Day: April 18, 2016

Mr. Michael Steinmann, President and CEO of Pan American said, “This transaction represents an attractive opportunity for Pan American to unlock value for a group of its assets that have gone largely unrecognized by the market as a number of them are not in production and are widely dispersed in our company. As the majority shareholder, Pan American will maintain meaningful upside exposure and leverage to these assets, and to Maverix’s ability to grow the portfolio, led by a trusted and experienced management team.”

“This financing will be used to finalize the acquisition and complete the development of the La Fortuna gold project in Durango Mexico,” said Chris Frostad, Chief Executive Officer at Minera Alamos. “Today’s first tranche will allow us to close the acquisition and position us to complete the remaining financing in the coming weeks”.

Brad Langille, CEO of GoGold stated, “We are deeply saddened by this accident and extend our sincere condolences to the family of the deceased. The health and safety of all personnel on site is our highest priority.”

“Primero invested a significant amount of time and resources during the first quarter to create a transformational shift in attitude towards achieving a workplace free of accidents. The safe operation of our two mines is our top priority and while we are encouraged to see a transformation, we know we must remain vigilant,” stated Ernest Mast, President and Chief Executive Officer. “Although production was well below our original expectations during this implementation period, we are committed to getting our operations up to full capacity as quickly as possible. We have a strong operational plan at San Dimas to deliver planned throughput rates with the more stringent ground control conditions for the remainder of 2016. During April, the mine has operated at production rates greater than the nameplate 2,500 tonnes per day. …”

“In Q1 2016, we again saw the upside potential of Platosa’s exceptionally high-grade massive sulphide mantos and began to see further material benefits from our long-term dewatering efforts,” stated Brendan Cahill, President and Chief Executive Officer. “In late February, we accessed the Rodilla Manto, approximately seven months ahead of schedule as we encountered mineralization outside of the Platosa resource block model and dry mining conditions facilitated rapid development. A significant amount of this ‘bonus’ mineralization was ultra high grade, with approximately 1,600 tonnes of ore produced from Rodilla during March grading over 1,000 g/t Ag, 10% Pb and 10% Zn. This ore was blended with lower grade and low-cost stockpiles to improve mill recoveries and concentrate payability. We are currently developing into the next level of the Rodilla Manto and expect the continuing optimization program at Platosa to deliver further operational improvements as the year progresses.”