Fred Stanford, President and CEO of Torex said: “With construction at 60% complete at the end of April and with mining ahead of schedule with 700,000 tonnes in stock pile, we are well on track for our first gold pour by the end of this year. A total of 1,200 direct construction workers are currently at the main processing plant site and approximately 3,000 workers are involved in the project site as a whole…
MAG Silver Corp. announces the Company’s unaudited financial results for the three months ended March 31, 2015. For complete details of the first quarter unaudited Condensed Interim Consolidated Financial Statements and related Management’s Discussion and Analysis, please see the Company’s filings on SEDAR (www.sedar.com) or on EDGAR (www.sec.gov). All amounts herein are reported in United States dollars unless otherwise specified.
Production and costs during the first quarter were a marked improvement from the fourth quarter of 2014, stated Brendan Cahill, President and Chief Executive Officer. We continue to identify further opportunities to reduce costs, particularly on electrical and maintenance at the mine and on corporate G&A. Our primary focus right now is on the planning and implementation of the long-term optimization plan for Platosa, with a preliminary economic assessment on the plan scheduled to be released during this quarter.
The Korea Resources Corp., the state-run mineral resources developer, has been successfully producing copper at its processing plant in northwestern Mexico, company officials said Thursday.
Kootenay Silver Inc. is pleased to announce that it has entered into an option agreement through its wholly owned Mexican subsidiary, Minera J.M. with Oro de Altar a wholly owned Mexican subsidiary of AuRico Gold Inc. The option allows ODA to earn up to 100% interest in the San Diego property located in northern Sonora State, Mexico. The project is one of Kootenay’s Generative properties and was acquired by MJM in 2014 under an option agreement, giving MJM the right to acquire an undivided 100% interest.
BIG NORTH GRAPHITE CORP. is pleased to announce that it intends to complete a non-brokered private placement of up to 7,000,000 units at a price of $0.07 per Unit, for gross proceeds of up to $490,000. Each Unit will consist of one common share and one half common share purchase warrant. Each full Warrant will entitle the holder thereof to purchase one Share at an exercise price of $0.10 for a period of 24 months following the closing of the Offering.
Mark Brennan, President and CEO of Sierra Metals, commented: The Companys exceptional production and low production costs helped mitigate a downturn in metal prices during the first quarter. We were still able to achieve strong revenues and operating cash flows to further strengthen our balance sheet and financial outlook. The continued production growth at our three operating mines provides Sierra with a strong outlook for the remainder of 2015.…
J. Scott Drever, Chief Executive Officer, stated; “We are pleased with the strong start to 2015. Santa Elena’s record AgEq production delivered solid Q1, 2015 financial results, generating cash flow from operations of $7.3 million and net earnings of $2.5 million. We are confident in Santa Elena’s ability to continue to generate positive cash flows during 2015, notwithstanding the lower precious metals price environment…
BACANORA MINERALS LTD., the Canadian and London listed lithium and borates company focussed on Mexico, is pleased to announce that it has updated the Mineral Resource Estimate for its lithium properties, consisting of its 100 percent owned La Ventana lithium concessions, El Sauz and Fleur concessions which are held by Mexilit S.A. de C.V. and the Megalit concession, which is held by Megalit S.A de C.V Mexilit and Megalit are owned 70 percent by Bacanora and 30 percent by Rare Earth Minerals PLC. The MRE was carried out by SRK Consulting Limited, an independent consultant.
Almaden Minerals Ltd. announces that an independent NI 43-101 Technical Report, for its copper-gold El Cobre Project, Mexico, has been completed and filed on SEDAR. Almaden holds a 100% interest in the Project subject to a sliding scale royalty payable to a third party.
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