Month: December 2017

Defiance Announces Resignation

Defiance Silver Corp. announces the resignation of Mr. Roy Bonnell as Chief Executive Officer and President effective immediately. Defiance has commenced a search for his replacement.

Sierra Metals Significantly Increases Mineral Resource Estimate for Cusi Silver Mine, Mexico

“Sierra’s management team is extremely pleased with the significant increases realized in the measured and indicated resource, and the increase in inferred resources reported in this resource estimate for the Cusi Mine” stated Igor Gonzales, President and CEO of Sierra Metals Inc. “When compared to the previous estimate from January 2017, the Company saw a 129% increase to the measured and indicated resource tonnage and a 36% increase in the inferred resource tonnage. These increases represent a significant amount of additional drilling and mine exploration development work completed at the Cusi Mine which included the Santa Rosa de Lima Zone which has strong potential for further structural extensions of high-grade zones. Furthermore, the increased resource tonnage volume is a result of wider, higher-grade silver zones which are the foundation for the Company’s new operating plan which should significantly improve the cashflow prospects for Cusi in 2018 and beyond.”

SilverCrest Announces Infill Drilling Results for Babicanora Vein

N. Eric Fier, CPG, P.Eng, President and CEO, remarked, “Our continued drilling of the Babicanora Vein has shown consistent high-grades along the drill-tested strike length of over one kilometer, and this vein is open to the southeast and northwest. Currently, we are drilling an additional 10 to 15 surface holes at the Babicanora Vein to test for further extensions by mid-January 2018 in anticipation of releasing a maiden resource estimate for the Las Chispas Property in February 2018.”

Orla Mining Ltd. Announces Share Settlement

Orla Mining Ltd. announces that its Board of Directors has approved a proposed share for debt settlement with certain creditors, providing for the settlement of an aggregate of $206,783 in debt through the issuance of an aggregate of 147,702 common shares of the Company at an issue price of $1.40 per common share.

México es el sexto productor de plomo en el mundo

La producción minera mundial de plomo en 2016 se situó en cuatro mil 704 millones de toneladas, de las cuales el 49.7% correspondió a China; 9.7%, Australia; 8.8%, Europa; 7.2%, Estados Unidos; 6.7%, Perú; 5.0%, México; y 12.9% otros países, según el reporte.

Primero Extends Revolving Credit Facility to January 11, 2018

Primero Mining Corp. today announced that the Company has agreed with its lenders to an extension of its revolving credit facility and guarantee provided by Wheaton Precious Metals Corp., previously maturing on December 22, 2017. The maturity of the RCF has been extended to January 11, 2018, providing the Company with the ability to continue negotiations surrounding its previously announced strategic review process and the possible divestiture of its San Dimas mine in Mexico. There can be no certainty that these discussions will result in a resolution acceptable to all stakeholders.

Torex And Lenders Sign Waiver On Liquidity Covenant

Fred Stanford, President & CEO of Torex stated: “A frequently asked question we have received is whether we would breach the liquidity covenants of our Credit Facility. This no cost waiver to temporarily reduce the liquidity covenant is helpful in that it extends the time before liquidity becomes a covenant breach risk. The high quality of support that the Lenders have provided is appreciated and has been consistent throughout their relationship with Torex.” He added, “This month we also received VAT returns of US$13 million, which has helped to reduce liquidity risks.”

Major Drilling Group International Inc. is one of the world’s largest drilling services companies primarily serving the mining industry. Established in 1980, Major Drilling has over 1,000 years of combined experience and expertise within its management team alone.

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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.