The Company intends to use the net proceeds of the Offering, together with the Company’s current cash resources, to fund operating, development and exploration expenditures at its mining operations and projects, for possible future acquisitions and for general corporate and working capital purposes.
Orex’s President, Gary Cope says, “As we look forward to the results of metallurgical testing and the initial resource estimate, we are pleased that diamond drilling is once again underway on Sandra Escobar.”
With the closing of the sale of Oro Silver in the 2nd quarter to Endeavour Silver, Canarc is now in its strongest financial position in twenty years, with approximately $6 million in cash and $6.5 million in Endeavour shares (based on the recent Endeavour share price). The enhanced treasury allows the Company to expand its growth strategies and pursue larger M&A opportunities in order to create additional value for shareholders.
We delivered a solid second quarter with total production coming in-line with our guidance, said Keith Neumeyer, President & CEO. I am most pleased to see the grade and recovery increases at Del Toro following improvements in dilution control and the implementation of a flash-flotation approach within the processing plant. In addition, the La Encantada plant resumed normal operations in early May following mechanical modifications to the crushing and grinding areas. These modifications required a temporary mechanical delay which resulted in lower milling rates throughout most of April. At Santa Elena, the operation continues to exceed our production expectations largely in part due to the continued success in mill optimization. As a result, metallurgical recoveries of silver at Santa Elena achieved a new quarterly record of 89% during the second quarter.
Fortuna Silver Mines Inc. is pleased to announce second quarter production figures from its two operating mines in Latin America, the San Jose Mine in Mexico and the Caylloma Mine in Peru. The company produced 1.6 million ounces of silver and 9,365 ounces of gold plus base metal by-products. Silver and gold production for the first six months of the year totaled 3.2 million and 18,629 ounces respectively; being 7 percent and 10 percent above the company’s mid-year projection. Fortuna’s production guidance for 2016 is 7.0 million ounces of silver and 42.8 thousand ounces of gold or 9.6 million ounces of Ag Eq.
“We are pleased to welcome Orex Minerals Inc. to our OTCQX Best Market,” said Jason Paltrowitz, Executive Vice President of Corporate Services at OTC Markets Group. “Upgrading to OTCQX will allow Orex Minerals to broaden its visibility with new investors through transparent trading, convenient access to its news and financial disclosure and dedicated capital market support.”
After dropping below $14 USD per ounce in January following a five-year decline, silver prices have been going from strength to strength in 2016, nudging $20.40 USD per ounce as of July 11. Whether you call it tenacity or just plain stubborn, the silver explorers and miners who have stuck it out in Mexico, the number one silver-producing country in the world, are emerging from the dark days of the downturn with renewed enthusiasm.
Maverix Metals Inc. and Pan American Silver Corp. are pleased to announce the closing of the previously announced plan of arrangement pursuant to which Maverix acquired 13 royalties, precious metals streams and payment agreements from Pan American.
Amato Exploration Ltd. announces the results of its Annual General Meeting held on June 30 th, 2016 in Toronto, Ontario and the results of the Scrutineer. At the Meeting, shareholders approved all resolutions put before them by management including setting the number of directors at four, the election of all director nominees, the appointment of the auditors, and providing annual approval of the 2008 Stock Option Incentive Plan.
Aeromao is a manufacturer of Unmanned Aerial Vehicles (UAV) used for survey and mapping purposes. Aeromao has quickly grown into a leader in the industry with their UAVs. Aeromao has sold their proprietary line of Aeromapper UAVs to clients operating in every continent – and approximately 50 countries in total.
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