Month: August 2016

Goldgroup Announces Favorable Ruling in the Arbitration Against Dyna USA, Inc, and Provides a Legal Update

“After years of legal disputes, we are getting closer to regaining control of San Jose de Gracia,” said Keith Piggott, Chairman, President and CEO of Goldgroup, “We’ll continue to work towards the enforcement through a Federal United States judge to monetize the Award.” Mr. Piggott also commented, “Due to the Award from the Arbitration, Dyna’s award of damages in excess of USD $48 million against Goldgroup, by virtue of a ruling issued on October 5, 2015 by the Thirty Sixth Civil Court of the Superior Court of Justice of the Federal District of México, is voided.”

Alset Assembles Team of Mexican Technical and Business Professionals for Lithium Salars

Alset Energy Corp. is pleased to announce that it has assembled its team of technical and business professionals from across North America for the exploration and advancement of the Mexican Lithium Salars recently acquired by the Company. The Company felt that it was imperative from the onset to have local expertise familiar with the project and related permitting as well as local business practices and customs. The following professionals have been retained by the Company to assist in moving the project forward:

Cyprium Mining calls special debenture holders meeting for September 21st, 2016

Alain Lambert, Chairman and CEO of Cyprium commented: “Following our successful conversion of $118,000 of secured debt into non-secured convertible debt in April and the extension of USD$813,750 in loans in June, we were approached by several holders of the Debentures expressing an interest in extending the maturity date and rendering the Debentures convertible. It is on that basis that we have called a special Debenture holder meeting for them to consider the matters brought forth at the meeting. We are closely evaluating similar requests from other lenders.”

Santacruz Silver Reports Second Quarter Financial Results

“During the quarter we made significant progress on strengthening our balance sheet by advancing negotiations for a CAD $15 million equity raise which was closed subsequent to the quarter end. This allowed us to restructure our senior debt obligations into a new debt facility with a significantly lower principal balance, resulting in a substantial improvement of our capital structure,” said Arturo Préstamo, President and CEO. “From a production viewpoint, at the Rosario Mine operating income increased to $0.6 million, an increase of 29% over the prior quarter. Additionally, our operations at the Veta Grande Mine continue moving towards the commencement of commercial production following which we expect the mine to be a significant and complementary cash-flow generator to the Rosario Mine.”

Canuc Resources Corporation Enters into Definitive Agreement with Santa Rosa Silver Mining Corp.

Canuc Resources Corporation and Santa Rosa Silver Mining Corp. are pleased to announce that further to the execution of the Letter of Intent announced on June 9, 2016 and the subsequent negotiation of a business combination agreement the parties have executed the Definitive Agreement on August 26, 2016, with effect as of such date, to combine Canuc and Santa Rosa by way of an amalgamation of Santa Rosa and a wholly-owned subsidiary of Canuc, to form one company as a wholly-owned subsidiary of Canuc.

Santana Minerals Closes $2M Placement

Santana Minerals Limited is pleased to announce that it has received commitments from sophisticated and professional investors to issue 33,950,000 fully paid ordinary shares at a price of $0.06 each to raise $2,037,000.

Gainey Capital Announces Appointment to the Board

Gainey Capital Corp. is pleased to announce the appointment of Mr. Barry Lee to the Company’s Board of Directors. Mr. Lee is a co-founder of Gainey and was an original member of the Company’s Board until 2014. He has extensive board and senior management experience and has provided strategic planning, corporate governance, and M&A expertise for both public and private companies within various sectors over the past twenty-two years. He is currently a director and/or senior officer of several public companies listed in both Canada and the United States.

Loma Bonita Gold Zone Continues to Grow

Azure’s Managing Director, Tony Rovira said: “These latest drilling results are very positive and supportive of our belief that Loma Bonita could become a substantial gold deposit, particularly as the grades and thicknesses of the gold zone appear to increase significantly to the south. “Together with the ongoing development studies at Mesa de Plata, Loma Bonita is a very high priority for Azure and we’ll continue to keep the drills turning there. Meanwhile, our grass roots exploration program is continuing with a diamond rig now drilling further to the south of Loma Bonita at Cerro San Simon and Cerro Enmedio testing substantial geochemical and geophysical anomalies.”

Goldcorp struggles with leak at Mexican mine

Mexican regulators said they are examining whether mining company Goldcorp Inc broke any regulations in its handling of a long-running leak of contaminated water at Mexico’s biggest gold mine.

Arian Silver – Extension of Exclusive Option over Tailings Project

Arian Silver Corporation is pleased to announce that, further to its press release on 4 May 2016 which announced the Company had secured the exclusive right for 120 days to evaluate a gold and silver tailings project held by Tierra Nuevo Mining Ltd, the period of exclusivity has been extended by a further 60 days to 28 October 2016. There was no cost incurred in the arrangement of the extension.

