Month: June 2013

Oroco Receives Demand for Payment

Oroco Resource Corp. announces that it has received a demand from Wexford Catalyst Trading Limited for payment of the outstanding principal, in the amount of $750,000, and the associated interest and fees with regard to the debenture issued on May 2, 2012 by the Company to Goldman Sachs International FBO Wexford Catalyst Trading Limited. The Company has also received a demand from Wexford Spectrum Trading Limited for payment of the outstanding principal, in the amount of $3,000,000, and the associated interest and fees with regard a debenture issued on May 2, 2012 by the Company with regard to the debenture issued on May 2, 2012 by the Company to Goldman Sachs International FBO Wexford Spectrum Trading Limited. The aggregate accrued interest to date outstanding on the Debentures is approximately $257,000.

Highvista Gold Inc. Completes $963,000 Financing and Enters Into Option and Joint Venture Agreement

Highvista Gold Inc. is pleased to report that it closed a non-brokered private placement financing for gross proceeds of $963,000 through the issuance of 4,815,000 units of the Company to AuRico Gold Inc. at a price of $0.20 per Unit. Each Unit consists of one common share of the Company and one-half of one common share purchase warrant, each whole Warrant entitling AuRico Gold to purchase one common share at an exercise price of $0.25 per share until June 28, 2015. The securities comprising the Units are subject to a statutory hold period that will expire on October 29, 2013.

Aurion Resources Ltd.: Corporate Update

Aurion Resources Ltd. reports that effective June 13, 2013, the Board of Directors of the Company adopted an advance notice policy for the purpose of providing shareholders, directors and management of the Company with a clear framework for nominating directors of the Company in connection with any annual or special meeting of shareholders.

World Gold Council’s Guidance Note on Non-GAAP Metrics – All-In Sustaining Costs and All-In Costs

The World Gold Council today publishes a Guidance Note on “all-in sustaining costs” and “all-in costs” metrics, which gold mining companies can use to report their costs as part of their overall reporting disclosure. The World Gold Council has worked closely with its member companies to develop these non-GAAP measures which are intended to provide further transparency into the costs associated with producing gold.

NWM Announces Issuance of Bonus Shares

NWM Mining Corporation announces that, further to its news release dated June 14, 2013, it has paid $75,000 USD and issued 28,533,000 common shares to the Company’s lender, Global Resource Fund, as the initial extension fee for extending the maturity date on the Company’s current debt facility of $18,500,000 USD. Following the issuance of the Bonus Shares, the Lender holds 60,033,008 common shares in the capital of NWM.

Gold Resource Corporation Declares June Monthly Dividend

Gold Resource Corporation declares its monthly instituted dividend of $0.03 per common share for June 2013 payable on July 23, 2013 to shareholders of record as of July 11, 2013. Gold Resource Corporation is a low-cost gold producer with operations in the southern state of Oaxaca, Mexico.

QRS Capital Corp. Announces Results of Annual and Special Meeting of Shareholders

–election of Diego Benalcazar, Paul Roberts, James Rogers and John Seaman
to the board of directors of the Company;
–appointment of Grant Thornton LLP as auditors of the Company for the
ensuing year and authorization of the directors to fix their
remuneration;
–approval of the Company’s stock option plan;
–amendment of By-Law No. 1 of the Company relating to the advance notice
provision;
–changing the name of the Company to “Sendero Mining Corp.” (the “Name
Change”); and
–consolidating the issued and outstanding common shares of the Company
into 20,000,0000 common shares (the “Consolidation”).

AuRico Gold Appoints Non-Executive Chairman

AuRico Gold Inc. today announced the appointment of Mr. Alan Edwards as non-executive Chairman of the Board effective July 1, 2013. Mr. Edwards was appointed as an independent director on May 13, 2010 and has served as Chair of the Sustainability Committee.

Capstone Mining Reports 2012 Year End Financial Results

Capstone Mining Corp. today announced its financial results for the year ended December 31, 2012. Net earnings for the year were $59.6 million and operating cash flow before changes in working capital was $114.4 million. Net earnings for the fourth quarter were $18.5 million and operating cash flow before changes in working capital was $24.7 million. Capstone ended the year with cash on hand of $499.9 million, a $200 million credit facility and no long-term debt. Copper production for the year at Capstone’s two operating mines, Cozamin and Minto, totalled 82.8 million pounds in concentrates (79.6 million pounds of payable copper) at a total cash cost of $1.50 per payable pound of copper produced.

Goldgroup Announces Appointment of Keith Piggott as President & CEO

Goldgroup Mining Inc. announced today that its Board of Directors has appointed Chairman & Director, Mr. Keith Piggott, as President and Chief Executive Officer, replacing Dr. Hans von Michaelis. Dr. von Michaelis has resigned as the Company’s President and CEO to pursue other business interests but remains a committed member of its Board of Directors. Mr. Piggott has a proven track-record of operating companies efficiently through difficult economic times and is also the Company’s largest shareholder.

Aurcana Announces $50 million Loan Facility

Aurcana Corporation is pleased to announce that it has accepted an indicative terms sheet from RK Mine Finance, part of the Red Kite Group, one of the largest metal merchants in the world, for an unsecured 3 year loan facility of $50 million and silver Offtake Agreement for the silver produced at the Shafter mine.

Guerrero Exploration Inc. (TSX: V.GEX) was up 4.4% to 12 cents.

The stock is reacting to news that the junior explorer had received the title certificates for its 100% owned Cibola and Coatepec concessions, and expects the Olinala concession to be granted in the coming months. Collectively, the three concessions overlap a combined surface area of 137,546 hectares in the Mixteca Terrane of eastern Guerrero State, Mexico. The company expects that exploration of these concessions will start in the fall of 2013.

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