Month: April 2016

Goldcorp announces voting results from Annual Shareholders Meeting

“On behalf of the Board of Directors, I would like to extend my sincere gratitude to Doug, Chuck and John for their many years of service and wish them the very best going forward,” said Ian Telfer, Chairman of Goldcorp. “As a director and chair of the Audit Committee, Bev has brought diverse financial, accounting and business experience to the board and I look forward to continuing to work with her as she assumes the additional responsibilities of Vice-Chair and Lead Director.”

Agnico Eagle Announces Election of Directors

Agnico Eagle Mines Limited today announced that, at the annual and special meeting of shareholders held earlier today, each of the twelve nominees listed in the management information circular dated March 11, 2016 were elected as directors of Agnico Eagle.

Southern Silver Announces Equity Financing for Oro Gold Project Drill Program, New Mexico

Net proceeds from the private placement will be used to fund costs associated with a three phase exploration program on the Oro property in New Mexico and specifically the sediment-hosted near surface Stock Pond gold target. A USD$300,000 exploration program on the project will include initial phases of prospecting and trenching followed by drilling planned for the fall of 2016.

Argonaut Gold Announces $30 Million Revolving Credit Facility, Updated Preliminary Economic Assessment and Permitting Advancement at San Agustin

Argonaut Gold Inc. is pleased to announce that it has entered into a $30 million revolving credit facility. Additionally, the Company is pleased to highlight results of an updated Preliminary Economic Assessment for its 100% owned San Agustin gold project in Durango, Mexico prepared by Kappes, Cassiday & Associates, Resource Modeling Inc. and Argonaut Gold’s management team. In accordance with National Instrument 43-101, a Technical Report will be filed within 45 days. The Company also announces it has received approval on the San Agustin Environmental Impact Study from the Mexican Environmental Authority (SEMARNAT). All dollar amounts are in United States dollars unless otherwise stated.

Golden Minerals Reports First Quarter 2016 Results

Revenue of (US)$1.5 million in the first quarter 2016 compared to $2.3 million in the first quarter 2015
Loss from operations of $2.3 million compared to a loss of $5.0 million in the first quarter 2015
Net loss of $6.3 million in the first quarter 2016, including $3.9 million of noncash expenses related to the Company’s warrants and convertible loan, compared to a net loss of $3.4 million in the first quarter 2015 that included $0.7 million in noncash income related to the Company’s warrants
Cash and equivalents balance of $2.1 million as of March 31, 2016

Azure Minerals Ltd: Quarterly Activities Report

Azure’s Managing Director, Mr Tony Rovira commented: “We have made excellent progress during the last quarter, in particular the completion of the Mesa de Plata resource drill out. The Mineral Resource is in the final stage of estimation and is expected to be released shortly. Azure has rapidly progressed Mesa de Plata from first discovery in September 2015 and we are confident that the resource estimate will demonstrate the significance of the Project.

Gainey Provides Corporate Update on AGM Results

Gainey’s renowned geologists: Larry Segerstrom, Director and QP of Gainey, and Rafael Gallardo, Senior Geologist of Minera Cascabel S.A. de C.V., have signed-off on 21 priority drill targets totaling 5,800 meters, which could be divided into various tranches. These targets are within mineralized zones at El Colomo, which include:

SilverCrest Announces Additional High Grade Underground Results At Las Chispas; Commencement of Surface Drilling Program

N. Eric Fier, CPG, P.Eng, President & CEO stated, “We continue to systematically complete our planned underground rehabilitation program at Las Chispas to evaluate areas of known high grade silver-gold mineralization. To date, we have accessed two kilometres of the estimated six kilometres of underground workings. Our first detailed underground channel sampling, as reported below, indicates continuous high grade areas that are easily accessible for potential future mining. In late March, we also commenced a surface drilling program to test extensions of known mineralized veins for potential new discoveries. For the next three months, we will be focusing on continually accessing historical underground workings to assess further high grade continuous mineralization.”

Arian Silver – Placing to Raise £700,000

Arian Silver Corporation is pleased to announce that it has raised £700,000, before expenses, through the placing of 70 million units of 1p each through its broker Beaufort Securities Limited.

Mexichem Reports 2016 First Quarter Results

“Before we begin discussing our first quarter 2016 results and our outlook for the year, I would like to first extend Mexichem’s deepest condolences and sympathies to all of the people affected by the recent accident at the joint venture PMV plant in Coatzacoalcos. Our thoughts and prayers are with the victims, their families and the community. We also want to express our deep gratitude and admiration to the first responders who took care of the injured and executed the evacuation plan, to the local, state and federal governmental authorities who protected and secured the infrastructure and the population and to the neighboring companies and community members who rushed to the site to assist us. Mexichem is humbled by this outpouring of support and the individual acts of bravery and kindness that we witnessed first-hand. We continue to support the victims of this tragedy and are working closely in tandem with our partners PEMEX, the authorities and a team of international experts to determine the cause of the accident.

