Month: June 2025

In Mexico City, a Federal Labor Court ruled that the Tizapa Mining Company’s actions caused a nine-month strike by Section 219 of the National Mining Union. The court ordered the company to pay full back wages and address contract violations. The union, led by Napoleón Gómez Urrutia, hailed the ruling as historic, citing the company’s refusal to share profits and ensure safety.

Santacruz Silver Mining Ltd. reported strong Q1 2025 results, with revenues up 34% to $70.3M, gross profit soaring 6882% to $27.9M, and adjusted EBITDA rising 2202% to $27.5M. Despite a 93% drop in net income, cash reserves grew 706% to $32.5M. Silver equivalent production fell 5%, but costs per ounce decreased significantly. The company maintains a robust financial position.

Odyssey Marine Exploration, Inc. has advanced its PHOSAGMEX joint venture with Capital Latinoamericano by transferring mining concession rights, aiming to establish a domestic fertilizer supply for North American food security. Despite failing to pass proposals for increasing authorized shares and a reverse stock split at its June 9, 2025, stockholder meeting, Odyssey’s strategy remains unaffected. CEO Mark Gordon will discuss progress at the Emerging Growth Conference on June 17, 2025.

Vizsla Royalties Corp. completed the acquisition of an additional 3.0% NSR on the Panuco-Copala Silver-Gold Project in Sinaloa, Mexico, for US$40 million, increasing its total NSR to 3.5% on the Silverstone Concessions. The company also closed a C$63 million bought deal offering of 31.51 million common shares at C$2.00 each to fund the transaction and general corporate purposes.

GoGold Resources Inc. released its fourth annual Sustainability Report, highlighting its ESG achievements for 2024. Key points include a 95% water recycling efficiency at Parral, an 11% reduction in carbon footprint (0.005 tCO2e per silver equivalent ounce), and $17.6 million in local purchases. The company earned ESR and ELSSA distinctions and supported local communities with infrastructure, food, education, and medical aid.

Vizsla Royalties Corp. has completed the acquisition of an additional 3.0% NSR royalty on the Panuco-Copala Silver-Gold Project in Sinaloa, Mexico, for US$40M, increasing its total NSR to 3.5% on the Silverstone Concessions. The company also raised C$63M through a bought deal offering of 31.51M common shares. The transaction awaits final TSX Venture Exchange approval.

Silver Storm Mining Ltd. has up-listed from the OTC Pink Market to the OTCQB Venture Market, with its common shares now trading under the symbol SVRSF. The shares continue to trade on the TSX Venture Exchange (SVRS) and Frankfurt Stock Exchange (SVR). The company owns advanced-stage silver projects in Mexico, including the La Parrilla Silver Mine Complex and the San Diego Project.

Torex Gold Resources Inc. released its 2024 Responsible Gold Mining Report, emphasizing its commitment to safety, environmental, social, and governance performance. Despite the tragic loss of four workers, the company achieved full compliance with global standards, reported zero environmental incidents, invested $3.5M in community development, and recycled 58% of water and 60% of non-mineral waste. The report is available at www.torexgold.com.

Sandstorm Gold Ltd. announced exploration updates from its royalty portfolio. First Majestic discovered the high-grade Santo Niño vein at Santa Elena, Mexico, boosting the district’s potential. Lundin Gold expanded its 2025 drilling at Fruta del Norte, Ecuador, to 108,000 meters, targeting high-grade zones. Entrée Resources reported strong copper-gold results at Hugo North Extension, Mongolia. Awalé Resources confirmed high-grade gold at Odienné, Côte d’Ivoire. Omai Gold Mines and Troilus Gold also reported significant gold intercepts in Guyana and Quebec, respectively.

Equinox Gold Corp. updates 2025 guidance due to its merger with Calibre Mining and slower ramp-up at Greenstone Mine. Pro forma production is set at 785,000–915,000 ounces of gold, with total cash costs of $1,400–$1,500/oz and all-in sustaining costs of $1,800–$1,900/oz, excluding Valentine and Los Filos. Greenstone’s production is revised to 220,000–260,000 ounces. A conference call is scheduled for June 12.