Cayden Resources Inc. is pleased to announce the sale by Cayden’s Mexican subsidiary LC Mines, S.A. de C.V. of two blocks of the eastern portion (15%) of its Morelos Sur Concession “Morelos East Concession” to Desarrollos Mineros San Luis, S.A. de C.V., Goldcorp’s subsidiary which owns and operates the adjacent Los Filos mine in Guerrero State, Mexico.
Commenting on the Company’s results, Mr. German Larrea, Chairman of the Board, said ‘Once again the Company’s strong financial position and market preference was evidenced by the excellent terms obtained for our new debt offering.
Fortuna Silver Mines Inc. is pleased to announce that the transaction to acquire the Taviche Oeste Concession (Fortuna news release January 24, 2013) has now closed. Fortuna has acquired a 55 percent interest in the property for a US$4 million cash payment and entered into an option agreement whereby upon announcement of a production decision, Fortuna may purchase the remaining 45 percent interest for a US$6 million payment. The Taviche Oeste concession is subject to NSR royalties totaling 2.5 percent.
Geologix Explorations Inc. is pleased to announce that recent prefeasibility study optimization metallurgical test work indicates the potential to increase overall gold recovery in the sulphide mill design by 16.4% and silver recoveries by 31.4% compared to the April 2011 Preliminary Assessment Study completed by SRK Consulting (Canada) Inc. Sulphide processing material in the PA accounted for 90% of the total processed material (10% Oxide).
Patriot Minefinders Ltd. is pleased to announce that it has engaged Arseneau and Associates to conduct a review and update of the historical NI 43-101 technical report on KM 66 that was prepared by Wardrop Engineering (now Tetra Tech) for Great Panther Silver Ltd., with the goal of establishing a current NI 43-101 compliant resource estimate in the La Gloria and Las Palmitas areas.
Chesapeake Gold Corp. is pleased to release the positive results of a Pre-Feasibility Study on its 100% owned Metates gold silver project located in Durango State, Mexico. The NI 43-101 compliant PFS incorporates significant scope changes and updated engineering work as well as updated capital and operating cost estimates since the Preliminary Economic Assessment dated April 25, 2011. Both the PEA and the PFS were prepared by M3 Engineering & Technology of Tucson, Arizona and other prominent consultants who have recent project development experience in Mexico. All costs are in US Dollars.
Skeena Resources Limited is pleased to provide the results of metallurgical test work on drill core from the Company’s 100% owned Tropico copper-platinum-palladium-gold Project, located 25 km north of Mazatlan, Sinaloa State, Mexico.
Mundoro Capital Inc. has strengthened its management team with the appointment of Tom Wilson as Chief Financial Officer, effective today. Mr. Wilson has over 35 years of corporate experience in all areas of financial management and administration including corporate governance, government and securities compliance and financial administration.
Orex Minerals Inc. and Astral Mining Corporation announce that further to their joint news releases of October 15, 2012 and January 21, 2013, Astral’s shareholders passed a special resolution authorizing and approving the acquisition of all the issued and outstanding common shares of Astral by Orex by way of a plan of arrangement at Astral’s annual general and special meeting of shareholders held on January 31, 2013. Pursuant to the Arrangement, Orex will issue Astral shareholders 0.0834 of an Orex common share for each issued and outstanding Astral share held by an Astral shareholder. If the Arrangement becomes effective, the holders of outstanding Astral warrants and options will, upon exercise, be entitled to receive that number of Orex shares adjusted in accordance with the Exchange Ratio.
Orex Minerals Inc. announces that its board of directors and management are consulting with its legal and financial advisors to evaluate the merits of proceeding with a reorganization of its business that will separate Orex’s advanced-stage Barsele Gold Project in Sweden from all of Orex’s other mineral properties. It is expected that the Proposed Transaction will be completed through a shareholder-approved plan of arrangement that would result in shareholders receiving the shares of a new company and continuing to hold shares of Orex.
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