Cyprium Mining Corporation announces closing of private placement and other corporate transactions

Cyprium Mining Corporation is pleased to announce that it has completed a second closing of its previously announced private placement of up to 8,000,000 units at a price of $0.065 per Unit for gross proceeds of up to $520,000. In this closing, Cyprium issued 2,300,000 Units for gross proceeds of $149,500. Each Unit is comprised of one common share in the capital of the Corporation and one share purchase warrant of the Corporation. Each Warrant will be exercisable into one Common Share at an exercise price of $0.10 expiring two years from the date of issuance.

Goldcorp Reports First Quarter 2016 Results

“We delivered a solid first quarter of production at low all-in sustaining costs,” said David Garofalo, President and CEO. “Éléonore and Cerro Negro continued their ramp-up with underground mine development advancing well at both assets. With a focus on NAV per share accretion, we plan to drive further productivity improvements at current operations and to leverage our existing mining camps by advancing low capital intensity, high rate of return internal growth opportunities.”

Coeur Reports First Quarter 2016 Results

“I am pleased with our strong cost performance in the first quarter, which is tracking at the low-end of cost guidance set at the beginning of the year,” said Mitchell J. Krebs, Coeur’s President and Chief Executive Officer. “These sustained lower operating costs, combined with the positive momentum we have seen in silver and gold prices so far this year, have led to a 16% increase in adjusted EBITDA1 to $34.6 million.

Telson Resources Inc. Closes Non-Brokered Private Placement

Telson Resources Inc. is pleased to announce that it has closed its non-brokered private placement originally announced on March 1, 2016, consisting of 12,367,333 units of the Company at a price of $0.12 per unit for gross proceeds of $1,484,080. Each unit is comprised of one common share and one half of one whole transferable share purchase warrant. Each whole share purchase warrant entitles the holder thereof to purchase one additional common share of the Company at $0.12 within twenty-four months from closing. All securities issued under the non-brokered private placement are subject to a hold period expiring four months and one day after the closing date. Total issued and outstanding shares in the Company after completion of the private placement is 92,885,578.

Capstone Mining First Quarter 2016 Financial Results

“In the first quarter of 2016 our operating cash flow was $32.2 million. Our cash balance increased $20 million to $121.1 million, reducing our net debt to $228.2 million and our senior secured leverage ratio to 2.1 at quarter end, down from 2.6 at the end of 2015,” said Darren Pylot, President and CEO of Capstone. “Our continued focus on mine site cost efficiencies and optimization were demonstrated in the first quarter with Pinto Valley posting the second straight quarter of new daily, monthly and quarterly throughput records and exceeding targeted throughput for the quarter.”

Pan American Invests in Kootenay Silver to Maintain 10% Ownership

Kootenay President and CEO James McDonald stated: “We are delighted with Pan American’s vote of confidence in not only our Promontorio Mineral Belt assets, but also the La Cigarra opportunity we have acquired through the business combination with Northair Silver Inc. After the closing of the Second Tranche Investment, we will have a strong cash position to advance the La Cigarra project and pursue more potential consolidation and growth opportunities that will be accretive to the Kootenay shareholders.”

Mexus begins work on its open heap leach pad with all permits in hand

Mexus Gold US announced today that the environmental and mining permits are complete and work has begun on the area that will become Mexus’ open pit heap leach mine. An area 300 meters by 100 meters is being cleared and leveled for the pad. Mexus intends to open pit the shear zone where the Julio high grade quartz vein faulted to the west as identified by Director of Operations Cesar Lemas. The shear zone and the Julio quartz vein will be mined simultaneously with strict grade control. The shear zone ore has graded 1 to 5 grams per ton with the Julio assays running much higher and includes visible gold. Mexus believes that mining the Julio quartz vein from the surface along with the shear zone makes the most sense. The shear zone material will be crushed to ¾” minus then placed on the leach pad. The Julio high grade will go straight to Mexus’ crusher ball mill gravity recovery plant. The tailings from the gravity recovery plant will also be placed on the heap.

Biricu Project Update

As previously disclosed on November 4 and December 4, 2015, Minaurum loaned Guerrero Ventures Inc. funds to explore Biricu. Guerrero has informed Minaurum that the required exploration expenditures and obligations of the underlying Biricu option agreement between Alamos Gold Inc. and Guerrero have been fulfilled. Results from the exploration work are pending.

Corex Gold Announces Shares for Debt Settlement

Corex Gold Corp. announces subject to TSX Venture Exchange approval, has agreed to settle an aggregate amount of $176,400 owed to related and non-related parties to be settled by the issuance of approximately 2,205,000 common shares at a deemed issue price of $0.08 per share.

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