Month: February 2016

Riverside Resources Inc.: Change of Director

John-Mark Staude, President and CEO, stated: “Willie Lee has made a superb contribution to Riverside as a director and we are sorry that for personal reasons he has decided to step down from all board positions. We wish him and his family well and express our deep appreciation for the commitment he has displayed while striving for quality in the auditing and accounting of public companies such as Riverside.”

Yamana Gold Announces Fourth Quarter and Full Year 2015 Results

For 2016, the Company expects to deliver gold production of between 1.23 million and 1.31 million ounces of gold. Silver production is projected at between 6.9 million and 7.2 million ounces of silver and copper production is projected at between 122 million and 125 million pounds. These numbers exclude any share of production from the Company’s interest in Alumbrera. The Company has increased confidence in 2016 production guidance as a result of the achievements of 2015, which include: streamlined operations and management; improved core management in exploration, development, operations and health and safety; improved resource models and mine plans; and improved timing relating to the evaluation and development of projects and development at existing mines.

Garibaldi Prepares To Drill Rambo Gold Target New Mineral Horizons Outlined At Silver Eagle

Steve Regoci, President and CEO, commented: “After 15 initial shallow drill holes and follow-up field work, it’s apparent that Silver Eagle has a potential strike length in excess of 2 km and hosts multiple lenses with average grades of 600 g/t Ag and widths of 1-5 meters. Discovery hole SE-14-01 returned 2,010 g/t Ag over a true width of 5.6 meters.

Pan American Silver announces its unaudited fourth quarter and full year 2015 financial results

Michael Steinmann, President and Chief Executive Officer of the Company commented on the fourth quarter 2015 and full-year 2015 performance results, “2015 was one of the strongest production years in Pan American’s history with record silver and gold production, a 15% decrease of our cash costs and a 17% decrease in AISCSOS from 2014. In spite of deteriorating metal prices, our record setting production helped us to continue to generate strong operating cash flows of$88.7 million, or $0.58 per share, which was more than sufficient to cover our annual sustaining capital of $73.7 million. Our efforts did not fully counteract the effects of lower metal prices on our earnings, as net realizable value adjustments, low prices, foreign exchange losses, and impairments pushed us into a net loss position for the year.”

Primero Reports Fourth Quarter and Full-Year 2015 Results;Record Revenues Drive Increased Cash Flows

“Primero’s strong focus on reducing costs, while continuing to invest in profitable operations is evident in our 2015 results,” stated Ernest Mast, President and Chief Executive Officer. “We achieved industry low all-in sustaining costs of $680 per ounce at our platform San Dimas mine while significantly reducing the all-in sustaining costs at the Black Fox mine by 19% from 2014, to $1,163 per ounce. We were also successful at reducing our corporate G&A expense with the closure of two satellite offices. Though Primero has had a volatile start to 2016 in the equity markets, our mines in Mexico and Canada continue to operate uninterrupted with anticipated further efficiency gains anticipated in 2016. We are aggressively defending the claim initiated by the Mexican tax authority seeking to nullify the APA…”

Orex Completes 17 Holes in Phase-I and will Proceed to Phase-II Drilling on the Sandra Escobar Project in Durango, Mexico

Orex Minerals Inc. is pleased to announce that the initial 2,000 metres diamond drilling in 17 holes have been completed on the Sandra Escobar Project in Durango, Mexico. The diamond drilling program will be extended a further 3,000 metres in Phase-II, commencing in the first week of March. The Sandra Escobar Project is being advanced by Orex under an option agreement with Canasil Resources Inc.

Pan American Silver Reports Updated Silver Mineral Reserves and Resources

Commenting on last year’s exploration results, Christopher Emerson, Vice President Business Development and Geology, said, “In 2015, even with tough market conditions, Pan American still made important investments in exploration, spending $10.9 million to complete 105,000 metres of diamond drilling around our operations. This investment in drilling and related exploration activities helped us to add 22.5 million ounces of new silver mineral reserves. However, our additions from exploration were not sufficient to fully offset the 33.5 million ounces of contained silver that were depleted from our mineral reserves through mining and 8.9 million ounce of silver re-categorized from reserves to resources due to lower assumed metal prices.”

Aura Silver Enters Into Binding Letter Agreement To Increase Interest In Taviche Gold/Silver Project To 100%, Eliminates Royalty With Acquisition

Bob Boaz, CEO, states “we are pleased to consolidate a 100% ownership interest in the Taviche Project and to extinguish the joint venture royalty clause with Intrepid with the completion of this acquisition. With the ownership simplified to one party, the Company hopes to attract additional interest in the project from other potential mining parties. We remain excited about the potential for expansion and discovery of new gold and silver resources at the Taviche project, particularly with the discovery of promising new drill targets which were determined by recent reanalysis and consolidation of all the Company’s exploration data.”

Drilling Permit Approved for Loma Bonita

The first stage of this drilling campaign will be focused on testing the high priority Loma Bonita prospect, where extensive, highly significant gold and silver grades have been identified by surface sampling (ASX: 16 & 21 October 2015). This mineralisation is hosted in residual quartz (both vuggy and strongly silicified) similar to that which hosts the silver mineralisation at Mesa de Plata. The drill rig has been mobilised to site and drilling of the first hole has commenced.

