Month: December 2019

Goldgroup Provides a Legal Update

Goldgroup Mining Inc. provides a response to DynaResource, Inc.’s news release from December 20, 2019. The Company is currently awaiting the written judgment of the 11th Federal Circuit Collegiate Court in México to be published to assess its contents and reasons for judgment. The Company will continue to pursue all legal avenues in Mexico to achieve a favorable resolution to the DynaUSA dispute.

Prospero Announces Sale of Mexican Subsidiary

William Murray, Chairman and CEO of Prospero, commented: “The Company has diligently pursued its mission as a project generator/explorer since its formation in 2010. However, exploration results to date, and the lack of available funding for exploration projects since 2011, have made it difficult to materially advance our projects and create sustainable shareholder value. In addition, the ever increasing cost to maintain our projects, and the growing regulations that have been imposed by the new Mexican administration on exploration companies, has made it necessary that we expeditiously consider any and all alternatives…”

Sierra Metals Updates the Mineral Resource Estimate for its Bolivar Mine, Mexico

Igor Gonzales, President and CEO of Sierra Metals Inc. commented: “Since the latter part of 2017, the Company has been executing on a 55,251 meter drilling campaign, with a significant portion of the program already completed. Drilling has occurred at Bolivar West, Bolivar Northwest and El Gallo Inferior zones. Currently, these high-value targets continue to be defined and subsequent exploration programs planned with a goal of increasing tonnage and grades at Bolivar.”

First Mexican Gold Corp. Announces Closing of Third Tranche Private Placement of Units

First Mexican Gold Corp. is pleased to announce that further to its news release of December 24, 2019, the Company has issued an aggregate of an additional 1,900,000 units of the Company at a price of $0.05 per Unit for gross proceeds of $95,000. In total, the Company issued an aggregate of 20,000,000 Units for gross proceeds of $1,000,000.

Equinox Gold and Leagold Mining Mail Joint Management Information Circular in Connection with Special Meetings to Approve Business Combination to Create a Premier Americas Gold Producer

Equinox Gold Corp. and Leagold Mining Corporation have filed the joint management information circular and related meeting materials in connection with their respective special meetings of securityholders to be held on January 28, 2020. The purpose of the Meetings is to seek approval for a number of matters in connection with the proposed at-market merger announced on December 16, 2019, whereby Equinox Gold and Leagold will combine to create one of the world’s top gold producing companies operating entirely in the Americas.

Great Panther Announces US$10 Million Concentrate Prepayment

GREAT PANTHER MINING LIMITED announces that its wholly owned subsidiary, Minera Mexicana el Rosario, S.A. de C.V., has entered into a US$10 million concentrate prepayment agreement with the IXM Group, one of the world’s largest physical metal traders, headquartered in Geneva, Switzerland. MMR wholly owns and operates the Company’s Mexican mining operations.

Gold Resource Corporation Declares December Monthly Dividend

Gold Resource Corporation declares its monthly instituted dividend of one-third of a cent per common share for December 2019 payable on January 23, 2020 to shareholders of record as of January 13, 2020. Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA.

Exploration and Definition Drilling Commences at Plomosas

A six hole program has commenced drilling with the objective to extend the Indicated JORC Resource envelope down dip and to the south. These holes are targeted within the existing Inferred Resource envelope and will infill the identified mineralisation.

SSR Mining Files Early Warning Report Related to the Sale of the Diablillos and M-18 Projects

SSR Mining Inc. announces today that on December 19, 2019 it received an additional 24,160,385 common shares of AbraPlata Resource Corp. and C$200,000 cash payment in connection with the Plan of Arrangement between AbraPlata and Aethon Minerals Corporation, as consideration for our agreement to amend our purchase and sale agreement in respect of the sale of the Diablillos and M-18 projects.

Golden Minerals Sells Two Mexican Properties to Industrias Peñoles

Mr. Warren Rehn, President and Chief Executive Officer of Golden Minerals, said, “We are very pleased to conclude the sale of these non-core concessions to Peñoles. The cash received will enable us to advance our key exploration projects in Mexico and Nevada.”

Oroco Announces Special General Meeting Results

100% percent of the voting disinterested shareholders approved the Company’s option to acquire Altamura Copper Corp. and advance working loans to Altamura as described in the Company’s news release of October 9, 2018.

Defiance Announces Loan Extension

Defiance Silver Corp. is pleased to announce that it has extended the Loan from Windermere Capital Fund SPC (on behalf of the Navigator Segregated Portfolio) for an additional year. The Loan will mature on December 21, 2020. During 2019, the loan balance was reduced by $500,000.

Camino Rojo Oxide Gold Project Advances Towards Production

“Securing this US$125 million Credit Facility and one of the key permits marks two more critical milestones in the evolution of Orla, allowing us to maintain our schedule for advancing Camino Rojo toward production in mid-2021. We have accomplished a great deal to get to this point in just two years since the acquisition of the project. With the continued support of local communities, various levels of government, shareholders and now lenders, we can advance toward production by initiating construction in the coming months once the final permit is received,” stated Jason Simpson, President and Chief Executive Officer.

Discovery Announces Appointment of Forbes Gemmell as VP Corporate Development and Investor Relations

Taj Singh, President and CEO, states, “We are very excited to welcome Forbes to the management team at Discovery. His capital markets background in conjunction with his corporate experience in exploration and project development will be key assets in driving value creation through the advancement of Discovery’s flagship Cordero project as well as through broadening the Company’s exposure within the investment community.”

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