Aura Minerals Inc. is pleased to announce preliminary 2014 fourth quarter and full year production results and guidance for 2015 production and capital expenditure. All dollar figures are in United States dollars unless otherwise indicated.
Further to the News Release dated January 12, 2015 Morro Bay Resources Ltd. is pleased to announce the Company and Riverside Resources Inc. have agreed in principle to terms for an amendment to the option on the Peñoles Gold-Silver Project located in the Peñoles Mining District, Durango, Mexico. A further news release will follow.
Paget Minerals Corp. wishes to announce that it has entered into a debt settlement agreement with a creditor of the Company pursuant to which the Company has agreed to issue an aggregate of 882,968 common shares at a deemed price of $0.05 per Share in order to settle certain obligations of the Company under an option agreement dated August 17, 2012, as amended on April 25, 2013. The Company decided to satisfy this outstanding indebtedness with Shares in order to preserve its cash for operations.
War Eagle Mining Company Inc. announces that at its Annual and Special Meeting of Shareholders held on January 15, 2015, all resolutions proposed to shareholders were duly passed, including election of directors, approval of the 2014 Stock Option Plan and disinterested shareholders approval respecting the issuance of 1,400,000 common shares relating to a debt settlement in October 2014 of $70,000 of debt due to two insiders of the Company. During the meeting, Thomas R. Atkins, Paul A. Carroll and Donald Padgett were re-elected to the Board of Directors. In addition, Malcolm P. Burke was elected as a new independent Director to the Board.
Orex Minerals Inc. announces that it has closed a non-brokered private placement offering of 4,800,000 common shares of the Company at a price of $0.25 per share for gross proceeds of $1,200,000. Orex intends to use the net proceeds of the Private Placement for continued exploration and development of its Los Crestones Property located in Sinaloa, Mexico and for general corporate and working capital purposes.
Tosca Resources Corporation reported today that it had closed on a previously announced private placement of 3,310,000 units at a price of $0.05 per unit for aggregate gross proceeds of $165,500. Each unit consisted of one common share and one/half share purchase warrant. Each whole warrant is exercisable into one common share at a price of $0.10 per share for a period of one year, expiring January 14, 2016. The shares forming part of the units and any shares acquired on exercise of the warrants are subject to restrictions on resale until May 15, 2015.
In 2014, Avino achieved significant production expansion at the Avino Property. During the year, the Company’s consolidated silver equivalent production increased by 49% for a total of 1,342,150 ounces.
Mundoro Capital Inc. announces the Board of Directors has, as part of the Companys annual compensation review, and pursuant to the Company’s stock option plan, granted 522,500 incentive stock options exercisable at $0.21 per share for a period of five years to 4 independent directors, 1 officer, and 2 consultants of the Company. The options are subject to vesting such that 1/3rd of the options shall vest at time of grant, 1/3rd of the options shall vest 12 months from the date of grant and 1/3rd of the options shall vest 24 months from the date of grant. The Company held salaries flat in 2014 and paid no cash bonuses in 2014. The last option grant the Company made was in December 2013. The Company will have after this January 2015 grant, a total of 3,345,000 options outstanding which represents 7.77% of the shares outstanding.
Source Exploration Corp. announces that an update to the terms of its previously announced non-brokered private placement of up to 10,000,000 units of the Company consisting of one common share of the Company and one half of one common share purchase warrant at a price of $0.08 per Unit for gross proceeds of up to $800,000. The Company has determined that the terms of the Warrants will no longer include a right of the Company to accelerate the expiry date on notice to the Warrant holders if the closing price of its common shares on a stock exchange in Canada is higher than $0.10 per common share for a period of 10 consecutive trading days after four months and one day from the closing date of the Private Placement.
YAMANA GOLD INC. today advised it has filed the preliminary prospectus relating to its recently announced bought deal equity offering of over C$260 million. The net proceeds of the Offering will be used to reduce the amount outstanding under the Company’s revolving credit facility thereby further strengthening the balance sheet and providing flexibility to fund its internal growth opportunities.
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