Month: May 2013

Sierra Metals Advances Towards Tripling Production At Its Cusi Mine During 2013 And Announces New Silver Expansion Plans Beyond 2014, Chihuahua State, Mexico

Sierra Metals Inc. is pleased to report that the Company is on track to triple production at its Cusi property during 2013. Development of new access drifts at the La India mine and Minerva Mine is on time and daily production is now double that of 2012. The Cusi operation is scheduled to continue to expand and reach production of at least 500 tonnes per day within 4 months.

Canasil and MAG Sign Binding Letter Agreement for MAG to Earn up to 70% Interest in Canasil’s Salamandra Project in Durango State, Mexico

Canasil Resources Inc. announces that the Company and MAG Silver Corp. have signed a binding Letter Agreement providing for MAG to earn up to a 70% interest in Canasil’s Salamandra silver-copper-zinc-lead project in Durango State, Mexico. The project is located close to the city of Durango and 80 kilometres on trend northwest of the San Martin-Sabinas mining district, the largest underground silver-copper-zinc deposit in Mexico, owned by Grupo Mexico and Penoles.

Gold Resource Corporation Declares May Monthly Dividend

Gold Resource Corporation declares its monthly instituted dividend of $0.03 per common share for May 2013 payable on June 24, 2013 to shareholders of record as of June 11, 2013. Gold Resource Corporation is a low-cost gold producer with operations in the southern state of Oaxaca, Mexico.

Updated San Martin NI 43-101 Technical Report and Economic Assessment

First Majestic Silver Corp. is pleased to announce an updated NI 43-101 Technical Report, Reserve and Resource estimate at the San Martin Silver Mine and an economic assessment of the current expansion program to 1,300 tpd. All figures are reported in US dollars unless otherwise noted.

Formation Metals Welcomes New Board Member Gregory Hahn

Formation Metals Inc. announced today that it has added Mr. Gregory Hahn to its current Board of Directors. Mr. Hahn is the Principal of Greg Hahn Consulting LLC of Lakewood Colorado that provides technical and management advisory services to the mining industry and is a Certified Professional Geologist.

Yale Completes Share Consolidation and Name Change to Alta Vista Ventures Ltd.

Yale Resources Ltd. is pleased to announce that the TSX Venture Exchange has approved the consolidation of its issued and outstanding share capital such that every ten existing shares are consolidated into one new share effective May 28, 2013. Additionally, as of the same date the Company’s name will be changed to Alta Vista Ventures Ltd. The share consolidation and name change received TSX Venture Exchange acceptance on May 28, 2013.

Explotación Minera

Las políticas de libre mercado, a raíz de la firma del Tratado de Libre Comercio firmado en 1994; las concesiones del subsuelo, sustentados en la Ley Minera y la Ley Federal de Derechos; la falta de pago de regalías y el secreto fiscal; la reforma al artículo 27 constitucional realizada en 1992 que permitió que las tierras comunales y ejidos se convirtieran en propiedad privada, explican que un grupo de seis mineras canadienses controlen el 70 por ciento de la explotación del oro en México y posean en territorio nacional reservas de ese metal con un valor total de 83 mil millones de dólares, y que a pesar de los abusos que cometen con comunidades cercanas a los lugares de explotación salgan avantes en conflictos generados por su forma de operar, que se resume en bajos costos de operación, reducidos impuestos y cuotas ambientales, que les significan poca inversión y mucha ganancia.

Seeking Alpha – Goldcorp’s Penasquito Crunch

The management of water resources at Goldcorp’s Penasquito mine in Mexico is far from the only challenge facing the company at the mine, as a court in the Mexican state of Zacatecas has voided the lease on some of the land, while “ordering the territory be returned to the farmers.”

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