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.
NSX Silver Inc. announces that it has entered into a share purchase agreement with Residence Cameron Ltd. and Dr. Marc Louis Girouard to acquire all of the issued and outstanding shares of Residence Cameron Ltd. Cameron owns multi-unit residential properties totaling 63 units, at 64, 66 and 86 Cameron Street in Moncton, NB. Cameron is a New Brunswick incorporated company whose sole assets are the multi-unit residential properties in New Brunswick.
Red Tiger Mining Inc. announces that it has received the resignation of Mr. Igor Omelchenko from the Companys Board of Directors and Audit Committee. The Board of Directors thanks Mr. Omelchenko for his service and wishes him continued success in his future endeavors.
Further to its news release of August 17, 2016, Starcore International Mines Ltd. reports that October 11, 2016 is the effective date of its registration statement on Form 20-F as filed with the United States Securities & Exchange Commission for the purpose of registering its common shares under section 12(g) of the United States Securities Exchange Act of 1934, as amended. As of the Effective Date, the Company becomes subject to the reporting requirements under Section 13(a) of the Exchange Act.
Endeavour CEO Bradford Cooke commented, “Our consolidated production continued to exceed plan in the third quarter. Although our production forecast is lower in H2 than H1, we are well positioned to meet our recently raised production guidance for 2016. We still have available plant capacity at all three mines and are evaluating various ways to boost mine production in 2017.
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