Category: Investor’s Corner

“The Company is pleased to report another quarter of positive results from mining operations. Compared to the third quarter of 2014, our revenues have increased, despite weaker metals prices, as the result of producing and selling more silver equivalent ounces. Our operations and finance teams have continued to do an excellent job of managing costs and controlling expenditures. Our consolidated all-in sustaining cash costs for the quarter decreased to $11.99 compared to $13.01 in the third quarter of 2014, and we will continue to seek out opportunities to further reduce costs and improve efficiencies. ….,” stated Malcolm Davidson, CFO.”

Jorge A. Ganoza, President and CEO, commented, “Our operation at San Jose continues to outperform, enabling the company to sustain positive financial results amidst an extremely challenging metal price environment. Our teams continue to focus on running our operations efficiently, optimizing mine plans and increasing margins per tonne.” Mr. Ganoza added, “With the commissioning of the San Jose expansion to 3,000 tpd in mid-2016, the company will further improve its operating margins and cash flow generation.”

McEwen Mining Inc. announces that while it is continuing to consider internal and external candidates for the position of Chief Financial Officer, the Board of Directors has appointed Rob McEwen as Interim Chief Financial Officer.

Oceanus Resources Corporation and El Tigre Silver Corp. are pleased to announce that El Tigre received the overwhelming approval of its shareholders at the special meeting held today to consider the previously announced acquisition of El Tigre by Oceanus by way of a plan of arrangement under the Business Corporations Act (British Columbia).

“Odyssey has made significant progress this quarter towards the planned transformation of our company that we have been discussing since March of this year. The environmental permit process is well underway in Mexico. A well-attended public hearing for the project was held in October to solicit questions from interested parties. Written responses are currently being prepared for SEMARNAT using the extensive scientific data and testing conducted over the past several years,” said Mark Gordon, Odyssey Chief Executive Officer.

Silver Spruce Resources Inc. announced today that the Company will not proceed with arrangement of the non-brokered private placement as previously announced in its media release dated September 28, 2015. The Board has opted to withdraw this price reservation in favor of filing new documents with TSXV for a non-brokered placement of up to 13,333,333 Units for gross proceeds of up to $1,000,000.

McEwen Mining Inc. is pleased to report record quarterly production of 43,390 gold equivalent ounces and earnings from mining operations of $13.4 million for the three months ended Sept. 30th, 2015. The El Gallo Mine in Mexico was the star performer in the quarter, producing at total cash costs and all-in sustaining costs (AISC) per gold equivalent ounce of $454 and $570, respectively.

Fred Stanford, President & CEO of Torex stated: “We are on the doorstep of production and would like to take the time to thank all of the supporters that have helped us along this path of turning intention into reality. Construction on the processing plant is now drawing to a close and attention has shifted to managing the ramp-up process. First gold is expected before year-end and a skilled team is in place and prepared to deal with the inevitable challenges. The achievement of commercial production is anticipated for Q2/16 as per the schedule when construction started…”

“Great Panther’s third quarter 2015 financial results benefited from continued reductions in cash cost, all-in sustaining cost, and from production growth which helped mitigate further weakness in silver and gold prices,” stated Robert Archer, President and CEO. “All-in sustaining cost for the third quarter was once again below current silver prices…”

“During the third quarter we delivered solid production performance, with Greens Creek continuing to lead the way. Cash costs, after by-product credits, were higher because of the weak price of our by-product metals,” said Phillips S. Baker Jr., Hecla’s President and CEO. “Hecla’s cash flow and balance sheet have allowed continued investment in capital improvements, growth and exploration initiatives; the benefits of which are just beginning to be realized. We expect San Sebastian to start processing ore by year end, Casa Berardi is accessing a newly discovered, high-grade stope and the Lucky Friday has returned to full production after replacing the main ventilation booster fans.”