American Consolidated Minerals Corp. announces that it has settled on terms to undertake a private placement with Global Resources Investments Ltd. an arm’s length party to the Company. American Consolidated is seeking to raise $240,000 through the sale of 2,400,000 common shares at $0.10 per share.
Fortuna Silver Mines Inc. today reported revenue of $30.2 million, cash generated from operations, before changes in working capital of $7.6 million and a net loss of $0.3 million in the third quarter of 2013. Income before income tax was $2.2 million.
Shares of Bacanora Minerals nearly doubled in value on Monday after the company announced high lithium recoveries from preliminary metallurgical testing on samples from its La Ventana lithium deposit in Mexico.
Southern Silver Exploration Corp. reported today that Freeport-McMoRan Exploration Corporation has reported on results of first year operations, made an option payment of $100,000 and delivered plans for the first phase of second year operations on the Cerro las Minitas project in Durango State, Mexico.
Goldcorp Inc. is pleased to declare its eleventh monthly dividend payment for 2013 of $0.05 per share. Shareholders of record at the close of business on Thursday, November 14, 2013 will be entitled to receive payment of this dividend on Friday, November 22, 2013.
Rare Earth Minierals PLC Monday said Bacanora Mineral Limited, its joint venture partner in the Fleur-El Sauz Lithium Project in northern Mexico, has requested a trading halt of its shares on the Canadian Exchange.
Avino Silver and Gold Mines Ltd. is pleased to release further assay results from sampling along level 5 of the San Gonzalo vein. An additional 82 metres to the northwest and 160 metres to the southeast of the main crosscut across from the ramp on level 5 have now been sampled. The San Gonzalo Mine is located on the Avino property 80 km northeast of Durango, Mexico.
Throughout the past year, there has been speculation that hundreds of cash-strapped junior mining companies on the TSX Venture Exchange will run out of money and simply disappear.
The third quarter began with gold production at the production facilities exceeding expectations for Mexus. President Paul Thompson said “This production level should continue, and with the introduction of fresh ore from the San Felix mine, production is forecast to continue to increase”. Recently, Mexus has been approached by several parties inquiring as to the future plans of the Company regarding the San Felix mine and the related production facilities. While these discussions are very preliminary in nature and may or may not result in any changes to the existing structure of the operation or ownership of the mine, Mexus will continue to keep all options open for consideration.
Thanks, Darren. Our earnings before interest and taxes, adjusted for foreign exchange and the one-time Pinto Valley transaction cost, were $5 million for the quarter. Operating cash flow before changes in working capital was $12.7 million or $0.03 a share for the quarter and $61.3 million for the year-to-date, which gives us a significant flexibility to fund our capital programs and to continue to grow the company.
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