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.

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Maza Drilling is a Mexican company established in 2007 in Mazatlán, Sinaloa. Our Canadian founder, Mr. Guy de Launiere, has over 20 years of international experience managing diverse drilling operations. Maza Drilling strives to compete at the highest levels in terms of recovery, effectiveness, efficiency, and affordability at every project while keeping at the forefront of technology to meet our customer’s needs in this demanding market.