Tag: Investor’s Corner

Fred Stanford, President & CEO of Torex stated: “The current blockade situation overshadows the many successes that the team has accomplished in 2017. These include, ramping up the plant to 90% of design throughput. Achieving design recoveries. Building the SART plant and installing additional tailings filtration capacity. Developing into the Sub-Sill deposit and producing the first development ore in less than a year from the discovery hole. Advancing the Media Luna design, successfully concluding negotiations for long term Media Luna land leases, and beginning the in-fill drill program for Media Luna. On the financial side the project finance debt was renegotiated with improved terms and flexibility for future growth. While it is impossible to be definitive, we expect the blockade to be resolved in the near term and we can then continue to build on the successes of 2017, as we transition into what should be a catalyst rich, and steady state 2018.”

The Company intends to use the net proceeds of the Offering to fund exploration at the Company’s Platosa Project in Durango, Mexico and Miguel Auza Project in Zacatecas, Mexico and for general corporate purposes. For additional details regarding the use of proceeds of the Offering, please see the Company’s short form prospectus dated November 2, 2017 that is available under the Corporation’s profile on SEDAR at www.sedar.com.

Mr. Vizquerra is currently the Executive Vice President of Strategic Development and a Director at Osisko Mining Inc. Previously, Mr. Vizquerra served as the President & CEO of Oban Mining Corp., where he led the successful change of business strategy that resulted in Oban’s acquisition of Corona Gold, Eagle Hill Exploration Corp. and Ryan Gold to form what is now Osisko Mining. Mr. Vizquerra previously worked as Head of Business Development for Compania de Minas Buenaventura, prior to which he worked as a production and exploration geologist at the Red Lake gold mine. He is currently a board member of Alio Gold Inc. Mr. Vizquerra holds a M.Sc. from Queens University in MINEX, and is a Qualified Person (AIGP).

Income of $4,594 or $0.14 per share for the three months ended September 30, 2017 compared to income of $734 or $0.03 per share for the third quarter of 2016. Gold production for the third quarter of 2017 was 2% higher than the comparable period of 2016.

Jorge A. Ganoza, President and CEO, commented, “We have had yet another quarter of strong operating and financial results at our operating mines in Peru and Mexico, positioning the company well on track to meet our annual production targets and financial objectives.” Mr. Ganoza continued, “Having announced a positive construction decision for our Lindero gold Project in Argentina, we expect free cash flow from our operations to contribute significantly towards the funding of the construction capital requirements.”

The oil firm co-founded by the chairman of Canadian gold miner Goldcorp Inc wants to aggressively expand in Mexico in coming years, including a potential joint venture with state-owned Pemex, the company’s director said in an interview on Wednesday.

“We continued to generate strong earnings in Q3 2017. In addition to fully funding our operations and growth capital projects, we repaid all of our bank debt and ended Q3 2017 with $186.3 millionof cash and short-term investments,” said Michael Steinmann, President and Chief Executive Officer of the Company. “We see potential for robust cash flow generation with the ongoing ramp-up in production from our mine expansions in Mexico.”

San Marco Resources Inc. announces the appointment of Christian T. Grijalva as Manager of Projects. Mr. Grijalva will be responsible for managing the Company’s Mexican exploration, including drill target definition at the newly discovered porphyry system at Project 1068, detailed exploration and drill target definition at Chunibas, as well as new property acquisitions.

Golden Minerals Company today provided a business summary and financial results for the third quarter ended September 30, 2017.

“This award is a reflection of our talented and engaged employees whose commitment, enthusiasm and ability is critical to our ongoing success,” said Don Lindsay, President and CEO, Teck. “Teck is focused on building a culture of safety and employee engagement while supporting diversity, innovation and leadership development across our workforce.”