Month: July 2016

Golden Tag Completes $900,000 Financing, Inks Definitive San Diego Purchase Agreement

Of the proceeds raised, $500,000 will be used to purchase the remaining 50% interest in the San Diego silver project announced April 12, 2016 and the remaining funds will be used for general working capital. Effective today the formal agreements to purchase the remaining 50% interest in the San Diego silver project in Mexico were agreed, signed in part and are expected to be notarized and registered next week.

Starcore Reports Year End 2016 Results

“Despite some production issues in the past few months, we have consistently maintained a positive cash flow. This has allowed us to explore for and find additional higher grade zones at the mine, as we recently reported, as well as to commence an aggressive drill program on our Toiyabe project located in Nevada. With the ramp up of our Altiplano processing facility, we are fully active in exploration, mining and industrial milling of concentrates, covering all facets of mining activity.” reported Robert Eadie, President of the Company.

Goldcorp puts Los Filos mine in Mexico on block, eyes other sales

“Los Filos, Marlin and Alumbrera are smaller scale mines. They don’t have the economies of scale that our existing five camps offer us” or that a newly acquired gold project, Coffee, “potentially offers us once it’s built out,” Garofalo said.

Yamana Gold Announces Sale of its Mercedes Mine in Mexico

YAMANA GOLD INC. iis pleased to announce that it has entered into a definitive Share Purchase Agreement to sell 100% of its interest in the Mercedes mine in Sonora, Mexico to Premier Gold Mines Limited. Pursuant to the Agreement, Yamana will receive consideration in the form of cash and equity securities, the value of which was $140 million at the time of negotiations.

Azure Minerals – Quarterly Activities Report

Azure’s Managing Director, Mr Tony Rovira commented: “I am delighted with the progress we have made at the Alacrán and Promontorio Projects over the last quarter. Delivering the maiden resource at Mesa de Plata was a particular highlight, which allows us to progress toward assessing our various development strategies, and the results from our active drilling programs continue to demonstrate the huge potential of both projects.

Argonaut Gold Receives Favourable Ruling in Federal Lawsuit Relating to San Antonio Permit

Pete Dougherty, President & CEO stated: “We are pleased with the outcome of the ruling, which confirms our belief that the local zoning plan should not have impeded the permitting of the San Antonio project. This ruling does not mean that our permits are granted but does provide the basis of understanding for all involved in the permitting process. We will continue to engage and work closely with all stakeholders to advance the San Antonio project. We believe that San Antonio provides an opportunity for a model mine with the use of clean technologies that also provides near and long-term benefits to the region.”

Goldcorp Reports Second Quarter 2016 Results; Expansions Approved at Peñasquito and Musselwhite

“While lower production was expected in the second quarter, the decision to accelerate a significant organizational restructuring had a short-term, negative impact on gold production. With the decentralization of our business well underway and new mine management installed at the majority of our operations to reflect the new business model,Goldcorp is poised to deliver better gold production and cost performance,” said David Garofalo, Goldcorp President and CEO. “We continued to advance our robust project pipeline with the decision to proceed to construction with high rate of return expansions at our Peñasquito and Musselwhite mines.”

Agnico Eagle Reports Second Quarter 2016 Operating and Financial Results; Operations Continue to Deliver Strong Performance; Positive Guidance Revision; Further Reduction in Net Debt; And Dividend Increased by 25%

“The second quarter saw continued strong operating results from all of our mines coupled with record safety performance”, said Sean Boyd, Agnico Eagle’s Chief Executive Officer. “Given these strong results and a more robust gold price environment, we have significantly improved our financial position, while continuing to make important investments in several of our growth projects. In addition, we have raised our dividend signaling our confidence in our business and growth plan”, added Mr. Boyd.

Oretest is a mining exploration drilling contractor based in Mazatlán, Sinaloa, México. The company is managed by Bart Forsyth, with 36 years of extensive drilling experience on most continents with major companies. The company takes great pride in providing high-quality services while making safety a priority. Maintenance, cleanliness, precision and proper drilling habits makes a good safety environment and produces results.

• Fast. PhotoSat solutions are ideal for large, inaccessible, or remote sites. With no permits needed, we can efficiently produce engineering-grade surveys and alteration mineral maps over hundreds or even thousands of square kilometers. No site access is required, and all data processing is completed without involvement from ground crews.
• Global. Satellites are not restricted by borders, permits, or ground logistics. We have completed more than 1,300 projects in over 75 countries, with exacting standards of accuracy and consistency.
• Reliable. Each PhotoSat project is produced from satellite photos, with each photo covering hundreds of square kilometers. As a result, our data sets are consistent, time-stamped and robust, with high data point density.
• Innovative. PhotoSat is a leader in satellite-based surveying technology and alteration mineral mapping. We use proprietary deep learning algorithms in our data processing. Our unique technology produces outstanding results that are trusted by mining companies and engineering consultants around the world.