VanGold Mining Corp announces that due to increased demand the Company has expanded the size of its non-brokered private placement financing announced July 21, 2020 The Financing will now consist of a total of 24,500,000 units at a price of $0.155 per Unit for gross proceeds of $3,797,500.
I am pleased to report resilient production performance with further progress made on our mine improvement initiatives. As a result, we are maintaining our silver guidance for the full year, though we have reduced our gold guidance due to COVID-19 related working restrictions mainly at our Herradura and Noche Buena mines which have impacted production volumes.
The proceeds of the Placement will be used to fund expanded drill programs on the Company’s silver-gold exploration projects in Mexico.
Golden Minerals Company announced today that, due to demand, the underwriter has agreed to increase the size of the previously announced offering and purchase on a firm commitment basis 17,857,143 shares of common stock of the Company, at a price to the public of $0.42 per share, less customary underwriting discounts and commissions.
H.C. Wainwright & Co. is acting as the sole book-running manager for the offering.
The Almas project was taken over by Aura early in 2018, as result of the merger of the Company with Rio Novo Gold.
VanGold intends to use the net proceeds from the Financing to accelerate the development of the El Pinguico silver and gold project in Guanajuato, Mexico, and for general corporate and working capital purposes. Specifically, the Company intends to initiate an underground drilling campaign to target extensions of high-grade in-situ silver and gold epithermal veins and stockworks.
“The El Niño mine continues to perform at the high-end of expectations”, stated Ewan Downie, Chief Executive Officer of Premier, “Both South Arturo and Mercedes have accumulated ore stockpiles to be processed during the third quarter and a modified mine plan, designed to increase mining efficiency and expand operating margins, has been implemented at Mercedes.”
IMPACT Silver Corp. At the request of IIROC, wishes to confirm that the Company’s management is unaware of any material change in the Company’s operations that would account for the recent increase in market activity.
Mexico-based steelmaker Altos Hornos de México (AHMSA) is reportedly seeking a merger or partnership with Grupo Villacero, another steel company based in Mexico, to help it avoid bankruptcy.
Major Drilling Group International Inc. is one of the world’s largest drilling services companies primarily serving the mining industry. Established in 1980, Major Drilling has over 1,000 years of combined experience and expertise within its management team alone.
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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