With the gold price stumbling from the US$1,300 level a year ago, gold output has also taken a hit. In an attempt to stay profitable one strategy for miners has been to ramp up production, if possible, in order to take advantage of scale and increase profit margins. The companies on this list did just that, increasing their output overall and, thus, its free cash flow by over 100% year over year.
Nevsun Resources Ltd. (TSX: NSU) – $4.87
Gold
Nevsun Resources Ltd. (Nevsun) is engaged in the acquisition, exploration, development and operation of mineral property interests. The Company’s principal mining operation is the Bisha Mine and the Company’s principal mineral property is the Bisha property, which is owned by Bisha Mining Share Company (BMSC). The Company’s wholly-owned subsidiaries include Nevsun (Barbados) Holdings Ltd., Nevsun Africa (Barbados) Ltd. and Nevsun Resources (Eritrea) Ltd. The Company has 60% interest in BMSC. Bisha is a volcanogenic massive sulphide (VMS) deposit located 150 kilometers west of Asmara, Eritrea, East Africa. The Bisha mine hosts a gold, copper and zinc deposit and the overall Bisha district includes satellite VMS deposits known as Harena, Northwest and Hambok.
- Market Cap: $967,477,494
- Change in Free Cash Flow (Y/Y): +225.76%
Wesdome Gold Mines Ltd. (TSX: WDO) – $1.17
Gold
Wesdome Gold Mines Ltd. is a gold producer engaged in gold mining and related activities including exploration, extraction, processing and reclamation. The Company’s principal assets include the Eagle River mine, the Mishi mine and the Eagle River mill located near Wawa, Ontario and the Kiena mining and milling complex and exploration properties located in Val D’Or, Quebec.
- Market Cap: $129,329,598
- Change in Free Cash Flow (Y/Y): +141.42%
Semafo Inc. (TSX: SMF) – $3.85
Gold
SEMAFO INC. is a Canada-based mining company with gold production and exploration activities in West Africa. The Company operates the Mana Mine in Burkina Faso, which includes the high-grade satellite Siou and Fofina deposits. The Mana property is located approximately 200 kilometers west of Ouagadougou, the capital city of Burkina Faso. Permitted property at Mana covers around 2,327 square kilometers of land over the prospective Hounde belt. The Mana Mine produced approximately 158,600 ounces of gold in 2014.
- Market Cap: $1,126,576,699
- Change in Free Cash Flow (Y/Y): +137.33%
Klondex Mines Ltd. (TSX: KDX) – $3.02
Gold
Klondex Mines Ltd. is a Canada-based exploration company focused on gold and silver exploration, development and production in north central Nevada, from its two gold and silver projects: the Fire Creek exploration project (Fire Creek) and the Midas mine and milling facility (Midas). Fire Creek has epithermal gold deposit. The Midas property is a low-sulphidation, epithermal vein underground gold and silver mine located in Nevada between Elko and Reno. It has been producing gold and silver. The 1,200 tons per day milling facility is processing mineralized materials from the Midas Mine and the Fire Creek Project. Midas is fully-permitted.
- Market Cap: $366,541,811
- Change in Free Cash Flow (Y/Y): +127.59%
Lake Shore Gold Corp. (TSX: LSG) – $1.29
Gold
Lake Shore Gold Corporation (Lake Shore) is a Canada-based gold mining company engaged primarily in the operation, exploration and development of three gold complexes located in the Timmins Gold Camp in Timmins, Ontario. The Company has two operating mines: Timmins West and Bell Creek.
- Market Cap: $559,038,361
- Change in Free Cash Flow (Y/Y): +114.30%
