ALORO MINING CORP. announces that, due to the COVID-19 pandemic and the market conditions, it will not be proceeding with the non-brokered private placement announced on April 6, 2020.
Rob Henderson has been appointed President and CEO effective April 21, 2020.
Newmont Corporation today announced that its Board of Directors declared a quarterly dividend of $0.25 per share of common stock, payable on June 18, 2020, to holders of record at the close of business on June 4, 2020.
The net proceeds of the SSR Mining Placement will be used for continued exploration and development of the Company’s Las Chispas Project and for general working capital and administrative purposes. Following completion of the SSR Mining Placement, SilverCrest will have a cash balance of C$234 million in its treasury.
In conjunction with the Private Placement, we have entered into a transaction with a third party to divest of the 3,597,291 SilverCrest common shares to be acquired pursuant to the Private Placement at a price of C$7.65 per common share for a pre-tax gain of approximately C$0.5 million. Following the disposition, we will continue to own 9,000,645 common shares in SilverCrest.
The Company intends to use the net proceeds for working capital and for other general corporate purposes, including continuing to advance its Rodeo and Velardeña properties in Durango, Mexico.
Mr. Carlos Silva, the Company’s COO stated: “The Company enacted strict safety and personal protection guidelines in late March at all of its mine operations as a response to the Covid-19 pandemic and has closely monitored activities since then. Although no cases of Covid-19 have been documented with respect to staff working at any of our operations, the Company and the Zimapan mine owner, Grupo Peñoles, S.A.B. de C.V., have determined to temporarily halt all mining, milling and exploration activities at the Zimapan mine so as to better protect the Company’s labour force and local communities from this pandemic.”
“Our current focus is on managing the risks around COVID-19 and ensuring we have the necessary measures in place to safeguard our people and our local communities,” said Don Lindsay, President and CEO.
Teck Resources Limited announced today that it will pay an eligible dividend of $0.05 per share on its outstanding Class A common shares and Class B subordinate voting shares…
The Company intends to use the net proceeds of the Offering to continue exploration work on its Kwai property in the Red Lake mining district and for general working capital.
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