Alianza Minerals Sells Mexican Properties

Jason Weber, President and CEO of Alianza stated, “With the sale of our Mexican properties to Almadex, a company with great experience in exploring in Mexico, Alianza streamlines costs while remaining focussed on our early stage and generative projects in Peru, Yukon, and Nevada.”

Altos Hornos de México, S.A.B. de C.V. Comienza el Envío por Correo de Declaración Informativa para la Asamblea de Acreedores Reconocidos el 18 de Abril de 2016

AHMSA declaró que: “Asegurar la aprobación del Plan es uno de los pasos finales importantes necesarios para levantar la suspensión de pagos con la que AHMSA ha estado operando. El levantamiento exitoso colocará a AHMSA en posición para mejorar su potencial a largo plazo, lo que le brindará a la empresa la capacidad para tener más flexibilidad financiera, para maximizar la racionalización de su estructura de capital y competir y crecer con más eficiencia. El levantamiento también le permitirá a AHMSA mejorar aún más su propuesta de valor a largo plazo, al establecer una plataforma financieramente sólida desde la cual la empresa pueda ejercer sus iniciativas operativas y sus prioridades estratégicas”.

Capstone Mining 2015 Financial Results

“Despite very challenging market conditions for base metal companies in 2015, we posted positive cash flow before changes in working capital of $60 million,” said Darren Pylot, President and CEO of Capstone. “We took a number of steps through the year to reduce costs and improve reliability at our operations, with fourth quarter throughput at Pinto Valley of 54,000 tonnes per day surpassing our expectations and positioning the mine well for the next planned expansion. In addition, we made several strategic decisions throughout 2015 to preserve our financial flexibility, including protecting our revenue through price fixing and zero-cost copper collars, as well as suspending work on our Santo Domingo project until market conditions improve.”

Great Panther Resumes Full Operations at its Guanajuato Mine Complex After Conclusion of Assessment of Explosives Theft

GREAT PANTHER SILVER LIMITED announces that it has received official notice allowing the Company to resume the use of explosives at its Guanajuato Mine Complex. The Mexican regulatory authority responsible for permitting and regulating the use of explosives has now formally concluded its review of the previously announced theft of explosives from one of the mines at the GMC, and the Company has resumed full production at the mines.

Southern Silver Announces Equity Financing

Southern Silver Exploration Corp. plans to issue up to 12,000,000 units in a non-brokered private placement at a price of $0.05 per Unit to raise $600,000. Each Unit will consist of one common share and one share purchase warrant, with each warrant exercisable to purchase one additional common share for a period of five years at an exercise price of $0.08 per share.

Minera Alamos Inc. Announces Brokered Private Placement

Minera Alamos Inc. announced today that it has engaged IBK Capital Corp. to conduct a brokered private placement of up to 30,000,000 units at $0.10 per Unit for gross proceeds of up to $3,000,000. Each Unit consists of one common share in the capital of the Company and one half of common share purchase warrant. Each whole warrant entitles its holder to purchase one common share in the capital of the Company at an exercise price of $0.15 per share for a period of 3 years from the date of issuance. The Offering may be closed in one or more tranches and is subject to requisite approval from the TSX Venture Exchange.

Hecla Reports Record Silver Reserves for the 10th Consecutive Year of 175 Million Ounces and Gold Reserves of 2.1 Million Ounces

“Our mines continue to demonstrate their position amongst the highest quality silver mines in the world, adding silver reserves for the 10th consecutive year using one of the lowest price assumptions in the industry and after replacing the 11.6 million ounces of silver production,” said Phillips S. Baker, Jr., Hecla’s President and CEO. “The strength of our mineral resources, particularly at Greens Creek, and the historically high conversion rate at all the mines, give us confidence that we can continue to add reserves in the coming years.”

Kootenay Announces Option with Pan American Silver – Includes US$16 Million in Work and Cash Payments, CDN$2.0 Million Equity Investment and a Carried to Production Interest

Kootenay President and CEO James McDonald stated: “We are very excited to join forces to aggressively develop our Promontorio Mineral Belt assets with Pan American, one of the world’s esteemed mining companies and operators of seven silver mines in Mexico, Argentina, Peru and Bolivia. Bringing approximately US$16 million in cash payments and exploration investments and a carried interest to commercial production, along with a CDN$2 million direct investment in Kootenay, the PAS Transactions underscore Pan American’s confidence in the potential viability of La Negra and the Promontorio Mineral Belt. The PAS Transactions serve as catalyst and a strong complement to our new consolidation plan with Northair Silver, providing the amalgamation with greater financial strength and flexibility to focus on the advancement of the La Cigarra silver asset and to pursue further potential consolidation and growth opportunities in the sector.”

Great Panther Reports Fatality At Guanajuato Mine Complex

GREAT PANTHER SILVER LIMITED regrets to report the fatality of a contract scoop tram operator that occurred at its Guanajuato Mine Complex in Mexico on Friday evening. The employee’s family and all relevant authorities have been contacted and a full investigation into the cause of the accident is ongoing.


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