Telson Resources Inc. is pleased to announce that processing of Tahuehueto ore for mineral recovery at the Atocha toll mill is underway. It is planned to process the ore at 300 tonnes or more per day.
Neil Woodyer, CEO stated Development of the exploration ramp is an important step in advancing Bermejal Underground towards production. The ramp will provide access to the eastern and central portions of the deposit. The mineralization is similar to the Los Filos Underground deposits where we are currently mining, and this development provides an opportunity to carry out additional exploration from underground as well as demonstrate the minability of Bermejal Underground. Access to the ore body will also provide a larger sample for confirmatory metallurgical testwork for heap leaching. These steps will advance the deposit towards declaration of reserves and incorporation into the mine plan.
During the second quarter, we realized on our plan to resume high-grade and cash flowing production from Platosa, stated Brendan Cahill, President and Chief Executive Officer. We certainly faced challenges over the first half of 2017, with access to ore limited by water inflows, but our team executed and, by the end of the second quarter, we had achieved dry mining conditions and were mining fresh, high-grade manto mineralization. Looking forward, our goal is to steadily increase production over the remainder of 2017 to 300 tpd by year-end. We have also began driving further reductions in key cost centres, most importantly electricity usage, where incremental savings can result in material additional cash flow. We remain focused on our target of doubling production and halving costs at Platosa over the coming quarters and we are already pleased with the improvements in cash flow we see at 200+ tpd.
“Operational performance in the second quarter was on plan, with costs trending down from the first quarter,” said Darren Pylot, President and CEO of Capstone. “Most importantly, Pinto Valley returned to full production, setting quarterly and monthly throughput records.”
“For the second half of the year, approximately half of our production is unhedged and completely unhedged in 2018 and beyond,” continued Mr. Pylot.
“I want our shareholders to understand that production and sale of gold is imminent. We have faced and overcome the initial hurdles and are nearing the time when production will begin full time for years to come. Both MarMar and Mexus agreed that we would hold off running our gold through the Merrill Crowe system until assured that the recoveries were acceptable. Patience in this area is prudent as we dont want to risk the loss of any gold. I want to reiterate that production will be constant once all of the minor tweaks are made and we move to full time production,” added CEO Paul Thompson.
Photo gallery of progress at the Magistral del Oro tailings project, Durango
Santacruz Silver Mining Ltd. reports that further to its news release dated June 28, 2017, it has closed, for gross proceeds of $935,000, the first tranche of the previously announced non-brokered private placement for gross proceeds of up to $1,500,000.
“We are pleased with the progress on the permitting process at Topia and we will continue working closely with the Mexican authorities to obtain this permit in a timely manner”, stated Robert Archer, President & CEO. “During the response period, we plan to continue normal operations at Topia using the existing Phase I TSF.”
Closed C$9.7 million strategic financing with Agnico Eagle
Environmental Application redrafted and submitted to SERMARNAT
Drill mobilized for 2,000 meter infill drill program at La Paila zone
7,500 meter phase 1 drill program of several high priority targets identified outside of La Paila resource area to commence 4Q17
Im pleased with our results, said Don Lindsay, President and CEO. We generated adjusted EBITDA of $1.3 billion in the second quarter and $5.4 billion over the last twelve months. After a challenging first quarter we set second quarter steelmaking coal sales and production records of 6.9 and 6.8 million tonnes, respectively, and we reduced our outstanding notes to US$4.8 billion, achieving our target of less than US$5 billion.
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