Month: February 2019

Great Panther Silver Reports Fiscal Year 2018 Financial Results

“2018 was a year of significant strategic advancement for Great Panther against the backdrop of a challenging metal price environment,” stated James Bannantine, President and CEO. “Significantly lower silver prices and higher costs driven by geology at our Guanajuato Mine in the third quarter reduced mine operating earnings year-over-year. Furthermore, we continued to fully expense the advancement of our Coricancha project in Peru. These factors were the primary contributors to our loss this year. With regard to our costs in Mexico, we took quick action to implement cost reduction and restructuring measures and started to realize cost reductions in the fourth quarter. We also invested significantly in corporate development, which culminated in a transformational deal to acquire Beadell Resources Limited that will formally close in early March. As a result of these initiatives, 2019 will represent a historic year of change for Great Panther that will see the Company become a growth-oriented intermediate precious metals producer in Latin America.”

Advance Gold Closes Private Placement and Prepares For Phase 3 Drilling

Allan Barry Laboucan, President and CEO of Advance Gold Corp. commented: “Our team is very excited to get started on our phase 3 drilling program at the Tabasquena project. We are in the final stages of planning our two pronged approach to drilling, and will provide more details as we begin drilling shortly.

Premier Gold Mines Reports 2018 Fourth Quarter and Year End Results

“The Company’s strong financial position has provided us the opportunity to grow our future production through the advancement of our portfolio” stated Ewan Downie, President & CEO. “With two new mines under construction at South Arturo, and permitting underway at Cove and Hardrock, we expect to see significant increases in our future production profile”.

Sonoro Enters Into Fiscal Advisory Services Agreement

“We are excited to work with InProved to access institutional investors and Asian investor markets, with the intent of completing a non-dilutive financing for the construction of a pilot gold operation at our Cerro Caliche project,” said Kenneth MacLeod, President and CEO of Sonoro. “Our goal is to mitigate shareholder dilution by using revenues from the proposed operation to fund future exploration and development at our Cerro Caliche and San Marcial properties.”

Southern Silver Intersects 2.0m averaging 409g/t Ag, 0.9% Cu, 0.8% Pb and 8.4% Zn (871g/t AgEq; 24.6% ZnEq) in Drilling at Cerro Las Minitas

The identification of such enriched silver and pathfinder metals in this initial phase of wide-spread drill testing on the CLM West claims may be significant in suggesting a potential proximity to much more precious-metal enriched (Ag-Au) deposits. Similar pathfinder-ore relationships are identified on the adjacent La Preciosa and Avino mineral systems and are described in classic models of vein and breccia epithermal systems.

Sable Intersects 297.7g/t AgEq (283g/t Ag, 0.78% Zn, 0.32% Pb) over 33.3m including 702.13g/t AgEq (579g/t Ag, 1.67% Zn, 0.76% Pb) over 9.9m

We are very pleased to have been able to increase the strike length of the Margarita structure a further 250m to the southeast with Hole M-DDH-19-15, commented Ruben Padilla, Vice President of Exploration for Sable. Drillhole M-DDH-19-14 is our best intercept to date confirming the high-grade core of the Margarita Vein over considerable thickness with an extensive lower grade halo close to surface.

Aloro Signs New Three Year – 50 Drill Hole Surface Access Agreement With the Mulatos Ejido

Thomas A. Doyle, President, CEO, stated “I would like to thank the Ejido for their help and support to let us continue with our exploration programs. I am very pleased that we were able to reach an agreement. The initial plan is to get the drill rig back on the property and follow up on what we have discovered in LVRC 12 in the south east portion of the property”

Gold Resource Corporation Announces 2019 Annual Meeting of Shareholders

Gold Resource Corporation announced today that it will hold its annual meeting of shareholders at 8:00 a.m. Mountain Time on Thursday, June 20, 2019 at Embassy Suites located at 10250 East Costilla Avenue, Centennial, CO 80112. Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, U.S.A. The Company has returned $111 million to its shareholders in monthly dividends since commercial production commenced July 1, 2010 and offers its shareholders the option to convert their cash dividends into physical gold and silver and take delivery.

