Month: December 2014

Bacanora notes scoping study by Rare Earth Minerals

BACANORA MINERALS LTD. notes the announcement made today by Rare Earth Minerals plc regarding their independently commissioned and funded scoping study on the El Sauz and Fleur concessions which form a part of the Company’s Sonora Lithium Project in Sonora State in Northern Mexico. A summary of the REM Scoping Study has been provided by REM in their press release today. Bacanora has not received a copy of the REM Scoping Study and is unable to comment on the valuations, assumptions, conclusions or methodology employed in the REM Scoping Study. Bacanora commends REM for its initiative in commissioning its independent study and its efforts in supporting the continued assessment and development of the concessions that are the subject of the study.

San Marco Resources Revises Previously Announced Financing Terms

San Marco Resources Inc. announces that, as a result of changes in market conditions, the Company’s board of directors has revised certain pricing terms of the non-brokered private placement financing announced on October 24, 2014. The proposed private placement financing will still occur on a post (five into one) consolidation basis of the Company’s shares, which consolidation is subject to shareholder approval at a special meeting of shareholders being held on December 22, 2014.

Coeur Announces Initial Resource Estimate at Palmarejo’s Independencia Deposit

Coeur Mining, Inc. announced today an initial resource estimate for its high-grade underground Independencia silver-gold deposit, located approximately 800 meters east of the Guadalupe underground mine currently in production at Coeur’s Palmarejo silver-gold mine in Chihuahua, Mexico. The updated estimate was prepared with the assistance of Mine Development Associates (MDA, of Reno, Nevada and includes data from 61 core drill holes totaling 27,000 meters.

Nuevos impuestos golpean a mineras

Las empresas del sector minero en México enfrentan una mayor carga fiscal, debido a la reforma que entró en vigor este año, que incorpora nuevos derechos a la minería, los cuales restan competitividad al sector y podrían reducir las inversiones, según la Cámara Minera de México.

Skeena Announces Flow-Through Private Placement Financing

Skeena Resources Limited proposes to raise up to $500,000 in a non-brokered private placement financing, on a best efforts basis, by the issuance of Flow Through shares, subject to regulatory approval. Each FT share will be priced at $0.15 CDN per share. Shares issued under this financing will be subject to a hold period of 4 months and one day from the closing date of the offering. Finders’ fees may be payable to qualified agents on a portion of the funds raised in accordance with Exchange regulations.

Santacruz Silver Announces Director Resignation

Santacruz Silver Mining Ltd. announces that Mr. James Hutton has resigned as a Director with the Company. Mr. Hutton has been with Santacruz since it completed its first public share offering in 2012. The Company is conducting a search for a replacement director which it expects to complete in early 2015.

Chesapeake Provides Development Plan For Metates Updated Pre-Feasibility Study

Chesapeake Gold Corp. wishes to announce that the Company and M3 Engineering &Technology together with several industry leading international consultants are currently working towards the completion of an updated pre-feasibility study on the Metates Gold-Silver-Zinc Project located in Durango State, Mexico. The updated PFS will build on the results of the original PFS titled “Metates Gold-Silver Project NI 43-101 Technical Report Preliminary Feasibility Study” dated March 18, 2013.The Metates Project hosts one of the largest undeveloped gold, silver and zinc reserves in the world.

Scorpio Mining Corporation and U.S. Silver & Gold Inc. Receive Shareholder Approval for Business Combination

Scorpio Mining Corporation and U.S. Silver & Gold Inc. are pleased to announce that their respective shareholders have approved the previously announced plan of arrangement to complete a merger of equals that will combine their respective businesses. Shareholders of each company approved the Transaction at their respective special meetings of shareholders held today with over 99% of the votes cast in favour of the Transaction in each case.

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