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…

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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