In consideration of the sale, First Majestic received 69,063,076 shares of Sierra Madre at a deemed price of CDN$0.65 per share for an approximate value of CDN$44.9 million or US$35.0 million.
“This updated resource statement underpins our belief that the combination of Magino and a redevelopment of Florida Canyon can provide the foundation for Argonaut’s transition into a low-cost mid-tier gold producer in North America,” stated Richard Young, President and Chief Executive Officer.
Sierra Madre Gold and Silver Ltd. is pleased to announce that, pursuant to the share purchase agreement dated May 25, 2022, as amended and restated on October 28, 2022, among the Company, First Majestic Silver Corp. and Corporacion First Majestic, S.A. de C.V., the Company has completed its previously announced acquisition of La Guitarra Compania Minera S.A. de C.V., an indirect wholly-owned subsidiary of First Majestic incorporated under the laws of Mexico, that holds a 100% interest in the La Guitarra silver-gold property.
Starcore International Mines Ltd. today announced that as part of its ongoing efforts to reduce costs, it will voluntarily withdraw its common shares from quotation on the OTCQB, effective prior to the opening of the markets on March 31, 2023.
Ernesto Balarezo Valdez, Sierra Metals’ Interim CEO comments, “Sierra Metals enters 2023 with positive momentum. Since the start of 2023, we have stabilized our operations and begun to implement a program to optimize our operating performance, all with safety as the top priority.”
Richard Lock, Oroco’s CEO, commented: “I am very pleased to say that the overall Santo Tomas 2022-2023 drilling program has validated my decision to join Oroco approximately one year ago. The project is clearly meeting my expectations as a highly attractive acquisition target and I look forward to this assessment being further substantiated with the upcoming release of an updated Mineral Resource Estimate and the Preliminary Economic Assessment which will follow.”
“We continue to be impressed with the results which we’re seeing from Los Ricos South, particularly in the Eagle deposit. Hole 126 is a great example of why we believe this deposit is so special – as it has excellent grades over wide intercepts,” said Brad Langille, President and CEO.
Jody Kuzenko, President & CEO of Torex, stated: We are pleased with the results of the year-end 2022 Mineral Reserve & Resource estimate which further highlights the geological excellence of our Morelos Property. On a total asset AuEq basis, net of depletion, Measured & Indicated Resources increased 567 koz (+8%) and Inferred Resources increased 41 koz (+2%). Prior to mine depletion of 511 koz AuEq, Measured & Indicated Resources increased 1,078 koz (+16%).”
Ernesto Balarezo Valdez, Sierra Metals’ Interim CEO comments, “Sierra Metals enters 2023 with positive momentum. Since the start of 2023, we have stabilized our operations and begun to implement a program to optimize our operating performance, all with safety as the top priority.”
Equinox Gold Corp. is pleased to announce it has completed a $140 million gold prepay arrangement. The Company has also signed a non-binding term sheet for an additional $50 million gold purchase and sale arrangement.
Mexico Mining Center © 2021 / All Rights Reserved
