Aura Minerals Inc. announces that, in light of current market conditions arising as a result of COVID-19, the Company has decided to postpone its initial public offering in Brazil and concurrent listing of Brazilian depositary receipts on B3 S.A. – Brasil, Bolsa, Balcão, which was announced on March 3, 2020.
“The Government of Quebec ordered the mining industry to reduce to minimum operations as part of the fight against the COVID-19 virus, so we are suspending our Casa Berardi operations,” said Phillips S. Baker, Jr., Hecla’s President and CEO.
“First and foremost, our focus is on ensuring we protect the health and safety of our employees and the communities in which we operate. At Island Gold, approximately half of our employees travel from various parts of Ontario and Quebec, while the other half are local residents. We have a very unique camp set-up at Island Gold, with the camp located directly within the town of Dubreuilville. For these reasons, we have decided that the best way to minimize the possible spread of the virus is to temporarily suspend the operation of the mine. This is a rapidly evolving situation and we will take further action based on the best available information,” said John A. McCluskey, President and Chief Executive Officer.
Silver One’s President and CEO Greg Crowe commented, “With the steady advance of COVID19 and the associated uncertainty in the markets, Silver One management wishes to assure shareholders that the Company is well positioned to weather what we hope is a short lived event. With over Cdn$ 6 million in its treasury, the Company is prudently managing its exploration and other costs throughout 2020 and into 2021.”
Azure Minerals Limited provides an update on its Mexican operations, with the Company implementing several important changes to ensure workplace safety and balance sheet preservation in response to the COVID-19 pandemic.
VVC closed subscriptions for Tranche 1 of a non-brokered Private Placement financing, previously announced on February 5, 2020. To-date, VVC raised CA$951,560 (about US$722,000) and will issue to the placees an aggregate of 19,031,200 Units at a price of CA$0.05 per Unit.
Vizsla Resources Corp. reports that, in light of increasing global responses to the COVID-19 virus outbreak, the Company has executed an internal plan to ensure employee and stakeholder health and safety as well as minimized disruption to exploration operations.
At the new project, named Plata Verde, Radius geologists have 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. The project appears to be un-explored since the miners ceased their operations, and no references have been found within the Mexican Geological Survey. The few local residents have no knowledge of exploration companies working in the area and there are no indications of prior exploration within the mines or surrounding outcrops. Initial prospecting rock chips by Radius geologists have returned silver grades between 5 and 1070 g/t Ag.
Pan American Silver Corp. today announced that it is temporarily suspending its operations in Argentina, including the Manantial Espejo mine, in order to comply with a mandatory national quarantine. The government of Argentina imposed the quarantine in response to COVID-19 and stated that it will be in effect until March 31, 2020. Pan American is also suspending supply deliveries and personnel transport at its San Vicente operations in Bolivia to comply with a mandatory national quarantine that is stated to be in effect until March 31, 2020.
Freeport-McMoRan Inc. announced today that in response to the COVID-19 pandemic and resulting global economic uncertainties, its Board of Directors will suspend the quarterly cash dividend of $0.05 per share previously planned for May 1, 2020.
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