The third quarter confirmed the stability of the production in the San Martin Mine in this fiscal year. Production increases were experienced due to the higher grade of gold fed into the mill and the improvement in recovery of approximately 4 percentage points, both due to the high grade oreshoot discovered during the year as a result of investment in exploration and metallurgical research.
Regarding the arbitration proceedings, Silver Bull is being represented by the global law firm, Boies Schiller Flexner, and is financially supported by Bench Walk Advisors via a Litigation Funding Agreement for up to US$9.5 million to finance the case.
Reyna Silver Corp. is pleased to announce that it is has increased the size of its non-brokered listed issuer financing exemption (LIFE) private placement previously announced on February 14, 2024, due to investor demand. The amended Offering is for up to 20,833,333 units of the Company at a price of $0.12 per Unit for gross proceeds of up to approximately $2,500,000, increased from $1,500,000.
Hecla Mining Company today announced the appointment of Mark P. Board as a Director effective February 23, 2024.
Sierra Madre Gold and Silver Ltd. is pleased announce a non-brokered private placement with an existing long-term institutional shareholder the Company. The Offering consists of 3,571,428 shares for aggregate gross proceeds to the Company of $1,000,000 at a price of $0.28 per share.
For 2024, the San Agustin mine in Mexico is expected to remain operating. However, La Colorada has been placed on care and maintenance due to the large capital required to pre-strip the mine. El Castillo is in reclamation.
The Company generated annual revenues totaling $573.8 million in 2023, or 8% lower compared to 2022, primarily due to the temporary suspension of mining activities at Jerritt Canyon in March 2023. As a result, the Company realized a 10% decrease in the total number of payable AgEq ounces sold, which was partially offset by an increase in payable AgEq ounces produced at Santa Elena, combined with a 4% increase in the average realized silver price.
Kootenay Silver Inc. announces that it has closed the second and final tranche of its previously announced (see news releases dated February 1, 5 and 16, 2024) non-brokered private placement of units of the Company at a price of $0.75 per Unit for aggregate gross proceeds of $237,525. The Company received total aggregate gross proceeds of $3,720,587 from the Offering.
Eric Caba, President and CEO of Bear Creek states, “I am pleased to welcome Zoya Shashkova to the Company. Her deep understanding of finance and accounting will be invaluable as we continue to develop and grow Bear Creek. Zoya’s meticulous style and “boots on the ground” approach will add significant value to the management team.”
Beginning next week, Rob Atkinson will transition all of his remaining responsibilities to Newmont’s new COO, Natascha Viljoen. He will then officially step down from the Newmont Executive Leadership Team, effective May 2, 2024.
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