Day: January 27, 2016

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.”

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.”