“We were extremely pleased to announce last week, that mining operations had resumed at the Avino Mine. I wish to extend our sincere appreciation to the management team in Mexico for their tireless efforts as they prepared the way over many months for this positive outcome. Further, I am excited about the released initial drill results from our ongoing 2021 drill program.”
SilverCrest Metals Inc. is pleased to report the Company’s unaudited financial results for the second quarter of 2021.
“With regard to the exploration plans that we reported on in the last quarter, the development of the manto discovered in the northwest part of the mine has commenced and has contributed to the quarterly production, as well as increasing the proven and probable reserves. The well being drilled in the eastern part of the mine was concluded and the ramp being developed to access the positive drill holes is ongoing.”
“At La Colorada, the ventilation restrictions impacted exploration activities, however, recent improvements to the ventilation circuit will allow us to ramp up exploration drilling at this long-life mine where we have over 100 million ounces of silver mineral reserves and 192 million ounces of inferred resources, including the large skarn deposit.”
Magna Gold Corp. is pleased to provide an update to its previously announced non-brokered private placement of C$10,000,000 convertible debentures.
“Strong mine operating earnings of $103 million and strong operating cash flow in Q2 have further improved our financial position. Together with the sale of non-core assets, our cash and short-term investments increased by $34 million in Q2,” said Michael Steinmann, President and Chief Executive Officer.
Pete Dougherty, President and CEO stated: “It was a tremendous operational and financial quarter for Argonaut Gold. We set new quarterly records for GEO production and revenue and provided strong cash flow and earnings. We also continued to advance the construction of the Magino project, which is tracking on schedule for first gold pour during the first quarter of 2023.”
“These court decisions are the product of rank corruption and are a black mark on the judicial system of Mexico,” stated Brendan Cahill, President and CEO. “The value ascribed in the judgment is impossible based on evidence, facts or law. Simply put, the maximum value realizable by the plaintiff from the agreement on La Antigua was US$500,000 in the best-case scenario, yet the Miguel Auza Mine was shut down in 2008 almost immediately after operations commenced.”
“We are pleased to enter the second half of the year with a robust cash balance of $125 million and a clean balance sheet ahead of a potential construction decision for Terronera later this year. We will be completing the Feasibility Study during Q3 with a construction decision anticipated shortly thereafter.”
Luis Marchese, CEO of Sierra Metals, commented, “Despite the challenges we faced in relation to the COVID-19 pandemic in the second quarter, the Company continues to see improvements in consolidated throughput, revenue, EBITDA and net income over the same period in 2020 and over the previous quarter in 2021. Our teams are using best practices to manage the impact of the pandemic. However, in reflecting the ongoing challenges of the COVID-19 pandemic and the impact on operations in the first half of 2021, we saw the need to revise our production, cost, and EBITDA guidance to align with the outlook for the year.”
Mexico Mining Center © 2021 / All Rights Reserved
