Category: Investor’s Corner

We are pleased to report another quarter of consistent production from our operations in Mexico. With higher projected production in the fourth quarter, we are on pace to meet our internal annual budgeted production targets, despite the challenges faced in the second quarter. Although our overall output was down slightly this quarter, we are encouraged that the decrease was mainly the result of lower recoveries at the Avino Mine where mining activities took place in a new zone. Moving forward, we expect recoveries to improve as we optimize the plant for material from this new zone. Advancing our underground operations into new areas is fundamental to our goal of expanding both mining and processing operations. Further to this goal, we have commenced exploration drilling in the gap zone between ET and San Luis located within the Avino mine which we expect could significantly add to our current resource block at the Avino Mine.
-David Wolfin, President, CEO & Director, Avino Silver & Gold Mines Ltd.

Baja Mining Corp. announced today that the previously announced consolidation of the Company’s issued and outstanding common shares on the basis of one post-consolidation common share for every twenty pre-consolidation common shares and the change of the Company’s name from “Baja Mining Corp.” to “Camrova Resources Inc.” will be effective on October 17, 2016. The Common Shares will begin trading on a post-consolidated basis and under the new Company name on the TSX Venture Exchange under the trading symbol “CAV” at market open on Monday, October 17, 2016.

Pete Dougherty, President and CEO, stated: “Heavy rainfall during the quarter at El Castillo made it extremely difficult to hit our mining and throughput targets. Also at El Castillo, due to the revision of mine sequencing, we have mined much lower grade oxide and much more sulphide ore than planned in 2016 which will lead to more oxide production in 2017. Now that the rainy season is past us, we are mining the higher grade oxide ore from phase six. We believe that the fourth quarter should improve in terms of ore placements – particularly with the additional crushing capacity.

“Es un honor atestiguar el inicio de los trabajos del club deportivo que representa en su construcción una inversión por el orden de los 14 millones de pesos, y la generación de cientos de fuentes de empleos, y una vez terminado será un agradable lugar de reunión, deporte y esparcimiento familiar”, expresó la presidenta municipal de Caborca, Karina García Gutiérrez.

Alset Energy Corp. announces that it has closed the first tranche of its previously announced re-priced private placement. Gross proceeds from the tranche totaled $207,940 consisting of 256,667 flow-through units for $30,800 and 1,771,400 non flow-through units for $177,140. The Company will keep to financing open until October 21, 2016 to raise up to $1 million on a best efforts basis.

ALIX RESOURCES CORP. is pleased to announce the appointments of Mr. Christopher Ecclestone to its Board and as its new Chief Executive Officer and Ms. Tracy Weslosky to its Board.

“Despite the third quarter being challenged by lower grades, recoveries and two temporary shut-downs, we expect to meet our production guidance for 2016,” stated Robert Archer, President & CEO. “Furthermore, we expect to continue the trend of significant reductions in our cash costs over prior year levels.”

Paul Benson, President and CEO said, “This was a strong quarter with a number of production records. Our three mines delivered impressive operating results and record quarterly gold equivalent production, reflecting the addition of a full quarter gold production from Seabee and record silver production at Pirquitas with another solid quarter from Marigold. Pleasingly, we were able to start our Operational Excellence program at Seabee and saw some immediate results. With Seabee integrated into Silver Standard, our portfolio is showing our strength as a high-quality intermediate producer with scale and margin. We continue to focus on creating shareholder value through operational excellence, exploration for mine life extension and disciplined growth.”

IDM Mining Ltd. announces that the Company has agreed to issue 3,750,000 common shares of the Company at a deemed price of C$0.17 and make a US$50,000 cash payment to a creditor in settlement of certain debts related to the Company’s past operations in Mexico. The debt settlement is subject to approval of the TSX Venture Exchange.

The U.K.-listed business, the world’s largest primary silver producer and Mexico’s second-largest gold producer, reported a 6.7% rise in silver production, including output from the Silverstream contract, to 11.8 million ounces for the three months ended Sept. 30, 2016 compared with the same quarter the year before. This was mainly due to the start-up of the first phase of San Julian plant, increased ore processed at the Saucito mine and an increased contribution from the Silverstream contract.