Month: July 2019

“Our operations performed well across the board in the second quarter. Gold production was in line with guidance while total cash costs were down 16% year-over-year, driving stronger margins and record cash flow from operations. This was highlighted by another record quarter of production from Island Gold where we continue to see excellent exploration results. With solid first half performance, we are well positioned to meet full year production and cost guidance,” said John A. McCluskey, President and Chief Executive Officer.

As previously disclosed, the Company entered into an agreement covering the sale of its subsidiary, Altiplano Goldsilver S.A. de C.V., which owns the processing facility in Matehuala, Mexico at a price of US$1.6 million.

Torex Gold Resources Inc. is pleased to announce that the Company’s wholly-owned subsidiary Minera Media Luna, S.A. de C.V. has signed an amended and restated credit agreement with Bank of Montreal, BNP Paribas, ING Bank N.V., Dublin Branch, Société Générale and The Bank of Nova Scotia in connection with a secured $335 million debt facility.

Las acciones de Industrias Peñoles se desplomaron 11.46 por ciento este día después presentar sus resultados al segundo trimestre del año, que fueron desfavorables para la compañía en materia de ventas, flujo operativo y una pérdida neta derivado de la caída en los precios de metales.

Mr. Pylot continued, “Looking ahead, we have identified a number of initiatives to further reduce expenditures throughout the business and are making steady progress on our strong organic growth pipeline. We are in the process of articulating the longer-term outlook for the Company. Cozamin’s growth plan is on track to increase production by 30% by the end of 2020 and we are targeting doubling the mine life to up to 2030. Pinto Valley’s ‘PV4’ expansion plan includes options to capitalize on the roughly one billion tonnes of resources, including potentially expanding the mill by as much as 25% to 75% or higher. Finally, we remain actively engaged on the strategic process at Santo Domingo and look forward to communicating developments as appropriate.”

Pan American Silver Corp. is pleased to announce that we have achieved final resolution with Guatemalan community members who commenced a Supreme Court of British Columbia action in 2014 against Tahoe Resources Inc.

‘La compañía considera que este movimiento obedece a la reacción del mercado por la publicación de los resultados del segundo trimestre, tanto de su subsidiaria Fresnillo como de la propia compañía, en los que registró una pérdida trimestral consolidada, debido a la caída en precios de los metales e incremento en costos’, señala.