Excellon Resources Inc. faces a lawsuit in Ontario from Javier Martinez Lomas, seeking US$23 million in damages. The claim relates to a previously resolved dispute in Mexico involving a former Excellon subsidiary. Excellon considers the lawsuit meritless and an attempt to relitigate a settled matter, vowing to defend and dismiss the claim.
Mako Mining Corp. reports Q1 2025 San Albino production of 48,813 tonnes mined, yielding 10,817 oz gold sold for $31.5 million. Mill recovery was 85.3% at 608 tpd. The Moss Mine acquisition added 936 oz. Eagle Mountain project advances with environmental and geotechnical work, targeting H2 2025 for EIS submission. Cash balance is $14.2 million.
Bear Creek Mining Corporation reported its 2024 financial results, producing 40,220 oz gold and 217,676 oz silver at Mercedes Mine. Revenue was $103.7M, but a $27.2M impairment charge led to a $66.8M net loss. The company restructured debt with Sandstorm, raised $10M, and initiated a strategic review to enhance shareholder value. Cash costs were $1,471/oz, AISC $1,888/oz.
Regency Silver Corp. reports today that effective immediately, Bruce Bragagnolo has been appointed the Chief Executive Officer of the Company.
Pinnacle Silver and Gold Corp. is advancing its El Potrero property in Durango, Mexico, with Phase I fieldwork underway. Surface mapping extended the vein system 1,100 meters, and 132 samples were submitted for analysis. Underground mine cleaning and sampling are complete, access roads cleared, and plant cleanup nearly finished. Community relations are positive, and a LiDAR survey is planned.
Colibri President & CEO Ian McGavney commented: “We are pleased with overall results from this recent diamond drilling program. The footprint of the gold & silver mineralization at Pilar has been expanded and opens the doors for potential future drilling along the Main Zone trend as well as the less understood 4T and North Hill trends. Our attention will now be focussed on working with our partner to advance a maiden estimate as well as finalizing plans and permitting for our upcoming up to 50,000 tonne test mine/bulk sample.”
Upon closing of the Over-Allotment Option, the Company received additional gross proceeds of US$4,985,800, resulting in total gross proceeds from the Offering of approximately US$50.0 million.
Sierra Metals reported an 18% increase in consolidated ore throughput and a 14% rise in copper production in Q1 2025 compared to Q1 2024, driven by strong performances at Yauricocha and Bolivar mines. Yauricocha saw a 37% throughput increase, with copper output doubling. Bolivar’s production dipped due to lower grades. Financial results will be released May 14, with a conference call on May 15.
Equinox Gold Corp. announced that proxy advisory firms ISS and Glass Lewis recommend shareholders vote FOR the proposed business combination with Calibre Mining Corp. The merger aims to create a major gold producer in the Americas, with over 1.2 million ounces annually, significant cash flow, and growth potential. The shareholder meeting is set for April 24, 2025.
“Step-out drilling south of the Main Zone has extended the high-grade corridor where we previously thought mineralization stopped.” commented, CEO Brodie Sutherland.
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