Tag: Investor’s Corner

Avino Silver & Gold Mines Ltd. (ASM: TSX/NYSE American, GV6: FSE) is pleased to announce that it has closed its previously announced private placement of flow-through common shares. A total of 3,000,000 FT Shares, which included the full exercise of the agent’s option for 500,000 FT Shares, were sold at an offering price of $2.00 per FT Share for gross proceeds to the Company of $6,000,000. The Offering was completed pursuant to an agency agreement dated April 27, 2018 between the Company and Cantor Fitzgerald Canada Corporation. The Company paid a 7.0% commission to CFCC who acted as sole agent on the Offering. All FT Shares are subject to a four month hold period in Canada. The Flow-Through Shares were not and will not be registered under the United States Securities Act of 1933, as amended and may not be offered or sold in the U.S. absent registration or an applicable exemption from registration requirements.

Dan O’Flaherty, President and CEO of Maverix, commented, “We are pleased with the Company’s exceptional first full year of operation. Throughout 2017, we continued to build and strengthen our portfolio by acquiring four paying NSR royalties, which will meaningfully enhance our cash generating platform. Additionally, we expect further growth in attributable gold equivalent ounces and revenues in 2018, as a number of our royalties are on underlying mines that are currently expanding production.”

Lithium Australia (ASX: LIT) reported on progress on construction of the company’s large-scale pilot plant to demonstrate its SiLeach® process at commercial scale.

Oroco Resource Corp. (TSX-V: OCO) is pleased to announce that it has closed the non-brokered private placement financing previously announced by news releases dated April 11, 2018 and April 16, 2018. The Company has raised gross proceeds of $900,000 through the sale of a total of 9,000,000 units at a price of $0.10 per unit. Each unit consists of one common share and one-half of one common share purchase warrant. Each whole share purchase warrant will be exercisable into one additional common share for a period of 18 months from closing at a price of $0.16 per share. The exercise period for the warrants may be accelerated to 30 days if, at any time after the first 4 months of the warrant exercise period, the volume-weighted trading average of the Company’s shares over a period of 20 consecutive trading days exceeds $0.35.

The resolution to set the number of directors at eight was approved by 99.85% of the votes cast for the resolution. Deloitte LLP, Chartered Professional Accountants were reappointed as Capstone’s auditors for the ensuing year by 84.60% of the votes cast.

The net proceeds of the Offering will be used for the Company’s continued exploration and drilling programs, to deliver an updated resource estimate and maiden Preliminary Economic Assessment for the Las Chispas Project, and for working capital purposes.

“We are very excited about the 2018 exploration program which got underway during the first quarter. The exploration strategy remains unchanged with a focus on reserve replacement and new target generation,” said Paul Harbidge, Senior Vice-President, Exploration. “Leveraging the success we had in 2017 in advancing new targets such as Amerikona at Coffee, and Silica Cap at Cerro Negro, we have an aggressive program ahead of us this year to advance targets from our core assets through conversion of resources into reserves. I’m very confident in our ability to reach our targeted 20% increase in reserves by 2021.”

“Our operations again delivered on target quarterly results while we continue to execute very well on our robust pipeline of growth projects, which together with excellent exploration results from across our portfolio, continues to enhance confidence in our 20/20/20 plan of growing production and reserves by 20%, and reducing AISC by 20% by 2021,” said David Garofalo, President and Chief Executive Officer of Goldcorp. “The completion of a solid pre-feasibility study at NuevaUnión and the acceleration of study work, exploration and engineering at Century and Norte Abierto underpin our Beyond 20/20 pipeline of potential new long-life, low-cost and large-scale mines.”

La minera de metales preciosos Fresnillo Plc reportó el miércoles un alza del 14 por ciento en su producción de plata en el primer trimestre, impulsada por el inicio de las operaciones de la Fase II del complejo San Julián, propiedad de la compañía en México.

Las reservas de las minas en Fresnillo permitirán la operación por los próximos 20 años, estimó Octavio Alvídrez Ortega, director general de Fresnillo plc.