Month: January 2017

Riverside Resources Signs Two Agreements and Consolidates Ground at the La Cecilia Gold Project in Sonora, Mexico

Riverside Resources Inc. is pleased to announce that the Company has signed agreements with Gunpoint Exploration Ltd. and Millrock Resources Inc. to consolidate the former company’s three La Cecilia Margarita concessions with the Violeta concession into a unified Cecilia Gold Project. The Cecilia Project, located in northeastern Sonora, Mexico, is targeting epithermal gold-silver mineralization in a rhyolite dome setting with potential for open-pit mining.

Responde Tello a Fresnillo PLC

El gobernador Alejandro Tello Cristerna calificó al impuesto de responsabilidad ecológica como “una acción de justicia social”, durante la presentación del Plan Estatal de Desarrollo (PED).

Excellon Provides Update On Optimization Program And 2016 Production Results

“The Company’s optimization program at Platosa is progressing well, with submersible pumps coming online by year-end 2016 and initial pumping results far exceeding our expectations,” stated Brendan Cahill, President and Chief Executive Officer. “With the first two submersibles started, we achieved over one metre of drawdown in the first week of operation, far beyond forecast and yet further proof of the project’s efficacy. Well drilling continues on schedule, with nine of fourteen wells now complete and ready for pump installation. We are currently calibrating the well set-up for installed submersibles to ensure sustained pumping operations going forward and remain on track to complete the implementation by the end of Q1 and attain dry mining conditions during Q2.”

Americas Silver Corporation Announces 2016 Production and Costs, 2017 Guidance, and Glencore Pre-Payment Facility

“We are very excited for our investors as the San Rafael Project is developed and transitions into production this year. The transition will prove to be a significant catalyst for our share price as it will drive our consolidated costs lower to silver?industry, first quartile, cash costs and all?in sustaining costs, and create considerable free cash flow. This is an accomplishment which neither of the predecessor companies ever envisioned,” said Darren Blasutti, President and CEO of Americas Silver Corporation. “Though 2016 silver and silver equivalent production was slightly below guidance, the Company was able to maintain its pattern of cost control and benefitted from higher by?product metal prices.”

Golden Minerals Announces Resource Estimate For Rodeo Project

Warren Rehn, President and Chief Executive Officer of Golden Minerals, commented, “The mill grade resource of about 50,000 gold equivalent ounces has the potential to provide us with more than two years of feed for our Velardeña oxide plant. This could be an important replacement to the Company’s current cash flow from the mill starting in 2019 after the Hecla lease expires, assuming positive economic results from our ongoing studies of the Rodeo deposit.”

Mammoth Resources Reports Results From its Pima-XRD Surface Program at its Tenoriba Precious Metal Project, Chihuahua, Mexico

Thomas Atkins, President and CEO of Mammoth commented on the results from this program stating: “We’re pleased with the results from the PIMA-XRD survey. These results provide us with improved recognition of areas within the larger 15 square kilometer area of precious metal mineralization that would appear to be nearer more intense hydrothermal activity. The model for a High Sulphidation precious metal system, as is believed to exist at Tenoriba, suggests that the nearer the source of hydrothermal activity, the nearer one is to identifying the sources of the precious metal mineralization on the property. The results of this program combined with additional indications hydrothermal activity such as hydrothermal breccias, intense silicification and vuggy silica, associated with favourable geochemistry and precious metal mineralization, reinforces and helps better define the most likely source of the mineralization on the property….

Alamos Gold Announces US$250 Million Bought Deal Financing

Alamos Gold Inc. today announced that it has entered into an agreement with a syndicate of underwriters led by TD Securities Inc., BMO Capital Markets and Macquarie Capital Markets Canada Ltd., pursuant to which they have agreed to purchase, on a bought deal basis, 31,450,000 common shares of the Company at a price of US$7.95 per common share, for aggregate gross proceeds to the Company of approximately US$250 million. The underwriters will also have the option, exercisable in whole or in part, at any time up to 30 days following the closing of the Offering, to purchase up to an additional 4,717,500 common shares at the Offering Price to cover over-allotments, if any. In the event that the option is exercised in its entirety, the aggregate gross proceeds of the Offering to the Company will be approximately US$288 million.

Fresnillo prevé reducir hasta en 6.9% producción de oro en 2017

“Me complace informar que Fresnillo plc ha logrado una producción récord en 2016, habiendo producido 50.3 millones de onzas de plata y 935 mil de oro. El exitoso incremento de San Julián (fase I) fue la razón principal del aumento de 7 por ciento en la producción anual de plata, aunque los mayores grados de plata en Ciénega y Fresnillo también contribuyeron al aumento de la producción”, destacó el CEO.

