Month: November 2018

Hecla Reports Third Quarter 2018 Results

“Our strategy is working. The EBITDA we generated despite low metals prices is a result of the improvements we made in our mines. A case in point is Casa Berardi, which is generating strong cash flow, with lower costs, higher mine throughput and an extended mine life,” said Phillips S. Baker, Jr., President and CEO. “The Nevada operations are on the same path as Casa Berardi and Greens Creek, with the development and processes which should increase throughput and make the mines more efficient. In the meantime, the higher costs in Nevada are short-term and a function of electing to produce less to avoid sterilizing newly discovered mineralization.”

Santacruz Silver Reports Third Quarter 2018 Production Results

Mr. Carlos Silva, Chief Operating Officer, stated “I am pleased to report that we are on track to reach our objective of increasing production and efficiencies at Veta Grande as indicated by our quarter over quarter results. At the same time our exploration activities are delineating a solid path forward for the development of Veta Grande into a significant silver producer. As for the Rosario Project, development work at the Membrillo Prospect is well on its way to reach the targeted mineralized area and preparation of production stopes is underway with the aim of being in full production in Q4 2018 as originally planned.”

Avino Reports Third Quarter 2018 Financial Results

“During the third quarter of this year, the Company continued with the commissioning of Mill Circuit 4, which represents a significant commitment to future expansion in Mexico. While our financial results were impacted due to a lower metal price environment, we feel that the Company is well-positioned for the future. In view of the current environment, our focus for Q3 2018 and moving into Q4 2018 has shifted from increasing production, to preserving our operating margins, through previously-announced cost-reduction programs” said David Wolfin, President and CEO. “Our focus moving forward will be to maintain stable operations which will include a temporary reduction of development at the Avino Mine (Elena Tolosa area) which means that the mining rate will decrease, however the mill production will be stable for the rest of the quarter. In the meantime, we will continue to optimize operations and evaluate other areas of the vast Avino property.”

Tamino Minerals Starts Exploration Program and Financing Update

Tamino Minerals is actively working with its geologists to start the exploration program on 2 of our Mining Exploration Projects. The programs are expected to begin during Q3 2018 and last approximately 6 months. The Exploration Program will include Geological Mapping, Trenching, Soil Geochemistry, IP Survey and ultimately drilling. The company will also make sure roads are improved and the creation of local jobs to support the local economy. The company will provide updates throughout the exploration of both projects. Tamino Minerals, Inc. is a Montreal-based mining exploration company committed to deliver value to its shareholders by acquiring, developing and mining precious metals deposits in Mexico.

First Majestic Reports Third Quarter Financial Results

“During the third quarter, we delivered record silver production resulting in higher revenues and cash flows compared to the previous quarter even when we experienced a nine year low in average quarterly silver prices,” stated Keith Neumeyer, President and CEO of First Majestic. “Consolidated cash costs and AISC decreased nicely to $6.85 and $15.12, respectively, due to improved economies of scale and higher production from San Dimas. Cost cutting efforts remain a focus of the Company by reducing capital investments at our smaller mines, innovation projects, layoffs and overall curtailment of spending.”

Premier Gold Mines Reports 2018 Third Quarter Results

“Improved operating performance at Mercedes during the third quarter combined with continued outperformance at South Arturo puts us on track to meet 2018 annual consolidated gold production guidance” stated Ewan Downie, President and CEO of Premier. “Our strong cash position will continue to fund near-term development, including the construction of two new mining centers at South Arturo and the Cove Gold Project in Nevada”.

Pan American Silver Reports Cash from Operating Activities of $41.7 million in Q3 2018

“We continue to generate strong cash flow, which increased our cash and short-term investment balance at the end of the quarter to $252.7 million, despite realizing the lowest metal prices of the year,” said Michael Steinmann, President and Chief Executive Officer of the Company. “The depressed metal prices had a significant impact on both settlement adjustments on concentrate shipments and NRV inventory adjustments, which together reduced earnings in the quarter by approximately $33.2 million.”

Advance Reports On 7th Hole of Drilling At Tabasquena Project in Mexico

Allan Barry Laboucan, President and CEO of Advance Gold Corp. commented: “Now that we have a handle on the size potential, we need to get a better understanding of the system with a view to locating the precious metal horizon. To date, we have hit anomalous to high-grade gold, and there was historical mining of silver by Penoles in the oxide zone of the Tabasquena vein. It is typical for precious metals to base metal zonation in these systems.”

