“Consistent with our strategy to grow despite price weakness, the first quarter production was the highest in our 500 quarter history,” said Phillips S. Baker, Jr., Hecla’s President and CEO. “Our focus on high return growth like we have at San Sebastian gives Hecla leverage to increasing silver prices. And Casa Berardi’s growing production from the East Mine Crown Pillar pit should do the same for gold.”
McEwen Mining Inc. is pleased to announce consolidated quarterly production of 37,958 gold equivalent ounces and earnings from mining operations of $19.5 million for the three months ended March 31, 2016. The El Gallo Mine in Mexico had an outstanding quarter, producing at total cash costs and all-in sustaining costs per gold equivalent ounce of $432 and $532, respectively. The San José Mine in Argentina also performed well, and as a result we received a dividend of $2.6 million from MSC in the quarter, compared to a $0.5 million dividend received during all of 2015.
“Great Panther continued to deliver strong performance from its operations in the first quarter, including continued reductions in cash costs and all-in sustaining costs, while staying on track with our full year operating guidance,” stated Robert Archer, President and CEO. “Our mine operating earnings before non-cash items increased 16% over the first quarter of the prior year due to significantly lower cash costs and favourable foreign exchange rates. Consolidated cash cost for the Company continued the declining trend of last year to reach US$4.20 per payable silver ounce, an impressive reduction of 52% from the first quarter in 2015.”
Gold Resource Corporation reported production results for the first quarter ended March 31, 2016 of 6,463 ounces of gold and 434,142 ounces of silver, which generated $17.4 million in net revenue for the quarter. Gold Resource Corporation is a gold and silver producer with operations in Oaxaca, Mexico and exploration in Nevada, USA. The Company has returned $108 million to shareholders in monthly dividends since commercial production commenced July 1, 2010, and offers shareholders the option to convert their cash dividends and take delivery in physical gold and silver.
Primero Mining Corp. announces that today, at its Annual General and Special Meeting of Shareholders, all Directors nominated as listed in the Management Information Circular dated March 22, 2016 were re-elected.
BOWMORE Explorations Ltd. would like to provide an update to its Private Placement recently announced March 17, 2016 and that the Company is actively facilitating the closing of the Private Placement which the Company expects will occur on or before May 24, 2016. The Company has received conditional regulatory approval for the non-brokered private placement for total gross proceeds of up to $750,000.
“During our first quarter, we successfully implemented improved ground control procedures across our vast San Dimas mine,” stated Ernest Mast, President and Chief Executive Officer. “I feel a renewed sense of optimism as we enter the second quarter. On all-levels, we are pulling together as a stronger Primero team to achieve our corporate objectives, and through April we have made significant advances towards attaining these goals…”
All matters presented for approval at the Meeting by management were duly authorized and approved, as follows:
1) election of all management nominees to the board of directors of the Company;
2) appointment of PricewaterhouseCoopers LLP, Chartered Accountants, as auditors of the Company for the ensuing year and authorization of the directors to fix their remuneration;
3) to confirm and reauthorize the Corporation’s share incentive plan for the Corporation; and
4) to have a shareholder advisory vote on the Corporation’s Report on Executive Compensation (“Say on Pay”).
Golden Minerals Company today announced that it has entered into a definitive agreement with institutional investors for an offering of shares of common stock with gross proceeds of approximately $4 million. The closing of the offering is expected to take place on or about May 6, 2016, subject to the satisfaction of customary closing conditions.
“The year is off to a good start with a more constructive gold price environment and continued strong operating performance from all of our mines. As a result of the strong operating results, we now expect to meet the top end of our production guidance for 2016,” said Sean Boyd, Agnico Eagle’s Chief Executive Officer. “At current margins, Agnico Eagle is generating sufficient cash flow to support its expanded exploration and development activities and potentially pay down additional debt,” added Mr. Boyd.
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