Prime Mining Corp. has made payment of $1.1 million to Vista Gold Corp. as per the terms of the acquisition of the Los Reyes Gold-Silver Project, located in the State of Sinaloa, Mexico.
As announced on June 15, 2020 (see news release), Prime Mining is required to pay Vista $2.1 million in lieu of being granted certain royalties and back-in rights relating to the Guadalupe de los Reyes gold / silver project in Mexico. The remaining $1.0 million payment is due no later than July 2021. If Prime Mining fails to make the remaining payment, Vista will have the right to reinstate its royalties and back-in rights.
These alternatives could include, among other things, the sale of part or all of the Company, a sale of some of the assets of the Company, a merger or other business combination with another party, or other strategic transactions. The Company has engaged CIBC World Markets Inc. to assist the Board of Directors in its review of strategic alternatives.
Sean Roosen, Chair and Chief Executive Officer of Osisko Development stated: “We are thrilled to have raised over CDN$200 million since October 2020 to capitalize Osisko Development. The proceeds that we’ve raised, coupled with our equity investments and expected near-term cash flows, forms the foundation of continued development of the Cariboo Gold Project. We thank our partners and the investment community for your support over the past couple of months to put Osisko Development in position to succeed out of the gate.”
Fortune Bay Corp. wishes to announce that it has retained the services of Vancouver-based Mars Investor Relations Inc. a full-service investor relations and consulting services company focused on the junior mining sector.
On Tuesday, January 5, 2021, OTC Markets informed the Company that it became aware of certain promotional activities concerning the Company and its common stock traded on the OTCQB Marketplace, including the distribution of two promotional newsletter emails published by CrushTheStreet.com and Wealth Research Group discussing the emerging bull market for commodities, particularly silver, and citing the Company in both publications.
Morgan Good, Chief Executive Officer of Carlyle, commented, “Carlyle is absolutely thrilled to have Mr. Inwentash join its Advisory Board. Mr. Inwentash brings with him more than thirty years of capital markets expertise, a depth of knowledge, experience and success within the junior mining resource sector that is world class, as well as a financial network that spans globally and reaches some of the most notable and prominent experts and investors in the industry.
“For the year end, despite the negative impact of the pandemic on our operations in the first semester, Aura reached over 200,000 gold equivalent ounces during the year, a +15% increase compared with 2019. We look forward to an even better year ahead for 2021.”
Bradford Cooke, Endeavour CEO, commented, “Endeavour enjoyed its strongest operational performance in two years thanks to the measures we initiated in 2019 to return the Guanacevi and Bolañitos mines to profitability. I would like to commend our operations team for their hard work, commitment and resilience during the global pandemic to meet our safety and production goals last year.”
Torex Gold Resources Inc. reports Q4 2020 gold production of 130,640 ounces and full year production of 430,480 ounces.
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