“With the reopening of the Cosalá Operations and the strong current metal prices, I am confident the Company has turned the corner with the return to cash flow generation expected in the near term and the risk of further equity dilution significantly reduced”
“We are pleased at how the exploration has been improving quarter by quarter and we are now starting on the exploration to find the manto – breccia deposit of the Cuerpo 32, which is the continuation of the Cuerpo 31 after the fault,” stated Salvador Garcia, Chief Operating officer of the company.
“These latest assay results demonstrate the continued exploration potential of the CLM project with drilling at the North Felsite target showing a potential promising extension to the already significant mineral resources identified in the La Bocona deposit while new target areas such as those on the EL Sol concession continue to be developed. Drilling continues and further assay results are anticipated over the coming weeks.”
The net proceeds from the Offering will be used to fund a 10,000-meter drilling campaign, commencing this month, at the Company’s Cerro Caliche Gold Project in Sonora, Mexico.
“This is the first drill program on the property in seven years and we are excited to be embarking on a new chapter of exploration at La Joya,” said Mike Romanik, president of Silver Dollar.
The Company’s top priority is on the high-grade, historic Las Chispas mining district in Sonora, Mexico, where it has completed a feasibility study on the Las Chispas Project.
Newmont Corporation announced today it will redeem the principal amount of $492,105,000 related to its 3.500% Senior Notes due March 2022.
Pete Dougherty, President and CEO stated: “We generated nearly $40 million in cash flow during the third quarter in spite of the usual productivity challenges we typically experience due to the rainy season in Mexico.”
Mining operations commenced during the third quarter, including drilling, blasting, and hauling of ore and waste. Construction of the primary and secondary crushers is complete and the overland conveyors and heap leach stacking system were installed and are being commissioned.
“The exciting progress being made at each of our investments demonstrates Empress Royalty’s ability to invest in high quality projects with strong management teams creating long term value for both our shareholders and the shareholders of our mining company partners,” stated Alexandra Woodyer Sherron, CEO and President of Empress Royalty.
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