Day: August 10, 2017

Leagold Reports Q2 2017 AISC/Oz of $989 and All-In Sustaining Cost Margin of $13.8 Million

Neil Woodyer, CEO stated “We are pleased with the progress that has been made at Los Filos since we acquired the mine in April. As mentioned earlier in July, Los Filos is in the midst of a six-month transition period expected to last through Q3, with numerous operational improvements and capital programs being implemented to improve our open pit and underground mining and heap leach processing. Despite being in a significant business transition phase, Los Filos generated positive all-in sustaining margin and free cash flow during Q2. We have started two capital investment projects – refurbishing and installing an agglomeration drum at an estimated cost of $1.3 million and extending the conveyors to deliver crushed ore more efficiently to Pad 2 at an estimated cost of $5 million. These capital projects are expected to improve production and cost performance starting in 2018.”

Argonaut Gold Announces Second Quarter 2017 Operating and Financial Result; Narrows Range of Production Guidance to Upper End Production of 29,730 Gold Equivalent Ounces and Earnings per Share of $0.04

Pete Dougherty, President and CEO stated: “Due to our strong first half, we are now pointing towards production at the upper end of our guidance range at between 122,000 and 130,000 gold equivalent ounces. As we continue to build upon a solid foundation of Corporate Social Responsibility, we are delighted that, for the fifth consecutive year, we have been awarded distinction at the highest level for our activities at the La Colorada mine. Overall both operationally and financially, we had another strong quarter – our third consecutive. I am also pleased to see the San Agustin construction project nearing completion on schedule and tracking under budget, and I’m very satisfied with the positive results of our brownfields exploration program at El Castillo on the San Juan mineral concession purchased from Fresnillo earlier this year.”

Millrock Provides 2017 Exploration Update

Reflecting on Millrock’s current exploration activities, President and CEO, Gregory A. Beischer, stated: “During the industry downturn Millrock moved boldly to grow its property portfolio. Now that metal prices and investor sentiment have improved, we are ramping up exploration efforts significantly. With robust drilling budgets now in place, we have a good chance to make a discovery that will benefit all Millrock shareholders.”

Endeavour Silver Appoints New Vice President, Engineering to Lead New Technical Services and Mine Development Group

Endeavour Silver Corp. announces the appointment of Andrew Sharp as its new Vice President, Engineering to lead the Company’s new Technical Services and Mine Development Group.Mr. Sharp, B.Eng., FAusIMM., is a professional engineer with 30 years of experience in the mining industry, is fluent in Spanish and has worked many years in Mexico. He brings to Endeavour a wealth of experience in executive and mine management, mine planning and operations, mine startups and turnarounds, mine evaluations and feasibility studies, mine permitting and government relations.

Primero Reports Second Quarter 2017 Results

“Although we saw an improvement in operations at Black Fox during the second quarter of 2017, the strike action at San Dimas early in the quarter followed by further labour disruptions have weighed on the Company,” said Joseph F. Conway, Interim President and Chief Executive Officer. “I am pleased that we will reduce our total outstanding debt with the sale of the Black Fox mine. However, we still have outstanding debt that matures in November 2017, that will require additional funding or refinancing to repay in full. We have made progress with the Mexican tax authority and have started receiving VAT refund instalments, which has helped to improve our financial position.”

Torex Reports Second Quarter 2017 Financial And Operational Results

Fred Stanford, President & CEO of Torex stated: “Q2, 2017 was an excellent operating quarter, with significant progress made in the ramp-up of the operations. The processing plant team increased throughput by 26% over Q1, and effectively achieved design throughput levels in June. The mining team increased production by 30% over Q1. Operating costs per tonne were within 2% of target and recoveries at 86%, were consistent with design expectations at the grade processed….”

Santacruz Silver Completes Gavilanes Project Payment

Santacruz Silver Mining Ltd. announces, further to its news release of August 8, 2017, that it has settled the outstanding balance owing on certain of the claims included in the Gavilanes Project by making a cash payment of US$500,000 and issuing 1,250,000 common shares of Santacruz, plus applicable value added taxes, to the property vendor. The shares are subject to a hold period and may not be traded until December 11, 2017 except as permitted by applicable securities legislation and the rules and policies of the TSX Venture Exchange.

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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.