Tag: Investor’s Corner

Allan Barry Laboucan, President and CEO of Advance Gold Corp. commented: “For a junior exploration company with a tiny market valuation we have a lot on the go. At our 100% owned Tabasquena silver mine in Mexico, we are planning a geophysical survey together with a follow up drill program. The well known Milagros silver mine lies approximately 8 kilometres to the south east of the Tabasquena mine. We believe that these two mines lie on the same structure.

As announced on 14 December 2017, NextView previously entered into a binding placing letter with the Company pursuant to which it agreed to acquire 32,976,635 common shares in the Company at a price of 94.53 pence (approximately C$1.6223) per share for aggregate gross proceeds of £31,172,813 (approximately C$53,498,000). The initial target date for completion of the Placing was end of January 2018. The Company has fulfilled all of its obligations in respect of the Placing, however, NextView has failed to forward the Placing proceeds to the Company, leaving it in default under the terms of the Placing Letter.

President and chief executive officer Allan Barry Laboucan said: “In the past year we expanded our Mexican portfolio from having six lithium prospective salars, to an additional seven salars and then staked nearly one million acres over three very large salars. All of these salars are 100-per-cent-owned Alset projects. We look at it as two main project regions, with a southern cluster of 13 salars in the states of Zacatecas and San Luis Potosi, and the second much larger northern cluster in the state of Coahuila. The salars that make up the southern cluster are the most advanced, with enough historical data and recent work to be able to complete a number of mineral resource estimates. These are the three mentioned earlier which include our largest salar, the highest-grade lithium salar and the salar with the highest-grade lithium sample in the southern cluster. We are excited to be able to complete initial mineral resource estimates on these three salars. This work will help provide scope to the tonnage potential of these three salars and help lead our future work on exploration and development of all our lithium prospective salars in the southern cluster.”

Azure’s Managing Director, Mr Tony Rovira, said the strong investor support had significantly strengthened the balance sheet, and allowed for the continued exploration and development at Oposura and Sara Alicia. “I am very pleased with the strong support shown from institutions in North America, Europe and Australia. This heavily oversubscribed placement places Azure in a very strong position moving forward, as we work towards completing development studies at Oposura and fast-track exploration at the Sara Alicia gold and cobalt project. With both zinc and cobalt prices at decade highs, we believe that the Company is ideally placed to accelerate both Oposura and Sara Alicia towards development.”

Net proceeds of the Offering will be used for general corporate and working capital purposes and to advance Palamina’s gold projects in south eastern Peru in the Puno Orogenic Gold Belt. All securities issued pursuant to the Offering are subject to a statutory hold period ending June 27, 2018. The Offering is subject to TSX-V acceptance of regulatory filings.

J. Duane Poliquin, Chairman of Almadex, commented, “Participation of Newcrest in El Cobre further validates the potential of the district and enables Almadex to conduct the work program at El Cobre which our recent programs have clearly demonstrated is justified. We look forward to working with Newcrest which has extensive experience internationally in similar geological environments as we conduct further exploration at El Cobre”.

Westminster Resources Ltd. is pleased to announce that the TSX Venture Exchange has confirmed that Trading will resume at the open. Westminster Resources was halted as part of the acquisition of the Peru Copper projects, which consist of two advanced exploration projects, Ilo Norte and Ilo Este, and a number of nearby extensions and earlier stage targets, totalling 44 concessions covering 36,000 hectares in the coastal copper belt of southern Peru. This region of southern Peru hosts numerous producing copper porphyry and IOCG deposits, with Peru being the third-largest producer of copper. Ilo Norte is an IOCG type deposit that has had significant prior drilling, while Ilo Este is a large copper porphyry system with coincident gold, silver and molybdenum mapped at surface over more than 3 square kilometres.

“The technology described in the patent has potential application for the extraction of cobalt from a range of oxidised or non-sulphide deposits. Cobalt, an essential component of lithium ion batteries, is a core target metal for the commercialisation of our intellectual property and we now have patent protection coverage in Zambia, one of the world’s most prospective countries of patent use,” said Chief Executive Officer Martin Rosser.

DynaResource Inc. and its affiliate DynaResource de México SA de C.V., the 100 percent owner of the San José de Gracia Project in Sinaloa, México, announce that a recent attempt by Goldgroup Resources Inc. to confirm an international arbitration award adverse to DynaResource has been rejected by a United States District Court.

Bradford Cooke, CEO, commented, “Overall, we worked hard in 2017 to turn a year of challenges into a year of opportunities. I am pleased to report strong growth in net earnings in 2017, up 148% to $9.7 million or $0.08 per share, notwithstanding slightly lower revenues compared to 2016. In addition, our financial performance in the Q4, 2017 was up across all metrics compared to Q4, 2016. We reduced our operating costs during the year and expect to continue that trend into 2018. After a tough start to the year in the first quarter, Endeavour posted three consecutive quarters of improved production, making the fourth quarter our best of the year. Ore grades and throughput both improved in the second half. In 2017, silver equivalent production met the low end of our original guidance and the high end of our revised guidance, despite overcoming operational challenges at the Guanacevi mine. A new productivity optimization program was launched at Guanaceví last month and additional operational improvements are planned this year at Bolañitos and El Cubo. As we advance our development projects and continue optimizing our existing mines, we look forward to delivering one of the best growth profiles in the silver mining sector.”