Month: February 2019

SSR Mining Reports Fourth Quarter and Year-End 2018 Results

Paul Benson, President and CEO said, “SSR Mining had another successful year in 2018 as we continued our track record of achieving production and cost guidance for the seventh consecutive year while transitioning to commercial production at Chinchillas. We maintained a strong balance sheet after a year of investment that brought a new mine into production, delivered reserve growth and included our strategic investment in SilverCrest Metals.

Aura Announces Management Changes

Aura Minerals Inc. announces the appointment of Kleber Cardoso as VP Finance and the departure of Ryan Goodman as VP Legal Affairs.

Goldplay Discovers High-Grade Silver Zone in the Faisanes Target – 56 Metres @ 196 Ppm Silver, Including 15 Metres @ 472 Ppm Silver

Goldplay President and CEO Marcio Fonseca commented, “These excellent silver results from trench SMtr-001 are highly encouraging as Goldplay strives to expand the silver resource at the San Marcial Project. The high-grade silver results suggest that mineralization from the resource area may be continuous into the adjacent Faisanes area, with definition of parallel zones, which would validate discoveries of new mineralization encountered in the footwall of the deposit when logging and assaying historical drill holes in the second half of 2018. The trench displays significant widths of high-grade silver mineralization at surface, supporting the upside potential to expand the resources in the near future. We are currently planning additional trenches to follow up the mineralization identified at Faisanes along strike to the west-northwest.

McEwen Mining Reports 2018 Full Year and Q4 Results

McEwen Mining achieved record production of 175,640 gold equivalent ounces at cash costs of $817 per GEO and all-in sustaining costs of $1,002 per GEO. Our 2019 production guidance is 210,000GEOs, a 20% increase over 2018 production, at average cash costs and AISC per GEO of $877 and $1,034, respectively. During 2018, we invested heavily in areas that we believe will enhance our future growth and profitability. We invested $35 million in exploration, $66 million in construction at the Gold Bar Mine in Nevada, and $10 million to advance our Fenix and Los Azules projects. As a result we are reporting a consolidated net loss for 2018 of $45 million, or $0.13 per share.

Torex Announces 2018 Year End Financial and Operational Results With Record Gold Production

Fred Stanford, President & CEO of Torex stated: “2018 is now in the record books and it left some memories. Most of the memories are very good. Excellent safety and environmental performance, record production, Sub-Sill ramped up, SART plant ramp-up, successful exploration at Sub-Sill and ELD, successful infill drilling at Media Luna, and rapid advance of the Muckahi technology. A couple of experiences weren’t quite so fulfilling. Hopefully, this is the last time I ever use the word ‘blockade’ in a press release and we didn’t quite get to design levels in the processing plant (93%). We could spend capex to close the gap, but don’t see it as a good investment since the future underground ores are softer and don’t need the capacity that the investment would produce. We’ll diligently work on the last 7% the old-fashioned way, with continuous improvement in operations and maintenance practices. Life will continue, if it takes a bit longer to get there. A year of operating at 93% adds a month to the six-year mine life of the open pits, which in effect, delays the need for the investment in the replacement underground ores.

Hecla Reports Fourth Quarter and Full Year 2018 Results

At San Sebastian – Mexico: Silver production was 443,302 ounces for the fourth quarter and 2,037,072 ounces for the full year of 2018 compared to 759,100 and 3,257,738 for the same periods of 2017. Gold production was 2,928 ounces for the fourth quarter and 14,979 ounces for the full year of 2018, compared to 5,955 and 25,177 for the same periods of 2017. The lower metal production was expected due to lower grades as a result of the transition from shallow, high-grade open pits to underground production. The mill operated at an average of 487 tpd in the fourth quarter 2018 and 429 tpd for the year.

Pan American Silver Reports Mineral Reserves of 280 Million Ounces and Continued Success at the La Colorada Skarn Discovery

2018 was a very successful year for near-site mine exploration with the replacement of over 21 million ounces of silver and the major skarn discovery at La Colorada, which is not yet reflected in our proven and probable reserves or resources, said Christopher Emerson, Pan American’s Vice President Business Development and Geology. Drill hole U-68-18 with 308 metres of polymetallic mineralization is another impressive result of this major discovery.

Pan American Silver Reports Unaudited 2018 Annual and Fourth Quarter Results

“Pan American’s operations demonstrated solid performance in 2018, highlighted by the lowest cash costs on record since 2006. This performance resulted in strong cash flow generation and a healthy financial position at year end,” said Michael Steinmann, President and Chief Executive Officer of the Company. “Importantly, we advanced our strategy of developing new catalysts to generate value for shareholders. Our acquisition of Tahoe Resources will result in a more diversified Pan American with a strong portfolio of cash-generating assets and superior growth opportunities. In addition, our major exploration discovery at La Colorada demonstrates a significant opportunity for long-term organic growth.”

Aloro Appoints Ken Balleweg as Technical Advisor

Ken, along with Melvin A. Herdrick, PGeo, Technical Advisor, and Isidro Flores, M.Sc. in Geology from the University of Sonora, Country Geologist, will assist in the evaluation and development of the Los Venados project in Mulatos, Sonora, Mexico.

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.

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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.