“This $40 million facility bolsters our liquidity and increases our financial strength as we ramp up at Juanicipio and transition to commercial production.”
“At a high level, as discussed at length in the joint circular, the arrangement will combine two large, efficient gold operators primarily exposed to a selection of low-risk mining jurisdictions, with the arrangement ultimately expected to create the largest gold producer in Canada.”
The Company intends to use the net proceeds of the Offering for underground mine development and exploration programs at Tucano, to maintain its working capital and for general corporate purposes.
The grounds for the appeal are that Minera Cuzcatlan is in full compliance with all material environmental laws, and therefore Minera Cuzcatlan has the right to an extension of the EIA under applicable law. The timing for a decision by the Administrative Court is uncertain, and Fortuna has been advised that such decisions may often take up to a year to be delivered.
The net proceeds of the Private Placement will be used to further our permitting and targeting for drilling programs on our gold-silver projects, working capital and general corporate purposes.
“Our strong adjusted EBITDA of $75.3 million with margins of 46% and free cash flow from operations of $33.8 million in the third quarter attest to the strength of our business.”
Sean Roosen, CEO of Osisko Development commented, “These initial results and geologic interpretation from Sapuchi, give us strong confidence in the potential to build the resources significantly within the property. With this confirmation and exploration drilling, we expect to have a resource estimation in the following months.”
Canasil Resources Inc. announces plans for mobilization and resumption of core drilling at the Nora silver-gold project in north-central Durango State, Mexico.
“Last year was very successful in growing the potential size of the mineralized system at Pilar, we look forward to building off that success again this year with continued drilling and trenching across the property. In addition, bulk sample composites taken from surface will aim to show our mineralized oxide zone is amenable to conventional heap leach processes.”
The Company maintains that the asset has tremendous upside to develop into a significant dual commodity lithium – potash (SOP) producing deposit that would be highly strategic for the country of Mexico considering all potash is currently imported.
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