Month: April 2016

Red Tiger Announces Amendment to Loan Agreement

Red Tiger Mining Inc. announces that it has amended its senior secured loan between Minerales Libertad, S.A. de C.V., the Company’s wholly-owned subsidiary, and Gerald Metals S.A.

Semarnat niega autorizar el proyecto minero Don Diego, en Comondú; empresa cae en la Bolsa

“Don Diego se planteaba desarrollar en una zona que es de vital importancia para las tortugas caguamas, y para mamíferos marinos como la ballena gris, ambas especies en riesgo. Se sabe que el tipo de draga que pretendían utilizar, en otras partes del mundo succiona literalmente a las tortugas, y a pesar de que se estaban proponiendo adecuaciones a la draga, no se sabe en realidad qué tan efectivas serán estas medidas al ser implementadas”, declaró Alejandro Olivera, un experto en temas de medio ambiente.

Golden Minerals Issues No Corporate Development Statement

GOLDEN, Colo., April 11, 2016 /PRNewswire/ — Golden Minerals Company (NYSE MKT: AUMN; TSX: AUM) (“Golden Minerals” or “the Company”), at the request of IIROC Market Surveillance and on behalf of the Toronto Stock Exchange, wishes to issue a statement that the Company is not aware of any undisclosed material development that would cause today’s upward movement in the Company’s share price.

Mexus readies materials and equipment for heap leach pad

Mexus CEO Paul Thompson closed, “We will continue to update our shareholders as pertinent information becomes available. The company is aggressively moving forward with our plan to heap leach and hard rock mine. We are extremely excited and optimistic about this phase of Mexus’ growth and look forward to releasing additional information in the coming weeks.”

Odyssey Marine Exploration Responds to Decision on “Don Diego” Project

“While the denial was obviously a very disappointing outcome, after an extensive review of SEMARNAT’s decision, we are impressed by the thorough process which included over 16,000 pages of submissions from our team with more than 2,700 subsections and responses to more than 90 specific questions posed by SEMARNAT scientists and technicians,” commented Mark Gordon, Odyssey president and chief executive officer. “We are pleased that taking into consideration the large number of potential environmental impacts that were evaluated, the denial was focused only on a single issue, the potential impact of dredging operations on sea turtles, which we believe was based on misinformation.

Avino Announces Q1 2016 Production Results

“With a steady first quarter behind us, 2016 is shaping up to be a solid year for Avino. Our operations team delivered another quarter of consistent production and development at the San Gonzalo and Avino Mines respectively, putting us in a strong position to achieve our goals for the year. In 2016 our objectives are to continue to focus on efficient operations including improving recovery rates, meeting production targets, controlling costs and transitioning the Avino Mine from the development phase to underground mining. Underground Mining commenced on April 1 on upper level 11.5 using the long-hole sub-level caving method, which is a cost effective method of extraction,” David Wolfin, President, CEO & Director, Avino Silver & Gold Mines Ltd.

Marlin Gold Mining Announces Rights Offering

Marlin Gold Mining Ltd. announces that it will be offering rights to holders of its common shares at the close of business on the record date of April 18, 2016, on the basis of one right for each common share held. Each Right will entitle the holder to subscribe for 0.3752 Common Shares of Marlin upon payment of the subscription price of $0.30 per Common Share. The Rights Offering will be conducted in Canada only.

Southern Silver Closes Non-Brokered Financing; Prepares for Commencement of Drilling

Southern Silver Exploration Corp. announces that it has closed its previously reported non-brokered private placement by issuing 12,000,000 Units at a price of $0.05 per unit for gross proceeds of $600,000. Each unit consisted of one common share and one share purchase warrant exercisable to purchase one additional common share for a period of five years at an exercise price of $0.08 per share.

Cyprium Mining Corporation announces closing the first tranche of unit financing

Cyprium Mining Corporation, a Canadian-based mining company with operations located in the state of Chihuahua, Mexico, is pleased to announce that, subject to TSX Venture Exchange Inc. approval, it has closed the first tranche of its previously announced private placement of up to 8,000,000 units at a price of CDN $0.065 per Unit for gross proceeds of up to CDN$520,000. Under this first tranche, Cyprium issued 5,890,000 Units for gross proceeds of CDN$382,850. 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 CDN$0.10 expiring two years from the date of issuance.

