Month: January 2017

Paul Benson, President and CEO said, “Our production results continue to demonstrate the strength of our operating portfolio, following the successful acquisition of the Seabee Gold Operation earlier this year. I commend our mines and their respective teams for delivering to or exceeding their operating plans. Our fourth quarter production of over 110,000 gold equivalent ounces is a strong finish to a very successful year. These results are underpinned by our operational excellence program, commitment to safe production and strong balance sheet positioning us to continue creating shareholder value in 2017.”

“Metal production was down for the fourth quarter and 2016 due to lower grades at San Ignacio and to shutdowns at Topia, with the most recent to accommodate tailings expansion and plant improvements,” stated Robert Archer, President & CEO. “The increased output from San Ignacio did result in a second consecutive annual record for gold production, and recent preliminary drill results from San Ignacio indicate that grades are likely to improve as we continue to the southeast. In addition, with the upgrades at Topia and the recently signed agreement to purchase the Coricancha Mine in Peru, we expect 2017 to be a very exciting time for Great Panther Silver as we position ourselves for production growth in future years.”

“Capstone’s 2016 consolidated copper production exceeded guidance, driven primarily by outperformance at Pinto Valley and Minto,” said Darren Pylot, President and CEO of Capstone. “Record setting production at both these operations contributed to a year of exceptional operating performance.”

Jorge A. Ganoza, President and CEO, commented: “We leave behind a year of important achievements with the successful expansion of our San Jose Mine to 3,000 tpd and the acquisition of the Lindero gold Project in Salta, Argentina. Lindero adds 1.5 million ounces of gold reserves to our existing inventory and positions Fortuna for its next leg of growth.” Mr. Ganoza continued, “In 2017, our expansion plans are going to be underpinned by our solid low-cost production base providing financial flexibility to execute engineering and development plans for Lindero and continue exploring for new compelling precious metal opportunities in the Americas and abroad.”

Cyprium Mining Corporation announces the appointment of Mr. Patrick Tributsch as director. Mr. Tributsch is currently Executive Director for UBS Switzerland. He has studied economics and corporate finance whilst specializing in the banking industry. Mr. Tributsch started his career in the banking industry in 1993. The board of directors now consists of Mr. Alain Lambert, Adrian Morger and Patrick Tributsch. Trading in the Company’s common shares on the TSX Venture Exchange had been recently halted, given the fact that the Company only had two directors.

MX Gold Corp. is pleased to announce today it has closed a private placement of 20,800,000 units at a price of $0.125 per Unit for proceeds of $2,600,000. Each Unit consists of one common share in the capital of the Company and one non-transferable common share purchase warrant, with each Warrant entitling the holder to purchase one Share at a price of $0.20 per Warrant Share for a period of three years.

At the San Sebastian mine for 2016, 4.3 million ounces of silver and 34,042 ounces of gold were produced and, for the fourth quarter, 860,071 ounces of silver and 7,042 ounces of gold were produced. The mill operated at an average of 391 tpd in 2016.