Silver Viper Minerals Corp. is pleased to announce that the Company intends to undertake a non-brokered private placement financing pursuant to the Listed Issuer Financing Exemption of National Instrument 45-106 – Prospectus Exemptions to raise gross proceeds of up to $5,000,000 from the sale of up to 45,454,546 units at a price of $0.11 per Unit.
Following a scale-up in the resources (equipment/workforce) from the Company’s mining contractor, production rates at the Santana project increased in Q3 and averaged over 70,000 tonnes of total material (mineral + waste) moved per month which was in line with plans.
Arturo Préstamo, Executive Chairman and Interim CEO of Santacruz, commented, “The Company had a solid quarter in the face of a challenging commodity price environment.” Mr. Préstamo continued, “While we continue to identify and implement efficiencies at all our assets, it is important to highlight the significant changes that were made at the Zimapan mine in Mexico during the quarter. By streamlining the management team and shifting to more owner-operated mining, we were able to increase productivity and decrease costs, and expect to continue to see the benefits from these changes in the next quarter.”
Prime Chief Executive Officer Daniel Kunz commented, “We are pleased to announce our graduation to the main board of the Toronto Stock Exchange, a significant milestone in the evolution of Prime Mining Corp. Prime has already had a very productive year. We effectively doubled the Los Reyes resource as outlined in our May 2, 2023 Technical Report, released our inaugural Sustainability Report, are on track to complete some 60,000 metres of post-resource drilling, strengthened our board and management team, and increased our cash position through an early warrant exercise.”
Guanajuato Silver Company Ltd. is pleased to provide a corporate update highlighted by the appointment of Carlos A. Silva as Chief Operating Officer.
“Mexico will not sponsor or support the ISA Council in granting any exploration licenses until there is sufficient scientific information that ensures the marine environment is protected, in addition to a solid and complete legal framework,” the secretariat said in the statement.
Orex Minerals Inc. is pleased to announce that the Company intends to undertake a non-brokered private placement financing to raise gross proceeds of up to $1,000,000 from the sale of up to 6,666,667 units at a price of $0.15 per Unit, each Unit consisting of one common share of the Company and one warrant.
Paddy Nicol, CEO of Orogen, commented: “Orogen’s profit primarily resulted from record royalty revenue from the Ermitaño gold-silver Mine where increased production rates, strong gold grades and improvement in recoveries were achieved. Prospect generation remains profitable and we continue to obtain payments and transact on projects that organically grow our royalty portfolio. In addition, our positive cashflow from operations continues to strengthen our balance sheet and allows us to take advantage of counter cyclical opportunities in the current market.”
Bear Creek Mining Corporation announces that further to the Company’s news release dated October 19, 2023, the Company has entered into an amendment agreement to amend the convertible promissory note in the amount of US$26,632,458 issued to Equinox Gold Corp. on October 19, 2023.
Eric Caba, Bear Creek’s President and CEO, stated, “We are systematically addressing the short term challenges in front of us to realize the potential in Mercedes and recoup the value lost across the last year. The restructuring of the debt and stream burden has set Bear Creek up to begin positive cash generation going forward and continue to advance Corani, our cornerstone asset. We are building a management and technical team, supported by the Board, that is focused on increasing margins as well as production.”
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