Day: February 12, 2014

Agnico Eagle Mines Limited today reported a quarterly netloss of $453.3 million, or a net loss of $2.61 per share for the fourth quarter of 2013. This result includes, a non-cash after tax impairment loss of $436.3 million ($2.51 per share), a non-cash deferred tax charge (primarily related to a new Mexican mining tax law enacted in the fourth quarter of 2013) of $47.2 million ($0.27 per share), a non-cash impairment loss on available for sale securities of $10.2 million ($0.06 per share), a non-cash stock option expense of $4.3 million ($0.02 per share), other non-recurring expenses of $5.7 million ($0.04 per share), and a non-cash foreign currency translation gain of $6.2 million($0.04 per share). Excluding these items would result in adjusted net income of $44.2 million ($0.25 per share) for the fourth quarter of 2013. In the fourth quarter of 2012, the Company reported net income of $82.8 million or $0.48 per share.

Further to the Company’s news releases of November 7, 2013 and January 22, 2014, the Company advises that it has agreed to final terms regarding its private placement with Global Resources Investments Ltd. The Company will be seeking to raise $1,200,000 through the sale of 20,000,000 common shares at $0.06 per share.

Del Toro has initiated a “rebranding” program in order to best align its focus and goals with a new market image. The program will consist of a Company name change, new logo, new website and an associated investor relations campaign. Management believes such a program will enhance market awareness of the Company and provide a fresh start to facilitate the anticipated growth of the Company in 2014 and the future.

Rare Earth Minerals PLC Wednesday announced that it has conditionally raised GBP4.6 million gross at 0.4 pence per share to fund the expansion of its Mexican lithium interests.

Santacruz Silver Mining Ltd. is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by Canaccord Genuity Corp. and including Raymond James Ltd., pursuant to which the Underwriters have agreed to purchase, on a bought deal basis pursuant to a short form prospectus, 8,750,000 common shares of the Company at a price of C$1.00 per Common Share for gross proceeds of C$8,750,000. In addition, the Company has granted the Underwriters an option to purchase additional Common Shares at the Offering price to raise additional gross proceeds of up to 15% of the Offering to cover over-allocations, if any, exercisable for a period of up to 30 days after the closing date.

Torex Gold Resources Inc. announced today that it has closed its previously announced bought deal offering of units of the Company. A total of 119,830,000 Units have been issued at a price of C$1.20 per Unit, for aggregate gross proceeds of C$143,796,000, which includes the full exercise by the underwriters of the over-allotment option for 15,630,000 Units. Each Unit consists of one common share of the Company and one-half of one common share purchase warrant. Each whole common share purchase warrant entitles the holder to purchase one common share of the Company at an exercise price of C$1.50 until August 12, 2014.