The Company expects to close the acquisition of the complete process plant and select auxiliary equipment used in the operation of Goldcorps El Sauzal Mine in Chihuahua, Mexico from a Mexican subsidiary of Goldcorp later this month. The Plant is being acquired for future use at the Companys recently acquired Ana Paula project in Guerrero, Mexico.
Aurcana Corporation is pleased to report the Q3 2015 production results of 842,334 ounces silver equivalent compared to 997,530 in Q3 2014, a decrease of 16%. Silver production decreased by 15% to 348,764 in Q3 2015, compared to 412,063 in Q3 2014. Although milling and mining production increased during the third quarter, production occurred in lower grade areas of La Negra mine.
Red Tiger intends to use the Private Placement proceeds to fund the recommencement of mining operations.
Alamos Gold Inc. today announced that Scott Perry has resigned from the Company’s Board of Directors following his appointment as Chief Executive Officer of another intermediate gold producer.
Alain Lambert, Chairman and CEO of Cyprium stated: “Following our announcement on the proposed joint venture for the exploitation and exploration of the Potosi silver mine located in the historic silver rich mining district of Santa Eulalia in Mexico, we were approached by investors wanting to participate in our future growth by way of equity. We had originally planned to finance this transaction solely from the proceeds of the previously announced non-dilutive placement of bonds of Cyprium in the aggregate amount of US$4,500,000. We view the investors’ interest, especially in today’s market environment, as a strong show of confidence for the Company and we have decided to proceed with this equity financing.”
Aurcana’s Board of Directors has determined that the Restructuring Transaction is in the best interests of the Company and its stakeholders under the circumstances. The Restructuring Transaction will result in, among other things, an elimination of all debt obligations outstanding under the Facility on implementation of the Restructuring Transaction. The net result of the transaction will see Aurcana relinquishing control over its operations and subsidiaries in Mexico, the Shafter Silver Project will become Aurcana’s principal property asset and there will be sufficient cash in the treasury to meet the Company’s intermediate-term obligations and advance its asset base.
Mark Brennan, President and CEO of Sierra Metals, commented: “The Company continues to implement best practices and modern methodologies as we work to increase production in the coming years. Recognizing lower production in the short-term at Yauricocha as we work to make these changes, we are pleased that the Company has still maintained a solid quarter of production, including record silver equivalent production and plant throughput at our Cusi Mine. The quality of our assets, operated by our skilled teams, enables us to continue on the path towards meeting 2015 production guidance.”
Morro Bay Resources Ltd. is pleased to announce that its common shares have commenced trading on OTC Pink, the open marketplace of the U.S. Over-the-Counter markets, under the symbol MRRBF.
Argonaut Gold Inc. announced today that it produced 28,876 gold equivalent ounces during the third quarter ended September 30, 2015. This included 17,297 GEOs at its 100% owned El Castillo Mine located in the State of Durango, Mexico and 11,579 GEOs at its 100% owned La Colorada Mine located near Hermosillo, Mexico. Argonaut is well positioned to achieve its full year production guidance of 135,000 to 145,000 GEOs.
Alamos Gold Inc. today announced that the Company’s Board of Directors has declared a semi-annual dividend of US$0.01 per common share. This represents the Company’s 12th consecutive semi-annual dividend and once again demonstrates its commitment to returning value to shareholders.
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