Added Mr. Steinmann: “Cash flow generation of $114.1 million in Q1 reflects the Company’s strong operating performance before the impact of the COVID-19 related mine suspensions. However, earnings in the period were significantly impacted by non-cash, mark-to-market investment losses and non-cash tax expense due to COVID-19 related currency devaluations.”
Jorge A. Ganoza, President and CEO, commented, “At Fortuna, we are committed to integrate sustainability into our business strategy in an open and transparent manner.”
“The Company is pleased to close the oversubscribed financing and welcomes Alamos as a strategic investor,” stated Brian Skanderbeg, President and CEO of GFG. “With a strong treasury and multiple highly prospective targets, we are excited to resume our 2020 exploration programs to demonstrate the potential for the Pen Gold Project to host multiple gold deposits next to the world-class Timmins gold camp.”
Portree holds various legal or royalty interests in certain mineral properties in Mexico, including the Company’s Bilbao property and an asserted claim to a 2% net smelter royalty on six mining concessions located adjacent to the Cozamin Mine in Zacatecas operated by Capstone Mining Corp.
“El Nino produced strong cash flow during Q1 and will do so for the remainder of the year.”, stated Ewan Downie, President & CEO. “When Mercedes ramps up following the Mexican Government imposed care and maintenance, we will implement further initiatives to reduce costs, improve grade and maximise the profitability of the operation.”
Fred Stanford, President & CEO of Torex, stated: “Operationally this was a solid quarter, with 108,537 gold ounces produced. The production performance was complemented by the continued outstanding safety performance.”
CZL has formally applied for exemption from the ban of non-essential works due to the remote location of the mine and Aldama Plant. CZL awaits the ruling by the Chihuahua State Health Authority and the State Mines department.
“First quarter production at both our mining units were within expected production ranges,” stated Mr. Jason Reid, President and CEO of Gold Resource Corporation. “While the mandated business suspension at the end of the quarter isn’t ideal for business, I was pleased to see Mexico join in global efforts to combat the COVID-19 virus.”
Fortuna Silver Mines, Inc. provides an update on discussions with its senior lenders to amend the financial covenants contained in its US$150 million credit facility.
Palamina Corp. will conduct a non-brokered private placement offering of up to 6,000,000 units at a purchase price of $0.125 per Unit, for aggregate gross proceeds of up to $750,000.
Globexplore is a customer focused, technology driven mineral exploration drilling contractor devoted to top of class drilling methods and techniques that only years of experience can achieve. Every day we strive to be the industry leader by providing the highest rate of performance, professionalism, safety and environmental responsibility.
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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The DOF is the organ of the Constitutional Government of the United Mexican States, which has the function of publishing in the national territory, to so that they are properly observed and applied in their respective areas of competence.
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