Radius Gold Inc. is pleased to advise that it has completed the sale of its Tlacolula Property, Mexico to Fortuna Silver Mines Inc. On closing of the transaction, Radius received US$150,000 cash and 239,385 common shares of Fortuna, and has been granted a 2% NSR royalty on the Property. Fortuna retains the right to purchase one-half of the royalty by paying Radius US$1.5 million.
Sarape displays many similarities with Evrims Ermitaño project discovery where exploration partner First Majestic drilled 18 metres grading 11.4 g/t gold, commented Charles Funk, Evrims Vice President of New Opportunities and Exploration. Common to both projects are prominent outcropping broad veins with low to moderate grade gold and silver at surface. A key observation lies in the recognition of textures within the veins at surface which commonly occur above concealed high-grade ore-shoots.
“We are pleased to have achieved another productive quarter with strong financial and operational results. Our focus continues to be our expansion plans at the Avino mine with the addition of Mill Circuit 4, as well as a planned underground drill program at the Bralorne Mine to better define the resources above and below the 800 level. We are confident that the implementation of these important plans will continue to support the Company’s growth efforts. We appreciate the support and dedication of our teams in Mexico and Canada, who continue to maintain efficiencies at our operations.”
GREAT PANTHER SILVER LIMITED announces the appointment of Jim Bannantine as President and CEO, effective August 16. Mr. Bannantine will succeed Robert Archer, who, in April 2017, announced his intention to step down this year. Mr. Archer is a co-founder of the Company and will remain on the Board of Directors.
Prospero Silver Corp. announces that it has, together with its Mexican subsidiary Mineral Fumarola, S. A. de C. V., entered into an option to own agreement with Exploraciones del Altiplano, S.A. de C.V. to earn a 100% right, title and interest in and to Altiplanos Buenavista claims located in Durango, Mexico, subject to the reservation by Altiplano of a 2% net smelter return royalty. The Option Agreement is subject to approval of the TSX Venture Exchange.
Gold Resource Corporation reported production results for the second quarter ended June 30, 2017 of 5,696 ounces of gold and 397,670 ounces of silver, which along with base metal revenue generated $21.4 million in net revenue for the quarter and $0.9 million in net income for the quarter. Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, U.S.A. The Company has returned $110 million to its shareholders in monthly dividends since commercial production commenced July 1, 2010, and offers its shareholders the option to convert their cash dividends into physical gold and silver and take delivery.
Brian Robertson, President and CEO, commented, We are extremely encouraged by this substantial initial Mineral Resource Estimate. The fact that the two zones remain open to expansion both laterally and at depth, when combined with the additional six largely untested mineralized zones, clearly demonstrates the potential to expand resources at Las Minas. Additional drilling is scheduled for commencement to expand the initial resource estimate for these two zones and test other high priority targets. Results will be released as they become available. The Mineral Resource Estimate marks a very important milestone for the development of the Las Minas property and a significant event for our shareholders.
Oceanus Resources Corporation has closed a non-brokered private placement raising $3,000,000 through the issuance of 10,000,000 units at a price of $0.30 per unit. Each Unit consists of one common share and one-half warrant of the Company at $0.30 per Unit. Every two one-half common share purchase warrants of the Company entitles the subscriber to acquire one common share of the Company for $0.40 for a period of eighteen months from the closing date. The Units issued pursuant to this private placement are subject to a 4 month hold period that expires on December 2, 2017.
The mine has returned to normal tonnage and metal production under interim COO Ralf Kleine. Our very strong cash position and balance sheet coupled with the ramping up of our Altiplano processing facility will open us to opportunities to potentially increase production. reported Robert Eadie, President of the Company.
Completion of the Transaction as contemplated would constitute a change of business in accordance with TSX Venture Exchange Policy 5.2., Changes of Business and Reverse Take-overs, as the Companys current business is exploration for minerals. The proposed Transaction would see the Company engage in the ownership and management of multi-unit residential real estate. As a result, the Transaction is subject to Exchange acceptance and will also require the approval of the shareholders of NSX Silver.
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