Month: October 2013

Mexican tax reforms tough on Canadian miners

Significant reforms to Mexico’s tax regime, which moved one step closer to reality this week, are the latest headwind negatively impacting Canada’s beleaguered mining sector.

Aurcana Provides Update

The Company is pleased to report the appointment of Mr. Bob Pepper, President & CEO of Yava Technologies Inc. (Yava), as a Technical Advisor.

Capstone Mining 2013 Third Quarter Continues to Deliver Strong Cash Flow

Capstone Mining Corp. today announced its financial results for the three and nine months ended September 30, 2013. Capstone posted a net loss for the quarter of $4.6 million. Operating cash flow before changes in working capital(1) was $12.7 million. Capstone ended the quarter with cash on hand of $457.0 million. Copper production for the quarter at Capstone’s two operating mines, Cozamin and Minto, totalled 18.9 million pounds in concentrates (18.2 million pounds of payable copper) at a C1 cash cost(1) of $1.57 per payable pound of copper produced.

Vista Gold Corp. Announces Third Quarter 2013 Results And Provides Update On Recent Activities

Vista Gold Corp. today announced its unaudited financial results and highlights for the third quarter ended September 30, 2013. Management’s quarterly conference call to discuss these results is scheduled for 2:30pm MDT on October 31, 2013. The Company’s full financial results, Management’s Discussion and Analysis together with other important disclosures can be found in the Company’s Quarterly Report on Form 10-Q, filed with the U.S. Securities and Exchange Commission and the Canadian securities regulatory authorities.

El Tigre Silver Closes Private Placement for Gross Proceeds of $707,000

El Tigre Silver Corp. is pleased to announce that it has closed its previously announced non-brokered private placement for an aggregate of 2,828,000 units of the Company for aggregate gross proceeds of $707,000. Each Unit consists of a common share of the Company and one-half of a common share purchase warrant. Each whole Warrant entitles the holder to acquire an additional common share of the Company for a period of 24 months from the date of issue at a price of $0.38 per share, provided that, if over a period of 20 consecutive trading days after the expiry of the hold period on the warrants, the daily volume weighted average trading price of the common shares of the Company on the TSX Venture Exchange (or such other stock exchange on which such shares are listed) is greater than $0.50, then at the Company’s discretion, it may, within 10 days of such 20 day period, accelerate the expiry date of the Warrants to a date 30 days after the date of the notice.

IMPACT Silver Discovers High-Grade Gold and Silver adjacent to its Noche Buena Mine in Zacualpan, Mexico. Intersections include 1,409.8 g/t silver over 2.07 meters and 17.1 g/t …

IMPACT Silver Corp. is pleased to announce initial results from the first phase drill program on the San Juan Project located adjacent to the producing Noche Buena Mine. San Juan is located four kilometers southwest of IMPACT’s 500-tonne-per-day Guadalupe Production Centre in the Royal Mines of Zacualpan Silver-Gold District in south-central Mexico.

Coeur Announces Exchange Offer Extension

Coeur Mining, Inc. today announced that it will extend its offer to exchange up to $300,000,000 aggregate principal amount of its outstanding 7.875% Senior Notes due 2021 for a like principal amount of its new 7.875% Senior Notes due 2021. All other terms of the Exchange Offer, as described in the prospectus dated September 30, 2013, remain unchanged.

Evrim Resources Corp. Reports Drilling, Geophysical and Geochemical Program Completed at Cumobabi

Evrim Resources Corp. is pleased to report drill results from the exploration program on the Company’s wholly owned Cumobabi copper-molybdenum porphyry project in Sonora, Mexico. Evrim and exploration partner FQM ( Akubra ) Inc. (formally Inmet Mining Corporation) have completed five widely-spaced drill holes totaling 2,943 metres. The program at Cumobabi tested geological, geochemical and geophysical targets generated by the 2012 exploration program. The program also comprised additional IP surveying totaling 38 line-kilometres in two blocks northeast and northwest of the 2012 survey.

Corex Santana Progress Report to Shareholders

Corex Gold Corp. would like to inform the shareholders of the recent progress on its Santana Project in Sonora State, Mexico. Drilling is ongoing, and almost complete on the first phase program by Vale Exploraciones Mexico S.A. de C.V., a wholly-owned subsidiary of Vale S.A.

Gold Resource Corporation Declares October Monthly Dividend

Gold Resource Corporation declares its monthly instituted dividend of $0.03 per common share for October 2013 payable on November 25, 2013 to shareholders of record as of November 11, 2013. Gold Resource Corporation is a gold and silver producer with operations in the southern state of Oaxaca, Mexico.

