Day: November 2, 2016

Timmins Gold Continues Strong Performance Cash Flow From Operations of $9.8 Million in Q3 2016

“We are very pleased with our financial performance during the quarter and fiscal year to date,” stated Interim CEO Mark Backens. “Our cash costs for the quarter of $785 per ounce and all-in sustaining cash costs of $846 per ounce were particularly strong and were both 23% lower than the comparable period of the previous year. Of significant note is the great improvement in our balance sheet with over $33 million of positive contribution over the first three quarters of this year during which our cash balance increased to $18.5 million from $9.2 million, our trade payables reduced by over $12.3 million to $14.5 million and we have repaid over $11.8 million in secured debt.

Great Panther Silver Reports Third Quarter 2016 Financial Results

“Great Panther’s third quarter mine operating earnings, operating cash flow and net income all showed significant increases over the third quarter of 2015, reflecting improved metal prices and favourable foreign exchange rates,” stated Robert Archer, President and CEO. “In addition, we have seen a significant increase in operating cash flow on a year-to-date basis that, along with the completion of a $29.9 million bought deal financing in July, has contributed to a significant strengthening of our balance sheet. The Company also continues to be debt free.”

Minera Santa Rita, Subsidiaria de Alamos Gold Alcanza 3 Millones de Horas/Hombre Sin Accidentes

El pasado 31 de octubre, la Mina El Chanate, ubicada en el municipio de Altar, Sonora, logró el record de tres millones de horas-hombre sin accidentes incapacitantes; esto representa 667 días sin accidentes. Esta meta se ha cumplido gracias al compromiso y cultura de los colaboradores de Minera Santa Rita junto a sus contratistas Sinergia Obras Civiles y CAT Nuñez quienes mantienen el valor principal de la empresa que es “Llegar a casa seguro todos los días”.

Argonaut Gold Announces Receipt of Change in Use of Soil Permit and Construction Decision for its 100% Owned San Agustin Project|

Pete Dougherty, President & CEO stated: “With the receipt of the final major permit for San Agustin and an expected after-tax IRR of 50%, the board approved the construction of the project. We view San Agustin as a low-risk, high-return project where we are able to utilize numerous synergies with our nearby operating El Castillo mine. The El Castillo and San Agustin deposits are very similar geologically, as is the characterization of mineralization. This allows us to incorporate similar mining and processing procedures at San Agustin that we currently utilize at El Castillo.”

Gold Resource Corporation Reports Third Quarter Net Income of $1.6 Million, or $0.03 per Share; Maintains 2016 Production Outlook

Gold Resource Corporation reported production results for the third quarter ended September 30, 2016 of 6,066 ounces of gold and 431,335 ounces of silver, which along with base metal revenue generated $21.4 million in net revenue and $1.6 million in net income for the quarter. Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA. The Company has returned $108 million to shareholders in monthly dividends since commercial production commenced July 1, 2010, and offers shareholders the option to convert their cash dividends into physical gold and silver and take delivery.

Realizan concurso de catrinas recicladas en Fresnillo

Con el objetivo de fomentar la cultura del reciclaje y el respeto a las tradiciones de nuestro país entre los estudiantes de la ciudad y en el marco de la celebración de Día de Muertos, Minera Fresnillo PLC llevó a cabo el Primer Concurso de Catrinas y Catrines Reciclados en equipo con otras empresas e instituciones educativas.

Marlin Gold Mining Ltd. – Stacks 18,052 Ounces Gold in October at La Trinidad

Since September 15th, when Marlin began consistently mining the high grade HS Zone, the Company has stacked almost 19,500 ounces of gold with 18,052 coming in October alone. The tonnes stacked in October had an average grade of approximately 4.30 grams per tonne. In addition, Marlin has built up an approximately 50,000 tonne stockpile of mineralized material at similar grades waiting to be crushed and stacked onto the leach pad.

Excellon Reports Third Quarter 2016 Financial Results

“During the third quarter, we completed much of the heavy lifting required to set our ongoing optimization plan on the home stretch,” stated Brendan Cahill, President and Chief Executive Officer. “We completed all material development and prepared to accelerate finalization of the plan by resolving drilling issues and adding an additional rig. Increased development, both in respect of the optimization plan and to lower levels of the Rodilla Manto, was partially responsible for lower silver ounce production and an associated higher AISC per silver ounce payable. Over the next two quarters, however, we are focused on completing the remaining well drilling and pump installations, with the first primary booster station coming online in the next few weeks. Our financial position is strong, with ample funds available to complete the optimization plan and continue exploration as we pursue our goal of doubling production and more than halving costs at the highest grade silver mine in Mexico.”

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.

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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.