Month: October 2019

1,363 tonnes of ore mined, down from 2,794 tonnes in August as the Company processed the significant ore stockpile

“Congratulations to all of our employees at Amaruq for achieving commercial production in line with the original schedule despite ongoing challenges related to dewatering and adverse weather conditions in the second and third quarters of 2019. We would also like to thank the various government agencies and the local communities for their continued support in Nunavut,” said Sean Boyd, Agnico Eagle’s Chief Executive Officer

“Great Panther’s Tucano Gold Mine continues to see steady improvement in performance and increased gold production by 21% over the second quarter, achieving its third quarter guidance with production of over 36,000 ounces of gold,” stated James Bannantine, President & CEO. “We are also pleased to report record metal production during the quarter from our Topia Mine and continuation of our exploration initiatives at the Guanajuato Mine Complex with an updated NI 43-101 resource estimate expected in early 2020.”

The Company intends to use the net proceeds of the Offering for exploration work on the Company’s San Marcial property in Mexico and for working capital and general corporate purposes.

Mr. Jason Reid, CEO and President of Gold Resource Corporation, stated, “I am very pleased to report the Isabella Pearl mine, which broke ground and produced first dore in just ten months, has reached commercial production levels just sixteen months after breaking ground on the project in June 2018. Our team has worked extremely hard these past few months navigating the challenges of mine commissioning, managing construction contractor difficulties and the typical production ramp up of a new mine…”

“As expected, our third quarter operating and financial performance improved,” said Phillips S. Baker, Jr., President and CEO. “We knew that dialing back our expenditures while achieving our expected production and sales targets would increase our cash flow generation. We expect more of the same in the fourth quarter.”

Santacruz Silver Mining Ltd. reports that effective October 4, 2019, the Company, having received requisite shareholder and stock exchange approvals, has acquired the remaining 50% of the outstanding shares of PCG Mining, S.A. de C.V. from a non-arm’s length party in consideration for the issue of 30,000,000 common shares of the Company, resulting in the Company owning 100% of PCG, which is the parent holding company of Carrizal Mining, S.A. de C.V.

James McDonald President and CEO stated, “We are happy to have initially secured the personal support of Eric Sprott and now separately, Sprott Asset Management LP(1). With this additional investment we are in a strong position to continue to aggressively move both our high-grade projects, Columba and Copalito ahead over the coming months.”