At Plata Verde, Radius geologists re-discovered an undocumented large scale underground bulk mining operation where in the late 1800’s, historic miners hand excavated an extensive series of anastomosing caverns, producing silver bars at an associated smelter operation.
I am pleased to report resilient production performance with further progress made on our mine improvement initiatives. As a result, we are maintaining our silver guidance for the full year, though we have reduced our gold guidance due to COVID-19 related working restrictions mainly at our Herradura and Noche Buena mines which have impacted production volumes.
The proceeds of the Placement will be used to fund expanded drill programs on the Company’s silver-gold exploration projects in Mexico.
Golden Minerals Company announced today that, due to demand, the underwriter has agreed to increase the size of the previously announced offering and purchase on a firm commitment basis 17,857,143 shares of common stock of the Company, at a price to the public of $0.42 per share, less customary underwriting discounts and commissions.
H.C. Wainwright & Co. is acting as the sole book-running manager for the offering.
Greg McKenzie, President and CEO commented, “Since taking over leadership of the Company in May 2020 we are pleased to see the share price begin to strengthen, however, we are excited about the tremendous organic and strategic growth opportunities and believe that with the ongoing support of our strong shareholder base Golden Tag is well positioned to capitalize on the continued rebound in silver prices.”
The Almas project was taken over by Aura early in 2018, as result of the merger of the Company with Rio Novo Gold.
VanGold intends to use the net proceeds from the Financing to accelerate the development of the El Pinguico silver and gold project in Guanajuato, Mexico, and for general corporate and working capital purposes. Specifically, the Company intends to initiate an underground drilling campaign to target extensions of high-grade in-situ silver and gold epithermal veins and stockworks.
“The El Niño mine continues to perform at the high-end of expectations”, stated Ewan Downie, Chief Executive Officer of Premier, “Both South Arturo and Mercedes have accumulated ore stockpiles to be processed during the third quarter and a modified mine plan, designed to increase mining efficiency and expand operating margins, has been implemented at Mercedes.”
IMPACT Silver Corp. At the request of IIROC, wishes to confirm that the Company’s management is unaware of any material change in the Company’s operations that would account for the recent increase in market activity.
Mexico Mining Center © 2021 / All Rights Reserved
