Day: July 29, 2016

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.

“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.

La firma con sede en Vancouver ha comenzado el proceso de venta formal de la mina Los Filos, dijo el presidente de la firma, David Garofalo, en una entrevista, y está estudiando opciones para su mina Alumbrera en Argentina y la operación Marlin en Guatemala.

“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.