Category: Investor’s Corner

Telson Resources Inc. is pleased to announce that it has retained the services of Renmark Financial Communications Inc. to support Telson’s investor relations activities. Renmark is one of the largest retail investor relations firms in Canada, offering a wide range of integrated investor and financial communications services.

Mark Brennan, President and CEO of Sierra Metals stated, “At Bolivar, we saw another record quarter of throughput however encountering lower grades. We continue to be optimistic that we will see higher metal production as we begin accessing higher grade ore by the end of the year. At Cusi, silver equivalent production increased 23% over the same quarter last year and the Mine began shipments of zinc with over 1 million pounds produced for the quarter. Sierra continues to have a strong balance sheet and liquidity to drive operations and remains determined to increase production in the future while reducing costs at all three Mines.”

“Clearly the highlight of the Company’s second quarter was declaring commercial production at the Avino Mine, our second and largest mining operation,” said David Wolfin, Avino’s President and CEO. “This achievement marks years of determined effort by our entire team, both in Mexico and Canada, for which I am grateful. The Company is significantly more valuable as a result.

Deep exploration drilling at Juanicipio was ongoing throughout the quarter, and 6 drill rigs are currently on the property drilling, 5 from surface and 1 from within the underground ramp.
2015-2016 drilling to further delineate the extent of the new Valdecañas Deep Zone was completed, and assays released subsequent to the quarter end…

War Eagle Mining Company Inc. announced today that Paul A. Carroll QC, a Director and Chairman of the Board of the Company, has been appointed as its President and Chief Executive Officer replacing Thomas R. Atkins who continues as a Director. Mr. Carroll has been a Director of War Eagle since November 7, 2012 and is the owner of 2.1 million (9.8%) of the common shares of the Company and holds options to acquire an additional 600,000 shares of the Company.

The Private Placement, as stated previously, comprised of the sale of 10,000,000 units at a price of $0.05 under terms as outlined in News Releases No. 056 and 057. Each Unit will consist of one common share of the Company and one half-share purchase warrant. Each full warrant will be exercisable for one additional share of the Company’s common stock for two years at a conversion price of $0.10, subject to an acceleration provision triggered if at any time after November 30th, 2016, the Company’s common shares have a closing price on the TSX Venture Exchange at or above a price of $0.20 per share for a period of 10 consecutive trading days. A total of 5,000,000 Warrants were issued pursuant to the Private Placement as part of the Units.

Silver Spruce Resources Inc. announces that it has closed its previously announced non-brokered private placement and raised gross proceeds of $549,755.00. The offering will consist of the issuance of 8,457,769 shares and 8,457,769 warrants.

“Q2 2016 was a strong quarter operationally as we continue to see the benefits of the mine plan adopted late last year” stated Interim CEO Mark Backens. “Our cash costs for the quarter of $681 per ounce and all-in sustaining cash costs of $761 per ounce were particularly strong and were respectively 30% and 33% lower than the comparable period. We were able to eliminate all of our secured debt to Sprott Resource Lending Partnership (“Sprott”), Goldcorp Inc. (“Goldcorp”) and the Lundin Group.”

“We generated $66 million of operating cash flow in the second quarter, the highest level since the fourth quarter of 2012. Even more impressive is the fact that the increase was largely driven by reduced costs across all of our operations,” said Michael Steinmann, President and Chief Executive Officer of the Company. “The cash generated fully funded all of our capital requirements, including our expansion projects, and increased our cash and short-term investment position to over $204 million.”

The net proceeds from the Offering will be used by Prospero to advance Prospero’s existing project portfolio to drill-ready status, to expand the project portfolio by possible new acquisitions, and for general working capital purposes. Strategic joint ventures will also be sought.