Month: January 2015

The Company has advanced the development of the “North Nose” area of the Project. It is expected that this will increase gold production in 2015/2016. While anticipated, this work was not included in the previously approved capital expenditures and will result in an increase of estimated capital expenditures in the amount of $22 million. The total Capex Estimate for the Project is now at $800 million, representing an increase of approximately $53 million from the previously approved $725 million capex budget. In addition to the $22 million increased capital expenditures related to the “North Nose” area of the Project, the Capex Estimate also includes approximately $47 million of contingency and accounts for the escalation of costs compared to the 2012 feasibility estimates. The Project remains fully funded and a $60 million second draw on the previously announced project finance facility was received on January 28th.

Skeena Resources Limited is pleased to announce the appointment of Michael Cathro as Vice President of Operations and Wendy Chan as Vice President of Corporate Development. They both join Skeena’s management team effective immediately. Subject to TSX Venture Exchange approval, the Company granted Mr. Cathro 600,000 incentive stock options with a term of 5 years, expiring on January 29, 2020. The options allow the holder to purchase a common share in the Company at a price of $0.10. The options will vest over a period of three years. Any shares issued on the exercise of these stock options will be subject to a four-month hold period from date of grant.

Santacruz Silver Mining Ltd. is pleased to announce fourth quarter 2014 production of 255,487 silver equivalent ounces from the Company’s Rosario Mine in San Luis Potosi, Mexico. This production represents a 32.8% quarter over quarter increase as compared with Q3 2014 silver equivalent ounces. The full calendar year of production at the Rosario Mine for 2014 resulted in 776,787 silver equivalent ounces.

The London-listed Mexican miner’s silver production climbed by 15.5 per cent to 12.3m ounces, ahead of its own guidance as it processed more ore at its Saucito mine and increased production at its Silverstream mine.

Southern Silver Exploration Corp. plans to issue up to 20,000,000 Units in a non-brokered private placement at a price of $0.08 per Unit to raise proceeds of $1,600,000. Each Unit will consist of one common share and one share purchase warrant, with each warrant exercisable to purchase one additional common share for a period of five years at an exercise price of $0.08 per share.

Firma Holdings Corp. announces that Tara Gold Resources Corp. is distributing 0.38843 shares of Firma for each outstanding share of Tara Gold. Any fractional shares will be rounded down to the nearest whole share. The Record Date is January 28, 2015, and the Payment Date is February 5, 2015.