Category: Investor’s Corner

Major Drilling Group International Inc. today reported results for its third quarter of fiscal year 2014, ended January 31, 2014.

Thousands of junior mining companies are prospecting for cash so they can keep up the hunt for new deposits amid the downturn in commodity prices.

In the ongoing effort to continually improve operations and to realize further operational efficiencies over the coming years, after achieving the senior producer status in 2013, the Company has decided to promote Mr. Salvador García to the role of Chief Operating Officer starting July 1, 2014. Mr. García has been partnering with Mr. Ramon Davila to manage the Company’s Mexican operations since January 2013 and has proven his ability to take over this important operational role. Mr. García is well respected and highly regarded within the Mexican mining industry with over 35 years’ experience in senior positions in all aspects of mining operations.

Almaden Minerals Ltd. is pleased to announce the completion and filing of the National Instrument 43-101 Independent Technical Report for the Company’s Tuligtic Gold-Silver Project, Mexico. The Independent Technical Report was prepared following the guidelines of the Canadian Securities Administrators National Instrument 43-101 and Form 43-101F1 and was authored by Kris Raffle, P.Geo. of APEX Geoscience Ltd. and Gary Giroux, M.A.Sc., P.Eng. of Giroux Consultants Ltd. both of whom are Qualified Persons as defined by National Instrument 43-101 and have reviewed and approved the contents of this news release. The report is filed on SEDAR and can be viewed on the SEDAR website, www.sedar.com, and Almaden’s website, www.almadenminerals.com.

Tarsis Resources Ltd. is pleased to announce that the private placement announced on February 25, 2014 to raise $200,000 for exploration work on the La Tejona area of the Yago property has now been fully subscribed and will close shortly.

For the year ending December 31, 2013 Golden Minerals recorded revenue of $10.7 million and costs of metals sold of$17.5 million for a negative gross margin of $6.9 million related to the sale of metals at the Velardena Properties inMexico. The Company suspended mining operations at Velardena on June 19, 2013 due to depressed precious metals prices in order to conserve the asset until the Company is able to create new mining and processing plans that at then-current silver and gold prices indicate a sustainable cash margin. The Company recorded a 2013 net loss of $240.4 million, of which $210.7 million is attributable to non-cash impairment charges, net of tax. Approximately$204.2 million of the net impairment charges were recorded in the second quarter 2013 related to lower metals prices and to the suspension of mining and processing activities at Velardena in June 2013. The remaining $6.5 million in non-cash impairment charges, net of tax, were recorded during the fourth quarter 2013.

During the quarter, our four operating mines produced 107,000 ounces of gold at very low cost. This enabled us to generate over $90 million of cash flow in the quarter. In 2013 New Gold produced 398,000 ounces of gold at a cash cost of $377 an ounce, representing the lowest cash costs in our company’s history. Our low cost position enables us to generate strong cash flows in 2013. After adjusting for non-recurring items, we generated $249 million of cash flow. Our adjusted earnings in the quarter were $0.04 per share and for the full year were $0.13 a share.

On 27 February 2014 Nyrstar was informed by Blackrock that its notification dated 13 December 2012 on significant shareholdings in accordance with Belgian Law of 2 May 2007 on the disclosure of significant shareholdings in listed companies was incorrect.

Canamex Resources Corp. said Friday it has closed an equity financing with Gold Resource Corp and various insiders of the company, priced at a “then-premium” to market.

Shrugging off a frigid Toronto winter, mining types are feeling a glow of optimism heading into this year’s Prospectors and Developers Association of Canada conference, said PDAC Executive Director Ross Gallinger.