Category: Investor’s Corner

San Marco Resources Inc. has completed the sale of 3,738,334 units at $0.12 per unit for gross proceeds of $448,600 under its non-brokered unit private placement announced September 26, 2019.

Bradford Cooke, Endeavour CEO commented, “El Cubo was a good mine for us but our exploration programs in recent years failed to replace reserves and find new resources. We reduced the plant throughput this year in order to explore for new reserves but without success. As forecasted, grades and throughput have been declining all year, which resulted in declining economics of the mine in recent months.”

The Company intends to use the net proceeds from the offering for advancing its current mining projects and exploration prospects, for additional operating capital and for general working capital purposes.

Technical Director of Alien Metals, Bill Brodie Good, commented that “based on a full review of the final due diligence report and geological assessment of the 17 rock chip samples taken in relation to the historical prospects as well as the fact that both project areas are very underexplored and would appear to have potential for further mineralisation, I am excited to make the decision to exercise the option with Windfield and to start planning for more detailed exploration work for the coming field season in the region”.

Orex intends to use the net proceeds of the Offering to maintain its 40% share of the Sandra-Escobar Project in good standing and fund its 40% share of the upcoming work program, to make the necessary payments under its existing option to acquire 100% of the Cordero Project and for general corporate and working capital purposes.

The board of directors of Jinchuan Group International Resources Co. Ltd. announces that due to personal reason, Ms. Sun Wei has tendered a resignation letter resigning from the position of joint company secretary of the Company and all other positions with the Company and the subsidiaries of the Company with effect from 18 November 2019.

4,827 tonnes of ore mined, significantly higher than the 1,363 tonnes mined in September as the Company increased ore mining production during the month

Negotiation talks between the company and union workers broke down last Thursday after both sides failed to reach an agreement.

Taj Singh, President and CEO of Discovery states: “We are pleased to join the OTCQX Market. Our current and future investors will benefit from a stronger and more efficient platform to trade within the U.S. that also provides us with significant additional market exposure.”

“Discovery Metals Corp joins nearly 200 companies listed in Canada that cross-trade their shares on the OTCQX Best Market in the U.S.,” said Jason Paltrowitz, EVP of Corporate Services at OTC Markets Group.

Diversified miner South32 Ltd said Monday it has appointed Guy Lansdown as independent non-executive director with effect on December 2.

Greg Crowe, President and CEO of Silver One Resources commented, “The results of the geophysical survey are very revealing and valuable, as they point to a completely new target not previously identified which exhibits geophysical characteristics similar to IOCG systems in various parts of the world.”

Jorge A. Ganoza, President and CEO, commented, “On the strength of our two operating mines and improved metal prices, we generated adjusted EBITDA of $19.2 million with strong free cash flow from ongoing operations of $10.6 million in the third quarter of 2019.”

“This represents another positive step towards achieving our plan for Florida Canyon,” said Mark Backens, President and CEO of Alio Gold. “Construction of the Phase II leach pad is already underway, and this funding will help us toward our goal of completing construction in Q2 2020 to take maximum advantage of operational efficiencies which we expect will drive cash flow.”

“Our team continues to execute on our business plan which focuses on acquiring or developing subsea mineral assets and advancing these projects along the development path to increase their near- and long-term value. Our current portfolio now includes the Exploraciones Oceanicas (ExO) Phosphate Deposit in Mexico, Lihir Subsea Gold (Bismarck) in Papua New Guinea, and a services contract that provides us with a meaningful equity component in the development of a polymetallic nodule project. Two additional projects are in the final stages of evaluation as potential additions to our portfolio.”

Además de continuar con su apuesta por las energías limpias, renglón en el que al haberse destacado como una de las empresas pioneras en México ha logrado avances importantes, tanto que cerca del 35 de sus operaciones se sustentan con la fuerza proveniente de fuentes renovables, Industrias Peñoles se prepara para enfrentar un nuevo reto dentro de la lucha global por la reducción de las emisiones de efecto invernadero, ahora con base a nuevas disposiciones oficiales que a nivel federal entrarán en vigor a partir de enero del próximo año.

Ridgestone Mining Inc. is pleased to announce the appointment of Mr. Jonathan George as CEO in place of Mr. Ted Liu (who will remain as a Board Director) and to its Board of Directors effective November 14, 2019.

Mexican Gold Corp. is pleased to announce that further to its July 15, 2019 news release announcing the closing of its non-brokered private placement of 50,000,000 common shares and 50,000,000 share purchase warrants, the Company is pleased to announce that it has received TSX Venture Exchange approval for the listing of the Warrants.

“We are continuing with the plan to mill higher grade ore producing more profitable ounces and we believe we are on the right track. This last quarter has reflected all the measures taken to reduce costs and improve ore grade and we have shown a steady improvement each month. The number of meters developed in preparation and exploration continues to increase and it has contributed to the steady increase of production and reserves.” reported Salvador Garcia, Chief Operating Officer of the company.

Igor Gonzales, President, and CEO of Sierra Metals stated: “I am proud of the Company’s achievements in the third quarter. We were able to generate one of the Company’s highest quarters of operating cash flows of $21.8 million, with free cash flow of $1.9 million despite lower metal prices as a result of record quarterly consolidated equivalent metal production and throughput.”

“As we approach the end of 2019, the Company remains on-track to deliver first gold pour before year end at Relief Canyon, on time and on budget,” said Americas President & CEO Darren Blasutti. “The Cosalá Operations continues to outperform our expectations. A solid Recapitalization Plan with the necessary capital from Eric Sprott provides a clear path forward to increase production with reduced costs at the Galena Complex.”

“We are excited for the company to be venturing into the fast-growing market for IoT applications, and to be able to bring Industrial IoT applications to companies within our resource network. Canuc’s exclusive rights for energy and mining sector IoT applications in key jurisdictions in North America can bring meaningful success at a time when these technologies are revolutionizing extractive industries with productivity, logistical and safety improvements” stated Chris Berlet, CEO of Canuc.

The Private Placement consists of a total of 96,013,901 units priced at $0.015 for proceeds of $1,440,208.51.

Proceeds of the loan will be primarily used for exploration activities at the Company’s Evelyn and El Mezquite gold projects as well as for general working capital purposes.

Exploration expenses were $0.9 million in the third quarter, reflecting work at Sand Canyon (Nevada), Yoquivo, Santa Maria and other properties primarily in Mexico, as well as property holding costs and allocated administrative expenses.