Month: July 2015

Golden Minerals Announces CEO Retirement

Golden Minerals Company announced that Jeffrey G. Clevenger, the Company’s Chief Executive Officer, will retire effective September 1, 2015. Mr. Clevenger, who has served as Chairman and Chief Executive Officer since the Company’s inception in 2009, will continue to serve as Chairman of the Board of Directors.

Morro Bay Closes First Tranche of Financing

Morro Bay Resources Ltd. is pleased to announce it has closed the first tranche of the non-brokered private placement announced July 29, 2015. The First Tranche consisted of the issuance of a total of 2,000,000 Units at a price of $0.05 per unit for gross proceeds of $100,000. The Private Placement remains open for further subscriptions.

Torex Announces Second Quarter 2015 Results

Fred Stanford, President and CEO of Torex said: “With construction currently 80% completed, and with mining ahead of schedule with over one million tonnes of ore in stock pile, we are well on track for our first gold pour by the end of this year. Engineering and procurement are effectively completed and a workforce of over 3000 is rapidly turning that engineering and material into a productive asset. The processing buildings have been erected and the major pieces of equipment have been placed within the buildings…”

Yamana Gold Declares Third Quarter Dividend

YAMANA GOLD INC. declared a third quarter 2015 dividend of $0.015 per share. Shareholders of record at the close of business on September 30, 2015 will be entitled to receive payment of this dividend on October 14, 2015. The dividend is an “eligible dividend” for Canadian tax purposes.

Southern Silver Reports on Corporate Matters

Southern Silver Exploration Corp. reports that at the Company’s extraordinary general meeting held on July 29, 2015 shareholders voted to approve an earn-in agreement with an insider shareholder. Voting by disinterested shareholders was unanimous in favour of the resolution which was required on the basis that the shareholder has the right to acquire a 60% interest in the Company’s Cerro Las Minitas mineral property as detailed below and such shareholder approval was required to comply with TSX-V policy.

Norvista Announces Executive Appointments

Norvista Capital Corporation announces the following appointments to its management team and Board of Directors. Mr. Gerald P. McCarvill, after leading Norvista and its predecessor company since 2008, has tendered his resignation as Chairman and Chief Executive Officer of the Company. Mr. Stan Spavold, currently a director and Chair of the Audit Committee of Norvista, has been appointed as Chairman of the Board and Mr. Donald H. Christie, currently President and Chief Operating Officer of Norvista, has been appointed as President and Chief Executive Officer of the Company.

Goldcorp Achieves Record Quarterly Gold Production; Updates 2015 Cost Guidance

“Goldcorp’s excellent second quarter results underscore the growing strength and quality of our mine portfolio,” said Chuck Jeannes, Goldcorp President and Chief Executive Officer. “Higher gold grades at Peñasquito and a continued strong ramp-up at Cerro Negro drove record quarterly gold production and more than offset the slower-than-planned ramp-up at Éléonore. In addition, a continued focus on cost efficiency and productivity enhancements along with favorable currency effects continued to push costs lower…”

Timmins Gold Reports 2015 Second Quarter Results

Bruce Bragagnolo, CEO of the Company, stated “We reached a record stacking rate for the quarter of 24,754 tonnes per day. The increase in throughput has helped to offset the decrease in grade from the prior year. Gold recoveries are projected to be faster in Q3 2015 as we move from the top of the current pads to new pads. Construction of new leach pads is complete and the Company is now stacking ore on the new pads. This will result in faster recoveries in H2.

Drilling Under Way at Alacrán

Azure’s Managing Director, Tony Rovira, stated: “In the six months we have been involved with Alacrán, great progress has been made in advancing the project. Our exploration has focused on areas of historical mining but where no modern exploration has been undertaken, and we’ve identified numerous high quality targets.”

Morro Bay Announces Proceeding with a Private Placement

Morro Bay Resources Ltd. announces that it is arranging a non-brokered private placement for a minimum of 1,000,000 and a maximum of 40,000,000 units. Each unit will be comprised of one common share of the Company and one common share purchase warrant.

