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Cub Energy ( (TSE:HMMC) ) just unveiled an update.
Hemlo Mining Corp. reported its first gold pour at the Hemlo Gold Mine under new ownership, producing about 6,704 ounces and demonstrating operational continuity following the November acquisition from Barrick Mining Corp. Management highlighted a seamless transition in a strong gold-price environment, emphasizing operational discipline, environmental stewardship, and a reinforced safety culture as it works to stabilize and enhance mine performance and deliver long-term value. The company also corrected earlier disclosures on its post-consolidation share structure, noting minor adjustments to its issued and outstanding common shares and a reclassification of stock options and restricted share units, and disclosed that holders of $2.5 million in unsecured convertible debentures have converted into equity, modestly increasing the company’s share count and further aligning capital structure with its growth plans.
More about Cub Energy
Hemlo Mining Corp., formerly Carcetti Capital Corp., is a Canadian mid-tier gold producer focused on the Hemlo Gold Mine in Marathon, Ontario, a long-life operation that has produced about 25 million ounces of gold since 1985. After acquiring the mine from Barrick Mining Corp. for roughly US$1.1 billion, the company is targeting growth by optimizing existing infrastructure through a fit-for-purpose operating strategy and pursuing aggressive brownfields exploration to solidify its position as a leading Canadian growth-focused gold producer.
Average Trading Volume: 588,717
Technical Sentiment Signal: Buy
Current Market Cap: C$1.26B
Find detailed analytics on HMMC stock on TipRanks’ Stock Analysis page.