Day: January 23, 2017

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.”

Major Drilling Group International Inc. is one of the world’s largest drilling services companies primarily serving the mining industry. Established in 1980, Major Drilling has over 1,000 years of combined experience and expertise within its management team alone.

All News

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.