Category: Investor’s Corner

“In the third quarter, we delivered higher production levels resulting in an increase in revenues and operating earnings compared to the prior quarter,” stated Keith Neumeyer, President and CEO of First Majestic. “In addition, we successfully renegotiated our smelting and refining terms which reflected in a significant 42% savings in treatment costs in the quarter. However, lower lead production at Del Toro and La Parrilla reduced by-product credits, and along with a stronger Mexican Peso, resulted in a slightly higher AISC. We remain focused on developing our key growth projects, most importantly our roaster project, which is expected to significantly increase production levels at La Encantada beginning in the second quarter of 2018.”

“The third quarter marked a turning point for La Platosa as we resumed generating cash flow and slashed all-in sustaining costs and mining cost per tonne,” stated Brendan Cahill, President and Chief Executive Officer. “We began amortizing the costs of the Optimization Plan completed in the second quarter resulting in increased depreciation expense, which has no impact on cash flow, but would otherwise have generated an adjusted net profit. With AISC below $12 at mining rates of 200 tonnes per day, we look forward to further improving results as we increase tonnage going into 2018. With our recently announced financing closing next week, we will also have a greatly improved balance sheet to pursue our exploration plans at Platosa and Miguel Auza.”

Endeavour CEO Bradford Cooke commented, “Our Third Quarter earnings, cash flow and revenues were down from Q3, 2016 but improved significantly compared to the Q2, 2017. Given that Guanacevi had to deal with new electrical and pump issues due to a lightning strike in July, now partly resolved, we anticipate continued improvement of our operating and financial performance in the Fourth Quarter 2017. Returning Guanaceví to long-term profitability relies in part on developing two new orebodies, Milache and Santa Cruz Sur. Underground ramp access is already underway towards Milache with initial production expected in the second half of 2018. Mine development at Santa Cruz Sur is scheduled to commence this quarter with initial production to coincide with production from Milache. Development of the El Compas mine and refurbishment of the La Plata plant are now well underway, with initial production scheduled to commence by the end of the First Quarter, 2018. We also received the mine and plant permits for Terronera and continue to conduct engineering trade-off studies while we await receipt of the dumps and tailings permits.

“Alamos achieved several milestones in the third quarter including record gold production and our lowest costs and best financial performance in years. This was driven by a breakout quarter from Young-Davidson, which set several new records. We expect this strong performance to continue into the fourth quarter and remain on track to achieve full year production and cost guidance,” said John A. McCluskey, President and Chief Executive Officer.

ARANZ Geo announced today that the company is changing its name to Seequent. The name change and rebrand reflects the company’s expansion into a broader range of global industries and markets. Seequent leads the world in visualisation of complex scientific data. It first introduced its Leapfrog® 3D geological modelling software to the mining and minerals industry over 10 years ago. The company has since developed solutions for a wide range of industries including geothermal and renewable energy, civil engineering, and environmental management.

Palamina Corp. today announced the nomination of Alistair Waddell to the board of directors and appointed Donald Mc Iver and Yury Valdivieso to senior management positions. Donald McIver joins Palamina as its new V.P. of Exploration and Yury Valdivieso as Exploration Manager for Peru.

San Marco Resources Inc. announces that it has completed its private placement financing announced September 29th, 2017. A total of 8,444,444 units were issued at $0.18 per Unit for gross proceeds of $1,519,920, a greater than 20% increase over the original financing target of $1,260,000. Insiders of the Company acquired 1,190,000 (over 14%) of the Units issued in this financing.

The recent shining on lithium has put other battery technologies – such as zinc – in the shadows, even though they have been around for generations. When it comes to disposable batteries, carbon zinc has undoubtedly proven its value, though the technology for a time was less successful when applied to rechargeable batteries. Recharging causes the formation of sharp-edged zinc dendrites that pierce the separation between anode and cathode and cause the battery to short-circuit. However, a team at the Naval Research Laboratory in Washington, D.C., has found a way to avoid dendrite buildup by making the anodes with a sponge-like structure, and zinc carbon is set to enjoy a renaissance.

Endeavour Silver Corp. announced today the appointment of Galina Meleger as Director of Investor Relations. Ms. Meleger has over 10 years’ diverse experience in investor relations and corporate communications for publicly traded companies in the resource sector. Galina will be working with the senior management team to elevate the visibility of Endeavour Silver in the capital markets in order to maximize shareholder value.

Gold Resource Corporation reported production results for the third quarter ended September 30, 2017 of 6,465 ounces of gold and 392,153 ounces of silver, which along with base metal revenue generated $31.1 million in net revenue and $4.6 million in net income for the quarter. 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 $110 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.