Year: 2016

The gross proceeds of the financing shall be used for 1st stage drilling on specific targets on the Pino de Plata Project in Mexico and for working capital. The Company will pay all reasonable expenses and fees incurred in connection with the Offering and Agents will be paid a negotiated cash fee as a percentage of the gross proceeds raised in the Offering.

Candente Gold Corp. is pleased to announce that the non-brokered private placement launched on July 11th, 2016 has been fully-subscribed. The Company may increase the size of the Private Placement to accommodate additional qualified investors who subscribe by 5pm PST on Thursday, August 4th, 2016.

“We increased production levels in the second quarter and we are committed on continuing to bring both of our mines up to their optimal operating rates,” stated Ernest Mast, President and Chief Executive Officer. “San Dimas showed solid production improvements over Q1 2016, achieving average mining rates of 2,500 tonnes per day. But there is still much work to be done to optimize and refine the mining cycle, increase development rates and maximize productivity and grades. We had labour disruptions during July that impacted July’s production and delayed some development work. As a result we initiated a mine optimization plan focusing on technical and human resources issues. We are continuing to make progress at Black Fox in developing the Deep Central Zone ahead of production expected in the third-quarter, unfortunately we have experienced delays in early July due to poor ground conditions on the 660 metre level. In light of these challenges the Company has reduced its 2016 production guidance.”

McEwen Mining Inc. is pleased to announce consolidated quarterly production of 39,555 gold equivalent ounces, which accounts for 27,888 ounces gold and 875,006 ounces silver. The Company reported net income of $8.4 million and $21.3 million as well as earnings from mining operations of $19.3 million and $38.8 million for the three and six months ended June 30, 2016, respectively.

Grupo México, Autlán, Minera Frisco y Peñoles registraron un incremento de 16 por ciento en su flujo operativo durante el primer semestre del 2016 como resultado de la fortaleza del dólar frente al peso y una mayor extracción de metales.

“Great Panther’s mine operating earnings before non-cash items increased 96% over the second quarter of 2015 due to higher silver and gold prices, favourable foreign exchange rates, and continued strong operating performance. These factors were also reflected in significant increases in operating cash flow and adjusted EBITDA, and contributed to significant growth in our cash and net working capital balances”, stated Robert Archer, President and CEO. “The substantial increase in our cash flow and margins were also reflective of 74% and 43% reductions in our cash cost and all-in sustaining cost compared to the second quarter of 2015. These came in at an impressive US$1.72 and US$7.19, respectively, for the second quarter. As such, we are taking the step to reduce our cash-cost and all-in sustaining cost guidance for the year while maintaining our production guidance.”

Vendome Resources Corp. is pleased to announce that, further to its news releases dated June 30, 2016 and July 18 2016, it has completed its non-brokered private placement financing for aggregate gross proceeds of $542,562.46, by issuing 59,008,331 units of the Company at a price of $0.0075 per unit for gross proceeds of $ $442,562.48, and 13,333,331 “flow-through” shares at a price of $0.0075 per share for gross proceeds of $99,999.98.

The consideration for the Right is US$2,500,000, of which US$1,900,000 was paid at execution and an additional US$600,000 will be paid in the event the owner of Caballo Blanco receives the approval of the project’s environmental impact statement from SEMARNAT. This US$600,000 contingent payment no longer has an expiration date.

Endeavour CEO Bradford Cooke commented, “Having successfully minimized our all-in sustaining costs and boosted our free cash flows in recent quarters, management returned its attention to optimizing near-term production and long-term growth in Q2, 2016. Our production is well ahead of plan for the year and as a result, we revised our operating plan and raised our production guidance by about 13% for 2016.