“Unlike many governments around the world today, the Kazakh government is very supportive of the mining sector, a view which is highlighted by the fact that numerous major mining companies have recently set up an office in the country and acquired exploration licenses. We expect to provide more details about the Beskauga project itself in the coming months.”
Its fourth quarter net profit was wider than the year-ago period, up 67% to reach $1.27 billion, according to the filing.
“After completing a high-level review of the Las Minas project followed by a comprehensive site visit, we look forward to conducting a PEA on the project for Mexican Gold. Although the project is located in an area of steep terrain, it has good access, power, and water infrastructure elements in place.”
Richard C. Adkerson, President and Chief Executive Officer, said, “During 2020, our global team responded to the challenges of the pandemic in an exceptional fashion, safeguarding our people, communities and assets as we executed and delivered on our clearly defined strategy.”
For Magna, 2020 was a year full of achievement, goal fulfillment and great transformation. In the face of an unquestionably challenging period for our industry and with limited capital, we were able to grow our company through strategic acquisitions and targeted exploration as we embarked on our journey to evolve from a junior exploration company to an intermediate gold producer in Mexico.
Prospero Silver Corp announces that effective open of trading, Tuesday January 26, 2021, the Company’s listing will transfer to NEX, as a result for not maintaining the requirements for a TSX Venture Tier 2 company.
Magna Gold Corp. announces that, as a result of a review by staff of the Ontario Securities Commission, it is issuing the following news release regarding the Company’s technical disclosure in respect of the Company’s Mercedes property.
The proceeds from the sale of the CDE Flow-Through Shares will be used on development expenses on the Magino project as permitted under the Tax Act to qualify as CDE.
The Private Placement remains subject to acceptance of the TSX Venture Exchange and is expected to close immediately prior to or concurrent with the Company’s acquisition of the El Cubo mine and mill complex.
Allen Palmiere, President and CEO, said “Our Oaxaca Mining Unit delivered solid production results during a demanding 2020 amid the global pandemic. While COVID-19 is expected to remain a challenge in the short to medium term, our team has done an admirable job managing the situation. The Company finished the year with a strong balance sheet, including $25.4 million in cash, which provides us with flexibility as we move to reinvest capital in Mexico to increase the productivity and the life of the operations.”
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