Category: Investor’s Corner

“Strong operating results translated into substantial increases in our operating margins and operating cash flow for 2015, despite continued declines in silver and gold prices”, stated Robert Archer, President & CEO. “Production increased 30% as a result of the ramp-up of San Ignacio and improvements in grade control and operating efficiencies. These factors, combined with favourable foreign exchange rates, also resulted in significantly reduced cash cost and all-in sustaining cost. In addition, our strong operating cash flow enabled us to invest in strategic initiatives and fund advanced exploration projects while maintaining our strong cash and working capital balances.”

“We are proud to have a close and positive working relationship with the concession vendors and are pleased to welcome them as shareholders of the Company,” stated Stephan Jedynak, President and CEO. “The modified purchase agreement terms will allow us to put the majority of the proceeds from our ongoing financing into the project and the planned 3,000 metre maiden drill program at Pino de Plata.”

Canarc Resource Corp. is pleased to announce that it has closed the first tranche of its previously announced private placement equity financing. The first tranche of the private placement consisted of 17,705,152 units priced at CAD$0.09 each for total proceeds of CAD$1,593,464.

BACANORA MINERALS LTD., the London and Canadian listed lithium company that is developing the Sonora Lithium Project in northern Mexico, is pleased to announce positive results of a Pre-Feasibility Study (prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects) for the development of a mine and lithium carbonate processing facility at Sonora. The PFS estimates a Project pre-tax Internal Rate of Return of 29% (post-tax 25%) and an associated Net Present Value of US$776M, (post-tax US$542M) at an 8% discount rate. These results highlight the strong economic potential of producing up to 35,000 tonnes per annum of battery grade Li2CO3 at Sonora. In addition, Sonora has the potential to produce up to 50,000 tonnes per year of potassium sulphate, for sale to the fertiliser industry.

The Company also announces that it has entered into a transaction with Auramet International LLC, a subsidiary of Auramet Trading LLC, with respect to a prepayment of gold sales for US$12.325 million. The proceeds of the Transaction will be used for the Company’s corporate debt consolidation and working capital.

Keith Piggott, Chairman, President and CEO of Goldgroup commented: “The Company has continued its effort to bring better efficiency into Cerro Prieto to allow profitability at lower metal prices. Our key focus for 2016 is to continue to ramp up gold production and lower crushing and mining costs. With the recent closing of the Credipresto credit facility amendment and improved metal prices, the Company will continue to seek opportunities to improve its financial position.”

“Avino has delivered another year of strong financial and operating results. In 2015, the mining industry continued to endure challenging market conditions and depressed metal price’s however Avino, through the hard work of its team of professionals, maintained its strong financial position and increased its production and silver equivalent ounces sold. During the year we continued to build our first class fleet of mining and production equipment which has significantly contributed to our consolidated all-in sustaining cash cost of $12.14 (US$9.49) per silver equivalent ounce. We continue to believe that our financial and operational condition and our strong balance sheet have well positioned the Company to advance and meet its objectives,” stated Malcolm Davidson, CFO.

“I am very pleased to have the opportunity to help guide Alix’s growth strategy.” stated Mr. Ecclestone. “I have connections with Mexico going back to the 1990s and find the country one of the best places to engage in business. In particular the Electra project is exciting as it gives a chance to try and exceed what has already been achieved at the neighbouring Sonora project. The JV with Lithium Australia, another company with which I am acquainted brings a unique skillset in lithium mica clays.”

Proceeds will be used for general working capital and to prepare an internal scoping study to pre-feasibility standards and subsequently advancing this internal scoping study to comply to NI43-101 standards by independent engineers. In addition, the Company will use proceeds to initiate the process of environmental permitting to be supported by the internal scoping study targeting underground mining operations up to a rate of 500 tons per day on the Tahuehueto Project.

MAG Silver Corp. announces that it has completed its previously announced bought deal financing and has issued 8,905,000 common shares at US$7.30 per share, for gross proceeds of US$65,006,500. The Offering was conducted by a syndicate of underwriters led by Scotia Capital Inc., BMO Nesbitt Burns Inc. and Raymond James Ltd., and including Macquarie Capital Markets Canada Ltd., National Bank Financial Inc., TD Securities Inc., Cormark Securities Inc., Desjardins Securities Inc. and PI Financial Corp. The Underwriters reserve the right to exercise all or any portion of an over-allotment option of 1,335,750 common shares at any time within 30 days following closing.