Millrock Appoints New Chief Financial Officer
September 3, 2020
Millrock Resources Inc. reports that it has engaged Dave Cross as the new Chief Financial Officer of the Company.
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Millrock Resources Inc. reports that it has engaged Dave Cross as the new Chief Financial Officer of the Company.
“We are pleased to welcome as shareholders a number of new institutional investors who participated in this fully-sold, upsized Offering. The financing has provided working capital that will allow Minera Alamos to not only complete its ongoing construction of the Santana gold mine, but also aggressively advance the newly acquired Cerro de Oro gold project in Zacatecas,” stated Doug Ramshaw, President.
Redstar CEO, Charles Funk, commented “Having SilverCrest as our neighbour on three sides in the El Picacho district indicates the potential of Redstar’s 100% owned Cumaro project. Cumaro has the south-eastern extensions of the veins from the El Picacho property with drilling right up to the Cumaro boundary. Redstar will be actively exploring Cumaro later in 2020, once the Company has completed the three-drill rig exploration program we recently initiated at Unga in Alaska.”
New property evaluations with due diligence field visits and sampling have been conducted on gold and silver projects in Chihuahua, Sinaloa and Durango in Mexico and also in Utah and Montana, USA. 280 rock chip samples have been collected and are in varying stages of analysis. Radius expects to be able to announce a new project discovery or acquisition from this work in the coming months. Exploration for new targets by our regional teams, as always, is ongoing.
“The recently announced assay results on the La Dura, historic mine by Tarachi on August 20 confirm the importance of these new concessions. As well, the announcement on August 27 of the diamond drill mobilizing to La Dura and the Project’s geological similarities indicated the importance of these new concessions to Tarachi”, commented CEO Lorne Warner.
Vizsla President and CEO, Michael Konnert, commented: “The Company has now made four high-grade discoveries since July 2020. The Tajitos discovery is the latest demonstration of the Panuco district’s potential. Vizsla is in a solid position to unlock significant value in a district that has never seen systematic exploration. Vizsla is well funded with over C$30M in the bank to explore veins which have never been mapped, sampled, or drilled, like Napoleon and Cordon del Oro. We are actively stepping out on the four discoveries to expand the footprint of mineralization at each area.”
“We are very pleased that Eric Sprott has chosen to increase his ownership stake in the Company to 19.9%,” said Mike Romanik, president of Silver Dollar. “We also view First Majestic’s participation in this Offering as further validation of the exploration and development potential of the La Joya Silver Project.”
The net proceeds of the offering will be used to accelerate the advancement of the Company’s Los Ricos project and for general corporate purposes.
The Company has paid dividends for 11 consecutive years during which time $179 million has been returned to shareholders through dividends and share buybacks.
The Offering remains subject to closing of the San Javier transaction as announced August 6, 2020, customary closing conditions and acceptance of the TSX Venture Exchange. The Company anticipates closing both the Offering and the San Javier transaction on or about September 9th.
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