Day: January 29, 2018

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.”

Oretest is a mining exploration drilling contractor based in Mazatlán, Sinaloa, México. The company is managed by Bart Forsyth, with 36 years of extensive drilling experience on most continents with major companies. The company takes great pride in providing high-quality services while making safety a priority. Maintenance, cleanliness, precision and proper drilling habits makes a good safety environment and produces results.
Our company BYLSA DRILLING provides drilling services in a variety of environments, ranging from typical exploration sites to extreme topographic conditions, always with the highest quality and safety standards.