Colibri Resource Corporation announces that it has been granted an extension from the TSX Venture Exchange to close its over-subscribed $1,200,000 non-brokered private placement. A first tranche raising gross proceeds of $1,077,098 has already closed. The second and final tranche is now required to be closed on or before March 21, 2018.
Leagold Mining Corporation reports Q4 2017 gold production of 53,446 ounces at its Los Filos mine at AISC of $910/oz, resulting in an AISC margin1 of $18.7 million. With full-year Los Filos gold production of 191,195 oz, Leagold has delivered the mid-point of the 2017 production guidance range of between 185,000 and 200,000 oz. Leagold had anticipated AISC of between $875/oz to $925/oz for H2 2017, and this guidance range was achieved for Q4 2017.
I am pleased that Gold Resource Corporation delivered our seventh consecutive year of profitability, stated Gold Resource Corporation CEO and President, Mr. Jason Reid.
The proceeds of the private placement will be added to working capital. The sole subscriber to the private placement is Salvador Garcia, a director of the Company and Starcores Chief Operating Officer.
Arturo Prestamo, President and CEO of Santacruz commented “The Loan proceeds will be used to reduce our current trade payables balance which together with the recent Carrizal services agreement will assist to improve our mining operations at both Veta Grande and Rosario. Management views this as another important step in the development of the Company.”
Vangold intends to use the proceeds of up to $2,000,000 of the Offering to fund the Phase 2 drill program targeting the lower El Pinguico vein extension, and for general working capital.
El estado es el tercer productor de oro, tiene el segundo lugar nacional en la producción de plata, plomo y zinc y es el quinto productor de cobre en el país.
Todays announcement is another example of why Quebec is a leading mining jurisdiction in North America, said Phillips S. Baker, Jr., Heclas President and CEO. Since we acquired the Casa Berardi mine, we have seen a significant improvement in its operations, including doubling the throughput, increased gold production and reserves, and a 70% reduction in the All Injury Frequency Rate. We have also added about 250 workers to the mine since it was acquired, bringing the total to around 950 currently. We welcome this opportunity to work closer with the Quebec government as we continue to grow and strengthen the operation.
The Pilar project holds a great deal of potential for our Company and for our investors. We are confident that the significant level of investor interest in this financing verifies that we are on the right path by expanding on and confirming our potential resource stated Ron Goguen, President & Chairperson of Colibri.
J. Duane Poliquin, Chairman of Almaden stated, “Ms. Ellingham brings a wealth of industry and governance experience and we are delighted that she has joined our Board. Her diverse background will be invaluable to Almaden as we advance the Ixtaca project through the engineering, permitting and financing stages to come.
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