Torex Gold Resources Inc. announced today that Andrew Gottwald, CFO of the Company since its inception four years ago, will be leaving Torex to pursue other interests. The Company has appointed Jeff Swinoga as its new Chief Financial Officer, effective April 7th, 2014.
Tamino Minerals, Inc. is pleased to announce to its shareholders and followers that it has a signed Funding Term Sheet with an Institutional Investor for $2,000,000 USD to fund its exploration activities and operations.
AuRico Gold Inc. today announces the pricing of its private offering of $315 million aggregate principal amount of Senior Secured Second Lien Notes due 2020. The Notes were issued with a coupon of 7.75% and sold at 96.524% of par, and are expected to result in net proceeds to the Company of approximately $297 million, after deducting the initial purchasers’ discounts and estimated offering expenses payable by the Company. The offering is expected to close on or about March 27, 2014. AuRico intends to use the net proceeds of the Notes to repurchase its Convertible Notes due 2016 that are tendered to AuRico’s offer announced March 6, 2014 to purchase any and all of its Convertible Notes, to fund principal and interest payments on any Convertible Notes that remain outstanding following the offer to purchase, to repay amounts outstanding under its existing senior secured credit facility and for general corporate purposes, which may include funding capital expenditures to support organic growth.
Santacruz Silver Mining Ltd. is pleased to announce that Canaccord Genuity Corp. and Raymond James Ltd., the underwriters of the Company’s recently closed common share offering have provided notice of exercise of their over-allotment option to purchase an additional 1,312,500 common shares of the Company at a price of $1.00 per share for total gross proceeds of $1,312,500. The closing of the exercise of the over-allotment option is scheduled to take place on Thursday, March 20, 2014.
Fortuna Silver Mines Inc. today reported revenue of $137.4 million, cash generated from operations, before changes in working capital, of $40.9 million, a net loss of $19.1 million in 2013, and adjusted net income of $9.4 million. The net loss includes a one-time non-cash tax provision of $7.7 million related to the initial recognition of the Mexican mining tax reform, and a non-cash impairment charge of $20.4 million, net of tax, related to the impact of declining silver prices on the carrying value of the Caylloma mine in Peru.
NWM Mining Corporation is pleased to announce today that subsequent to its news release dated November 7, 2013, it has filed an updated National Instrument 43-101 Technical Report on SEDAR (www.sedar.com) for its Lluvia de Oro Project in Sonora, Mexico.
Big North Graphite Corp. announces that, further to its news releases of January 10, February 24 and March 13, 2014, the Company has closed on a total of 13,333,333 units at $0.06 per Unit for aggregate gross proceeds of $800,000. The final tranche closed on March 13, 2014 and consisted of 8,275,001 Units for gross proceeds of $496,500.
SilverCrest Mines Inc. is pleased to announce the completion of its prospectus offering announced on February 19, 2014 whereby the Company issued a total of 8,855,000 common shares at a price of $2.60 per common share for gross proceeds of $23,023,000, including exercise of the over-allotment option in full. The offering was led by Dundee Securities Ltd., and included National Bank Financial Inc., Raymond James Ltd. and PI Financial Corp. as underwriters.
Primero Mining Corp. announced today that it has successfully produced the annual threshold of 3.5 million ounces of silver and will now begin selling 50% of the silver produced at San Dimas at spot prices for its own account until August 5, 2014. The Company estimates that it will sell between 1,250,000 and 1,500,000 ounces of silver at spot realized prices by August 5, 2014.
Mag Silver Corp. shares rallied on Wednesday in line with other precious metals producers after the company announced that it has received the full explosives permit to construct the the ramp decline at its joint venture Juanicipio project in Mexico.
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