Month: July 2014

Quaterra Amends Terms Of Share Purchase Warrants

Quaterra Resources Inc. announces that it has received the written consent of all Warrant holders to amend the terms of outstanding Warrants and has accordingly amended the exercise price of 6,541,571 share purchase warrants from US$0.53 to US$0.16.

Advierte senador daños en pesca por minería en lecho marino

El senador Ricardo Barroso Agramon alertó del riesgo que corre la actividad pesquera en Baja California Sur, por la pretensión de empresas privadas de iniciar la explotación y exploración de fosfatos en el lecho marino del Golfo de Ulloa.

Gold Resource Corporation Declares July Monthly Dividend

Gold Resource Corporation declares its monthly instituted dividend of $0.01 per common share for July 2014 payable on August 25, 2014 to shareholders of record as of August 11, 2014. Gold Resource Corporation is a gold and silver producer with operations in the southern state of Oaxaca, Mexico.

Mammoth Signs Surface Rights Agreements, Permitting Drilling at Its Tenoriba Property, Mexico

Mammoth Resources Corp. would like to announce that it has signed surface rights agreements that will permit drilling on its Tenoriba precious metal property in the prolific Sierra Madre Precious metal belt, Mexico. The agreements are with two ejidos (an ejido is a communal municipal governance committee which has stewardship over surface land usage); the Baborigame ejido and the Santa Rosa ejido, boundaries of which each cover a portion of the Tenoriba property. In the case of the Santa Rosa ejido and Baborigame, respectively and are renewable on equal terms for periods to be determined, by votes in favour of such extension and terms of extension, at the time of such votes. In the case of Santa Rosa ejido, the surface right agreement was originally signed on April 13, 2014 and is for a term of three years, requires payment of Mexican Peso (MN $) 10,000 (approximately US$800) every six months and is renewable for a second three year period with the same general terms, subject to a new ejido assembly vote and can be cancelled at Mammoth’s convenience. In the case of the Baborigame ejido, the surface right agreement was signed on July 20, 2014 and is presently in the process of being notarized. The agreement is for a term of two years, requires payment of MN $15,000 (approximately US$1,200) every six months and is renewable for an additional year period with the same general terms, subject to a new ejido assembly vote and can be cancelled at Mammoth’s convenience. The difference in amounts to each ejido is on the basis of the amount of ejido property existing on the Tenoriba property and population of each ejido community.

Summer Exploration Program Commenced at Penoles

MORRO BAY RESOURCES LTD. announces that, further to the news release dated July 7, 2014, the $500,000 summer exploration program at the Peñoles property has commenced. Riverside Resources Inc. and Morro Bay have agreed that the Summer Exploration program will be focused on targets in the prospective areas at Peñoles beyond the previously confirmed deposits at the El Capitan and Jesus Maria targets. This summer exploration program consists of sampling, trenching, and drilling on some of these identified potential targets on the property.

Bacanora Minerals Shares Triple Following AIM IPO

Mexican lithium miner Bacanora Minerals Ltd began trading at a significant premium following its new AIM listing in London, being quoted at almost three times its IPO price by midday Friday.

Oceanus Resources Closes $2.8 Million Private Placement

Oceanus Resources Corporation is pleased to announce the closing of the previously announced non-brokered private placement and that it has issued 8,000,000 common shares at a price of $0.35 per share for aggregate proceeds of $2,800,000.

Teck Reports Unaudited Second Quarter Results for 2014

Teck Resources Limited reported second quarter adjusted profit attributable to shareholders of $72 million, or $0.13 per share, compared with $197 million or $0.34 per share in 2013. Profit attributable to shareholders was $80 million, or $0.14 per share, compared with $143 million, or $0.25 per share, a year ago.

Mexus Gold US Update

Mexus Gold US announced today that it has signed an agreement with North Pacific Gold Inc. for cable salvage, surveying, and mapping of off shore cable in the State of Alaska. North Pacific has a 100′ vessel equipped with heavy lifting capabilities and support equipment that is perfect for surveying, mapping, and sampling operations in the offshore waters of Alaska. Mexus will contribute support, knowledge, and stored cable equipment to North Pacific. In exchange, Mexus will receive 11% of any cable that might be recovered by North Pacific from 8/4/2014 thru 8/4/2020. North Pacific is headed up by Paul Thompson Jr. who has worked tirelessly to provide the vessel and other logistical support to make this operation possible. This agreement allows Mexus to benefit from the off shore cable salvage program yet stay focused on its Julio/Santa Elena Mexico mining operation. Paul Thompson Sr, CEO of Mexus Gold US, stated, “I want our shareholders to understand that this vessel was funded by outside parties and doesn’t affect our plans in Mexico.”

