The closing of the Empress US$5M Stream is the second stage of a larger US$25 million financing package organized by an investor syndicate with members Accendo Banco S.A. de C.V., Empress Royalty Corp., & Endeavour Financial as detailed in Telson’s February 23rd news release.
Chris Wright, Chairman & CEO, commented: “We are excited to conclude our upgrade and begin trading on the OTCQX, which will give investors better market information, transparency, liquidity, and ease of trading in the company’s stock.”
“We continue to see improved production from Platosa after the changes we made in mid-2020, with our third consecutive quarter of more than 21,000 tonnes mined,” stated Brendan Cahill, President & CEO. “The mine is reaching a good steady state of production, though we continue to see opportunities to improve mill recoveries.”
Mike Struthers, CEO, commented: “This is the start of a very exciting year for Candelaria as we evolve from an explorer to a producer in a little over 12 months, and as we execute an exciting exploration program at the company’s flagship asset in the Caballo Blanco district.”
“After a record-setting previous quarter, silver production in the first quarter came in slightly below budget primarily due to lower average silver grades and an extreme cold weather event in the month of February which reduced milling rates at La Encantada,” said Keith Neumeyer, President & CEO.
Gold has again risen to all-time highs because investors have again rushed to its traditional ‘safe haven’. It rises not despite the pandemic… but because of the global crisis.
“Our safety protocols are being meticulously executed in order to protect our workforce and the communities that we operate in. As previously stated, the first quarter was planned to be a low production quarter due to heavy stripping. Production is expected to ramp up quarter-over-quarter for the remainder of the year as mining progresses into sectors with lower strip ratios.”
Kenneth MacLeod, President and CEO of Sonoro, stated, “The proceeds from the increased private placement will enable our technical teams to complete additional drilling, increasing the results available for consideration in an updated resource estimate, and additional scientific field work and geological structural analysis which will be incorporated into the 43-101 technical report being prepared by Micon International.”
The proceeds from the Private Placement are expected to be used by the Company to complement the acquisition of the Zimapan mine, to accelerate exploration activities at the Horizontes (Lomo del Toro) area and for general working capital and corporate purposes.
McEwen Mining Inc. is pleased to announce two senior management additions: Stephen McGibbon has joined as the Executive Vice President of Exploration; and Ruben Wallin has joined as the Vice President of Environment, Health, Safety & Sustainability.
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