Category: Investor’s Corner

Fortune Bay Corp. is pleased to announce that it intends to complete a non-brokered private placement for aggregate gross proceeds of up to $2,750,000.

Agnico Eagle Mines Limited is providing an update following the announcement by the Government of Quebec on April 13, 2020 to add mining operations to the list of priority activities and services that are permitted to operate while the Province responds to the COVID-19 pandemic. Pursuant to the Government of Quebec’s announcement, mining activities will be permitted to resume in a gradual and supervised manner beginning on April 15, 2020.

Oroco Resource Corp. announces that it intends to apply to the TSX Venture for approval to amend the term of 1,805,000 outstanding share purchase warrants by extending the Exercise Period by three months from May 3, 2020 to August 3, 2020. The Company has not applied for any change to the exercise price of $0.32 per share.

DynaResource, Inc. and its subsidiary DynaResource de Mexico S.A. de C.V., the 100% owner of the San Jose de Gracia high grade gold project in Sinaloa, Mexico, are pleased to announce that on February 20, 2020, a Mexico City court issued its Final Judgment, effectively foreclosing on all shares of DynaMexico formerly held by Goldgroup Resources, Inc., and awarding those shares to DynaMexico.

“I am delighted with the higher than expected grades that we have achieved during the first quarter at the Avino Mine. As previously indicated in our 2020 plans, full production has been coming from the Avino Mine since early January,” said David Wolfin, President and CEO. “We continue to work with our partners and suppliers to coordinate our remaining shipments and receivables, and we are pleased with their cooperation.

The resumption of mining activity will occur over a period of several weeks with full attention to the health and safety of returning employees, contractors, and suppliers. These precautionary measures comply with the recommendations of the Department of Public Health and CNESST and include enhanced screening of all individuals entering the mine, including temperature checks; mandatory social distancing; enhanced sanitization and disinfecting; and preparedness planning in the event of a suspected or confirmed case of COVID-19.

“During this period, we continue to advance Media Luna, with design and engineering work for the feasibility study ongoing and permitting work continuing. Excavation of the Media Luna tunnel is scheduled to start this summer, with portal design and tunnel plans advancing as scheduled. The infill drill program at Media Luna has also been impacted by the suspension of operations. As a result, the feasibility study could be delayed a quarter, which will not affect the schedule of the Media Luna Project.”

McEwen Mining Inc. reports consolidated production for Q1 2020 was 29,177 gold ounces and 553,179 silver ounces, or 35,062 gold equivalent ounces at the average gold:silver price ratio for the quarter of 94:1.

The Company produced 1.8 million ounces of silver and 10,101 ounces of gold, plus base metal by-products. Government-mandated constraints on business to curb the spread of COVID-19 in the countries that host our operations, have resulted in reduced production at the Caylloma Mine during the first quarter of 2020, and subsequent to the end of the quarter, have resulted in the suspension of operations at the San Jose Mine.

Silver One’s President and CEO Greg Crowe commented, “Silver One has reduced the current dilution to shareholders from having to issue close to 4 million shares of SVE (as per its 2017 Option Agreement with SSR Mining) to issuing just over 850,000 units of SVE. Additionally, Silver One has pushed back the commitment to pay Maverix US$1.0 million (50% in cash and 50% in SVE shares) to the first anniversary of commercial production at Candelaria in comparison to the original agreement that required payment immediately upon commercial production. Silver One’s management feels this agreement is in the best interest of our shareholders.”