Almadex Minerals Ltd. (“Almadex” or the “Company”) (TSX-V: “DEX”) is pleased to announce that it has closed its previously announced non-brokered private placement with the issuance of 5,400,000 units at $0.25 per Unit.
Production rebounded during Q3 after the successful restart of all four of our operations, which were temporary suspended during Q2, largely due to actions taken to prevent the spread of COVID-19 amongst our workers, business partners, and communities.
The proceeds from the Private Placement are expected to be used by the Company to purchase underground equipment for its Zimapan property and for general working capital and corporate purposes.
“After losing production as a result of COVID-19 pandemic government mandatory shut down earlier this year and dealing with operational difficulties largely related to the SAG mill failures, with the new liner design fully installed and performing above expectations, we now have Campo Morado Mine operating at full capacity and achieved a very good month of production in September”, states Ralph Shearing, president and CEO of Telson.
Con su Programa de Manejo y Vigilancia Ambiental (PMVA), la unidad minera ha logrado el rescate y reubicación de 24 especies vegetales nativas o endémicas de la región. Entre ellas destacan el 100% de las cactáceas, presentes en el sitio, que son fundamentales como alimento y abrigo para el caso del berrendo sonorense y demás fauna nativa local.
Gold Resource Corporation reports preliminary record Nevada gold production results for the third quarter ended September 30, 2020, which contributed to consolidated production of 12,575 gold ounces, 333,761 silver ounces and significant base metals. Nevada gold production increased by 51% as the production ramp up phase continues.
Tarachi President and CEO, Lorne Warner stated “This potential acquisition offers Tarachi an opportunity to crystalize the value that these high gold prices offer. The Company will now have both high-grade gold exploration projects in the Mulatos gold belt of Sonora as well as potential cash flowing tailings operation in Durango.”
“We are enthusiastic about the prospect of working with the Silver Spruce team on the Jackie Gold project. This is the second project that they have taken a 50% interest in with us in less than six months. Their commitments to earn 50% of each of these projects significantly reduces Colibri shareholder’s exploration risk, eliminates near term dilution of shares to provide funding for these two projects and also provides Colibri additional cash and equity upside.”, states Ron Goguen, President & CEO of Colibri.
“Our operations team performed exceptionally well in Q3 in all areas, managing the restart and delivering record mined tonnage from Platosa, while keeping our people safe through the threat of COVID-19,” stated Brendan Cahill, President & CEO.
Greg McKenzie, President and CEO commented, “We are excited to commence exploration on the Company’s 100% owned San Diego Project, host to one of Mexico’s largest undeveloped silver deposits and a prime candidate for resource expansion. San Diego is located in a highly prospective geologic setting, approximately 2 kilometres northeast of the Peñoles El Cobre Project, which has nearly 100 drill pads and recently moved into the engineering phase with optimization studies underway.”
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