Day: February 6, 2020

Consolidated Zinc Limited advises that its 100% owned Mexican subsidiary, Minera Latin American Zinc S.A.P.I de C.V. has succeeded in legal action to end the intimidation and excessive actions of Caminos y Construcciones Ganti S.A. de C.V.

Igor Gonzales commented, “This settlement is part of a corporate strategy to reduce the risk profile of Sierra Metals in a cost-effective way. As we had consistently disclosed in our financial statements, we believe that the Polo y Ron claim was without merit and Sierra Metals vigorously defended its position by applying the proper legal resources necessary.”

Proceeds of the private placement will be used for funding exploration of the Buck property and working capital.

Aura Minerals Inc. is aware of media reports in Brazil that the Company is planning on a dual listing by raising capital in the Brazilian Equity market.

“With a three-fold increase in drilling metres planned for 2020, we are working to capitalize on Tucano’s exploration potential,” stated Jeffrey Mason, Interim President & CEO.

The net proceeds from the sale of the Units issued under the Offering will be used by the Company for development and permitting activities at its Canadian gold projects, as well as for general working capital purposes.

“2019 was a tale of two halves where the second half had higher production, higher prices, better earnings and more cash flow,” said Phillips S. Baker, Jr., President and CEO. “The strong third and fourth quarters markedly improved our financial condition, putting us in a better position to refinance the Senior Notes.”