Mr. Brad Langille, President and CEO, stated, Production increased each month during the quarter and the Company expects that there will be continued improvement in the June 30, 2019 quarter.
GREAT PANTHER MINING LIMITED reports, further to its news release dated March 5, 2019, that all holders of the outstanding senior secured debentures maturing on June 30, 2023 issued by Beadell Resources have accepted the Company’s repurchase offer made under the terms of the indenture governing the Debentures. The repurchase was completed today for an aggregate price of US$10,500,000, plus accrued interest.
The closing of the Pershing acquisition is a landmark event for Americas Silver shareholders, said Darren Blasutti, President & CEO of Americas Silver. The Company can immediately begin construction at Relief Canyon now that the Transaction has closed, and we have secured financing and Board approval. With Sandstorm as our financing partner, we have raised the necessary capital to fund the Project through to sustainable cash flow while adding an important strategic partner as the Companys largest shareholder. The addition of Mr. Pierre Lassonde as a significant shareholder further strengthens and enhances confidence in the Project and the management of the Company.
Leagold Mining Corporation reports Q1 2019 consolidated gold production of 105,949 ounces. These results establish a strong start toward meeting full-year 2019 production guidance of 380,000 to 420,000 oz.
Premier Gold Mines Limited is pleased to announce that it has entered into an option acquisition agreement with Americas Silver Corporation to acquire an option to purchase a 100% interest in the San Felipe Property, located 55 kilometres from the Companys Mercedes Mine in Sonora State, Mexico. Hochschild plc is the underlying owner of the San Felipe Property.
Discovery Metals Corp. is pleased to announce significant steps towards the re-designation of its Puerto Rico Project claims to allow for mining activities as a result of a meeting of the members of the Board of the Maderas del Carmen Reserve held on March 28, 2019. The MDC Board is comprised of 18 members representing stakeholders from all levels of government (federal, state, municipal), local ejidos, leading public companies from various industries currently operating in the area, as well as non-governmental organizations. Each of the Members is entitled to a vote concerning matters related to the Maderas del Carmen Reserve.
The EC120 Project is a significant addition to our precious metals growth pipeline, said Darren Blasutti, President & CEO of Americas Silver. Having a 2.5 million ounce per year silver project ready for immediate development fits into our strategy of preparing for the inevitable positive correction in the silver price. It provides a solid five-year production base as we continue to further explore the El Cajón and Zone 120 deposits and our other silver-rich exploration target areas in Cosalá later in 2019.
Following the success of our Phase One drill program at the Cerro Caliche gold project in Sonora, Mexico, we immediately proceeded with Phase Two, said Kenneth MacLeod, President and CEO of Sonoro. The proceeds of the financing will be applied toward the continuation of the Phase Two drill program, with assay results from the first fifteen holes due before the end of April.
We have placed a high priority on achieving production at El Dorado, said Pierce Carson, Magellan’s CEO. In addition to progress on permitting, we also have initiated work on mine design, project economics and formulation of a development schedule and budget. The drilled resource has an attractive grade approximating 7.0 grams gold per tonne and appears to be sufficient to support an underground mining operation for several years at a mining rate of 100 tons per day. At current metal prices, revenues are anticipated to be on the order of $7.0 million annually.
The Mulatos operation has been an incredible success story. It started producing gold in 2005 with approximately a seven-year mine life and 14 years later, the mine still has six years of reserves ahead of it. We would like to acknowledge all our employees, the local communities, and elected officials for their continued support in helping us achieve this significant milestone. The Mulatos District still holds great potential and we look forward to many more years of profitable production, said John A. McCluskey, President and Chief Executive Officer.
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