Month: July 2019

Alamos Reports Second Quarter 2019 Results – Strong Margin Expansion Drives Record Cash Flow From Operations of $72 Million

“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.

Starcore Provides Update On Operations In Mexico

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 Successfully Completes Amended Debt Facility

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.

Flujo operativo de Peñoles se desploma 58.4% en segundo trimestre

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.

Capstone Mining Q2 2019 Results: Continued Operating Momentum

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.”

Se hunde Peñoles más de 10% en BMV

‘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.

Silver Spruce Confirms High Grade Gold Mineralization at Cocula Advanced Gold Project

Silver Spruce Resources Inc. is pleased to announce that it has received assays from due diligence samples taken from the Timmins Gold (now Alio Gold) reverse circulation drill program stored at the project and assays from new surface samples taken by the independent Qualified Person preparing the maiden NI 43-101 report on the Cocula project in Jalisco State, Mexico.

Avino Announces Closing of Bought Deal Offering

Avino Silver & Gold Mines Ltd. further to the Company’s press release dated July 24, 2019, the Company is pleased to announce that it has closed the bought deal financing with Cantor Fitzgerald Canada Corporation, as sole bookrunner and sole underwriter for the issuance of a total of 7,735,360 common shares of the Company for aggregate gross proceeds of $6,900,340, consisting of 5,411,900 common shares at the issue price of CDN$0.85 per Common Share, and 2,323,460 common shares which qualify as “flow-through shares” as defined under the Income Tax Act (Canada) at the issue price of CDN$0.99 per FT Share.

Goldplay’s First Drill Hole Intersects 204.6 g/t Gold at San Marcial

Goldplay President and CEO Marcio Fonseca commented, ‘The high-grade gold-silver intercept is highly significant as it supports the Company’s goal of expanding the San Marcial resource. It is the first time in approximately 10 years that any type of exploration work has been carried out on the project. One year ago, our data indicated high-grade silver, lead and zinc at San Marcial. Today, we have added high-grade gold. We are committed to continue systematic exploration and drill programs at San Marcial’

VVC Announces Private Placement Financing

VVC Exploration Corporation announces the Company is raising up to CA$2.5 million (approx. US$2.0) in a non-brokered private placement of units of the Company at a price of $0.05 per Unit.

SSR Mining Provides July 2019 Exploration Update

At the Pitarrilla project, we are reviewing drill programs and engineering studies to identify additional zones and continuity of high grade Mineral Resources with the potential to improve project economics based on current metal prices. We are evaluating contractors to extend the existing underground access and drill these areas. If approved, drilling is anticipated to commence in the second half of 2020.

Amercas Silver Reports Second Quarter Production Results and Relief Canyon Construction Update

“The Company remains on target to achieve its full year production and cost guidance despite the expected lower production from the Galena Complex and lower realized metal prices in the quarter,” said Americas Silver President and CEO Darren Blasutti. “The second half of 2019 will be a very exciting period for our Company as we expect not only higher silver production, but most importantly, first gold pour from the Relief Canyon Mine.”

Fresnillo plc interim results for the six months to 30 June 2019

Octavio Alvídrez, Chief Executive Officer of Fresnillo plc, said: “As we previously disclosed in our second quarter production report, continued challenges at our Fresnillo, Saucito and Herradura mines, combined with higher costs, have impacted profitability for the period. Following the measures put in place, we have seen some short term improvement in mine performance at both Fresnillo and Saucito and we expect to see a gradual improvement in the following quarters, albeit not at the rate we had anticipated. We have therefore adjusted our full year production forecasts in the second quarter production report.”

Starcore Reports Year End 2019 Results

Starcore International Mines Ltd. has filed the results for the year end dated April 30, 2019 for the Company and its mining operations in Queretaro, Mexico and toll processing operations in Matehuala, Mexico.

Santacruz Silver Reports Second Quarter 2019 Production Results

Mr. Carlos Silva, Chief Operating Officer, stated “The second quarter production results again reflect operational improvements at both mines.” He continued, “We expect a further production increase at Veta Grande in the third quarter as second quarter production was impacted by an unforeseen mechanical problem with the largest ball mill that required a major repair over the last half of the quarter. This work was completed in early July.”

Riverside Expands Into Canada Staking New High-Grade Gold Project

Riverside’s President and CEO, John-Mark Staude, stated: “The Oakes Project is the first project Riverside’s generative team has staked in western Ontario and the Company plans to continue diversifying its portfolio with further Canadian gold prospects when high-quality acquisition opportunities present themselves. Adding Canadian assets to our portfolio expands our prospective partner network further, with access to flow-through financing and other exploration tax credit programs. We are pleased with the greater than 20 g/t gold assay results from our initial work at the Oakes Project and plan to follow up these positive results with more mapping, sampling and survey work in 2019. Our aim is to define compelling drill targets to attract quality partnerships and provide our shareholders with additional discovery opportunities.”

Silver Bull Makes New Discovery and Intercepts 13.25 Meters of Massive Sulphide Grading 9.05% Zinc, 2.12% Lead and 16g/t Silver, Including 5.85 Meters Grading 11.93% Zinc, 2.83% Lead and 24g/t Silver in Coahuila, Mexico

Tim Barry, President, CEO and director of Silver Bull states, ‘Four of the five holes announced in this news release are focused within the Palomas Negros area. This is a historical mining area that lies 9 kilometers to the west of the main deposit at Sierra Mojada. The Palomas Negros area has never been assessed with modern exploration techniques and has long been recognized as an exciting target to be followed up. Work is ongoing to fully understand the controls on the mineralization at Palomas Negros, but to get a high grade intercept over 13.25 meters in a first pass drill pass drill program is very encouraging, especially so close to surface.’

Azure Minerals – Quarterly Activities Report for Period Ended 30 June 2019

During the quarter, the Azure Board approved the commencement of a small-scale mining and toll processing operation, to exploit easily-accessible, high-grade mineralised material at Oposura. The operation is expected to deliver early cash flow to the Company to support the completion of the Feasibility Study and provide general working capital.

Sonoro Files NI 43-101 Technical Report for the Cerro Caliche Project in Mexico

Kenneth MacLeod, President and CEO of Sonoro commented, ‘The establishment of a maiden estimate of mineral resources at Cerro Caliche provides a strong foundation from which potentially to expand the mineralization along strike and at depth from many of the mineralized zones documented in the Technical Report. We are pleased to confirm that many of the recommendations contained in the Technical Report are either being actively pursued, or will be implemented shortly, including; metallurgical testing, 3D modelling of the structure, and a 7,000 meter drilling program comprising diamond drilling and reverse-circulation drilling to increase the confidence of the known mineralization and to identify potential expansion of known mineralization.’

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