Month: December 2015

Timmins Gold Receives Short Term Loan Extension

“Debt refinancing arrangements are well advanced and this extension allows the time required to close a transaction,” stated Mark Backens, Interim CEO of Timmins Gold. “We would like to thank our lenders at Sprott and Morgan Stanley for their support and assistance during this process.”

Alta Vista Adds Mcpherson as Senior Advisor

“We are very fortunate to bring on a person of Rob’s calibre to Alta Vista. He will be integral in helping us develop strategies for Alta Vista, to rapidly grow in the medical marijuana marketplace,” stated Ian Foreman, president of Alta Vista, “In addition, we will utilize his extensive experience in the liquor industry to plan for the potential legal recreational market in Canada.”

Torex Announces Its First Gold Pour

Torex Gold Resources Inc. announced today its first gold pour of an estimated 350 ounces, and a similar amount of silver, in Dore, from its 100% owned El Limon-Guajes Mine in southwest Mexico. The entire processing circuit, from crushing through to dry stack tailings disposal, is now operational and has been used in the production of these first ounces.

Santacruz Silver Announces Short-Term Loan with Trafigura

Santacruz Silver Mining Ltd. announces its subsidiary Impulsora Minera Santacruz S.A. de C.V. has entered into a short-term loan facility with Trafigura Mexico, S.A. de C.V. in the principal amount of US$ 725,000. The Loan bears interest at LIBOR plus a spread, payable monthly in arrears, with the principal to be repaid in six equal monthly installments commencing January 31, 2016. The Loan has been secured by certain personal assets of a director and officer of the Company.

Gold Resource Corporation Declares Modified Instituted Monthly Dividend for December

“We remain committed to distributing a monthly dividend and are proud to continue to do so at a reduced level during this extended downturn and bear market in precious metals,” stated Gold Resource Corporation’s President and CEO, Mr. Jason Reid. “Multiple factors contributed to the decision to reduce the dividend including declining revenues and the reallocation of capital focusing not only on our Arista mine, but also on the recently optioned Gold Mesa property in Nevada. Gold Mesa has the potential to increase shareholder value if we are fortunate enough to find additional high-grade gold on the property with near surface open pit potential that could eventually position us as a two mine operator.”

Garibaldi Closes $848,000 Financing, Grants Stock Options

Steve Regoci, Garibaldi President and CEO, commented: “2015 has been a very productive year for Garibaldi on the exploration front, advancing potential high-impact discoveries in both British Columbia and Mexico. We look forward to a vigorous start to 2016.”

Goldcorp’s El Sauzal Mine Achieves Cyanide Code Decertification

“Goldcorp was the first gold-mining company in the world to have each of its wholly-owned mines certified under the ICMC, so it is appropriate that we have become the first to successfully decommission a gold mine under the auspices of the ICMC,” said Chuck Jeannes, Goldcorp President and Chief Executive Officer. “This represents an important step forward in Goldcorp’s commitment to safe, responsible operations throughout the entire life cycle of our projects.”

Defiance Receives Short Term Loan

Defiance Silver Corporation announces it has entered into a short term loan agreement from its largest shareholder in the amount of CDN $160,000. Proceeds from the loan will be for general working capital purposes.

Oceanus Closes $2,600,000 Non-Brokered Private Placement

All securities issued in connection with the private placement, including the finder’s warrants, are subject to a four-month hold period that expires on April 24, 2016. The proceeds from the private placement will be used for exploration at Oceanus’ resource properties in Mexico and for general working capital purposes. The private placement remains subject to final approval of the TSX Venture Exchange.

Great Panther Silver releases drill results for Guadalupe de los Reyes Project

GREAT PANTHER SILVER LIMITED has completed the 2015 surface diamond drill program at its Guadalupe de los Reyes project in Sinaloa, Mexico. The program successfully focused on infilling and expanding higher grade areas within the Guadalupe, Noche Buena,San Miguel and Zapote zones. Results are highlighted by 9.2 metres (6.51 metres true width) assaying 11.28g/t gold and 212g/t silver in hole 15-GDLR-10 ( Noche Buena zone).

Goldgroup Mining Inc. Amends Credipresto Facility

Goldgroup Mining Inc. announces it has entered into an agreement to amend the terms of the outstanding loan facility to Credipresto SAPI de CV SOFOM ENR, subject to TSX approval. Javier Reyes, a director of Goldgroup, is a principal of Credipresto.

MAG Silver Files Preliminary Base Shelf Prospectus

MAG Silver Corp. today announced that it has filed a preliminary short form base shelf prospectus with the securities commissions in each of the provinces of Canada, except Quebec. The base shelf prospectus will allow MAG to offer up to US$75,000,000 of common shares, preferred shares, debt securities, subscription receipts, units and warrants from time to time over a 25-month period after Canadian securities regulatory authorities have issued a receipt for the final short form base shelf prospectus.

Starcore Clarifies Trading Halt

Starcore International Mines Ltd. confirms that it is not aware of any reason as to why trading in its common shares has been halted by the Securities & Exchange Commission. The Company is not a reporting issuer in the United States and is up-to-date on all its regulatory filings in Canada. Having issued this clarification, the Company expects trading to resume on the Toronto Stock Exchange.

