Mexican lithium miner Bacanora Minerals Ltd began trading at a significant premium following its new AIM listing in London, being quoted at almost three times its IPO price by midday Friday.
Oceanus Resources Corporation is pleased to announce the closing of the previously announced non-brokered private placement and that it has issued 8,000,000 common shares at a price of $0.35 per share for aggregate proceeds of $2,800,000.
Sierra Metals Inc. is pleased to announce the appointment of Audra Walsh as Chief Executive Officer and President, effective July 28, 2014.
Teck Resources Limited reported second quarter adjusted profit attributable to shareholders of $72 million, or $0.13 per share, compared with $197 million or $0.34 per share in 2013. Profit attributable to shareholders was $80 million, or $0.14 per share, compared with $143 million, or $0.25 per share, a year ago.
CANGOLD LIMITED reports that it has received final approval from the TSX Venture Exchange on the previously announced transaction for the option to acquire up to a 100% interest in the mining rights to the Guadalupe de los Reyes Gold-Silver Project in Mexico and the non-brokered private placement financing.
Mexus Gold US announced today that it has signed an agreement with North Pacific Gold Inc. for cable salvage, surveying, and mapping of off shore cable in the State of Alaska. North Pacific has a 100′ vessel equipped with heavy lifting capabilities and support equipment that is perfect for surveying, mapping, and sampling operations in the offshore waters of Alaska. Mexus will contribute support, knowledge, and stored cable equipment to North Pacific. In exchange, Mexus will receive 11% of any cable that might be recovered by North Pacific from 8/4/2014 thru 8/4/2020. North Pacific is headed up by Paul Thompson Jr. who has worked tirelessly to provide the vessel and other logistical support to make this operation possible. This agreement allows Mexus to benefit from the off shore cable salvage program yet stay focused on its Julio/Santa Elena Mexico mining operation. Paul Thompson Sr, CEO of Mexus Gold US, stated, “I want our shareholders to understand that this vessel was funded by outside parties and doesn’t affect our plans in Mexico.”
James R. Moffett, Chairman of the Board; Richard C. Adkerson, Vice Chairman, and FCX President and Chief Executive Officer; and James C. Flores, Vice Chairman, and FM O&G President and Chief Executive Officer, said, “Our second-quarter results reflect continued strong operating performance in our North America, South America and Africa mining operations and from our oil and gas operations, partly offset by the effects of reduced output from Indonesia. We are encouraged by our discussions with the Indonesian government toward reaching a near-term agreement to enable resumption of PT Freeport Indonesia’s copper concentrate exports. During the quarter, we completed a $3.1 billion sale of our Eagle Ford shale assets and acquired additional interests in our Deepwater Gulf of Mexico focus area. We also commenced copper production from our expanded Morenci operation and achieved important progress in our mining and oil and gas development projects to provide future growth in production, cash flows and attractive investment returns. We remain focused on our opportunities to increase value for shareholders through the development of our large resource base, effective management of our operations, prudent capital and balance sheet management, and providing attractive cash returns to shareholders.”
Pan American Goldfields Ltd is pleased to announce that the Judge of the Eighth Civil Court of the Morelos Judicial District has ruled in favor of Sunburst Mining de México SA de CV, a wholly-owned subsidiary of the Company, to force MRT to fulfill all its contractual obligations despite the lawsuit (mercantile ordinary procedure) filed by Corporativo Minero with the Second Civil District Court of the Morelos District, Chihuahua. According to the production agreements between MRT and Sunburst Mining de México SA de CV / Pan American Goldfields Ltd, MRT has to pay Sunburst de México the money owed to it for the production of the last quarter of 2013 and provide monthly and quarterly financial reports of the operation and audit the books of the operation on an annual basis and cooperate and act in good faith to assist Pan American Goldfields with its disclosure and audit requirements.
Gold Resource Corporation reports preliminary production results for the second quarter ended June 30, 2014 of approximately 24,170 ounces precious metal gold equivalent. Gold Resource Corporation is a gold and silver producer with operations in southern Mexico. The Company has returned over $98 million to shareholders in monthly dividends since declaring production July 1, 2010, and offers shareholders the option to convert their cash dividends into physical gold and silver and take delivery.
Grupo Mexico, one of the world’s largest copper producers, is nearing a deal to acquire Mitsui & Co.’s 25% stake in the Silver Bell copper mine in Arizona for about $120 million, according to people familiar with the matter.
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