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.

Globexplore is a customer focused, technology driven mineral exploration drilling contractor devoted to top of class drilling methods and techniques that only years of experience can achieve. Every day we strive to be the industry leader by providing the highest rate of performance, professionalism, safety and environmental responsibility.

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Maza Drilling is a Mexican company established in 2007 in Mazatlán, Sinaloa. Our Canadian founder, Mr. Guy de Launiere, has over 20 years of international experience managing diverse drilling operations. Maza Drilling strives to compete at the highest levels in terms of recovery, effectiveness, efficiency, and affordability at every project while keeping at the forefront of technology to meet our customer’s needs in this demanding market.