Heliostar Metals Ltd. is pleased to announce that it has entered into an agreement with Cormark Securities Inc. and Velocity Trade Capital Ltd. as co-lead underwriters on behalf of a syndicate of underwriters pursuant to which the Underwriters have agreed to purchase on a bought deal basis 12,000,000 common shares of the Company at a price of C$1.00 per Share.
Greg Davison, Silver Spruce Vice-President Exploration and Director stated, “We are very pleased to welcome Paul and Bill to our Advisory Board. Both gentlemen have a multi-faceted wealth of experience to drive the Company forward with their business acumen and technical expertise.”
Questcorp Mining Inc. closed an oversubscribed non-brokered private placement on March 19, 2025, raising C$2.75M by issuing 45.83M units at C$0.06 each (1 share + 1 warrant exercisable at C$0.10 until March 19, 2027). Proceeds fund La Union project, North Island exploration, payables, and working capital. Finder’s fees: C$181K cash + 3.02M warrants.
McEwen Mining reported 2024 revenues up with production within guidance, gross profit rising year-over-year, but a net loss of $43.7 M due mainly to McEwen Copper expenses. The company strengthened liquidity with $110 M in convertible notes, plans growth at Fox Complex and Los Azules, and forecasts higher consolidated production by 2030.
“2024 marked a pivotal year for Orla, with record production from Camino Rojo and the addition of the Musselwhite Mine expanding our footprint into Canada. While detailed guidance will be provided in the second quarter, we expect that adding Musselwhite production will more than double 2024 production. We intend to continue to invest in growth and exploration across the entire portfolio.”
Goldgroup Mining Inc. closed the first tranche of a CAD $7.75M non-brokered private placement on March 17, 2025, raising ~$7M via 23.33M units at $0.30 each (one share + ½ warrant at $0.45 until 2027). Eric Sprott invested $6.75M for 22.5M units. Proceeds for mine improvements, PEA update, debt, working capital; subject to TSXV approval.
Ernesto Balarezo, CEO of Sierra Metals, commented, “I am very pleased to report that the investments we have made in our business units have resulted in record production levels for Sierra Metals. The operational enhancements have strengthened our financial position and will enable the Company to pursue sustainable growth safely and responsibly.”
“This quarter represents a return to full production and it is reflected in good earnings from mining operations of $2.1million and positive cash flow,” reported Robert Eadie, CEO of the Company. “With the finalization of the carbonaceous ore tests, we expect further increase in monthly metal production going forward.”
In aggregate, the Company issued 2,623,066 Units in the third closing for aggregate gross proceeds of CAD$196,729.95.
The 2024 Mercedes Report supports the updated Mercedes Mineral Resource and Mineral Reserve estimates announced by the Company on January 29, 2025.
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