Kootenay Silver Inc. announces that it has closed the second and final tranche of its previously announced (see news releases dated February 1, 5 and 16, 2024) non-brokered private placement of units of the Company at a price of $0.75 per Unit for aggregate gross proceeds of $237,525. The Company received total aggregate gross proceeds of $3,720,587 from the Offering.
Eric Caba, President and CEO of Bear Creek states, “I am pleased to welcome Zoya Shashkova to the Company. Her deep understanding of finance and accounting will be invaluable as we continue to develop and grow Bear Creek. Zoya’s meticulous style and “boots on the ground” approach will add significant value to the management team.”
Beginning next week, Rob Atkinson will transition all of his remaining responsibilities to Newmont’s new COO, Natascha Viljoen. He will then officially step down from the Newmont Executive Leadership Team, effective May 2, 2024.
Greg McKenzie, President and CEO, commented: “Drill results from within the C460 Zone continue to deliver exceptional results. The high-grade mineralization reported today in hole Q-23-022A extends this zone 62 metres below hole Q-23-020 (1,810 g/t Ag.Eq over 14.6 m). Combined, these two holes have demonstrated the mineralization extends 74 metres below the last mined stope (1767 EL), with higher grades and widths than what was previously mined in this area. We will follow up with additional drilling in this location in 2024.”
Silver Tiger’s CEO, Glenn Jessome, stated, “We are excited to announce that initial results are both confirming and expanding the near-surface potential ‘Starter Pit’. These promising assay results help to further de-risk the project in conjunction with the underway PFS-level geotechnical and metallurgical studies.” Mr. Jessome further stated, “We also continue the work to deliver a PEA for the permitted underground MRE during H2-2024.”
“Last year was challenging for both our operations and our shareholders. However, we are optimistic that 2024 will see significant positive advancements at the Santana gold mine,” stated Darren Koningen, CEO. “A newly modelled approach to the development of Santana utilizing the existing leach pad capacity will allow mining and stacking operations to increase significantly from 2023 levels.”
. “In 2023, we added more than 47 million ounces of gold reserves and 14 billion pounds of copper reserves through the acquisition of Newcrest and the continuation of our industry-leading exploration program. With the largest gold and copper reserve base in the industry, Newmont is well-positioned to deliver stable production and meaningful value to stakeholders today and in the future.”
“The recent drilling results have added a new dimension to our near-mine exploration program, unveiling an exciting new mineralization style in previously disregarded host rocks. With promising initial metallurgical results and substantial upside extension potential, we are committed to driving Orla’s 2024 exploration efforts towards expansion drilling as we look to unlock the full potential of the growing Camino Rojo deposit.”
John MacKenzie, CEO of Capstone, commented, “Last year set us up for transformational growth in 2024. We completed construction at our flagship Mantoverde Development Project (“MVDP”) in Chile, advanced key studies to support our future growth, and our operations delivered their strongest quarter to finish off the year. In the first half of 2024, we will be focused on the ramp-up of MVDP and maintaining consistently strong production across our portfolio. In the second half of 2024, we will be focused on generating record copper production and cash flow.”
“Pan American enters 2024 in a solid financial position with cash and short-term investments totaling $440.9 million and the full $750.0 million available under our undrawn credit facility,” said Michael Steinmann, President and Chief Executive Officer.
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