Day: February 21, 2013

Bacanora Announces Private Placement

Bacanora Minerals Ltd. is pleased to announce the terms of a proposed private placement financing for aggregate gross proceeds of up to $3,500,000 of units of the Corporation at a price of $0.30 per unit. Each unit will consist of one common share and one-half of one common share purchase warrant, with each whole warrant being exercisable into one common share at a price of $0.45 for a period of four (4) years.

Drilling Underway at Almaden’s El Cobre Copper-Gold Project, Mexico

Almaden Minerals Ltd. announces that it has commenced a diamond drill program on its 100% owned El Cobre porphyry copper-gold project in Veracruz State, Mexico. Drilling has been planned to test various geophysical and geochemical anomalies within this extensive porphyry copper-gold system. The drill program consists of one drill capable of drilling to >1,000 meters depth. An initial 5,000 meters is planned, comprised of 5 to 8 >500 meter deep holes.

High Desert Gold Corporation Announces Appointment of New Director

High Desert Gold Corporation is pleased to announce today the appointment of Mr. Joshua Kingsmill as a Director of the Company. Mr. Kingsmill brings an investment banking and wealth management background to the board of the Company. He was the lead investment banker who took the Company public in 2007 and has been involved in more than 100 corporate finance transactions in both Canada and London, England. Mr. Kingsmill provides both strategic and investment advice to private and institutional clients in his current role as an investment advisor with BMO Nesbitt Burns. He holds an MBA from the University of Toronto’s Rotman School of Management, a Master’s from the Sorbonne and an undergraduate degree from Quebec City’s Laval University.

GoGold’s Parral Pre-Feasibility Study Shows Reserves of 35 Million Ounces Silver Equivalent and a Pre-tax IRR of 80%

GoGold Resources Inc. is pleased to announce the completion of a Pre-Feasibility Study on its Parral Tailings project in Chihuahua State, Mexico which defines a reserve of 35 million Silver Equivalent Ounces and a pre-tax internal rate of return of 80%. The study projects an initial capital cost of $35 million and a life of mine of 12 years with an average annual production of 1.8 million Silver Equivalent Ounces* (1.2 million ounces of silver and 11,000 ounces of gold). The mine production is planned at 5,000 tonnes per day on a conventional heap leach with a sustaining capital of $27.5 million over LOM. The Pre-Feasibility Study on the Parral Tailings Project in Chihuahua, Mexico was prepared by The MDM Group of South Africa, in accordance with the requirements of Canadian National Instrument 43-101 “Standards of Disclosure for Mineral Projects”.

Pan American Silver’s Proven and Probable Silver Mineral Reserves Increase to 317 Million Ounces

Pan American Silver Corp. more than replaced the proven and probable silver and gold mineral reserves mined during the past year as a result of another very successful mine-site exploration campaign. As well, the mineral reserves increased further with the addition of the Dolores mine and the La Bolsa project, following the acquisition of Minefinders Ltd. Commenting on last year’s exploration results, Michael Steinmann, Executive Vice President Corporate Development and Geology said, “Mine-site exploration has always been an important value driver for Pan American, allowing for organic production growth. Since 2004, the Company has added 229.4 million ounces of silver to its mineral reserves solely through exploration activities, excluding acquisitions, and more than replaced the 196.3 million ounces of silver mined during the same period. This impressive track record has extended the mine life of our operations and continues to ensure our long-term profitability. The average cost of the new silver reserves added since 2004 from exploration was approximately $0.38 per ounce; without question an excellent return on our investment in exploration”.

Coeur Reports Strong Operating Cash Flow and Record Gold Production in 2012; Expected Production Growth in 2013 Driven by Rochester Expansion

Coeur d’Alene Mines Corporation reported strong operating cash flow1 of $338.7 million from metal sales of $895.5 million for the full year 2012. Production totaled 18.0 million silver ounces and a record 226,486 gold ounces. Coeur expects to generate robust operating cash flow from anticipated 2013 production of 18.0 – 19.5 million ounces of silver and a record 250,000 – 265,000 ounces of gold.

AuRico Gold Announces Inaugural Dividend Policy

AuRico Gold Inc. is pleased to announce that as part of the Company’s long-term strategy to maximize shareholder value, the Board of Directors has approved the implementation of a new, two-tiered dividend policy:

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.

Layne, A Granite Company, provides sustainable solutions for water resources and mineral exploration. Originally established in 1882, Layne offers a rich history of delivering safe, professional, and reliable water and minerals solutions throughout North and South America. Granite acquired Layne and its subsidiaries in the fall of 2018, to further Granite’s strategy to grow through acquisition and diverse end market expansion.