Endeavour Silver Corp. released today its improved cash and debt positions at year-end and the Company’s consolidated operating guidance for 2014 for its three underground, silver-gold mines in Mexico, the Guanaceví Mine in Durango State and the Bolañitos and El Cubo Mines in Guanajuato State.
Mexus Gold US today announced that it has completed the land acquisition and purchase of the San Felix Mine. The final piece was the purchase agreement finalized with the Ejido land owners which the San Felix concessions lay upon. CEO Paul Thompson has worked tirelessly over the last year consolidating this property and tying up all loose ends. Mr. Thompson explained, “Within a short time of forming the Mexus/Trinidad JV we learned there were property right issues on and around the San Felix mine. Those issues are now settled leaving Mexus Enterprise SA de CV in full control of the property and the rights that go along with that control.”
Further to the Company’s news release of November 7, 2013, the Company advises that it has agreed to amended terms regarding its private placement with Global Resources Investments Ltd (“GRIL”). The Company will be seeking to raise $1,000,000 through the sale of 20,000,000 common shares at $0.05 per share.
Today at the World Economic Forum in Davos, Switzerland, Teck Resources Limited was recognized as one of the Global 100 Most Sustainable Corporations for 2014 by media and investment research company Corporate Knights. Teck was the only mining company named to this year’s Global 100 list. This is the second straight year Teck has been included on the list.
Orestone Mining Corp. is pleased to announce that it has signed a five year option agreement with Kootenay Silver Inc. to earn a 60-per-cent interest in the 700 hectare Estrella de Oro gold exploration property located in Sonora State, Mexico approximately 200 kilometers southeast of the city of Hermosillo.
Santa Fe Metals Corporation announces that, subject to regulatory approval, it has entered into a share exchange agreement with Global Resources Investments Ltd, an arm’s length party to the Company.
Torex Gold Resources Inc. has announced today that it has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets, under which the underwriters have agreed to buy on a bought deal basis by way of a short form prospectus, 104,200,000 units each unit consisting of one common share and one half of one common share purchase warrant, at a price of C$1.20 per Unit for gross proceeds of C$125,040,000. Each whole common share purchase warrant will entitle the holder to purchase one common share of the Company at a price of C$1.50 prior to the date which is 6 months following the closing of the Offering. The Company has granted the Underwriters an option, exercisable at the offering price for a period of 30 days following the closing of the Offering, to purchase up to an additional 15% of the Offering to cover over-allotments, if any. The Offering is expected to close on or about February 12, 2014 and is subject to the Company receiving all necessary regulatory approvals.
VVC Exploration Corporation announces that it expects to close, by the end of the month, a Private Placement Financing of up to $1.5 million representing 30 million units at a price of $0.05 per Unit. Each Unit consists of one common share and one common share purchase warrant of the Company. Each Warrant entitles the holder to purchase one additional common share of the Company at $0.12 per share for the first 2 years and at $0.18 for years 3, 4 and 5. The net proceeds will be used to maintenance fees and option payments on the Company’s properties in Mexico pay accounts payables, general corporate expenses, operating expenses in Mexico.
Gold Resource Corporation today announced preliminary 2013 fourth quarter and year-end mill production of approximately 84,835 precious metal gold equivalent ounces, in-line with 2013 annual production target range. Gold Resource Corporation is a gold and silver producer with operations in the southern state of Oaxaca, Mexico. The Company has returned over $92 million to shareholders in monthly dividends since declaring production July 1, 2010, and offers shareholders the option to convert their cash dividends into physical gold and silver and take delivery.
McEwen Mining Inc. is pleased to announce that the Secretariat of Environment and Natural Resources (SEMARNAT) for the State of Sinaloa, Mexico, has approved the Company’s Change of Land Use application for El Gallo 2. This final environmental permit allows for the construction and operation of the proposed mine. El Gallo 2 is projected to produce an average of 95,000 gold eq. ounces per year (5.2 million ounces of silver and 6,100 ounces of gold) at an approximate cash cost of$750 per gold eq. ounce (including all pre-strip and Mexican royalties). All in sustaining costs have been estimated at approximately $800 per gold eq. ounce (including an estimated $5 million per year on exploration). Gold equivalent ounces are calculated by converting silver into gold using a 60:1 exchange ratio.
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