Month: January 2018

Torex Announces Filing of Preliminary Base Shelf Prospectus

Torex Gold Resources Inc. announces that it has filed a preliminary short form base shelf prospectus with the Securities Commissions in each of the provinces and territories of Canada, except Québec. The base shelf prospectus will allow Torex to make offerings of up to $500 million of common shares, debt securities, subscription receipts, warrants and units or any combination thereof. When final, the base shelf prospectus will be effective for a 25 month period. The specific terms of any offering of Securities, including the use of proceeds from any offering, will be set forth in a shelf prospectus supplement. The Company has filed this base shelf prospectus to maintain financial flexibility but has no immediate intentions to undertake an offering.

New Gold Delivers on 2017 Production and Cost Guidance and Provides 2018 Outlook

Cerro San Pedro finished active mining and transitioned to residual leaching late in the second quarter of 2016. As a result, and consistent with expectations, the mine’s fourth quarter and full-year 2017 gold and silver production decreased compared to the prior year. 2017 full-year gold production was slightly below the guidance range of 35,000 to 45,000 ounces.

First Majestic drills 8.2 metres grading 11.5 g/t gold and 633 g/t silver at Ermitaño West

Charles Funk, VP of New Opportunities and Exploration commented, “We are very excited by the development of the Ermitaño West vein. Drilling to date has traced a zone that is 590 metres in strike and up to 210 metres deep with an average thickness of approximately 11 metres. Mineralization remains open at depth and to the west while the main shoot has demonstrated the presence of high gold and silver grades with the potential for significant additional mineralization and tonnage. According to First Majestic their plans for Ermitaño West in 2018 include 20,000 metres of drilling to define a resource, expand the extent of known mineralization and explore for additional veins in the area.”

First Majestic Produces 16.2M Silver Eqv. Oz in 2017 (4.1M Silver Eqv. Oz in Q4); Announces 2018 Production Outlook and Cost Guidance

Keith Neumeyer, President & CEO, stated, “Santa Elena and San Martin were the star performers in 2017. In 2018, we expect higher grades, throughputs and recoveries to improve the operations at La Encantada, La Parrilla, La Guitarra and Del Toro due to the concerted investments in exploration and development that commenced in late 2016. In addition, the acquisition of the San Dimas mine comes at a great time with all our other operations benefiting simultaneously from increased investments. As a result, the business will benefit from improved operating margins, increased cash flows and greater economies of scale into the coming quarters.”

Argonaut Gold Announces 2017 Production, Provides 2018 Guidance and Three-Year Production Outlook, Strengthens Management Team and Provides Release Date for Fourth Quarter and Year End Operational and Financial Results

Pete Dougherty, President & CEO stated: “Production of 126,704 GEOs falls within our stated 2017 guidance of between 122,000 and 130,000 GEOs. At La Colorada we exceeded our expectation of between 47,000 and 50,000 GEOs with production of 53,286 GEOs. At San Agustin, we experienced a slower than expected ramp up in the mine and slower than anticipated flow rate to the leach pad. These issues have since been resolved and mining and flow rates are now meeting plan…”

San Marco Continues to Discover High Grade Mineralization at Chunibas; Samples 6.41 % Copper and 27.3 g/t Silver

San Marco Resources Inc. announces further assay results from continuing fieldwork at Chunibas. As disclosed in the Company’s news release dated January 10th, 2018, newly discovered copper and silver mineralization at the Company’s 100% owned Chunibas property has been located over an area of approximately 1.2 kilometres of strike and at least 100 metres of width. That zone has now been extended to 1.7 kilometres of strike and up to 150 metres of width, and open in all directions.

Tonogold Resources Enters into an Option Agreement to Acquire the three gold/silver Properties in Durango, Mexico

Mark Ashley, Chief Executive Officer of Tonogold Resources, stated “As was in the case of the Lucerne Mine, the identification of this opportunity and the formalization of the present agreement are the result of a number of years of diligent review of numerous opportunities that we had identified in the sector and the subsequent formation of sound commercial strategies aimed at securing control of opportunities that have the potential to become significant and financially robust projects in the near future.”

