Santacruz Silver Mining Ltd. announces that the Company has agreed in principle to terms whereby it will receive US$9.5 million under a senior secured loan facility with a lender syndicate headed by CrediPresto Group and including two other institutions.
Fred Davidson, President and CEO, stated, “Our production performance during the third quarter 2015 continues to demonstrate IMPACT Silver’s success and viability as a proven explorer and producer. With nearly a decade of production history, this quarter we generated some of the highest grades in the Company’s history at 214 g/t silver. In combination with stringent cost controls and improving grades, we achieved positive operational cash flow and positive EBITDA of $0.6 million this quarter. Despite lower silver prices persisting in 2015, our focus on profitability and higher grade zones of silver at San Ramon and Mirasol continue to keep IMPACT as a self-sufficient and enviable producer in the Mexican silver space….”
Starcore International Mines Ltd. announces that the Board of Directors has approved a resolution consolidating the Company’s share capital on the basis of every four shares of the Company being consolidated to one share.
All matters tabled for consideration, as outlined on the Company’s Notice of Annual General Meeting, were unanimously approved at the Meeting. A brief list of the most important items of business conducted at the Meeting are as follows:
Millrock President & CEO Gregory Beischer commented: Using the geological database we gained through the purchase of Paget Southern Resources in 2014, and through the knowledge, experience and effort of our Mexico exploration team, Millrock has been able to generate another excellent suite of mineral claims at very low cost. We plan to move these early-stage projects along through our development pipeline and secure funding partners when potential is clearly demonstrated.
This 40 page report describes the history of our Michoacan, Mexico property as well as geology and geologic history of its mineralization. It discusses in detail the resource estimate based upon the 2015 drilling campaign which primarily focused on the Main Zone and areas surrounding the Main Zone. It also incorporates the previous drilling campaigns of 2008 and 2010 (a total of 11,300 meters of core was drilled in these three campaigns) along with other historical data. The Report further summarizes ten mineralized zones recognized in the 2200 meter (1.367 mile) strike length.
BACANORA MINERALS LTD., the Canadian and London listed lithium and borates company, is pleased to report an updated Mineral Resource estimate for the Sonora Lithium Project in Mexico, which has seen its Indicated Minerals Resources increase by over 300% to 5 million tonnes of lithium carbonate equivalent. In addition, the Project’s Inferred Mineral Resource has been estimated as a total of 3.9 Mt of LCE contained within the deposit.
Rare Earth Minerals Plc has today reported an updated Mineral Resource estimate for the Sonora Lithium Project in northern Mexico, which has seen its Indicated Mineral Resources increase by over 300% from 1.1 million tonnes to 5 million tonnes of lithium carbonate equivalent. In addition, the Projects Inferred Mineral Resource has been estimated as a total of 3.9 Mt of LCE, increasing the overall Indicated and inferred resources from 7.4 Mt LCE to 8.8 Mt LCE.
A$5.22 million placement to underpin resource drilling and pre-feasibility work
Significant support from major North American institutions
Substantial shareholder Mr Mark Creasy continues support with a further A$1 million investment
Millrock President & CEO Gregory Beischer commented, For this strategic financing which will be used to acquire several high-potential projects we were approached by a group of financiers that have previously invested in Millrock. While we are cognizant of the dilution this strategic financing will cause, we believe that the property acquisitions that we intend to make with the proceeds of this financing will ultimately pay off for all Millrock shareholders.
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