Month: June 2020

Oroco Closes Non-Brokered Private Placement

The proceeds of the Financing will be used to advance the Santo Tomas Project, including site preparation for an exploration drill program, the acquisition of surface rights and permits, a 3D IP geophysical survey, and general corporate purposes. In addition, certain contingent legal fees relating to the acquisition of the core Santo Tomas concessions are to be paid.

Magna Gold Corp. Announces Settlement of Existing Arbitration Proceedings in Relation to the San Francisco Mine

Magna Gold Corp. is pleased to announce that, further to its news release dated April 24, 2020, its subsidiary, Molimentales del Noroeste, S.A. de C.V. has entered into a definitive agreement with Peal de Mexico, S.A. de C.V. to settle the existing arbitration proceedings between Peal and Molimentales in relation to the Company’s San Francisco gold mine located in Sonora, Mexico.

Valterra Increases Previously Announced Private Placement to $1.4 Million

Net proceeds from the private placement will be used to acquire a private Brazilian company that has a purchase agreement to acquire a 100% interest in the 172 ha freehold Lima Property for a purchase price of Cdn$500,000, as well as initial exploration work in preparation for bulk sampling at Lima, and for general working capital.

Canuc Announces AGM Results and New Director

For compliance reasons, and as a result of his employer’s perceived conflicts, Mr. Kevin Olson was unable to accept his appointment as director of the corporation. As a result, the remaining board members have appointed Mr. Christopher Cheng, P.Eng to fill the vacancy.

Teck Announces New Credit Facility, Closing of Notes Issue and Tender Offer Results

“Teck’s already strong liquidity will be further augmented with these transactions,” said Don Lindsay, President and CEO. “Together with our US$4 billion revolving credit facility that matures in Q4 2024 and our US$2.5 billion project financing facility for QB2, this new US$1 billion facility and the extension of near term debt maturities will give Teck significant liquidity as we complete QB2 and the Neptune expansion project.”

Canasil Prepares to Drill Silver-Gold Targets at the Nora Project in Durango State, Mexico

Canasil President and CEO, Bahman Yamini, commented: “We look forward to starting field operations in Mexico with the drill program at the Nora project. The project is exceptionally well located in a region hosting large silver-gold mines and deposits, and presents the opportunity for discovery of a high-grade silver-gold epithermal vein system. Our local operating team based in the city of Durango will be taking exceptional care to ensure the safe operation of the program under the current circumstances.”

Oretest is a mining exploration drilling contractor based in Mazatlán, Sinaloa, México. The company is managed by Bart Forsyth, with 36 years of extensive drilling experience on most continents with major companies. The company takes great pride in providing high-quality services while making safety a priority. Maintenance, cleanliness, precision and proper drilling habits makes a good safety environment and produces results.

Layne, A Granite Company, provides sustainable solutions for water resources and mineral exploration. Originally established in 1882, Layne offers a rich history of delivering safe, professional, and reliable water and minerals solutions throughout North and South America. Granite acquired Layne and its subsidiaries in the fall of 2018, to further Granite’s strategy to grow through acquisition and diverse end market expansion.