AuRico Gold Appoints Non-Executive Chairman

AuRico Gold Inc. today announced the appointment of Mr. Alan Edwards as non-executive Chairman of the Board effective July 1, 2013. Mr. Edwards was appointed as an independent director on May 13, 2010 and has served as Chair of the Sustainability Committee.

Capstone Mining Reports 2012 Year End Financial Results

Capstone Mining Corp. today announced its financial results for the year ended December 31, 2012. Net earnings for the year were $59.6 million and operating cash flow before changes in working capital was $114.4 million. Net earnings for the fourth quarter were $18.5 million and operating cash flow before changes in working capital was $24.7 million. Capstone ended the year with cash on hand of $499.9 million, a $200 million credit facility and no long-term debt. Copper production for the year at Capstone’s two operating mines, Cozamin and Minto, totalled 82.8 million pounds in concentrates (79.6 million pounds of payable copper) at a total cash cost of $1.50 per payable pound of copper produced.

Aurcana Announces $50 million Loan Facility

Aurcana Corporation is pleased to announce that it has accepted an indicative terms sheet from RK Mine Finance, part of the Red Kite Group, one of the largest metal merchants in the world, for an unsecured 3 year loan facility of $50 million and silver Offtake Agreement for the silver produced at the Shafter mine.

Goldgroup Announces Appointment of Keith Piggott as President & CEO

Goldgroup Mining Inc. announced today that its Board of Directors has appointed Chairman & Director, Mr. Keith Piggott, as President and Chief Executive Officer, replacing Dr. Hans von Michaelis. Dr. von Michaelis has resigned as the Company’s President and CEO to pursue other business interests but remains a committed member of its Board of Directors. Mr. Piggott has a proven track-record of operating companies efficiently through difficult economic times and is also the Company’s largest shareholder.

Guerrero Exploration Inc. (TSX: V.GEX) was up 4.4% to 12 cents.

The stock is reacting to news that the junior explorer had received the title certificates for its 100% owned Cibola and Coatepec concessions, and expects the Olinala concession to be granted in the coming months. Collectively, the three concessions overlap a combined surface area of 137,546 hectares in the Mixteca Terrane of eastern Guerrero State, Mexico. The company expects that exploration of these concessions will start in the fall of 2013.

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