Category: Investor’s Corner

Santacruz Silver Mining Ltd. announces, further to its news release of August 8, 2017, that it has settled the outstanding balance owing on certain of the claims included in the Gavilanes Project by making a cash payment of US$500,000 and issuing 1,250,000 common shares of Santacruz, plus applicable value added taxes, to the property vendor. The shares are subject to a hold period and may not be traded until December 11, 2017 except as permitted by applicable securities legislation and the rules and policies of the TSX Venture Exchange.

“Pan American operations generated strong earnings in the quarter on revenues that topped $200 million. Silver production is on pace to achieve our annual targeted range, while costs are tracking well below. We have now reduced our estimate for cash costs and AISCSOS in 2017 by 14% and 10%, respectively, from the mid-point of our original guidance,” said Michael Steinmann, President and Chief Executive Officer of the Company. “The longer term outlook for operations is also encouraging with excellent progress on our mine expansions in Mexico and our two new projects in Argentina. Throughput at La Colorada achieved design rates of 1,800 tonnes per day in June, six months ahead of plan. At Dolores, commissioning of the new pulp agglomeration plant has begun and the underground mine has been delivering low-grade development muck to the heap. As we saw during Q2 with La Colorada, these expansions improve our operating margins through growth in low-cost production.”

Colibri now owns 100% of the right, title and interest in Minera Bestep S.A. de C.V., a private Mexican company. Bestep holds 100% of the right, title and interest in the Pilar Gold Project and the Sun Project. Both properties are located near Suaqui Grande, Sonora, Mexico and neither property is subject to any royalties or encumbrances. The Pilar Property is 105 hectares in size and the Sun Property is 110 hectares in size. A report on the Pilar Gold Project prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects has been prepared by Jamie Lavigne M.Sc., P.Geo, a Qualified Person under NI 43-101 and independent of the Pilar Gold Project. The Sun Project has been subject to preliminary exploration work. The NI 43-101 Report is available on SEDAR.

“The Company had a strong second quarter, generating net income and strong operating cash flow from our operations despite low silver prices,” said Americas Silver Corporation President and CEO Darren Blasutti. “We expect Nuestra Senora to continue producing until the end of the third quarter while San Rafael transitions from a development project into a producing mine in the fourth quarter. Fiscal 2018 is shaping up to be the most exciting year in the Company’s history as San Rafael commences commercial production.”

Ewan Downie, President and CEO stated, “We continue to realize strong production performance and record earnings since the beginning of our mining operations. The resulting cash flow allows us to aggressively pursue multiple development opportunities within the Company’s portfolio of advanced projects without additional financing”.

Golden Minerals Company today announced financial results for the second quarter ended June 30, 2017 and provided a 12-month financial outlook.

Avino Silver & Gold Mines Ltd. announces it has entered into a sales agreement dated August 4, 2017 with Cantor Fitzgerald & Co., pursuant to which Avino may distribute common shares from time to time through the Agent, as agent or as principal, for the distribution of the Offered Shares in the United States up to the aggregate sales amount of US$25 million in accordance with the terms of the Sales Agreement. The Offering is being made in the United States under the terms of a registration statement on Form F-10 (SEC File No. 333-214396) filed and effective with the United States Securities and Exchange Commission and a prospectus supplement dated August 4, 2017 filed in each Province of Canada, except Quebec, to the base shelf prospectus dated November 10, 2016.

Silver Bull Resources, Inc. is pleased to announce that it has completed the second and final tranche of its previously announced private placement. Under the second tranche of the Private Placement, Silver Bull issued 3,125,000 units of the Company at a price of CDN$0.08 per Unit for aggregate gross proceeds of CDN$250,000. Each Unit consisted of one common share in the capital of the Company and one Common Share purchase warrant. Each Warrant entitles the holder thereof to acquire one Common Share at a price of CDN$0.13 until the second anniversary of the closing of the Private Placement.

“Our second quarter results were unfortunately burdened by a number of labour issues which have since been resolved,” stated Keith Neumeyer, President and CEO of First Majestic. “While weaker revenues and cash flows were realized as a result of these work stoppages and a strengthening Mexican Peso, our treasury remained relatively unchanged at a very healthy $126.9 million. Due to this unexpected weakness in cash flows, as a conservative measure, management has decided to reduce capital expenditures by $17.5 million for the year. Our focus in the second half of 2017 remains to be the construction of the new roaster system at our La Encantada mine which is on schedule for commissioning in the first quarter of 2018 as well as the renewed investments in underground development which has been lacking over the past few years. This increase in underground development, which started in mid-2016, will have a direct impact on improving production, however, the positive impacts of these types of investments are generally delayed by 12 to 24 months.”

Westminster Resources Ltd. is pleased to announce that it has received Conditional Approval from the TSX Venture Exchange for its non-brokered private placement previously announced on July 19, 2017 and is pleased to announce a first tranche closing of its non-brokered private placement. The First Tranche closing consisted of the issuance of a total of 3,820,000 Units at a price of $0.20 per unit for gross proceeds of $764,000.