Category: Investor’s Corner

Tawn Albinson, the President of Prospero commented: “With today’s closing, we now have the funding to drill test 3 key projects in our portfolio — Matorral, Petate, and Pachuca SE- and we’ll be advancing the projects as promptly as possible. In anticipation of this deal closing, we have expedited permitting work on four projects. We will begin drilling at Matorral first, and we hope to award the drill contract in the next few weeks. I’d like to thank our new strategic partner, Fortuna Silver, for backing us and I’m looking forward to working with their exploration team in the coming 18 months.”

Operations at the San Dimas mine in Mexico resumed on April 18, 2017, after Primero Mining Corp. resolved the work stoppage of unionized employees that began on February 15, 2017. Primero announced that it has a new Collective Bargaining Agreement that provides a formal structure for regulating all aspects of the relationship between Primero and its unionized employees.

Alset Minerals Corp. is pleased to announce it has filed documents with the TSX Venture Exchange seeking final approval on their previously announced non-brokered private placement for gross proceeds of $369,000. Subject to regulatory approval Alset will be issuing 2,838,846 units, with each Unit consisting of 1 common share of the Company and 1 share purchase warrant, each warrant being exercisable for an additional common share of the company at a price of $0.20 for 12 months from closing, subject to the right of the company, after the 4 month hold period has expired, to accelerate the exercise period of the warrants should the closing price of shares of the Company be at or above $0.30 for a period of 10 consecutive trading days. Proceeds of this financing will be used to fund exploration of the Company’s salars in Mexico and for general working capital purposes. Directors and officers of the Company participated for approximately $100,000 of the financing with $52,000 from Alset’s Chairman.

“Pan American continued to deliver strong results in the first quarter of 2017, with quarter-over-quarter growth in net earnings and cash costs down 23% to $6.18 per ounce,” said Michael Steinmann, President and Chief Executive Officer of the Company. “The expansion of our Dolores mine is tracking well with commissioning of the pulp agglomeration plant expected by mid-year. At our La Colorada mine, we are already realizing the benefit of higher throughput rates from the expansion, which is now substantially complete.”

The Company reported revenue of approximately $1.6 million in the first quarter 2017 related to the oxide plant lease and costs of approximately $0.5 million related to the services we provide under the lease, for a net margin of $1.1 million. Exploration expense of $0.5 million during the first quarter was related primarily to work at the Santa Maria and Rodeo properties as well as holding costs and allocated administrative expenses. Golden reported a net loss of $1.1 million in the first quarter 2017 compared to a net loss of $6.3 million in the year ago period. The year ago figure included, as noted above, non-cash losses of $1.8 million related to the Company’s warrants and convertible note, plus a non-cash loss on debt extinguishment of $1.7 million relating to a $5.0 million convertible loan.

Red Tiger Mining Inc. announces that it has received Failure-to-File Cease Trade Orders from the Ontario Securities Commission. The Cease Trade Orders were issued as a result of the Company’s failure to file its annual audited financial statements, annual management’s discussion and analysis and certification of its annual filings for the year ended December 31, 2016.

Morro Bay Resources Ltd. announces that the Morro Bay Board of Directors has elected to proceed with the consolidation of the Company’s common shares on the basis of ten pre-consolidation shares for one post-consolidation share. The Consolidation will take effect on May 9, 2017, under a new CUSIP Number. There will be no name change or trading symbol change in conjunction with the Consolidation.

Silver Standard Resources Inc. announces that each of the seven nominees listed in the management proxy circular for the 2017 Annual and Special Meeting of Shareholders were elected as directors of Silver Standard at the AGM held in Vancouver on Thursday, May 4, 2017. Detailed results of the vote for the election of directors are set out below:

Almaden Minerals Ltd. is pleased to announce that it has entered into an agreement with Sprott Capital Partners and Cormark Securities Inc. to act as co-lead underwriters, on their own behalf and, if applicable, on behalf of a syndicate of underwriters, pursuant to which the Underwriters will arrange for substituted purchasers to purchase, on a bought deal private placement basis, 8,572,000 units at $1.75 per Unit to raise gross proceeds of $15,001,000. The Underwriters will also have the option to purchase from Almaden up to an additional 1,285,800 Units for additional gross proceeds of $2,250,150.

MX Gold Corp. is pleased to announce that, further to its news release dated May 3, 2017, it closed a private placement and raised gross proceeds of $1,950,000 on May 5, 2017. On the closing date, the Company issued 15,000,000 units at a price of $0.13 per unit, each unit consisting of one common share and one share purchase warrant, which entitles the holder to purchase one additional common share at a price of $0.20 for a period of three years.