Category: Investor’s Corner

IIROC can make a decision to impose a temporary suspension of trading in a security of a publicly listed company, usually in anticipation of a material news announcement by the company. Trading halts are issued based on the principle that all investors should have the same timely access to important company information. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.

Argonaut Gold Inc. announces the retirement of Brian Kennedy from the Board and as a Chairman of the Company effective December 31, 2015 for personal reasons.

Fred Davidson, President and CEO, stated, “Our production performance during the third quarter 2015 continues to demonstrate IMPACT Silver’s success and viability as a proven explorer and producer. With nearly a decade of production history, this quarter we generated some of the highest grades in the Company’s history at 214 g/t silver. In combination with stringent cost controls and improving grades, we achieved positive operational cash flow and positive EBITDA of $0.6 million this quarter. Despite lower silver prices persisting in 2015, our focus on profitability and higher grade zones of silver at San Ramon and Mirasol continue to keep IMPACT as a self-sufficient and enviable producer in the Mexican silver space….”

Starcore International Mines Ltd. announces that the Board of Directors has approved a resolution consolidating the Company’s share capital on the basis of every four shares of the Company being consolidated to one share.

Santacruz Silver Mining Ltd. announces that the Company has agreed in principle to terms whereby it will receive US$9.5 million under a senior secured loan facility with a lender syndicate headed by CrediPresto Group and including two other institutions.

All matters tabled for consideration, as outlined on the Company’s Notice of Annual General Meeting, were unanimously approved at the Meeting. A brief list of the most important items of business conducted at the Meeting are as follows:

A$5.22 million placement to underpin resource drilling and pre-feasibility work

Significant support from major North American institutions

Substantial shareholder Mr Mark Creasy continues support with a further A$1 million investment

Millrock President & CEO Gregory Beischer commented, “For this strategic financing – which will be used to acquire several high-potential projects – we were approached by a group of financiers that have previously invested in Millrock. While we are cognizant of the dilution this strategic financing will cause, we believe that the property acquisitions that we intend to make with the proceeds of this financing will ultimately pay off for all Millrock shareholders.”

Net proceeds from the private placement will be used to augment the Company’s current cash of $5.1 million and for general corporate purposes. The Company’s total cash position at closing is approximately $7.6 million.

Oroco Resource Corp. announces that, further to its news release of September 28, 2015, it has agreed with Goldgroup Mining Inc. to extend until January 16, 2016 the deadline for Goldgroup to enter into a formal debt repayment agreement with the Company. Goldgroup will pay US$25,000 to the Company in consideration for the extension. Remaining in place is the $100,000 break fee payable by Goldgroup if the formal debt payment agreement is not signed by the agreed deadline. In a related transaction, the Company will sell the 3 million shares of Goldgroup that it had agreed to sell to persons introduced by Goldgroup at a price of $0.06. After completion of the sale, the Company will hold 14,125,000 Goldgroup shares.