Mexican authorities will investigate an incident at a gold mine in the Pacific coastal state of Guerrero which killed three workers, President Claudia Sheinbaum said on Friday.
Silver Tiger Metals has filed a Preliminary Feasibility Study (PFS) for its El Tigre Silver-Gold Project in Sonora, Mexico, highlighting a 10-year mine life with an after-tax NPV of $222 million, a 40% IRR, and a two-year payback period. The project is set to produce 43 million silver-equivalent ounces, with initial capital costs of $86.8 million and an average annual production of 4.8 million AgEq ounces, supported by proven and probable reserves.
“We are devastated by the deaths of these colleagues who were working at ELG Underground. While the details are very limited at this time, we do know that a 32-year old male, a 36-year old male and a 39-year old male have lost their lives to carbon monoxide exposure. Our priority right now is to fully support their families and our people, as we start the work to understand how this occurred.”
“For Q2 of fiscal 2025, Major Drilling’s globally diversified operations and reputation as the driller-of-choice enabled us to maintain our revenue run rate relative to fiscal Q1, despite challenging conditions in certain markets,” commented Mr. Denis Larocque, President & CEO of Major Drilling. “We were pleased once again by our Australasian and Chilean operations, which continue to offset lower activity levels in North America, primarily driven by lower junior exploration expenditures.”
Minera Alamos Inc. is pleased to announce the closing of its previously announced “bought deal” private placement, with National Bank Financial Inc. as lead underwriter and bookrunner, and on behalf of a syndicate of underwriters pursuant to which the Underwriters purchased 28,333,000 common shares of the Company at a price of C$0.30 per Common Share, with a right to arrange for substituted purchasers, pursuant to the listed issuer financing exemption for aggregate gross proceeds to the Company of C$8,499,900.
Osisko Development Corp. is pleased to announce the appointment of Mr. Stephen Quin, a seasoned mining executive, as independent director to the Company’s board of directors effective immediately.
Ernesto Balarezo, CEO of Sierra Metals, comments, “We are very excited to have reached full capacity levels in Yauricocha, allowing us to operate at higher throughput rates. The latter is reflected in the increased metal production and stronger cost guidance. At Bolivar, we also expect to operate at full capacity throughout the year, despite lower projected grades due to our mining sequencing plan.”
We are very pleased and proud to announce the addition of Ramon Tomas Dávila Flores as non-executive director with immediate effect to Heliostar’s board of directors. Mr. Dávila was most recently President of Guanajuato Silver Co. Ltd.
Scott Emerson, President commented: “There exists the potential of blind mineralization at Saddle. The identification of the Saddle target adds to its priority as a drill target. Other reported examples of significant blind mineralization are the Pensquito (Zacatecas) operated by Newmount and Cerro Las Minitas(Durango) project operated by Southern Silver in Mexico.”
The purpose of the Meeting is to receive and consider the audited annual financial statements of the Company; re-appoint Davidson & Company LLP as auditor of the Company; authorize the directors to fix their remuneration; elect the directors for the ensuing year; approve the continuation of the Company’s stock option plan; and to consider other business as may properly come before the Meeting or any postponement(s) or adjournment(s) thereof.
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