Compañía Minera Autlán, S.A.B. de C.V. announces that on June 30, 2017, it completed the sale of an aggregate of 16,370,215 common shares of GFM Resources Limited to its affiliate Metallorum Holding, S.A.P.I. de C.V. The number of shares represents ownership of 85.77% of the issued and outstanding common shares of GFMR. The sale comprises all of the GFMR shares owned by Autlan.
Hecla Mining Company today announced that it has decided not to proceed with its previously announced offer of $500 million of Senior Notes due 2025, as current terms and conditions were not sufficiently attractive for the Company to move forward. In addition, the concurrent tender offer to purchase any and all of its 6.875% Senior Notes due 2021 has also been terminated.
The San Rafael zinc-lead-silver underground mine is a brownfield mine being developed in the Cosalá mining district in Sinaloa, Mexico. Americas Silver Corporation (formerly Scorpio Mining) is developing the mine. Construction of the mine started in October 2016 and the first concentrate is expected to be produced in the third quarter of 2017. The mine is expected to produce approximately 1Moz of silver, 50 million pounds (Mlb) of zinc, and 20Mlb of lead over the initial mine life of six years.
“Continuing with our plan to focus on our producing assets within the Company, management has made the decision to divest the Gavilanes Project,” stated Arturo Préstamo, President and CEO of Santacruz. “The Company is transitioning into a multi-mine Mexican silver producer that we expect will generate solid cash flow as we grow. The monetization of Gavilanes would allow us to further improve our operations on the Company’s two producing assets, and, once completed, will serve to fulfill the remaining obligations under the JMET, LLC facility, thereby unencumbering the Company’s assets.”
We are grateful for this expression of confidence from our long-term shareholders, stated Darrell Rader, President and CEO. This significant injection of capital enhances our ability to follow-up on the considerable success we have had at the Alamos Silver project in Southern Sonora State. We look forward to updating the market shortly on our drilling plans as we continue to identify targets on the four newly discovered high-grade vein systems.
Globexplore is a customer focused, technology driven mineral exploration drilling contractor devoted to top of class drilling methods and techniques that only years of experience can achieve. Every day we strive to be the industry leader by providing the highest rate of performance, professionalism, safety and environmental responsibility.
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.
Check the Mining State Panoramas
The promotion and dissemination as essential elements to understand and disseminate our Mineral resources, that is why today it is pleased to make the document “Mining Panorama” available to society, by state.
GeoInfoMex, is the consultation system of the Mexican Geological Service that allows users to know geoscientific information and make decisions with savings in time and resources, helping to promote mining activity.
México Minero is a non-governmental organization that promotes sustainable mining.
The DOF is the organ of the Constitutional Government of the United Mexican States, which has the function of publishing in the national territory, to so that they are properly observed and applied in their respective areas of competence.
Learn about the current situation of the mining industry as well as the activities carried out by Camimex.
Mexico Mining Center © 2021 / All Rights Reserved
