Month: November 2018

Aura Minerals Files Third Quarter 2018 Financial and Operational Results

The Company’s producing assets include the San Andres gold mine in Honduras, the Ernesto/Pau-a-Pique gold mine. in Brazil and the Aranzazu copper-gold-silver mine in Mexico. The Company has completed an exploration program at its Sao Francisco gold mine in Brazil to determine if a re-start of the mine is feasible. In addition, the Company has two additional gold projects in Brazil, Almas and Matupá, and one gold project in Colombia, Tolda Fria.

Prize Mining Reports First Results From Diamond Drilling and Continued Surface Sampling at the Manto Negro Copper Project

“The first holes at Manto Negro are giving us a good sense of the style and continuity of copper-silver mineralization”, stated Michael McPhie, President & CEO of Prize Mining. “Unlike porphyry copper deposits that have a strong vertical component, the stratabound nature of the deposits at Manto Negro gives them a tremendous lateral extent. The two areas being drilled are 18 kilometres apart and, at the Pilar Grande area, we can now trace the mineralization intermittently for about four kilometres. The grades and thicknesses we are seeing are consistent with those from the world class Kupferschiefer deposits in Europe.”

Pan American Silver and Tahoe Resources Create the World’s Premier Silver Mining Company

Commenting on the transaction, Michael Steinmann, President and Chief Executive Officer of Pan American Silver, said: “The combination of Pan American and Tahoe will establish the world’s premier silver mining company with an industry-leading portfolio of assets, superior growth opportunities and attractive operating margins. This transaction doubles our silver reserves and further improves our cost profile. We will build on that strong foundation, optimizing these high-quality assets to deliver profitable growth and superior returns.”

Galore Announces Results of its Annual General Meeting and the Grant of Stock Options

Galore Resources Inc. is pleased to report that at the Annual and Special General Meeting of its shareholders held November 8, 2018, the Company experienced a very strong turnout of votes. A total of 43 votes were received, representing 68,454,243 shares or 55.86% of the Company’s issued share capital. All resolutions proposed and voted on at the meeting were approved and duly passed.

McEwen details offering of up to US$90 million

McEwen Mining Inc. has entered into an equity distribution deal with a group of underwriters in connection with a common share offering that could raise up to US$90 million, the company said. McEwen said the agreement, dated November 8, is with an underwriting group that includes UBS Securities, LLC, BMO Capital Markets Corp., Cantor Fitzgerald & Co., Roth Capital Partners LLC, Wainwright & Co., LLC and Alliance Global Partners.

Sonoro Grants 1,050,000 Incentive Stock Options

Sonoro Metals Corp., has granted, under its Share Option Plan, incentive stock options to certain directors, officers and consultants of the Company to purchase an aggregate of 1,050,000 common shares exercisable for a period of up to two years from the date of grant at a price of $0.16 per share. This grant is subject to acceptance for filing by the TSX Venture Exchange. Further, a portion of the grant is subject to disinterested shareholder approval and such options will not be exercisable until the requisite shareholder approval has been obtained.

Odyssey Marine Exploration Reports Third Quarter 2018 Results

“I’ve never been more optimistic about the long-term future of Odyssey. Cash on hand, combined with expected revenues and profit sharing from contract work on multiple projects currently underway and forecast to continue for at least another 12 months, provides us the runway necessary to fully execute our strategic plan to become a dominant force in the emerging seafloor minerals space,” stated Mark Gordon, President and CEO of Odyssey Marine Exploration. “We remain confident that the issues with the environmental permit for the Mexican phosphate deposit controlled by ExO will be resolved favorably in the near term. This resource has the strong potential to propel many of the new incoming Administration’s key objectives and plans to positively transform the economy and food security for the benefit of the Mexican people. Success with this project collaterally increases the value of the rest of our portfolio of seafloor mineral projects.

SilverCrest Appoints Pierre Beaudoin as COO

N. Eric Fier, CPG, P.Eng, and CEO, remarked, “With our continued success at Las Chispas, we are excited to add the necessary people and skill sets to complement our highly experienced and dedicated team. We welcome Pierre’s contribution as we move towards breaking ground on the new decline into the Area 51 zone (Babicanora Vein). Also, Pierre will be supervising preparation of the Preliminary Economic Assessment, targeted for completion in Q1 of 2019. This will allow our exploration team to focus on the ongoing expansion and infill drilling program for an updated resource estimate and resource re-categorization. We are excited to have Pierre join the team as COO to help manage this critical period of development for the Company and we also thank him for his contributions at the board level.”

Las mineras más grandes del mundo incorporan vehículos eléctricos

“Lograr que las minas estén completamente libres de diésel es nuestro objetivo final”, dijo Andrew Draffin, gerente de proyectos de Voltra, un proveedor que ha proporcionado a BHP modelos Toyota LandCruiser adaptados y equipados con un motor eléctrico y baterías de iones de litio. “Comenzamos con vehículos livianos porque es lo más fácil para las empresas probar el concepto eléctrico”.

Mag Silver Reports Third Quarter Financial Results

George Paspalas, President and CEO, commented, “We continue to enjoy watching the consistent advancement of the Juanicipio project. I encourage our shareholders to visit our website to view pictures of the ongoing development. The current drill program to flesh out the Valdecañas Deep Zone has been completed and we are starting to work through the results. As always, the joint venture continues to focus on exploring the balance of the property where many highly prospective targets still remain to be drilled. It is worth remembering that the joint venture has only worked on a very small area of the property.”

