Category: Investor’s Corner

Southern Copper Corporation, a subsidiary of Grupo Mexico, bought the mine called El Pilar, located in Sonora, for $100 million.

Southern Copper Corporation, filial de Grupo México, compró por 100 millones de dólares la mina llamada El Pilar, ubicada en Sonora.

“We are pleased to have Lake Shore as a significant shareholder in IDM, and are grateful for a positive settlement of future liabilities related to legacy properties in Mexico,” said Michael McPhie, Executive Chairman of IDM Mining. “Lake Shore’s track record in operating a successful gold mine through challenging markets will benefit IDM as we advance the Red Mountain Gold Project through advanced engineering and the permitting process.”

La minera de plata y oro Fresnillo Plc dijo que recortaría su gasto planeado de capital para el 2015 a 570 millones de dólares, afectada por la volatilidad de los precios de los metales.

Octavio Alvídrez, Chief Executive Officer of Fresnillo plc, said: “We have had a solid first half operationally, with silver and gold production up 11% and 37% respectively. Saucito drove the increase in silver production, with the ramp up of Saucito II achieved well ahead of the three year timeframe initially anticipated. The increase in gold production was driven by Herradura and its dynamic leaching plant being fully operational throughout the period. We continue to advance development rates at Fresnillo, which should result in increased production by the year end, and we remain on track to reach steady state production at Herradura in the fourth quarter. I am confident that we are well-placed to meet our 2015 production guidance of 45-47 million ounces of silver (including the Silverstream) and our increased 2015 gold production guidance of 715-730 thousand ounces.”

Frederick H. Earnest, President and Chief Executive Officer, commented, “We were pleased with the addition of approximately $10.2 million of cash to our treasury from the R&D Tax Incentive Program. Based on our current plan of operations, we believe that we are now funded into 2018; and we still have opportunities to access additional financing from non-dilutive sources such as the sale of our used mill equipment and monetization of other non-core assets…”

Golden Minerals Company announced that Jeffrey G. Clevenger, the Company’s Chief Executive Officer, will retire effective September 1, 2015. Mr. Clevenger, who has served as Chairman and Chief Executive Officer since the Company’s inception in 2009, will continue to serve as Chairman of the Board of Directors.

Almaden Minerals Ltd. is pleased to announce an update in relation to the spin-out transaction described in the Company’s management information circular filed on SEDAR on May 15, 2015.

The Company also confirms that at its annual general meeting held on May 12, 2015, on a vote by show of hands, the individuals noted below were elected as the Directors of the Company, and if the matter had been voted by ballot, the following would have been the results:

Morro Bay Resources Ltd. is pleased to announce it has closed the first tranche of the non-brokered private placement announced July 29, 2015. The First Tranche consisted of the issuance of a total of 2,000,000 Units at a price of $0.05 per unit for gross proceeds of $100,000. The Private Placement remains open for further subscriptions.