Telson Initiates Work at Tahuehueto

Jose Antonio Berlanga, Telson’s CEO stated “We are extremely excited to initiate the collection and processing of this 2,000 tonne industrial test in order to support the assumptions being made in the Pre-Feasibility Study currently being prepared for an early October delivery to our shareholders and to better estimate the long term economics of the project.”

Defiance Secures Surface Rights at San Acacio

“We are very pleased to have been able to conclude this agreement with the members of the community. Our success in continuing to acquire agreements for surface access rights demonstrates the support we have with the local land owners at San Acacio.” stated Bruce Winfield, President and CEO of Defiance. “With this agreement in place, we can now plan to not only continue our exploration efforts at depth but also to aggressively step out along the strike of the vein.”

Gold Resource Corp. Reports Additional High-Grade Drill Intercepts at Switchback; Including 8.19 Meters of 9.07 G/T Gold

Mr. Barry Devlin, Vice President of Exploration, stated, “Results for these three Switchback drill intercepts from the latest round of infill drilling continue to define multiple parallel high-grade polymetallic veins. This drilling was designed to assist mine planning for first direct vein development at Switchback. We expect to resume drilling the extensions of this expanding deposit in the coming months, with a goal of adding additional mineral along strike and depth.”

Excellon Appoints Ben Pullinger as Vice-President Geology

“We are tremendously excited to have Mr. Pullinger join the team in the coming weeks,” stated Brendan Cahill, President and Chief Executive Officer. “He brings an exceptional track record of discovery and project advancement using the latest in exploration techniques and has experience in all phases of the mining industry, from grass-roots exploration through to production, including a wealth of capital markets and financing experience. He has a proven ability to identify value in mining assets from early stage exploration through to production. Along with our newly appointed Vice-President Technical Services, Denis Flood, Ben will be integral to our next phase of growth.”

IMPACT Silver Announces Second Quarter 2016 Financial and Production Results

Fred Davidson, President and CEO, stated, “The increase in silver prices has had a positive impact on the Company’s financial performance. For the fourth consecutive quarter the Company’s EBITDA1 is positive at $0.6 million for Q2 2016 compared to a negative EBITDA of $0.8 million in Q2 2015. Revenues in Q2 2016 increased by 61% over Q2 2015 to $4.4 million. Operationally, the Company is continuing to improve its mine operating income, achieving income of $0.7 million in Q2 2016 compared to a loss of $0.8 million in Q2 2015.

Timmins Gold Extends Operations at San Francisco Gold Mine into 2023

Timmins Gold President Arturo Bonillas states, “We are very pleased to provide guidance for the continued operations at San Francisco which will generate significant free cash flow and offers the Company continued exposure to the rising gold price environment. Over the course of the past year, we made significant reductions in costs and increased operating efficiencies, which contribute greatly to the estimated profitability of the new life of mine plan. Additionally, the low capital requirements throughout the mine life result in very attractive all-in costs. The Company has employed a $1,250 gold price for Reserves, but the potential for significant upside optionality is noteworthy. Based on a $1,350 gold price pit, the number of Resources increases by almost 70% compared to a $1,250 gold price pit.”

Oremex Silver Inc. Completes Name Change to Monarca Minerals Inc.

Oremex Silver Inc. is pleased to announce that it has changed its name from “Oremex Silver Inc.” to “Monarca Minerals Inc.” pursuant to the provisions of the Canada Business Corporations Act. The name change was approved by shareholders at the Company’s annual and special meeting of shareholders held on July 7, 2016 and is effective as of August 22, 2016. The Company anticipates that it will begin trading under its new name on the TSX Venture Exchange and under the new symbol “MMN” at the opening of the market on August 24, 2016.

Invertirán 854 mdd en proyectos para extraer plata

Por sexto año consecutivo México se colocó en 2015 como el principal productor de plata en el mundo, seguido de China y Perú, con una extracción de 191.5 millones de onzas, 3.3% más que en 2014.

McEwen Mining Appoints Donald Brown as Sr. Vice President, Projects

McEwen Mining Inc. is pleased to announce that Mr. Donald Brown will join the Company on August 29, 2016 as our Senior Vice President of Projects. Mr. Brown has a proven track record of delivering superior results and will lead the advancement and future development of our portfolio of global assets including the Los Azules copper project in Argentina and the El Gallo Silver project in Mexico, as well as assisting our current team with the ongoing development of the Gold Bar project in Nevada.

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