Month: August 2017

GoGold Resources Inc. announces the release of financial results for the quarter ending June 30, 2017. Revenue attributed to the Parral tailings project was $4.65 million (of total revenue of $5.02 million) on the sale of 286,063 silver equivalent ounces at a cash cost of $9.61 per silver equivalent ounce (including Santa Gertrudis high-grade, total sales were 310,833 silver equivalent ounces at a cash cost of $16.20 per ounce) (all amounts are in U.S. dollars).

Primero Mining Corp. today announces that it has received formal notification from the New York Stock Exchange of its intention to initiate delisting procedures of the Company’s common shares.

George Paspalas, President and CEO, commented, “The Juanicipio project has grown dramatically in scope since our last PEA and this has prompted several positive design changes that we’re working on with our JV partner Fresnillo. This is the time to get it right, before we embark on significant capital spend. We have intensified underground development to enable higher mining rates to be achieved from the outset of the project. We are bringing the project development up to feasibility level, and we will continue our core strength area of exploration on the property, with drilling aimed for further expansion of the deep zone and testing some other regional targets away from the current discoveries.”

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.”

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.”