Month: January 2018

San Marco Announces Executive Appointment and Warrant Exercise

Robert Willis, San Marco’s CEO stated; “A significant part of building a strong exploration team is recognition of leadership skills. Chris has not only assembled an experienced, quality geological team, but he has been instrumental in successfully advancing our 1068 Project to drill readiness, and responsible for our recent copper/silver discovery at our Chunibas Project. “

Torex Lenders Extend Waiver On Liquidity Covenant

Fred Stanford, President & CEO of Torex stated: “This extension to the previously agreed waiver on the part of the lenders provides an extra level of comfort to temporarily minimize any risk of covenant breach while we endeavor to re-start operations at the ELG Mine. Once again, our appreciation to the Lenders for their unwavering support.”

Silver Bull Intersects 17 Meters of Sulphide Mineralization Grading 301G/T Silver & 1.75% Copper, Including 4 Meters at 502G/T Silver and 2.14% Copper, on the Sierra Mojada Project, Coahuila, Mexico

Tim Barry, President, CEO and director of Silver Bull states, “We are very pleased with the continued excellent results from our underground drill program in the sulphide zone. The high grade silver-copper mineralization seems to be hosted along favorable bedding horizons that have been steepened by an over lying thrust fault. Both the thrust fault and the favorable bedding horizons can be traced for over 5 kilometers along the entire deposit and suggests there is significant potential to expand the high grade silver-copper mineralization by targeting these geological features. In addition recent channel samples in two new zones of very high grade zinc sulphide mineralization grading up to 30% zinc identified in recently reconditioned underground workings sit along trend to the west of the current drill program (announced 10 January 2018) and suggest significant scope to expand high grade zinc mineralization into this areas. Work is currently underway to identify drill pads to target these areas. Continued results from the drill program are expected out over the next month.”

Westminster Announces Investor Relations; Provides Peru Update

Westminster Resources Ltd. is pleased to announce that it has retained the services of Mark Carruthers to provide in-house investor relations on a month-to-month basis with an effective date of November 1, 2017. Mark has 25 years of market experience including over eight years in investor relations and has provided marketing and support to other junior public companies. As consideration, the company has agreed to pay a monthly fee of $3,000 and intends to grant Mr. Carruthers 250,000 stock options, exercisable for a period of two years from date of granting at a price to be determined. These options are granted subject to the company’s Stock Option Plan, and will have a vesting provision of 25% of the options upon the date of the grant, and 25% on the first business day of each of the subsequent three quarters. The options are subject to regulatory approval and the rules and regulations of the TSX Venture Exchange.

Minera Alamos and Corex Gold Combine to Create a Leading Mexican Gold Company

Minera Alamos Inc. and Corex Gold Corporation are pleased to announce that they have entered into a definitive arrangement agreement dated January 30, 2018 to combine the two companies, creating a well-funded, multi-asset, Mexican gold development company. The combined company will have a market capitalization of approximately C$50 million, approximately C$6 million in cash and a portfolio of three high quality gold-silver development assets, each offering near-term production potential and low capital cost advantages.

Canuc Announces Vertical Amalgamation

Canuc Resources Corporation is pleased to announce that it has completed a vertical amalgamation with its wholly-owned subsidiary, Santa Rosa Silver Mining Corporation, pursuant to subsection 177 of the Business Corporations Act. The Vertical Amalgamation did not require shareholder approval and was completed to simplify the corporate structure of Canuc. No securities were issued in connection with the vertical amalgamation. The shares of the subsidiary were cancelled without any repayment of capital in respect of them.

Orla Mining Announces C$25,480,000 Bought Deal Financing

Orla Mining Ltd. announced today that it has entered into an agreement with a syndicate of underwriters led by GMP Securities L.P. pursuant to which the Underwriters will purchase, on a bought deal basis, 14,560,000 units of the Company at a price of C$1.75 per Unit for aggregate gross proceeds to the Company of C$25,480,000.

Mexican Gold Signs 3,000 Metre Drill Contract for Drilling Program at Las Minas

“The program will build on our highly successful 2017 Phase 2 drill program as we move forward to an expanded resource estimate for these two zones,” stated Brian Robertson, President & CEO. “We are very excited with the results of the Phase 2 program which delineated the high-grade El Dorado Dike Contact zone and extended the El Dorado/ Juan Bran zone by a further 65 metres to the west. We look forward to expanding the high – grade Santa Cruz zone and testing high-potential targets that have been identified on the property.”

Alio Gold Provides 2018 Guidance For San Francisco Mine

“After a turn-around year in 2017, we are expecting the San Francisco Mine to return to consistent gold production at 90,000 to 100,000 ounces this year compared to 83,558 ounces in 2017.” said Greg McCunn, Chief Executive Officer. “In 2017 we undertook a significant waste stripping campaign to open up the main pit. As a result, we now have increased mining flexibility and the ability to deliver consistent ore feed to the leach pads.

