Month: August 2015

“Second quarter 2015 production was weaker than expected due to challenges including water inflow management, slower than expected mine development and an illegal mine protest and work stoppage,” stated Gold Resource Corporation’s CEO and President, Mr. Jason Reid. “Halfway through the 2015 production year, the Company has produced 15,135 ounces of gold and 1,370,625 ounces of silver, delivering approximately 96% of expected gold production and 92% of expected silver production of the Company’s lower range 2015 annual Outlook…”

The net proceeds of the private placement are expected to be used to advance work on Companys projects and for general working capital purposes. Finders’ fees consisting of cash and warrants may be payable on a portion of the private placement financing. Insiders of the Company will participate in the private placement financing.

“Primero has delivered strong operating results in the second quarter,” stated Joseph F. Conway, Chief Executive Officer. “Our platform San Dimas mine delivered near-record production levels and continues to exceed expectations. The mine delivered close to 3,000 tonnes per day well ahead of schedule and the mill exceeded its nameplate capacity, with an impressive 2,816 tonnes per day average throughput during the quarter…”

“The Credit Facility enhances our already strong balance sheet and provides flexibility to execute on our growth strategy,” said Paul Benson, President and CEO. “The added financial capacity is underpinned by the strength of our operations and maintains our attractive share capital structure for shareholder value.”

“In the second quarter we achieved the strongest financial performance in two years despite the weakest realized silver and gold prices over this time frame,” said Mitchell J. Krebs, Coeur’s President and Chief Executive Officer. “With nearly every mine outperforming initial cost and production targets, we are raising our production guidance and lowering our cost guidance for 2015. The notable exception is San Bartolomé, where July production was impacted by political disruptions in Bolivia, but is now fully operational.

Southern Copper Corporation, a subsidiary of Grupo Mexico, bought the mine called El Pilar, located in Sonora, for $100 million.

Southern Copper Corporation, filial de Grupo México, compró por 100 millones de dólares la mina llamada El Pilar, ubicada en Sonora.

“We are pleased to have Lake Shore as a significant shareholder in IDM, and are grateful for a positive settlement of future liabilities related to legacy properties in Mexico,” said Michael McPhie, Executive Chairman of IDM Mining. “Lake Shore’s track record in operating a successful gold mine through challenging markets will benefit IDM as we advance the Red Mountain Gold Project through advanced engineering and the permitting process.”

La minera de plata y oro Fresnillo Plc dijo que recortaría su gasto planeado de capital para el 2015 a 570 millones de dólares, afectada por la volatilidad de los precios de los metales.

Octavio Alvídrez, Chief Executive Officer of Fresnillo plc, said: “We have had a solid first half operationally, with silver and gold production up 11% and 37% respectively. Saucito drove the increase in silver production, with the ramp up of Saucito II achieved well ahead of the three year timeframe initially anticipated. The increase in gold production was driven by Herradura and its dynamic leaching plant being fully operational throughout the period. We continue to advance development rates at Fresnillo, which should result in increased production by the year end, and we remain on track to reach steady state production at Herradura in the fourth quarter. I am confident that we are well-placed to meet our 2015 production guidance of 45-47 million ounces of silver (including the Silverstream) and our increased 2015 gold production guidance of 715-730 thousand ounces.”