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.
Gold Resource Corp shares rocketed nearly 11% on Wednesday after the company announced a high grade gold and silver intercept at a new vein on its Arista deposit, which forms part of the company’s El Aguila project in Mexico.
Bowmore Explorations Ltd. is pleased to announce that it has completed the financing through the London based investment group Global Resources Investment Trust Plc. pursuant to which Bowmore has acquire 518,246 ordinary shares of Global Resources Investment Trust Plc., valued at 1 British Pound per GRIT Share (or total value of $960,000 Canadian) in exchange for 6,000,000 common shares of Bowmore valued at $0.16 per Bowmore share. Global Resources Investment Trust Plc announced Friday March 7th, 2014 the admission of its ordinary shares to the premium listing segment of the Official List of the UK Listing Authority and to trading on the London Stock Exchange’s main market for listed securities.
Golden Tag Resources Ltd. wishes to provide an overview of operations including cost reductions in 2013 and going forward into 2014. In an effort to conserve funds, the Company in 2013 significantly reduced direct operating expenses (unaudited) by an amount of $198,383 or 48% from $413,683 in 2012 to $215,300 for the same period in 2013. Also, Golden Tag announces that it has signed two executive service contracts, which provide for significantly reduced current compensation to the Company’s President/CFO and its CEO in light of market conditions. The President’s agreement provides that from January 1, 2013 the historical compensation of $145,000 year is reduced to a base fee of$65,000 unless and until the Company has a minimum of $100,000 in unallocated working capital. The $80,000 is not accrued during any period when the minimum working capital is not in-hand but would be accrued if the agreement is terminated without cause by the Company before its 5 year term expires. There is a 36 month change of control severance based on the historical level reflective of 23 years of service to the Company. The CEO has been reduced to a base Fee of $20,000 per year and a per diem during periods of exploration activity. The CEO is entitled to a lump sum of $200,000 if there is a change of control within the three year term of the agreement reflective of 8 years of service.
IRVING, TX, Mar 12, 2014 (Marketwired via COMTEX) — (otcqb:DYNR) — DynaResource, Inc., along with DynaResource de Mexico SA de C.V., the 100% owner of the San Jose de Gracia Project in Sinaloa State, Mexico announce plans to consolidate legal actions against Goldgroup Mining, Inc. and Goldgroup Resources, Inc.
Baja Mining Corp. is pleased to announce that its common shares have been approved for listing on the TSX Venture Exchange. The Shares will be delisted from the Toronto Stock Exchange at the close of business on Friday, March 14, 2014 and commence trading on the TSX Venture Exchange at the open of business on Monday, March 17, 2014 under the symbol BAJ.
Silver equivalent production jumped 49% in the fourth quarter, to 3.0 million ounces, as pure silver output increased 56% and gold production rose 37%. The company said plant throughputs, ore grades and metal recoveries were higher at all of its three mines, which include the Guanacevi mine in Durango state, and the Bolanitos and El Cubo mines in Guanajuato state in Mexico.
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