Trafigura Commits 2nd Loan Tranche US$5 Million to Telson’s Tahuehueto Mine Construction

Antonio Berlanga, CEO, states “Telson has now received its second Trafigura loan funding tranche in the amount of US $5 million, which funds when combined with our recently closed C$6.8 million private placement funding, exceeds US$10 million. We are now almost fully funded to complete the mine construction at Tahuehueto and are targeting a mine start-up during Q1 2019.An additional US $2.5 million third tranche is available under the Offtake Loan Agreement should additional funding be required however, we anticipate that pre-production concentrate sales proceeds will forego the need for Telson to draw down that third tranche.We would like to thank Trafigura for its continuing support and look forward to providing shareholders construction updates in the coming months.”

Golden Goliath – Uruachic Option Exercised

Golden Goliath Resources Ltd. is pleased to announce that Desarrollos Mineros El Aguila, S.A. de C.V. a wholly owned subsidiary of Fresnillo plc, has exercised the option agreement for the properties optioned to them by the Company in the Uruachic Mining District in the State of Chihuahua, Mexico.

San Marco Announces Drilling Has Commenced at the Chunibas Cu-Ag Project

San Marco CEO Christian Grijalva stated: “We’re very pleased to announce the start of a maiden drilling program at our Chunibas property. Chunibas represents a typical volcanic-hosted copper-silver stratiform system which was previously unexplored. This kind of mineralization was also previously unknown to Mexico and represents a very unique exploration endeavour. The drilling campaign will target higher-grade areas to confirm down-dip and strike extensions.”

Minera Saucito trabajará la planta tratadora poniente

Autoridades municipales realizaron la entrega de la planta tratadora de aguas residuales poniente a la empresa Minera Saucito que ganó la licitación para la operación de las instalaciones. De esta manera, el Sistema de Agua Potable, Alcantarillado y Saneamiento de Fresnillo (Siapasf), se ahorrará unos 7 millones 85 mil 859 pesos anuales de los costos por la operación de la planta.

Hecla Reports Continued Drilling Success in the Third Quarter

“With the addition of the Nevada assets, Hecla had the largest quarterly exploration program in its history,” said Phillips S. Baker, Jr., President and CEO. “While exploration expense will be less in the fourth quarter, it is not for lack of good results. All of Hecla’s programs this year had success that will justify follow-up in the future. But our focus in the fourth quarter will be at our Nevada operations and San Sebastian as we work towards the sort of mine life that we have at Greens Creek and Casa Berardi.”

Defiance Silver and Valoro Resources Sign Definitive Merger Agreement

The Transaction has the unanimous support of both companies’ Boards of Directors and Officers and will create a leading Mexico focused explorer with an advanced portfolio of silver and gold projects. The combined company will continue under the name of Defiance Silver Corp.

IMPACT Silver Announces Financing of up to $1.5 Million

The Company intends to use the proceeds of the Private Placement to explore the Zacualpan land package for additional high potential precious metals as well as gold-copper targets, to improve efficiencies at the Guadalupe production mill, and for general working capital purposes.

Auxico Closes Private Placement

Auxico Resources Canada Inc. is pleased to announce that it has completed a non-brokered private placement of 1,575,000 units, issued at a price of $0.20 per Unit, for gross proceeds of $315,000.

Kootenay Drill Program Outlines Resource Upside Along Extensions of the La Cigarra Resource

The Company has designed a drill program aimed at the dual purpose of resource expansion along the immediate extensions of the La Cigarra deposit and at outlining the scope of that potential. There are four target areas identified where the Company believes there is untested potential to increase the Resource by significant amounts. The plan would entail primarily exploration step out drilling of known mineralization and some infill drilling of the successful La Borracha program earlier this year.

U. S. Antimony Reports Progress On Leach Plant For Los Juarez Gold Silver Antimony Property In Mexico

United States Antimony Corporation reported that most of the equipment for the Puerto Blanco leach plant has been built in Montana and is ready to transport. Projects remaining include finishing the tailings pond, wiring, plumbing and completing the building. Hopefully, testing should begin at the end of this year. The Los Juarez gold, silver, and antimony property is regarded as potentially the largest corporate asset and has been on hold due to metallurgical and permitting delays.

New Gold Announces Management Change Appoints Robert J. Chausse as Chief Financial Officer

New Gold Inc. announces the appointment of Robert J. Chausse as Executive Vice President and Chief Financial Officer, effective immediately. Rob brings with him more than 25 years of international finance experience, exclusively in the mining sector, which will enhance the collective expertise of the leadership team as we reposition New Gold as a leading, Canadian-focused intermediate producer. The Company also announces the departure of Paula Myson, Executive Vice President and Chief Financial Officer.

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