Tag: Investor’s Corner

Cerro San Pedro finished active mining and transitioned to residual leaching late in the second quarter of 2016. As a result, and consistent with expectations, the mine’s fourth quarter and full-year 2017 gold and silver production decreased compared to the prior year. 2017 full-year gold production was slightly below the guidance range of 35,000 to 45,000 ounces.

Keith Neumeyer, President & CEO, stated, “Santa Elena and San Martin were the star performers in 2017. In 2018, we expect higher grades, throughputs and recoveries to improve the operations at La Encantada, La Parrilla, La Guitarra and Del Toro due to the concerted investments in exploration and development that commenced in late 2016. In addition, the acquisition of the San Dimas mine comes at a great time with all our other operations benefiting simultaneously from increased investments. As a result, the business will benefit from improved operating margins, increased cash flows and greater economies of scale into the coming quarters.”

Pete Dougherty, President & CEO stated: “Production of 126,704 GEOs falls within our stated 2017 guidance of between 122,000 and 130,000 GEOs. At La Colorada we exceeded our expectation of between 47,000 and 50,000 GEOs with production of 53,286 GEOs. At San Agustin, we experienced a slower than expected ramp up in the mine and slower than anticipated flow rate to the leach pad. These issues have since been resolved and mining and flow rates are now meeting plan…”

“Since we restructured our business during the first half of 2016 to drive a culture of accountability and sound operating principles, we have delivered consistent, predictable and low-cost gold production,” said David Garofalo, President and Chief Executive Officer of Goldcorp. “We are well underway to deliver on our 5-year plan of growing gold production and gold reserves by 20% and reducing AISC by 20% by 2021. With the most robust growth pipeline among global senior gold companies, we are making an initial investment of $100 million in our long-term portfolio ‘Beyond 20/20’. Together with an enhanced exploration budget of $125 million, the objective of Beyond 20/20 is to maximize the net asset value of our existingmines and projects by continuing to grow low-cost gold production from our growing gold reserves.”

Consolidated Zinc Limited announces that it has received a notice from each of the directors of the Company, other than Mr Luis Rogelio Martinez Valles, of their intention to move a resolution to remove Mr Luis Rogelio Martinez Valles as a director of the Company at the next general meeting of the Company.

McEwen Mining Inc. reports annual consolidated production in 2017 was 109,947 gold ounces and 3,178,742 silver ounces, or 152,329 gold equivalent ounces, at a gold to silver ratio of 75:1.

Wheaton Precious Metals™ Corp. announces that its wholly owned subsidiary Wheaton Precious Metals International Ltd. has agreed to a new precious metals purchase agreement relating to the San Dimas mine, in conjunction with the proposed transaction announced today under which First Majestic Silver Corp. will acquire Primero Mining Corp. pursuant to a plan of arrangement.

Primero Mining Corp. 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 January 11, 2018, to the earlier of (i) April 30, 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.

First Majestic Silver Corp. and Primero Mining Corp. are pleased to announce that they have entered into a definitive arrangement agreement whereby First Majestic will acquire all of the issued and outstanding common shares of Primero. Under the terms of the Arrangement Agreement, all of Primero’s issued and outstanding common shares will be exchanged for First Majestic common shares on the basis of 0.03325 of a First Majestic common share for each Primero common share.

Canarc Resource Corp. announces the appointment of Jacob Margolis, PhD as the Company’s Vice President Exploration, effective January 1, 2018.