Category: Investor’s Corner

Capstone Mining Corp. today announced its financial results for the three and six months ended June 30, 2014. Net earnings for the quarter were $16.6 million and operating cash flow before changes in working capital was a record $56.5 million. Copper production for the quarter at Capstone’s three operating mines, Pinto Valley, Cozamin and Minto, totalled 27,738 tonnes of copper in concentrates and cathode (26,785 tonnes of payable copper) at a cash cost of $2.03 per payable pound of copper produced.

Mercator Minerals Ltd today announced its financial and operating results for the three months and six months ended June 30, 2014. During the second quarter 2014, the Company generated revenues of $69.8 million, cash flow from operations of $8.4 million, a net loss of $3.0 million (loss of $0.01 per share, basic) or an adjusted net income* of $5.2 million (adjusted earnings of $0.02 per share).

AuRico Gold Inc. reports financial results for the three and six months ended June 30, 2014. The Company will host a conference call on Friday, August 8, 2014 beginning at 8:30 a.m. Eastern Time.

International Northair Mines Ltd. is pleased to announce proposed changes to its board of directors, advisors and senior officers concurrent with the completion of a non-brokered private placement offering of up to 30,000,000 Units for gross proceeds of up to $3,000,000. Each Unit will be priced at $0.10 per Unit and will consist of one common share of the Company and one common share purchase warrant. Each Warrant will entitle the holder to purchase one Common Share of the Company at a price of $0.18 per Common Share for a period of 18 months from the closing of the Private Placement and $0.25 per Common Share thereafter until the expiry of the Warrants three years following closing of the Private Placement.

Primero Mining Corp. today reported operational and financial results for the second quarter ended June 30, 2014. During the second quarter the Company reported record production of 63,414 gold equivalent ounces, compared to 39,089 gold equivalent ounces in the same period of 2013 and adjusted net income of $1.1 million ($0.01 per share).

War Eagle Mining Company Inc. proposes to raise up to $100,500 by way of a non-brokered
private placement offering of up to 2,010,000 units of the Company.

Red Tiger Mining Inc., announced on July 31, 2014 that it had completed the filing of its audited financial statements for the year ended December 31, 2013 and its related Management Discussion & Analysis and CEO and CFO certifications and the filing of its interim financial statements for the period ended March 31, 2014 and its related Management Discussion & Analysis and CEO and CFO certifications. With completion of the filing of the Required filings, the Company is up to date with its financial filings and the temporary management cease trade order dated May 14, 2014 issued by the Ontario Securities Commission expired as of August 6, 2014.

Caza Gold Corp. announced today the departure of Mr. Greg Myers as President and Chief Executive Officer of the Company effective as of August 1, 2014. The Board is currently evaluating potential successors to Mr. Myers.

The Company reported a net loss of $5.0 million in the second quarter 2014 compared to a net loss of $217.8 million in the second quarter 2013, with the difference attributable primarily to a $238.0 million impairment charge recorded in the second quarter 2013. The Company reported zero gross margin in the current quarter as compared to a negative gross margin of $3.6 million in second quarter 2013, due to a suspension of mining activity at the Velardena Properties between mid-June 2013 and June 30, 2014. Velardena care and maintenance costs were $1.2 million in the current quarter compared to $2.3 million in the second quarter 2013, with the difference due to the inclusion of shut down expenses in the 2013 figure. Exploration expenses were $1.7 million in the second quarter 2014 compared to $1.2 million in the year ago period, with the difference attributable primarily to 2014 drilling at the Company’s Los Azules property in Mexico. Administrative expenses were $1.1 million in the current quarter compared to $1.6 million in the second quarter 2013.

“The second quarter marked an important time for Silver Standard’s future. With the acquisition of the Marigold mine complete, we have grown substantially to become the operator of two large open pit mines,” said John Smith, President and CEO. “Our silver-equivalent production and sales increased by 81% and 91%, respectively, compared to the first quarter and we are on track to achieve improved results for the remainder of 2014. We continue to focus on the optimization and life-of-mine plan for Marigold and consistent delivery at Pirquitas. With the addition of our second producing mine, a healthy balance sheet and proven management capability, we are positioned for further growth and success.”