Day: August 8, 2019

”The second quarter came in lower than expected primarily as a result of lower production at the Florida Canyon Mine resulting from low equipment availability of the aged mine fleet,” said Mark Backens, President and CEO. ”The Company is well advanced in securing a replacement loading and hauling fleet which addresses the long-standing problems associated with the current aged fleet that has reached the end of its service life. This is a major milestone for Florida Canyon and is expected to facilitate a significant increase in mining capacity and gold production at reduced cost over the life of the mine.”

Mako Mining Corp. today announced the grant of 42,500,000 incentive stock options to its officers and directors pursuant to the stock option plan of the Company. The number of shares reserved for issuance under the stock options is 42,500,000 common shares, representing approximately 7% of the current issued and outstanding common shares of the Company.

“Parral continues to perform well, with another record production quarter completed, and we’re seeing strong results thus far in July and August,” stated Brad Langille, President and CEO. “Leaching on the second lift is providing strong results, which is demonstrated by production growth and the increase in EBITDA from a year ago, with strong all-in costs of $13.61 in the quarter and $14.26 for the year to date. The SART project is on track, and once this is in operation in early 2020, we anticipate significant cost savings and cash inflows from liberated cyanide and copper that is currently in solution.”

GREAT PANTHER MINING LIMITED announces that, further to its press release dated August 1, 2019, the Company has closed its bought deal financing for aggregate gross proceeds of US$17,250,000, pursuant to which the Company issued 23,000,000 common shares of the Company at the price of US$0.75 per Share.

Bradford Cooke, Endeavour CEO, commented, “Our Second Quarter, 2019 financial performance reflects the continued operational challenges we experienced in the First Quarter, 2019. However, we initiated several changes in Q2 to turn around our operating performance and we are seeing progress at two mines. At Guanacevi, both grades and recoveries improved as production increased from the new Milache orebody. At El Compas, throughput, grades and recoveries improved as we delivered our first full quarter of commercial production. At Bolanitos, the operational changes continued into July so we are looking for progress in H2, 2019. At El Cubo, Q2 production was as planned.”

Fred Stanford, President & CEO of Torex, stated: ‘We delivered record gold production and sales in Q2, with gold output increasing and cash costs declining quarter-over-quarter as anticipated. With the strong production result, we are well on track to delivering on our full year sales guidance of 430,000 ounces (+/- 7%) as well as our total cash cost and all-in sustaining cost guidance. ‘