Orla Announces Increase to Bought Deal Financing

Orla Mining Ltd. is pleased to announce that it has agreed with a syndicate of underwriters led by GMP Securities L.P., and including Paradigm Capital Inc., Cormark Securities Inc., TD Securities Inc., Desjardins Securities Inc. and Raymond James Ltd. to increase the size of its previously announced C$25,480,000 bought deal offering. Pursuant to the upsized deal terms, the Underwriters have agreed to purchase, on a bought deal basis, 15,288,000 units of the Company at a price of C$1.75 per Unit for aggregate gross proceeds to the Company of C$26,754,000.

Torex Announces C$55 Million Bought Deal Financing

Torex Gold Resources Inc. has announced today that it has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets, under which the underwriters have agreed to buy on a bought deal basis 4,370,000 common shares at a price of C$12.60 per Common Share for gross proceeds of approximately C$55 million. The Company has granted the Underwriters an option, exercisable at the offering price for a period of 30 days following the closing of the Offering, to purchase up to an additional 15% of the Offering to cover over-allotments, if any. The Offering is expected to close on or about February 7, 2018 and is subject to the Company receiving all necessary regulatory approvals.

First Majestic Completes US$150 Million Convertible Senior Notes Offering

First Majestic Silver Corp. announced today the closing of its previously announced offering of US$150 million aggregate principal amount of 1.875% unsecured convertible senior notes due 2023. The initial conversion rate for the Notes is 104.3297 common shares per US$1,000 principal amount of Notes, equivalent to an initial conversion price of approximately US$9.59 per Share.

SilverCrest Expands Babicanora High-Grade Footprint to 1.3 Kilometres; More Bonanza Grades

N. Eric Fier, CPG, P.Eng and CEO, remarked, “Our drilling on the Babicanora Vein continues to expand the high-grade precious metal mineralization along a drill-tested strike length of 1.3 kilometres. The southeast extension of the Babicanora Vein, known as “Area 51” after the discovery hole, appears to be expanding in height to over 200 metres and remains open along strike and to depth. Area 51 has multiple bonanza grade intercepts within its near-surface high-grade footprint. We are only weeks away from finishing our final drill holes for incorporation into the anticipated Las Chispas maiden resource estimate.”

Americas Silver Corporation Provides Annual 2017 Production and Costs, 2018 Guidance, and an Exploration Update on Its Cosalá Operation’s Zone 120 Property

“This year will be transformative for Americas Silver with the San Rafael Mine and mill ramping up to full capacity by the middle of the year,” said Americas Silver President and CEO Darren Blasutti. “We are expecting record free cash flow, earnings, and silver equivalent production for the Company as we become one of the lowest all-in sustaining cost producers in the silver industry.”

Torex Provides Update On Its ELG Mine Complex Operations As The Illegal Blockade Has Been Removed

Fred Stanford, President & CEO of Torex stated: “We appreciate the actions taken by the State Government, supported by the Federal Government, to restore law and order to the region in a peaceful manner. We preferred a negotiated solution, but, this is the next best thing.” He added – “We also thank the communities of Nuevo Balsas and Valerio Trujano, whose support has been instrumental in getting the ELG Mine Complex re-started. We are pleased so many employees from these communities have been able to return to work, and we look forward to welcoming the rest of the team back as services to manage accommodations are restored. A special thanks to our security teams for their courage and commitment, and for the hardships they have endured over the past three months. In addition, it should be noted that our start-up teams returned to an uncertain environment and accomplished so much. We are all proud of what the Torex/MML teams have built and accomplished in Guerrero State and look forward to continuing to build prosperity for so many moving forward.”

Sonoro Options Cerro Caliche Property in Mexico

“Cerro Caliche is a very compelling under-explored gold project area located in the Sonora-Cucurpe mega-district located between the prolific north-south oriented Sierra Madre Gold Belt to the east and the northwest oriented Sonora-Mojave Megashear complex to the west,” said Kenneth MacLeod, President and CEO of Sonoro. “We are especially pleased to be able to capitalize on and continue previous exploration episodes of this productive older gold mining district and to draw upon the extensive technical expertise of Sonoro’s Mexican technical team, directed by noted geologist, Melvin Herdrick.”

Great Panther Silver Increases Mineral Resource Estimate At The Guanajuato Mine Complex

“We are excited to announce an almost doubling of the estimated Measured and Indicated Mineral Resource at the GMC to over 13 million silver equivalent ounces,” stated James Bannantine, President & CEO. “This is a strong testament to our ability to continue to develop new mineral resources at the GMC and expand its potential. In this regard, we have over 24,000 metres of drilling planned for the GMC in 2018, which we believe will continue to add to the mineral resource inventory.”

First Majestic Prices Offering of Convertible Senior Notes

First Majestic Silver Corp. announced today that it has priced its previously announced offering of unsecured convertible senior notes due 2023. The Company will issue US$150 million aggregate principal amount of Notes (or US$172.5 million aggregate principal amount if the over-allotment option is exercised in full). The Notes will be issued at par value.

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