“I am pleased to announce the results of this successful fundraising which will allow Bacanora to meet its capital commitments for the development of our flagship Sonora Lithium project in Mexico and commence our transition from exploration company to lithium producer by 2023.”
Mammoth Resources Corp. is pleased to announce results of voting at its virtual annual and special meeting of shareholders which was held earlier today via Zoom conference facility.
N. Eric Fier, CPG, P.Eng and CEO commented: “We are thrilled to have completed a robust Feasibility Study within five years of drilling the first hole at Las Chispas. The Feasibility Study confirms what we have believed for a while, that Las Chispas is economic as a stand-alone operation. It is important to note that the Feasibility Study is just a snapshot in time. We are already working hard to increase our high-grade reserves while simultaneously constructing the mine and process plant.”
Richard C. Adkerson, Chairman of the Board and Chief Executive Officer, said, “On behalf of the Board of Directors and our management team, we express our appreciation to Jerry for his leadership, counsel and service over many years. His business acumen and counsel have been invaluable. Our entire Freeport organization is appreciative of Jerry’s contributions to our success.”
In Mexico, we have recently announced the Feasibility Study for the Fenix gold-silver project, which at $1,800/oz gold and $25/oz silver generates a 51% After-Tax IRR, $90.8 million NPV@8% and a 2.9 years payback, with average annual production of 26,000 oz gold in Phase 1 and 4,200,000 oz silver equivalent in Phase 2.
First Majestic declined to comment on the size of the government’s claim, saying the company would not “be drawn into a debate” in public on matters it argues should be private.
Dan O’Flaherty, CEO of Maverix, commented “Maverix had another successful year capped off by the acquisition of a portfolio of 10 gold royalties from Newmont in the fourth quarter. The portfolio has already delivered increased value through the positive updates at the Camino Rojo and Cerro Blanco gold projects.”
“Our priority during 2020 was to ensure the health and safety of our employees and stakeholders during the unprecedented COVID-19 pandemic,” commented Carlos Silva, CEO. “Despite country wide closures early in the year, we achieved a safe return to full production by June 2020 and reached record levels by year end, which is a significant accomplishment for our team on the ground. Additionally, production from Veta Grande has been completely replaced by production from the Zimapan Mine.”
The Company is also pleased to announce that it has hired Mine Development Associates, a division of RESPEC, out of Reno, Nevada, to prepare an updated mineral resource estimate for its wholly owned Gavilanes silver property located in Durango, Mexico.
“With funds in place, the team is actively securing our drilling permits for Mexico and we are excited to get underway. As part of this process, the company has employed Jose Luis Posadas, a highly experienced Zacatecas-based exploration geologist, on a fulltime basis.”
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