The net proceeds of the Offering will be used to fund and provide liquidity for the Companys working capital obligations during the re-start and ramp-up of the ELG Mine Complex, as required, and for general corporate purposes.
Defiance Silver Corp. is pleased to announce the appointment of Mr. Peter J. Hawley as Interim President and CEO. Mr. Hawley is currently the Chairman of the Board, and an integral part of the Defiance team with over 36 years of geological and mining experience spanning grassroots exploration through to development and production.
Antonio Berlanga, CEO of Telson, states Management is very pleased with the results of our Tahuehueto preproduction toll milling program. We are consistently producing excellent lead concentrates above 46% lead with high precious metal content averaging 122 gAu/t and over 1,200 gAg/t, while zinc concentrate grades are averaging above 48% Zinc…”
Orla Mining Ltd. is pleased to announce that it has closed its previously announced bought deal financing, including the exercise in full of the underwriters over-allotment option. A total of 17,581,200 units of Orla were sold at a price of $1.75 per Unit, for aggregate gross proceeds of $30,767,100. Each Unit consists of one common share of Orla and one-half of one common share purchase warrant. Each Warrant will entitle the holder to acquire one common share of Orla at a price of $2.35 at any time prior to February 15, 2021.
Kootenay President and CEO James McDonald states, We are very pleased to launch the first phase of our 2018 drill program on La Cigarra. Our recent successes identifying two new silver discoveries (RAM and Las Venadas) and multiple new priority targets, along with the identification of a potential new emerging gold trend, clearly underscores La Cigarras immense potential within one of Mexicos premier mining districts.
Riversides President and CEO, John-Mark Staude, stated: Our drilling at the Puerto El Alamo target with partner Centerra explored for low-angle shear structures similar in nature to those controlling the El Chanate and other multi-million ounce gold deposits in Sonora. We are disappointed given all of the positive geologic and geochemical indications that we did not hit a gold-rich structure, but we still believe the project holds excellent exploration potential. We look forward to further exploring the San Pedro and La Joya targets where there is remaining gold discovery potential. We are pleased to continue working with Centerra as a partner and hope to add additional land tenure in the coming months.
“Our focus of improving our long-lived operations led to increased throughput and lower costs which, coupled with significantly higher base metals prices, drove our increasing cash balance and continued strong adjusted,” said Phillips S. Baker, Jr., President and CEO. “2018 should have further value creation at all our mines as we advance low-cost, high-return technologies that are focused on improving productivity. We are also taking a bulk sample of San Sebastian’s polymetallic zone which could further extend its mine life. Exploration spending is increasing as we see further opportunities for both discoveries and resource growth.”
Azure is currently designing a drilling program to follow-up these positive results by testing for along-strike and down-dip extensions and the depth potential of the high-grade gold and cobalt mineralisation. Preparation of the required environmental applications is in progress.
“In 2017, we had another strong year of operating performance exceeding our production forecast and beating our cost guidance for the sixth consecutive year. We set a new annual production record while recording the fewest number of lost time accidents, and we also increased our gold reserves”, said Sean Boyd, Agnico Eagle’s Chief Executive Officer. “Furthermore, we continue to make excellent progress on our Nunavut development projects which has allowed us to advance the expected start-up of Meliadine and increase our production guidance for 2018 and 2019. With projected production on track to reach approximately 2.0 million ounces with lower unit costs in 2020, the Company will be focusing on increasing its reserve base and advancing its development pipeline to enhance the production profile and grow free cash flow”, added Mr. Boyd.
Kenneth MacLeod, President and CEO of Sonoro commented, “I have had the privilege of being a close friend of Gary for over 30 years and all of the directors and staff at Sonoro forged close bonds with Gary over many years of working together in Mexico and Canada. Garys enthusiastic leadership and dedication have been a constant source of inspiration for the entire Sonoro team. We are greatly saddened by Gary’s passing and offer our condolences to his family as they celebrate his life and mourn his passing.
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