Month: February 2018

Torex Gold Resources Inc. is pleased to announce that it has closed its previously announced offering of common shares of the Company with a syndicate of underwriters led by BMO Capital Markets. An aggregate of 4,895,000 Common Shares were issued by the Company at a price per Common Share of C$12.60, including 525,000 Common Shares issued on the partial exercise of the over-allotment option, for aggregate gross proceeds of C$61,677,000.

Bradford Cooke, CEO of Endeavour, stated, “We enjoyed solid development and exploration success in 2017, more than replacing our Mineral Reserves and growing our silver Mineral Resources. We also published a Pre-Feasibility Study for Terronera, a Preliminary Economic Assessment for El Compas, and an initial silver Mineral Resource Estimate for the new Parral Properties. The substantial growth of our Mineral Reserves and Mineral Resources is a testament to our exploration and acquisition teams. We now have a strong pipeline of exploration and development projects to drive our next phase of organic growth.”

“It is a remarkable achievement for a 127-year-old company to have record reserves for three of the four metals it produces, particularly using price assumptions significantly below spot and among the lowest in the industry. It speaks to the quality of our properties and the expertise of our people. We believe that our investment in exploration is a key step towards generating real value for shareholders. As we grow our reserves and increase our already long mine lives, we can improve productivity by increasing throughput or lowering costs so the mines can generate returns regardless of the metals price,” said Phillips S. Baker, Jr., Hecla’s President and CEO. “In addition to reserve growth, we are increasing the San Sebastian polymetallic resource which is quickly becoming an important part of the future of this mine. Our exploration budget is increasing again this year, because we have more exploration opportunities at our operating properties and beyond than any time in my tenure at Hecla.”

Dan O’Flaherty, President and CEO of Maverix commented, “We are pleased with the significant growth that the Company demonstrated during the fourth quarter and are proud of our first full year of operation. Our operating partners continue to deliver excellent results at their underlying mines, which was reflected in our strong and growing attributable gold production. We expect further growth in our attributable production in 2018 from our current asset base and look forward to building on our 2017 achievements as we continue to grow our royalty and streaming portfolio.”

“Eduardo and Jessica are highly accomplished leaders whose depth and diversity of experience will be strong additions to our Board,” said Robert E. Mellor, Coeur’s Chairman of the Board. “Eduardo brings with him over forty years of experience in hard rock mining, including a successful track record of developing and operating mines throughout Mexico. Jessica’s equally impressive background in Canadian government affairs and leadership is also expected to complement the skills of our other directors and provide valuable insights as Coeur commences production at the Silvertip mine in British Columbia.”