The Company intends to use the net proceeds of the Private Placement to conduct exploration work on its Tombstone CRD silver-gold-lead-zinc-copper project in Arizona and its Cervantes Porphyry gold-copper project in Mexico, and for general working capital purposes including repayment of working capital loans from two insiders and a strategic investor.
Mr. Ralph Shearing, Telson’s CEO and President states ” Telson’s management is extremely pleased to have gained the major financial support of Accendo Banco and upon closing of the US$12 Million loan facility, the Company will be in a position to advance its 100% owned Tahuehueto gold mine towards the completion of construction which we strive to achieve in early 2021.
Shareholders voted in favour of all items of business, including the election of each director nominee by show of hands.
“We have a special opportunity at Silver City to put the first drill holes into an historic high-grade silver district,” stated Ben Pullinger, SVP Geology.
“Now that Oroco is quoted on the OTCQB and is DTC eligible, it is significantly easier for U.S.-based investors to participate in Oroco’s share ownership,” said Oroco CEO Craig Dalziel. “This is an important step in increasing the Company’s exposure to the U.S. investment community.”
Five developers have handed in proposals for early stage geothermal project financial support from the Mexican Geothermal Financial Program managed by INEEL and funded by the Inter-American Development Bank.
Proceeds from this financing will be used for working capital purposes, including corporate development expenses.
Fresnillo plc recontratará a 130 ex colaboradores de la unidad minera Madero de Peñoles a partir del 18 de junio para que se integren en las unidades de Fresnillo y Saucito.
Candelaria Mining Corp. is pleased to announce that it has entered into a letter agreement with Accendo Banco, S.A. providing the terms under which Accendo will provide a loan facility for US$9 million. Funds advanced under the facility will be used for financing construction of the Company’s Pinos project and working capital purposes.
The Amendment Agreement accelerates the due date for the final $1.5 million option payment to Vista and provides for an additional $2.1 million payable to Vista in lieu of being granted certain royalties and back-in rights.
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