Day: October 30, 2018

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.”

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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.