Torex Gold Resources Inc. is pleased to report that its Board of Directors has accepted the Morelos Gold Project’s bankable feasibility study dated August 30, 2012, and has instructed management to initiate procedures that will, pending the arrangement of acceptable project financing, lead to the implementation of BFS recommendations to develop and bring the Morelos Gold Project to commercial production.
The Canada-based silver and gold exploration and development company has targeted near-term production (within one year)as part of its ongoing development plan to develop the sizeable and historically proven gold and silver potential held in its 431 square kilometer silver and gold project in Sonora, Mexico.
Scorpio Gold Corporation is pleased to announce the appointment of Mr. Steve Roebuck, P.Geo., as President of Scorpio Gold effective September 4, 2012. Peter Hawley will remain as CEO and will become Executive Chairman of the Company.
261% Increase in Net Present Value Reduction in Operating and Capital Costs, Coupled with Improved Recoveries
Primero Mining Corp. is pleased to provide a mid-year update of estimated Mineral Resources and Mineral Reserves for its San Dimas mine as at June 30, 2012. The Company reported contained gold in Probable Mineral Reserves of 584,000 ounces – an increase over year-end 2011 of 79,000 ounces (126,000 ounces before depletion). The increase in contained gold in Indicated Mineral Resources (which include Probable Mineral Reserves) was 17% to 678,000 ounces; and in Inferred Mineral Resources it was 23% to 866,000 ounces. The Company also reported contained silver in Probable Mineral Reserves of 34.7 million ounces, Indicated Mineral Resources of 40.6 million ounces and Inferred Mineral Resources of 67.5 million ounces.
Aura Minerals Inc. announces that, in accordance with National Instrument 43-101 and in support of the Company’s July 18, 2012 news release, it has filed a technical report entitled “Preliminary Economic Assessment of the Expansion of the Aranzazu Mine Zacatecas Mexico” prepared by AMC Mining Consultants (Canada) Ltd. The PEA is available under the Company’s profile on SEDAR at www.sedar.com and on the Company’s website at www.auraminerals.com.
NWM Mining Corporation announces that it has made a US $1.5 million payment due August 31, 2012 pursuant to the terms of the second amended and restated promissory note dated effective October 26, 2011 and the promissory note dated June 12, 2009, as amended. In conjunction with this loan repayment a drawdown of additional funds totalling US $1.0 million was made under the Company’s revolving credit facility.
Golden Minerals Company, which fell 7% Thursday, provided an update for the Velardena Operations, located in Durango State in Mexico.
Excellon Resources Inc. is pleased to announce that it has regained access to its La Platosa Mine in the state of Durango, Mexico. La Platosa has been under an illegal blockade commenced by the Ejido La Sierrita with the assistance and funding of the non-governmental organization ProDESC and the Sindicato Nacional de Trabajadores Mineros Metalúrgicos, Siderúrgicos y Similares de la República Mexicana, affiliated with the United Steelworkers Union.
Mundoro Capital Inc. responds to dissident shareholder Northern Minerals Investment Corp. regarding their ongoing accusations which are inaccurate and defamatory. The Company will, as it has previously advised the dissident group’s counsel, provide the requested information once it has been delivered to the Company by its independent scrutineer. The Company is disappointed the dissident group continues to dispute matters that have been decided upon by shareholders.
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