In accordance with Provision 4 of the UK Corporate Governance Code, the Company hereby provides an update on the actions taken in response to the level of votes cast against one of the resolutions (resolution 9) proposed at the Company’s Annual General Meeting held on 21 May 2024.
Greg McKenzie, President and CEO, commented: “We are pleased with the high-grade results from the La Estrella and San Rafael Zones. High-grade mineralization can be traced at La Estrella over a strike length of 225 m, vertical extent of 175 m, and true thickness of up to 6 m. Limited mining was previously conducted by First Majestic within these zones, and they were not included in the August 2023 Resource Estimate.”
The Company does not currently have sufficient resources to meet its expected cash needs during the twelve months ending September 30, 2025. At September 30, 2024, the Company had current assets of approximately $2.5 million, including cash and cash equivalents of approximately $1.8 million. On the same date, it had accounts payable and other current liabilities of approximately $4.5 million, which includes $1.0 million in deferred revenue for the sale of the Velardeña oxide plant and water wells.
“Exiting the third quarter, it was clear the operational changes the Company has been implementing at San Jose de Gracia are being reflected in strong results, notably the month over month production gains in October 2024,” stated Rohan Hazelton, President & CEO DynaResource.
“After extensive consultation with our shareholders, the decision was made not to move forward with the Prospector transaction and return to our company roots in mineral exploration” commented Cameron Tymstra, Tarachi President and CEO.
Kootenay’s President & CEO, James McDonald states, “Good to see more great results and important to note that more potential is opened up with the I Vein and newly recognized vein parallel to the B Vein. We are seeing some excellent results along B2 which remains wide open for expansion and will see a lot more drilling.”
Goldgroup Mining Inc. is pleased to announce that it has closed the non-brokered private placement previously announced on November 1, 2024.
“Despite the recent challenges of distressed capital markets for the precious metals sector as well as permitting delays in Mexico, we continue to maintain concession payments and advance the Cerro Caliche mine plan through the environmental review process,” said Kenneth MacLeod, Sonoro’s President and CEO.
NGSMEN RESOURCES LTD. is pleased to announce the closing of its non-brokered private placement financing announced on October 24, 2024. The Company raised gross proceeds of $1,000,000 by issuing a total of 4,000,000 units at a price of $0.25 per Unit.
Southern Silver Exploration Corp. reports that drilling has commenced on its 100% owned Cerro Las Minitas, Ag-Pb-Zn property, located in Durango, Mexico.
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