Marlin Gold Intersects 8.42 g/t Au Over 2.37m Approximately 8m from Surface at the Colinas Target at the La Trinidad Mine

Akiba Leisman, Executive Chairman and Interim CEO states that “internal studies applying current mining costs along with column leach testing results of drill core at Colinas, indicate that mineralized material from Colinas may be suitable for processing at the La Trinidad Mine. Ideally, material from Colinas would supplement current production before we access the southern part of the high-grade HS Zone in March.”

Torex Announces Maiden Sub-Sill Mineral Reserves And Mine Plan And Updates Mineral Reserves And Resources For The ELG Mine Complex

Fred Stanford, President and CEO of Torex stated “This End-Of-Year (EOY) 2017, update of mineral reserves and resources for the ELG Mine Complex is really all about the underground discoveries at the Sub-Sill. (The mineral reserves and resources for the open pits remain largely unchanged except for depletion.) As anticipated, the Sub-Sill provides excellent near-term cash flow, and is open in at least three directions, which provides for the potential to extend that cash flow into the medium/long term.” He added – “The engineers have done an excellent job in designing a projected low CAPEX operation to manage the complexities of the ore-body geometry. We look forward to continuing the drill program as soon as possible, with the objective of adding and upgrading mineral resources, and ultimately, to profitably extend the mine life.”

Goldcorp Achieves 2017 Production and Cost Guidance; 20/20/20 Plan on Track

“Since we restructured our business during the first half of 2016 to drive a culture of accountability and sound operating principles, we have delivered consistent, predictable and low-cost gold production,” said David Garofalo, President and Chief Executive Officer of Goldcorp. “We are well underway to deliver on our 5-year plan of growing gold production and gold reserves by 20% and reducing AISC by 20% by 2021. With the most robust growth pipeline among global senior gold companies, we are making an initial investment of $100 million in our long-term portfolio ‘Beyond 20/20’. Together with an enhanced exploration budget of $125 million, the objective of Beyond 20/20 is to maximize the net asset value of our existingmines and projects by continuing to grow low-cost gold production from our growing gold reserves.”

Near-Surface, High-Grade Zinc & Lead Results Extend Mineralised Zone at Oposura

Commenting on the drilling campaign, Azure’s Managing Director, Mr Tony Rovira said, “The latest results from the Oposura East Zone continue to be encouraging, with high grade zinc and lead mineralisation being consistently intersected, confirming the continuity of the near to surface, massive sulphide mineralised horizon. While drilling initially focused on the East Zone, drilling is now being conducted concurrently in both the East and West Zones, and results continue to be regularly received.”

Torex Initiates Re-Start Of Operations At ELG Mine: Blockade At Main Access Gate Remains In Place

Fred Stanford, President and CEO of Torex stated: “The re-start of operations is an encouraging development, as is the support of so many community members and employees. The majority of employees want to return to work, and even in the face of threats of violence and sabotage from the blockaders, they have been returning to the ELG Mine Complex to assist with the re-start of the operations.” He added: “It is unclear whether these threats are a negotiating tactic or an expression of their intention. We certainly hope they are just a negotiating tactic and will not be acted upon. However, we cannot be sure.” Mr. Stanford stated further: “We thank the communities of Nuevo Balsas and Valerio Trujano, the members of the CTM union, and the employees for their public support for the mine and their continued requests for government intervention to enforce the rule of law. Although the uncertainty continues as to whether the rule of law will prevail, great courage has been demonstrated by employees and community members as they look for ways to get the operations re-started for the benefit off all.”

Mexican Gold Announces 2018 Phase 1 Exploration Program

Mexican Gold Corp. is pleased to announce its 2018 Phase 1 Exploration Program at the Las Minas property, Veracruz State, Mexico. The program will focus on resource expansion drilling to increase the initial 43-101 mineral resource estimate as well as exploration drilling to expand known mineralized zones. Additionally, field work will be carried out to identify new mineralized zones.

