“Capstone’s 2015 copper production met guidance, with outperformance at Pinto Valley and Minto offsetting the production challenges at Cozamin that occurred early in the year,” said Darren Pylot, President and CEO of Capstone. “Pinto Valley had a very strong fourth quarter with record quarterly throughput of over 54,000 tonnes per day, demonstrating significant improvement and exceeding our expectations.”
22% increase in production year-over-year to 154,529 gold equivalent ounces in 2015.
New pro-business government elected in Argentina, positive policy changes already enacted.
4.2 grams per tonne average crushed gold grade at El Gallo Mine in Q4 2015 vs. 2.3 gpt in Q3 2015.
Production guidance of 141,000 gold equivalent ounces in 2016.
No debt, $5.2 million line of credit repaid in full.
$32 million in cash, cash equivalents and precious metals.
2nd semi-annual return of capital of $0.005 per common share will be paid on February 12th, 2016 to shareholders of record at the close of business on February 3rd, 2016.
Bradford Cooke, CEO and Director, commented, “Our mining operations group is to be commended for delivering another solid year of production in 2015. Guanaceví continued to perform better than plan and the completion of the Phase 2 mine expansion from 1,500 tpd to 2,200 tpd at El Cubo was a significant achievement, offsetting the planned lower production from Bolañitos.
Despite a difficult metals market, Heclas production continues to grow, setting the 2nd consecutive annual silver production record, said Phillips S. Baker, Jr., Heclas President and CEO. All three mines exceeded guidance and San Sebastian has begun production. We are continuing to see results from our strategy of investing in production growth, causing our silver equivalent production to be the most in our 125-year history. This growth, along with cost controls and focused investment, puts Hecla in a good position now and when metals prices rebound.
Canarc Resource Corp. is pleased to announce that it has appointed Mr. Alfonso Canseco as Interim General Manager for Canarcs fully permitted El Compas Gold-Silver Mine in Zacatecas, Mexico, effective immediately. Based in our Zacatecas office, Mr. Canseco will be responsible for directing our efforts to bring the El Compas mine into production in 2016.
GoGold Resources Inc. is pleased to announce that Brad Langille moves from Strategic Advisor to replace Terry Coughlan as President and CEO effective today. Mr. Coughlan will continue his role as Chairman of the Board of Directors.
Brad is the right person to take GoGold to the next level, said Coughlan. His experience in building and operating mines in Mexico is instrumental in executing GoGolds growth plan.
The Board of Directors of Aurcana Corporation reports that upon reviewing the trading volume, costs and administrative requirements related to the Company’s listing on the OTCQX International, it has voluntarily delisted its common shares from the OTCQX International effective tomorrow, January 6, 2016. Aurcana’s common shares continue to be listed on the TSX Venture Exchange.
The Board of Directors of Almadex Minerals Limited has adopted a shareholder rights plan. The Plan has been accepted for filing by the TSX Venture Exchange.
Mexus Gold US announced today that it anticipates that in the first part of 2016 one of several mining companies currently reviewing the Julio/Martha Elena property will pick up and continue where Argonaut left off. The company believes that this property has tremendous potential and that a well-funded company will use the significant work already completed to further the project. President Paul Thompson added, This is an important time for Mexus. We have a major mining company looking at the Julio/Martha Elena and our hope is to complete a deal that is fair for all given the challenges within the mining industry.
Paget Minerals Corp. is pleased to announce that the $100,000 financing announced on November 16, 2015 has been increased to $150,000 and is fully subscribed. The financing includes $47,500 from Pacific Opportunity Capital Ltd., a private company in which Mark T. Brown, CPA, CA, a director of the Company, is the President.
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