Carlos Slim has often been described as having a Midas touch but his very own gold mining company, Minera Frisco, didnt make much money in the third quarter from producing the yellow metal.
Westminster Resources Ltd. announced that it has negotiated a non-brokered private placement of 10 million shares at $0.10 per share for gross proceeds of $1 million with Capstone Mining Corp.
Canadian mining company Excellon Resources said Friday it hopes that peace has been restored to its Mexican mine after it dismantled a protest camp it says was set up on property it owns.
Mexican mining company Minera Frisco SAB (MFRISCO.MX, MSNFY) made a net profit in the third quarter, compared with a year-ago loss, as currency gains offset lower revenue and operating profits.
Starcore International Mines Ltd. has filed the results for the year ended July 31, 2012, for the Company and its mining operations. The Company reports revenues of $57 million, earnings from mining operations of $21.7 million and earnings for the year of $14.34 million, which includes a net $1.33 million loss in financing costs due to net losses in gold forward sales contracts up to May 15th , 2012, when the gold forward sales contracts were repurchased by the Company at a close out price averaging US$1,562 per ounce. The basic and diluted income per share for the year ended July 31, 2012 was $0.11 and $0.10, respectively.
Canadian gold producer Alamos Gold (TSE:AGI) shares were up almost 4 per cent after it released significantly stronger third quarter results and said it expects to achieve the highest annual production in its history in 2012.
The Toronto-based company owns and operates the Mulatos Mine in Mexico, and has exploration and development activities in Mexico and Turkey.
Kootenay Silver Inc. is pleased to announce that, further to the press release dated October 4, 2012, it has received subscriptions for $8,253,000 under the brokered private placement offering of units and has today closed the first tranche of the Offering of $7,203,000 and issued an aggregate of 6,860,000 Units at a purchase price of $1.05 per Unit. The Company anticipates closing the balance of the Offering shortly and will provide an update in due course. The Offering was conducted by Dundee Securities Ltd., on behalf of a syndicate including PI Financial Corp.
Excellon Resources Inc. is pleased to announce the appointment of Oliver Fernández to the Board of Directors of the Company.
Grupo Mexico net income plunged 53.8% from $693 million in the third quarter of last year to $320.2 million for the third quarter of this year.
Mexican silver producer Fresnillo PLC said Thursday the Board has approved the feasibility study for the development of the 500 million dollar San Julian silver project, is a key project in reaching the Company’s goal to produce 65 million ounces of silver and 500,000 ounces of gold per year by 2018.
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