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).

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Maza Drilling is a Mexican company established in 2007 in Mazatlán, Sinaloa. Our Canadian founder, Mr. Guy de Launiere, has over 20 years of international experience managing diverse drilling operations. Maza Drilling strives to compete at the highest levels in terms of recovery, effectiveness, efficiency, and affordability at every project while keeping at the forefront of technology to meet our customer’s needs in this demanding market.