“Alamos is once again debt-free and will benefit from substantial interest savings over the next several years with the retirement of these Notes. We have significantly strengthened our balance sheet and are well positioned to fund our portfolio of attractive internal growth opportunities,” said John A. McCluskey, President and Chief Executive Officer.
Westminster Resources Ltd. announces that its board of directors has approved a resolution consolidating the Company’s issued and outstanding common shares on the basis of one new common share for every ten existing common shares. Currently, the Company has 44,288,292 common shares issued and outstanding, and upon consolidation, there will be approximately 4,428,829 common shares issued and outstanding. The board of directors believes that the consolidation will help the Company complete future financings and advance its projects.
Plata Latina Minerals Corporation is pleased to announce that, it has received all necessary approvals from its shareholders and the TSX Venture Exchange with respect to the option agreement on its “Naranjillo” property previous announced on February 8, 2017, and is now ready to close on the transactions contemplated thereunder.
Since September 15, 2016, when Marlin began consistently mining the high grade HS Zone, the Company has stacked 79,302 ounces of gold with 19,844 coming in 1Q17 alone. The tonnes stacked in 1Q17 had an average grade of approximately 1.74 grams per tonne. In addition, Marlin has an approximately 185,000-tonne stockpile of mineralized material remains with an average grade of approximately 0.80 grams per tonne. Management expects to process grades similar to the average stockpile grade as we accelerate mining to reach the southern part of the high grade HS Zone by the end of 2Q17. This is an improvement to prior estimates of reaching the southern part of the HS Zone by 3Q17.
Bradford Cooke, CEO of Endeavour Silver, commented, We look forward to getting the green light to develop Terronera into our fifth mine. The main mineralized zone is relatively shallow, steeply dipping, thick and high grade, which at todays metal prices should generate reasonably robust economic returns. The two-stage development plan starts at 1,000 tpd and expands to 2,000 tpd, which allows us to finance and build a smaller mine, then expand it once the mine is generating positive cash flow. We consider the exploration potential to make new discoveries and expand the resources at Terronera to be very good.
Brian Robertson, Chairman and CEO of Source Exploration, commented, We have achieved significant progress with the drilling program due to the high proficiency of the KDL drilling crew and our geological team and support contractors at site. This drilling program will allow us to complete an initial mineral resource estimate as well as identify prospective targets for additional work.
Kootenay President and CEO James McDonald states, We are very pleased with results from the final holes of our 2016 drilling program on La Negra with Pan American Silver. The consistent confirmation of multiple zones of high-grade silver mineralization within a 600-meter strike length of the breccia, remaining open at depth, supports further work on the Promontorio/La Negra project. Upcoming exploration and drilling by Pan American Silver will focus on defining the potential size of the magmatic hydrothermal silver-lead breccia and testing additional targets.
Primero Mining Corp. announced today that, further to its news release dated March 24, 2017, it has closed the extension of the maturity of its $75 million revolving credit facility with its syndicate of lenders. The RCF will now mature on November 23, 2017 and will exclude financial covenants until the extended maturity date. The RCF continues to be secured by a charge over substantially all of the Company’s assets and is now guaranteed by Silver Wheaton for a fee of $2.6 million payable at maturity. Today, Primero drew down $10 million from the RCF, which now has $60 million drawn. An additional $15 million remains available for drawdown, subject to Silver Wheaton’s consent, unless the proceeds are used solely in connection with the restart of the San Dimas operations.
Enel S.p.A., a través de su subsidiaria de renovables en México, Enel Green Power México, comenzó los trabajos de construcción de su planta de energía solar fotovoltaica Villanueva de 754 MW en Viesca, en el estado de Coahuila. Villanueva es la planta solar fotovoltaica en construcción más grande del continente americano y el proyecto solar más grande de Enel en todo el mundo.
Golden Minerals Company announces that Minera Hecla S.A. de C.V. has exercised its right to extend the lease of Golden’s oxide mill in Durango State, Mexico for an additional 18 months, through December 31, 2018. Additionally, Golden announces its filing of the National Instrument 43-101 compliant mineral resource estimate for the Santa Maria silver and gold project, under slightly amended terms from those announced in February 2017.
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