Alien Metals Ltd, the AIM quoted exploration and development company, is pleased to announce that it has raised £300,000, before expenses, through the placing of 200 million Common shares or no par value at a price of 0.15 pence each through its broker First Equity Limited. The proceeds of the Placing will be used for further exploration work at Donovan 2 as detailed below and general working capital purposes.
Orla intends to use the proceeds from this program to complete the feasibility study on the Camino Rojo Oxide Project, continue regional exploration efforts and to allow flexibility on the timing of ordering certain long-lead items once a construction decision has been determined for the Camino Rojo Oxide Project. The Incentive Program is intended to provide a cost-effective source of financing for Orla.
Igor Gonzales, President, and CEO of Sierra Metals stated: The first quarter has presented us with several challenges including an illegal strike at Yauricocha, as well as slower than expected ramp up of throughput at Bolivar and Cusi with lower head grades and recoveries. I want to assure shareholders that management remains focused on the expansions in Mexico and improving tonnage, head grades, and recovery rates which in turn will help to lower costs. Also, as noted above, it still bears mentioning that in Q1 2019 Yauricocha saw an increase in zinc equivalent metal production, Cusi had record throughput and Bolivar had a 1% increase in throughput over Q1 2018. Subsequent to Q1 2019, throughput rates continue to improve.”
The San Rafael mine had a record quarter due to improved recovery, higher mill throughput, and increased grades, with substantial increases in silver and by-product production, said Darren Blasutti, President & CEO of Americas Silver. Earnings are expected to improve in the second half of the year with the remaining costs for the Pershing acquisition and Sandstorm financing to be captured in the second quarter. Development of Relief Canyon is beginning as expected with construction activities ramping up on schedule.
SSR Mining Inc. announces that each of the nine nominees listed in the management proxy circular for the 2019 Annual and Special Meeting of Shareholders were elected as directors of SSR Mining on Thursday, May 9, 2019.
Vangold Mining Corp announces that, further to its news release of March 28, 2019, the Company has closed the second tranche of the private placement announced on March 13, 2019 for gross proceeds of $247,975.00, consisting of 4,959,500 units at a price of $0.05 per unit as detailed below. A finder’s fee of $14,248 cash and 284,950 warrants was paid.
Goldplay Exploration Ltd. is pleased to announce the appointment of two highly regarded mining executives, Jonathan Rubenstein and Derek White, to the Company’s Advisory Board. The Company’s Advisory Board was created to bring in members with experience in business development, equity markets and the natural resource sector to advise the Company’s management and Board of Directors.
It has been a landmark start to the year for MAG commented George Paspalas, President and CEO. The joint formal approval of the Juanicipio project is the culmination of what we as partners with Fresnillo have been working for some time now, and provides surety for our shareholders about our pathway to becoming a producer. I continue to emphasize however, that the exploration potential of the joint venture property remains very prospective, and the discovery of the NE oriented Venadas vein is the start of what we believe to be the next exciting opportunity to be unlocked at this remarkable property.
Sable Resources is pleased to announce that the TSX Venture Exchange has accepted for filing documentation pertaining an agreement dated May 30th 2017, between Sable Resources Ltd. and Minas Guilloyna/Cia Minera la Perla, whereby the company can earn 100% right, title and interest in the Margarita Project located in Chihuahua State, Mexico.
Defiance Silver Corp. is pleased to announce that Chris Wright has joined Defiance as a Director and Executive Chairman of the Board.
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