Author: Josue Gomez

Mr. Frank Kordy stated: “The Board and I are very pleased to have finally completed our strategic transformation from Mining & Exploration into Merchant Banking. The Board and I strongly feel that the completion of this process will be beneficial to our shareholders as the new business model offers more revenue generating opportunities, and will allow the Corporation the ability to make strategic investments into many diverse sectors. The Corporation has come a long way over the course of the last year, and we are excited to have the ability to now focus more energy on business development endeavors vs. restructuring. We remain committed in continuing building this business.”

“We are moving forward aggressively on our work at our recently acquired La Fortuna gold project and expect to have permits in hand on both of our Mexican development projects by early next year,” said Chris Frostad, Chief Executive Officer of Minera Alamos Inc. “This financing provides adequate funds to move us beyond a construction decision.”

Alamos Gold Inc. is providing a summary of the voting results of its Annual General and Special Meeting of Shareholders.

“We are pleased to have delivered another quarter of positive operating and financial results. Our revenues from the San Gonzalo Mine were lower than expected due to a new sales arrangement which resulted in only two months of sales. Going forward, each quarter will reflect three months of sales and related production costs. Our teams in Mexico and Canada have done an excellent job of monitoring and reducing costs, with stronger metal prices we anticipate improved profitability in future periods. During the quarter we achieved a consolidated all-in sustaining cash cost of $11.29 (US$8.22) compared to $12.36 (US$10.09) per silver equivalent ounce in the first quarter of 2015. In April 2016, the Company commenced underground mining using the long-hole caving method at the Avino Mine. Management is currently analyzing the economics of the new mining method and is optimistic that the results will lead to a commercial production decision in the coming months.”

Starcore International Mines Ltd. announces that its Board of Directors has resolved to change the Company’s financial year-end from July 31st to April 30th. A Notice of Change in Year-End has been filed by the Company on SEDAR pursuant to National Instrument 51-102.

GoGold Resources Inc. is pleased to announce the release of financial results for the three and six months ending March 31, 2016. The Company recorded revenue of $5.1 million from the sale of 348,991 silver equivalent ounces at a cash cost of $6.78 per silver equivalent ounce in the quarter. The Company continues to be a low cost operation with cash costs of $2.73 per silver ounce using gold as a bi-product credit.

Goldgroup Mining Inc. announces it has consented to the restructuring and sale by Monarch Gold Corp. of substantially all of its assets and operations to Cascadia Goldfields Company Ltd. Pursuant to the restructuring and sale, Cascadia assumed the obligations of Monarch in respect of a CAD $2,500,000 loan previously made by the Company to Monarch (see press release on June 18, 2015), which is now overdue, and granted security in favour of the Company over all of the assets and operations acquired by Cascadia. Pursuant to the restructured loan, Cascadia will be obligated to make the following payments: