Month: October 2018

Great Panther Silver Reports Third Quarter 2018 Financial Results

“Our revenues for the third quarter of 2018 were down compared to the same quarter last year due primarily to lower metal prices, lower production levels, and a large shipment of concentrate which could not be shipped until just after the end of quarter cut-off”, stated Jim Bannantine, President and CEO. “These factors combined with higher cash costs at our Guanajuato Mine Complex in Mexico, higher corporate development costs, and the ramp up of Coricancha project costs, which we are expensing as opposed to capitalizing, accounted for a loss per share of $0.02 in the third quarter. Despite the current metal price environment, we are using our strong balance sheet to set a foundation for growth in 2019 by advancing our Coricancha project and advancing the close of the recently announced friendly acquisition of Beadell Resources Limited. These strategic initiatives represent transformational changes which will see Great Panther evolve into a leading emerging intermediate and growth-oriented Latin American focused precious metals producer.”

Sailfish Royalty Shareholders Approve Stream Restructuring

Sailfish Royalty Corp. is pleased to announce that, at the annual and special meeting of shareholders of the Company held on October 30, 2018, shareholders of Sailfish voted in favor of the restructuring of the Company’s gold stream on the San Albino gold project. Shareholders also approved all of the other matters brought before the Meeting.

Marlin Gold Shareholders Approve Plan of Arrangement with Golden Reign Resources Ltd.

Marlin Gold Mining Ltd. is pleased to announce that at the special meeting of shareholders of the Company held on October 30, 2018, shareholders of Marlin voted in favour of a special resolution to approve the plan of arrangement and certain connected transactions, pursuant to which Golden Reign Resources Ltd. will acquire all of the issued and outstanding shares of Marlin in exchange for 0.5138 of a Golden Reign common share for each Marlin Share by way of a court-approved plan of arrangement .

Endeavour Silver Reports Third Quarter, 2018 Financial Results; Conference Call at 10 am PT (1 pm ET) Today

Bradford Cooke, Endeavour CEO, commented, “Our financial performance in Q3, 2018 was impacted by lower metal prices and higher depreciation and depletion charges, primarily at Guanacevi where production lagged behind plan. However, El Cubo production continued its strong performance during the quarter and Bolanitos gold grades are now improving after a slight drop in Q3, 2018.

Golden Minerals Identifies High-Grade Gold and Silver Veins at Yoquivo

“Our progress to date in defining high-grade veins outcropping at surface at Yoquivo is excellent. We expect to continue with the surface work in preparation for identifying the best drill targets, which we plan to test in a drill program in 2019. The discovery of additional untested veins on the property is promising. We believe the Yoquivo district is emerging as a very interesting exploration play in this well-mineralized portion of the Sierra Madre,” states Warren Rehn, President and Chief Executive Officer of Golden Minerals.

Centerra Gold Records Third Quarter 2018 Net Earnings of $6 million; Increases 2018 Gold Production Guidance Range to 665,000 to 705,000 ounces and Lowers Cost Guidance Range to $782 to $829 per ounce sold

Centerra Gold Inc. today reported net earnings of $6 million or $0.02 per common share on revenues of $259.1 million in the third quarter of 2018. The third quarter 2018 results include an impairment charge of $8.5 million to write-down the net assets of the Company’s Mongolian business unit to their sale value which closed on October 11, 2018. Excluding this item, adjusted earnings in the third quarter of 2018 were $14.5 million or $0.05 per common share.

Evrim signs three-year exploration alliance in the western United States

Evrim Resources Corp. is pleased to announce it has signed a three-year exploration alliance agreement with Meridian Gold Co., a wholly-owned subsidiary of Yamana Gold Inc. The Alliance allows Evrim royalty free access to Yamana’s dataset in the western United States for gold and base metal project generation.

Silver Bull Resources Announces 5.35 Billion Pounds Zinc, 87.4 Million Ounces Silver In Updated Sierra Mojada Measured And Indicated Resource:

“This resource update models the mineralization defined at Sierra Mojada to zinc and silver prices realistic of the current market conditions”, stated Tim Barry, President, CEO and director of Silver Bull. “Sierra Mojada is one of only a handful of projects with any appreciable zinc resources and is one of the largest undeveloped silver-zinc projects in Mexico. It has excellent infrastructure; it is located 3 hours from an international airport with a paved road right to site; it has a functioning railway right to site; runs on grid power; and it has a skilled mining work force to draw upon in the immediate local area. This resource provides excellent leverage to both zinc and silver prices and has the potential to be scaled in size depending on metal prices.”

Telson Signs a Renewable Power Purchase Agreement

“The renewable power purchase agreement with Energia Solar provides Telson with a steady supply of renewable source generated power at an inflation-indexed fixed price that will significantly reduce environmental footprint and reduce operating costs and future profitability. Additionally, this agreement satisfies local regulations that require Campo Morado mine to use a minimum of 25% green generated energy.” states Antonio Berlanga, CEO. “It is also a significant step forward for Telson to do its part in the world-wide battle against global warming”

Coeur Reports Third Quarter 2018 Results

“Third quarter results were impacted by weak metals prices and temporarily lower production at our Palmarejo and Wharf mines due to one-time events. Our Rochester operation was the standout performer with strong production growth and further cost reductions. In addition, the team at Rochester has commenced work on the installation of the first HPGR crusher, which is expected to boost silver recoveries and further reduce costs starting next year,” said Mitchell J. Krebs, Coeur’s President and Chief Executive Officer. “Importantly, we remain on-track to achieve full-year production and cost guidance due to strong expected fourth quarter performance at each of our operations, which we experienced during the month of October.”