Freeport-McMoRan Reports Second-Quarter and Six-Month 2014 Results

James R. Moffett, Chairman of the Board; Richard C. Adkerson, Vice Chairman, and FCX President and Chief Executive Officer; and James C. Flores, Vice Chairman, and FM O&G President and Chief Executive Officer, said, “Our second-quarter results reflect continued strong operating performance in our North America, South America and Africa mining operations and from our oil and gas operations, partly offset by the effects of reduced output from Indonesia. We are encouraged by our discussions with the Indonesian government toward reaching a near-term agreement to enable resumption of PT Freeport Indonesia’s copper concentrate exports. During the quarter, we completed a $3.1 billion sale of our Eagle Ford shale assets and acquired additional interests in our Deepwater Gulf of Mexico focus area. We also commenced copper production from our expanded Morenci operation and achieved important progress in our mining and oil and gas development projects to provide future growth in production, cash flows and attractive investment returns. We remain focused on our opportunities to increase value for shareholders through the development of our large resource base, effective management of our operations, prudent capital and balance sheet management, and providing attractive cash returns to shareholders.”

Gold Resource Corporation Reports 2014 Second Quarter Production of 24,170 Ounces Precious Metal Gold Equivalent; Maintains Annual Outlook

Gold Resource Corporation reports preliminary production results for the second quarter ended June 30, 2014 of approximately 24,170 ounces precious metal gold equivalent. Gold Resource Corporation is a gold and silver producer with operations in southern Mexico. The Company has returned over $98 million to shareholders in monthly dividends since declaring production July 1, 2010, and offers shareholders the option to convert their cash dividends into physical gold and silver and take delivery.

Pan American Goldfields Ltd Announces Ruling

Pan American Goldfields Ltd is pleased to announce that the Judge of the Eighth Civil Court of the Morelos Judicial District has ruled in favor of Sunburst Mining de México SA de CV, a wholly-owned subsidiary of the Company, to force MRT to fulfill all its contractual obligations despite the lawsuit (mercantile ordinary procedure) filed by Corporativo Minero with the Second Civil District Court of the Morelos District, Chihuahua. According to the production agreements between MRT and Sunburst Mining de México SA de CV / Pan American Goldfields Ltd, MRT has to pay Sunburst de México the money owed to it for the production of the last quarter of 2013 and provide monthly and quarterly financial reports of the operation and audit the books of the operation on an annual basis and cooperate and act in good faith to assist Pan American Goldfields with its disclosure and audit requirements.

Cayden drills 8 meters of 16.1 g/t gold and 55 meters of 0.92 g/t gold at Angostura

Cayden Resources Inc. is pleased to announce additional drill results from Angostura, the third of nine priority targets being tested at the Company’s El Barqueño Gold project located in Jalisco State, Mexico.
Highlights include 8 meters of 16.1 g/t Au including 2.0 meters of 41.9 g/t Au in hole 91 and 55 meters of 0.92 g/t Au and 0.30% Cu in hole 86.

Kootenay announces drill program to commence August 2014 on Promontorio’s La Negra Diatreme Breccia prospect

Kootenay Silver Inc. is pleased to announce drill contracts are in place, drill targets have been identified and road construction is underway in preparation for an upcoming phase I drill program on its La Negra Diatreme Breccia prospect, located approx. 7 kms north of Kootenay’s flagship Promontorio Silver Resource in Sonora, Mexico. Drilling is slated to commence in lateAugust 2014 and is expected to include a minimum 2,500 meters of core drilling.

Oceanus Resources Corporation Announces Private Placement

Oceanus Resources Corporation announces that it intends to complete a non-brokered private placement financing to raise up to $3,000,000 at a price of $0.35 per share. The Private Placement will close on or before Friday, July 25, 2014. The proceeds from the Private Placement will be used for exploration of Oceanus’ La Lajita gold property located in Durango. The common shares from this Private Placement will be subject to a 4-month hold period. The Private Placement is subject to TSX Venture Exchange and other required regulatory approval.

Catalyst Copper Announces Closing of Non-Brokered Private Placement

Catalyst Copper Corp. announces that further to its news release dated June 23, 2014, it has closed its non-brokered private placement of 20,000,000 units at a price of $0.07 per unit for gross proceeds of $1,400,000. Each unit consists of one common share and one full common share purchase warrant. Each whole common share purchase warrant will be exercisable at $0.10 per common share until July 21, 2019. The securities issued in connection with this private placement are subject to a four month statutory hold period expiring on November 22, 2014. Proceeds will be used for payment of costs of the study by JDS Energy and Mining Inc., existing payables including $1,200,000 of secured loans, and for general working capital.

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