Author: Josue Gomez

George Paspalas, President and CEO, commented, “We are pleased to see the continued progress being made developing the Juanicipio project, whilst we now embark on the formal approval process. Underground development is well advanced, and the construction of some of the surface infrastructure is starting to take shape. It is heartening to see our partner is now in discussions with suppliers to order long lead time equipment. I would like to remind people, that as we head to full-on construction of the project, we still are very motivated to continue to explore the property, as our current exploration success is the result of working in a very small area of the property. There remain many untested prospective targets for the joint venture to drill, and with 4 rigs turning on surface, we eagerly await the assay results.”

Igor Gonzales, President and CEO of Sierra Metals stated: “I am very pleased with our strong Q2 2018 results which builds upon our solid first quarter results. The Company is realizing positive returns on our capital investments and our operational improvement efforts. This can be noted through improving operating performance and strengthening of our asset base in addition to improved cash flow and increases to mineral reserves and resources at each of our mines.”

“The Company’s operations achieved record-low consolidated cash costs and all-in sustaining costs despite Galena’s operations being down for nearly a month during the quarter,” said Americas Silver President and CEO Darren Blasutti. “We expect the second half of the year to produce more silver, zinc and lead at lower unit operating costs as Galena returns to normal production and San Rafael ramps up to peak milling rates.”

“During the 52 days since being acquired, San Dimas made an immediate impact to our production profile and bottom line by producing 808,923 ounces of silver plus 11,348 ounces of gold and generated mine operating earnings of $5.1 million,” stated Keith Neumeyer, President and CEO of First Majestic. “Additionally, the AISC at San Dimas came in at $5.41 per ounce, making it our lowest cost and largest producing mine. Silver grades at La Encantada and Del Toro saw significant improvements at the end of the second quarter and continue to date. As a result, total production for the month of July reached a new monthly record of 2.2 million silver equivalent ounces. This production trend is expected to continue throughout the remaining quarters of 2018 and into the first half of 2019 following the installation of microbubble columns at La Parrilla and Del Toro and the installation of high intensity grinding mills at Santa Elena and San Dimas.”

McEwen Mining Inc. today announced that it has closed the previously announced $50 million senior secured 3-year term loan facility with Royal Capital Management Corp. as agent for the Lenders. As previously disclosed Rob McEwen, Chairman and Chief Owner of the Company, is participating as a Lender for $25 million of the total $50 million Term Loan.

“We were pleased to complete the acquisition of Rye Patch Gold during the quarter, adding a second operating mine to our portfolio,” said Greg McCunn, Chief Executive Officer. “With two similar open pit, heap leach operations we believe that we will be able to leverage our expertise across the mines to focus on improving the operations to deliver cash flow. Disciplined capital allocation is a priority, particularly in the current gold price environment. As a result, we have made the decision to temporarily suspend development work at Ana Paula while we focus on improving our operations to unlock opportunities to increase efficiencies, lower costs and generate cash flow.”