Category: Investor’s Corner

“During the first quarter, our mines generated positive operating cash flow through the reduction of operating costs, thereby delivering on expectations for lower cash and all-in sustaining costs while still progressing our development projects,” said Americas Silver Corporation President and CEO Darren Blasutti. “Management will continue to focus on this for the remainder of the year in addition to advancing discussions with potential funding partners for the San Rafael project at our Cosalá Operations.”

MAG Silver Corp. announces the Company’s unaudited financial results for the three months ended March 31, 2016. For details of the unaudited Financial Statements and Management’s Discussion and Analysis, for the three months ended March 31, 2016, please see the Company’s filings on SEDAR (www.sedar.com) or on EDGAR (www.sec.gov).

“Evrim’s plans for 2016 include adding new properties to our portfolio and increasing our exploration partnerships,” commented Paddy Nicol, President and CEO of Evrim. “Charles brings the knowledge and experience necessary to achieve our goals and add significant value for Evrim’s shareholders. We very much look forward to having Charles as part of the team.”

Silver Bull Resources, Inc. is pleased to announce its intention to complete a non-brokered private placement of up to 10,000,000 units of the Company at a price of US$0.10 or CDN$0.13 per Unit. Each Unit will consist of one common share in the capital of the Company and one Common Share purchase warrant. Each Warrant shall entitle the holder thereof to acquire one common share at a price of US$0.12 for the US$ Units and CDN$0.16 for the CDN$ Units until the date that is 12 months following closing of the Private Placement. If the closing price of the common shares of the Company on the OTCQB Venture Marketplace is US$0.18 or higher for five consecutive trading days, then the Warrant will expire thirty trading days from such fifth consecutive day.

Michael Steinmann, President and Chief Executive Officer of the Company commented on the first quarter 2016 results, “We are off to a very good start in 2016, delivering robust production and a respectable financial performance. We produced more silver, gold and base metals as compared to the same quarter of last year, significantly reduced our costs, generated adjusted earnings of $0.02 per share and cash flow from operations of $28.4 million (before changes in working capital). These results were achieved in spite of lower prices on our silver and gold sales than in Q1 2015, which trimmed our revenue by nearly $20 million.” Steinmann continued, “Our two expansion projects at La Colorada and Dolores are advancing on schedule and on budget, funded completely by our strong balance sheet, as we progress steadily towards becoming an even lower cost producer”.

Paul Benson, President and CEO said, “We have had an excellent start to the year with 84,000 gold equivalent ounces produced at cash costs and AISC of $715/oz and $859/oz, respectively. We are well-positioned to continue with strong production in Q2 and the devaluation of the peso has allowed us to reduce our cash cost guidance at Pirquitas. Our robust operating performance has also allowed us to continue to add cash to the balance sheet despite investing in exploration and projects for the future.

Millrock Resources Inc. reports that a portion of the non-brokered private placement announced on May 4, 2016 has closed and a total of 1,730,000 Units at a price of $0.29 per Unit have been issued for gross proceeds of $501,700. Each Unit consists of one common share and one share purchase warrant, with each Warrant entitling the holder thereof to purchase one additional common share at a price of $0.44 per common share until May 25, 2019.

Jim Bannantine, the Company’s President and Chief Executive Officer stated, “Aura has met its operating cost and gold production targets at its San Andres and Sao Francisco mines during the first quarter of 2016 and is extremely well placed for the absorption of the Ernesto / Pau-a-Pique Project into the Company particularly given the location of the Project in Mato Grosso and the associated synergies with the Company’s Sao Francisco mine. We are confident that we can restart the EPP Project as a positive cash flowing mine in the second half of 2016 to replace Sao Francisco when it ceases mining operations and expect to update the market shortly on the completion of that transaction. Aura remains focused on optimizing its cash flows from its operating projects to maximize shareholder return and fully service third party debt. We believe the company is extremely well placed for continued financial success as well as measured growth.”

“We continued to make good progress in reducing operating costs during the first quarter,” stated Brendan Cahill, President and Chief Executive Officer. “After accessing the Rodilla Manto earlier than planned in late February, we realized an AISC of $11.72 for March, demonstrating the opportunity to dramatically reduce costs per ounce under dry mining conditions at Platosa. We continue to execute our dewatering strategy, with the primary production wells now being drilled. Additionally, subsequent to the end of the quarter, we strengthened our balance sheet with a financing from Eric Sprott and the closing of the transfer of the DeSantis property’s mining claims to Oban Mining. Looking ahead, our focus is to continue to improve operating results as the Platosa optimization program is implemented.”

“Profit margins increased in the first quarter due to additional cost savings and various operational improvements across the business,” stated Keith Neumeyer, President and CEO of First Majestic. “Even with relatively flat silver prices compared to the previous quarter, we generated strong free cash flow due to lower operating costs and higher production at the mines. Our new mine, Santa Elena, had another great quarter and continues to exceed our expectations. Due to the significant cash flows now coming into the business combined with the recently announced C$50 million financing, we are beginning to evaluate internal growth projects, starting with increasing development and exploration at each of our operations in the coming quarters.”