Wheaton Precious Metals Announces New Precious Metals Purchase Agreement With First Majestic in Conjunction With Primero’s Sale of the San Dimas Mine

Wheaton Precious Metals™ Corp. announces that its wholly owned subsidiary Wheaton Precious Metals International Ltd. has agreed to a new precious metals purchase agreement relating to the San Dimas mine, in conjunction with the proposed transaction announced today under which First Majestic Silver Corp. will acquire Primero Mining Corp. pursuant to a plan of arrangement.

Primero Extends Revolving Credit Facility in Connection With Proposed Business Combination

Primero Mining Corp. today announced that the Company has agreed to an extension of its revolving credit facility and the related guarantee provided by Wheaton Precious Metals Corp., both previously maturing on January 11, 2018, to the earlier of (i) April 30, 2018, (ii) the closing of the business combination with First Majestic Silver Corp. announced on January 12, 2018, and (iii) the seventh business day following termination of the proposed business combination.

First Majestic Silver Announces Friendly Acquisition of Primero Mining and Restructured Stream with Wheaton Precious Metals

First Majestic Silver Corp. and Primero Mining Corp. are pleased to announce that they have entered into a definitive arrangement agreement whereby First Majestic will acquire all of the issued and outstanding common shares of Primero. Under the terms of the Arrangement Agreement, all of Primero’s issued and outstanding common shares will be exchanged for First Majestic common shares on the basis of 0.03325 of a First Majestic common share for each Primero common share.

Canarc Appoints VP Exploration

Canarc Resource Corp. announces the appointment of Jacob Margolis, PhD as the Company’s Vice President Exploration, effective January 1, 2018.

Starcore Takes Important Steps Towards Acquisition of the Santa Fe Property

“We believe that moving ahead with a PEA is the next step to demonstrating value to our shareholders and a quintessential step in our due diligence process”, said Robert Eadie, CEO and President of Starcore. “Our goal is to identify the economic viability of an underground operation and the processing of material on our property.”

GoGold Reports Parral Production of 392,406 Silver Equivalent Ounces

GoGold Resources Inc. announces production for the quarter ended December 31, 2017 of 261,693 ounces of silver and 1,708 ounces of gold for 392,406 silver equivalent ounces at the Parral project, an 11% increase from the prior quarter. This past quarter has been the fifth consecutive quarter of production growth as the initiatives put in place in previous quarters continue to gain traction.

Great Panther Silver Reports Fourth Quarter And Annual 2017 Production Results And Provides 2018 Outlook

“Great Panther’s 2017 production was consistent with the previous year, however, this was a considerable achievement given the work completed to accommodate the tailings expansion and plant improvements at the Topia Mine in the first quarter of the year”, stated James Bannantine, President and CEO. “We are also pleased with the recent completion of the permitting process for the Phase II tailings storage facility at Topia. While the regulatory process took longer than we expected, our team did an outstanding job of maintaining operations by extending capacity while improving the state of the existing facility.”

Alio Gold Provides Fourth Quarter And Full-Year 2017 Production From San Francisco

“2017 was a pivotal year for the San Francisco mine as we took key steps to revitalize the mine,” said Greg McCunn, Chief Executive Officer. “With the San Francisco main pit now open across multiple mining faces and a full contract mining fleet on site, we are well positioned to deliver consistent production results this year. As our new systems and processes take hold and production levels stabilize, we will be shifting our focus to cost reduction and getting the mine running as efficiently as possible. Production and cost guidance for 2018 is expected to be announced in early February.”

Alamos Reports Fourth Quarter 2017 Production and Provides 2018 Outlook

“With record fourth quarter gold production, Alamos achieved a new annual record, producing 429,400 ounces of gold, while delivering a significant reduction in operating costs and capital spending. This translated into strong free cash flow growth from our operations,” said John A. McCluskey, President and Chief Executive Officer.


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