Month: February 2016

“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…”

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.”

Starcore International Mines Ltd. announces production results for the fiscal 2016 second quarter, ending January 31, 2016, at its San Martin Mine in Queretaro, Mexico.

GREAT PANTHER SILVER LIMITED announces a ten-day extension of the due date for the next option payment on its Guadalupe de los Reyes Project in Sinaloa, Mexico. Great Panther holds an option to acquire up to a 100% interest in the GDLR Project from a subsidiary of Vista Gold Corp.

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”.