Shareholders voted in favour of all items of business including the re-election of each director (Messrs. Bradford Cooke, Patricio Varas, Mark Rebagliati, James Schilling, and Stewart Lockwood) and the ratification of the Companys stock option plan. The number of directors was fixed at five and Smythe LLP were reappointed as auditors.
Endeavour CEO Bradford Cooke commented, Our second quarter production was an improvement over the first quarter thanks to higher tonnes and/or grades from the Bolañitos and El Cubo mines. The Guanaceví mine continued to lag behind plan and another internal review was initiated in order to better understand the new issues and possible resolutions.”
“We made significant gains in the second quarter with record production and lower costs driving the highest combined free cash flow from our operations in years. We expect this trend to continue in the second half of the year with stronger production and lower costs driving strong free cash flow growth from our operations,” said John A. McCluskey, President and Chief Executive Officer.
“We maintained a strong financial position in the second quarter, with 43% lower capital expenditures and solid operating performance from Greens Creek and San Sebastian, with cash costs of $0.26 and under $10 AISC, both after by-product credits per silver ounce, offsetting Lucky Friday which remains idled due to the strike,” said Phillips S. Baker, Jr., President and CEO. “With the significant exploration discoveries at San Sebastian, we are now expecting to extend the life of that project through 2020. Performance of the three mines continues as planned. Higher grade and lower waste tons moved in the second half of 2017 at Casa Berardi should significantly impact production and cost per ounce.”
McEwen Mining Inc. today reported consolidated financial results for the second quarter ending June 30, 2017. Continued investments in exploration and project development, particularly related to the updated PEA on our Los Azules copper project and the advancement of our Gold Bar project towards construction, were the key features of the quarter. As a result, the Company reported a net loss of $1.7 million or $0.01 per share and negative cash flow of $4.1 million or $0.01 per share.
“We are pleased to have achieved another productive quarter with strong financial and operational results. Our focus continues to be our expansion plans at the Avino mine with the addition of Mill Circuit 4, as well as a planned underground drill program at the Bralorne Mine to better define the resources above and below the 800 level. We are confident that the implementation of these important plans will continue to support the Company’s growth efforts. We appreciate the support and dedication of our teams in Mexico and Canada, who continue to maintain efficiencies at our operations.”
GREAT PANTHER SILVER LIMITED announces the appointment of Jim Bannantine as President and CEO, effective August 16. Mr. Bannantine will succeed Robert Archer, who, in April 2017, announced his intention to step down this year. Mr. Archer is a co-founder of the Company and will remain on the Board of Directors.
Prospero Silver Corp. announces that it has, together with its Mexican subsidiary Mineral Fumarola, S. A. de C. V., entered into an option to own agreement with Exploraciones del Altiplano, S.A. de C.V. to earn a 100% right, title and interest in and to Altiplanos Buenavista claims located in Durango, Mexico, subject to the reservation by Altiplano of a 2% net smelter return royalty. The Option Agreement is subject to approval of the TSX Venture Exchange.
Gold Resource Corporation reported production results for the second quarter ended June 30, 2017 of 5,696 ounces of gold and 397,670 ounces of silver, which along with base metal revenue generated $21.4 million in net revenue for the quarter and $0.9 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.
Oceanus Resources Corporation has closed a non-brokered private placement raising $3,000,000 through the issuance of 10,000,000 units at a price of $0.30 per unit. Each Unit consists of one common share and one-half warrant of the Company at $0.30 per Unit. Every two one-half common share purchase warrants of the Company entitles the subscriber to acquire one common share of the Company for $0.40 for a period of eighteen months from the closing date. The Units issued pursuant to this private placement are subject to a 4 month hold period that expires on December 2, 2017.
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