Last $3.05 USD
Change Today -0.05 / -1.61%
Volume 2.1K
CHPGF On Other Exchanges
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As of 8:10 PM 08/29/14 All times are local (Market data is delayed by at least 15 minutes).

chesapeake gold corp (CHPGF) Snapshot

Open
$3.01
Previous Close
$3.10
Day High
$3.05
Day Low
$3.00
52 Week High
09/3/13 - $4.87
52 Week Low
05/30/14 - $2.36
Market Cap
135.5M
Average Volume 10 Days
12.5K
EPS TTM
--
Shares Outstanding
44.4M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for CHESAPEAKE GOLD CORP (CHPGF)

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chesapeake gold corp (CHPGF) Details

Chesapeake Gold Corp., a development stage company, focuses on the exploration, development, and recovery of precious metals in North and Central America. The company primarily explores for gold, silver, and zinc deposits. Its primary asset includes the 100% owned Metates gold-silver project, which comprises approximately 14 mineral concessions totaling 15,247 hectares located in Durango State, Mexico. The company also has a portfolio of exploration properties in Mexico comprising 49,808 hectares in the states of Durango, Sinaloa, Oaxaca, and Veracruz. Chesapeake Gold Corp is headquartered in Vancouver, Canada.

chesapeake gold corp (CHPGF) Top Compensated Officers

Chairman, Acting Chief Executive Officer, Pre...
Total Annual Compensation: C$250.0K
Chief Financial Officer
Total Annual Compensation: C$66.7K
Executive Vice President of Operations, Direc...
Total Annual Compensation: C$90.0K
Vice President of Development
Total Annual Compensation: C$195.0K
Vice President of Exploration
Total Annual Compensation: C$157.5K
Compensation as of Fiscal Year 2012.

chesapeake gold corp (CHPGF) Key Developments

Chesapeake Assigns Metates Royalty to Silver Wheaton

Chesapeake Gold Corp. announced that it has entered into an agreement whereby Chesapeake has assigned its interest in the 1.5% net smelter returns royalty on its Mexican Metates gold-silver property to Wheaton Precious Metals (Cayman) Co. (Wheaton), a subsidiary of Silver Wheaton Corp., in consideration for USD 9.0 million. The Royalty had previously been acquired by Chesapeake for USD 9.0 million from SANLUIS Corporation, a private Mexican company. As part of the Agreement, Chesapeake will have the right at any time for a period of five years to repurchase two-thirds of the Royalty (that being a 1% net smelter returns royalty) from Wheaton for USD 9.0 million with Wheaton continuing to hold a 0.5% Royalty interest. Also as part of the transaction, Chesapeake through its wholly-owned Mexican subsidiary, American Gold Metates, S. de R.C. de C.V. (AGM) will hold a right of first refusal to purchase the Royalty in the event Wheaton elects to sell the Royalty to a third party, on the same terms and conditions as the third party offer. The Agreement also contains customary terms and conditions for a royalty transaction. Chesapeake and AGM have also entered into a right of first refusal agreement with Wheaton whereby Chesapeake and AGM have granted Wheaton a right of first refusal on any future silver stream or royalty for which Chesapeake or AGM receives and accepts an offer to purchase, on the same terms and conditions as the third party offer.

Chesapeake Gold Corp. expected to report Q2 2014 results on August 29, 2014. This event was calculated by Capital IQ (Created on June 1, 2014).

Chesapeake Gold Corp. expected to report Q2 2014 results on August 29, 2014. This event was calculated by Capital IQ (Created on June 1, 2014).

Chesapeake Gold Corp. Acquires 1.5% Net Smelter Return Royalty on its Metates Gold-Silver Project Located in Durango State, Mexico

Chesapeake Gold Corp. announced that it has acquired the 1.5% net smelter return royalty on its 100% owned Metates gold-silver project located in Durango State, Mexico. The royalty was purchased from the royalty holder, SANLUIS Corporation, pursuant to exercise of a right of first refusal held by Chesapeake's Mexican subsidiary, American Gold Metates. The purchase price Technical studies and development work completed in the first quarter of 2014 have led to significant improvements in the scope and design of the process plant over that included in the pre-feasibility study. Test findings that positively impacted the PFS flow sheet and infrastructure logistics include: Pilot test work of the pressure oxidation circuit demonstrated significant reductions in overall water demand and lime consumption required for neutralization. Both will contribute to reductions in capital and operating costs; Test work has determined that dry stacking vs hydraulic impoundment of the neutralization residue is feasible allowing greater flexibility for alternative plant site locations closer to the Metates mine site reducing the length of the access route, concentrate pipeline and other related infrastructure; Dry stacking along with the modular expansion of the process related components now facilitates the phased expansion of Metates with a significantly smaller physical footprint and reduced initial infrastructure development versus the PFS, including an option to consolidate the project operations at the Metates site under a lower throughput mine plan scenario; and Several alternate plant sites have been located closer to Metates with proximity to requisite high purity limestone and existing key transportation and mine inputs. Supported by the positive findings noted above, Chesapeake is currently evaluating the opportunity to target mining at lower initial throughputs (30,000 tpd - 40,000 tpd) versus the Phase I 60,000 tpd case in the PFS. Currently, M3 Engineering & Technology and other leading international consultants are reviewing these smaller initial throughput development scenarios that have lower upfront capital requirements and allow sequential, scalable expansion over the mine life. Preliminary work suggests the initial capital cost for a staged development scenario (initial 30,000 tpd) may be in the range of $1.5 billion as compared to the $3.2 billion CAPEX for the 60,000 tpd (Phase 1) in the PFS. Mining the near surface, higher grade ore in the Metates deposit at this processing rate would average during the first ten years of operation 212,000 ounces of gold, 9.3 million ounces of silver and 50 million pounds of zinc production annually. The company expects to be able to provide further information on these new development strategies within the next month.

 

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