Mexican mining and transport company Grupo Mexico on Tuesday reported a net profit of $615 million for the second quarter, up 25% from the year-earlier period.
The Company intends to use the net proceeds from the Offering for working capital requirements and other general corporate purposes.
The Company has entered into a definitive agreement with Electrum Global Holdings L.P. to acquire Electrum’s 60% ownership interest in Southern Silver Holdings Limited for current and future cash and share payments totaling US$15.0 million. SSHL is a holding company that wholly owns Minera Plata del Sur S.A. de C.V.
Mr. Silva continued; “This acquisition is expected to pave the way for the future growth of Santacruz towards becoming a mid-tier silver producer. We wish to thank Peñoles management for their support throughout this process.”
Golden Tag Resources Ltd. announces that the Company will arrange a non-brokered private placement pursuant to which it will sell up to 20,000,000 Units at a price of C$0.28 per Unit to raise aggregate proceeds of up to $5,600,000. The Offering is subject to an over-allotment option allowing Golden Tag to increase the number of Units sold by an additional 5,000,000 Units for total aggregate proceeds of $7,000,000, if fully exercised.
Glenn Jessome, President and CEO of Silver Tiger, commented, “We are pleased to have Mr. Sprott’s support along with that of our other strategic institutional resource investors. We are now fully funded to drill the high grade vein extensions to the North and South of the historic El Tigre Mine.”
Fortune Bay Corp. is pleased to announce plans for the second half of 2020, focused on advancing the Goldfields Project located in northern Saskatchewan.
The Company intends to use the net proceeds from the Offering for working capital requirements and other general corporate purposes.
Ruben Padilla, President and CEO of Sable stated, “We are very pleased with these first results that demonstrate the existence of very high-grade silver ore shoots at El Fierro. These results confirm that a very strong mineralised system is present at El Fiero. We are also greatly encouraged with the high gold values as gold was never assayed historically at El Fierro. We are looking forward to providing additional results from the ongoing El Fierro exploration program in the near term.”
According to PrivatePlacements.com Mexico led the globe in gold-related financings, with $606 million raised in June alone.
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Maza Drilling is a Mexican company established in 2007 in Mazatlán, Sinaloa. Our Canadian founder, Mr. Guy de Launiere, has over 20 years of international experience managing diverse drilling operations. Maza Drilling strives to compete at the highest levels in terms of recovery, effectiveness, efficiency, and affordability at every project while keeping at the forefront of technology to meet our customer’s needs in this demanding market.
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