American Consolidated Minerals Corp. reports that at its Annual General Meeting held on December 13, 2013, shareholders elected Messrs. Robert Eadie, Gary Arca, Allan Fabbro, Ken Sumanik, David Gunning, Richard Kern, Herb Duerr and Robert Sibthorpe as directors for the ensuing year.
Greg Myers, CEO and President of Caza Gold Corp. advises that Bradford Cooke has stepped down as Chairman of the Board and has submitted his resignation as a Director of the Company. The Company thanks Bradford for his services and wish him the best with his other commitments.
Primero Mining Corp. is pleased to announce the closing of its acquisition of the remaining 30.8% interest in its Cerro del Gallo development project from a subsidiary of Goldcorp Inc., as previously announced on November 6, 2013.
Amarium Technologies Inc., through its wholly owned subsidiary Amarium Minerals Inc., reports that the Company has approved upgrades to their mill at the San Pedro Copper Mine in Michoacan, Mexico. The flotation mill at the San Pedro Mine currently has a capacity of 20 tons per day, but after upgrades the mill will have a capacity of 200 tpd and will be expandable to 500 tpd. Amarium management stated that the upgrades to San Pedro are to begin immediately.
Cayden Resources Inc. is pleased to announce that it has received the final payment of $7,872,000 USD from its February 1, 2013 land sale which is now complete. In that sale, Cayden’s Mexican subsidiary sold approximately 23% (3,997 hectares from the original 17,076 hectares) of its “Morelos Sur Concession” to a subsidiary of Goldcorp Inc. for a total of $15,744,000. The exact boundaries of the sold portion were varied somewhat as part of the final completion documents.
Big North Graphite Corp. announces that the Company has entered into a letter of intent with MAG Exploration Services Inc. to acquire all of the shares of Grafito de Mexico, S.A. de C.V., held by the Vendor (which shares represent 97.5% of the issued and outstanding share capital of Grafito. Grafito is the registered and beneficial owner of the El Tejon property, a past producing flake graphite mine.
Further to its news release of November 13, 2013, Cortez Gold Corp announces a further amendment to its proposed private placement by increasing the size of the offering to 5 million units, for gross proceeds of $1 million. The pricing remains unchanged at $0.20 per unit with each Unit consisting of one common share of the Company and one-half of one share purchase warrant with each whole Warrant entitling the holder to acquire an additional common share of the Company at $0.40 per share for a period of 24 months after issuance. The Warrants will be subject to an accelerated expiry should the common shares of the Company close at a minimum of $0.60 for a period of twenty consecutive trading days on the TSX Venture Exchange.
Pan American Silver Corp. has decided to proceed with the expansion of its La Colorada mine in Zacatecas, Mexico, based on the positive results of a recently completed Preliminary Economic Assessment. The PEA demonstrates that the relatively low-risk expansion project has the potential to provide robust after-tax economic returns using a $19 per ounce long-term silver price. The PEA contemplates an increase in silver production from the current level of approximately 4.7 million ounces per year to 7.7 million ounces per year by the end of 2017, for an incremental capital investment of $80 million, the majority of which will be spent over the next 3 years.
Tarsis Resources Ltd. is pleased to announce that the $300,000 financing announced on November 21, 2013 has been over-subscribed and increased to $362,750. The financing participants include investors that have supported Tarsis in the past and who are able to assist Tarsis in the future with potential financial and strategic support. The financing is fully subscribed and will close shortly.
Skeena Resources Limited is pleased to announce, subject to regulatory approval, the election of Walter Coles Jr. to the Board of Directors. Mr. Coles will also assume the position of President and Chief Executive Officer. Walter holds a BA in Economics from the University of Richmond. He also serves as President, CEO and Director of Vancouver-based Anthem Resources Inc.; is Executive Vice-President of Virginia Energy Resources Inc., and is a director of Nickel North Exploration Corp. and Masuparia Gold Corporation (Anthem, Virginia Energy, Masuparia and Nickel North are all TSX Venture-listed companies). He previously worked as an equity and high yield bond analyst for New York-based Cadence Investment Partners, LLC, and as a research analyst for UBS Investment Bank.
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