Day: August 7, 2014

Gold Resource Corporation Reports Second Quarter Net Income of $7.8 Million, or $0.14 per Share; Maintains 2014 Production Outlook

Gold Resource Corporation reported production results for the second quarter ended June 30, 2014 of 24,172 ounces precious metal gold equivalent (calculated at actual sales price ratio of 67:1), which generated $33.7 million in revenues and net income of $7.8 million for the quarter, while decreasing its total cash cost per ounce AuEq by 32% over the second quarter of 2013.Gold Resource Corporation is a gold and silver producer with operations in the southern state of Oaxaca, Mexico.The Company has returned over $98 million to shareholders in monthly dividends since commercial production commenced July 1, 2010, and offers shareholders the option to convert their cash dividends and take delivery in physical gold and silver.

McEwen Mining Q2 2014 Financial & Operating Results

Still on track to meet full-year production guidance of 135,000 to 140,000 gold equivalent ounces as production is expected to increase in Q4 2014 due to: 1) 50% more processing capacity at El Gallo 1 compared to the first half of 2014; and 2) higher grades at San José and El Gallo 1 compared to the first half of 2014.

Capstone Mining Reports Record Cash Flow for 2014 Second Quarter

Capstone Mining Corp. today announced its financial results for the three and six months ended June 30, 2014. Net earnings for the quarter were $16.6 million and operating cash flow before changes in working capital was a record $56.5 million. Copper production for the quarter at Capstone’s three operating mines, Pinto Valley, Cozamin and Minto, totalled 27,738 tonnes of copper in concentrates and cathode (26,785 tonnes of payable copper) at a cash cost of $2.03 per payable pound of copper produced.

Mercator Minerals Reports Second Quarter 2014 Results

Mercator Minerals Ltd today announced its financial and operating results for the three months and six months ended June 30, 2014. During the second quarter 2014, the Company generated revenues of $69.8 million, cash flow from operations of $8.4 million, a net loss of $3.0 million (loss of $0.01 per share, basic) or an adjusted net income* of $5.2 million (adjusted earnings of $0.02 per share).

International Northair Mines Ltd. Announces Changes in Management and Non-Brokered Private Placement

International Northair Mines Ltd. is pleased to announce proposed changes to its board of directors, advisors and senior officers concurrent with the completion of a non-brokered private placement offering of up to 30,000,000 Units for gross proceeds of up to $3,000,000. Each Unit will be priced at $0.10 per Unit and will consist of one common share of the Company and one common share purchase warrant. Each Warrant will entitle the holder to purchase one Common Share of the Company at a price of $0.18 per Common Share for a period of 18 months from the closing of the Private Placement and $0.25 per Common Share thereafter until the expiry of the Warrants three years following closing of the Private Placement.

Primero Reports Second Quarter 2014; San Dimas Delivers Record Production

Primero Mining Corp. today reported operational and financial results for the second quarter ended June 30, 2014. During the second quarter the Company reported record production of 63,414 gold equivalent ounces, compared to 39,089 gold equivalent ounces in the same period of 2013 and adjusted net income of $1.1 million ($0.01 per share).

Primero Announces Expansion of Its San Dimas Mine to 3,000 TPD

Primero Mining Corp. today announced it has approved the second phase expansion of its San Dimas gold-silver mine in Mexico. The Company previously elected a staged approach to the full expansion and after successfully completing the first phase of the expansion has now approved the required capital to expand the San Dimas mine and mill to 3,000 tonnes per day or approximately 210,000 to 220,000 gold equivalent ounces per year. Construction of the mill expansion is expected to begin during the first quarter of 2015, with an estimated completion during the second quarter of 2016.

Red Tiger Announces Expiration of Management Cease Trade Order

Red Tiger Mining Inc., announced on July 31, 2014 that it had completed the filing of its audited financial statements for the year ended December 31, 2013 and its related Management Discussion & Analysis and CEO and CFO certifications and the filing of its interim financial statements for the period ended March 31, 2014 and its related Management Discussion & Analysis and CEO and CFO certifications. With completion of the filing of the Required filings, the Company is up to date with its financial filings and the temporary management cease trade order dated May 14, 2014 issued by the Ontario Securities Commission expired as of August 6, 2014.

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.