Minera Alamos Inc. is pleased to announce closing of the second tranche of its previously announced private placement for aggregate proceeds of $500,000.
México produjo 189.5 millones de onzas de plata en 2015, un aumento de 3.2 millones de onzas, 2.0 por ciento respecto a 2014, con lo que logró la mayor producción global de este metal en la historia reciente, según el Instituto Mundial de la Plata.
Endeavour CEO Bradford Cooke commented, “In the First Quarter of 2016 we delivered on our plan to minimize all-in sustaining costs and improve after-tax free cash flow. We also raised $9.1 million of equity financing during the quarter to improve our working capital and fund some of our growth projects, primarily exploration and engineering at Terronera. Aggressive step-out drilling is now under way at Terronera to further test the Terronera vein and other prospective veins. The next phase of engineering work will also get under way in the second quarter as part of the Terronera pre-feasibility study.”
“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…”
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