AuRico Gold Inc. today announced that it has sold its approximate 11.1% equity interest in Endeavour Silver Corp. consisting of approximately 11 million Endeavour common shares, on an underwritten block trade basis, for gross proceeds of C$95 million (approximately US$97 million). The syndicate was jointly led by CIBC, BMO Capital Markets and Dundee Securities Ltd.
OTC Markets Group Inc., operator of Open, Transparent and Connected financial marketplaces, today announced that Esperanza Resources Corp. (OTCQX: ESPZF; TSX.V: EPZ), a mineral exploration company, is now trading on the highest OTC marketplace, OTCQX®.
SilverCrest Mines Inc. is pleased to announce production figures for the third quarter of 2012 from its 100% owned Santa Elena Mine located in Sonora, Mexico.
Baja Mining Corp. announces that the Korean Consortium has advanced additional US$13.3 million to Minera y Metal¨²rgica del Boleo S.A. de C.V. for the construction of the Boleo Project.
Arco Resources Corp. announces that Mr. John Sutherland has resigned as a Director of the Company to focus on his increased duties with Goldgroup Mining Inc. Mr. Sutherland has agreed to join the Company’s Corporate Advisory Board, through which he will continue to provide advice and guidance to the Board. The Board wishes to thank Mr. Sutherland for his contributions to the Company’s Board and wishes him every success in the future.
Mexican gold miner, Argonaut Gold (TSE:AR), reached a friendly $341-million deal to acquire Prodigy Gold (CVE:PDG), an exploration company that focuses on Eastern Canada.
Orex Minerals Inc. and Astral Mining Corporation announce that they have agreed to merge and form a combined gold and silver exploration and development company, which will focus on the advanced-stage Barsele Gold Project in Sweden, the Coneto Silver-Gold project, and the Los Crestones Gold-Silver-Copper Project in Mexico.
The silver market continues to be a white knuckle ride with volatility being the watch word of the day. The oscillations can be gut-wrenching as we have warned about many times. However, if you have the stomach for it the silver space can be profitable for you. As regular readers will know, our philosophy has been to acquire physical silver as a top priority, followed by a small section of good quality mining shares and finally for those of a more adventurous nature a well thought out strategy in the options sector can give your portfolio a boost.
Argonaut Gold Inc. (AR.TO) had record gold production of 31,074 ounces during the 3rd quarter ended September 30, 2012. This included 24,575 ounces at its 100% owned El Castillo Mine, which is located 100 km north of the city of Durango, Mexico and 6,499 ounces at its 100% owned La Colorada Mine, which is located 50 kilometers southeast of Hermosillo, Mexico.
Scorpio Mining Corporation (SPM.TO) reported that production in the third quarter ended September 30, 2012 from its Nuestra Senora operations totalled 534,075 silver equivalent ounces.
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