Month: January 2017

“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.

“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 Silver Inc. reports that at its annual general meeting held on November 30, 2016, that Shareholders voted in favor of all items of business before the meeting, including the election of the following incumbent directors for the ensuing year: Kenneth E. Berry, James M. McDonald, Brian Groves, Joseph P. Giuffre, Nathaniel Jon Morda, Andrea Zaradic and Antonio Reda.

By mutual agreement with the prospective purchaser, the Corporation has put an end to the previously announced negotiations to sell all of its interests in its Mexican mining exploration assets to Minerales y Yacimientos Mexicanos Sacreamento S.A de CV. The Corporation will seek to maximize the value of these assets through other transactions or potential operating relationships or partnerships that it intends to develop prior to the completion of its RTO, as further described below.

“Achieving this milestone is a critical first step toward rewarding the long-term dedication and perseverance of all of our key stakeholders,” said Kiran Patankar, Geologix’s President and Chief Executive Officer. “During a challenging multi-year period for junior miners following the completion of a Pre-Feasibility Study on Tepal in 2013, our Board of Directors made a prudent decision to curtail spending and minimize shareholder dilution, while stepping in to provide the Company with interim funding to keep the Project in a clean and unencumbered condition until resource capital markets improved. When metals prices stabilized and reversed direction in 2016, the Company enhanced its management team, completed a modest private placement, and commenced an extensive review of Tepal. We look forward to resuming project development based on these promising results.”

Bradford Cooke, CEO of Endeavour, stated, “The dip in reserves and resources at our three operating mines was a result of our reduced capital and exploration spending last year. Now that metal prices are recovering, we have resumed our investments to find and develop new reserves and resources. Our exploration efforts at the development projects last year were successful in identifying new mineralization, so we anticipate Terronera and El Compas should add to our total resources to be released in March.”