Silver Spruce Resources Inc.announces that it has closed its current non-brokered private placement and raised gross proceeds of $132,500.00. The offering will consist of the issuance of 2,650,000 shares and 2,650,000 warrants.
“The Cosalá team has done an effective job at managing the development and operations of three different mines and a successful drill program during 2017,” said Americas Silver President and CEO Darren Blasutti. “We expect this strong performance to continue through to the end of 2017 and into 2018 with San Rafael coming into production on time and on budget in the next couple of weeks. We made a prudent decision to process El Cajón ore in the third quarter that increased costs in order to free up working capital that otherwise would have been inaccessible for years.”
Proceeds from the financing will be used primarily to further advance the Company’s 100%-owned E&L Nickel Mountain Project and to unlock the value of the Company’s 100%-owned gold and silver properties in Mexico.
Consolidated Zinc Chairman Mr Stephen Copulos said We would like to thank Mr Dix for his contribution to the Company over the last 3 years especially in building a resource base of almost 1 million tonnes at 16% zinc plus lead from which the Company has successfully completed a positive Scoping Study. From this we will be able to transition to a developer and producer.
Las ventas consolidadas durante el 3T17 fueron US$2,535 millones, 21% mayores al 3T16. En la División Minera, el precio del cobre aumentó +34%, zinc +32% y molibdeno +17% por lo que las ventas aumentaron 18%. En la División Transporte el volumen aumentó 17% comparado al 3T16 debido a la adquisición de Florida East Coast Railway y mayores volúmenes en las operaciones en México. En Infraestructura las ventas disminuyeron 5% a US$136 millones por suspensiones temporales de ciertos contratos de nuestras plataformas y reducción de tarifas por Pemex.
“The third quarter was a very successful and eventful quarter for Great Panther. Our Mexican operations delivered production in support of our guidance for the year and continued to advance the permitting of the new tailings facility at Topia,” stated Jim Bannantine, President & CEO. “After closing the acquisition of Coricancha just before the start of the third quarter, we quickly turned our attention to advancing a resource update and on engineering and environmental studies, and other evaluations in support of a decision to restart mine development. I am pleased that we continue to maintain a strong balance sheet with $55 million of cash and deposits, no debt and strong liquidity of our shares. These factors along with a solid management team put us in a good position to pursue acquisitions.”
Starcore International Mines Ltd. reports changes to its senior management at the Altiplano gold and silver processing plant in Matehuala, Mexico. The action to remove and replace senior management and sales personnel from the Altiplano operations was precipitated by a prolonged period of poor performance at the Plant. The action taken was necessary to stem the flow of negative results at a facility that has every reason to be successful, said Robert Eadie, Starcores President & CEO.
Just as global miners recover from an extended downturn and anemic metal prices, the industry faces a fresh challenge: higher costs.
En México la producción minera de plata durante 2016 fue de 173.9 millones de onzas, volumen 9.2% inferior al reportado en 2015, reveló la Cámara Minera de México (Camimex) aclarando que Fresnillo plc es el principal productor nacional, le siguen Goldcorp e Industrias Peñoles.
“In the third quarter of 2017 we generated $41 million of operating cash flow,” said Darren Pylot, President and CEO of Capstone. “Subsequent to quarter end, we continued our debt reduction program and repaid $14 million, bringing our total debt reduction for the year to over $40 million.”
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