Day: August 31, 2015

Gold bulls piled into the metal in hopes that the turmoil sweeping financial markets would finally help revive prices. They were wrong. Instead of a rally, futures in New York fell for four straight sessions even as global equities plunged to a two-year low. Rather than providing a refuge from the meltdown, gold’s volatility rose right along with a measure of equity turbulence, diminishing its appeal as a haven. As stocks started to recover, the metal kept falling because of reports that signaled gains for the U.S. economy.

Arian Silver’s Chief Executive Officer, Jim Williams, commented today, “The phased commissioning of the Company’s processing plant has been ongoing during the second quarter of the year.The commissioning process has highlighted the need for remedial work to the tertiary crusher which will result in a delay in completion of commissioning into Q4 this year, and a corresponding delay in mine development. The silver price has continued to fall this year, recently touching a six year low and current market consensus is for continued short-term weakness. Therefore, it has become clear that alterations to the mine plan will be required if profitable production is to be achieved in the current climate…”

“The Company is seeing a very interesting current market opportunity with the potential for equity growth and for yield and distributions, which we believe investors are looking for today. We see the potential to build a focused portfolio of investments in areas that are attracting expansion capital and could see attractive capital appreciation. These areas of focus also highlight the deal flow generation capability and extensive financial market experience of management and our Board of Directors and their respective networks” states Paul Crath, President and CEO.

Primero Mining Corp. announces the resignation of Mr. Rohan Hazelton from its Board of Directors. Mr. Hazelton has served on Primero’s Board of Directors since August 2010, upon the acquisition of the San Dimas mine from Goldcorp Inc.

John Zang, CEO of Morro Bay commented, “the first half of the year saw Morro Bay make significant strides forward. We were able to complete the exercise of the Option Agreement by which Morro Bay became an owner of 51% in the Peñoles Project and with our partner, Riverside Resources Inc., we reported an initial maiden resource estimate for the Jesus Maria Silver and El Capitan Gold zones at the Peñoles Project.”

AuRico Metals Inc. anuncia una financiación privada con Alamos Gold a través de la cual Alamos comprará 8.000.000 acciones de AuRico Metals a un precio de compra de acción de 0,70 dólares canadienses para unos beneficios totales de 5.600.000 dólares. Junto a las 5.767.855 acciones que Alamos ya tiene en AuRico Metals, Alamos ya controla el 10,9% de las acciones emitidas y destacadas de la compañía.

Alamos Gold Inc. today announced the purchase of 8,000,000 common shares of AuRico Metals Inc., representing approximately 6.34% of the outstanding common shares of AuRico. The Shares are being acquired by Alamos by way of private placement at a price of C$0.70 per Share.