Royal Canadian Mint struggles to make money, documents show
By Dean Beeby
Canadian Broadcasting Corp. News, Toronto
Saturday, February 25, 2017
The Royal Canadian Mint just isn't making the money it used to.
Revenue is down sharply, jobs have been chopped, morale is in the tank, and formerly successful lines of business are being shut down -- even as the mint spends millions of dollars on new executive offices.
Once a cash cow, the mint -- which actually lost money in 2015 -- is struggling financially.
Latest figures for the third-quarter of 2016 show that revenues were down by $208 million, or about 27 percent, and profits were down by $6.5 million, or 61 percent.
The weak financials mean the mint's 1,200 employees likely won't get their general annual bonus, which is based on meeting corporate profit targets. In April 2016 each worker took home an average of $8,204 in bonuses. ...
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K92 Mining Drills Multiple High-Grade Gold Intersections
Friday, January 27, 2017
K92 Mining Inc. (TSXV–KNT) announces the latest results from the ongoing grade control drilling program at its high-grade Kainantu Gold Mine in Papua New Guinea. K92 is ramping up the Kainantu gold mine toward commercial production, with its longest continuous production run to date now commenced.
In September 2016 K92 began a campaign of close-spaced underground diamond drilling as part of a comprehensive grade-control strategy. The current grade-control drilling program is focused on the areas of Irumafimpa and is designed to bring a high degree of confidence to the production planning and scheduling. K92 plans to mine this area in the coming six months. The closed-space drilling pattern of approximately 15 metres by 15 meters has significantly increased the confidence in this sparsely drilled area, with most holes recording high-grade intersections. Approximately 80 percent of the holes completed to date have recorded multiple high-grade intersections indicating the presence of multiple parallel to sub parallel high-grade veins. ...
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