Month: February 2013

Oroco Resource Corp. announces that pursuant to the terms of its agreement with Goldgroup Mining Inc., announced by news release dated January 28, 2013, Goldgroup has now completed a subscription for five million units of Oroco at $0.20 per unit through a non-brokered private placement. Each unit consists of one common share and one common share purchase warrant, with each warrant entitling Goldgroup to purchase one common share of Oroco for CAD$0.25 for a period of two years from the date of closing of the private placement. Proceeds of the private placement are $1,000,000.

New Gold Inc. today announces fourth quarter and full year 2012 operational results as well as 2013 guidance, combining continued operational execution with gold production growth and declining total cash costs(1). The company finished 2012 with gold production of 411,892 ounces at total cash costs(1) per ounce sold, net of by-product sales, of $421 per ounce. After delivering 6% gold production growth and a $25 per ounce decrease in total cash costs(1) per ounce sold, net of by-product sales, during 2012, New Gold’s 2013 guidance outlines continued gold production growth coupled with a further decline in costs. For 2013, the company forecasts gold production of 440,000 to 480,000 ounces at total cash costs(1) per ounce sold, net of by-product sales, of $265 to $285 per ounce. “We are very pleased with our operational performance in 2012 as our teams continued to execute,” stated Randall Oliphant , Executive Chairman. “Looking forward, a full year of operations at New Afton allows us to, once again, combine gold production growth with substantially lower costs, which I believe is one of the key differentiators of our company.”

Goldgroup Mining Inc. is pleased to announce that it has completed the purchase of five million units in Oroco Resource Corp., which was previously announced on January 28, 2013. Each unit was purchased at a price of CDN$0.20 and is comprised of one common share and one non-transferable share purchase warrant, with each warrant exercisable for two years at a price of CDN$0.25.

Avino Silver & Gold Mines Ltd. is pleased to report the following summary of significant events from 2012 and outlook for 2013.

Silver Bull Resources, Inc. announced today a marketed public offering of units. Each unit will be comprised of one share of common stock of Silver Bull and one-half of one Common Share purchase warrant, with each whole warrant exercisable to purchase one Common Share, at an exercise price to be determined in the context of the market, for a period of 18 months from the closing of this offering. The pricing and number of units to be offered will be determined in the context of the market. PI Financial Corp. and Stifel Nicolaus Canada Inc. are acting as co-lead placement agents for the offering, and Roth Capital Partners, LLC is a co-placement agent in the United States in connection with this offering.

Gold Resource Corporation today announced that effective January 30, 2013, the size of the Board of Directors was increased from five members to six members and the Board of Directors appointed Dr. Gary Huber to fill the newly created vacancy on the board. Gold Resource Corporation is a low-cost gold and silver producer with operations in the southern state of Oaxaca, Mexico. The Company has returned over $72 million to shareholders in monthly dividends since declaring commercial production July 1, 2010, and offers shareholders the option to convert their cash dividends into physical gold and silver.

Gold Resource Corp (NYSE MKT: GORO) has declared its January dividend of 6 cents per share.

Silver Bull Resources (TSE:SVB)(NYSE MKT:SVBL) unveiled Thursday a third batch of drill results from its underground drill program in its high grade zinc zone at the Sierra Mojada project in northern Mexico, saying mineralization remains open to expansion in four directions.