Month: March 2016

Gainey Provides Update on Exploration and Mineral-Processing Activities in Mexico

Gainey Capital Corp. is pleased to provide an update regarding important progress on the Company’s exploration activities at its highly acclaimed, 192-km2 El Colomo property located in the Sierra Madre Occidental Trend in Western Mexico and mineral-processing at its fully operational, 300-tpd processing centre located in Huajicori, Mexico. Gainey has maintained a low monthly burn rate over the past 24-months while gold prices have dropped as low as USD$1050/oz. this year. Gainey continues to be a strong exploration and mineral-processing company and has continued to find significant opportunity during the difficult precious metals market over the past several years.

Starcore Reports Q2 2016 Results

“This quarter we were able to announce two significant milestones; we entered into an agreement to sell our San Pedrito Property, expecting to net the Company approximately US$7million; and we poured our first doré bar from the newly commissioned Altiplano Concentrate Processing Plant located in Matehuala, Mexico. Along with our continued production and positive cash flow from our San Martin mine in Queretaro, we are expanding our profitable footprint in Mexico in accordance with our long term goals.” reported Robert Eadie, President of the Company.

Primero Reports 2015 Year-End Mineral Reserves and Resources;Increases Total Mineral Resources and Announces Additional Exploration Results From the Black Fox Froome Zone

“Our investment in exploration continues to pay off,” stated Ernest Mast, President and Chief Executive Officer. “We have successfully grown our total Mineral Resources through the addition of new mineralized areas, such as the Froome Zone at Black Fox. We have taken measures to improve our modelling methodologies to maximize future free cash flow generation and provide more certainty to our mine plans. Looking to the future, we have a very positive outlook with expected exploration results from the Froome Zone and other Froome-like targets at Black Fox, and from areas located outside the Silver Purchase Agreement at San Dimas such as the Ventanas property and Lechuguilla concession.”

Argonaut Gold Announces Revenue of $158.6M and $42.7M in Cash Flow from Operations Before Changes in Non-Cash Operating Working Capital for the Full Year 2015

Pete Dougherty, President and CEO of Argonaut Gold stated, “I am proud of what the team has accomplished. We had a record year of production as a Company. We met our production guidance for the year, even with lower grades than planned at El Castillo. At La Colorada, throughput and production exceeded expectations. We were able to increase cash on the balance sheet in the second half of the year and were only slightly down year-over-year, even after the $20 million final payment to complete the purchase of the San Agustin project. We expect to make a construction decision on this project in the latter part of 2016. We were able to negotiate key contracts and streamline the business to allow us to plan for fully loaded costs (including operating, capital, taxes and corporate administrative costs) to be less than $1,000 per ounce for 2016. This gives us tremendous leverage to a rise in gold price..”

IMPACT Silver Announces Fourth Quarter and Year ended December 31, 2015 Financial and Production Results

Fred Davidson, President and CEO, stated, “Our production performance during the fourth quarter 2015 continues to demonstrate IMPACT Silver’s success and viability as a proven explorer and producer as it continues to manage its costs and mining grades. With a decade of production history, this quarter we continue to generate some of the highest grades in the Company’s history at 190 g/t silver. Despite lower silver prices persisting in 2015, our focus on profitability and higher grade zones of silver especially at San Ramon and Mirasol resulted in revenue per tonne of $91.68 compared to $68.75 in the comparative quarter for 2014. IMPACT is currently free from long-term debt and our operations are primarily funded by production cash flow. However, if the price of silver remains at current low levels, the Company may consider opportunities to improve its balance sheet and fund future developments through financing and/or acquisition or merger.”

Marlin Gold Mining Announces Commencement of New Mining Fleet and Countdown to High Grade HS Zone

Akiba Leisman, Chairman and CEO of Marlin, states that “this is an important milestone in the Company’s history. We have been mining at La Trinidad for over two years, with the removal of over 21 million tonnes of material in order to get to the point we are now. In less than 80 days we will be at the high grade HS Zone, with grades more than three times what we have been mining to date. The countdown to the HS Zone has begun, as we look to make Marlin one of the lowest cost gold miners in the Americas.”

Bearing Terminates Proposed Reorganization

As also announced on May 5, 2015, the Company still intends to dispose of all of its current mineral assets to Commander Resources Ltd. Completion of the Commander Transaction remains subject to regulatory approval. The Company is also continuing to evaluate other opportunities and intends to provide an update to its shareholders in the near future.

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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.