Month: January 2016

Alset Energy Appoints Gennen McDowall as Chairman of the Board

Alset Energy Corp. is pleased to announce that, subject to regulatory approval, it has appointed Gennen McDowall as a director and Chairman of the Board of Directors for the Company. Throughout his career, Mr. McDowall has held senior positions at major mining companies and has been a director of several public mining companies. His experience and network of contacts in the mining and financial sector will be a valuable addition as he helps guide Alset’s Board of Directors.

Endeavour Silver Provides Production and Cost Guidance for 2016; Conference Call at 10:00am PST Today

Bradford Cooke, Endeavour CEO, commented, “Our Guanaceví and Bolañitos mines continue to be profitable at current metal prices but the El Cubo mine continues to lose money in spite of our successful efforts to expand the operation and reduce cash operating and all-in sustaining costs three years in a row. Therefore, we plan to mine the accessible reserves this year at El Cubo and have suspended investments on exploration and mine development there until metal prices improve. That means El Cubo will see a steady decline of production through the year until it goes on care and maintenance in the fourth quarter.

Arian Silver Corp. – Placing and Directors’ Dealings

Jim Williams, Chief Executive Officer of Arian commented: “I am once again excited to be taking Arian forwards in what could be described as a new chapter. Our cash outflows have reduced significantly in recent months as head office costs have been streamlined, most notably through internal reorganisation and reduction in salaries paid, we have to date generated monthly savings of US$0.1 million. Looking at 2016, we will have a stronger balance sheet, firstly through the elimination of debt financing, and secondly with the injection of cash from this financing. The market is ripening with opportunities, which we are positioning ourselves to seize.”

IMPACT Silver celebrates 10 year Anniversary of Continuous Production at the Royal Mines of Zacualpan Silver District and reports Record Silver Production in 2015

Fred Davidson, President and CEO of IMPACT Silver, stated “Ten years of continuous production at Zacualpan is a great milestone. I congratulate all our employees and contractors, past and present, on this proud achievement. From our modest beginnings in 2006, the IMPACT team has built up the operations year by year and as a crowning achievement saw record production in 2015 of nearly one million ounces of silver. Currently we are in a tough metals market but the Zacualpan operations have weathered downturns in the past and we will continue our efforts to weather this downturn through the exceptional skills and dedication of our team to keep costs low, and we are blessed with high grade silver zones in the ground on our 100% owned land package. We will continue to focus on growth opportunities and generation of value for our shareholders in the coming next decades.”

Exploration Work Defines Gold Zone and Drilling Targets at The Tajitos Gold Project, Sonora, Mexico

Riverside Resources Inc. is pleased to announce that exploration work continues with partner Centerra Gold Inc. at the Company’s Tajitos Gold Project in Sonora, Mexico. The initial exploration program funded by Centerra Gold over the past two months included extensive continuous rock chip channel sampling and stream sediment sampling. Drill targets are being defined with further work now underway and up to 4,500 metres in drilling expected to follow.

Gold Resource Corporation Intercepts Additional Multiple High-Grade Parallel Veins at Switchback Including 6.32 Meters of 5.87 G/T Gold

Gold Resource Corporation today announced new Switchback drill highlights from its El Aguila Project’s Arista Mine including 6.32 meters of 5.87 grams per tonne (g/t) gold, 139 g/t silver, 0.58% copper, 5.00% lead and 8.14% zinc. Gold Resource Corporation is a gold and silver producer with operations in Oaxaca, Mexico and exploration in Nevada, USA. The Company has returned over $108 million to shareholders in monthly dividends since commercial production commenced July 1, 2010, and offers shareholders the option to convert their cash dividends into physical gold and silver and take delivery.

Minera Alamos Inc.: Issues Resource Estimate for Los Verdes North Deposit and Updated Work Plan

“The mineralization at the North Deposit is very similar in metal content to that of the South Deposit. Mineralization extends surprisingly close to surface and also exhibits the same potential for high grade “starter pit” mining opportunities as are currently being evaluated for the Company’s South Deposit”, said Darren Koningen, President, Minera Alamos Inc. “The deposit may offer a superior initial route to mining operations at the Los Verdes project, potentially eliminating months of waste pre-stripping along with the associated capital costs”.

Primero Increases Production by 15% and Lowers AISC by 20% in 2015; Expects Additional Cost Reductions in 2016

“We completed 2015 with production momentum, low costs, and financial strength from our two mines in stable Americas-only jurisdictions,” saidJoseph F. Conway, Chief Executive Officer. “Although 2015 was a volatile year in the markets we remained focused on delivering our operating plan. We advanced the San Dimas expansion while cutting its estimated capital costs significantly and delivered excellent exploration results across our asset portfolio. We are also well prepared to execute on the planned succession of Ernest Mast to the position of President and Chief Executive Officer and myself to Executive Vice Chairman later this month.”

Major Drilling Group International Inc. is one of the world’s largest drilling services companies primarily serving the mining industry. Established in 1980, Major Drilling has over 1,000 years of combined experience and expertise within its management team alone.

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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.