Radius Gold completes initial drilling at the Amalia and Coyote Gold Projects

Radius’s high-grade gold-silver Amalia Project is located in Chihuahua, Mexico. A nine hole, 1909m diamond drill program has been completed by Radius and funded by Pan American Silver under a joint venture agreement. Four different target zones (Campamento, Guadalupe, San Pedro and Dulces) were tested across a strike length of 1.8km following the trace of a large regional fault and associated surficial epithermal gold and silver mineralization. Mineralized intervals from each hole have been sampled and submitted for analysis. Results are pending and will be reported once complete.

Sierra Metals Reports Consolidated Financial Results Including $18.1 Million of Operating Cash Flows Before Movements in Working Capital for the Third Quarter of 2018

Igor Gonzales, President, and CEO of Sierra Metals stated: “I am very pleased with the Company’s performance during Q3 2018. Despite weaker realized metal prices, and harsh weather events at the Bolivar Mine, the Company generated positive cash flow at its three operating mines of $18 million, and our production results were solid. We continue building upon the strong results from the first half of the year. The Company also realized positive returns on our capital investments and our operational improvement efforts at all our Mines. This is best demonstrated through our improving operating performance, strengthening of our asset base, significantly lower cash costs and all-in sustaining costs, strong cash flow year to date as well as increases to the mineral reserves and resources at each of our Mines.”

SilverCrest Announces Stock Option Grant

SilverCrest Metals Inc. announces the grant of stock options under its Stock Option Plan to purchase an aggregate of 100,000 common shares of the Company at an exercise price of $3.41 per share for a five-year term expiring November 11, 2023. The stock options were granted to the Company’s newly appointed director, Hannes Portmann, and are subject to necessary regulatory approvals.

Golden Reign Resources and Marlin Gold Mining Complete Business Combination to Form Mako Mining Corp.

“As a result of the Arrangement, shareholders of Mako Mining will benefit from the producing La Trinidad Gold Mine in Mexico, cash in the bank and no debt, and an unencumbered, fully permitted, high grade gold development asset in Northern Nicaragua” stated Kevin Bullock, CEO of Mako Mining. He went on to say “having now amended the previous Gold Purchase Agreement with Sailfish, Mako Mining shareholders will also benefit from building a fully permitted, unencumbered asset with security and provisions commensurate with a standard, third-party NSR agreement.”

Sonoro Announces Cerro Caliche Initial Drill Results

“The initial results from this first phase of drilling at Cerro Caliche support the veracity of drilling conducted by prior operators within the project area and most notably the work done by Corex,” said Kenneth MacLeod, President and CEO of Sonoro. “The drilling has further confirmed that mineralization in the Los Japoneses zone remains open in all directions, including at depth.”

Fortuna reports consolidated financial results for the third quarter 2018

Jorge A. Ganoza, President and CEO, commented, “We have delivered a solid quarter in spite of a 12% and 5% decrease in silver and gold prices, respectively, in the third quarter, with earnings per share of $0.04, EBITDA of $24.2 million, and free cash flow, excluding Lindero construction costs, of $13.6 million.” Mr. Ganoza concluded, “The rate of spending at Lindero continues to increase as construction activities accelerate towards year end. It is estimated that a total of between $110 million to $130 million will be spent in 2018. Construction activities are progressing according to the project´s schedule with commercial production planned for the end of the third quarter of 2019.”

SSR Mining Reports Third Quarter 2018 Results

Paul Benson, President and CEO said, “Our improved financial performance during the quarter marks another positive step forward in SSR Mining’s growth plan. We more than doubled operating cash flow and increased attributable earnings compared to last quarter, having set new operating records at Marigold and Seabee, and achieved key milestones at Chinchillas. This added confidence in the business led to improved 2018 guidance, as we deliver another year of value and growth for our shareholders.”

Discovery Metals Completes 40 Line-Km Ground Based Magnetometer Survey at its Monclova Project

Taj Singh, P.Eng, President and CEO, stated, “Initial results from our Monclova mapping and sampling program were very encouraging and showed strong and consistent grades at several targets. The Real Viejo target specifically, hosts robust Ag-Pb-Zn grades and has been traced at surface as a 1,500m long by 2-10m thick mineralized and altered zone at the limestone-intrusive contact. The current geophysical survey is the first-ever modern approach to the evaluation of mineralization at the Project and will assist our drill planning process. We estimate commencement of our Phase 1 drilling program at Monclova in Q1 2019.”

Alexander Mining Up As HyperLeach Technology Gets European Patent

Chief Executive Martin Rosser said: “The technology described in the patent has significant potential application in each of Germany, Poland and Turkey, both for sulphide deposits and for converting sulphide concentrates, the source of the majority of the world’s base metals production and resources, through to metal at the mine site.”

Alio Gold Reports Third Quarter 2018 Results

Loss for the Company was $3.7 million, or $(0.04) per share, compared to net earnings of $5.2 million, or $0.12 per share, during Q3 2017. The decrease was primarily a result of lower earnings from operations and an impairment of the El Sauzal plant.

Torex Announces Q3 2018 Results With Record Gold Production

“This was an excellent quarter with record gold production of over 100,000 ounces as the Company successfully continues toward full ramp-up. Grades processed were above LOM average, recoveries above design, and plant throughput is ramping toward design levels by year end. In October, throughput averaged above 13,300 t/d, inclusive of two maintenance days to replace the liners in the ball mill.

Capstone Mining Streamlines Management Structure

Capstone Mining Corp. today made reductions to its organizational structure, including changes to its senior executive team. This is designed to improve financial and operating performance by further empowering mine general managers and their teams to deliver profitable, safe and sustainable production within their respective business units.

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