GR Silver Mining Ltd. announces that it proposes to undertake a non-brokered private placement of up to 15 million units at a purchase price of $0.10 per Unit, to raise total gross proceeds of up to $1.5 million.
Vizsla Silver Corp. is pleased to announce its intention to spin out the shares of Vizsla Royalties Corp., a wholly-owned subsidiary of Vizsla Silver, to the Company’s shareholders. Vizsla Royalties currently holds, indirectly, a net smelter royalty on any potential future mineral production at Vizsla Silver’s flagship, 100% owned Panuco silver-gold project located in Sinaloa, Mexico.
CEO Vikas Ranjan commented: “We believe that 2024 will be a key year for Vortex, as the company will be advancing towards permitting both VMS projects in Mexico while advancing the highly prospective brownfield Illapel project in Chile. The Illapel project is adjacent to the Rio 27 mine, which has processed approximately 400,000 tonnes of ore at an average grade of 1.39% copper. Our senior geologist John Larson has identified highly prospective drill targets adjacent to and along the strike from the Rio 27 mine.”
“Our 2023 production results reflect the significant contribution from the assets we acquired through the Yamana transaction, and are broadly in line with our expectations,” said Michael Steinmann, President and Chief Executive Officer.
Jody Kuzenko, President and CEO of Torex, stated: “2024 will be a transformational year for Torex as we wind down the ELG Open Pits, continue steady production from ELG Underground, commence stope mining at Media Luna, complete an internal economic study on developing EPO, and further bolster our ongoing drilling success, all while running one of the safest operations in the industry. With 2024 expected to be the final year of significant investment in the Media Luna Project, Torex is well positioned to return to positive free cash flow in 2025.”
“The Avino Mine continued to provide consistent results in the fourth quarter of 2023; however, overall production was impacted by mining in lower grade areas, and lower recovery rates,” said David Wolfin, President and CEO of Avino. “Although grades were lower than 2022, we did see positive increases as we moved into other blocks of the mine compared to the third quarter.”
Riverside’s President and CEO, John-Mark Staude, stated: “We are in a good position for the New Year with a strong balance sheet, excellent projects and the key transactions that Riverside completed in 2023, setting us up now for an excellent 2024. To our knowledge, Riverside is one of the better positioned companies, compared to our peers, to benefit from a potential incoming general commodities sector upside.”
Eric Caba, President and CEO of Bear Creek, states, “We are extremely pleased that the efforts we have made at Mercedes to improve production are finally bearing out, with a 47% increase in gold production in Q4 compared to Q3 2023. Q4 2023 saw month-over-month improvements culminating in an output of 5,198 gold ounces in December 2023 – the highest monthly level of gold production at Mercedes since April 2019. We have had to go back to fundamental basics in the mine and focus on increasing development, managing costs, and placing key talent in the right positions.”
Goldgroup Mining Inc. is pleased to announce it is in the process of arranging convertible debt financing of up to USD $400,000 of which USD $100,000 has already been received.
“First Majestic finished 2023 on a strong and positive note, despite the challenges endured earlier in the year, and I would like to congratulate the team on their hard work and efforts,” said Keith Neumeyer, the Company’s President & CEO. “Santa Elena had a stellar year with production reaching a record 9.6 million AgEq ounces while maintaining high safety standards. We are enjoying the dividends from the investments we made at Santa Elena over the last few years, and we are thrilled with these achievements.”
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