GoGold Resources Inc. is pleased to announce the release of financial results for the quarter ending December 31, 2016. GoGold recorded revenue of $6.9 million from the sale of 413,941 silver equivalent ounces with a cash cost per silver equivalent ounce of $6.70, with an operating income of $2.175 million for the quarter (All amounts are in U.S. dollars).
Almadex Minerals Limited is pleased to announce that the Company has increased the size of its previously announced proposed non-brokered private placement financing to up to approximately 2,600,000 units to raise up to approximately $3,500,000 at a price of $1.35 per Unit.
Leagold entered a binding sale and purchase agreement with Goldcorp Inc. dated January 11, 2017 to acquire the Los Filos Gold Mine for $350 million through the purchase of Goldcorps Desarrollos Mineros San Luis S.A. de C.V. subsidiary. The purchase price is made up of $279 million in cash and $71 million in common shares of Leagold. For further details of the Acquisition, see the Companys news release of January 12, 2017.
Alamos Gold Inc. today announced that it has closed its previously announced bought deal offering at a price of US$7.95 per common share. A total of 31,450,000 common shares were sold in the offering for gross proceeds of US$250 million.
Fortuna Silver Mines Inc. is pleased to announce that it has completed its previously announced bought deal financing and has issued 11,873,750 common shares, including 1,548,750 common shares that were issued upon the full exercise of the over-allotment option, at US$6.30 per Offered Share for gross proceeds to the Company of US$74,804,625. The Offering was conducted by a syndicate of underwriters co-led by Raymond James Ltd., BMO Nesbitt Burns Inc. and Scotia Capital Inc., and including CIBC World Markets Inc. and National Bank Financial Inc. The net proceeds from the Offering will be used for general working capital purposes.
ALIX RESOURCES CORP. announces that further to its news releases dated February 3, 2017, January 31, 2017 and January 24, 2017, it has completed the first tranche of a non-brokered flow through private placement of 2,585,000 units at a price of $0.07 per unit for gross proceeds of $180,950. Each FT unit consists of one flow through common share and one half non-flow through Share purchase warrant of the Company. Each whole warrant will entitle the holder to acquire one Share of the Company at a price of $0.10 per Share for a period of 24 months from the date of issuance.
For 2017, planned exploration spending on new resource identification has almost doubled, to $14 – $17 million, compared to 2016. The majority of our exploration budget will be spent at our Palmarejo and Kensington operations and at our La Preciosa silver-gold project in Mexico. Our capitalized exploration budget targeting resource conversion is expected to increase by about 10% to $10 – $13 million, most of which is earmarked for Palmarejo and Kensington. We also plan to increase earlier-stage exploration spending by around 50% to $7 million, as we seek to enhance our pipeline of future, high-quality sources of silver and gold production in attractive jurisdictions,” Mitchell J. Krebs, Coeurs President and Chief Executive Officer.
Leagold Mining Corporation is pleased to announce that it has filed with Canadian securities regulators an independent technical report prepared in accordance with National Instrument 43-101 entitled NI 43-101 Technical Report and Preliminary Economic Assessment, Los Filos Gold Mine, Guerrero State, Mexico. The Technical Report presents a description of the Los Filos Gold Mine operations, including Mineral Resources, Mineral Reserves, and a financial evaluation of the current mine. The Technical Report also presents a Preliminary Economic Assessment based on the Mineral Resources of the Bermejal Underground deposit.
Morgan Poliquin, President of Almaden, states, “this financing tops up our treasury and will allow us to continue aggressively drilling in and around the Amended PEA pit, where we have recently been announcing very encouraging new mineralization, as well as advancing the Ixtaca deposit towards a production decision, through advanced studies and permitting.”
Alta Vista Ventures Ltd. is pleased to report that as a result of the high level of demand for its unmanned geophysics survey services, Pioneer Aerial Surveys, a wholly owned subsidiary of Alta Vista, has accelerated its growth plans by purchasing an additional UAV.
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