Author: Josue Gomez

Arian Silver Corporation, a silver mining company focused on silver projects in the silver belt of Zacatecas, Mexico, announces that further to its announcement on 22 September 2015 of the signing of a letter of intent and non-binding term sheet with Quintana AGQ Holding Co. LLC, discussions with Quintana and its affiliates are on-going, but that notice has been received from Quintana to terminate the letter of intent in accordance with its terms.

“This has been a trying year for the industry; however, we have continued to perform at the mine reporting net income overall and operating cash flow for the year while also making significant corporate acquisitions that have expanded our base of exploration properties and furthered our resources,” reported Robert Eadie, President of the Company.

The proceeds from the Private Placement are expected to be used by the Company for the purchase of new underground mining equipment, general working capital and corporate purposes. All shares issued will be subject to a four month hold period.

Marlin Gold Mining Ltd. is pleased to announce that it has repaid the final $5 million of principal due to the Sprott Resource Lending Partnership. This was the only secured debt and only third-party debt held by the Company. Marlin has entered into an amended and restated loan agreement providing the Company with a US$5.5 million increase to its existing unsecured facility from entities controlled by Wexford Capital LP, Marlin’s controlling shareholder. The aggregate principle of the Facility is now US$25 million. The maturity date of the Facility is January 15, 2017 and will accrue interest daily at a rate of 15% per annum.

Mexican mining company Penoles on Wednesday reported a third-quarter net profit of 155.6 million pesos ($9.19 million), down 86.6 percent from the same period a year earlier as a slump in the peso pushed up costs.

RESUMEN EJECUTIVO En el 3T/15 los precios de los metales que Peñoles produce y vende fueron en promedio, significativamente inferiores a los registrados en el 3T/14 (en términos de dólares): oro (-12.3%), plata (-24.7%), plomo (-21.5%), zinc (-20.2%) y cobre(-24.9%). El efecto adverso de los menores precios en los ingresos de la Compañía fue mitigado por mayores volúmenes vendidos de todos los metales, así como por mayor tipo de cambio del peso frente al dólar americano (que se depreció un 25.1% en promedio) lo que benefició las ventas expresadas en términos de pesos. En las operaciones mineras, la producción de oro fue superior debido a los mayores volúmenes recuperados en Herradura, el mayor mineral depositado en Noche Buena y mayor volumen procesado en Saucito…

“New Gold moved from strength to strength during the third quarter,” stated Randall Oliphant, Executive Chairman. “Our gold production increased significantly, our costs decreased and we further strengthened our balance sheet. When including the cash proceeds from the El Morro transaction and the remaining stream deposit from Royal Gold, our company has total pro forma liquidity of over $750 million which exceeds the remaining development capital estimate at Rainy River. In addition, with quarterly all-in sustaining costs below $800 per ounce we continued to generate a robust margin. We now look forward to finishing the year with another strong operational quarter and further advancing the construction of Rainy River.”

“In the third quarter of 2015, we set a new record for quarterly gold production and lowered unit costs which resulted in strong operating cash flow. This has allowed us to continue to invest in our exploration and development pipeline, which represents the long-term future of our business,” said Sean Boyd, Agnico Eagle’s Chief Executive Officer. “Our increased level of exploration activity continues to pay dividends as witnessed by the new discoveries at Kittila, Amaruq and El Barqueno. These projects are expected to be significant contributors to our production profile in the coming years,” added Mr. Boyd.