Year: 2019

Discovery Metals Corp. and Levon Resources Ltd. are pleased to announce the successful completion of Discovery’s acquisition of Levon, previously announced on May 30, 2019, pursuant to which Discovery has acquired all of the issued and outstanding shares of Levon. With the completion of the Transaction, Discovery is now a leading silver-focused exploration and development company that controls several district-scale projects in Mexico.

Leagold CEO Neil Woodyer commented: “At the mid-point of the year we are on track to meet our full-year production and cost guidance. In the first half we have sold just over 200,000 oz gold at AISC of $951 per oz. We have also launched the expansion of Los Filos which, together with the re-start of Santa Luz scheduled for 2021, is expected to take group production to 600,000-700,000 oz per year.”

“During the recent period of low metal prices, we continued to make capital investments and advance exploration programs at both of our projects, leaving us well positioned for the improving silver price environment that we are now seeing,” stated Brendan Cahill, President and CEO. “Our ongoing optimization work has delivered results, reducing AISC by 27% quarter-over-quarter. We still have a number of opportunities to follow-up on to further reduce costs and and increase metal production. Toll milling of ore from Hecla’s San Sebastian Mine commenced in Q2 and is expected to ramp up in Q3, bolstering cash flow. With silver prices now almost $1.50/ounce higher than the average price realized during Q2, we will continue to focus on increasing cash flow and exploring for discoveries at both Platosa and Evolución.”

Alonso Lujan, Vice President of Exploration and the Country Manager for Mexico, and Miguel Paucar, Country Manager of Peru, will take over Mr. Babcock’s responsibilities and report directly to the President and CEO, Igor Gonzales.

The Company intends to use the net proceeds of the Offering for (i) near mine and regional exploration programs at the Tucano Gold Mine, (ii) capital expenditures in connection with the Tucano Gold Mine including optimization initiatives, and (iii) improvement of the Company’s working capital balances and general corporate purposes.

“Our operations performed well across the board in the second quarter. Gold production was in line with guidance while total cash costs were down 16% year-over-year, driving stronger margins and record cash flow from operations. This was highlighted by another record quarter of production from Island Gold where we continue to see excellent exploration results. With solid first half performance, we are well positioned to meet full year production and cost guidance,” said John A. McCluskey, President and Chief Executive Officer.

As previously disclosed, the Company entered into an agreement covering the sale of its subsidiary, Altiplano Goldsilver S.A. de C.V., which owns the processing facility in Matehuala, Mexico at a price of US$1.6 million.

Torex Gold Resources Inc. is pleased to announce that the Company’s wholly-owned subsidiary Minera Media Luna, S.A. de C.V. has signed an amended and restated credit agreement with Bank of Montreal, BNP Paribas, ING Bank N.V., Dublin Branch, Société Générale and The Bank of Nova Scotia in connection with a secured $335 million debt facility.

Las acciones de Industrias Peñoles se desplomaron 11.46 por ciento este día después presentar sus resultados al segundo trimestre del año, que fueron desfavorables para la compañía en materia de ventas, flujo operativo y una pérdida neta derivado de la caída en los precios de metales.