Capstone Mining Third Quarter 2018 Financial Results

“Our mines performed as expected in the third quarter and we have seen an upward trend in production as we move through 2018,” said Darren Pylot, President and CEO of Capstone. “Year to date, we have generated $76.9 million of cash flow from operating activities and net income from continuing operations of $22.6 million.”

McEwen Mining Reports Q3 2018 Results

McEwen Mining Inc. today reported third quarter results for the period ended Sept. 30, 2018. During Q3, gold equivalent ounces produced increased by 51% and all-in sustaining costs per GEO sold decreased by 3% compared to Q3 2017. Net cash flow from the business excluding project development costs was $2.2 million or $0.01 per share. Total expenditure of $35.5 million was incurred to further our long-term production growth plans at the Gold Bar, Black Fox, Fenix and Los Azules projects. Our consolidated net loss for Q3 was $13.3 million or $0.04 per share.

Colibri Resource Corporation to Acquire Yaque Minerales From OnTop Capital Limited

Colibri Chief Operating Officer Ian McGavney said “There is limited downside risk for the shareholders in this proposed transaction. The deal structure allows Colibri to secure these properties for the next 5 years using little cash resources which allows monies to be used for exploration activities. We see the conversion price of the convertible debenture as very positive considering the current share price level.”

Sonoro Closes $500,000 Private Placement Financing

“We experienced very strong demand for the Financing and are pleased that our investors are very supportive of our focus on the exploration programs in Mexico,” said Kenneth MacLeod, President and CEO of Sonoro. “Proceeds from the Financing will be applied toward future exploration programs at Cerro Caliche should results from the recently initiated drilling program support such an action.”

Aura Minerals Announces Resumption of Operations at San Andres Mine

Rodrigo Barbosa, the Company’s President and CEO commented, “We were committed to a peaceful resolution of this matter and we are very pleased a resolution was reached in a respectful and peaceful manner. We are cautiously optimistic that all parties will abide by the terms negotiated and that operations at the San Andres mine will continue uninterrupted by further invasions. We are grateful to the local communities that supported us in reaching this resolution and are pleased that the hundreds of direct jobs and thousands of indirect jobs will return now that we are back operating.”

Excellon Adds Additional 31,000 Hectares on Northern Fresnillo Silver Trend

“We’re excited to start working on the Evolución concession, which is the product of extensive preparation over the past year,” stated Ben Pullinger, SVP Geology. “Looking under cover for blind deposits is the evolution of exploration in Mexico, with Hecla’s San Sebastian deposit illustrating this potential just north of us. We will shortly commence a regional mapping and geochemical program to develop exploration zones and drill targets.”

CZL to move to 90% ownership of Plomosas Mine

CZL CEO Brad Marwood said, “This is an exceptional opportunity for CZL to increase value for shareholders and is by far the best opportunity identified to increase production of zinc, lead and silver in the near term. We continue to execute our plan to rapidly grow CZL into a mid-tier zinc producer, and we will be ramping up production at Plomosas over the coming months to build on this plan.”

Advance Hits Over 30 Epithermal Vein Intersections

Allan Barry Laboucan, President and CEO of Advance Gold Corp. commented: We have moved the Tabasquena project forward significantly in our first 7 holes finding a cluster of over 30 epithermal vein intersections. Not far from us if Fresnillo, Mexico, and right beside the city is a cluster of approximately 20 epithermal veins that were mined for over 500 years. We are in one of the most important silver and gold districts in the world and have founda cluster of epithermal veins in a small area.

Goldcorp Named as Recipient of Canada’s Clean Growth Program Funding

“We believe the days of diesel use for underground mining equipment are numbered and electrification of our mobile fleet is a logical way to significantly reduce the mine’s environmental footprint,” said David Garofalo, Goldcorp’s President and CEO. “We are partnering with like-minded technology suppliers like Maclean Engineering and Sandvik, provincial and federal governments and First Nations to commercialize clean technologies, improve health and safety performance, and reduce GHG emissions with the aim of improving the viability, sustainability and profitability of our mines. It’s gratifying to see multiple levels of government support innovation and our vision of a safer, greener mining industry.”

Southern Silver Extends High-Grade Mineralization in North Skarn Target with an 3.4m Intercept of 191g/t Ag, 0.9% Cu, 3.7% Pb and 9.4% Zn (747g/t AgEq; 21.1% ZnEq)

Southern Silver Exploration Corp. reported today that four additional drill holes have now been completed on the North Skarn Target as part of the 12,000 metre core hole program at Cerro Las Minitas which successfully extended shallow Skarn Front mineralization laterally from the historic Santo Nino mine and identified several new mineralized intercepts that may form extensions of the El Sol deposit.

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