Month: July 2018

Capstone Mining Second Quarter 2018 Financial Results

“We generated $28.8 million of cash flow from operating activities in the second quarter, net income from continuing operations of $8.2 million and operational performance ended the second quarter within our guided range,” said Darren Pylot, President and CEO of Capstone. “Moving forward, we expect that various optimization activities underway at Pinto Valley will result in increased productivity and lower costs,” continued Mr. Pylot. “At Cozamin, we are very optimistic that the updated Mineral Resource estimate that we released in the second quarter will pave the way for an extension of operations and creates the potential for a mine expansion.”

VVC Exploration – New Private Placement Financings – Correction

VVC Exploration Corporation (TSX-V:VVC) announces a new CA$1.5 million non-brokered equity private placement financing. This placement is for units of the Company at a price of $0.05 per Unit, whereby each Unit consists of one common share and one-half of one common share purchase warrant of the Company. Each full Warrant entitles the holder to purchase one additional common share of the Company for a period of three years, at an exercise price of CA$0.06 per share. The Company has raised to-date about CA$1,150,000 and expects to complete the remaining 350,000 in August.

Golden Reign And Marlin Gold Provide Update Regarding Proposed Business Combination

The parties have been diligently working towards settling all structuring and definitive documentation, including a revised stream arrangement to be entered on closing having the equivalent effect of a net smelter royalty on the area of interest and surrounding areas, in connection with completing the proposed business combination. As previously announced, the proposed business combination will be completed by way of a plan of arrangement under which Golden Reign will acquire all of the issued and outstanding shares of Marlin following completion of a corporate reorganization being undertaken by Marlin. Upon completion of the proposed transactions, it is expected that the current shareholders and option holders of Marlin will own in aggregate approximately 45% of the shares of Golden Reign (after the distribution of the Golden Reign shares already owned by Marlin to certain of its shareholders) and current non-Marlin Golden Reign shareholders will own approximately 55% of the shares.

McEwen Mining Reports Q2 2018 Results

McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) today reported second quarter results for the period ended June 30, 2018. During Q2, gold equivalent ounces produced increased by 45% and all-in sustaining costs per ounce decreased by 2% compared to Q2 2017. Net cash flow from the business excluding project development costs was $6.3 million or $0.02 per share. A total investment of $26.3 million was made to further our long-term production growth plans at the Gold Bar, Black Fox, El Gallo Fenix and Los Azules projects. As a result, our consolidated net loss for Q2 was $5.4 million, or $0.02 per share.

Equinox Gold Announces Final Court Approval of the Arrangement for the Solaris Copper Spinout

Equinox Gold Corp. is pleased to announce that it has obtained a final order from the Supreme Court of British Columbia dated July 30, 2018 to implement the Company’s previously announced plan of arrangement to reorganize its business, including the spin-off of its wholly-owned subsidiary, Solaris Copper Inc. Substantially all of the terms and conditions of the Transaction have been met, including shareholder approval of the Transaction on July 26, 2018.

Starcore Reports Year End 2018 Results

“The recent release of our 43-101 updating resources to over 267,306 AuEq ounces and 3.1 million tonnes of ore coupled with the improved production in recent months from both the mine and Altiplano represent a turning point for the Company” reported Robert Eadie, President of the company. “We have a renewed optimism and look forward to advancing our operating results.”

Goldplay announces DTC eligibility

Goldplay Exploration Ltd. is pleased to announce that the Company has secured eligibility by The Depository Trust Company for its shares on the OTCQB. DTC is a subsidiary of the Depository Trust & Clearing Corp. that manages the electronic clearing and settlement of publicly traded companies in the United States. DTC eligibility will simplify the process of trading and is expected to enhance liquidity of the Company’s common shares on the OTC marketplace where Goldplay Exploration Ltd. now trades under the symbol “GLYXF”.

Excellon Reports Second Quarter 2018 Financial Results

“We saw strong improvements in all areas of operational and financial performance during the second quarter,” stated Brendan Cahill, President and CEO. “Most importantly, we realized AISC per silver ounce payable of less than $10, greatly improved cash flow and added cash to our balance sheet while internally funding exploration programs on both of our projects. During the second half of the year, we’re looking forward to increasing exploration, increasing cash flow through our milling arrangement with Hecla and continuing to implement operational improvements at Platosa.”

Radius Gold and Pan American Silver to explore Amalia Project, Mexico

Radius has granted to Pan American the option to earn up to an initial 65% interest in the Amalia Project by making cash payments to Radius totaling US$1.5 million (of which US$100,000 has been received) and expending US$2 million on exploration over four years. Pan American may earn an additional 10% by advancing the property to preliminary feasibility. Initially Radius will be the project operator.

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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.