Defiance Silver Corp. is pleased to announce that it has extended the Loan from Windermere Capital Fund SPC (on behalf of the Navigator Segregated Portfolio) for an additional year. The Loan will mature on December 21, 2020. During 2019, the loan balance was reduced by $500,000.
“Securing this US$125 million Credit Facility and one of the key permits marks two more critical milestones in the evolution of Orla, allowing us to maintain our schedule for advancing Camino Rojo toward production in mid-2021. We have accomplished a great deal to get to this point in just two years since the acquisition of the project. With the continued support of local communities, various levels of government, shareholders and now lenders, we can advance toward production by initiating construction in the coming months once the final permit is received,” stated Jason Simpson, President and Chief Executive Officer.
Taj Singh, President and CEO, states, “We are very excited to welcome Forbes to the management team at Discovery. His capital markets background in conjunction with his corporate experience in exploration and project development will be key assets in driving value creation through the advancement of Discovery’s flagship Cordero project as well as through broadening the Company’s exposure within the investment community.”
“The increase in our facility on more attractive terms is a reflection of the increased scale of Alamos as well as our strong operating and financial outlook. Combined with our existing cash, this further strengthens our financial flexibility with no debt and nearly US$700 million of available liquidity,” said Jamie Porter, Chief Financial Officer.
The gross proceeds raised from the sale of the Offering will be used by First Mining to fund exploration programs that qualify as “Canadian Exploration Expenses” and “flow-through mining expenditures”, as those terms are defined in the Income Tax Act (Canada).
“Esta operación reitera la confianza y compromiso de IEnova con el desarrollo de infraestructura energética del país y la consolida como una de las principales empresas en la producción de energías limpias en México” concluye el comunicado de la empresa.
Freeport-McMoRan Inc. today declared a cash dividend of $0.05 per share payable on February 3, 2020 to holders of record as of January 15, 2020 for its common stock.
The Company plans to use the net proceeds of the Offering for continued exploration and development of the Company’s Las Chispas Project and for general working capital and administrative purposes.
Pete Dougherty, President & CEO stated: “We believe this PFS demonstrates that CDG is a long-life, low-cost asset in an attractive mining jurisdiction, Guanajuato, Mexico. CDG fits well within our team’s abilities as another open pit heap leach project in Mexico and is an asset that supports our transformation strategy from being a high-cost producer to a lower-cost producer.”
Alamos Gold Inc. today announced that it has filed with and received acceptance from the Toronto Stock Exchange for a Notice of Intention to make a Normal Course Issuer Bid permitting Alamos to purchase for cancellation up to 28,734,677 Class A Common Shares representing 10% of the Company’s public float of the Common Shares as of December 11, 2019, being 287,346,778 Common Shares.
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