Day: April 21, 2016

Chinese miners eager to snap up gold assets abroad

Chinese gold miners plan to extend the biggest buying spree in four years, as the nation seeks greater clout in the global bullion industry. The prospect may be helping to drive up the price of gold assets in other countries.

Defiance Pushes San Acacio Payments to 2018

“The San Acacio project vendor has been willing to renegotiate the purchase agreement on multiple occasions in the past, providing Defiance with the flexibility to prosper throughout this difficult market and to maximize the allocation of its treasury toward the advancement of the project instead of property payments. Defiance plans to use this additional financial flexibility in 2016 to explore and expand the existing resource at the San Acacio Silver Project”, stated Bruce Winfield President and CEO.

Great Panther Announces At-The-Market Offering Of Up To US$10 Million

GREAT PANTHER SILVER LIMITED announces that it has entered into an At-the-Market Offering Agreement dated April 20, 2016 with Rodman & Renshaw, a unit of H.C. Wainwright & Co., LLC. Under the ATM Agreement, the Company will be entitled, at its discretion and from time-to-time during the term of the ATM Agreement, to sell, through Rodman, as placement agent, such number of common shares of the Company having an aggregate gross sales price of up to US$10.0 million. Sales of the Common Shares will be made through “at the market distributions”, as defined in National Instrument 44-102, directly on the NYSE MKT LLC or on any other existing trading market in the United States. No offers or sales of Common Shares will be made in Canada on the Toronto Stock Exchange or other trading markets in Canada. The Common Shares will be distributed at market prices or prices related to prevailing market prices from time to time. As a result, prices of the Common Shares sold under the Offering will vary as between purchasers and during the period of distribution.

Sierra Metals Reports First Quarter 2016 Production Results

“We anticipate improved consolidated results in the current year as we continue to focus on the restructuring and rehabilitation at the Yauricocha Mine with the implementation of best practices and the introduction of modern methodologies.” commented Mark Brennan, President and CEO of Sierra Metals. “We have already begun to see the impact of these changes with increased throughput and improved silver/copper equivalent production over the previous quarter. Management continues to be optimistic that these changes that have resulted in lower production beginning in the third quarter of 2015 will serve to increase production in the coming years.”

Corex Receives Mining Permit for Santana Project

The United States of Mexico’s Secretary of the Environment and Natural Resources granted Corex’s 100% owned Mexican subsidiary, Corex Global S. de RL de C.V., a mining permit for an open-pit, heap leach gold operation and pilot plant. This permit allows sufficient material to be mined for testing, optimizing and proving operating methods and costs. In addition, it will provide for the continuity of operations while the planning and permitting for full-scale production is being completed. Corex has acquired all land, mineral and water rights for such an operation. Corex is also anticipating receipt of the Change of Land Use from Federal Attorney of Environmental Protection Agency which is the final step in the permitting process.

Kootenay Silver completes business combination with Northair Silver

Kootenay Silver Inc.and Northair Silver Corp. are pleased to announce that they have completed the previously announced business combination by which Kootenay has acquired 100% of the issued and outstanding shares of Northair by way of a court approved plan of arrangement.

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