– Transformational Transaction Creates Leading World Class Growth Royalty Company
– Doubles Near-Term Cash Flow and Triples Cash Flowing Assets
– La Caisse and Fonds Invest C$200 and C$75 Million in Osisko, Respectively
To say Im excited about this assay would be an understatement. This result confirms what we had already stated- the Julio vein is rich in gold! The results from this vein will fluctuate but its important to keep in mind that we will also be digging in high grade zones as we work the shear wall. Getting Cesar involved is a real game changer for all as he knows this property extremely well. I would also like to add that our investors need to focus on our press releases for a source of information. Anything else is speculation or has been extrapolated from conversations I may have had. added CEO Paul Thompson.
Teck Resources Limited announced today that it has issued a notice of redemption to redeem, on June 7, 2017, all of the approximately US$84 million principal amount of its 3.000% notes due 2019 and all of the approximately US$130 million principal amount of its 8.000% notes due 2021. Interest expense savings resulting from the redemption are expected to be approximately US$10 million per annum, on an after-tax basis. Teck expects to record an estimated net after-tax accounting charge of approximately US$19 million in connection with the redemption. The Bank of New York Mellon Trust Company, as trustee, has distributed the notice of redemption to registered holders of the Notes. Teck expects to fund the redemptions from cash on hand.
FIRST MAJESTIC SILVER CORP. is pleased to announce that it has reached a tentative agreement with the National Union of Miners, Metallurgists, Steelworkers and Similar Workers of Mexico, to restart operations at the La Encantada Silver Mine in the state of Coahuila, Mexico. In the coming weeks, the Company will undertake a phased restart of operations.
The net proceeds from the Placement are intended to fund the lithium exploration program that will be conducted on the Company’s lithium properties, the review and assessment of additional potential lithium mineral property acquisitions in South America, and general and administrative expenses and working capital.
Primero Mining Corp. today announced an update of activities at its operating mines, the San Dimas gold-silver mine located in Durango, Mexico and the Black Fox mine located near Timmins, Ontario, Canada. Primero continues to see operational improvements at both of its mines, and the Company remains on-track to achieve its 2017 production guidance of between 140,000 to 170,000 ounces of gold equivalent.
Pete Dougherty, President & CEO commented: Drilling results in both the North and South Target areas, along with the known wedges of economic mineralization that were unavailable to us prior to the Fresnillo concession purchase by reason of mineral concession boundary alone, indicate strong potential to expand the current pit limits and extend mine life. The positive drill results lend solid support for our acquisition of the Fresnillo concession and our vision of creating a meaningful, flagship asset at the El Castillo mining complex which will include the El Castillo and San Agustin deposits.
The net proceeds received by the Company are intended to be used to advance the Tuligtic Project through continued engineering, permitting activities and exploration drilling, as well as for general corporate and working capital purposes.
Sonoro Metals Corp. is pleased to announce that it has received the balance of the $4,000,000 proceeds from Agnico Sonora, S.A. de C.V., a subsidiary of Agnico Eagle Mines Limited, for the sale of the Companys Chipriona project in Mexico under an assignment agreement, details of which were disclosed in the Companys news releases dated December 14, 2016 and December 22, 2016.
Riverside Resources Inc. has regained a 100% interest in the Thor Copper Project, as the Companys joint-venture partner, a subsidiary of Antofagasta plc, has elected not to complete the C$5M in exploration expenditure required to earn a 65% interest in the Project. The Thor Copper Project is located in north-eastern Sonora along the main copper producing belt of Mexico. Riverside and Antofagasta completed an initial proof-of-concept drill program to test for a Laramide aged porphyry-intrusive system. The first four drill holes ever drilled at Thor confirmed the concept, with three of the four drill holes intersecting a large Laramide-aged porphyry style quartz-sericite-pyrite stockwork system. The initial drill holes did not return sufficient gold or copper assays for partner Antofagasta to continue, but the limited drilling that was completed was successful in hitting alteration and providing support for further exploration.
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