A new 5-percent mining royalty tax passed by the Mexican Congress in April is sending a chill through the country’s mining sector, especially in light of the recent pullback in precious metals prices.
Goldcorp Inc., the worlds biggest producer of the metal by market value, must renegotiate for land at its biggest mine after losing a legal appeal in Mexico.
Soltoro Ltd. participates in discoveries and advancements at the Coyote property through its ~15% equity holding in Argentum Silver Corp. and its retained 3% N.S.R. royalty interest. Soltoro announced by press release issued on May 13, 2013 certain information concerning work done by Argentum Silver on the Coyote property, by replicating Argentum Silver’s press release of the same date. Soltoro has been advised that Argentum Silver has retracted the May 13, 2013 press release, with the following information which Soltoro is also releasing:
Yale Resources Ltd. has been notified by Mammoth Resources Ltd. that they have decided to not proceed with the option to earn up to a 100% interest in the Urique Property. The formal termination of the Agreement is subject to Mammoth fulfilling certain termination obligations as set forth in the original agreement.
Exeter Resource Corporation is pleased to announce that the initial results from the first 7 drill holes at the Angeles property in northern Sonora state, Mexico have intersected significant gold, silver, copper, lead and zinc mineralization. Drilling has initially targeted the La Bonanza area, a site of historical mining at the turn of the 1900’s. Importantly, the current drilling program is the first ever to test the Angeles property.
Southern Silver Exploration Corp. reports today that it has executed an amending agreement with the Optionor of the Cerro Las Minitas property in Durango Mexico to reduce the option payment due on May 18, 2013 from $1 million to $250,000 and to extend the balance of the purchase price of $1.75 million to be paid periodically with the last payment due in March 2015.
Rare Earth Minerals PLC is pleased to announce that it has executed formal agreements with Bacanora Minerals Ltd, a Toronto Stock Exchange listed company, pursuant to which REM is granted certain rights to participate in drilling and project evaluation of the El Sauz and Fleur Lithium concessions in northern Mexico in line with the binding memorandum of understanding announced on February 14, 2013. The Concessions adjoin and are along strike from the BCN’s La Ventana concession.
El Tigre Silver Corp. is pleased to report that the final five drill hole assay results from the 2013 drilling program have been received. A total of 38 core holes were completed and 4,862 metres drilled along the 1.2 kilometre stock work zone on concessions that are part of the Company’s 431 square kilometre ownership in Sonora, Mexico.
Aurcana Corporation issued a news release on May 17, 2013 clarifying certain technical disclosure, in which it advised that the Company’s technical report titled “Technical Report on the La Negra Mine Project, Queretaro, Mexico”, dated October 4, 2012 will be amended and re-filed.
San Marco Resources Inc. is pleased to announce the results of the first 7 drill holes of the Company’s maiden exploration drill campaign, at the Angeles property in northern Sonora state, Mexico.
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