Month: August 2019

IMPACT Silver Announces Q2 2019 Financial & Production Results

Fred Davidson, President & CEO of IMPACT stated, ”Nearly seven years into this mineral downturn, silver had a challenging first half of 2019. Continuing the cost reduction efforts implemented from September 2018, operating expenses in Q2 2019 dropped to just $3.0 million from $3.8 million, a sharp 20% decrease despite only a 10% drop in silver ounces sold. The decrease in land package size, keeping the high potential packages with the possibility to quickly re-acquire, showcases the flexibility and nimbleness of our operations. Being the largest employer in Zacualpan for the last 14 years, IMPACT has built up trust and rapport with mining government contacts and local staff.”

Sierra Metals Reports Consolidated Financial Results for the Second Quarter of 2019. Conference Call August 15, 2019 at 10:30 EDT

Igor Gonzales, President, and CEO of Sierra Metals stated: ”I am pleased with the improvements that we have seen in the production performance for the Company in the second quarter of the year. Building on the first quarter, we have continued to overcome the challenges encountered to date this year including lower metal prices, a strike at Yauricocha, and a slower than expected ramp-up of throughput at Bolivar and Cusi. However, the Company realized record consolidated quarterly throughput during the second quarter, with record throughput at both the Bolivar and Cusi mines which contributed to strong cash flows and good returns on the capital invested in our growth projects.”

Peñasquito trabaja día y noche para recuperarse del bloqueo

Más de 5 mil trabajadores, propios y subcontratados, laboran por turnos las 24 horas de todos los días, incluidos sábados y domingos, en la mina a cielo abierto Peñasquito, para compensar la caída de la producción de oro, plata, cobre, plomo y zinc luego de 81 días de bloqueo en el complejo ubicado en el valle de Mazapil, en el norte de Zacatecas.

Defiance Closes $3.3 Million Private Placement

Defiance intends to use the proceeds of the financing to continue an aggressive exploration program at its San Acacio Silver project. The drill program will focus on the discovery of new silver shoots along the Veta Grande vein, the recently defined silver-copper geophysical anomaly and further resource expansion.

Kootenay Announces Drill Results Confirming Shallow, High Grade Silver Mineralization on Columba Silver Project, Mexico

Kootenay President and CEO James McDonald states, ‘We are off to a successful start with our first six holes drilled at Columba verifying the F Vein is where expected and carrying high grade silver mineralization as high as 775 gpt silver. Drilling and detailed surface mapping confirms our belief the system is large and strong giving us added confidence in the chances of discovering a high-grade silver deposit.’

MAG Silver Reports Second Quarter Financial Results

”This was a landmark quarter for MAG” said George Paspalas, President and CEO. ”The jointly announced go-ahead decision for the process plant construction marks the final stage in bringing Juanicipio into production. On top of that, the discovery of the North-South oriented Venadas veins opens a new chapter of vein discovery on the joint venture ground, most importantly, in the area where we will be mining. Juanicipio remains a property with remarkable exploration potential.”

Odyssey Marine Exploration Reports Second Quarter 2019 Financial Results

“Earlier this year, we articulated our business plan which focuses on developing subsea mineral assets to create and realize near and long-term value. To achieve this, we intend to continue development of our own projects, acquire other mineral rights/deposits and earn equity in deep-sea mineral projects through our leveraged contracting model,” said Mark Gordon, Odyssey Chief Executive Officer and Chairman of the Board. “We’ve made significant progress on these goals so far this year, and we continue to push forward.”

Chesapeake Gold Acquires Metates Royalty from Wheaton Precious Metals Corp.

P. Randy Reifel, President, commented, ”Metates hosts one of the largest undeveloped gold and silver deposits in the world. Metates is located in a miner-friendly jurisdiction relatively close to key existing infrastructure. We believe gold and silver are in the early stage of a major bull market. The NSR investment will provide leverage and optionality during a rising metals cycle.”

Mako Mining – Corporate Update

Mako Mining Corp. is pleased to provide an update on its recently completed rights offering; progress at its fully-permitted San Albino project in Nueva Segovia, Nicaragua where we are developing a high-grade open pit gold mine next year; the closing down of its La Trinidad mine in Sinaloa, Mexico; and management and board changes, including the appointment of Akiba Leisman, formerly Interim CEO, as CEO of Mako.

Alio Gold Reports Second Quarter 2019 Results

”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. Announces Grant of Stock Options

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.

GoGold Reports Financial Results for the Quarter ended June 30, 2019 and Provides Los Ricos Update

“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 Closes US$17.25 Million Bought Deal Financing

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.

Endeavour Silver Reports Second Quarter, 2019 Financial Results; Conference Call at 10am PDT (1pm EDT) Today

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.”

Discovery Metals Announces up to 8,880 g/t Silver, 41.6% Zinc, and 43.2% Lead in High-Grade Channel Samples from Historical Underground Workings at the Minerva Project

Gernot Wober, VP Exploration stated, ‘The first-ever documented underground results from the historic mines at Minerva were impressive. Mapping and sampling of the underground workings, in addition to surface work completed previously, continues to indicate that the mineralizing system is very high grade. The current results are extremely positive and support the drilling program that we plan to initiate later this year, the first drilling the Project has ever seen.’

Minera Alamos Receives Federal Environmental Permit Approvals for the Santana Gold Project, Sonora, Mexico

‘The receipt of the MIA permit approvals represents the culmination of our efforts over the last couple of years to transform Minera Alamos into a commercial gold producer. We are extremely proud of our technical team’s efforts to successfully obtain operating permits for the Santana project in a little over a year following their submission.’ stated Darren Koningen, CEO of Minera Alamos.

Torex Gold Announces Q2 2019 Financial And Operating Results

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. ‘

Fortuna reports consolidated financial results for the second quarter 2019

Jorge A. Ganoza, President and CEO, commented, ‘Our results in the second quarter reflect a strong financial performance in spite of a challenging price environment for silver, with adjusted net earnings per share of 6 cents, adjusted EBITDA margin of 40 percent, and free cash flow from ongoing operations of $15.4 million.’

Avino Reports Q2 2019 Financial Results

“During the second quarter of 2019, we experienced an unplanned downtime of 5 days due to labour negotiations regarding the closure of the San Gonzalo Mine, this, together with a decline in the feed grade at San Gonzalo, had an impact on our earnings during the second quarter of 2019” said David Wolfin, President and CEO.

Pan American Silver Reports Earnings per Share of $0.09 for the Second Quarter of 2019

“We delivered strong operating performance in Q2, resulting in cash flow from operations of $83.5 million,” said Michael Steinmann, President and Chief Executive Officer. “The integration of the Tahoe assets is progressing well, and the associated transaction costs are now substantially behind us. Combined with the recent strengthening in precious metal prices and an outlook for lower costs, we should see operating margins improve over the remainder of the year.”

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