Cayden Resources Inc. announces the results from its thirteen hole core drilling program at the La Magnetita East target on its Morelos Sur Concession located in Guerrero State, Mexico. Eleven of thirteen drill holes intercepted significantly anomalous skarn mineralization hosted in a contact zone between limestone and a large magnetic granodiorite stock.
Gold Resource Corp (NYSE MKT:GORO) reported Friday that second quarter production at its Mexico operations rose 42 per cent year-over-year as cash costs increased and realized prices dropped in line with the mining industry, though the company said it expects production costs to drop as it benefits from higher mill throughput in the future. It also addressed a recent sellof by one of its largest shareholders, opining that the sale of its stock had nothing to do with the company, but rather with the current lackluster mining environment.
Sierra Iron Ore Corp. is pleased to announce the results of the annual general meeting of shareholders that was held on August 9, 2013. The meeting was well attended with over 25% of the outstanding shares voted.
In an earlier article, we went over the true all-in costs to mine an ounce of gold in Q1FY13 and discussed one of the most important metrics to analyze the gold industry – the actual cost of mining an ounce of gold, which can help an investor figure out whether it is time to buy GLD and/or the gold miners. In that analysis, we used FY2012 financials to calculate the combined results of publicly traded gold companies and came up with a true all-in industry average cost of production to mine each ounce of gold.
In this article, I’ll have a look at Torex Gold Resources (TORXF.PK), a near-term gold mine developer in the Guerrero Gold Belt in Mexico, approximately 180 km south of Mexico City. The company is planning to develop its 5Moz+ gold mine at the El Limon zone of its 29,000 hectare Morelos project. This project is expected to cost $675M and was originally planned to start production in Q1 2015. In this article, I’ll have a closer look at the El Limon Bankable Feasibility Study, run some numbers on the expected annual cash flow and talk about the risks, as Torex Gold needs to relocate a village. This will result in my investment thesis at the end of this article.
Brigus Gold Corp. today reported financial results for the second quarter ended June 30, 2013.
Camino Minerals Corporation has received final assay results from the recently completed diamond drill campaign at the El Secreto Gold and Silver Project located in Sinaloa State, Mexico. Camino drilled a total of 2,984 metres in 13 holes between the months of April and July. Seven different targets, including epithermal and mesothermal vein systems and porphyry targets, were tested within a 54 square kilometre area.
Red Tiger Mining Inc. is pleased to announce that an updated Independent Technical Report for resource and reserve disclosure on the Company’s wholly owned San Antonio Properties in Sonora, Mexico, in accordance with NI 43-101 reporting standards has been filed on SEDAR.
Fortuna Silver Mines Inc. today reported revenue of $30.1 million, cash generated from operations, before changes in working capital of $5.9 million and a net loss of $10.6 million in the second quarter of 2013 reflecting a non-cash pre-tax impairment charge of $15.0 million. The non-cash impairment charge is related to the impact of declining silver prices on the carrying value of the Caylloma mine in Peru.
Mercator Minerals Ltd today announced its financial results for the three months and six months ended June 30, 2013. During the second quarter 2013, the Company generated revenues of $64.2 million, cash flow from operations of $3.8 million, and net income of $8.8 million, or $0.03 per share. On an adjusted net earnings basis, after adjusting for certain non-cash items, the Company reported a net loss of $10.7 million, or $0.03 per share.
Mexico Mining Center © 2021 / All Rights Reserved
