“We are expecting a 35% increase in silver production relative to 2020 and record gold production in 2021, despite our assumption that COVID-19 will continue to have an impact on operations,” said Michael Steinmann, President and Chief Executive Officer of Pan American.
“This is the first year of a multi-year growth phase for Capstone that will target 40% higher production with 15% lower costs by 2022, compared to last year’s guidance,” said Darren Pylot, President and CEO. “In the coming weeks, we will close the $150 million silver stream announced last month with Wheaton Precious Metals and it will allow Capstone to become debt free in 2021, while operating in this strong copper price environment.”
The Private Placement remains subject to acceptance of the TSX Venture Exchange and is expected to close immediately prior to or concurrent with the Company’s acquisition of the El Cubo mine and mill complex.
Taj Singh, President and CEO, states: “We anticipate 2021 will be a transformative year where we firmly establish Cordero as one of the few silver projects globally that offers margin, size and scaleability. Our focus is to both de-risk the Project by delivering a technically robust PEA, and to deliver resource growth, by expanding known zones and making new discoveries.
“Substantial increases in mineral reserves and resources support my belief that South Arturo has the potential to grow for years to come,” Ewan Downie, President and CEO of Premier Gold Mines.
“Mexus continues mining at the Mexus III area where a potent shear zone is being followed. Assayed results are showing between .7 to 1.3 g/t Au with approximately 600 tons a day being moved to the crushing plant. Leaching continues to produce .2 to .35 ppm Au at 60 gpm producing 3 ozs per day which is expected to double by February 1st.”
Consolidated Zinc Limited is pleased to announce its 100% owned subsidiary, Minera Latin American Zinc SAPI de CV has executed an agreement with Industrias Penoles S.A. de C.V. to reduce the transport costs/allowances of Plomosas concentrate delivered and sold to Penoles under an extended offtake agreement for the sale of 100% of the Plomosas zinc concentrate.
“We are very pleased that Jill has joined MAG.” said George Paspalas, President and CEO. “Jill brings excellent relevant corporate secretarial experience to us, which will be instrumental as we continue to add value for our shareholders and continually improve our corporate governance.”
The proceeds of the Private Placement are to be used for exploration and advancement of the Company’s Las Minas Project, payment of outstanding invoices, and for general working capital.
“Silver Spruce now has experienced boots on the ground at our large grassroots property in a very productive region only two kilometres from our El Mezquite property and adjacent to Minera Alamos’ Santana project. We have maintained technical continuity in our Sonora-based geological team which started working this past week on the Jackie property,” said Greg Davison, Silver Spruce VP Exploration.”
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