Month: May 2016

Calgary, Alberta (FSCwire) – Morro Bay Resources Ltd. announces that Mr. Carl von Einsiedel has resigned from the Board of Directors of Morro Bay, with the resignation taking effect as of May 24, 2016.

Pete Dougherty, President and CEO stated: “We view drilling out the first phase of the projected pit a substantial de-risking of the Magino project. At the same time, we will move forward with permitting at Magino to further de-risk the project.”

Americas Silver Corporation is pleased to announce a supplementary, concurrent private placement of subscription receipts to satisfy the residual demand for the original private placement announced on May 20, 2016. The additional proceeds will address a large component of the initial capital requirements at San Rafael, with the remaining funding subject to advanced discussions with potential lenders and offtakers.

Added Mexus CEO Paul Thompson, “The scale and scope that MarMar brings to this project will allow the mine to be built out much larger and much faster than we had planned. This is a great fit for Mexus and a win for our shareholders. Marco’s knowledge and experience with large mines will prove invaluable as we move forward. Between our geologist, Cesar Lemas, and MarMars’ certified geologist we’ve identified over 1,000,000 tons of mineralized material with an average value of 1.5 gram AU per ton. This material sits at the surface with an initial mining depth of 3 meters and no overburden. We know that this properties value goes much deeper than that. In addition, the certified geologists will begin a drill program that will be the basis of creating an NI 43-101. Our goal is to mirror what Penoles did just 30km south of our property and create a world class mine that will produce gold for years to come.”

Fund manager puts up £7.7mln through a placing to fund further exploration at lithium deposit in Mexico

Azure’s Managing Director, Mr Tony Rovira, said the strong investor support had significantly strengthened the balance sheet. “I am very pleased with the support shown from both existing shareholders and institutions in North America, Europe and Australia. The Alacrán project is one of the most exciting projects I have been involved with and I am looking forward to being able to accelerate both our development and exploration programs,” he said.

Peter Secker, CEO of Bacanora, commented, “We are very pleased to welcome Blackrock, our second major institutional investor, to our shareholder register. In our view, raising £7.7 million (with the potential to increase this to an aggregate of £10 million) at the prevailing share price in current market conditions is testament to the potential of the Sonora Lithium Project to be a major supplier to the lithium market, as highlighted by the recent PFS. BlackRock is not only gaining exposure to Bacanora at an exciting time in its development, but also to the attractive demand / supply dynamics of the global lithium market. Thanks to lithium’s key role in highly innovative industries such as smartphones, electric vehicles and energy storage, supply is expected to struggle to match continued rapid growth in demand for many years to come. We believe Bacanora is well placed to play its part in closing this expected shortfall in supply and I look forward to providing further updates on our progress.”

The net proceeds of the Private Placement will be used by Silver Bull for general working capital purposes. The Company has agreed to pay a finder’s fee on the initial tranche of CDN$5,195 from subscriptions arranged by certain brokers.

Darren Blasutti, President and Chief Executive Officer, commented, “We are very pleased to welcome Eric Sprott and new cornerstone institutional shareholders. With an improved balance sheet and enhanced access to capital, we are now better positioned to continue improving on our cost structure, build San Rafael and deliver on our stated goal of generating value for our shareholders.”