San Marco Arranges $500,000 Non-Brokered Private Placement
January 20, 2020
Proceeds of the private placement will be used for funding exploration of the Buck property and working capital.
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Proceeds of the private placement will be used for funding exploration of the Buck property and working capital.
During 2019, the El Castillo Complex and La Colorada mine production totaled 131,277 GEOs and 55,338 GEOs, respectively.
“2019 was a pivotal year for New Gold as we began the journey to reposition the company for long-term success and sustainable shareholder value creation. We are encouraged by the progress we have made in 2019 as we delivered on all our key commitments, including stabilizing operations and completing substantially all deferred construction capital at the Rainy River Mine, advancing the development of the New Afton C-zone, improving our balance sheet and achieving annual production guidance,” stated Renaud Adams, CEO.
“Coeur’s operations delivered solid gold production in 2019, highlighted by a strong second half of the year,” said Mitchell J. Krebs, Coeur’s President and Chief Executive Officer. “Palmarejo was our best performing operation last year, while Kensington’s gold production increased 12% year-over-year. Wharf’s gold production was 58% higher in the second half of 2019 compared to the first half, leading to a 10% year-over-year production increase.”
“We would like to recognize the collaboration of the local community and the Mexican authorities with our team which has allowed us to reach this significant milestone in a timely fashion. This year will be an exciting one as we build and commission our first gold mine and complete the transformation of the Minera Alamos into a new gold producer. “ Stated Darren Koningen, CEO of Minera Alamos.
“Discovering an entirely new vein that has never previously been mapped, sampled or historically mined indicates the exploration potential that exists within the Panuco district” Vice President of Exploration, Charles Funk commented.
“During Q4 2019 we achieved higher production compared to Q3 2019, due to the higher grades at the Avino Mine achieved during the month of November as a result of a mine sequence that included a significant portion of a geological gold lens within the Avino mine resulting in higher gold grades sent to the mill and ultimately, recovered,” said David Wolfin, President and CEO.
Darren Pylot, Capstone’s President and CEO said, “Our exploration team continues to push the boundaries at Cozamin. After 13 years since we started mining, we continue to surface incredible value for all stakeholders with the drill bit. These results will ensure that this mine will remain a first quartile cost, cornerstone asset well into the future.”
President, Lawrence Page Q.C. stated “The results of this most recent test work demonstrate a process to derive increased value from silver, lead and zinc, the prevalent metals identified in the CLM deposit. This is a significant milestone in that we have advanced a viable Cu-Pb-Zn processing flowsheet with no fatal flaws and increased the overall value of the resulting concentrates compared to the earlier batch test work.”
The hard work in 2019 has positioned us for another exciting year in 2020. Our Exploration Team pushes forward on aggressively completing in-fill drilling for resource conversion to reserves; expanding on recent discoveries; and increasing our geological knowledge of the district for potential additional discoveries.
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