Month: March 2019

Jorge A. Ganoza, President and CEO, commented, “In 2018 we had strong financial results with free cash-flow generation from ongoing operations of $55 million and adjusted net income of $38.4 million. Our strong results in the year, in spite of a weaker price environment in the second semester, speak for our commitment to efficient operations and the strength of our assets.” Mr. Ganoza added, “Our capital investment plans and working capital requirements during the Lindero construction in Argentina are adequately funded from available liquidity and free cash flow from our mines.”

Southern Copper Corp, one of the world’s biggest copper producers, is considering an investment in a lithium project in Mexico that has also attracted interest from a Chinese firm, the company’s chief executive told Reuters on Wednesday.

Mako Mining Corp. announces that Mr. Kevin Bullock has tendered his resignation as CEO and director of Mako to pursue another opportunity. Mr. Bullock’s departure will be effective immediately.

The net proceeds from the Private Placement will be used to continue exploration on the Company’s Las Minas project located in the State of Veracruz, Mexico, to make the final property payment (done), and for general working capital purposes.

McEwen Mining Inc. today announced its voluntary termination of the equity distribution agreement entered into on November 8, 2018. Under the equity distribution agreement, McEwen Mining could offer, from time to time, shares of its common stock having an aggregate offering price of up to $90,000,000. McEwen Mining provided notice to the sales agents of the termination of the equity distribution agreement on March 13, 2019, effective as of the close of business on March 13, 2019.

Vangold Mining Corp has arranged a non-brokered private placement financing of up to 10,000,000 units at a price of $0.05 per unit for gross proceeds of up to $500,000. Finders fees may be payable in connection with this private placement.

The San Francisco Mine in Q4 2018 produced 10,292 gold ounces and 4,204 silver ounces compared to 16,070 gold ounces and 7,873 silver ounces during Q4 2017. Gold and silver production was lower as a result of fewer recoverable ounces deposited on the leach pads.

Ore deliveries to the Santa Eulalia concentrator were 4,158 tonnes during the month, with reported recoveries of 89.2% zinc to Zinc Concentrate and 83.5% lead to Lead Concentrate. The concentrate grades were 48.1% zinc in Zinc Concentrate and 42.7% lead in Lead Concentrate. These recoveries are within the long-term recovery expectations of blending Plomosas with the Santa Eulalia ore at the Santa Eulalia processing plant. The Plomosas ore concentrates to a low impurity concentrate which is highly desired by smelters.