Bacanora Announces Director Resignation

BACANORA MINERALS LTD., the Canadian and London listed company that is developing the Sonora Lithium Project in northern Mexico, announces that David Lenigas has resigned from the Board with immediate effect.

Prospero Completes Private Placement

Prospero Silver Corp.: Further to the Company’s news release of December 3, 2015; the Company wishes to report that the non-brokered private placement first announced on October 22, 2015 of 4,000,000 units at a price of $0.075 per Share, for gross proceeds of CDN $300,000 was completed with an aggregate of 3,763,333 shares being subscribed for, with gross proceeds of $282,249.98. Each Unit consists of one common share of Prospero and one non-transferable share purchase warrant exercisable for a term of 5 years. Each Warrant will entitle the holder thereof to purchase one Share at an exercise price of $0.12 per Share.

Golden Minerals Provides Financial And Meeting Updates

* The shutdown at Velardena has progressed on time and below cost projections, due primarily to reduced severance costs as a number of employees have been assigned to work at the oxide plant, which is leased to a third party
* The Company has received an $800,000 tax refund related to activities of ECU Silver Mining, prior to its acquisition by the Company in September 2011
* The Company has received a $500,000 payment under the oxide plant lease earlier than expected, as required permits have been obtained and ore processing has commenced in December

Red Tiger Announces Closing of Private Placement Offering and Resumption of Mining Operations

Red Tiger Mining Inc., is pleased to announce that it has closed on 16,336,664 common shares of its previously announced private placement for approximately CAD$816,833 (or CAD$0.05 per common share).

Additionally, Red Tiger announces that it has resumed mining operations at the Luz del Cobre mine. Mining had previously been suspended in November 2014 due to the presence of clay material, which was stacked on the leach pad.

Inauguran pista de hielo en Fresnillo

El Gobernador del Estado Miguel Alonso Reyes, y el Presidente Municipal, Gilberto Dévora Hernández, encendieron el Árbol de la Unidad Fresnillense frente a la alcaldía, y posterior acudir a la Megaposada en el Monumento a la Bandera ante más de 3 mil personas donde tambein se realizó la inauguración de la Pista de Hielo.

Northair Reports Follow-up Sampling at Nogalera Zone, La Cigarra Project, Mexico

Andrea Zaradic, (President & CEO of Northair) commented, “We are very excited about the recent field results from the mapping and sampling program completed by the Company within the Nogalera area. These results further support the possibility of a mineralized body on the western flank of the La Cigarra resource area (the “West Flank”), which displays similar structural geometry as identified at Las Carolinas. Fieldwork will progress at Nogalera as the Company continues to gather additional information on this important target.”

Evrim Closes Non-brokered Private Placement

Evrim Resources Corp. announces that it has closed the non-brokered private placement announced on November 18, 2015. The Company has issued 12,568,800 units for gross proceeds of $1,508,256. Each Unit consisted of one common share and one non-transferable share purchase warrant. Each Warrant is exercisable into one common share at a price $0.25 until December 16, 2020.

Oroco Settles Sonoran Lawsuit

Oroco Resource Corp. announces that it has received a Dismissal Order with regard to the remaining claims by Sonoran Resources LLC. and SR Servicios Mineros, S.A. de C.V.’s against the Company and Minas de Oroco Resources, S.A. de C.V. The Order, which dismisses the matter with prejudice, was issued as a result of a settlement agreement between all the parties to the matter pursuant to which the Company agreed to pay Sonoran $49,000 in full settlement of all Sonoran claims, which originally were in excess of US$3,000,000. The Company has paid the first half of this amount, with the balance due on January 31, 2016.

Positive Metallurgical Testwork Results From Mesa de Plata

Managing Director, Mr Tony Rovira commented, “Metallurgical recovery was always going to be critical to this deposit and these very favourable results provide us with the confidence to continue progressing the project with further development studies.”

Chesapeake Gold Corp.: Metates Updated Pre-Feasibility Study to Be Released in Early Q1 2016

Chesapeake Gold Corp. wishes to report on the current status of the updated pre-feasibility study on its 100% owned Metates project located in Durango State, Mexico. Chesapeake and M3 Engineering &Technology together with several industry leading international consultants have finished all of the engineering studies and are near completion of all capital and operating cost estimates related to the updated PFS. The Metates project hosts one of the largest undeveloped gold, silver and zinc reserves in the world not controlled by a major gold producer.

Odyssey Marine Exploration Executes $21 Million Deal, Retires all Bank Debt, and Retains a Financial Interest in Future Shipwreck Projects

“This agreement allows Odyssey to immediately monetize shipwreck assets, continue to perform world-class deep-ocean shipwreck search, archaeology and recovery, and to retain upside potential from the assets we’ve created over the past 20 years,” said Mark Gordon, Odyssey’s CEO. “I’ve stated for the past nine months that although we intended to focus corporate capital on the mineral exploration side of the business, we do not intend to abandon our shipwreck roots…”

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