First Majestic Silver Corp. is pleased to announce the updated Mineral Reserve and Resource estimates for its portfolio of properties in Mexico as of December 31, 2013. The mineral Reserve and Resource estimates were calculated using US$24.00 per ounce silver, US$1,400 per ounce gold, US$0.95 per pound lead and US$0.90 per pound zinc.
Sierra Metals Inc. is pleased to announce an updated silver resource estimate on its Cusihuiriachic property, Chihuahua State, Mexico. These resources are in two areas of the Cusi Mine currently in commercial production, Promontorio and Santa Eduwiges, as well as in other mines where the Company is doing underground development, such as La Gloria/Minerva, Monaco/Milagro and others. This resource estimate was prepared by Gustavson Associates, LLC of Lakewood, Colorado.
Bearing Resources Ltd. is pleased to announce that it has received notice from Newmont de Mexico, S.A. de C.V., a wholly owned subsidiary of Newmont Mining Corporation, that it plans to commence drilling on Bearing’s Pedro property in Durango Mexico this week. Newmont is exploring the Company’s wholly owned Pedro gold project in Durango, Mexico under an option agreement dated September 24, 2013 and plans to drill 600 metres of core and 2,400 metres of RC. Since signing the September agreement, Newmont has completed soil sampling in the gap area between the main Pedro grid and the smaller Pedro north grid where Bearing discovered extensive hydrothermal alteration and anomalous gold in rocks and soils. Newmont also completed a wide-spaced CSAMT geophysical survey over the anomalous area. CSAMT is a ground based geophysical system capable of estimating bedrock resistivity at depth and which could potentially detect silicified structures or horizons.
BACANORA MINERALS LTD. announced today that Rare Earth Minerals, Plc has satisfied all conditions under the terms of the joint venture agreement between Bacanora and REM in respect of the San Gabriel, Buenavista and Megalit concessions (details of which are set out in the Company’s press release dated March 12, 2014) to earn a 10% interest in the subsidiary that will hold the Concessions (Minera Megalit S.A. de C.V.). In particular, REM has provided the Company with an upfront cash payment of $250,000, together with a further $500,000, which has been allocated towards exploration and drilling on the Concessions. With this condition having been satisfied, the Concessions are now in the process of being transferred to Minera Megalit S.A. de C.V., following which shares therein will be issued to REM.
Operating cash flow1 of $66,847 for the year ended December 31, 2013 compared to $38,317 for the year ended December 31, 2012;
Net sales revenue for 2013 increased by 8% over 2012. Gold sales and copper concentrate sales revenues increased by 7% and 11% over 2012, respectively;
Gold ounce (“oz”) production for 2013 was 19% higher than in the prior year and Aranzazu’s copper production for the years ended December 31, 2013 and 2012 was 13,615,949 pounds and 10,980,100 pounds, respectively, an increase of 24%;
Excellon Resources Inc., Mexico’s highest grade silver producer, is pleased to report an updated mineral resource estimate (as at December 31, 2013) on its 100%-owned Platosa Mine in Durango State, Mexico.
Gold Resource Corporation declares its monthly instituted dividend of 0.01 per common share for March 2014 payable on April 23, 2014 to shareholders of record as of April 11, 2014. Gold Resource Corporation is a gold and silver producer with operations in the southern state of Oaxaca, Mexico.
Endeavour Silver Corp last month shared its latest National Instrument 43-101(NI 43-101) silver and gold reserve and resource estimates for its silver producing mines in Mexico as of 2013 end. The companys management anticipating metal prices will likely be higher in the medium and longer terms the price tagged were 10% higher at US$1452 per oz gold and $24.20 per oz silver for the resource estimates. During 2013, the companys Silver Proven and Probable Reserves were 11.6 million ounces witnessing a decrease of 50%. Gold Proven and Probable Reserves saw a dip by 37% reporting at 139,400 ounces. Silver Equivalent Proven and Probable Reserves reduced by 41% to 25.9 million oz. Silver Measured and Indicated Resources increased by 4% at 60.7 million oz. Gold Measured and Indicated Resources went up 6% to 556,300 oz. Silver Inferred Resources decreased by 13% to 40.6 million oz. Gold Inferred Resources also dipped by 15% to 396,320 oz. According to the companys CEO Bradford Cooke, CEO, due to low precious metal prices, Reserve and resource growth impacted companys operational and financial results.
Primero Mining Corp. announced today that it has closed the previously announced secondary offering of Primero shares held by Goldcorp Inc. A total of 31,151,200 Primero common shares held by Goldcorp were sold at an offering price of C$7.20 per share. The Offering was completed through a syndicate of underwriters led by Canaccord Genuity Corp. and including CIBC World Markets Inc., GMP Securities L.P., RBC Dominion Securities Inc., Scotia Capital Inc. and TD Securities Inc.
Goldcorp Inc. is pleased to announce that it has completed the previously announced secondary offering of 31,151,200 Common Shares of Primero Mining Corp. at a price of C$7.20 per share for gross proceeds to Goldcorp of approximately C$224 million. The underwriting syndicate was led by Canaccord Genuity Corp. and included CIBC World Markets Inc., GMP Securities L.P., RBC Dominion Securities Inc., Scotia Capital Inc. and TD Securities Inc. Goldcorp no longer owns any shares of Primero. Primero did not receive any proceeds from the offering.
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