GoGold Production Increase of 45% Over Previous Quarter

GoGold Resources Inc. reports that the Company produced 335,183 silver equivalent ounces for the second quarter ended March 31, 2016 which represents a 45 percent increase over the previous quarter. The Company sold 348,861 silver equivalent ounces during the quarter which was an increase of almost 60 percent over the previous quarter. The Parral project continues to be a low cost operation with costs averaging $6.78 per silver equivalent ounce and $2.73 per silver ounce using gold as a bi-product credit.

Argonaut Gold Further Strengthens Board and Management Team

Chairman of the Board, Mr. Jim Kofman, commented: “The Company is very excited to have Ms. Walsh and Mr. Atkinson join its Board of Directors. Their wealth of experience will be a tremendous asset to all Argonaut stakeholders as we continue our goal of transforming the Company into a mid-tier producer. On behalf of the entire Board, I want to thank Dave Watkins for his contributions to Prodigy Gold and to Argonaut Gold. His insights have helped the Company in advancing the Magino project which is an exciting part of the Company’s future.”

Eric Sprott Announces Acquisition of Securities of Excellon Resources Inc.

Eric Sprott announced today that he acquired ownership and control of 6,666,667 units of Excellon Resources Inc. at a price of $0.45 per Unit, with each Unit being comprised of one common share of the Corporation and one-half of one Share purchase warrant. Each Warrant entitles the holder thereof to acquire one additional Share at a price of $0.65 per Warrant Share for a period of 24 months from the date of issuance of the Warrant. The Units represent approximately 15.4% of the currently issued and outstanding Shares on a partially diluted basis.

Southern Silver Announces Corporate Update

Southern Silver Exploration Corp. reported that at its annual general meeting held on March 30, 2016 the following directors were re-elected: Lawrence Page, Q.C., D. Roger Scammell, Eugene Spiering, Nigel Bunting, Larry Buchanan and Peter Cheesbrough. The following officers were re-appointed subsequent to the annual general meeting: Lawrence Page, Q.C. as President, Graham Thatcher as Chief Financial Officer and Arie Page as Corporate Secretary.

Excellon Closes $3,000,000 Investment by Eric Sprott

The proceeds from the Financing will be used in the ongoing implementation of the previously announced Optimization Plan at the Platosa Mine and for general corporate purposes. Phase II of the Optimization Plan is expected to commence in early April with the drilling of primary dewatering wells.

Capstone Mining 2016 First Quarter Production Results

“Copper production for the quarter comfortably met our guidance,” said Darren Pylot, President and CEO of Capstone. “At Pinto Valley, mill reliability and throughput continued the positive momentum from the fourth quarter of 2015, once again exceeding expectations, with quarterly throughput averaging 55,000 tonnes per day.Minto posted very strong production led by better than expected recoveries, partially offsetting a production shortfall at Cozamin.”

Torex Announces a Temporary Suspension of Activities at its El Limon-Guajes Mine Due to an Illegal Blockade

Fred Stanford, President & CEO of Torex stated: “It is truly unfortunate that a selfish few put their wants above the need of so many that worked so hard to make this project a success. The majority of the community has not supported these families and community representatives have lodged legal complaints against their activities. If the Company were to submit to this sort of extortion then we would be vulnerable to similar threats throughout what we expect could be a very long life operation on the Morelos Property. Rather than establish such a precedent, we prefer to suspend operations until the authorities take the next step in providing a law and order environment in which we can operate. The authorities have been actively involved in resolving the situation and we hope that their efforts are successful soon. It would be a shame if the actions of a selfish few were allowed to destroy the potential for so many to improve the opportunities for themselves and their families.”

Eco Environmento to assist Mexus at its Santa Elena property

Mexus Gold US today announced that Ecomine Environmento has signed on to assist Mexus in bringing its Santa Elena property into production. Ecomine will handle the environmental and mining permits as well as the land management issues. CEO of Ecomine, Rolando Buenos Alduenda added “We bring qualified experts in all areas of mining including acquisition of diverse licenses, project management and environmental management. We are excited to partner with Mexus on this project.”

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