The gross proceeds of the FT Offering will be used for further exploration of the Company’s Pine Pass vanadium project located on the John Hart Highway between Mackenzie and Chetwynd, British Columbia.
In a news release issued yesterday morning, the Company had reported that one insider of the Company had participated in the Financing, when in fact, there were 2 insiders, who invested an aggregate of CA$181,650 (US$140,000) representing 8.2% of the total amount raised.
Un total de 240 trabajadores de la mina El Cubo serán despedidos, debido a la baja producción que proyecta tener el próximo año la empresa Endeavour Silver Corporation, de acuerdo con una revisión anticipada. La mina reduciría sus tres turnos a uno solo por día en 2019.
Due to the current short mine life at El Cubo, the Company plans to reduce the production rate in 2019 to approximately half its 1500 tonne per day capacity, at higher operating costs than 2018, while continuing to explore for new reserves to extend the mine life. More details will be provided when Endeavour releases its 2019 consolidated production and cost guidance in January.
Brad Langille states, We are committed to the health and safety of all of our workers and the community. We have reached the milestone of one million hours with no loss time accidents, during which time Parral was in full operation. I would like to thank our team at Parral for their continuous commitment to safety. We are very proud of this achievement and will continue to have a commitment to zero accidents.
SilverCrest Metals Inc. is pleased to announce the grant of stock options under its Stock Option Plan to the Companys directors, officers, employees and consultants. In addition, SilverCrest has agreed to a private placement by Pierre Beaudoin, the Companys recently appointed Chief Operating Officer.
Magellan Gold Corporation, a U.S. based mining and exploration enterprise focused on silver and gold, today announced it has reached preliminary agreement to toll treat mineralized material utilizing the Company’s SDA Mill at Acaponeta, Nayarit State, Mexico. A private third-party supplier will be responsible for sourcing the mineralized material and delivering it to the mill. Test processing of an initial bulk sample of approximately 1,000 tons is expected to commence during December 2018.
An aggregate of CA$2,212,510.00 (approximately US$1,700,000) has been raised pursuant to the Financing, and 44,250,200 additional Shares and 22,125,100 additional Warrants are being issued, subject to the final acceptance by the TSXV Venture Exchange. After issuing the Shares, there will be 305,766,461 shares issued and outstanding. The Shares and Warrants will be subject to the Statutory 4-month Hold Period in Canada expiring April 15, 2019. One insider of the Company, Mr. Terrence Martell, participated in 3.3% of the Financing.
Silver Viper Minerals Corp. is pleased to announce that it has acquired three large mineral concessions totaling 35,598 hectares that comprise part of the La Virginia Gold-Silver Project in Sonora, Mexico, from a subsidiary of Pan American Silver Corp. pursuant to an assignment agreement dated December 14, 2018.
Consultancy firm Americas Market Intelligence or AMI issued this week a lengthy report on the risks of mining in Latin America. One of the chapters focuses on security hazards and reveals that such perils are not necessarily provoked by illegal groups.
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