Month: March 2019

Sierra Metals Inc. Announces Closing of New Senior Secured US$100 Million Corporate Credit Facility

Igor Gonzales, President and CEO of Sierra Metals commented, “The new Corporate Facility combined with our strong cash flow provides greater financial flexibility to our capital structure and will enhance our ability to implement growth initiatives in line with the Company’s strategic plan. The main use of this facility is to repay the existing BCP credit facility at our Diabras Peru subsidiary, which was established at the time of the Sociedad Minera Corona acquisition in 2011. The new structure provides a more efficient capital structure that would allow us to better meet the growth plans for Sierra Metals in the future.”

IMPACT Silver Announces 2018 Financial and Production Results

Fred Davidson, President & CEO of IMPACT, stated, “Over 2018 we encountered a mixture of lower silver prices and fluctuating foreign exchange rates. Operational changes have been made to address cost concerns and to mitigate financial risk at current silver prices. Going forward, IMPACT’s objective is to achieve positive cash flow on existing production levels while exploring selective higher-grade targets which IMPACT can fast track to higher grade production.”

McEwen Mining Suspends Distribution

“We have experienced operating issues at our Black Fox Mine and with the startup of our Gold Bar Mine. While viewed as temporary, these issues have resulted in much lower revenue this quarter than planned. As a result, we decided the prudent and responsible course of action was to conserve our cash and suspend the distribution,” said Rob McEwen, Chairman and Chief Owner.

Chesapeake Updates 2019 Exploration Activities – New Gold-Silver Prospect Discovered Near Metates

This year our exploration focus will be on the under-explored region surrounding Metates and adjacent areas that would be positively impacted by an operating world class mine. Typically, satellite mineral deposits form clusters around large, world class deposits. Chesapeake’s organic project pipeline including new discoveries such as Crisy, would capitalize on the expanded road network and related infrastructure from the future development of Metates, stated Randy Reifel, President.

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.