AuRico Gold Inc. reports financial results for the three and nine months ended September 30, 2012 and provides an update on the Young-Davidson mine. All amounts are in U.S. dollars. The Company will host a conference call on Tuesday, November 13, 2012 beginning at 10:00 a.m. Eastern Time.
Looking at the Golden Minerals (AUMN) chart since September 13, you would think that their mine had caved in or someone had stolen all the cash they had in the bank. What has actually happened, however, is they raised $37M by issuing 19% more shares at $5.75, with investors buying those shares hand-over-fist, in a single day, as a great bargain. In my previous article I explained why the issuance of extra shares at $5.75 does not imply that the fair value of the stock has to drop to $5.75. In fact, such an issuance might actually increase the fair value of the stock, if it increases the expected future cashflow for the company (which it did in the case of AUMN, as the newly raised cash will allow them to perform the production expansion to 850 tpd throughput and beyond in 2013).
IMPACT Silver Corp. announces the financial and production results for the third quarter ended September 30, 2012. IMPACT currently operates three underground silver mines within the Royal Mines of Zacualpan Silver District in Mexico. Throughout 2012, IMPACT has also been constructing two new mines; the Oscar Mine in the Royal Mines of Zacualpan District and the Capire Mine in the Mamatla Mineral District. Upon beginning pilot production at the Capire Mine in mid winter, IMPACT will have successfully entered its next phase of significant growth potential. Additionally, with the future commencement of production at the Oscar Mine, IMPACT anticipates higher silver production. IMPACT continues to maintain a strong positive net working capital balance, a robust cash position of approximately $20 million in the treasury and no debt. All amounts presented are in Canadian dollars.
International Northair Mines Ltd. is pleased to announce assay results from seven additional core holes completed in the Las Carolinas Zone at its La Cigarra silver project, located in north central Mexico. This latest round of drilling is designed to tighten drill spacing in key areas important for the successful completion of the Company’s ongoing resource study.
Major Drilling Group International Inc. is one of the world’s largest drilling services companies primarily serving the mining industry. Established in 1980, Major Drilling has over 1,000 years of combined experience and expertise within its management team alone.
Maza Drilling is a Mexican company established in 2007 in Mazatlán, Sinaloa. Our Canadian founder, Mr. Guy de Launiere, has over 20 years of international experience managing diverse drilling operations. Maza Drilling strives to compete at the highest levels in terms of recovery, effectiveness, efficiency, and affordability at every project while keeping at the forefront of technology to meet our customer’s needs in this demanding market.
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