Author: Josue Gomez

(Reuters) – Mexican miner Grupo Mexico will produce 850,000 tonnes of copper in 2013, the company’s chief financial officer Daniel Muniz said on Thursday.

A NEW developing mining district in the state of Guerrero, Mexico, the Guerrero Gold Belt, has attracted some exciting explorers that have unearthed key discoveries. While several companies have gone on land-grabbing sprees, there’s still good news: the Guerrero is growing.

Coeur d’Alene Mines Corporation today announced that Joe Phillips has been appointed to Senior Vice President and Chief Development Officer where he will oversee all of Coeur’s capital projects, including the new La Preciosa Project in Mexico, which is the major asset of Coeur’s pending acquisition of Orko Silver Corp., subject to Orko shareholder approval and other closing conditions. In addition, William N. (Bill) Holder has been appointed Vice President of Health and Safety and will be responsible for designing and implementing the Company’s global safety and health systems and programs and improving health and safety performance Company-wide.

Mercator Minerals Ltd today announced its financial results for the three months and year ended December 31, 2012. For 2012 the Company reported revenues of $262.6 million, an operating profit of $24.7 million before the El Creston asset impairment charge*, a net loss of $128.7 million (loss of $0.48 per share, basic) or an adjusted net loss* of $1.2 million ($nil per share). Included in the net loss is the $119.8 million (or $0.44 per share) non-cash accounting charge for the impairment of the El Creston project. Cash flow from operations, before non-cash working capital changes, was $20.6 million in 2012. For the fourth quarter of 2012, the Company reported revenues of $77.6 million, with operating profit of $10.6 million before the El Creston asset impairment charge*, net loss of $115.2 million ($0.43 per share, basic) or income of $4.4 million ($0.02 per share) on an adjusted net income* basis. The net loss recorded during the fourth quarter includes the previously mentioned write-down of the El Creston project. Cash flow from operations before non-cash working capital changes were $9.8 million in the fourth quarter of 2012.

Arianne Resources Inc. announces that it intends, subject to regulatory approval, to amend the terms of 4,000,000 common share purchase warrants issued as part of its private placement in April 2011. Each of the Warrants, which were part of the units being issued, entitled its holder to purchase one common share of Arianne at an exercise price of $1.50 per Common Share expiring on April 29, 2013. None of the Warrants were exercised since issuance.