Month: July 2012

Excellent Quarterly Cash Flow From Low Cash-Cost Production Record Quarterly Gold Sales of 50,000 Ounces for Revenues of $80.9 Million

Santacruz Silver Mining Ltd. is pleased to announce that at its Annual General Meeting held July 24, 2012, Mr. Marc Prefontaine, M.Sc., P.Geo, was elected to the Company’s Board of Directors joining Messrs. Arturo Prestamo Elizondo, Francisco Ramos, James Hutton and Craig Angus, who were all re-elected.

Guerrero Exploration Inc. announces that it has, by mutual agreement, terminated the Option Amendment and Reorganization Agreement with Riverside Resources Inc. announced earlier, and has determined that it will not pursue its option on the Chapalota property in Mexico. It has, subject to regulatory approval, entered into a binding letter of intent to acquire all of the issued and outstanding shares of Pinette Copper Corp, a private Vancouver-based mineral exploration company with 2 exploration properties located in Botswana. Pinette has had these copper exploration properties for the last approximately 2 and 3 years respectively and has spent a total of approximately $2,500,000 to date on them. Exploration is ongoing.

Mexivada Mining Corp. is pleased to announce that at the Extraordinary General Meeting of Members of the Company held on July 17, 2012, members of the Company approved, by way of Ordinary Resolution, to consolidate the Company’s shares with every three and one-half common shares of the Company being consolidated into one common share.

Teck Resources Limited reported second quarter adjusted profit of $312 million, or $0.53 per share, compared with $663 million or $1.12 per share in 2011.

Bowmore Exploration Ltd. is pleased to announce the completion of its non-brokered private placement announced on July 11, 2012. Bowmore sold a total of 5,600,000 common shares at a price of $0.25 per share for gross proceeds of $1.4 million.

Guerrero Exploration Inc. announces that it has applied for regulatory approval to issue a total of 300,000 common shares at a deemed issue price of $0.06 per share in respect to its previously described Letter Agreement with Riverside Resources Inc. dated March 3, 2011, and outlined in further detail in the press release dated March 7, 2011. The agreement provides for 150,000 shares to be issued 12 months and 18 months from the effective date. The shares will be subject to a 4 month hold period.

Excellon Resources Inc. is pleased to report the appointment of Brendan Cahill to the position of Executive Vice President of the Company.

I am pleased to provide an exploration and corporate update for Silver Bull Resources.

Newstrike Capital Inc. is pleased to announce the appointment of Mr. Thomas H. Bagan, P.E. MBA, as Vice President of Project Development. Mr. Bagan brings over 30 years of industry experience in project development, advanced engineering and business development. He has held several senior management positions in open-pit and underground mines spanning four continents and 14 countries. Most recently, Mr. Bagan was Vice President, Corporate Development at Minefinders Corporation. Mr. Bagan will be responsible for directing project development and overseeing the engineering studies at Newstrike’s ‘Ana Paula’ project located in Guerrero, Mexico.

SilverCrest Mines Inc. is pleased to announce production figures for the second quarter of 2012 from its 100% owned Santa Elena Mine located in Sonora, Mexico.

Pan American Goldfields Ltd. is pleased to announce mineral production and revenues received from pilot production at its Cieneguita Project located in Chihuahua, Mexico for the quarter ending May 31st, 2012.

Gold Resource Corporation is pleased to report the final results from an independent resource estimate compiled from drilling data at the Company’s La Arista vein system at its El Aguila Project in the southern state of Oaxaca, Mexico. Indicated and inferred resources include approximately 1.4 million gold equivalent ounces (all metals) at 1 gram gold equivalent cutoff confirming the previously announced preliminary results. The estimate was prepared by the Denver engineering firm of Pincock, Allen & Holt in compliance with the standards established by Canadian Securities Administrators’ National Instrument 43-101.

Oremex Silver Inc. announces that it intends to complete a non-brokered private placement of up to 15,000,000 units from treasury at a price of $0.05 per Unit for aggregate proceeds of up to $750,000.

The Board of Directors of Scorpio Mining Corporation today announced that it has accepted the resignation of Scorpio’s President and Chief Executive Officer, Parviz Farsangi, and unanimously appointed the Company’s Chairman, founder and former Chief Executive Officer, Peter J. Hawley as interim President and Chief Executive Officer. Mr. Farsangi has stepped down as President and Chief Executive Officer and director of Scorpio to pursue other career opportunities, effective immediately.

Timmins Gold Corp. announces that it held its annual and special meeting of shareholders on July 19, 2012 and the following persons were elected to the board of directors: Arturo Bonillas, Bruce Bragagnolo, Miguel Soto, Frank Cordova, Eugene Hodgson, R. Barry Fraser, Paula Rogers and Keith Peck. Lawrence Dick resigned from the board of directors prior to the meeting but will continue as the Company’s Qualified Person. Mr. Dick was one of the original directors and helped the Company transition from a developer to a producer. The Company thanks Mr. Dick for his many years of service as a director.

Gold Resource Corporation reported its preliminary production results for the second quarter ended June 30, 2012 of approximately 14,500 ounces precious metal gold equivalent at a 60:1 price ratio. Gold Resource Corporation is a low-cost gold producer with operations in the southern state of Oaxaca, Mexico. The Company has returned over $53 million to shareholders in monthly dividends since declaring commercial production July 1, 2010 and may be the only Company offering shareholders the option to convert their cash dividends into physical gold or silver.