Month: November 2021

Santacruz Silver Reports Third Quarter 2021 Financial Results

Carlos Silva, CEO of Santacruz, stated; “We continue to increase our mine production and revenue for the third and fifth consecutive quarter respectively. Production costs were impacted as a result of a Mexican labour reform that came into effect during the quarter. This labour reform required the Company to recognize certain labour liability accruals for their employees, including but not limited to vacation, holiday bonuses, annual bonuses, savings funds, and seniority departure payments which totaled approximately $1.3 million.”

Discovery Reports Preliminary Economic Assessment on Cordero with After-Tax NPV of US$1.2 B, IRR of 38% and Payback of 2.0 Years

Taj Singh, President and CEO, states: “With annual AgEq production averaging more than 26 Moz over a +15-year mine life we believe this PEA clearly positions Cordero as a Tier 1 silver asset. This impressive scale of production is achieved through modest development capex of $368 M and returns excellent margins with AISC averaging less than $12.50/AgEq oz over the life of the mine.”

Silverton Metals Corp. Obtains a Surface Access Agreement for the Pluton Silver-Zinc Project, Durango, Mexico

Mr. John Theobald, President & CEO of Silverton, comments, “I am pleased to have successfully concluded a three-year access agreement for Pluton. The district is a major hydrothermal system with excellent potential to locate high-grade silver-zinc manto-chimney deposits similar to those mined in the historic Ojuela Mine and the nearby Platosa mine, which is Mexico’s highest-grade silver mine with a silver equivalent grade of over 1,000g/t.”

MAG Silver Closes US$46 Million Common Share Offering

MAG intends to use the net proceeds of the Offering to fund exploration on Juanicipio and its other projects including Deer Trail, and to fund certain sustaining capital requirements at the Juanicipio Project not included in the initial project capital estimates, and for working capital and general corporate purposes.

Agnico Eagle and Kirkland Lake Gold Shareholders Approve Merger

“I would like to thank our shareholders and the shareholders at Kirkland Lake Gold for supporting the merger of the two companies. We are very excited about the transaction as it positions Agnico Eagle as the leading low risk global gold company with growing production, low costs and strong ESG leadership,” said Sean Boyd, Agnico Eagle’s Chief Executive Officer.

Major Drilling Group International Inc. is one of the world’s largest drilling services companies primarily serving the mining industry. Established in 1980, Major Drilling has over 1,000 years of combined experience and expertise within its management team alone.

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