Month: October 2015

McEwen Mining Inc. is pleased to announce record total production for the third quarter, and the first nine months of 2015, of 43,390 and 115,988 gold equivalent ounces respectively. The star performer during the quarter was the El Gallo Mine.

“We have continued to reduce our all-in cash costs both year-over-year and throughout the current year despite a dramatic fall in base metal prices,” said Darren Blasutti, President and CEO of Americas Silver Corporation. “The Galena hoist was not remedied until mid-September, however we were still able to increase tonnage and reduce both cash costs and all-in sustaining costs through disciplined operations and reduced spending. In addition, we are achieving our 2015 strategic objectives to lower operating costs and improve productivity at both of our operations, while ramping up silver-lead production at the Galena Complex.”

“As a single mine operator, we see the effect of a tough month drastically impacting a quarter’s production totals, as we sustained in the month of August,” stated Mr. Jason Reid, Gold Resource Corporation’s President and CEO. “A multi-mine company has some latitude to adjust several operations to smooth out the tough months. Based on fourth quarter performance so far, we are optimistic we will end the year within targeted parameters for the fourth quarter, but unfortunately we do not anticipate that the current quarter can make up for production shortfalls sustained in the second and third quarters and have therefore lowered our annual production Outlook, primarily as related to our targeted silver production….”

Pursuant to the non-brokered unit private placement announced on October 4, 2012, a total of 3,430,000 share purchase warrants expiring on October 25, 2014 and 500,000 share purchase warrants expiring on October 30, 2014, were issued on October 25, 2012 and October 30, 2012 respectively. On October 10, 2014, expiration of both sets of warrants was extended by an additional 12 months, to October 26 and 30, 2015 respectively.

Industrias Penoles, S.A.B. de C.V., in order to clarify the information published yesterday in various media communications concerning investment of $ 11.730 billion pesos in the municipalities of Torreón and General Cepeda, in the state of Coahuila, informs the investing public:

Industrias Peñoles, S.A.B. de C.V., con el fin de aclarar la información publicada el día de ayer en diversos medios de comunicación relativa a la inversión de $11,730 millones de pesos en los municipios de Torreón y General Cepeda, en el Estado de Coahuila, informa al público inversionista:

“The third quarter saw improved production with better grades and an improved cost profile,” stated Brendan Cahill, President and Chief Executive Officer. “We are aiming for the lower end of our production targets for the year due to the delay in the implementation of the optimization plan for Platosa. The optimization plan continues to be the Company’s top priority, with our technical teams currently working to improve the project’s efficacy and cost. We expect to provide an update on the optimization plan shortly.”

The proceeds from the Private Placement are expected to be used by the Company for the purchase of new underground mining equipment, general working capital and corporate purposes. All shares issued will be subject to a four month hold period.

“We are taking significant steps to meet the challenge of low commodity prices,” said Don Lindsay, President and CEO. “We have reduced costs throughout the company and we’ve raised nearly $1 billion in two streaming transactions. We used a portion of those proceeds to reduce debt by $400 million and our current cash balance of $1.8 billion exceeds our remaining $1.5 billion share of capital required for Fort Hills.”

The net proceeds from the Offering will be used by Prospero for exploration expenditures on its Petate project in Mexico and for general working capital purposes. All securities issued in connection with the Offering will be subject to a hold period expiring four months and one day following the closing of the Offering.