Pursuant to the Offering, the Underwriters purchased, on a bought deal basis from the Company and Orion, a total of 68,448,000 Common Shares at a price of C$6.30 per Common Share which included the exercise in full of the Underwriters’ over-allotment option of 8,928,000 Common Shares from the Company, for aggregate gross proceeds under the Offering of C$431,222,400.
Ian McGavney, President and CEO of Colibri states “Doug is a very well-known connector in Mexico and since meeting him several years ago we have been thankful on multiple occasions for his generosity in sharing his long standing industry connections and relevant and up to date local industry insight. We anticipate that our deeper association with Doug will help us to grow deeper roots in Mexico”.
Heliostar CEO, Charles Funk, commented, “Since acquiring Ana Paula 10 months ago, Heliostar’s team has moved quickly to redefine Ana Paula as a high-grade underground gold project. We have successfully increased the resource, identified a >10 g/t gold zone for possible commencement of mining, identified additional resource growth areas, demonstrated significant improvement to gold recoveries, and bolstered the Company’s management team. The Company intends to maintain the current high pace of progress in 2024 by studying the benefits of completing the existing underground decline to test mine a bulk sample.”
Lowell Kamin, Lodestar’s CEO, President and Chairman of the Board stated: “We are looking ahead to the next chapter of Lodestar as we partner with the team at Axiom and explore new opportunities for value creation. Our Peny Project in Snow Lake, Manitoba, has good potential.”
Sierra Madre Gold and Silver Ltd. is pleased to provide an in-depth update of its activities at the 100% owned past-producing La Guitarra Silver-Gold Mine Complex in Estado de Mexico, Mexico, 130 km southwest of Mexico City.
Based on an assessment of existing activities, Fortuna has determined that a significant portion of its current GHG emissions is attributable to the use of diesel to power its operations. Accordingly, Fortuna’s biggest opportunities for reducing GHG emissions are related to electrification, and increased use of renewable energy.
“Development of Media Luna remains on track for first production in Q4 2024 followed by commercial production in early 2025. The successful completion of Media Luna is expected to result in a return to positive free cash flow in mid-2025 as production ramps up and capital expenditures normalize.”
Fabled Silver Gold Corp. wishes to announce that it has mutually terminated its letter of intent with Kootenay Silver Inc. with respect to the proposed acquisition the Mecatona Property, as first announced in its press release dated February 21, 2023.
“We are very encouraged with the exploration results that have been achieved throughout 2023,” stated Keith Neumeyer, President & CEO of First Majestic. “The recent drilling has accomplished multiple goals from highlighting new geologically prospective areas to expanding and further defining known silver and gold mineralization. These results provide the basis for First Majestic’s year-end update of Mineral Resource and Mineral Reserve estimates expected to be released at the end of March.”
“In keeping with our outlook for 2024, as anticipated, the SART Zinc circuit commissioning was finalized at Parral in January, and now we will ramp up the production of zinc and increased precious metals production. We anticipate reaching the average run rate by July of this year when we will fully realize the benefits of the Zinc circuit providing increased free cash flow and production at Parral. The SART Zinc circuit was completed on budget and on schedule,” said Brad Langille, President and CEO.
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