Cream Minerals Ltd. is pleased to announce that the Company’s Audited Consolidated Financial Statements for the year ended March 31, 2012 were received and considered at its Annual General Meeting held on December 13, 2012.
Riverside Resources Inc. is pleased to announce that Riverside and its partner, Cliffs Natural Resources, have commenced drilling at the Naranjo project located in Jalisco, Mexico. The planned five-hole, 1,400 metre reverse-circulation drill program is now underway. The Naranjo project is the second project to be drilled under the Iron Oxide Copper Gold (IOCG) Strategic Alliance between Riverside and Cliffs.
AuRico Gold Inc. announces that following its receipt of gross proceeds of $750 million relating to the recent sale of the Ocampo mine, the Board of Directors has authorized the making of a substantial issuer bid, pursuant to which the Company will offer to purchase for cancellation up to 36,144,578 of its outstanding common shares for an aggregate purchase price not exceeding $300 million. AuRico anticipates that the Offer will commence on or about December 18, 2012 and be completed in late January 2013, unless extended or withdrawn. The Company intends to fund purchases of Shares pursuant to the Offer from the Ocampo proceeds and has used $128 million of the proceeds to retire its existing debt facility.
Quaterra Resources Inc. today announced that it is seeking TSX Venture Exchange and NYSE MKT approval for a non-brokered private placement offering of up to US $2,275,000 gross proceeds.
McEwen Mining Inc. is pleased to announce that it has strengthened its operations team with the recent hiring of Fernando Aguilar, as Operations Manager (Mexico), Luke Willis, as Director Resource Modeling and Nigel Fung, as Director Mine Planning.
Levon’s management has been working hard to meet the challenges which face our industry, while continuing to ensure that the Company remains in a strong financial position. We have continued to work on de-risking the Cordero project to position it for success going forward. As with all large projects there are challenges along the way, but Levon is meeting them and advancing Cordero.
First Majestic Silver Corp. and Orko Silver Corp. are pleased to announce that the companies have entered into a definitive agreement pursuant to which First Majestic has agreed to acquire all of the issued and outstanding common shares of Orko for consideration of 0.1202 of a common share of First Majestic plus $0.0001 in cash per Orko common share. The offer implies a value of C$2.72 per Orko share based on the closing prices of both First Majestic and Orko’s common shares on the Toronto Stock Exchange and TSX Venture Exchange, respectively, on December 14, 2012. The offer represents a premium of approximately 69% to Orko’s 30-day volume-weighted average price for the period ending December 14, 2012. The transaction will be implemented by way of a plan of arrangement under the Business Corporations Act (British Columbia).
Starcore International Mines Ltd. has filed the results for the first quarter ended October 31, 2012 for the Company and its mining operations. The full version of the Company’s Financial Statements and Management’s Discussion and Analysis can be viewed on the Company’s website at www.starcore.com, or SEDAR at www.sedar.com. All financial information is prepared in accordance with IFRS and all dollar amounts are expressed in thousands of Canadian dollars unless otherwise indicated.
Oroco Resource Corp. today announces that it has closed the first tranche of a non-brokered private placement financing previously announced by news release dated November 19, 2012. The Company has raised gross proceeds of $654,250 in this first tranche closing through the sale of a total of 3,271,250 units at a price of $0.20 per unit. Each unit consists of one common share and one half of one common share purchase warrant. Each whole share purchase warrant will be exercisable into one additional common share for a period of 18 months at a price of $0.35 per share. The securities issued in connection with this private placement will be subject to a four-month hold period in accordance with applicable Canadian Securities Laws. Finder’s fees of $31,775 have been paid in connection with the closing of the first tranche.
AuRico Gold Inc. announces the appointment of Robert J. Chausse as Executive Vice President and Chief Financial Officer effective January 21, 2013.
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