Month: October 2015

Marlin Gold Mining Ltd. Completes Sale of Non-Core El Compas Gold-Silver Mining Project to Canarc Resource Corp. and Acquires Securities of Canarc Resource Corp.

Marlin Gold Mining Ltd. announces that it has today completed the sale of all of the shares of Oro Silver Resources Ltd. to Canarc Resource Corp. pursuant to a share purchase agreement entered into with Canarc on October 8, 2015. Oro Silver indirectly holds the El Compas Gold-Silver Mining Project in Zacatecas, Mexico.

Aurcana Corporation Announces Commencement of CBCA Proceedings to Implement Restructuring Transaction

Aurcana Corporation announces that it is today commencing proceedings under the Canada Business Corporations Act to implement the restructuring transaction announced by the Company on October 16, 2015 under which all of the Company’s debt obligations to Orion Mine Finance (Master) Fund I L.P., as lender under the Company’s amended and restated senior secured credit facility dated April 29, 2014, will be extinguished.

Orex Grants Stock Options and Applies to Extend Warrants

Orex Minerals Inc. announces that it has granted 250,000 incentive stock options to a consultant to purchase 250,000 shares in the capital of Orex at an exercise price of $0.20 per share and with a two year term. The options will vest immediately.

Golden Minerals Provides Update

Golden Minerals Company announces in the first half of November 2015, Golden Minerals will suspend mining and processing activities at the Velardena mine and sulfide mill due to continued low precious metals prices and lower than planned mill feed grades at the sulfide plant.

Yamana Gold Declares Fourth Quarter Dividend

YAMANA GOLD INC. declares a fourth quarter 2015 dividend of $0.015 per share. Shareholders of record at the close of business on December 31, 2015 will be entitled to receive payment of this dividend on January 14, 2016. The dividend is an “eligible dividend” for Canadian tax purposes.

Vista Gold Corp. Announces Third Quarter 2015 Results

Frederick H. Earnest, President and Chief Executive Officer, commented, “We have worked hard to ensure the Company remains funded without diluting our shareholders, and I am enthusiastic about our success and the opportunities it affords us. With our improved balance sheet we believe we are able to fund our currently planned activities into 2018, and we still have opportunities to access additional financing from non-dilutive sources such as the sale of our used mill equipment and the monetization of our other non-core assets. ..”

Arian Silver – Trading to Resume on TSX-V

Arian Silver Corporation advises that in accordance with the respective rules of the Toronto Venture Stock Exchange and AIM, trading on TSXV will resume approximately 30 minutes after the time of this announcement; the trading suspension on AIM remains in effect pending a further announcement regarding the Company’s financial position.

Canarc Appoints New Board Member

Canarc Resource Corp. is pleased to announce that Mr. Akiba Leisman has accepted an invitation to join the board of directors of Canarc, effective on the closing of the Oro Silver Resources Ltd. acquisition agreement signed Oct 8, 2015.

Goldcorp Delivers Strong Free Cash Flow as Third Quarter Gold Production Increases 42%

GOLDCORP INC. today reported record third quarter gold production of 922,200 ounces, an increase of 42% compared to gold production of 651,700 ounces in the third quarter of 2014. Adjusted quarterly revenues were $1.3 billion. Adjusted operating cash flow was $374 million, compared to $399 million for the third quarter of 2014. Free cash flow was $243 million, compared to negative free cash flow of $355 million for the third quarter of 2014.

Southern Silver Substantially Extends Mineralization Throughout the Cerro Las Minitas Project

Significant results include:
– the identification of high-grade Ag-Pb-Zn polymetallic mineralization in a 300m offset from the historic Santo Niño mine in hole 15CLM-023A with an 8.5m down hole interval (5.7m est. TT) averaging 143g/t Ag, 1.2%Pb and 6.2% Zn (437g/t AgEq).
– a new high-grade oxide discovery outboard of the Blind – El Sol mineralization on the west side of the central intrusion in hole 15CLM-081; and
– gold-enriched intercepts from drilling on the eastern side of the intrusion in hole 15CLM-079 and 15CLM-080.

Marlin Gold Mining Repays Sprott Resource Lending Partnership

Marlin Gold Mining Ltd. is pleased to announce that it has repaid the final $5 million of principal due to the Sprott Resource Lending Partnership. This was the only secured debt and only third-party debt held by the Company. Marlin has entered into an amended and restated loan agreement providing the Company with a US$5.5 million increase to its existing unsecured facility from entities controlled by Wexford Capital LP, Marlin’s controlling shareholder. The aggregate principle of the Facility is now US$25 million. The maturity date of the Facility is January 15, 2017 and will accrue interest daily at a rate of 15% per annum.

Starcore Reports Year End 2015 Results

“This has been a trying year for the industry; however, we have continued to perform at the mine reporting net income overall and operating cash flow for the year while also making significant corporate acquisitions that have expanded our base of exploration properties and furthered our resources,” reported Robert Eadie, President of the Company.

