Aurcana Corporation wishes to announce that Dr. Sadek El Alfy, Vice President Operations, has left Aurcana Corporation. The Company would like to wish him every success in his future endeavors.
For many years, Mexico has been considered a very friendly place to explore and mine precious metals and base metals. However, that may soon begin to change if the proposed 7.5% royalty is enacted. Under the terms of the proposal, which was presented to the Mexican legislature earlier this month, a 7.5% royalty would be applied to EBITDA income (earnings before interest, taxes, depreciation, and amortization) for all mining operations. An additional 0.5% royalty would be applied to income from gold, silver, and platinum, which would bring the total tax to 8%. Earlier in the year, a 5% royalty was proposed but now it has been raised to 7.5% minimum. The proposal is currently being studied and analyzed by the mining chamber.
Canadian Mining Company Inc. reports it has received notice of cancellation September 25, 2013 of the Option and Joint Venture Agreements with Ironwood Gold Corp. on the Companys San Bernardo and Arizona Bullard Pass Gold Projects as released on February 5, 2013 and May 30, 2013. Ironwood has been unable to meet its obligations laid out in the Agreements due to the difficult conditions facing junior mining companies in funding exploration.
Prospero Silver Corp. is pleased to announce that it has completed the non-brokered private placement first announced on September 4, 2013 of 5,000,000 Shares at a price of $0.05 per Share, for gross proceeds of CDN $250,000.
Torex Gold Resources Inc. is pleased to announce that it has filed a technical report prepared in accordance with National Instrument 43-101 in support of the Company’s September 16, 2013 news release, which included an inferred mineral resource estimate for its Media Luna Project in Mexico.
Gold Resource Corporation declares its monthly instituted dividend of $0.03 per common share for September 2013 payable on October 23, 2013 to shareholders of record as of October 11, 2013. Gold Resource Corporation is a low-cost gold producer with operations in the southern state of Oaxaca, Mexico.
Invecture Group, S. A. de C. V. and Kimber Resources Inc. jointly announced today that the parties have entered into a support agreement, pursuant to which Invecture Group has agreed, subject to the terms and conditions of the Support Agreement, to make an offer to acquire all of the outstanding common shares of Kimber for C$0.15 in cash per share by way of a take-over bid.
Orex Minerals Inc. announces that it is undertaking a non-brokered private placement for gross proceeds of up to $5,000,000. The Offering consists of up to 20,000,000 Units of the Company at a price of $0.25 per Unit. Each Unit will consist of one common share and one half of a transferrable common share purchase warrant. Each whole Warrant will be exercisable for one common share at $0.30 for a period of 24 months from closing.
American Consolidated Minerals Corp. announces that it has arranged a non-brokered private placement of up to 10,000,000 units at a price of $0.15 per Unit, for gross proceeds of up to $1,500,000.
Aurcana Corporation is pleased to announce the appointment of Andrew Kaczmarek, Director, as interim Chief Operating Officer effective immediately.
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