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 companys 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 years Prospectors and Developers Association of Canada conference, said PDAC Executive Director Ross Gallinger.
Mining companies will meet at the industrys biggest conference next week under the darkest cloud in a decade, but a recent bounce in the price of gold and silver and a trickle of investment and acquisitions are starting to pierce the gloom.
Compañia de Minas Buenaventura S.A.A., Peru’s largest publicly-traded precious metals mining company, announced today results for the fourth quarter 2013 and full year periods, ended December 31, 2013. All figures have been prepared in accordance with IFRS (International Financial Reporting Standards), on a non GAAP basis and stated in U.S. dollars.
New Gold Inc. today announces fourth quarter and full-year 2013 financial and operational results, delivering the lowest annual total cash costs in the company’s history. The company previously released its preliminary operational results on February 6, 2014.
Orex Minerals Inc. is pleased to announce that it has entered into an agreement with M Partners Inc. to act as lead Agent in respect of a best efforts private placement offering of up to 20,000,000 units of the Company at a price of $0.25 per Unit for gross proceeds of up to $5,000,000. Each Unit will consist of one common share and one half of a common share purchase warrant. Each whole Warrant will be exercisable for one common share of the Company at $0.30 for a period of 24 months from closing.
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