Net proceeds of the Offering, if any, together with the Company’s current cash resources and free cash flow, will be used to advance its Terronera project and for working capital purposes.
The Offering is expected to close on or about May 20, 2020 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange and the NYSE American.
“We are continuing as planned to mine profitable ounces and focus on strict cost controls. Despite the lower than planned gold and silver grades during this quarter, new exploration has discovered better grades that we expect to reach by drifting in the next quarters,” reported Salvador Garcia, Chief Operating Officer of the company.
Millrock President & CEO commented: “The core drilled in the first two holes of the program demonstrated a Pogo-like system with an abundance of alteration and sulfide mineralization indicating a robust hydrothermal environment.”
“We are pleased to welcome Dale as CEO of Fortune Bay. The Company is well positioned to enhance shareholder value as it advances the Goldfields and Ixhuatán projects.”
“As the COVID-19 pandemic sparked higher than normal volatility in the metals market near the end of the quarter, we temporarily suspended our silver and gold sales as paper prices dropped significantly below true physical prices,” stated Keith Neumeyer, President and CEO of First Majestic. “These inventoried ounces have been carried over into the second quarter and will be sold as prices improve. Nevertheless, strong production from each of our three mines generated operating earnings of $21.1 million, representing a 106% increase over the same quarter of 2019.”
Ruben Padilla, President and CEO of Sable stated, “Given the historically known high-grade Ag-Pb-Zn mineralization, the acquisition of the El Fierro Project reinforces our confidence on the geological potential of the San Juan Province and strengthens our presence as an important player in this region….”
Sonoro Metals Corp., as a result of a review by the British Columbia Securities Commission, the Company is issuing this news release to address issues with its technical disclosure regarding its Cerro Caliche project located in the municipality of Cucurpe, Sonora, Mexico.
All director nominees were re‑elected.
ORLA MINING LTD. is pleased to announce the voting results for the election of its Board of Directors, which took place at the Company’s Annual and Special Meeting of Shareholders held today.
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