Millrock Announces Private Placement Financing
January 31, 2020
Millrock Resources Inc. announces that it plans to raise gross proceeds of $1,000,000 through a non-brokered private placement of 8,333,333 units at a price of $0.12 per Unit.
Millrock Resources Inc. announces that it plans to raise gross proceeds of $1,000,000 through a non-brokered private placement of 8,333,333 units at a price of $0.12 per Unit.
Bradford Cooke, Endeavour CEO, commented, “We are forecasting better performance from our operating mines in 2020, with a slight decrease in consolidated production due to the suspension of mining at El Cubo complimented by lower operating costs at Guanacevi, Bolanitos and El Compas, which should decline through the year as productivity improves.”
Red Cloud is a “new concept” capital markets advisory firm dedicated to the mining sector. It uses its global network of capital markets specialists and extensive experience in the many facets of the business to help companies identify alternative sources of capital and quality actionable growth/divestiture opportunities, and to generate and maintain important relationships with key investors.
First pass rock chip results of outcrops and old workings returned exciting results with grades up to 61.0g/t Au, 27.5g/t Au and 7.42g/t Au, with the highlights presented in Table 1 below. Refer to Table 2 for the results of rock-chip samples.
“We are pleased to add this high-grade project to our portfolio,” stated Darrell Rader, President and CEO of Minaurum Gold. “Historical data shows that the project has never been drilled deeper than 135 m and some of the deepest holes stopped in mineralization. Our due diligence found evidence that past exploration and current mining targeted only the highest levels of a substantial epithermal gold and silver system. We will permit and drill several deep holes in 2020 to test our geological model.”
“We are excited to see the first drill program at Scarlet return very encouraging results including twenty-four meters of over one-gram per tonne gold starting just one and a half meters from the surface,” stated Mr. Barry Devlin, Vice President of Exploration.
Bradford Cooke, CEO of Endeavour, stated, “Our exploration programs were successful last year in outlining new brownfields discoveries at three of our mines and projects in Mexico. We expanded the measured and indicated resources at Guanacevi and Parral and increased inferred resources at Guanacevi, Bolanitos and Parral. Our reserves declined at Guanacevi but increased at Bolanitos and El Compas.”
Octavio Alvídrez, Chief Executive Officer, said: “Silver and gold production is up on the previous quarter as we begin to see the impact of our performance improvement plan, which includes intensive infill drilling to improve the certainty of the geological model, dilution control and raising development rates, together with actions to address contractor productivity and equipment availability. Full year silver and gold production is in line with our updated guidance.”
Philip O’Neill, CEO of Mexican Gold, stated, “New Found Gold’s maiden drill results are encouraging. The Queensway Gold Project demonstrates the potential for a significant near-surface discovery in a friendly, easily accessible mining jurisdiction. The resulting company will be very well capitalized to further explore and undertake multiple drill campaigns on the Queensway Project. We will also be well funded to further advance our Las Minas project in Veracruz, Mexico.”
Carlos Silva, Santacruz’s COO, stated, “Santacruz had a record year in 2019 producing 2.8 million silver equivalent ounces following the successful acquisition and integration of Carrizal Mining. In addition to this transformative event, the Veta Grande and Rosario mines increased their annual production substantially, while at the same time maintaining significant development activities and advancing exploration plans as a pathway to keep improving our production at all mines and expanding mine resources.”
“After suspending Campo Morado mining operations during August 2019 we are very pleased to be in a position to inform shareholders that improving metal prices and improved community relations have allowed us to resume full scale mining operations to re-initiate concentrate sales and cash flows” states Antonio Berlanga, CEO, “with the mine back in production the local community of Arcelia will once again have a major source of employment available and will benefit from the renewed economic activity.”
Jonathan George, CEO, comments, “These excellent results showing widespread gold and copper mineralization over such a large area are very encouraging, and provide compelling targets for drilling to test the extent of mineralization at depth.”
