Torex Gold Resources Inc. is pleased to announce that it achieved the 2/3rds completion milestone in the construction of its flagship El Limon-Guajes Project at its 100% owned Morelos Gold Property in Mexico. The Company also announced that a draw of $50 million on its debt facility was received at the end of May.
Levon Resources Ltd. is pleased to announce that Levon’s shareholders and option holders have voted today at the special meeting of Security holders to approve the previously announced plan of arrangement involving SciVac Ltd., Levon and 1027949 B.C. Ltd. The Arrangement was approved by 97.64% of the votes cast by Shareholders and 98.06% of the votes cast by Security holders, voting together as a single class, at the Meeting.
Azures Managing Director, Tony Rovira, stated: While the IP and soil sampling surveys are in progress at La Morita and San Simon, weve continued our exploration activities across the wider Alacrán property. Results continue to exceed our expectations, with several new areas returning strong precious and base metal mineralisation which we are following up.
Oceanus Resources Corporation is pleased to announce that it has undertaken a non-brokered private placement financing to raise a minimum of $1,000,000 and a maximum of $1,500,000 by the sale of units of the Company at a price of $0.20 per unit.
Goldgroup Mining Inc. today announces that it has agreed to amend the payment terms for theUS$1,000,000 balance of principal remaining owing from the US$1,500,000 promissory note issued by the Company to Oroco Resource Corp. pursuant to terms of the Cerro Prieto property sale. Goldgroup has issued the Oroco two promissory notes in replacement of the Note. The first note, in the principal amount of US$250,000, is payable on demand. The second, in the principal amount ofUS$750,000, is payable on or before September 15, 2015. Both new promissory notes bear 8% annual interest, payable monthly in arrears.
We are very pleased with this preliminary economic assessment, as it demonstrates the exceptionally high returns of the optimization project proposed for Platosa, with a modest capital investment, stated Brendan Cahill, President and Chief Executive Officer. Platosa has been Mexicos highest grade silver producer for over a decade and we now see the clear opportunity to resume being one of the lowest cost producers in the silver industry…
Certain minority shareholders, writing on behalf of investors who collectively own approximately 5.5% of common shares (based on the diluted shares outstanding prior to a proposed private placement), sent a letter to the Board of Directors of Aura Minerals Inc. detailing their disapproval of capital allocation, management entrenchment and the inability or unwillingness to take actions necessary to maximize the per share value of Aura’s equity.
“The first quarter financials reflect the status of the Rosario Mine being shut-down during the quarter. During this first quarter, we took the opportunity to complete a major overhaul and refurbishment of key mill circuits. In addition, we restructured our underground mine contract in order to achieve improved mining costs and efficiencies, with fewer personnel. Further, the Company implemented and permitted an alternative solution for tailings disposal, secured the damaged discharge pipe, and upgraded the factor of safety at the tailings embankment. That being said we have subsequently resumed operations at Rosario in the second quarter.” said Arturo Préstamo, President and CEO…
Marlin Gold Mining Ltd. is pleased to announce a proposed non-brokered private placement of common shares. Pursuant to the Equity Offering, Marlin expects to issue up to 23,214,286 common shares at a price of $0.56 per Common Share for aggregate gross proceeds of up to approximately $13,000,000.
Red Tiger Mining Inc., today reported its financial and operating results for the three months ended March 31, 2015 . This press release should be read in conjunction with the Company’s unaudited Financial Statements for the three months ended March 31, 2015 and Management’s Discussion and Analysis for the corresponding period, available on the Company’s website atwww.redtigermining.com and on SEDAR at www.sedar.com.
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