Fortuna Silver Mines Inc. reports that it has paid down $40 million of its revolving credit facility at the end of the third quarter of 2023, using cash on hand.
Michael W. Scherb, Founder and CEO of Appian, commented: “We are thrilled to have closed Fund III, with very strong support from existing and new investors. Fund III provides exposure to key trends including inflation protection, the energy transition and the need for an independent and stable supply of critical minerals to support the shift away from oil and gas. As we continue to see increasing interest in metals and mining, Fund III will build on the successful track record of Funds I and II, deploying our unique operating model to bring mines into production and generate outsized returns for our investors.”
Newmont Corporation confirms it has reached a preliminary agreement with the National Union of Mine, Metal, and Allied Workers of the Mexican Republic aiming to end the strike initiated by the Union on June 7, 2023 at Minera Peñasquito in the Mexican state of Zacatecas.
Pan American Silver Corp. has temporarily suspended all operating activities at its La Colorada mine in Mexico due to security concerns at the mine site and the surrounding area. In the early hours of October 5, 2023, the operation experienced an armed robbery of two trailers of concentrate.
As part of the deal, workers at the Penasquito mine will receive 8% more pay for each shift, with the increase retroactive to Aug. 1, the mine workers union said in a statement. Each of the about 2,000 unionized workers will also get an equal share of a total 152 million pesos ($8.3 million).
A four-month-long labor strike has been lifted at Newmont’s Penasquito gold mine in Mexico after a deal was reached between workers and the firm to boost salaries, according to statements from the union and Mexico’s labor ministry on Thursday.
“The approvals include ones from the Australian Foreign Investment Review Board and competition authorities in Australia, Canada and Papua New Guinea,” Newcrest said in a statement.
Sandstorm Gold Ltd. is pleased to report that the Company sold approximately 21,100 attributable gold equivalent ounces and realized preliminary revenue of $41.2 million during the three months ended September 30, 2023, (22,606 attributable gold equivalent ounces and $39.0 million in revenue for the comparable period in 2022).
James Anderson, Chairman and CEO, said, “The numerous mineralized systems in the Guanajuato district have exhibited high grades for over 450-years; with this in mind, we are adjusting a number of our operational strategies in order to focus on mining higher grade material at abridged volumes.”
Fortuna Silver Mines Inc. reports record gold and gold equivalent production for the third quarter of 2023 from its five operating mines in West Africa and Latin America. Gold and silver production for the quarter was 94,821 ounces and 1.7 million ounces, respectively, or 128,671 gold equivalent ounces, including lead and zinc by-products.
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