Month: July 2013

Levon Resources Ltd. is pleased to announce that Ms. Alka Singh has joined the Levon team as Levon’s Director of Communications. In this capacity, she will be responsible for spearheading strategic direction initiatives and planning, including coordination and management of Levon’s integrated marketing, public relations, and strategic communications program. She will work with both external and internal resources to promote the field of communication and create and communicate the company’s messages and ensure overall continuity of corporate brand consistency and image. In addition, she will be responsible for the overall planning, organization, and direction of Levon’s communication strategies and public information activities and promotion.

Argonaut Gold Inc. announced today that the Company had gold production of 33,586 ounces during the 2nd quarter ended June 30, 2013. This included 28,075 ounces at its 100% owned El Castillo Mine located in Durango, Mexico and 5,511 ounces of gold at its 100% owned La Colorada Mine located in Hermosillo, Mexico. For the first six months of 2013, the company has produced 62,493 ounces of gold. Ramp up of production at La Colorada is continuing, and we expect greater production in the second half of the year.

Gold Resource Corporation announces today it has received a copy of a Form 144 filed with the U.S. Securities and Exchange Commission indicating the sale of 3.4 million shares of common restricted stock by its largest shareholder. The Company has returned over $85 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 and take delivery.

GoGold Resources Inc. is pleased to announce that it has entered into a definitive US$35 million financing package with Red Kite Mine Finance Funds and a US$5 million credit line with CAT Financial for the development and construction of its Parral Tailings Project located in Chihuahua State Mexico. These funds combined with the company’s existing treasury will provide the company with access to more than US$55 million. By way of this arrangement, the company is fully-funded for the anticipated US$35 million capital expenditure to move its Parral Tailings Project into production, and will have approximately US$20 million available funds to explore other growth opportunities

SilverCrest Mines Inc. announces that it has entered into a three year US$40 million secured corporate credit facility with The Bank of Nova Scotia. The credit limit available under the Facility will reduce by US$10 million on each of July 11, 2014 and July 11, 2015, and will mature on July 11, 2016, subject to a one year extension of these dates by mutual agreement. The Facility is to be used for general corporate purposes and to complete the Santa Elena Mine Expansion (¡°Expansion¡±) which will release operational cash flow for other corporate purposes. The Expansion at Santa Elena includes development of the underground mine and a new 3,000 tonnes per day processing plant. The Facility is principally secured by a pledge of the Company¡¯s equity interests in its material subsidiaries, including Nusantara de Mexico S.A. de C.V., and SilverCrest de Mexico S.A. de C.V., and their assets. Depending on the Company¡¯s total indebtedness to EBITDA ratio, the interest rate margin on the Facility will, at the Company¡¯s election, range from either 3.00% to 4.25% over LIBOR, or 2.00% to 3.25% over Scotiabank¡¯s Base Rate in Canada. The availability of the Facility is subject to customary conditions precedent and qualitative and quantitative covenants and the release of existing security held by Macquarie Bank Limited. Until all security for the Facility has been registered in Mexico, the amount available under the Facility will be limited to US$15 million.

Formation Metals Inc. is pleased to provide an update on the Idaho Cobalt Project as well as an update relating to the potential sale of Formation’s Sunshine Precious Metals Refinery at the Big Creek Hydrometallurgical Complex.

Goldgroup Mining Inc. announced today that as part of its continued initiative to review and optimize efficiencies, the Company has released, effective July 1st and 5th 2013, respectively, Kevin Sullivan as Vice President of Exploration and Brigitte McArthur as Corporate Secretary. Effective immediately, Mike Clark, the Company’s current Chief Financial Officer, will now also assume the role of the Company’s Corporate Secretary.

Geologix Explorations Inc. is pleased to announce the results of the election of its directors at the Annual General Meeting of Shareholders held on June 20, 2013.