CEO Brad Marwood said, Since joining the Company, my focus has been on the transition of CZL from explorer to producer. The Boards decision to commence mining, having secured toll treatment and concentrate off-take agreements is a low risk, fast return option that will see mining re-established for a low capital cost.
Fred Stanford, President and CEO of Torex stated: With the ELG, ramp-up to steady state nearing completion, this TR incorporates the ramp-up learnings and illustrates that ELG is an asset that produces in the lowest quartile of all in sustaining costs per ounce. The TR also lays out the ground work for growth through the ELG Underground (ELG UG) mine and Media Luna deposit, and through the advancement of the conceptual Muckahi technology.
“We continue to be impressed with our team’s execution as we advance projects on time and on budget through the permitting and development process”, said David Garofalo, President and Chief Executive Officer of Goldcorp. “Goldcorp provides its shareholders with meaningful value growth opportunities over the next decade with reserve and production growth and declining costs from existing mines, and the strongest pipeline of potential large-scale new mines.”
Despite the recent volatility of commodity prices, activity levels continued to grow this quarter, said Denis Larocque, President and CEO of Major Drilling Group International Inc. This growth was led by our international operations as South and Central American revenue was up 41% and Asian and African revenue was up 58% compared to last year. In Canada – U.S., our revenue was relatively flat as we concentrated on higher margin contracts due to the high level of labour utilization experienced in these operations, while still facing competitive pressures. With the market improving and our continued efforts on recruitment and training, we should see revenue start to grow in these regions in the coming quarters.
With the successive closing of several tranches of our financing, we are excited to initiate drilling in the main showing areas at Manto Negro, stated Michael McPhie, President and CEO of Prize Mining. The Phase II program will focus on two areas in order to provide a better understanding of the style, continuity, grade and thickness of the copper mineralization. This should give us the confidence to subsequently step out and test other targets on this extensive property, thereby confirming the district-scale potential of the Manto Negro Project.
Goldplay President and CEO Marcio Fonseca commented, Consistent high-grade, near surface silver results returned from the sampling of historical holes at the San Marcial Project continue to encourage the Company. Goldplays drill core sampling program is advancing rapidly, and an updated resource estimation is scheduled for completion in the December quarter of 2018.
Golden Minerals Company is pleased to announce it has sold, through its wholly owned Mexican subsidiary, its remaining interest in the Company’s Celaya exploration property to a Mexican subsidiary of The Electrum Group LLC.
Evrim Resources Corp. is pleased to announce that, further to its previous announcement on August 28, 2018, the Company has closed its private placement with Newmont Canada Corporation, a wholly owned subsidiary of Newmont Mining Corporation. A total of 4,848,401 shares of the Company were issued to Newmont at a price of $1.50 per share for gross proceeds of $7,272,601.50.
“During the second quarter we saw the beginning of the turnaround in our mining operations.” stated Carlos Silva, Chief Operating Officer of Santacruz. “Although the positive changes to our production volumes and operating costs were modest we firmly believe that we are now on the path to improved operating results at both Veta Grande and Rosario.” Mr. Silva continued, “With the mill expansion at Veta Grande completed and a better delineated mine plan on its way, our focus now is to improve underground stope production at both mines. Anticipated improvements include an increase to the grade of mineralized material being fed to both mills as well as higher metal recoveries which are expected to result in increased production and a lower unit cost of production.”
Riversides President and CEO, John-Mark Staude, stated: We are pleased to have partners and be taking steps ourselves in advancing our portfolio of high-quality precious and base metal projects toward unlocking the next big discovery in Mexico. We appreciate the support and contributions from our shareholders and diverse exploration team as we see many stock catalysts in the coming months including our particular excitement with the Cecilia Project and its news flow to come in early September.
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