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.

Telson Resources Inc. Secures $150,000,000 Mexican Pesos Line Of Credit

“The loan funding strategy being adopted in this significant financing avoids further equity dilution to Telson’s current shareholders, seeking to give greater value to investors.” states Antonio Berlanga, CEO and Director of the Company, “Furthermore, the funds available to the Company in the LOC Agreement will allow us to make significant advancement towards the Company’s goal of reaching commercial production at Tahuehueto and the LOC Agreement has the flexibility of full repayment without penalty, allowing the Company to potentially access new loans and/or future equity capital under more favorable market conditions.”

Cyprium Mining announces the appointment of Jonathan George to its board of directors

Mr. George is a consulting geologist and entrepreneur who has been involved in international mineral exploration and development for over 35 years. He has raised more than $60 million for various projects around the world, including Mexico. Mr. George was the President and Co-founder of Creston Moly Corp, which acquired Mexico’s largest molybdenum deposit. Creston merged with Mercator Minerals in 2011 in a transaction valued at more than $176 million. Prior to his success with Creston, he was President and CEO of ESO Uranium (predecessor of Alpha Minerals) where he was instrumental in assembling one of the largest land packages in the Athabasca Basin, Saskatchewan; Alpha and its partner Fission Energy made one of the most significant uranium discoveries in recent history on their Patterson Lake South joint venture.

Americas Silver Corporation Provides Second Quarter Operating Results and Corporate Update

“As expected, second quarter production and cash costs were impacted by the ground movement at the Cosalá Operations and expected lower grades at the Galena Complex. This was offset by the Company’s continued efforts to cut costs,” said Americas Silver President and CEO Darren Blasutti. “With Nuestra Señora returning to expected tonnage, grades and recovery, and with Galena expecting higher grades in the second half of 2016, we expect the second half of the year to be stronger. For the remainder of the year, we will focus on a construction decision for our San Rafael Project before the end of the third quarter and increasing mining in higher lead grade areas at the Galena Complex.”

Fortuna announces retirement of director

Fortuna Silver Mines Inc. Mr. Simon Ridgway, Chairman of the Board, announces that Mr. Michael Iverson has retired from the Board of Directors. Mr. Iverson joined the board of the predecessor company of Fortuna back in 1998.

Capstone Mining Second Quarter 2016 Financial Results

Capstone Mining Corp. today announced its financial results for the three and six months ended June 30, 2016. Operating cash flow before changes in working capital was $21.6 million or $0.06 per share, with a net loss of $13.4 million and an adjusted net loss of $7.5 million after adjusting for certain non-cash and non-recurring charges. Copper production for the quarter totalled 28,157 tonnes (27,200 tonnes of payable copper) at a C1 cash cost of $1.51 per payable pound produced with copper sales for the quarter of 22,549 tonnes at a C1 cash cost of $1.66 per payable pound sold.

Gainey Capital Strengthens Technical Advisory Board

“After visiting the El Colomo Property and analyzing the Company’s current drill program in progress, I am very excited to be an addition to the already strong technical team that has been assembled and is exploring the El Colomo Gold-Silver Project. I look forward to working with Rafael Gallardo and the Cascabel team in moving this exciting project forward,” said David Hladky.

Excellon Resources Completes $15.2 Million Bought Deal Financing

The Company intends to use the net proceeds of the Offering to fund accelerated exploration at the Company’s Platosa Project, for capital expenditures at the Platosa Mine and Miguel Auza Mill, for working capital expenses and for general corporate purposes. For additional details regarding the use of proceeds of the Offering, please see the Company’s short form prospectus dated July 19, 2016 that is available under the Corporation’s profile on SEDAR at www.sedar.com.

Riverside Options The Glor Gold Project To Centerra Gold Inc

Riverside’s President and CEO, John-Mark Staude, stated: “We are pleased to have Centerra as a partner and we look forward to continuing our joint exploration efforts to make a discovery in the Sonora Mega-shear Gold Belt. Riverside’s prospect generation has taken advantage of the downturn in the market to acquire and develop excellent new gold, silver and copper targets and we look to the near future to push these ahead with additional joint venture option agreements.”

Bacanora Announces Board Change

BACANORA MINERALS LTD. the AIM and TSX Venture Exchange listed lithium and borates company focussed on Mexico, announces that Colin Orr-Ewing is stepping down as Non-Executive Chairman of the Company due to personal reasons. Mr. Orr-Ewing will remain on the Board as a Non-Executive Director.

McEwen Mining Reports Q2 Production Results, Cash and Bullion Increase to $57 Million

“We have strived to ensure that our share owners enjoy the full benefit of higher gold, silver and copper prices. We have not sold any royalties or metal streams and we do not hedge our precious metal sales. I am pleased with our progress of building a strong balance sheet, which will allow us to fund the future development of our Gold Bar mine and El Gallo Silver mine with reduced financing requirements,” stated Rob McEwen, Chairman and Chief Owner.

Marlin Gold Closes Non-Brokered Private Placement

Marlin Gold Mining Ltd. is pleased to announce that it has completed its previously announced non-brokered private placement of common shares. Pursuant to the Equity Offering, Marlin issued 13,000,000 common shares of the Company at a price of $0.50 per Common Share for aggregate gross proceeds of approximately $6,500,000.

Highvista Gold Inc. Enters Into Loan Facility

Further to the previously announced, Change of Business and Sale of Mining Assets detailed in the Press Release of June 28, 2016 available at www.sedar.com, the Company announces that it has entered into an unsecured loan facility in an amount of up to $150,000 in order to fund a portion of the Company’s working capital requirements during the Reverse Takeover. Readers will recall that in the June 28, 2016 Press Release the Company announced that it had entered into a conditional share purchase and sale agreement to sell 100% of a Mexican subsidiary that controls the 24,055 hectare Canasta Dorada Gold Project and requires the payment of certain taxes and payables to complete the transaction and its intention to complete, as one of the conditions of the Mexican Sale, a reverse takeover and change of business transaction to transition its existing mining business to an investment company to include the areas of equipment financing in the construction and infrastructure areas and real estate-oriented investments.

Candelaria Mining Corp. Completes Acquisition of Caballo Blanco Gold Project

Candelaria Mining Corp. is pleased to announce the completion of the acquisition of the Caballo Blanco Gold Project in Veracruz, Mexico from Molimentales Del Noroeste, SA de CV, a subsidiary of Timmins Gold Corp. Pursuant to the terms of the agreement, Candelaria has made a final payment of US$3.154 million to Timmins to acquire the Caballo Blanco Gold Project and deferred a US$2.5 million payment to be made at the earlier occurrence of the Company receiving permits or June 24, 2017, secured by a promissory note and security interest. The Company has also assumed US$5 million in liabilities in exchange for the project and all related rights and assets.

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