Vendome Resources Announces New Chief Executive Officer

Vendome Resources Corp. is pleased to announce the appointment of Mr. John Priestner as the President and Chief Executive Officer of the company, effective immediately. Mr. Priestner has also been elected to the Board of Directors.

Timmins Gold Reports $4.8 million in earnings for Q3 2013

Timmins Gold Corp. is pleased to report its financial results for the third quarter ended September 30, 2013. The comparative period is the three months ended September 30, 2012. All results are presented in United States dollars unless otherwise stated. Readers should refer to the Q3 2013 Management’s Discussion and Analysis and condensed interim consolidated financial statements for complete information.

Starcore International Mines Ltd.: Year End Results

Starcore International Mines Ltd. has filed the results for the year ended July 31, 2013 for the Company and its mining operations. The full version of the Company’s Financial Statements and Management’s Discussion and Analysis can be viewed on the Company’s website at, or SEDAR at All financial information is prepared in accordance with IFRS and all dollar amounts are expressed in thousands of Canadian dollars unless otherwise indicated.

Responde Iris a mineros de Canadá

Nunca en la historia reciente de nuestro país habíamos sido testigos de un saqueo a las riquezas mineras del país como el que algunas de sus empresas han realizado al cobijo de una ley minera laxa, la más laxa de América Latina, la más permisiva del continente.

NSX Silver Acquires 800 Hectares of Prospective Property in Sonora, Mexico

NSX Silver Inc. reports that it has acquired by request to the Mexican government two mining concessions covering a total of 856 hectares located in the Municipality of Tecoripa, State of Sonora, Mexico. The mining concessions, designated Guisa 1 and Guisa 2, are contiguous, and are situated approximately 140 kilometers east of the capital city of Hermosillo.

Goldgroup Announces the Filing of Legal Action

Goldgroup Mining Inc. announces that it has filed a legal action before the appropriate criminal authorities in Mexico concerning recent activities undertaken by Koy Wilber Diepholz, shareholder, President and Chairman of the Board of Directors of Dyna Resources de Mexico, S.A. de C.V. and Chairman, Chief Executive Officer and Treasurer of DynaResources Inc. DynaMex is owned 50% by Goldgroup, 49% by DynaUSA and 1% by Diepholz.

Mexus Mining Updates

Mexus Enterprise heap leaching continues to produce gold. Our RC drilling program on the newly acquired San Felix is going as planned with 5 holes completed with near surface intercepts from 78′ to 126′ thick mineralized zones found, the drilling will continue. The San Felix mine is known to have been mined underground by the Spaniards some 350 years ago to a depth of 300′. Some of the old workings are open today. Up until recent times, mining anything under two ounces per ton was not considered economically feasible. Mexus will use contract miners that already have the necessary equipment needed to mine 6000 tons a day. Recent assay show 0.300 to 11.430 grams per ton gold and 18.16 grams per ton silver with an average of 2 grams per ton gold. Although our drilling shows great potential, Mexus is considering all options at this time.

MAG Silver Announces Start of Juanicipio Underground Development

MAG Silver Corp. announces that its joint venture partner and project operator, Fresnillo plc, has commenced underground development at the Juanicipio project located in the Fresnillo District, Zacatecas State, Mexico. Portal area preparation is in the final stages of completion and a continuous miner is planned to start excavating the uppermost part of the access ramp (see photo below). The initiation of underground work follows a year of engineering, hydrological and environmental studies in support of required permits, all of which are now in hand. The underground work is being carried out under a previously approved initial development budget that includes the commencement of the first 2,500 metres of ramp advancement. The Juanicipio Project is held in Minera Juanicipio S.A. de C.V. (“Minera Juanicipio”), a Mexican joint venture company owned 44% by MAG and 56% by Fresnillo.

Layne, A Granite Company, provides sustainable solutions for water resources and mineral exploration. Originally established in 1882, Layne offers a rich history of delivering safe, professional, and reliable water and minerals solutions throughout North and South America. Granite acquired Layne and its subsidiaries in the fall of 2018, to further Granite’s strategy to grow through acquisition and diverse end market expansion.
Major Drilling Group International Inc. is one of the world’s largest drilling services companies primarily serving the mining industry. Established in 1980, Major Drilling has over 1,000 years of combined experience and expertise within its management team alone.

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