Endeavour Silver Provides Production and Cost Guidance for 2017

Bradford Cooke, Endeavour CEO, commented, “We expect 2017 to be a transformative year for Endeavour as our attention turns to growth. The emergence of our exciting new Terronera discovery and the acquisition of two attractive projects last year, El Compas and Parral, have positioned us for significant growth over the next three years which we think could coincide with rising precious metal prices. We believe now is the right time to invest for the future across our portfolio.”

Candente Gold Announces Purchase of Remaining 30% Interest in El Oro Project from Goldcorp Subsidiary

Candente Gold Corp. is pleased to report that it has entered into a Purchase and Sale Agreement pursuant to which it will acquire the remaining 30% interest in the El Oro Project in Mexico from Desarrollos Mineros San Luis, S.A. de C.V., a subsidiary of Goldcorp Inc. Upon closing of the acquisition of the Transferred Interest, the Company will hold 100% interest in the El Oro Project as it had previously earned a 70% interest in the El Oro Project from Goldcorp.

Alix Resources – Metallurgical Testing Commences on Lithium Enriched Clays and Trenching Results from Agua Fria at the Electra Project, Sonora, Mexico and Announces Flow Through Financing

Christopher Ecclestone the CEO of Alix Resources commented: “With this trenching, the imminent met work results and the upcoming drilling the potential of Agua Fria should start to become apparent. The trenching in particular has expanded the Company’s view of the size of the mineralization and has given us an enhanced target map for the drilling season”.

Fortuna Announces US$65 Million Bought Deal Financing

Fortuna Silver Mines Inc. announces that it has entered into an agreement with a syndicate of underwriters, co-led by Raymond James Ltd., BMO Capital Markets and Scotia Capital Inc., pursuant to which the Underwriters have agreed to buy on a bought deal basis, 10,325,000 common shares of the Company at a price of US$6.30 per Common Share, for total gross proceeds of approximately US$65.0 million. The Company has also granted to the Underwriters an over-allotment option to purchase up to 1,548,750 additional Common Shares. The Over-Allotment Option will be exercisable for a period of 30 days following closing of the Offering.

Firma’s GracePoint Mining Corp. announces completion of payments and confirmation of the Joint Venture with MX Gold Corp.

Firma Holdings Corp., through its subsidiary GracePoint Mining Corp., announces that, further to its news release dated October 25, 2016, MX Gold Corp. has paid all remaining installments, totaling $2.5 million USD, and has earned a 50% participating ownership interest and 45% net profit participating interest in the Magistral, Del Oro tailings project located in Mexico.

Telson Resources Inc. Announces NI 43-101 Pre-Feasibility Study for its Tahuehueto Project in Durango, Mexico has been filed on SEDAR

“With the delivery of this Prefeasibility Study we are now able to present shareholders a clear path forward to achieve the Company’s goal of commercial production at Tahuehueto. Management is committed to this goal and will continue with its numerous initiatives already in progress to secure the necessary mine build funding, as well as to progress development and engineering work currently underway on site, advancing the project towards production throughout the coming year.” stated Ralph Shearing, P.Geol, President of Telson.

MX Gold Corp. Completes Acquisition of Magistral Joint Venture

“After conducting weeks of due diligence on site in Durango, Mexico, I am confident and excited with the value the Magistral Project is going to bring to MX Gold. The company and its shareholders can look forward to us reporting on our progress from Durango in the weeks to come.” – Bert McPherson, President.

Avino Provides 2016 Year End Summary And Outlook For 2017

“We are very pleased with our production and operational achievements at the Avino and San Gonzalo Mines in 2016. Solid future cash flow from Avino and San Gonzalo, and proceeds of the recent bought deal financing will provide the Company with the flexibility to fund capital and exploration projects while maintaining a solid financial position. Providing further flexibility within our budgets is our ability to finance new equipment together with the zero penalty deferral of the Samsung payback. Another productive year is expected in 2017, with plans including a plant and mine expansion to increase throughput capacity at the processing plant by an estimated 70%, advancement of the Oxide Tailings Resource project, continued construction and consideration of new initiatives regarding tailings storage, as well as a three-phased expansion program at Bralorne. The estimated capital expenditure costs for these important plans in 2017 will be an estimated USD$16.3 million, all of which will help the company develop and continue to create shareholder value.”

Kootenay Reports Metallurgical Testing on La Cigarra Deposit Returns Enhanced Silver Recoveries Utilizing Silvox Process

James McDonald, P.Geo, President and CEO stated, “Although additional metallurgical testing using standard and SILVOX processes will be required to further assess silver recoveries, results from preliminary testing utilizing the SILVOX process are highly encouraging. The ability to achieve enhanced silver recoveries could have a profound impact on the economic viability of La Cigarra and its potential near-term development as a low-cost, open-pit heap leach operation. Further detailed metallurgical testing using standard and SILVOX processes is expected to be completed in the near future”.

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