Category: Investor’s Corner

Igor Gonzales, President and CEO of Sierra Metals, commented: “The Company ended 2017 with sound production due to a very strong performance at Yauricocha, where we continue to reap the benefits of a successful operational improvements program resulting in higher tonnages, in addition to higher-grade material discovered through our successful brownfield exploration programs.”

Orla Mining Ltd. announces that it has completed its previously-announced shares for debt settlement after being granted approval of the transaction by the TSX Venture Exchange. An aggregate of $206,783 in debt was extinguished through the issuance of an aggregate of 147,702 common shares of the Company at an issue price of $1.40 per common share. The issued common shares are subject to a four month hold period ending on May 18, 2018.

Torex Gold Resources Inc. announces that it has filed a preliminary short form base shelf prospectus with the Securities Commissions in each of the provinces and territories of Canada, except Québec. The base shelf prospectus will allow Torex to make offerings of up to $500 million of common shares, debt securities, subscription receipts, warrants and units or any combination thereof. When final, the base shelf prospectus will be effective for a 25 month period. The specific terms of any offering of Securities, including the use of proceeds from any offering, will be set forth in a shelf prospectus supplement. The Company has filed this base shelf prospectus to maintain financial flexibility but has no immediate intentions to undertake an offering.

Fortuna Silver Mines, Inc. is pleased to announce 2017 production figures from its two underground operating silver mines, the San Jose Mine in Mexico and the Caylloma Mine in Peru. The company produced 8.5 million ounces of silver and 56.4 thousand ounces of gold or 11.9 million AgEq ounces.

Cerro San Pedro finished active mining and transitioned to residual leaching late in the second quarter of 2016. As a result, and consistent with expectations, the mine’s fourth quarter and full-year 2017 gold and silver production decreased compared to the prior year. 2017 full-year gold production was slightly below the guidance range of 35,000 to 45,000 ounces.

Keith Neumeyer, President & CEO, stated, “Santa Elena and San Martin were the star performers in 2017. In 2018, we expect higher grades, throughputs and recoveries to improve the operations at La Encantada, La Parrilla, La Guitarra and Del Toro due to the concerted investments in exploration and development that commenced in late 2016. In addition, the acquisition of the San Dimas mine comes at a great time with all our other operations benefiting simultaneously from increased investments. As a result, the business will benefit from improved operating margins, increased cash flows and greater economies of scale into the coming quarters.”

Pete Dougherty, President & CEO stated: “Production of 126,704 GEOs falls within our stated 2017 guidance of between 122,000 and 130,000 GEOs. At La Colorada we exceeded our expectation of between 47,000 and 50,000 GEOs with production of 53,286 GEOs. At San Agustin, we experienced a slower than expected ramp up in the mine and slower than anticipated flow rate to the leach pad. These issues have since been resolved and mining and flow rates are now meeting plan…”

“Since we restructured our business during the first half of 2016 to drive a culture of accountability and sound operating principles, we have delivered consistent, predictable and low-cost gold production,” said David Garofalo, President and Chief Executive Officer of Goldcorp. “We are well underway to deliver on our 5-year plan of growing gold production and gold reserves by 20% and reducing AISC by 20% by 2021. With the most robust growth pipeline among global senior gold companies, we are making an initial investment of $100 million in our long-term portfolio ‘Beyond 20/20’. Together with an enhanced exploration budget of $125 million, the objective of Beyond 20/20 is to maximize the net asset value of our existingmines and projects by continuing to grow low-cost gold production from our growing gold reserves.”

Consolidated Zinc Limited announces that it has received a notice from each of the directors of the Company, other than Mr Luis Rogelio Martinez Valles, of their intention to move a resolution to remove Mr Luis Rogelio Martinez Valles as a director of the Company at the next general meeting of the Company.

McEwen Mining Inc. reports annual consolidated production in 2017 was 109,947 gold ounces and 3,178,742 silver ounces, or 152,329 gold equivalent ounces, at a gold to silver ratio of 75:1.