Tag: Investor’s Corner

Argonaut Gold Inc. (TSX:AR) is pleased to announce the results of its annual meeting of shareholders held May 1, 2018.

“We delivered another record quarter of production and given the strong start to the year, we’ve increased full year production guidance to a range of 490,000 to 530,000 ounces. The increase was driven by stronger than expected performances from our Mulatos and Island Gold mines, the latter establishing a new record in its first full quarter as part of Alamos. Our financial performance continues to improve with strong free cash flow growth expected from our operations into the second half of the year reflecting higher production and lower costs,” said John A. McCluskey, President and Chief Executive Officer.

Gold Resource Corporation (NYSE American: GORO) reported production results for the first quarter ended March 31, 2018 of 6,647 ounces of gold and 425,884 ounces of silver, which along with base metal revenue generated $32.2 million in net revenue and $5.5 million, or $0.10 per share in net income for the quarter.

McEwen Mining Inc. (NYSE:MUX) (TSX:MUX) today reported first quarter results for the period ended March 31, 2018. McEwen Mining achieved production of 44,344 gold equivalent ounces in-line with our expectations. Net cash flow from the business excluding project development costs was $12.4 million, offset by $22.7 million related to investments towards our long-term production growth at Gold Bar, Black Fox and Los Azules projects. Our consolidated net loss was $5.2 million, or $0.02 per share. As of April 30, 2018 the Company had cash investments and precious metals of $47 million and no debt.

Primero Mining Corp. (TSX:P) today announced that the Company has agreed to an extension of its revolving credit facility and the related guarantee provided by Wheaton Precious Metals Corp., both previously maturing on April 30, 2018, to the earlier of (i) May 15, 2018, (ii) the closing of the business combination with First Majestic Silver Corp. announced on January 12, 2018, and (iii) the seventh business day following termination of the proposed business combination.

“In order to address the operational challenges experienced during 2017 the Company appointed Carlos Silva in November as its COO. Mr. Silva is a well-known and highly respected Mexican mining engineer with more than 30 years’ of experience working in the mining industry in Mexico, the last 17 years of which were in senior management roles.” said Arturo Préstamo, President and CEO. “Under Carlos’s leadership our focus in 2018 at both Veta Grande and Rosario will be to increase production throughput and improve the head grade while concurrently completing a surface drilling campaign of approximately 20,000 metres at the Veta Grande Project and Zacatecas Properties. Initial steps have been taken to deliver on these goals.”

Pete Dougherty, President and CEO stated: “We made significant investments during 2017 and 2018 is about harvesting those investments and adding cash to our balance sheet through strong free cash flow. During the first quarter, we added $7.2 million in net cash to our balance sheet. We expect to continue to generate strong free cash flow, particularly during the second half of 2018, as we see the benefits of the throughput enhancements made at El Castillo and ramping up San Agustin production. Our primary objectives this year are to build cash on the balance sheet, continue to ramp up production, execute on our 65% growth program from 2017 to 2019 and de-risk our development assets. As our first quarter data shows, we are off to a strong start on all fronts.”

Agnico Eagle Mines Limited (NYSE:AEM, TSX:AEM) today announced that, at the annual and special meeting of shareholders held on April 27, 2018, each of the ten nominees listed in the management information circular dated March 12, 2018, were elected as directors of Agnico Eagle.

Allan Barry Laboucan, President and CEO of Advance Gold Corp. commented: “With drilling underway at our Tabasquena silver mine, plus the new addition of the Venaditas project, we are coming into a strong period for news flow. I’ve known the founder of Nicosia for many years and he has a great network of contacts in the mining space, and works very hard for his clients. Nicosia will help us build a strong shareholder base moving forward, and the timing is right for our message to get out ta a larger audience.”

The quarter we just concluded was a very positive one for AHMSA, as it took place in a very favorable environment with the announcement of some very encouraging news for the North American steel industry. The resolution of the U.S. government regarding the application of tariffs on steel and aluminum products (Section 232) coming into the U.S. benefits us, as Mexico was included in the list of countries exempt from this restriction,” Alonso Ancira Elizondo, Executive Chairman of the Board.