McEwen Mining Inc. reports consolidated production for Q1 2020 was 29,177 gold ounces and 553,179 silver ounces, or 35,062 gold equivalent ounces at the average gold:silver price ratio for the quarter of 94:1.
The Company produced 1.8 million ounces of silver and 10,101 ounces of gold, plus base metal by-products. Government-mandated constraints on business to curb the spread of COVID-19 in the countries that host our operations, have resulted in reduced production at the Caylloma Mine during the first quarter of 2020, and subsequent to the end of the quarter, have resulted in the suspension of operations at the San Jose Mine.
Silver One’s President and CEO Greg Crowe commented, “Silver One has reduced the current dilution to shareholders from having to issue close to 4 million shares of SVE (as per its 2017 Option Agreement with SSR Mining) to issuing just over 850,000 units of SVE. Additionally, Silver One has pushed back the commitment to pay Maverix US$1.0 million (50% in cash and 50% in SVE shares) to the first anniversary of commercial production at Candelaria in comparison to the original agreement that required payment immediately upon commercial production. Silver One’s management feels this agreement is in the best interest of our shareholders.”
La minería es el primer eslabón en la cadena de suministro y proporciona los materiales básicos necesarios para casi todos los sectores de infraestructura crítica, incluidos la atención médica, los servicios de emergencia, los sistemas de transporte, la tecnología de información, la energía, comunicaciones, alimentación y agricultura.
Mining is the first link in the chain of supply providing the basic materials needed by nearly every critical infrastructure sector including healthcare, emergency services, transportation systems, information technology, energy, communications, food and agriculture.
“Strong production from our three operating mines produced 6.2 million silver equivalent ounces in the first quarter, or 9% above our previously suspended guidance,” said Keith Neumeyer, President and CEO. “Our San Dimas, Santa Elena and La Encantada mines were all operating above guidance prior to Mexico’s Federal Decree to suspend all mining activities in response to the COVID-19 pandemic. While we support the actions being taken, we continue to engage in discussions with Federal and State authorities to raise awareness on the importance of silver mining as an essential business.”
Bill Brodie Good, Technical Director, commented: “The highly successful IP survey carried out by highly experienced geophysical consultants has highlighted 2 robust and one slightly weaker magnetic anomaly, coincident with previous geophysical and rock chip sampling to date. The incorporation of promising results from IP, Gravity and Magnetic surveys has defined these anomalies.”
Mexico’s Peñasquito mine, one of the country’s leading gold and silver producers, said on Monday that it had temporarily suspended operations to comply with government restrictions aimed at curbing the spread of the coronavirus.
SilverCrest Metals Inc. is pleased to announce a non‑brokered private placement of 10,000,000 common shares of the Company at a price of C$7.50 per share for gross proceeds of C$75 million.
In compliance with the recent directive of the Mexican Federal Government to suspend all non-essential activities, including mining, until April 30, 2020 in response to the COVID-19 pandemic, the Company has begun an orderly and safe suspension of mining activities at its Velardeña Properties (Durango State, Mexico).
Maza Drilling is a Mexican company established in 2007 in Mazatlán, Sinaloa. Our Canadian founder, Mr. Guy de Launiere, has over 20 years of international experience managing diverse drilling operations. Maza Drilling strives to compete at the highest levels in terms of recovery, effectiveness, efficiency, and affordability at every project while keeping at the forefront of technology to meet our customer’s needs in this demanding market.
Maza Drilling is a Mexican company established in 2007 in Mazatlán, Sinaloa. Our Canadian founder, Mr. Guy de Launiere, has over 20 years of international experience managing diverse drilling operations. Maza Drilling strives to compete at the highest levels in terms of recovery, effectiveness, efficiency, and affordability at every project while keeping at the forefront of technology to meet our customer’s needs in this demanding market.
Check the Mining State Panoramas
The promotion and dissemination as essential elements to understand and disseminate our Mineral resources, that is why today it is pleased to make the document “Mining Panorama” available to society, by state.
GeoInfoMex, is the consultation system of the Mexican Geological Service that allows users to know geoscientific information and make decisions with savings in time and resources, helping to promote mining activity.
México Minero is a non-governmental organization that promotes sustainable mining.
The DOF is the organ of the Constitutional Government of the United Mexican States, which has the function of publishing in the national territory, to so that they are properly observed and applied in their respective areas of competence.
Learn about the current situation of the mining industry as well as the activities carried out by Camimex.
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