Category: Investor’s Corner

Bradford Cooke, Endeavour CEO, commented, “Our financial performance in Q2, 2018 was tempered by higher depreciation and depletion charges primarily at Guanacevi, higher foreign exchange losses related to depreciation of the Mexican peso, higher current taxes primarily at Bolanitos and El Cubo and increased expenditures advancing Terronera and exploring Parral.”

Mr. Bannantine added, “Our Q2 2018 financial results were also impacted by higher costs at the Guananjuato Mine Complex as we experienced narrower vein widths than our model anticipated. Despite this, we are maintaining our cost guidance for the year, as we expect the trend in Q2 to reverse in the remainder of the year based on our recent drill results and development to date to access these drilled targets. We continue to maintain a strong balance sheet with approximately $60 million of cash and short-term investments and no debt, which is more than sufficient to fund the development of Coricancha. Further, we expect our Mexican operations will continue to provide cash flow to fund the Company’s ongoing requirements.”

“With near record production in the second quarter, we came in slightly ahead of expectations and remain well positioned to achieve full year guidance. This reflected another strong outperformance from Mulatos and Island Gold, with production guidance for both mines increased for the second consecutive quarter,” said John A. McCluskey, President and Chief Executive Officer.

SilverCrest Metals Inc. announces the resignation of Dunham Craig from the Board of Directors of the Company. The Company wishes to sincerely thank Mr. Craig for his tremendous contribution and services as a director and wishes him all the best in his future.

“McEwen Mining is in a growth phase that relies heavily on engineering and execution of projects. In addition to growing organically, we seek opportunities to expand our production and resource base. Chris is an ideal executive to lead our organic growth initiatives, as well as evaluate and execute on acquisitions,” said Rob McEwen, Chairman and Chief Owner.

Centerra Gold Inc. (TSX: CG) today reported net earnings of $43.5 million or $0.15 per common share on revenues of $243.3 million in the second quarter of 2018. The second quarter of 2018 results include a pre-tax gain of $28.0 million on the sale of the Company’s royalty portfolio and $9.4 million on the recognition of the final instalments from the sale of the Altan Tsagaan Ovoo property.

“We generated $28.8 million of cash flow from operating activities in the second quarter, net income from continuing operations of $8.2 million and operational performance ended the second quarter within our guided range,” said Darren Pylot, President and CEO of Capstone. “Moving forward, we expect that various optimization activities underway at Pinto Valley will result in increased productivity and lower costs,” continued Mr. Pylot. “At Cozamin, we are very optimistic that the updated Mineral Resource estimate that we released in the second quarter will pave the way for an extension of operations and creates the potential for a mine expansion.”

VVC Exploration Corporation (TSX-V:VVC) announces a new CA$1.5 million non-brokered equity private placement financing. This placement is for units of the Company at a price of $0.05 per Unit, whereby each Unit consists of one common share and one-half of one common share purchase warrant of the Company. Each full Warrant entitles the holder to purchase one additional common share of the Company for a period of three years, at an exercise price of CA$0.06 per share. The Company has raised to-date about CA$1,150,000 and expects to complete the remaining 350,000 in August.

Gold Resource Corporation (NYSE American: GORO) reported production results for the second quarter ended June 30, 2018 of 5,806 ounces of gold and 593,955 ounces of silver, which along with base metal revenue generated $30.8 million in net revenue and $3.8 million, or $0.07 per share in net income for the quarter.

The parties have been diligently working towards settling all structuring and definitive documentation, including a revised stream arrangement to be entered on closing having the equivalent effect of a net smelter royalty on the area of interest and surrounding areas, in connection with completing the proposed business combination. As previously announced, the proposed business combination will be completed by way of a plan of arrangement under which Golden Reign will acquire all of the issued and outstanding shares of Marlin following completion of a corporate reorganization being undertaken by Marlin. Upon completion of the proposed transactions, it is expected that the current shareholders and option holders of Marlin will own in aggregate approximately 45% of the shares of Golden Reign (after the distribution of the Golden Reign shares already owned by Marlin to certain of its shareholders) and current non-Marlin Golden Reign shareholders will own approximately 55% of the shares.