Day: April 28, 2022

“I am pleased to report that our newly consolidated operations have performed very well in the first quarter of 2022 despite challenges related to COVID-19. Supported by strong metal prices, the first quarter generated solid operating cash flow which allowed the Company to continue to deliver on shareholder returns while paying down debt, and investing in our operations and pipeline projects,” said Ammar Al-Joundi, Agnico Eagle’s President and Chief Executive Officer.

“We would like to extend our gratitude to the syndicate of lenders who provided their support during the construction phase of the Camino Rojo mine. This refinancing significantly lowers our cost of capital, improves our financial strength and provides additional flexibility through increased liquidity,” said Etienne Morin, Chief Financial Officer of Orla Mining.

Our balance sheet remains exceptionally strong with a current cash balance of approximately $60 million and no debt. This puts us in a very strong position to fund all our activities at Cordero in 2022, as well as all necessary work to advance Cordero to a construction decision through the completion of a Definitive Feasibility Study currently scheduled for the second half of 2023.

Coeur’s $240 million investment in exploration over the last five years has led to strong reserve and resource growth with multiple new discoveries and meaningful extensions to mine lives. Infill-focused drilling programs successfully replaced 1.8 million and 56.4 million ounces of cumulative gold and silver production, respectively, and added an additional 0.5 million ounces of gold and 85.4 million ounces of silver reserves.

Pierre Beaudoin, COO, remarked, “Despite the challenges that Omicron posed in January and February, we are extremely pleased that construction remains on schedule as outlined in the Feasibility Study. This was no doubt a challenging first quarter, but we are in a favorable position as we head into the last stretch of construction.”

Fortuna Silver Mines Inc. announced today the acceptance by the Toronto Stock Exchange of Fortuna’s notice to commence a normal course issuer bid to purchase up to five percent of its outstanding common shares.