Tag: Investor’s Corner

Ewan Downie, President and CEO stated, “We continue to realize strong production performance and record earnings since the beginning of our mining operations. The resulting cash flow allows us to aggressively pursue multiple development opportunities within the Company’s portfolio of advanced projects without additional financing”.

Golden Minerals Company today announced financial results for the second quarter ended June 30, 2017 and provided a 12-month financial outlook.

Avino Silver & Gold Mines Ltd. announces it has entered into a sales agreement dated August 4, 2017 with Cantor Fitzgerald & Co., pursuant to which Avino may distribute common shares from time to time through the Agent, as agent or as principal, for the distribution of the Offered Shares in the United States up to the aggregate sales amount of US$25 million in accordance with the terms of the Sales Agreement. The Offering is being made in the United States under the terms of a registration statement on Form F-10 (SEC File No. 333-214396) filed and effective with the United States Securities and Exchange Commission and a prospectus supplement dated August 4, 2017 filed in each Province of Canada, except Quebec, to the base shelf prospectus dated November 10, 2016.

Silver Bull Resources, Inc. is pleased to announce that it has completed the second and final tranche of its previously announced private placement. Under the second tranche of the Private Placement, Silver Bull issued 3,125,000 units of the Company at a price of CDN$0.08 per Unit for aggregate gross proceeds of CDN$250,000. Each Unit consisted of one common share in the capital of the Company and one Common Share purchase warrant. Each Warrant entitles the holder thereof to acquire one Common Share at a price of CDN$0.13 until the second anniversary of the closing of the Private Placement.

“Our second quarter results were unfortunately burdened by a number of labour issues which have since been resolved,” stated Keith Neumeyer, President and CEO of First Majestic. “While weaker revenues and cash flows were realized as a result of these work stoppages and a strengthening Mexican Peso, our treasury remained relatively unchanged at a very healthy $126.9 million. Due to this unexpected weakness in cash flows, as a conservative measure, management has decided to reduce capital expenditures by $17.5 million for the year. Our focus in the second half of 2017 remains to be the construction of the new roaster system at our La Encantada mine which is on schedule for commissioning in the first quarter of 2018 as well as the renewed investments in underground development which has been lacking over the past few years. This increase in underground development, which started in mid-2016, will have a direct impact on improving production, however, the positive impacts of these types of investments are generally delayed by 12 to 24 months.”

Westminster Resources Ltd. is pleased to announce that it has received Conditional Approval from the TSX Venture Exchange for its non-brokered private placement previously announced on July 19, 2017 and is pleased to announce a first tranche closing of its non-brokered private placement. The First Tranche closing consisted of the issuance of a total of 3,820,000 Units at a price of $0.20 per unit for gross proceeds of $764,000.

Shareholders voted in favour of all items of business including the re-election of each director (Messrs. Bradford Cooke, Patricio Varas, Mark Rebagliati, James Schilling, and Stewart Lockwood) and the ratification of the Company’s stock option plan. The number of directors was fixed at five and Smythe LLP were reappointed as auditors.

Endeavour CEO Bradford Cooke commented, “Our second quarter production was an improvement over the first quarter thanks to higher tonnes and/or grades from the Bolañitos and El Cubo mines. The Guanaceví mine continued to lag behind plan and another internal review was initiated in order to better understand the new issues and possible resolutions.”

“We made significant gains in the second quarter with record production and lower costs driving the highest combined free cash flow from our operations in years. We expect this trend to continue in the second half of the year with stronger production and lower costs driving strong free cash flow growth from our operations,” said John A. McCluskey, President and Chief Executive Officer.

“We maintained a strong financial position in the second quarter, with 43% lower capital expenditures and solid operating performance from Greens Creek and San Sebastian, with cash costs of $0.26 and under $10 AISC, both after by-product credits per silver ounce, offsetting Lucky Friday which remains idled due to the strike,” said Phillips S. Baker, Jr., President and CEO. “With the significant exploration discoveries at San Sebastian, we are now expecting to extend the life of that project through 2020. Performance of the three mines continues as planned. Higher grade and lower waste tons moved in the second half of 2017 at Casa Berardi should significantly impact production and cost per ounce.”