The Company plans to use the net proceeds of the Offering to expand the Las Chispas resources and reserves through further drilling, to optimize the mine and processing plant design, to explore regional targets, and for general working capital purposes.
“The exercise and expiry of these warrants is a significant positive event as it bolsters our cash position and eliminates the selling pressure typically experienced with warrant expiration. In the last six weeks 18 million warrants were exercised. With a cash balance of nearly $100M Discovery is in a solid position to rapidly advance the Cordero project, one of the largest undeveloped silver assets in the world, at a time when silver demand is very strong and sizeable development assets are in short supply.”
GR Silver Mining President and CEO, Marcio Fonseca, commented, “We are excited to be undertaking the first major geophysical investigation of the San Marcial Project. The ground based survey of 3D IP and magnetometry will assist our technical team to better understand the underlying geology, map key structures – particularly those not apparent at surface – and to identify potentially mineralized zones both in the vicinity of the San Marcial Ag resource as well as on some of the key target areas identified by the Company over the past two years…”
Peter J Hawley, CEO, President states; “On behalf of Fabled, I would like to thank our loyal shareholders for their support and early exercise of warrants. Not only does this strengthen our treasury but will allow us to expand the current 8,000-meter drill program on the Santa maria Property, if warranted.”
The CLG process plant will resume operation early this week upon completion of the previously accelerated maintenance activities that commenced during the temporary power restriction in Northern Mexico. Given the expedited restoration of full grid power, the outage has had minimal impact on the Company’s mining and processing activities.
El 48.3% de la electricidad que necesita la mina La Herradura, ubicada en Caborca proviene de energías limpias como la eólica y la solar, según informó la empresa propietaria Fresnillo PLC, con lo cual, a través de su estrategia de sustentabilidad reitera su compromiso con el cuidado del medio ambiente.
“With a current net cash position, this transaction gives Capstone one of the strongest balance sheets amongst its peers,” said Darren Pylot, President & CEO of Capstone. “Additionally, we are expecting around one billion dollars of after-tax operating cash flow over the next three years in the current $4.00 copper price environment. We look forward to strengthening our partnership with Wheaton as we continue advanced discussions for a potential gold stream on Santo Domingo.”
Ranjeet Sundher, Brigadier’s CEO commented: “We continue to make excellent progress at Picachos, although we have only just started to evaluate the potential of this extensive mineralized system. The additional rig will help considerably in accelerating our investigating the many high priority existing and newly identified targets on the Property…”
“The commercial validation of our TARGET software is yet another indication of the power of Minerva’s Cognitive AI-powered software,” said Scott Tillman, CEO of Minerva Intelligence. “The successful deployment of our TARGET software highlights the value we are able to provide to companies that are managing large datasets and seeking to incorporate an artificial intelligence element into the decision-making process. Our success with Giga in Brazil, in conjunction with our recent success in Mexico, points to even greater success in the future in delivering results for mining and exploration companies around the world.”
Gatos Silver, Inc. reports that power from Mexico’s national power grid has been restricted due to the recent severe winter storms in Texas. Northern Mexico is highly dependent upon natural gas from Texas to generate power.
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