Month: April 2023

Mexican Senate Expeditiously Approves Set of Laws, Mining Reform

Representatives of the president’s Morena party and its allies, nearly unanimously and with little debate, approved the laws in a fast-tracked process without opposition legislators present. Legislators convened outside the chamber’s usual voting location after the opposition occupied the chamber to try to prevent the session.

Agnico Eagle Reports First Quarter 2023 Results – Strong Operational Results with Record Safety Performance; Optimization Activities Progressing Well in the Abitibi Gold Belt; 202 Sustainability Report Released; Yamana Transaction and San Nicolas Joint Venture Transaction Closed

“The year is off to a good start with strong operational results and the best quarterly safety performance in the Company’s over 65-year history, which positions us well to meet our full year guidance projections. Costs were better than expected, primarily due to the strong operating results, favourable currency movements and a slight easing of inflationary pressures,” said Ammar Al-Joundi, Agnico Eagle’s President and Chief Executive Officer.

Argonaut Gold Announces Upsize of Bought Deal Private Placement of Flow-Through Shares to C$17.5 Million

Argonaut Gold Inc. is pleased to announce that it has amended the agreement with a syndicate of underwriters led by Scotiabank and Cormark Securities Inc. pursuant to which the Underwriters have agreed to buy on a “bought deal” private placement basis, subject to a right to substitute purchasers, for aggregate gross proceeds of approximately C$17.5 million, as follows: (i) 6,613,800 common shares of the Company to be issued as “flow-through shares” with respect to “Canadian exploration expenses” at a price of C$0.756 per CEE Flow-Through Share for gross proceeds of C$5,000,033; and (ii) 18,656,800 common shares of the Company to be issued as “flow-through shares” with respect to “Canadian development expenses” at a price of C$0.67 per CDE Flow-Through Share for gross proceeds of C$12,500,056.

Canasil Announces Delay in Filing Year End Reporting Requirements

Canasil Resources Inc. announces that it has made an application to the British Columbia Securities Commission to approve a temporary management cease trade order under National Policy 12-203 Management Cease Trade Orders which, if granted, will prohibit trading in securities of the Company by the chief executive officer and chief financial officer of the Company until such time as the Required Filings and all continuous disclosure requirements have been filed by the Company, and the MCTO has been lifted.

Colibri Expands The Main Zone At Evelyn – Drills 0.47 g/t Au Over 29m Including 0.97 g/t Au Over 6 M

Ron Goguen, President & CEO of Colibri commented, “The results continue to demonstrate the potential of the Evelyn property. We have stepped out down dip and have demonstrated continuity of longer mineralized intersections at the Main Zone. With our increased understanding of the Main Zone geology and mineralization, we have expanded our search to the north to explore under alluvial cover.”

Pan American Silver Corp. Announces Consent Solicitations with Respect to Yamana Gold Inc.’s 4.625% Senior Notes Due 2027 and 2.630% Senior Notes Due 2031

Pan American Silver Corp. today announced that Yamana Gold Inc., a wholly-owned subsidiary of Pan American, has commenced consent solicitations with respect to certain proposed amendments to the indenture, dated as of June 30, 2014, as supplemented in relation to Yamana’s 4.625% Notes due 2027 by the Fourth Supplemental Indenture, dated as of December 4, 2017 and the Base Indenture, as supplemented in relation to Yamana’s 2.630% Senior Notes due 2031 by the Seventh Supplemental Indenture dated as of August 6, 2021.

Newmont Delivers on First Quarter 2023 Expectations, Remains on Track to Achieve Full Year Guidance; Declares $0.40 First Quarter Dividend

“Since transforming Newmont’s business four years ago, we continue to lead the gold sector in sustainability, profitable gold production and shareholder returns due to the strength of our team and the quality of our world-class portfolio. During the first quarter, we delivered on our expected results, generated nearly $1.0 billion in adjusted EBITDA and returned $318 million to shareholders through our industry-leading dividend framework. We remain on track to achieve our full year guidance ranges and build upon our track record of safely delivering long-term value to all of our stakeholders through sustainable and responsible mining.”

Pan American Silver Announces 2023 Production and Cost Guidance

“The 2023 guidance is in line with our expectation for a material increase in silver and gold production together with lower consolidated operating costs following the acquisition of Yamana, indicative of the accretive nature of the transaction,” said Michael Steinmann, President and Chief Executive Officer of Pan American.

Luca Mining Announces First Tranche Closing of CAD$18.34 Million

Luca Mining Corp. is pleased to announce that it has closed the first tranche of its non-brokered private placement announced by news release dated March 31, 2023. The Company has sold 52,412,065 units of the Company at a price of CAD$0.35 per Unit for gross proceeds of $18,344,223.

Alamos Gold Reports First Quarter 2023 Results

“Following up on a strong performance in 2022, we had an excellent start to the year operationally and financially. Production exceeded our first quarter guidance and costs were once again in line with guidance. All three operations continue to perform well, including another standout performance from La Yaqui Grande, the key driver of our expected production growth and decrease in costs this year,” said John A. McCluskey, President and Chief Executive Officer.

Layne, A Granite Company, provides sustainable solutions for water resources and mineral exploration. Originally established in 1882, Layne offers a rich history of delivering safe, professional, and reliable water and minerals solutions throughout North and South America. Granite acquired Layne and its subsidiaries in the fall of 2018, to further Granite’s strategy to grow through acquisition and diverse end market expansion.

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Maza Drilling is a Mexican company established in 2007 in Mazatlán, Sinaloa. Our Canadian founder, Mr. Guy de Launiere, has over 20 years of international experience managing diverse drilling operations. Maza Drilling strives to compete at the highest levels in terms of recovery, effectiveness, efficiency, and affordability at every project while keeping at the forefront of technology to meet our customer’s needs in this demanding market.