AuRico Gold Inc. reports financial results for the three and nine months ended September 30, 2012 and provides an update on the Young-Davidson mine. All amounts are in U.S. dollars. The Company will host a conference call on Tuesday, November 13, 2012 beginning at 10:00 a.m. Eastern Time.
Looking at the Golden Minerals (AUMN) chart since September 13, you would think that their mine had caved in or someone had stolen all the cash they had in the bank. What has actually happened, however, is they raised $37M by issuing 19% more shares at $5.75, with investors buying those shares hand-over-fist, in a single day, as a great bargain. In my previous article I explained why the issuance of extra shares at $5.75 does not imply that the fair value of the stock has to drop to $5.75. In fact, such an issuance might actually increase the fair value of the stock, if it increases the expected future cashflow for the company (which it did in the case of AUMN, as the newly raised cash will allow them to perform the production expansion to 850 tpd throughput and beyond in 2013).
IMPACT Silver Corp. announces the financial and production results for the third quarter ended September 30, 2012. IMPACT currently operates three underground silver mines within the Royal Mines of Zacualpan Silver District in Mexico. Throughout 2012, IMPACT has also been constructing two new mines; the Oscar Mine in the Royal Mines of Zacualpan District and the Capire Mine in the Mamatla Mineral District. Upon beginning pilot production at the Capire Mine in mid winter, IMPACT will have successfully entered its next phase of significant growth potential. Additionally, with the future commencement of production at the Oscar Mine, IMPACT anticipates higher silver production. IMPACT continues to maintain a strong positive net working capital balance, a robust cash position of approximately $20 million in the treasury and no debt. All amounts presented are in Canadian dollars.
Southridge Minerals, Inc. is pleased to announce that Mr. Enrique Aubry de Castro has been appointed to its Board of Directors, effective as of today.
Bradford Cooke, CEO and Director of Endeavour Silver Corp. is pleased to announce the appointment of Luis R. Castro Valdez, Ing., as Vice President of Exploration for the Company, effective immediately.
Gold Resource Corporation today announced it has hired Mr. Barry Devlin as the Company’s new Vice President of Exploration. Mr. Devlin will join the Company on or before January 5, 2013. Mr. David Reid, the Company’s current Vice President of Exploration and co-founder of the Company, will be taking a less active role in the Company’s day to day operations. Gold Resource Corporation is a low-cost gold producer with operations in southern Mexico. The Company has returned over $63 million to shareholders in monthly dividends since declaring commercial production July 1, 2010, and may be the only Company offering shareholders the option to convert their cash dividends into physical gold or silver.
Oremex Gold Inc. announces that Mr. David Terry has resigned from his position of Chief Executive Officer & President of the Company to pursue external commitments.
Golden Minerals Company announces results for the quarter ending September 30, 2012 and $2.0 million in fourth quarter exploration property sales.
Evrim Resources Corp. is pleased to announce that it has closed the non-brokered private placement announced on October 25,2012. The company has issued 4,000,000 shares for gross proceeds of $1,320,000. The shares will be subject to a 4 month hold expiring on March 7, 2013. Proceeds from the private placement will be used for working capital purposes. Finder’s fees of $3,920 were paid in conjunction with the placement.
Strong production and exploration from Kensington mine can only buffer its parent company, Coeur dAlene Mines Corporation, from unexpected extra costs at mines in Mexico and Bolivia.
Mexico Mining Center © 2021 / All Rights Reserved
