The Company intends to use the net proceeds of the Offering to continue exploration work on its Kwai property in the Red Lake mining district and for general working capital.
The RC drilling program at the Alacrán Project has been suspended with 36 holes completed for 3,604 meters. The best gold intersections include hole MDPC-143: 126.0m @ 2.0g/t Au from 1.5m; including 34.5m @ 3.9g/t Au.
Aura Minerals Inc. today provided an update regarding the interruption of operations at its San Andres Mine in Honduras in response to COVID-19 which Aura first announced on March 29, 2020.
The net proceeds of the Offering will be used for working capital and drilling on the Evelyn and El Mezquite projects.
Preliminary first quarter production from the Company’s Oaxaca Mining Unit totaled 6,450 ounces of gold, 402,542 ounces of silver, 488 tonnes of copper, 2,514 tonnes of lead and 5,844 tonnes of zinc.
The Company intends to use the net proceeds for working capital and for other general corporate purposes, including continuing to advance its Rodeo and Velardeña properties in Durango, Mexico.
Excellon President & CEO Brendan Cahill stated: “We are grateful for the strong support of our shareholders for our acquisition of Otis Gold and look forward to realizing the opportunity we see in the Kilgore Project. The world has changed since we announced this transaction, but gold has played its role as the ultimate store of value and wealth, increasing in value against an historically unsettled period in the broader market. We wish everyone the best of health and a return to everyday life as soon as possible.”
Bacanora Lithium plc, a lithium exploration and development company, is pleased to announce that Mr. Graeme Purdy has been appointed as an independent Non-Executive Director of the Company with immediate effect.
Fred Davidson, CEO of IMPACT comments, “We welcome a strategic investor group for the full allotment of this binding financing. Given these unprecedented times of uncertainty, a stronger balance sheet ensures future growth for all stakeholders as well as offer opportunities and strategic directions on new assets. I want to thank our stakeholders and team for the ongoing dedication to our operation and growth.”
“Telson is very pleased to have received the cooperation of Trafigura in the negotiations to finalize the Letter Agreement thereby obtaining Trafigura’s waiver to a default under the Loan Agreements”, stated Ralph Shearing, Telson’s President & CEO.
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