Orogen Royalties Inc. is pleased to announce that exploration partner Rackla Metals Inc. has exercised their option on the 288 square kilometre Astro gold project in the Northwest Territories, Canada.
Rodrigo Barbosa, Aura’s President and CEO commented, “In this quarter, we experienced a significant rise in production volumes in all our operations. Also, a standout accomplishment this quarter was Almas’s ramp-up, which exceeded industry benchmarks. As our operations thrived, we finalized and released a highly accretive Feasibility Study, secured funding and commenced construction at Borborema. We, at Aura team, are focused and building a solid track record in order to achieve our 450,000 Oz annualized by the end of 2025.”
“Completion of the project loan marks a step forward in our deep-rooted commitment to creating shareholder value and executing on our strategic vision to foster economic growth, environmental responsibility, and to positively impact lives by promoting local development”, said Dan Dickson, Endeavour’s CEO. “ING and Societe Generale are tier one lenders to the mining industry, and we are grateful for their partnership and support towards executing this vision. We look forward to unlocking all these benefits as we advance Terronera towards production.”
Fortuna Silver Mines Inc. reports that it has paid down $40 million of its revolving credit facility at the end of the third quarter of 2023, using cash on hand.
Michael W. Scherb, Founder and CEO of Appian, commented: “We are thrilled to have closed Fund III, with very strong support from existing and new investors. Fund III provides exposure to key trends including inflation protection, the energy transition and the need for an independent and stable supply of critical minerals to support the shift away from oil and gas. As we continue to see increasing interest in metals and mining, Fund III will build on the successful track record of Funds I and II, deploying our unique operating model to bring mines into production and generate outsized returns for our investors.”
Newmont Corporation confirms it has reached a preliminary agreement with the National Union of Mine, Metal, and Allied Workers of the Mexican Republic aiming to end the strike initiated by the Union on June 7, 2023 at Minera Peñasquito in the Mexican state of Zacatecas.
“We are already seeing excellent indications of a robust mineralized system beyond Pilar,” stated Brodie Sutherland, CEO. “The presence of pervasive hydrothermal alteration, silicified tourmaline breccias along with significant historic underground workings and years of active placer gold extraction are providing key indications that the area is prospective for drill targeting.”
Pan American Silver Corp. has temporarily suspended all operating activities at its La Colorada mine in Mexico due to security concerns at the mine site and the surrounding area. In the early hours of October 5, 2023, the operation experienced an armed robbery of two trailers of concentrate.
As part of the deal, workers at the Penasquito mine will receive 8% more pay for each shift, with the increase retroactive to Aug. 1, the mine workers union said in a statement. Each of the about 2,000 unionized workers will also get an equal share of a total 152 million pesos ($8.3 million).
A four-month-long labor strike has been lifted at Newmont’s Penasquito gold mine in Mexico after a deal was reached between workers and the firm to boost salaries, according to statements from the union and Mexico’s labor ministry on Thursday.
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