Evrim and Coeur Mining commence drilling at Sarape gold-silver project in Sonora, Mexico

“The undrilled Sarape Project is located in the Rio Sonora Valley, an emerging precious metals mining district that includes Silvercrest’s Las Chispas deposit, Premier Gold’s Mercedes Mine, and First Majestic’s Santa Elena Mine and Ermitaño deposit,” commented Stewart Harris, VP of Technical Services. “Drilling is planned to test the Sarape and Chiltepin veins; targets that have potential for significant gold-silver shoots beneath zones of favourable geochemistry.”

One World Lithium Amends Terms of Warrants to Extend Expiry Date

One World Lithium Inc. announces that it will be amending the terms of 100,000 share purchase warrants previously issued pursuant to a Credit Facility that closed on February 28, 2017. The Warrants were originally exercisable by the holder at a price of $0.20 per common share in the capital of the Company for a period of two years from the date of issuance. The expiry date of these Warrants will be extended by twenty-four months. Following the extension of the term of the Warrants, each Warrant will entitle the holder thereof to acquire one Share at an issue price of $0.20 per Share on or before February 28, 2020. All other terms and conditions of the Warrants will remain the same.

Avino Announces Financial Results for Fourth Quarter and Year End 2018

“Despite the challenges faced in 2018, our overall silver equivalent production increased in both the fourth quarter and for the full year. Operationally, 2018 was a year in which we successfully achieved our goal of completing Mill Circuit 4 and several drill programs on numerous areas of the Avino property, which successfully outlined longer term targets that warrant further investigation and drilling.” stated David Wolfin, President and CEO.

Magna Gold Corp. Announces Closing of First Tranche of Non-Brokered Private Placement

Magna Gold Corp. is pleased to announce that further to its news released dated February 11, 2019, it has completed the first tranche of a non-brokered private placement of common shares at a price of CAD$0.32 per Common Share comprising the concurrent financing to the Corporation’s previously announced proposed qualifying transaction. The first tranche of the Concurrent Financing consisted of the sale of 7,758,184 Common Shares for gross proceeds of $2,482,619.

Riverside Resources Inc. Increases Private Placement Due to Investor Demand

The Company will use the proceeds of the financing to fund a focused drill program at the Cecilia Gold Project, additional project acquisitions and further target refinement on existing projects to advance towards new partnerships. The Company may pay finders fees in cash or Units to qualified finders of up to 8.0% of the aggregate gross proceeds realized from subscribers identified by the finder. The closing of the private placement is subject to TSX-V approval.

Alien Metals – Appointment of NOMAD and Additional Updates

Alien’s Chairman Dennis Edmonds said, “We are delighted to welcome Peter and Dan to the Board of Alien. Peter’s arrival as CEO has been orchestrated as we embark on delivering on our strategy of a) seeking to demonstrate and realise value within the Company’s existing Mexican silver portfolio and b) acquiring projects which demonstrate significant development upside, in jurisdictions with established infrastructure and mining codes, where strong operational controls can be assured.

Gold Resource Corporation Achieves Eighth Consecutive Profitable Year Reporting $9.3 Million Net Income, $0.16 per Share, Provides 2019 Production Outlook

“I am very pleased to report that for 2018, Gold Resource Corporation delivered its eighth consecutive year of profitability,” stated Gold Resource Corporation CEO and President, Mr. Jason Reid. “Our Company achieved its annual Oaxaca Mining Unit production goals at a low all-in sustaining cost per ounce of $655 and posted annual net income of $9.3 million or $0.16 per share…”

Evrim’s Ermitaño Royalty Update

“We congratulate First Majestic on its exploration success and are extremely pleased with the progress being made on the Ermitaño project,” commented Paddy Nicol, President and CEO of Evrim. “Ermitaño has the potential to add resources and mine life to the Santa Elena Mine and increase its profitability. Mineralization occurs in two steeply dipping, low sulphidation epithermal veins called Ermitaño and Ermitaño Splay. The bulk of the 3.365 million tonne inferred resource containing of 3.99 g/t gold and 68 g/t silver disclosed by First Majestic on March 29, 2018 is hosted in the Ermitaño Splay structure. According to First Majestic, the 2018 drill program was designed to increase the confidence level and size of the existing inferred resource and the 2019 drill program will investigate the feasibility of open-pit extraction at shallower depths. The progress with permitting is encouraging and we look forward to seeing the results from the planned 16,000 metres of drilling in 2019.”

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