Silver Bull Resources, Inc. is pleased to announce that, further to its news release of October 16, 2023, subject to approval of the Toronto Stock Exchange, it has closed its non‑brokered private placement, issuing a fully subscribed 11,685,000 units at a price of C$0.11 per Unit, for aggregate gross proceeds of $1,285,350.
Jody Kuzenko, President & CEO of Torex, stated: “Development of Media Luna continues to track well to plan, with first concentrate production remaining on track for late 2024 and commercial production in early 2025. At quarter-end, the Media Luna Project was 49% complete across engineering, procurement, underground development/construction, and surface construction.”
CEO Jonathan Price will assume the role of President and CEO, and a search will be conducted to fill the COO role.
Regency Silver has issued 3,143,400 units at a price of $0.20 per unit on this final tranche closing for gross proceeds of CAD$628,680.
Fortune Bay Corp. is pleased to announce that it has closed its previously announced non-brokered private placement for aggregate gross proceeds of $700,000.
“October production has started out strongly and the Company is confident that Q4-2023 will be its strongest silver production quarter following a challenging operating quarter in Q3-2023,” stated Americas President and CEO Darren Blasutti. “The Company is undertaking numerous operating decisions to increase both its overall silver production and its percentage of revenue generated from silver at the two operations in the coming quarters as it is anticipating much stronger silver prices in 2024.”
“We are delighted to have executed these financing documents with Auramet, which provides a fully funded and single source solution to the modest capital expenditure requirements of the planned gold mine at Cerro de Oro. Our team has had an excellent working relationship with Auramet in recent years in regard to gold sales from prior operations as well as our Santana gold mine. This has provided us great insight into how supportive a partner Auramet can be, and we are happy to have executed a funding facility which will allow us to grow the relationship with the Auramet team,” stated Doug Ramshaw, President, Minera Alamos.
The San Jose Mine is in full compliance with all material environmental laws and continues to operate under the terms of the EIA. The decision of the Court is subject to appeal by SEMARNAT, and if appealed, the permanent injunction that the Company already has will remain in effect.
“Newmont generated $1.0 billion of cash from continuing operations during the third quarter and continued to execute on our long-term strategic plan. As we look ahead to the closing of the Newcrest transaction, we are excited about the long-term value it will bring to both sets of stakeholders and our combined workforce.”
Tony Makuch, CEO, states: “Our Feasibility Study test work demonstrates the exceptional metallurgical characteristics of our Cordero deposit. Previous test work established excellent recoveries for different mining phases and variable grade profiles to generate clean, saleable concentrates. This current program was focused on optimization and was successful in significantly increasing silver recoveries to the precious metals concentrate, where higher payabilities are received, and significantly reducing reagent consumption.”
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