Day: July 25, 2019

Mining Underway at Oposura

Commenting on the milestone Azure Managing Director Tony Rovira said: ‘I would like to thank the entire Azure team for all their hard work over the past two years. We acquired Oposura in August 2017, and to be commencing an early-stage, low-cost, high-grade mining operation within 24 months is a great achievement.’

Great Panther Reports Second Quarter 2019 Financial Results

“Our results for the second quarter reflect the first full quarter of Tucano Gold Mine operations under our ownership,” stated James Bannantine, President and Chief Executive Officer. “Tucano achieved our production guidance for the second quarter and drove a 165% increase in revenue and a 187% increase in mine operating earnings before non-cash items over the second quarter of last year. More importantly, Tucano started to show additional meaningful improvement in grade and recovery after the commissioning of the supplemental oxygen system at the end of April. This key improvement in processing, combined with increasing productivity and a higher-grade mining sequence commencing in August, are expected to lead to an improvement in earnings for the balance of the year. For July month to date, Tucano is tracking to our third quarter guidance.”

Capstone Mining Extends and Improves $300 Million Revolving Credit Facility

“The improved revolving credit facility reflects Capstone’s balance sheet strength with peer-leading low leverage ratios,” said Darren Pylot, President & CEO of Capstone. “Our balance sheet will be further strengthened with the removal of an annual amortization of the credit facility, thereby providing additional working capital for expansion opportunities, and the improved pricing grid translates to annual savings of approximately US$1 million in interest payments.”

IMPACT Silver Closes Second Tranche of $4.95 Million Financing Totalling $714,279

Frederick Davidson, CEO and President of IMPACT comments “Given the substantial interest in silver and rising price of the metal recently, we aim to re-invigorate our exploration activities on one of the largest historical and prolific high grade silver and gold districts in Mexico with the proceeds of the financing.”

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