With the close of this equity financing, the Company is now working to complete the definitive agreement with Marlin Gold Mining Ltd. whereby Canarc will acquire 100% of the shares in Marlins wholly owned subsidiary company, Oro Silver Resources Ltd., which owns the fully permitted El Compas Gold-Silver Mine Project in Zacatecas, Mexico.
Endeavour Silver Corp. announces that infill drilling on the Terronera property in Jalisco State, Mexico continues to define high grade, silver-gold mineralization within the Terronera vein system. The main mineralized zone extends over 1,400 metres in length, and is still open along strike to the southeast and down dip.
Arian Silver Corporation, a silver mining company focused on silver projects in the silver belt of Zacatecas, Mexico, announces today the positive advancement of its financing discussions and the signing of a letter of intent and non-binding term sheet with Quintana AGQ Holding Co. LLC , approved by the independent directors of the Company.
Marlin Gold Mining Ltd. announces that as a result of heavy rains in September, the La Trinidad gold mine has sustained damages. Among them was the dewatering equipment located within the pit, including pumps, electrical equipment and generator power source to the pump. As a result of the damage to our dewatering equipment within the pit, the pit has taken on water. All other equipment and infrastructure at the mine remains operational.
NWM Mining Corporation announces that today it has received Court approval to the two amendments to the Arrangement Agreement dated June 6, 2015 with SFM Holding, S.A.P.I. DE C.V, GFM Minería, S.A.P.I. DE C.V and Global Resource Fund. The arrangement is expected to close the week of September 21, 2015 at which time GFMM will acquire all of the issued and outstanding common shares of NWM for cash consideration of C$0.005.
Agnico Eagle Mines Limited is pleased to provide an update on exploration drilling results at its El Barqueno gold project in Jalisco State, west-central Mexico, and an update on exploration activities at the Creston Mascota deposit at Pinos Altos (“Creston Mascota”) and the La India mine in northern Mexico.
A niche form of mining industry finance is emerging as the new go-to funding for miners bowed by debt, another sign of the sector’s distress as it plods through the fourth year of a commodities’ downturn.
“We are very pleased with the early results from our exploration programs at Cerro Pelon and La Yaqui with step-out drilling indicating the potential to expand the mineral reserve and resource base at both deposits. These satellite deposits are expected to provide our lowest cost production at Mulatos and are a significant source of near term production growth. These remain our highest priority exploration targets at Mulatos. Following up on the strong results to date, we are adding additional rigs to target these new zones of mineralization through the end of this year,” said John A. McCluskey, President and Chief Executive Officer.
Torex Gold Resources Inc. is pleased to announce that its 100% owned subsidiary Minera Media Luna, S.A. de C.V. has signed a letter of intent with the Ministry of Public Safety of the State Government of Guerrero, endorsed by the Federal Government, for the provision of permanent police presence in the areas adjacent to the Company’s Morelos Gold Property in southwest Mexico.
I’m pleased to report that the Company’s strategy of investing actively in the lithium and rare earth elements sectors is starting to show solid growth, driven by the ever-increasing global market’s focus on these sectors and REM’s focus with its Joint Venture Partner on the development of the Sonora Lithium Project in northern Mexico.
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