Equinox Gold Corp. and Leagold Mining Corporation are pleased to announce that both Equinox Gold and Leagold shareholders approved all matters voted on at their respective special meetings of shareholders held earlier today, approving the transaction announced on December 16, 2019 to combine the companies, creating one of the world’s top gold producing companies operating entirely in the Americas.
“Our 2019 exploration program in Mexico was highly successful at both of our mining operations,” stated Jeffrey Mason, Interim President & CEO. “This is already translating into growth in production and cash flow, with record silver equivalent production at the Topia Mine in 2019.”
“We mined a record 74,876 tonnes from Platosa in 2019, the most in our 15-year operating history,” stated Brendan Cahill, President and CEO. “At Miguel Auza, we processed record tonnage of 89,478 tonnes for the year and 26,226 tonnes for Q4 from Platosa and Hecla’s San Sebastian Mine, demonstrating continued scalability in the milling operation. During the fourth quarter, flow sheet upgrades resulted in improved silver recoveries of over 91.7%. We expect zinc recoveries to further improve with ongoing upgrades.”
Plata Latina Minerals Corporation is pleased to announce that through its wholly-owned subsidiary Plaminco S.A. de C.V., it has entered into an Agreement of Assignment of Mining Concessions with Minera Argentita Exploracion, S. de R.L. de C.V., a wholly-owned subsidiary of The Electrum Group, with respect to Plata Latina’s three exploration properties in Mexico, which include Vaquerias, Palo Alto and La Joya.
Mexus Gold US announced that additional material from the Julio vein has been crushed and placed on the heap leach pad. Leaching on the pad has been continuous since 1/16 with results of .26gpt to .45gpt of pregnant solution returning to the pond. Additional increased values from this new material should start returning to the pregnant pond by 1/28.
“La Minera Fresnillo PLC tiene como política la sustentabilidad, pues es una empresa dedicada a la exploración, explotación y beneficio de minerales, y está comprometida con garantizar un lugar seguro y saludable para su personal y su entorno, estableciendo buenas relaciones con las comunidades vecinas”, expresó Gerónimo Javier Medina Triana, superintendente de Relaciones con la Comunidad del distrito Fresnillo, del grupo Fresnillo-PLC.
The proposed acquisition has continued to progress with formal documentation now completed with the execution of a Share Sale Agreement for the acquisition by Mithril of all issued share capital of Sun Minerals today.
La coordinación entre ambas instituciones ha servido para enviar personal a laborar a la mina.
“2019 was a trying year for our Mercedes Mine” stated Ewan Downie, President and CEO of Premier. “However, we believe that we understand the challenges faced by the mine this past year and have a plan in place to address them. We believe our continued exploration successes at Mercedes and the resumption of mining at South Arturo will contribute to production for years to come and provide a platform for our Company’s growth”.
Richard C. Adkerson, President and Chief Executive Officer, said, “During 2019, we progressed three major initiatives to enhance future cash flows and value for our shareholders. We are on schedule to establish large-scale production from our high-grade, low-cost and long-lived underground ore bodies at Grasberg; the Lone Star project in Arizona is nearing completion; and early results from our innovation initiatives to enhance productivity at our operations in the Americas are positive.”
“Continuing to thrive in our next 100 years will require strong and transparent corporate governance, responsible environmental stewardship, and a diverse and inclusive workplace that allows us to attract and retain top talent,” said Tom Palmer, President and Chief Executive Officer.
Igor Gonzales, President and CEO of Sierra Metals, commented:“I am very pleased with the Company’s strong Q4 production results, which contributed to a solid year of production in 2019. The Company continues to reap the benefits of the successful operational improvement programs at all Mines.”
Westminster Resources Ltd. is pleased to announce that Ms. Rachel Chae (CPA, CGA) has been appointed as the Company’s new Chief Financial Officer and Corporate Secretary.
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