Following the retirement of the Companys executive directors, Jim Williams and Tony Williams in May 2018, and the appointment of Dennis Edmonds as Executive Chairman, the Company has benefited from fresh leadership, a new perspective, and the financial support of experienced mining professionals through the injection of additional cash resources in May 2018.
Tim Barry, Silver Bull President and CEO, stated, “As announced by the Company on June 4, 2018, the Company granted South32 Limited (ASX/JSE/LSE: S32) an option to form a 70/30 joint venture with respect to its Sierra Mojada Project. Upon the closing of the Private Placement, the Company expects to be fully funded for the initial four year option period under the option agreement, provided that South32 maintains the option in good standing by advancing the requisite funding pursuant to the terms of the option agreement.”
Thomas A. Doyle, President, CEO, stated “We feel very fortunate that this land came open and our application was accepted in an area that is very competitive. This concession was the only land in the immediate area that has not been staked and claimed. We now share borders with Alamos Gold Inc to the north, east, south, and Agnico Eagle Mines Limited to the west.”
We are very pleased to have closed this transaction with MAG Silver, and further expand our presence in the Zacatecas Silver District, stated Peter J. Hawley, President and CEO. With significant exploration potential at the San Acacio project, we look forward to continuing our examination and interpretation of the large regional exploration database.
Geologix Explorations Inc. (TSX-V: GIX) announces that, effective at the market opening on Thursday, June 28, 2018, Geologix will change its name to ValOro Resources Inc. and its common shares will commence trading on the TSX Venture Exchange using the new symbol VRO on a consolidated basis of one new share for ten existing shares. The share consolidation was approved at the Company’s Special Meeting of Shareholders held on June 21, 2018 with 85.3% of the votes cast in favour. In connection with these changes, Letters of Transmittal will be mailed to shareholders providing instructions on the exchange of Geologix share certificates for post-consolidated ValOro share certificates.
Harvest Gold Corporation (TSX.V: HVG) is pleased to announce that, further to its news release of June 8, 2018, it has closed a second tranche of its non?brokered private placement issuing an additional 2,992,000 units at a price of $0.05 per Unit, raising additional gross proceeds of CDN$149,600 for a total of CDN$479,600 gross proceeds raised to this point in the Private Placement. Each Unit consists of one common share and one transferable common share purchase warrant exercisable at $0.10 per share for a period of two years.
At the Meeting, all director nominees listed in the Companys management information circular dated May 10, 2018, were elected as directors of the Company.
Aura Silver Resources (TSX-V:AUU) announces that it intends to extend the expiry date of 3,500,000 warrants from July 9, 2018 to July 9, 2020. These warrants are held by arms length investors and were originally issued in a non-brokered private placement that closed on July 9, 2015. The exercise price of these warrants remains unchanged at $0.05.
In response to commitments from several investors to purchase securities of the Company in the aggregate amount of $6.5 million, the Company has decided to increase the size of the Offering to a maximum amount of $8 million and to amend the terms of the units of the Company to be sold under the Offering. The Offering will now consist of the sale of up to 53,333,333 Units at a price of $0.15 per Unit. The size of the Offering may be further increased at the discretion of the Company due to market demand.
Hundreds of feet below thick boreal forest blanketing the Canadian Shield, a squad of near-silent, battery-powered machines are tunneling toward gold in a multimillion-dollar mining experiment to ditch diesel.
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