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.”
Starcore International Mines Ltd. reports the results of its annual general meeting of shareholders held on October 24, 2017.
“With the initial gold reserve estimate at Century completed, we are now more than one third of the way toward reaching our target of 60 million ounces of gold reserves by 2021. The continued exploration success at Coffee and Cerro Negro is a direct result of our new, systematic approach to exploration and is expected to contribute toward that goal,” said Paul Harbidge, Senior Vice-President Exploration. “Our exploration strategy for the coming year will continue to focus on brownfield targets at or near our existing camps where we have demonstrated a high rate of success. We are excited by the exploration potential of our newly acquired Cerro Casale/Caspiche Project where, in addition to the two main deposits, there are numerous satellite and early stage targets for evaluation.”
“We have delivered another quarter of on target gold production at low costs, led by strong operating performance at Peñasquito and Cerro Negro. The success of our efficiency program is evident in continued low operating costs and an expanded margin per ounce of gold produced,” said David Garofalo, President & Chief Executive Officer. “With the optimization of our portfolio now complete, we have a full and robust pipeline of development projects poised to deliver value growth in the short, medium and long-term.”
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