Arian Silver – Temporary Suspension and Trading Halt

Arian Silver Corporation, a silver mining company focused on silver projects in the silver belt of Zacatecas, Mexico, announces that further to its announcement on 22 September 2015 of the signing of a letter of intent and non-binding term sheet with Quintana AGQ Holding Co. LLC, discussions with Quintana and its affiliates are on-going, but that notice has been received from Quintana to terminate the letter of intent in accordance with its terms.

Drilling Permit Granted for Mesa de Plata

Key Points:

• New RC drilling program to start at Mesa de Plata within days
• Environmental approval granted for close-spaced 65 hole program
• Drill program will be appropriate for mineral resource estimation
• Access track construction and drill site preparation is underway
• Diamond core drilling at Mesa de Plata is nearing completion

Peñoles Carta del Director al III Informe Trimestral 2015

RESUMEN EJECUTIVO En el 3T/15 los precios de los metales que Peñoles produce y vende fueron en promedio, significativamente inferiores a los registrados en el 3T/14 (en términos de dólares): oro (-12.3%), plata (-24.7%), plomo (-21.5%), zinc (-20.2%) y cobre(-24.9%). El efecto adverso de los menores precios en los ingresos de la Compañía fue mitigado por mayores volúmenes vendidos de todos los metales, así como por mayor tipo de cambio del peso frente al dólar americano (que se depreció un 25.1% en promedio) lo que benefició las ventas expresadas en términos de pesos. En las operaciones mineras, la producción de oro fue superior debido a los mayores volúmenes recuperados en Herradura, el mayor mineral depositado en Noche Buena y mayor volumen procesado en Saucito…

Cyprium Mining closes acquisition of controlling joint venture interest in historic Potosi silver mine and private placement financing

Cyprium Mining Corporation is pleased to announce that it has closed the acquisition of a 53% controlling interest in a joint venture which owns: (i) the exclusive exploitation and exploration rights of the Potosi silver mine located in the historic silver rich mining district of Santa Eulalia in Mexico; (ii) the exclusive rights of possession, usage and operations to the San Guillermo processing facility which is located seven kilometers from the Potosi silver mine; as well as (iii) all of the exclusive exploration and exploitation rights to a property adjacent to the south of the Potosi silver mine known as La Chinche. Cyprium’s partners in the Joint Venture are entities controlled by members of Mr. Daniel Valenzuela’s immediate family. Mr. Valenzuela is a third generation miner located in Chihuahua, Mexico whose family has owned the Joint Venture Assets for over sixty years.

New Gold’s Third Quarter Delivers 31% Increase in Gold Production at Lower Costs

“New Gold moved from strength to strength during the third quarter,” stated Randall Oliphant, Executive Chairman. “Our gold production increased significantly, our costs decreased and we further strengthened our balance sheet. When including the cash proceeds from the El Morro transaction and the remaining stream deposit from Royal Gold, our company has total pro forma liquidity of over $750 million which exceeds the remaining development capital estimate at Rainy River. In addition, with quarterly all-in sustaining costs below $800 per ounce we continued to generate a robust margin. We now look forward to finishing the year with another strong operational quarter and further advancing the construction of Rainy River.”

Agnico Eagle Reports Record Third Quarter 2015 Gold Production; Strong Operating Performance Leads to Increased Production Guidance and Reduced Costs for 2015

“In the third quarter of 2015, we set a new record for quarterly gold production and lowered unit costs which resulted in strong operating cash flow. This has allowed us to continue to invest in our exploration and development pipeline, which represents the long-term future of our business,” said Sean Boyd, Agnico Eagle’s Chief Executive Officer. “Our increased level of exploration activity continues to pay dividends as witnessed by the new discoveries at Kittila, Amaruq and El Barqueno. These projects are expected to be significant contributors to our production profile in the coming years,” added Mr. Boyd.

Solitario Announces Stock Repurchase Program and Provides 2015 Review and Outlook for 2016

Chris Herald, President and CEO, stated, “We want to remain flexible in our approach – we will focus on gold, silver and zinc, but will not rule out other metals or corporate opportunities. Our targeted geographic range will be the safe jurisdictions in the Americas, but with an emphasis in Peru, Mexico, Canada and the U.S. We plan to focus on relatively early-stage exploration projects that have some drilling and potentially a defined resource, but we will also look at select greenfield projects and/or advanced exploration projects where our feasibility and permitting experience may be beneficial. We will continue to evaluate royalty opportunities on advanced projects, but we believe current royalty acquisition costs in the industry are generally fully valued and do not offer the opportunity for multiple returns on investment.”

Endeavour Silver Announces Revised Date for Release of Third Quarter, 2015 Financial Results; Provides Emergency Supplies to Small Towns Near San Sebastian del Oeste, Jalisco, Mexico to Assist in Recovery From Hurricane Patricia

In cooperation with the Municipality of San Sebastián del Oeste in Jalisco State, Mexico, Endeavour is providing emergency supplies to four towns in the region of the Company’s Terronera property. The region was hit hard by Hurricane Patricia and some local residents were stranded without communications after the collapse of a bridge on their only access road. Fortunately no damage was sustained within the town of San Sebastián del Oeste or at the Terronera property. Endeavour’s Vice President of Exploration Luis Castro is working with municipal representatives to ensure the emergency aid addresses the immediate needs of the approximately 80 families affected.

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