Endeavour CEO Bradford Cooke commented, Our second quarter production was an improvement over the first quarter thanks to higher tonnes and/or grades from the Bolañitos and El Cubo mines. The Guanaceví mine continued to lag behind plan and another internal review was initiated in order to better understand the new issues and possible resolutions.”
Golden Minerals President and Chief Executive Offier Warren M. Rehn commented, “We are very pleased to further cement Golden’s strategic relationship with Hecla through the extension of our lease agreement. Hecla’s investment in Golden demonstrates confidence in our future. Extending this lease will provide Golden with a steady stream of cash for the next three-plus years, which allows us to continue efforts on other development and exploration projects, including locating material to run through the oxide mill after the lease with Hecla concludes.”
“We made significant gains in the second quarter with record production and lower costs driving the highest combined free cash flow from our operations in years. We expect this trend to continue in the second half of the year with stronger production and lower costs driving strong free cash flow growth from our operations,” said John A. McCluskey, President and Chief Executive Officer.
“We maintained a strong financial position in the second quarter, with 43% lower capital expenditures and solid operating performance from Greens Creek and San Sebastian, with cash costs of $0.26 and under $10 AISC, both after by-product credits per silver ounce, offsetting Lucky Friday which remains idled due to the strike,” said Phillips S. Baker, Jr., President and CEO. “With the significant exploration discoveries at San Sebastian, we are now expecting to extend the life of that project through 2020. Performance of the three mines continues as planned. Higher grade and lower waste tons moved in the second half of 2017 at Casa Berardi should significantly impact production and cost per ounce.”
McEwen Mining Inc. today reported consolidated financial results for the second quarter ending June 30, 2017. Continued investments in exploration and project development, particularly related to the updated PEA on our Los Azules copper project and the advancement of our Gold Bar project towards construction, were the key features of the quarter. As a result, the Company reported a net loss of $1.7 million or $0.01 per share and negative cash flow of $4.1 million or $0.01 per share.
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.
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