Luca Mining Corp. is pleased to announce the hiring of a highly experienced geological team to execute the Company’s ambitious exploration strategy at both Tahuehueto and Campo Morado.
Thomas Atkins, President and CEO of Mammoth Resources commented on the Valesco exploration target study, stating: “It’s interesting and a welcome confirmation to see an independent study arrive at a similar target for further exploration to that which Mammoth determined from its own study of this target. This independently studied target similarly exceeds a million ounces of gold equivalent mineralization in the shallow to near-surface, oxidized-sulfide/transition zone mineralized horizon at Tenoriba.”
Minera Alamos Inc. is pleased to announce that it has entered into an agreement with National Bank Financial Inc. as lead underwriter and bookrunner, and on behalf of a syndicate of underwriters pursuant to which the Underwriters will purchase 28,333,000 common shares of the Company at a price of C$0.30 per Common Share, on a “bought deal” private placement basis, with a right to arrange for substituted purchasers, pursuant to the listed issuer financing exemption, for aggregate gross proceeds to the Company of approximately C$8.5 million.
James Anderson, Chairman & CEO, said, “Our exploration programs continue to align with our production goals as we look to use our exploration successes to support our mid to long-term production growth. The district scale potential of the substantial Veta Madre system in Guanajuato remains the focus of our efforts; we are privileged to have the opportunity to run advanced exploration programs within the heart of one of Mexico’s richest silver mining camps.”
Endeavour Silver Corp. is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets, pursuant to which the Underwriters have agreed to buy on a bought-deal basis 15,825,000 common shares of the Company at a price of US$4.60 per Common Share for aggregate gross proceeds of approximately US$73 million.
In accordance with Provision 4 of the UK Corporate Governance Code, the Company hereby provides an update on the actions taken in response to the level of votes cast against one of the resolutions (resolution 9) proposed at the Company’s Annual General Meeting held on 21 May 2024.
Greg McKenzie, President and CEO, commented: “We are pleased with the high-grade results from the La Estrella and San Rafael Zones. High-grade mineralization can be traced at La Estrella over a strike length of 225 m, vertical extent of 175 m, and true thickness of up to 6 m. Limited mining was previously conducted by First Majestic within these zones, and they were not included in the August 2023 Resource Estimate.”
The Company does not currently have sufficient resources to meet its expected cash needs during the twelve months ending September 30, 2025. At September 30, 2024, the Company had current assets of approximately $2.5 million, including cash and cash equivalents of approximately $1.8 million. On the same date, it had accounts payable and other current liabilities of approximately $4.5 million, which includes $1.0 million in deferred revenue for the sale of the Velardeña oxide plant and water wells.
“Exiting the third quarter, it was clear the operational changes the Company has been implementing at San Jose de Gracia are being reflected in strong results, notably the month over month production gains in October 2024,” stated Rohan Hazelton, President & CEO DynaResource.
“After extensive consultation with our shareholders, the decision was made not to move forward with the Prospector transaction and return to our company roots in mineral exploration” commented Cameron Tymstra, Tarachi President and CEO.
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