“Despite the third quarter being challenged by lower grades, recoveries and two temporary shut-downs, we expect to meet our production guidance for 2016,” stated Robert Archer, President & CEO. “Furthermore, we expect to continue the trend of significant reductions in our cash costs over prior year levels.”
“We are pleased that the Company’s Oaxaca Mining Unit business plan of having multiple mines feed a strategically located mill is well underway with the development of our now fully permitted Alta Gracia mine,” stated Mr. Jason Reid, CEO and President of Gold Resource Corporation. “We were able to advance Alta Gracia forward much faster with this business plan, as we only have to justify the mining and trucking costs to haul mineral to our Aguila mill for processing. This shared mill approach eliminates the need and capital required to build a mill at each of our six properties. Furthermore, it targets moving a property into production sooner, at less cost and may add to our production profile and longevity of operations. We are very excited to soon have Alta Gracia as our second producing mine within our Oaxaca Mining Unit.”
Paul Benson, President and CEO said, “This was a strong quarter with a number of production records. Our three mines delivered impressive operating results and record quarterly gold equivalent production, reflecting the addition of a full quarter gold production from Seabee and record silver production at Pirquitas with another solid quarter from Marigold. Pleasingly, we were able to start our Operational Excellence program at Seabee and saw some immediate results. With Seabee integrated into Silver Standard, our portfolio is showing our strength as a high-quality intermediate producer with scale and margin. We continue to focus on creating shareholder value through operational excellence, exploration for mine life extension and disciplined growth.”
IDM Mining Ltd. announces that the Company has agreed to issue 3,750,000 common shares of the Company at a deemed price of C$0.17 and make a US$50,000 cash payment to a creditor in settlement of certain debts related to the Company’s past operations in Mexico. The debt settlement is subject to approval of the TSX Venture Exchange.
“This new resource estimate highlights the important progress we’ve made since the last resource estimate” said Avino President and CEO, David Wolfin. “During the past ten years, our mine site exploration efforts have been successful, consistently identifying new resources.”
Evrim Resources Corp. announces new exploration results at the Company’s 100% owned Llano del Nogal project in Sonora, Mexico. Recent mapping and ground geophysics has defined a large 1,000 metre by 600 metre zone of porphyry alteration with a buried target at the Suanse area. Llano del Nogal has had very limited exploration and represents one of the few undrilled projects within the Cananea – La Caridad Porphyry Belt.
The U.K.-listed business, the world’s largest primary silver producer and Mexico’s second-largest gold producer, reported a 6.7% rise in silver production, including output from the Silverstream contract, to 11.8 million ounces for the three months ended Sept. 30, 2016 compared with the same quarter the year before. This was mainly due to the start-up of the first phase of San Julian plant, increased ore processed at the Saucito mine and an increased contribution from the Silverstream contract.
NSX Silver Inc. announces that it has entered into a share purchase agreement with Residence Cameron Ltd. and Dr. Marc Louis Girouard to acquire all of the issued and outstanding shares of Residence Cameron Ltd. Cameron owns multi-unit residential properties totaling 63 units, at 64, 66 and 86 Cameron Street in Moncton, NB. Cameron is a New Brunswick incorporated company whose sole assets are the multi-unit residential properties in New Brunswick.
Red Tiger Mining Inc. announces that it has received the resignation of Mr. Igor Omelchenko from the Companys Board of Directors and Audit Committee. The Board of Directors thanks Mr. Omelchenko for his service and wishes him continued success in his future endeavors.
Further to its news release of August 17, 2016, Starcore International Mines Ltd. reports that October 11, 2016 is the effective date of its registration statement on Form 20-F as filed with the United States Securities & Exchange Commission for the purpose of registering its common shares under section 12(g) of the United States Securities Exchange Act of 1934, as amended. As of the Effective Date, the Company becomes subject to the reporting requirements under Section 13(a) of the Exchange Act.
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