Endeavour Silver Corp. regrets to report the death of an employee on Friday, March 28, 2014 due to a rock fall underground at the Porvenir Cuatro mine, part of the Guanaceví mine operations in Durango State, Mexico.
Arian Silver Corporation a silver exploration, development and production company with a focus on projects in the silver belt of Zacatecas, Mexico, reports that good progress continues to be made on the refurbishment of the El Bote custom processing plant, which is expected to process up to 1,500 tonnes per day when operating at full capacity.
Alamos Gold Inc. is pleased to announce that the Company’s Board of Directors has declared a semi-annual dividend of US$0.10 per common share. This represents the Company’s 9th consecutive semi-annual dividend and once again demonstrates its commitment to returning value to shareholders. Including the current dividend, the Company has paid a total of $84 million in dividends to shareholders over the past five years.
Goldgroup Mining Inc. advises that Sonoran Resources LLC and its Mexican subsidiary, SR Servicios Mineros, S.A. de C.V. have filed a lawsuit in Arizona, USA against Oroco Resource Corp., Minas de Oroco Resources S.A. de C.V. and Goldgroup. The lawsuit arises from Oroco’s sale of the Cerro Prieto project to Goldgroup and pertains to certain contracts that were in place between Oroco, Minas de Oroco and Sonoran prior to the Acquisition.
Oroco Resource Corp. advises that Sonoran Resources LLC. and its Mexican subsidiary, SR Servicios Mineros, S.A. de C.V., have filed a lawsuit in Arizona against Oroco, Minas de Oroco Resources, S.A. de C.V., and Goldgroup Mining Inc. arising from events and services related to the engineering, procurement and construction management agreement and related service agreements between Oroco, Minas de Oroco and Sonoran in regard to the mine construction at Cerro Prieto, Sonora State, Mexico. In August of 2013, Oroco sold MOR, the owner of the Cerro Prieto Property, to Goldgroup.
Mexus Gold US announced today that on March 24, 2014, the Company entered in to an agreement with First Pursuit Silver de Mexico S. De R.L. De C.V. whereby Mexus Gold US and Mexus Gold Mining S.A. de C.V. sold 100% of its interest in Mexus Enterprises S.A. de C.V. Mexus Enterprises S.A. de C.V. is the company’s operating entity in Mexico which owned and operated the San Felix Project (“Project”). The total purchase price of $5,000,000 will be paid by the assumption of certain debt and in shares of common stock of Silver Pursuit Resources Limited and $4,000,000 in cash to be paid no later than March 24, 2015. Mexus will continue to hold a 50% security interest in the Project until such time as the full purchase price is paid by FPV. The agreement includes a full release of the Company and its affiliates from all potential claims and liabilities related to the Project, its former joint venture partners and allows the Company to retain possession of all owned machinery located at the San Felix Project.
Alamos Gold Inc. today reported its updated mineral reserves and resources as of December 31, 2013. For a detailed summary of mineral reserves and resources by project, refer to the table below.
BIG NORTH GRAPHITE CORP. announces that its Board of Directors has approved the grant of 1,600,000 stock options to directors, officers, employees and consultants of the Company pursuant to the Company’s approved stock option plan. The options are exercisable at a price of $0.10 per share and have a term of five years from the date of grant.
Orex Minerals Inc. is pleased to announce that it has closed another private placement, issuing 1,342,000 units of the Company at a price of $0.25 per Unit for aggregate gross proceeds of $335,500, which brings the combined total raised in March to $5,000,000 with all financings. Each Unit consists of one common share and one half of a common share purchase warrant. Each whole warrant will be exercisable for one common share of the Company at $0.30 for a period of 24 months from closing, expiring March 31, 2016. The shares sold in the placement and warrants comprising the Units and any shares issued upon the exercise of the warrants are subject to a hold period which expires on August 1, 2014.
Virgin Metals Inc. is pleased to announce that its board of directors has approved and adopted an advance notice by-law. The By-law sets a deadline by which shareholders of the Company must submit a notice of director nominations to the Company prior to any annual or special meeting of shareholders and sets forth the information that a shareholder must include in the notice to the Company for it to be valid.
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