Month: March 2012

GREAT PANTHER SILVER LIMITED announces the financial results for the year ended December 31, 2011. Great Panther is pleased to report revenues for the year ended December 31, 2011 of $57.8 million, representing a 37% increase over 2010. The Company’s gross profit or earnings from mining operations increased by 64% to $26.9 million for 2011, and net earnings increased 8% to $11.5 million. The Company also increased working capital to $53.8 million at December 31, 2011, from $18.8 million at the end of the prior year.

HALF-YEAR FINANCIAL REPORT – 31 DECEMBER 2011

Southern Silver Exploration Corp. reported today that it plans to issue up to 16,700,000 units in a non-brokered private placement at a price of $0.12 per unit to raise $2,004,000. Each unit will consist of one common share and one share purchase warrant, with each warrant exercisable to purchase one additional common share for a period of three years at an exercise price of $0.17 per share.

Sierra Madre Developments Inc. is pleased to announce the closing of the non-brokered private placement financing led by Burgeonvest-Bick Securities Ltd. previously announced by news release on February 15, 2012. Pursuant to the Offering, the Company raised $2,276,250 through the sale of 30,350,000 units at a price of C$0.075 per Unit. Each Unit consists of one common share in the capital of the Company and one-half of one transferable common share purchase warrant. Each Warrant entitles the holder to acquire one additional Share at a price of C$0.10 per Share for a period of 12 months expiring March 9, 2013.

Second quarter production for San Martin Mine results in 6,068 equivalent gold ounces

Aurvista Gold Corp. announces that it has completed the second and final closing of its private placement of Units consisting of Common Shares and Warrants as described in its February 27, 2012 press release. Under the first closing completed on March 2, 2012 and the final closing completed on March 9, 2012 Aurvista issued an aggregate of 6,549,000 Common Shares and 3,274,500 Warrants for aggregate proceeds of $1,637,250.00. The securities issued under the second closing may not be traded until July 9, 2012. Under the Offering, each Unit, consisting of a Common Share and a half-warrant was offered at a price of $0.25 per Unit. Each whole warrant entitles the holder to purchase one common share at a price of $0.35 per common share at any time up to 4 o’clock p.m. (Toronto time) on March 2, 2014 (the “Offering”). The Corporation may pay finders’ fees equal to a cash payment of 6%.