Aztec Minerals Corp. Board of directors of the Company has approved the repricing of a total of 200,000 stock options of the Company from $0.25 to $0.12 per common share, and a total of 1,950,000 stock options of the Company from $0.35 to $0.105 per common share.
The Company intends to use the net proceeds of the Offering to fund additional exploration on its Los Ricos project, particularly at the Monte del Favor target on the project, and for corporate development and general corporate purposes.
“We are very pleased with this new set of results, which are consistent with our previous sampling and are likely the expression of a large Au-Cu porphyry-skarn mineralized system”, commented Ruben Padilla, Sable’s VP of Exploration.
Some of our most important investors have been requesting information on this specific which we intend to address professionally. It is very important to mention that to convince a Professional Geologist to write a NI 43-101 Report the company must have a Property of Merit.
Pete Dougherty, President and CEO stated: “During 2019, we increased our consolidated Mineral Reserves by 48%, GEO production by 13% and grew our net cash position by over $26 million.”
Bradford Cooke, Endeavour CEO, commented, “The Company’s financial performance last year was negatively impacted by significant operating issues and higher costs at each of our mines. We made sweeping changes to the mining operations in Q2 and Q3 and as a result, we are finally seeing production rising and costs falling, led by Guanacevi. Endeavour expects higher production and lower costs at each of its three mines in 2020.”
Excellon President & CEO Brendan Cahill stated: “The acquisition of Otis Gold represents an exceptional opportunity to further Excellon’s vision of creating wealth. We believe that we are at the dawn of a new bull market in precious metals. The Kilgore deposit multiplies our resource base and increases our precious metal exposure from approximately fifty percent to over ninety percent.”
The Company proposes to use the funds from the Loan for construction, development and exploration activities in Nicaragua, for general corporate purposes and for fees and expenses incurred in connection with the Loan.
The Company intends to use the net proceeds of the Private Placement to conduct exploration work on its Tombstone CRD silver-gold-lead-zinc-copper project in Arizona, complete the joint venture agreement for the Cervantes Porphyry gold-copper project in Mexico, and for general working capital purposes.
Taj Singh, President and CEO, states: “2019 was a transformative year for Discovery owing to the acquisition of the Cordero project mid-year. We are very pleased that the work we have done post-acquisition in conjunction with a strengthening silver price has translated to strong market performance culminating in being named to the Venture 50.”
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