Premier Gold Mines Limited is pleased to provide 2019 production guidance for the Mercedes Mine as well as pre-commercial production guidance for the South Arturo Mine.
“2018 was a year of significant strategic advancement for Great Panther against the backdrop of a challenging metal price environment,” stated James Bannantine, President and CEO. “Significantly lower silver prices and higher costs driven by geology at our Guanajuato Mine in the third quarter reduced mine operating earnings year-over-year. Furthermore, we continued to fully expense the advancement of our Coricancha project in Peru. These factors were the primary contributors to our loss this year. With regard to our costs in Mexico, we took quick action to implement cost reduction and restructuring measures and started to realize cost reductions in the fourth quarter. We also invested significantly in corporate development, which culminated in a transformational deal to acquire Beadell Resources Limited that will formally close in early March. As a result of these initiatives, 2019 will represent a historic year of change for Great Panther that will see the Company become a growth-oriented intermediate precious metals producer in Latin America.”
The Companys strong financial position has provided us the opportunity to grow our future production through the advancement of our portfolio stated Ewan Downie, President & CEO. With two new mines under construction at South Arturo, and permitting underway at Cove and Hardrock, we expect to see significant increases in our future production profile.
We are excited to work with InProved to access institutional investors and Asian investor markets, with the intent of completing a non-dilutive financing for the construction of a pilot gold operation at our Cerro Caliche project, said Kenneth MacLeod, President and CEO of Sonoro. Our goal is to mitigate shareholder dilution by using revenues from the proposed operation to fund future exploration and development at our Cerro Caliche and San Marcial properties.
Gold Resource Corporation announced today that it will hold its annual meeting of shareholders at 8:00 a.m. Mountain Time on Thursday, June 20, 2019 at Embassy Suites located at 10250 East Costilla Avenue, Centennial, CO 80112. Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, U.S.A. The Company has returned $111 million to its shareholders in monthly dividends since commercial production commenced July 1, 2010 and offers its shareholders the option to convert their cash dividends into physical gold and silver and take delivery.
Golden Minerals Company has today announced financial results and a business summary for the full year ending December 31, 2018.
One World Lithium Inc. announces that it will be amending the terms of 100,000 share purchase warrants previously issued pursuant to a Credit Facility that closed on February 28, 2017. The Warrants were originally exercisable by the holder at a price of $0.20 per common share in the capital of the Company for a period of two years from the date of issuance. The expiry date of these Warrants will be extended by twenty-four months. Following the extension of the term of the Warrants, each Warrant will entitle the holder thereof to acquire one Share at an issue price of $0.20 per Share on or before February 28, 2020. All other terms and conditions of the Warrants will remain the same.
Despite the challenges faced in 2018, our overall silver equivalent production increased in both the fourth quarter and for the full year. Operationally, 2018 was a year in which we successfully achieved our goal of completing Mill Circuit 4 and several drill programs on numerous areas of the Avino property, which successfully outlined longer term targets that warrant further investigation and drilling. stated David Wolfin, President and CEO.
Magna Gold Corp. is pleased to announce that further to its news released dated February 11, 2019, it has completed the first tranche of a non-brokered private placement of common shares at a price of CAD$0.32 per Common Share comprising the concurrent financing to the Corporations previously announced proposed qualifying transaction. The first tranche of the Concurrent Financing consisted of the sale of 7,758,184 Common Shares for gross proceeds of $2,482,619.
The Company will use the proceeds of the financing to fund a focused drill program at the Cecilia Gold Project, additional project acquisitions and further target refinement on existing projects to advance towards new partnerships. The Company may pay finders fees in cash or Units to qualified finders of up to 8.0% of the aggregate gross proceeds realized from subscribers identified by the finder. The closing of the private placement is subject to TSX-V approval.
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