Month: February 2015

Golden Minerals Reports 2014 Year-End Results

For the year ending December 31, 2014 Golden Minerals recorded revenue of $0.2 million and costs of metals sold of $1.7 million at the Velardena Properties in Mexico for a negative gross margin of $1.5 million. Included in the cost of metals sold is a $1.2 million write down of finished goods inventory to estimated net realizable value. Revenue and cost of sales figures reflect approximately two months of testing the refurbished plant and processing of low grade material primarily mined for development. Mining recommenced in July 2014 and processing in November 2014 after mining activity was suspended in June 2013. The Company recorded a 2014 net loss of $18.8 million.

Morro Bay Announces Release of First Quarter Financial Results

Morro Bay Resources Ltd. announces it has filed its Q1, 2015 consolidated condensed interim financial statements and the related managements discussion and analysis of those financial statements. Copies of the Financial Statements and MD&A can be viewed at or on the Companys website at

Soltoro Completes Panel Sampling Program on Tecolote Project

Soltoro Ltd. has completed the panel sampling on its 100%-owned Tecolote gold project located in Jalisco, Mexico. The Tecolote Project lies within the Guachinango District, which includes Soltoro’s El Rayo Primary Silver Project and the El Barqueno Gold Project recently acquired by Agnico Eagle Mines Limited. All three projects lie within a broad northwest-trending belt of gold-silver mining districts that also includes Endeavour Silver’s San Sebastian Project.

Mexus Gold US Updated Geology Report

Mexus Gold US released an amended geology report for its Santa Elena/Julio property. The report, written by Geologist Cesar Lemas, expands on his previously published report. Most notable is Mr. Lemas’ recommendation to pursue an aggressive drilling program leading to production. CEO Paul Thompson added “This report supports our short term goal which is to get the underground mine operation started and to begin a drilling program.” The updated report can be found here. Cesar Lemas Updated Report

Tarsis Resources Ltd. Enters Into Lockup Agreements With Estrella Gold Corporation’s Directors, Officers and Large Shareholders

Tarsis Resources Ltd. has entered into lockup agreements with Estrella Gold Corporation officers, directors and large shareholders pursuant to which the parties agreed to refrain from selling or transferring an aggregate of 22,907,325 shares of Estrella’s common stock they own, representing 49.1% of the total issued and outstanding Estrella’s shares, until the Plan of Arrangement between Tarsis and Estrella has been completed and the new entity is formed.

SilverCrest President to Take Leave of Absence

SilverCrest Mines Inc. announced today that N. Eric Fier, President and Chief Operating Officer, has taken a partial leave of absence to deal with certain matters of personal health. Dunham L. Craig, Director, has been appointed Interim President and will assume the President’s responsibilities on a temporary basis until further stages of a succession plan developed by the Board of Directors can be implemented. Mr. Fier will remain as COO and Director of SilverCrest…

Great Panther Silver To Acquire Cangold

GREAT PANTHER SILVER LIMITED and Cangold Limited are pleased to announce that they have entered into a binding letter agreement dated February 25, 2015 pursuant to which Great Panther will, subject to the terms and conditions of the Letter Agreement, acquire all of the issued and outstanding common shares of Cangold by way of a statutory plan of arrangement. This transaction will result in Great Panther adding the option to acquire more than 6,000 hectares of the Guadalupe de los Reyes gold-silver Project in Sinaloa…

Canadian Embassy Ignored Mining Abuses in Mexico: Report

MiningWatch is blaming diplomats at Canada’s embassy in Mexico for overlooking Toronto-based Excellon Resources Inc.’s efforts to avoid redressing a violated land-use contract and repression against a peaceful protest in 2012.

Mexichem Reports 2014 Fourth Quarter and Full Year 2014 Results

Mexichem, S.A.B. de C.V. today announced its unaudited results for the fourth quarter and Full Year ended December 31, 2014. The figures have been prepared in accordance with International Financial Reporting Standards having US dollars as the functional and reporting currency. All comparisons are made against the same period of the prior year, unless specified to the contrary.

Gold Resource Corporation Declares February Monthly Dividend

Gold Resource Corporation declares its monthly instituted dividend of $0.01 per common share for February 2015 payable on March 23, 2015 to shareholders of record as of March 11, 2015. Gold Resource Corporation is a gold and silver producer with operations in Oaxaca, Mexico and exploration in Nevada, USA.

Source Signs Drill Contract and Announces Drilling Program at Las Minas

SOURCE EXPLORATION CORP. announced today the signing of a diamond drilling contract for commencement of its 2015 drill campaign at the Las Minas property, Veracruz State, Mexico. Source has contracted with K.D.L. Mexico S.A de C.V. for a minimum of 2,000 metres of drilling, scheduled to get underway in early March.

Colibri Announces Annual and Special Meeting and Proposed Share Consolidation

Colibri Resource Corporation today announced that, at its Annual and Special Meeting of shareholders to be held on Friday, March 20, 2015, the Company will be seeking shareholder approval for a resolution authorizing the consolidation of its Common Shares on a basis of one post-consolidation Common Share for up to 15 pre-consolidation Common Shares. It will be proposed, that for each 15 Common Shares currently held by a Colibri shareholder….

Acquisition of Prospective Mariana Concessions Vastly Increases San Marco Resources’ Landholding in Northern Mexico

San Marco Resources Inc. has signed an agreement with Argonaut Gold Inc. to acquire 100% ownership of the Mariana property, a 73,902 hectare land package in the vicinity of the Company’s Cuatro de Mayo project in eastern Sonora State, Mexico. As a result, San Marco now owns or has optioned full ownership of approximately 93,000 hectares of highly prospective ground in the Sierra Madre Occidental Gold Belt and is one of the largest exploration landholders in the area.

Radius Gold provides update on proposed Change of Business

Radius Gold Inc. is pleased to provide an update on the status of its previously announced proposed change of business from a Mining Issuer to an Investment Issuer, as described in the Company’s press release of January 7, 2015.

Embajada canadiense respalda represión a mineros y ejidatarios mexicanos

Documentos confidenciales de la embajada canadiense en México muestran el apoyo que le brindó a la empresa minera Excellon Corporation para acabar con la protesta de mineros y ejidatarios de La Sierrita, Durango que demandaban el saneamiento de las aguas contaminadas y el cumplimiento de derechos laborales.

Source Exploration Corp. Announcer Over-Subscription of Non-Brokered Private Placement

Source Exploration Corp. is pleased to announce an update to the previously announced non-brokered private placement of up to 10,000,000 units of the Company consisting of one common share of the Company and one half of one common share purchase warrant at a price of $0.08 per Unit for gross proceeds of up to $800,000. The Private Placement has been oversubscribed and the Company will increase the size of the Private Placement to issue up to a total of 12,725,000 Units at a price of $0.08 per Unit for gross proceeds of $1,018,000. All conditions previously announced will remain the same in the revised offering.

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Major Drilling Group International Inc. is one of the world’s largest drilling services companies primarily serving the mining industry. Established in 1980, Major Drilling has over 1,000 years of combined experience and expertise within its management team alone.

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