“Uncovering further mineralized breccia zones on surface is the objective of current exploration. Success would be of meaningful geological importance and could have a significant impact on our understanding of structure, as well as on our interpretation of the geological potential at San Javier,” stated Chris Berlet, CEO.
Colibri Resource Corporation announces that it has received a comprehensive report covering its Evelyn Gold Project located in the Caborca Gold Belt in NW Sonora Mexico. The Evelyn is strategically located 25km East of Mexico’s largest open pit gold mine La Herradura, and 9km north east of the Noche Buena Mine.
Capitan has received conditional approval to list the Capitan Shares on the TSXV. Final listing approval will be subject to Capitan satisfying all of the listing conditions of the TSXV, including completion of a financing of at least $2,000,000. In connection with the Arrangement, Capitan has received subscriptions for and intends to complete a non-brokered private placement of approximately 17,500,000 Capitan Shares at a purchase price of $0.20 per Capitan Share for gross proceeds of approximately $3,500,000 concurrently with the Effective Date of the Arrangement.
“The combination of a strong rise in the gold price and record production at our flagship Tucano mine, leading to a substantially lower AISC, drove a significant increase in cash flow from operating activities to a record $19.5 million for the second quarter of 2020,” stated President and CEO Rob Henderson.
Golden Minerals’ President and Chief Executive Officer, Warren Rehn, commented, “With the recent capital raise completed, we have a significant cash balance and are now in an excellent position to fund a start-up of production at the Rodeo deposit early next year, assuming that the results of our confirmatory drilling program are satisfactory and providing we receive the necessary government approvals.”
The Company anticipates closing a second and final tranche of the Financing on or about August 11, 2020, which may include an increase in the overall Financing to 25,645,000 Units for gross proceeds of up to $3,975,000 based on demand.
“Despite the pandemic, Hecla had its second highest quarterly silver production since 2016 which, combined with higher prices, resulted in almost 25% more revenue than a year ago and generated about $27 million of free cash flow,” said Phillips S. Baker, Jr., Hecla’s President and CEO.
“The global COVID-19 pandemic had a significant impact on Q2 results, with all our Latin American operations placed in care and maintenance mode for periods of time during the quarter. Except for our two polymetallic underground mines in Peru, all operations are now back in production under comprehensive health and safety protocols,” said Michael Steinmann, President and Chief Executive Officer.
“Pan American holds one of the world’s largest silver mineral resources and reserves base. Over the past year, we have replaced 76% of the silver and 107% of the gold mined for the 12-month period ended June 30, 2020. Particularly significant gains were realized at La Colorada, La Arena and Shahuindo,” said Christopher Emerson, Pan American’s Vice President of Business Development and Geology.
Vizsla President and CEO, Michael Konnert, commented: “The Napoleon discovery is continuing to grow with hole NP-20-08, significantly extending high grade mineralization to depth. These results have returned both high grades and broad intervals. With the recently closed C$30M bought deal financing, the Company is well positioned to continue with the four drill rigs for the rest of 2020. We are excited to continue expanding the Napoleon discovery and to test our targets to demonstrate the “district scale”, high grade potential of Panuco.”
The Company intends to use the net proceeds from the Offering for exploration, development and general corporate purposes.
“We are very excited that our initial holes on the La Trini deposit have confirmed significant widths of high-grade silver and gold mineralization. The La Trini deposit is a flat-lying zone that outcrops on surface, strikes approximately east-west and dips gently to the north around 20 degrees. These characteristics, combined with the gentle topography, will allow GoGold to rapidly develop the Mineral Resource of the deposit by drilling a series of short holes from surface over the next 4 to 6 months.”
In connection with the name change and rebranding to Gold79, the Company has launched a new website accessible at www.gold79mines.com.
The Company will advise the market of the record date(s) and expected payment date(s) for the Share Division and the BDR Division, as well as other key dates and details in connection with same, in due course.
“We are exploring the attractiveness of creating two companies that would benefit from streamlined property portfolios and a simplified domestic investment thesis”, stated Ewan Downie, President and CEO of Premier.
Jody Kuzenko, President & CEO of Torex, stated: “While this quarter was far from business as usual, we delivered solid operational performance and demonstrated the financial strength of our business even in these most challenging times. Despite the mandated suspension of our operations due to COVID-19, we produced 59,500 ounces of gold, delivered $49.3 million in adjusted EBITDA and $28.1 million in operating cash flow (prior to non-cash working capital).”
Bahman Yamini, President and CEO, commented; “We are very pleased to close this Placement in a short time after it was announced, and thank all the participating subscribers and welcome our new shareholders. We are now fully funded for the planned 2,500-metre drill programs at each of our Nora and La Esperanza silver-gold projects in Durango and Zacatecas States, Mexico, for a total of up to 5,000 metres during the second half of 2020. Drilling is currently in progress at Nora, and will be followed by La Esperanza in September/October 2020.”
“Gold production continued without interruption at South Arturo providing for yet another strong operating quarter”, stated Ewan Downie, President & CEO. “At Mercedes, we have implemented a reduction of plant through-put designed to reduce costs, improve grade and maximise the profitability of the operation”.
Gold surged past the $2,000 mark on Tuesday after Democrats and the White House appeared closer to agreement on new stimulus to help the coronavirus-hit economy while stocks on Wall Street traded mixed as investors awaited more aid from Washington.
Canuc Resources Corporation announces the closing of a non-brokered Private Placement for gross proceeds of $650,000.
Gold Resource Corporation reported consolidated production results for the second quarter ended June 30, 2020 of 7,649 ounces of gold and 191,232 ounces of silver.
In light of ongoing and evolving concerns and issues related to the spread of COVID-19, and in order to mitigate potential risks to the health and safety of its shareholders, employees, communities and other parties, the Corporation is strongly encouraging shareholders and others NOT to attend the Meeting in person to be held on Thursday, August 13, 2020 at 10:00 a.m. (Pacific Time).
Aztec Minerals Corp. is pleased to announce the appointment of Simon Dyakowski as the President and Chief Executive Officer of Aztec. Simon brings to Aztec over twelve years of corporate development and capital markets experience, with an expertise in strategic planning and execution, financing and marketing of exploration companies.
“We had incredible support for this financing from existing, long-term shareholders and we look forward to delivering returns in this developing precious metals bull market,” stated Brendan Cahill, President and CEO.
The proceeds of the financing will be used to undertake Metates metallurgical test work and ongoing regional exploration and for general working capital. There are no finder’s fees or other commissions associated with the Private Placement.
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