Category: Investor’s Corner

Lincoln Mining Corporation announces that it has received a C$300,000 demand loan from James Dales, a director of the Company, to fund Lincoln’s current working capital requirements. The Loan bears interest at 10% per annum, calculated and payable on the first day of each month, commencing September 27, 2013. Under the terms of the Loan, the Company has granted Mr. Dales a security interest in the Company’s portion of the proceeds from any future sale of the La Bufa property.

Pan American Goldfields Ltd. today announces that it has introduced several initiatives to reduce costs and rationalise its corporate administration organization and cost structure. This strategic business decision is part of the mandate to lower operating costs due to the current mining environment. Outsourcing company finance, company secretarial services and corporate compliance functions will result in an annualized net reduction in costs. Commenting on these initiatives Mr. Emilio Alvarez, CEO stated, “This process of rationalising our cost structure is simply one component of a broader range of overall tightening in our finances which we have been implementing since the new Board appointments at the Annual General Meeting on June 17, 2013.

Cliffs Natural Resources Inc. announced today that its Board of Directors has elected Stephen M. Johnson, 62, chairman, president and chief executive officer of McDermott International, Inc. to Cliffs Board. The appointment is effective Oct. 1, 2013. He will be a member of the Board’s Audit Committee and the Governance and Nominating Committee. With the addition of Mr. Johnson, Cliffs’ Board will be comprised of a total of 11 directors.

First Majestic Silver Corp. today announced further to its April 26, 2013 and July 2, 2013 news releases, that First Majestic has applied to the Court of Appeal of British Columbia for an order dismissing the appeal by Hector Davila Santos and Minerales y Minas Mexicana, S.A. de C.V. of the April 24, 2013 trial judgment in favour of First Majestic in the amount of US$93.84 million.

Freyja Resources Inc. is pleased to announce that, pursuant to the terms of the Corporation’s offer to purchase all of the issued and outstanding common shares in the capital of Cyprium Mining Corporation, Freyja has elected to postpone the take-up and payment date for the Cyprium Shares until October 15, 2013 or such earlier date as the Corporation may determine. For further details regarding the Offer, please see Freyja’s press releases dated June 18, 2013, August 1, 2013, August 9, 2013, September 9, 2013 and September 18, 2013.

A proposed 7.5% additional tax on the mining sector in Mexico will be “prohibitive” for many smaller players, Haywood Securities analyst Stefan Ioannou told BNamericas.

GoGold Resources Inc. is pleased to announce the closing of the US$35 million equity and debt financing with Orion Mine Finance, the details of which were previously announced in news releases dated July 12, 2013 and September 18, 2013.

Mercator Minerals Ltd., the copper producer that has fallen 79 percent this year, hired BMO Capital Markets to advise on a potential sale or merger as it deferred a debt payment on its Arizona mine.

Cream Minerals Ltd. is pleased to announce the results of the Company’s annual general and special meeting of shareholders held on September 27, 2013 (the “AGM”) as follows:

Mercator Minerals Ltd. announces that in light of the commodity price environment, capital market conditions and the challenges these pose for the Company, the board of directors has advanced and accelerated its ongoing process to review strategic alternatives. Its special committee of the board of directors (comprised of Robert J. Quinn, Stephen P. Quin and Ron Vankoughnett) will oversee the process on behalf of and in consultation with the full board. In addition, BMO Capital Markets has been engaged as financial advisor in connection with the process. The strategic alternatives being considered include, but are not limited to, a sale of the Company, a business combination with another entity, a sale of all or a portion of the assets of the Company, a strategic investment in the Company or any combination thereof.