Month: September 2013

Mercator Minerals Advances Exploration of Strategic Alternatives

Mercator Minerals Ltd. announces that in light of the commodity price environment, capital market conditions and the challenges these pose for the Company, the board of directors has advanced and accelerated its ongoing process to review strategic alternatives. Its special committee of the board of directors (comprised of Robert J. Quinn, Stephen P. Quin and Ron Vankoughnett) will oversee the process on behalf of and in consultation with the full board. In addition, BMO Capital Markets has been engaged as financial advisor in connection with the process. The strategic alternatives being considered include, but are not limited to, a sale of the Company, a business combination with another entity, a sale of all or a portion of the assets of the Company, a strategic investment in the Company or any combination thereof.

Aurcana Announces Departure of VP Operations

Aurcana Corporation wishes to announce that Dr. Sadek El Alfy, Vice President Operations, has left Aurcana Corporation. The Company would like to wish him every success in his future endeavors.

Seeking Alpha – Coming Soon? Mexico’s 7.5% Mining Royalty Tax

For many years, Mexico has been considered a very friendly place to explore and mine precious metals and base metals. However, that may soon begin to change if the proposed 7.5% royalty is enacted. Under the terms of the proposal, which was presented to the Mexican legislature earlier this month, a 7.5% royalty would be applied to EBITDA income (earnings before interest, taxes, depreciation, and amortization) for all mining operations. An additional 0.5% royalty would be applied to income from gold, silver, and platinum, which would bring the total tax to 8%. Earlier in the year, a 5% royalty was proposed but now it has been raised to 7.5% minimum. The proposal is currently being studied and analyzed by the mining chamber.

Canadian Mining Receives Cancellation of Option Deal on Bullard Pass Gold and San Bernardo Projects from Ironwood Gold Corp.

Canadian Mining Company Inc. reports it has received notice of cancellation September 25, 2013 of the Option and Joint Venture Agreements with Ironwood Gold Corp. on the Company’s San Bernardo and Arizona Bullard Pass Gold Projects as released on February 5, 2013 and May 30, 2013. Ironwood has been unable to meet its obligations laid out in the Agreements due to the difficult conditions facing junior mining companies in funding exploration.

Prospero Completes Private Placement

Prospero Silver Corp. is pleased to announce that it has completed the non-brokered private placement first announced on September 4, 2013 of 5,000,000 Shares at a price of $0.05 per Share, for gross proceeds of CDN $250,000.

Mammoth Announces Results From Cyanide Leach Bottle Roll Tests on Its Tenoriba Project, Mexico

Mammoth Resources Corp. is pleased to announce results from bottle roll tests on 23 drill hole samples from the 2008 Masupari Gold drill program (refer to the company’s press release dated July 27, 2013, or the company website for drill locations) and 5 surface samples from the Los Carneritos target area on the company’s Tenoriba project in the Sierra Madre precious metal belt in southwestern Chihuahua State, Mexico.

Torex announces filing of technical report for its Media Luna Project

Torex Gold Resources Inc. is pleased to announce that it has filed a technical report prepared in accordance with National Instrument 43-101 in support of the Company’s September 16, 2013 news release, which included an inferred mineral resource estimate for its Media Luna Project in Mexico.

Gold Resource Corporation Declares September Monthly Dividend

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

Candente Gold Update on Historic El Oro Tailings Recoveries

Candente Gold Corp. is pleased to report on historic metallurgical test work results from the Mexico Mine tailings which indicate potential for encouraging precious metal recoveries. A summary of the detailed metallurgical test work results can be found in a NI 43-101 F1 amended technical report on the El Oro property in Mexico filed on September 25th, 2013 (www.sedar.com).

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