are granted to the new CFO at a strike price of Cdn $0.245 per share.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.76%
Tags
none
-
Rhea-AI Summary
Bear Creek Mining Corporation appoints Ms. Zoya Shashkova as Chief Financial Officer, bringing her expertise to drive financial strategies and growth.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
management
Rhea-AI Summary
Bear Creek Mining Corporation announces the resignation of CFO Fernando Ragone, effective March 8, 2024, and the appointment of a new highly qualified CFO successor. The company is set to reveal further details soon.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-6.67%
Tags
management

FAQ

Where is Bear Creek Mining Corp headquartered?

Bear Creek Mining Corp is headquartered in Vancouver, British Columbia.

What is the primary focus of Bear Creek Mining Corp's operations?

Bear Creek Mining Corp is primarily focused on gold and silver mining, with its flagship asset, the Mercedes Mine located in Sonora, Mexico.

Who is the President and CEO of Bear Creek Mining Corp?

Eric Caba is the President and CEO of Bear Creek Mining Corp.

What were Bear Creek Mining Corp's production results in Q1 2024?

In Q1 2024, Bear Creek produced 12,228 ounces of gold and 44,040 ounces of silver from the Mercedes Mine.

What recent agreements has Bear Creek Mining Corp entered into?

Bear Creek Mining Corp recently completed debt and stream restructuring agreements with Sandstorm Gold Ltd.

What are some of the key milestones achieved by Bear Creek Mining Corp?

Bear Creek Mining Corp showcased improvements in gold grades, production efficiency, and financial standing, reflecting a positive outlook for future growth and value creation.

What are the future plans of Bear Creek Mining Corp?

Bear Creek Mining Corp plans to focus on operational enhancements, exploration activities, and community support initiatives to strengthen its position in the mining industry.

Bear Creek Mining Corporation

OTC:BCEKF

BCEKF Rankings

BCEKF Stock Data

56.89M
135.69M
34.15%
21.32%
Crushed and Broken Limestone Mining and Quarrying
Mining, Quarrying, and Oil and Gas Extraction
Link
United States of America
Vancouver