Agnico Eagle Reports Second Quarter 2015 Results; Strong Operational Performance Continues; Vault Extension and Goldex Deep 1 Approved for Production; Amaruq Drilling Infills and Expands Scope of Mineralization

“With continued strong operating performance, favourable local currency foreign exchange rates, and near-term opportunities to increase production at several of our mines, we remain well-positioned to manage the current price volatility in the gold market”, said Sean Boyd , Agnico Eagle’s Chief Executive Officer. “In these challenging times, we will continue to focus on reducing costs and we will remain measured in our approach to managing and growing our business”, added Mr. Boyd.

First Mining Hires Derek Iwanaka as Vice President of Investor Relations

Keith Neumeyer, Chairman of First Mining stated, “We welcome Derek as a new member of our management team. His experience, contacts, and knowledge with leading investor relations initiatives in the mining sector will be important as we continue to build our team and grow shareholder value through mineral asset acquisitions.”

New Gold Announces Second Quarter Results; Rainy River Construction on Schedule and on Budget

“The second quarter further solidified our company’s strong start to the year,” stated Randall Oliphant, Executive Chairman. “Our gold production year-to-date has been consistent with our plans. After investing in the mill expansion and waste stripping at our open pit operations in the first six months of 2015, we are now positioned to benefit from higher gold production coupled with lower costs in the second half of the year. At the same time, we further increased our financial flexibility by $175 million with the recently announced Rainy River streaming transaction. We look forward to the acceleration of construction activity at Rainy River through the remainder of this year and into 2016.”

Capstone Mining Second Quarter 2015 Financial Results

“In the second quarter of 2015 we continued our focus on flexibility and execution,” said Darren Pylot, President and CEO of Capstone. “We maintained our financial flexibility by entering into zero-cost collars for 36,000 tonnes of copper production at a minimum price of US$2.60 per pound to the end of Q3 2015 to ensure we can execute our 2015 capital program in this difficult copper price environment.”

Primero Reports a Fatal Accident at its San Dimas Mine

“We are deeply troubled by the loss of Juan Jesús Torres Jiménez, a young underground miner at our San Dimasmine,” said Joseph F. Conway, Chief Executive Officer. “Our thoughts and prayers go with his family and friends through this incredibly difficult time.”

Defiance Commences Drilling at San Acacio Silver Deposit

Defiance Silver Corp is pleased to announce the start of a 1,500m drill program on the San Acacio silver deposit in the historic Zacatecas Silver District in Mexico. The drill program is focused on expanding the current resource of 17.9 million oz AgEq contained in 2.902 mt grading 192.5 g/t AgEq. Drilling will build upon the recent discovery of significant silver and base metal mineralization below the limits of the current resource. The focus continues to be on the lowest risk/highest reward portion of the exploration potential at San Acacio by drilling along the 1.0 kilometer of old workings. Mineralization is open both to depth and along strike.

Ned Goodman Rejoins Excellon Board of Directors

“We are delighted to welcome Ned back on the Board,” stated Brendan Cahill, President and Chief Executive Officer. “His experience as an industry leader and company builder is invaluable. He returns to the Board at a vital time, as we upgrade Platosa into one of the lowest cost silver mines in the industry and position the Company to take full advantage of the opportunities afforded by current market conditions.”

Sierra Metals Appoints Gordon Babcock P. Eng. as Chief Operating Officer Enhancing its Current Management Team

Mr. Babcock is a second generation Professional Mining Engineer with over 34 years of experience in mine production management, project development, engineering, exploration and mine consulting in precious, base metals and aggregate operations in the Americas. He was most recently COO at Jaguar Mining and has previously worked for Nyrstar, Breakwater Resources, Coeur Mining Inc., Milpo, The Hochschild group in Peru, Muscocho Explorations, and The Noranda Group. Gordon holds a degree in Mining Engineering from Queen’s University and is an active member of the Association of Professional Engineers of Ontario, CIM and AIME.

Cyprium Mining to Acquire Controlling Joint Venture Interest in the Historic Potosi Silver Mine in Mexico

Cyprium Mining Corporation is pleased to announce that it has entered into a letter of intent with Minerales Nacionales de Mexico SA de CV, Minera Potosi Silver S de RL de CV and Daniel Valenzuela, pursuant to which Cyprium and the Potosi Partners have agreed to form a twenty year joint venture for the exploitation and exploration of the Potosi silver mine located in the historic silver rich mining district of Santa Eulalia in Mexico.

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