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Last $9.71 USD
Change Today +0.2548 / 2.70%
Volume 9.4K
DRGDF On Other Exchanges
As of 8:10 PM 07/31/15 All times are local (Market data is delayed by at least 15 minutes).

detour gold corp (DRGDF) Snapshot

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06/18/15 - $13.48
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11/5/14 - $5.32
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detour gold corp (DRGDF) Details

Detour Gold Corporation, an intermediate gold mining company, engages in the acquisition, exploration, development, and operation of mineral properties in Canada. The company’s primary asset is the Detour Lake property located in Northeastern Ontario. Its Detour Lake property consists of a contiguous group of mining leases and claims totaling 626 square kilometers in the District of Cochrane, as well as comprises a group of claims located in Massicotte Township, Québec. The company was founded in 2006 and is headquartered in Toronto, Canada.

748 Employees
Last Reported Date: 03/6/15
Founded in 2006

detour gold corp (DRGDF) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$709.4K
Chief Financial Officer
Total Annual Compensation: C$418.7K
Chief Operating Officer
Total Annual Compensation: C$540.8K
Senior Vice President, General Counsel and Co...
Total Annual Compensation: C$334.8K
Senior Vice President of Corporate & Aborigin...
Total Annual Compensation: C$334.8K
Compensation as of Fiscal Year 2014.

detour gold corp (DRGDF) Key Developments

Detour Gold Corporation Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Reports Production Results for the Second Quarter Ended June 30, 2015; Reaffirms Production and Capital Expenditure Guidance for 2015; Updates on Lower Detour Drilling Program

Detour Gold Corporation reported earnings results for the second quarter and six months ended June 30, 2015. For the quarter, net loss was $15.4 million or $0.09 per share compared to $35.0 million or $0.22 per share a year ago. Adjusted net earnings were $0.5 million or $0.00 per share compared to $18.9 million or $0.12 per share a year ago. Earnings from mine operations were $7.5 million compared to $2.6 million a year ago. Metal sales for the second quarter were $147.5 million compared to $139 million a year ago. The company sold 123,296 ounces of gold at an average realized price of $1,215 per ounce, higher than the average London PM fix gold price of $1,192 per ounce due to the company's gold hedging program. Operating cash flow for the quarter was $52 million. During the quarter, sustaining capital expenditures were $25.8 million and included $7.5 for the mine, $5.2 million for the plant, $6.5 million for the tailings facility, and $6.6 million for others. Revenues from gold sales were $149.8 million compared to $138.711 million a year ago. For the six months, metal sales were $274.9 million compared to $249 million a year ago. Revenues from gold sales were $278.59 million compared to $243.157 million a year ago. Net loss was $78.46 million compared to $89.98 million a year ago. Adjusted net loss was $24.37 million or $0.15 per share compared to $48.5 million or $0.32 per share a year ago. For the quarter, gold production totaled 125,348 ounces, approximately 9% above the mid-point of the guidance range for the second quarter of 2015 compared to 117,366 ounces a year ago. For the quarter, the mill facility processed a record 5.2 million tonnes (Mt) of ore or an average of 57,015 tonnes per day (tpd) at recoveries of 91%. Processed grade was 0.82 grams per tonne (g/t), slightly higher than projections for the quarter. Mill operating time at 88% was in line with projections with a four day planned shutdown in June to replace SAG and ball mill liners on both lines, complete further improvements on the 410 conveyor system, and conduct a number of annual inspections which included the thickeners. Milling rates attained 2,712 tonnes per operating hour (tpoh) for the second quarter, exceeding the budget rate of 2,600 tpoh and the design rate of 2,500 tpoh. The processing plant has now been operating at design capacity of 55,000 tpd since March 2015. A total of 25.5 Mt (ore and waste) was mined in the second quarter (equivalent to mining rates of 280,000 tpd for Phase 1 and 2), approximately 18% higher than the annual budgeted rate of 238,000 tpd and above the fourth quarter target of 268,000 tpd. Phase 2 pre-stripping totaled 1.4 Mt for the quarter. At the end of the quarter, run-of-mine stockpiles had been successfully re-built to 1.7 Mt grading 0.71 g/t, providing operational flexibility for the second half of 2015. The company reaffirms its 2015 guidance of between 475,000 and 525,000 ounces of gold at total cash costs of $780 to $850 per ounce sold. Expected sustaining capital expenditures and capitalized stripping costs for 2015 remain as previously stated at approximately $90 to $100 million and $20 to $25 million, respectively. Exploration expenditures for 2015 have increased to approximately $8 million with this summer 30,000 metre drilling program at Lower Detour. The LOM plan update is expected to be completed at the end of 2015 and will be released along with the 2016 guidance. For the remainder of 2015, the company is targeting mining rates ranging between 250,000 and 290,000 tpd. The company started its 30,000 metre drilling program at the end of June. To date, 7,200 metres in 20 holes have been completed on the Lower Detour target, located 6 to 7 kilometres south of the Detour Lake processing plant. The majority of the holes have encountered visible gold in the targeted mineralized zones. Assay results are pending.

Detour Gold Corporation to Report Q2, 2015 Results on Jul 29, 2015

Detour Gold Corporation announced that they will report Q2, 2015 results After-Market on Jul 29, 2015

Detour Gold Corporation, Q2 2015 Earnings Call, Jul 30, 2015

Detour Gold Corporation, Q2 2015 Earnings Call, Jul 30, 2015


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Valuation DRGDF Industry Range
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Price/Sales 2.9x
Price/Book 0.8x
Price/Cash Flow 83.9x
TEV/Sales 1.9x

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